Low interest credit cards What they say
That 1% is dropped on top of the rest of the money you owe the credit card company. Instead of paying off your original debt, you pay interest on your interest. If, like most people who run up charges of thousands of dollars, you need to take years to pay off your balance, you will pay more in interest than you paid for the original item. Don't let that happen. Pay down your card balances as fast as you can.