Credit Card Series: One Magic Act Worth Skipping- Disappearing Promotional and 0% Transfer Rates

src="http://www.gobankingrates.com/system/wp/blogs/12/assets/2008/12/credit-cards.jpg" alt="" width="300" height="300" /> Consumers already scrambling to find the resources to fund their holiday purchases should brace themselves for another blow. Not so long ago mailboxes around America were clogged with offers for credit cards promoting 0.0% transfer rates, perfect for financing holiday expenses. With the steady decrease of direct mail offers and credit card companies reducing the quantity and quality of promotional incentives, consumers may need to find alternative means for funding their seasonal gift shopping.

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It seems like only yesterday that locating a 0% introductory offer on a new credit card or a 0% balance transfer deal was as easy trick, just like a magician pulling a rabbit out of a hat. However, more and more the magic has evolved into a disappearing act of fewer offers to consumers, with less promotional incentives to sign up for a particular card.

Because of the turn of recent events one of the top priority for the Federal Reserve and Congress is credit card reform. The industry is loosely regulated and at any given moment, lenders can change the terms of a cardholders’ agreement. Credit strapped consumers are already feeling the crunch of higher interest rates, smaller credit limits and fewer promotional offers from lenders. All of which are necessary steps for the credit card companies to maintain control of their bottom line.

The best line of defense for consumers looking to maximize their credit options this holiday is to use their existing credit cards they already have and to read the fine print on every piece of mail regarding your current card. That way, they’ll be fully educated on the changes that are being made that will directly affect them.