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00:00Have a bunch of credit card debts that are cramping your cash flow?
00:03It's not easy managing lots of different terms, payments, and interest rates.
00:07You might find yourself wondering if you should streamline by consolidating them together in a new credit card with a juicy introductory rate.
00:15Sounds tempting, but there's a big catch you need to look out for.
00:19Some of these offers involve deferred interest, which means that you're still accruing interest on your balance during the promotional period, even though you don't see it.
00:27When it expires, you are charged all of that accumulated interest despite what you've already paid.
00:33This is especially prevalent with cards offered by retailers.
00:37So read that fine print to make sure you're really getting some relief.
00:41For more financial info, check out Two Cents on YouTube.
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