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Lenders offer zero percent introductory rates on new credit cards

Many consumers who found themselves locked out of the credit system because their credit score was too low to qualify for a new account are now being targeted by lenders who hope to entice them into getting a new credit card, according to a report from television station New York 1. The newest offer designed to draw in Americans who have been jilted by lenders in the past is a card with zero percent interest for six months.

However, these cards often come with restrictions on how much debt a person can move onto them, or will carry high transfer fees of between 7 and 9 percent, the report said. They may also have higher-than-average interest rates after the introductory offer expires.

Many lenders have increased the value of their credit card offers in an attempt to draw in more customers. In recent months, consumers have scaled back their reliance on credit card accounts.

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