Instant Credit Cards Can Be Expensive
by: Charles Essmeier
One day, while you are shopping at your favorite department store, the sales clerk says to you, ?If you apply for our credit card, you can save ten percent on your purchase.? You think about it and decide, ?Why not?? You provide some information to the clerk and a minute or two later, your credit card application is approved, your discount is applied, and you?re on your way home.
Was this a smart thing to do? There are several reasons why it may not have been a good choice:
# The card will probably carry a higher interest rate than the major credit card you had planned to use. Do you really need a credit card with a 20% interest rate?
# The card may not include a grace period for the accrual of interest charges. You may find that although you saved 10%, you started paying 20% interest the minute you walked out the door!
# The quick credit check that the store made to see if you qualify for credit put a small dent in your credit score, as will any credit inquiry. In and of itself, that?s not a big deal, but a number of inquiries in a short period of time can affect your score significantly, and not for the better. The credit bureaus do not look favorably on repeated inquiries; it makes the borrower look desperate.
While it is certainly convenient to carry credit cards, it is not wise to apply for one without giving it a bit of thought first. The ten percent you save at the time you apply may be a small consolation for the large sums of money you may pay later. You might have been better off just paying with cash or another credit card in the first place.
About The Author
©Copyright 2006 by Retro Marketing.
|
The Game Of Switching- Credit Cards
The Game Of Switching- Credit Cards
by: Dr. Judith Earl
Are you overburdened with the outstanding balance of your credit cards? Are you sick and tired of juggling between 3-5 credit cards? Don?t you need a way out to relax yourself from this burden? If yes, then read on. This article might help you in finding out the way.
One of the easiest ways to relieve yourself from the burden of outstanding balance of your credit card is to switch issuers. Many credit card companies offer extremely low (or zero) interest rates on balance transfers.
Now, let?s find out what are balance transfer deals and how is it going to help you?
A balance transfer is when you move your balance from your existing card to another card for better APR. A balance transfer credit card is where you get either a zero interest rate or very low interest rate for a set period. The set period is normally for 6 months; however it might vary at your lender?s discretion....
The Game Of Switching- Credit Cards
Business cards > The Game Of Switching- Credit Cards
Credit Cards Without Late Fees? What You Don?t Know Can Hurt You
Credit Cards Without Late Fees?
What You Don?t Know Can Hurt You
by: Charlie Essmeier
Americans know all too well how much it costs to use credit cards. The average household in the U.S. now has nearly $10,000 in credit card debt. Carrying such debt is fine, as long as you realize that there are costs associated with it. The interest rates aren?t particularly low and the fees charged for paying late or going over your limit can be steep. Late fees of $39 aren?t uncommon, and they are assessed if your bill fails to arrive by the due date, even if it was delayed in the mail.
The credit card companies have been listening to consumer complaints about expensive late fees and several of them have responded. American Express and Citibank have both recently introduced cards that are both advertised as having no late fees. There may be a twist involved; Citibanks?s Simplicity card carries no late fees as long as you make a purchase each month...
Credit Cards Without Late Fees? What You Don?t Know Can Hurt You
Business cards > Credit Cards Without Late Fees? What You Don?t Know Can Hurt You
Business cards
This page loaded in 0.02753 seconds.