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ACH or Credit Cards
Most businesses accept credit cards and consider the process
fees a cost of doing business. However by implementing an ACH
payment system you can realize dramatic savings and increase
sales.
ACH refers to the Automated Clearing House and...
Bad Credit? Qualify Yourself For A Zero Down Mortgage Loan
I decided to write this article today after closing a home purchase loan for a couple that had some major credit issues. They got into the house with ZERO down payment, and only had to bring $600 for the closing costs. Their situation was...
Benefits of an air mile credit card
An air mile credit card allows you to earn points, which you can redeem towards your travel expenses. An air mile credit card can help you get a free ticket. If you are a frequent flyer, you can use those miles to build your reward points quickly...
Credit Card Processing on the Internet
So you have finally finished your e-commerce web site, hired the best web publisher, added all the bells and whistles, outstanding graphics, and great merchandise. Now, how does your prospective customer pay you for your products? Clearly, it is...
Lower Your Credit Card Interest Rate Now!
With today’s credit card companies, there are many opportunities to get your cards rate of 21% or more reduced. The higher the amount of interest your card charges will cost you more for a simple purchase and ultimately may take you years to pay...
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Don't Pay Your Minimum Balance on Credit Cards
You have two or more major credit cards comfortably snug inside
your wallet. You are quite proud of them and they seem to act
like your security blanket. But are you sure that security is
the commodity being offered by the credit cards? The credit
cards offer immediacy. That is, you can immediately purchase an
item you like using your credit cards. Without the plastic, you
will have to scrimp and save for weeks or months before you can
afford that certain item. With credit cards, you incur a debt
each time you have the plastics swiped. And, looking closely at
the debt balance, you notice that it wasn't reduced much each
time you pay.
To get out of a debt or a loan, the best you can do is not to
pay your minimum balance. Each time you pay the minimum balance,
you are letting the credit card company or the lender take as
much interest as they can out of your hard-earned money. A debt
of $3,000 may not seem much and you certainly can take care of
this in less than six months. But your minimum balance reflected
in your statement of account is surprisingly small. You smile.
Do you really think that the minimum balance was made small
because the credit card company was considerate? Think again.
How much is the total amount you have paid for all your monthly
payments for credit cards, loans and debts? Perhaps you have
paid more
than half of the price of the item that you purchased.
Check the debt balance you still need to pay. The balance is
still high, after all the payments you have made. For how long
will you be paying so that you can pay off the debt? Obviously,
it will take you a long time.
To fix the situation and to put you on a more stable financial
situation, you need to take steps. The first of these is to come
up with a written plan to pay off all your debt. Second, pay
much more than your minimum amount. This will significantly
reduce the balance. Third, keep your credit cards snug inside
the wallet. As much as possible, it must not go near a cash
register. Use it only for emergencies, not for a big midnight
sale. Another step you can do is to move the balances on cards
that charge high interest rates to cards with lower interest
rates.
And lastly, never get a payday loan to pay off your credit card
payments. Though credit cards charge high rates, the rates of
payday loans are even higher.
About the author:
Michael Colucci is a technical writer for Low Interest
Credit Cards
(You are granted the right to reprint this article but the title
and content must remain unchanged and the authors name and
contact information must be included.)
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