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Eliminate Your Credit Card Debt Forever-Without Stress
In recent years, the amount of credit card debt being carried by
Americans has reached hundreds of billions of dollars, with
interest payments each year that would sink the economies of
many small nations. But you can eliminate your credit card...
Genuineness of credit card processing
According to buyerzone,consumers increasingly are turning to
plastic over paper when they open their wallets. Yet many small
businesses still don't accept credit cards. If you're one of the
laggards, the entire transaction may retain the...
How to Find a Credit Union
If you’ve been feeling like small potatoes at your bank lately, it’s probably time to start looking at a credit union instead. Of course, you won’t find a credit union on every corner, or ATMs at every convenient location that you require. But if...
Reversing Credit Repair
If you want to reverse your credit repair and land deeper in
debt, let me show you how. Have you ever seen the advertisings
that say you qualify for $10,000 in credit and your credit will
increase once you accept the terms & conditions and also...
Successful Credit Cards For a Successful You!
There are tons of competing credit card companies around. For
the consumer in you and me, separating the wheat from them tares
among these companies will be quite an enormous task. What
should one look for anyway when considering what credit...
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Low Interest Credit Cards
Just about every credit card ad you read touts its wares as "low interest credit cards." To determine whether this is accurate or not, you're going to have to look past the headline and into the fine print for the details. Here is some basic interest rate information to help you determine if that "low interest credit cards" are really "high interest credit traps."
How To Find Low Interest Credit Cards
Be aware that Interest rates are variable. Credit card rates are set by adding a spread, or margin, to a base rate. Your base rate is often a widely used index rate, which is almost always a rate that changes periodically, without warning and for no reason.
The spread that is added to calculate your rate depends on your credit history. If you pay your bills consistently and on time, the spread may be as few as 2 or 3 percentage points. If your credit history reveals that you make late payments, or have too much debt, the spread may be 5 or 6 percentage points or more.
Visit www.amex-visa-mastercard.com to review a listing of credit card offers that truly are low interest.
The advertised rate on a credit card is often the card's simple interest rate. The
effective interest rate, however, is your true cost of borrowing and includes annual fees you pay to use the card. The compounded interest rate is a better barometer of your effective interest rate. For example, if your card has a rate of 12%, your monthly rate would be 1%. Because credit card interest is compounded monthly, the effective annual interest rate on a 12% simple-rate card is 12.68%.
With a little effort, you can find a great low interest credit card that is right for you.
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Note: This article may be freely reproduced as long as the authors bio paragraph at the bottom of this article is included, the article is published "as is" (unedited) and all URL's are made active hyperlinks with no syntax changes.
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About the Author
About The Author
This article was written by Beth Pardue who has over 10 years of experience in the financial industry assisting clients with assorted financial needs. To learn more about credit cards or to apply for a credit card online please visit: Visit http://www.amex-visa-mastercard.com today!
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