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Alternatives to Credit Cards
Are you one of those people who only ever got a credit card for
the convenience of being able to pay without cash, or because
you weren't aware of any other easy way to borrow money?
Millions of us are, thanks to the unavoidable advertising of...
Can You Get A Credit Card If You Have Bad Credit?
Getting a credit card with bad credit is harder than if you have good credit but it is far from impossible.
Bad credit is nothing more than a slight hindrance these days. There was a time when bad credit would keep you from getting any form of...
Credit card and loan APR...some points of interest
When choosing to have a credit card or credit arrangement how many of us take an interest in the APR or look into how much our borrowing will cost us over the year that we have a credit amount outstanding.
The APR or annual percentage rate that is...
Protecting Your Credit During Divorce
Q: My spouse and I are divorcing, and share a number of joint credit accounts. In deciding how to deal with these accounts, we've discussed his paying at least some of them off as part of our settlement agreement since he earns more than I do....
Trusted Ways To Repair Your Credit.
Even if you think you have a perfect credit report, be vigilant of the error factor. Just as you receive mail with your name and address misspelled, your credit report can have errors just like anything else. Whether it’s human being error, outdated...
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The Credit Card Surprise That You Need to Look Out For
The Credit Card Surprise That You Need to Look Out For
Companies that issue credit cards want to make a profit. No one disagrees with that. The problem is that, we as consumers have, is when they have hide or disguise what it really cost for you to use a card.
Here are some ways that you could be paying more, not even knowing it for your credit cards.
Those Teaser Rates.
As these rates are low at the beginning but rise after six months or a year. This is a popular way for credit card issuers to attract new cardholders. I don't know if you're aware of this but when the low rate expires, any balance that you may have left on the card automatically jumps to the new rate and just not on new purchases. This is something you should discuss or read before you even get a new credit card with low teaser rates
Those Costly Cash Advances
There is usually both a finance charge or interest and a transaction fee for cash advance cash even though the as may say “no finance charges". There is no grace period for that cash advance. You will pay all the interest from the day you take that advance. The transaction fee may be as high as 2-5%.
Extra Fringe Benefits
Cards that were offering benefits like percentage discounts, rebates, purchase protection, etc., may have been cutting
back on those benefits and without any notice. Watch your mail when you get those updated versions for your credit card. If you don't read it, then you didn't know it changed and unfortunately it's your fault.
The Grace Period.
These high limit cards may sound great but may not have a grace period. If you ever noticed on your credit card bill, you may receive the bill five days before the due date. How are you supposed to then pay your bill on time?
If you don’t want to take any chances in having to pay a finance charge, then pay your bill in full each month. If you receive your bill late, call the credit card company and tell them that.
Two cycle billing.
Two cycle billing means the credit card issuer charges interest the first month that you don't pay your of balance in full.
Always read through your terms and conditions on your credit card bill and if you have any questions just call the credit card company and ask questions!
About the Author
Copyright 2005
Fern Kuhn, RN
Specializing in Diabetes
http://www.diabetestestingcenter.com
http://www.mortgageratecenter.info
You may reprint this article as long as you keep the links active
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