Save Money On Interest Expenses With Low Interest Credit Cards October 17, 2008
Posted by Vedis in : Credit Cards , comments closedDo you always hear that if we pay off our credit card balance every month and only spend what we can afford to spend , we can avoid interest expenses and finance charges? It’s like getting an interest-free loan. Isn’t that a great way to save money?
However, how many of us can actually do this? According to studies, many people with credit cards pay just the minimum amount every month, and roll over the rest to pay the following. Then next month, we roll the charge over yet again. That means we pay interest on our loan, every month. Plus,we pay interest on the interest we owe !
Isn’t there a way in which we can save money on our credit cards? Fortunately, there is. You can look for low interest credit cards offering 0% Interest or APR for up to 12 months on all purchases and balance transfers.
The length of your introductory period will be either 12 months for purchases and balance transfers or 3 months for balance transfers only, depending on the review of your application and credit history.
Remember though, the BEST way to save money is to pay off your cards monthly. But for the rest of us who carry a balance, getting a low interest credit card or a credit card with a low introductory rate is one way to save you money in interest expenses.
How To Save Money On Interest Expenses? March 24, 2008
Posted by Vedis in : Credit Cards , comments closed
We have heard a lot that if we pay off our credit card balance every month and only spend what we can afford to spend , we can avoid interest expenses and finance charges. It’s like getting an interest-free loan. Isn’t that a great way to save money?
That would be a great idea. But how many of us can actually do this? Studies show that many people with credit cards pay just the minimum amount every month, and “roll over” the rest to pay the following.
Then next month, we roll the charge over yet again. That means we pay interest on our loan, every month. Plus,we pay interest on the interest we owe !
Isn’t there a way in which we can save money on our credit cards? Fortunately, there is. Look for low interest credit cards offering 0% Interest or APR for up to 12 months on all purchases and balance transfers. The length of your introductory period will be either 12 months for purchases and balance transfers or 3 months for balance transfers only, depending on the review of your application and credit history. (more…)
0%,0% & 0% With The Best Credit Card Offer May 30, 2007
Posted by Vedis in : Credit Cards , comments closed
Since my friends have come to know that I am blogging about credit cards and debt management, they always look for advice from me.
I warned them to think twice because I am loaded with $60,000 credit card debts ! How can they trust a person who has been deeply in debt to give them advice on choosing the best credit card offer ?
To my surprise, they said that I am a doer of debt elimination now. Why shouldn’t they trust the advice and tips given by me ?
I told them to always consider credit cards that offer 0% like Mint credit cards that offer 0% , 0% and 0% ! Don’t settle for just one 0% , but 3 – 0%. 0% on purchases until 1 January 2008, 0% balance transfers (2.5% fee) until 1 August 2008 and 0% bonus offer until 1 April 2009 on balance transfers debited to account during October 2008 (2.5% fee). With this 0%-0%-0% offer, they can save, save and save. They have also recently lowered their APR to 14.9%.
Besides applying online which only takes 8 to 10 minutes, we can also request for an application pack.
There is one thing I like about Mint credit cards is that they offer Mint gift cards that can be given out as gifts to friends. Isn’t it a great gift idea ? This clever little piece of plastic gives your friends the freedom to go shopping at their favorite shops. It’s more innovative than a gift voucher to spend in just one store, and it’s definitely more personal than cash.
Reading Is To Get Out Of Credit Card Debts May 28, 2007
Posted by Vedis in : Credit Cards , comments closed“How did you get so deep into such debt trouble ?” This is the common question asked by a lot of concerned bloggers. Well, through the efforts of my hubby and me. OK..I am serious. What I can say is lack of self-control and knowledge about financial matters.
Getting a credit card has become too easy nowadays. I have been approached by credit card executives while shopping in the malls, doing transaction in the banks, going for trade fairs and bumping into roadshows by banks.
There are too many perks offered by banks. Banks now offer 0% credit cards on purchases from participating merchants, if you use their credit cards.
I have had 7 credit cards before (I once boasted to my hubby that I wanted to own 10 credit cards ! How silly !) while my hubby had 6.
Now, I have 2 cards while my hubby has 1 card…;D Are we out of the debts ? Of course, noop.. the credit card debts are still here, decreasing little by little.
Once we realized that our debts had snowballed to more than $60,000, we started feeling petrified. What did we do ? You’ve got it , balance transfers ! Yes, from 0% balance transfers to 9% balance transfers. From bank A to bank B and then from bank B to bank C.Then, thought of personal loans and secured loans.
We used to put the blame on the banks. But, now we have come to realize that we are at faults. We lack of self control. Once we admitted we were at faults, we actually took up our responsibility. We sat down and calculated the total outstanding we had at that time.
Once we knew how much our debts were, the next step was browsing through the internet reading articles which provide tips on How To Choose The Right Card, Credit Card Balance Transfer Guide,Credit Building Tactics and other helpful resources.
After reading the article of Credit Building Tactics , it finally dawned on us that we can actually rebuild our credit rating little by little and with patience.
With sound credit card advice provided by thousands of internet sites like Nations Finance, we have better grasps of the ins and outs of credit cards, mortgages, home insurance and motor insurance.
We know how to get better deals after reading Where Is The Best Place To Get Car Insurance ?
Equip yourself now with more comprehensive and updated news about credit cards, mortgages and related financial advice before you are in deep, deep debt trouble like us.
