How To Save Money On Interest Expenses? March 24, 2008
Posted by Vedis in : Credit Cards , add a comment
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…)
Compare Low APR Credit Cards,Bad Credit Credit Cards,Reward Cards December 3, 2007
Posted by Vedis in : Credit Cards , add a commentIt’s likely that you receive credit card offers in the mail, but which credit card should you choose? You can save hundreds, and maybe even thousands, of dollars by shopping around for the best credit card.
Before you choose a credit card, get the answers to a few key questions. The answers to most of these questions can be found in the disclosure included with the credit card application.
What kind of card is it? There are many different types of credit cards to choose from. Understand what kind of card you’re applying for before filling out the application. This will help you make sure you’re applying for the right card. (more…)
0%,0% & 0% With The Best Credit Card Offer May 30, 2007
Posted by Vedis in : Credit Cards , 1 comment so far
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 favourite 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 , 4comments“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.
7 Ways To Get More From Credit Cards May 7, 2007
Posted by Vedis in : Credit Cards , 2commentsI have a love-hate relationship with my credit cards. While they are also a marvelous convenience, they are also a crafty money trap. I am not talking about the way plastic tempts you to overspend. What bothers me is that I do not read thorough enough on tips and information to help me get more from my credit cards.
Read through the tips given below if you want to get more from your credit cards:
1. Compare Interest Rates. Don’t just focus on the low promotional interest rate which will only last for a limited period. Get a permanent low interest rate that will help to keep your monthly payments low on larger purchases.
2. Apply for Credit Cards During Promotions. Make use of the annual fee waivers, balance transfers, contests and free gifts that credit card companies tend to offer new members. Find out more about the different balance transfers being offered if your existing outstanding balance is costing you too much.
3. Track Your Reward Points. Often a home appliance you need may be redeemable at a special price, or even free of charge, with your retail credit cards. Check your credit card rewards catalogue.
4. Consider Cashback Credit Cards if you’re the type of person who always pays the balance in full every month. Then, you stand to gain most from one of these cashback credit deals.
5. Choose Credit Cards Relevant to Your Lifestyle. Let’s say you are an avid supporter of your football team. Use a football credit card to support your club and help the talents of the future.
6. Compare All Charges on Your Credit Cards. Besides interest, there are other fees you may have to pay, such as annual fees, late payment fees and fees to participate in a reward program.
7. Use Your Credit Card Right After Your Statement Date. This way, you can potentially enjoy an interest-free period of up to 50 days. However, if you carry over an unpaid balance, send your payment as soon as possible to save on interest charges.
Would you like to read more Free credit card articles? If your answer is YES, congratulations ! You are well-prepared for a debt free life by equipping yourself with all the necessary information about credit cards.
How Did We Get Into Deep Credit Card Debts ? May 1, 2007
Posted by Vedis in : Credit Cards , add a commentIf this is your first visit to my blog. Welcome ! Look to the right sidebar - $60,000 credit card debts, excluding home loan and car loan.
How did you get so deep into 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.
I started off with my very first credit card in 2001. It was definitely difficult to get a credit card at that time. I still remember the lengthy and daunting process of getting the card approved.
However, 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. As an example, some banks even 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.
When we realized that our debts had snowballed to more than $60,000, we started feeling petrified. We had been maxing out our credit cards regularly and paying off the balance in three months when it used to take one month !
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 debt consolidation for our credit cards.
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 get out of credit card debts, pay off credit card debts and other helpful resources.
After reading the articles on bad credit history, it finally dawned on us why it was difficult for us to obtain cards, car loan and home loan last year.
With sound credit card advice provided by thousands of internet sites, we have better grasps of the ins and outs of credit cards. Equip yourself now with more comprehensive and updated news about credit cards before you are in deep, deep debt trouble like us.
