Low Interest Credit Cards: A Thing of the Past?
With interest rates rising, low or zero percent credit cards may soon become a thing of the past. However, the wise shopper can still secure a low rate by carefully shopping around. Here are some ways you still get a bargain rate card: Contact Your Current Provider. Chances are the interest rate with your current credit card provider has been inching up for the better part of the past year. Whereas previously you could have had a 5% rate, the card may now be up to 8, 9, or even 10%. What can you do? Contact your credit card provider and ask for a lower rate. They can tell you no, at the risk of you going elsewhere, or give you a fixed lower rate. If your provider refuses to budge, see if they would consider a lower rate for a certain period of time, let's say for six or twelve months. The added savings of the temporary lower rate can be beneficial especially if you have a big purchase coming up that you plan on paying off within 6 to 12 months. Shop Around. Like most Americans, you probably are receiving solicitations in the mail for credit cards. If that is the case, find the plan that works the best for you and apply. Usually, a low introductory rate is offered as well as balance transfer options. If the card has no annual fees and no additional fees are assessed for transferring funds, go with the new company especially if the rate is lower. Consolidate Your Debt. If your current credit card provider won't lower their rate and the new card company's rate isn't quite as low as you expected, consider obtaining a debt consolidation loan through a lending institution. To get the lowest rate possible you may have to offer up something as security ? for example, the equity in your house ? to obtain the lowest rate. Do this only if you have sufficient equity and can reasonably expect to pay the loan or line of credit off. The Federal Reserve Bank has raised interest rates ten times since June 2004. Still, lending institutions can and are offering lower rate credit cards and loans. As a savvy consumer you can and will find the best deals out there. Matthew Keegan is The Article Writer who writes on just about any and every issue imaginable. You can preview samples from his high performing site at http://www.thearticlewriter.com
Related News
Aryty explores phone credit service in India - The Statesman
Aryty explores phone credit service in IndiaThe Statesman, India -3 hours agoA US-based overseas pre-paid phone credit service, Aryty, is exploring the Indian market to facilitate calls and SMS chat to the USA and Canada. ... |
Crisp snares the ball, but doesn't get credit - Boston Globe
Improved credit score could mean big savings - Chicago Tribune
Using credit wisely - Hindu
Using credit wiselyHindu, India -4 hours agoDespite the high risk of debt trap posed by credit cards, I am an optimist who believes that access to credit in a convenient, card-based form is probably ... |
Credit Card Overhauls Seem Likely - New York Times
CGFS calls for credit ratings change - Financial News
When Credit Gets Tight, a 401(k) Loan Becomes Tempting - New York Times
Credit crunch: UBS piles $7.5bn on to its write-down bill - guardian.co.uk
Bank gives credit - and donation - to Mission anti-development efforts - Bizjournals.com
Pawn shops booming in the credit crunch - Sunday Herald
Pawn shops booming in the credit crunchSunday Herald, UK -3 hours agoHaving fallen from 5000 in the early 20th century to around 800 thanks to improved credit terms and job security, Milligan said that there has been a 10% ... |
|
|
 |
|
|
RELATED ARTICLES
Credit Card Tips
Here are some useful credit card tips for you to consider before applying for a credit card. Before applying for a credit card, you should decide why you want one, and make sure you can use it wisely.
I?ve Heard About FACTA; What Does It mean?
What FACTA means is that if you, as an individual, lose the information on anyone you have ever hired; or, for any business in the United States of America that collects any personal information on people, if the information should be lost due to not destroying the information properly, then two things can happen. First, there are federal fines of up to $2,500.00, and state fines up to $1,000, per employee, per incident. Second, the business is liable for any damages the individual suffers as the result of a breach of information.
3 Ways to Improve Your Credit Score by 50 Points In Less Than 30 Days
In Less Than 30 Days. "What can you do to increase that set of three numbers on your credit report that can be so important with your financing?" I came across this question as I was surfing discussion groups the other day. Check out my answer: Dear Friend, Here are 3 steps I used to take my credit score from 592 (horrible credit) to 762 (perfect credit) almost overnight. If you're interested in improving your credit rating quickly, you'll find this story helpful: In 1995 I made a decision that would ruin my perfect credit history. I quit my salary job to become an insurance salesman. The job paid commission only. Within a few months I lost everything - house, car, credit rating and my self respect. By the end of 1996 I was living with my mom, all my credit accounts were severely past due, and I was paying 22% interest on a broke-down green Geo Storm...I was a real loser. Then, in 1997, I became a banker. I didn't know it at the time, but this would turn out to be the break I needed to eliminate my credit problems forever. During my seven years as a banker, I came across several legal and highly effective ways to improve my credit rating. As a result, I was able to increase my credit scores by an average of 170 points. Here's what I did: Step #1: After spending hundreds of dollars on credit repair services that didn't work, I found out how to get negative accounts removed on my own. Basically, I wrote letters to the collection agencies requesting proof that the accounts were mine. 89% of the time they had no proof that the bad accounts belonged to me. So I was able to get them deleted from my credit file. Step #2: I opened new accounts with high credit limits and kept the balances low. I discovered that if you keep your available credit limits high and only use 10% to 30% of the credit you have available, your credit score will improve dramatically. Step #3: Next, I added accounts with years of perfect payment history to my credit file. This step took my credit score from 647 to 762. While you can certainly add seasoned accounts to your credit file for free, there are companies that claim they can do it for a fee. The problem is, they charge between $2,000 and $2,500 per account. If you want a 700+ credit score you'll need 3 to 4 of these accounts. That equates to a cost of $6,000 to $10,000. (You can conduct a search on your favorite search engine for companies that offer this service.) While there are several highly effective steps you can take to increase your credit scores by as much as 200 points, these are the main ones...And here's the good news: Each step can be completed in less than 30 days.
10 Tips To Prevent Credit Card Fraud
Imagine opening your credit card statement one morning and discovering to your horror that you suddenly owe thousands of dollars - on purchases that you never made.
Student Credit Cards 101
If you're a college student, you probably already have a credit card. If not, you may have plans to get one or more soon. So why should you read on?
What is Credit Counselling?
Ever wondered what is Credit Counselling? There are occasions when you might encounter a financial situation that is beyond your scope which is when a session with a credit counsellor could be beneficial.
Credit Repair Scam - How To Avoid Being A Statistic?
A good credit history is critically important for the consumer. A bad credit will prevent you from getting a business loan, owning a home, or even a job. Promises to "fix" your credit are always made by credit consolidation companies, but they are seldom true. Here are some of the important tips to avoid scams:
How to Get Credit Reporting Agencies to Help You
The process of clearing credit can be laborious and frustrating. Understanding your rights empowers you and saves you time and effort. By employing the following tips, you can enlist the help of credit reporting agencies (CRAs) as you work to improve your credit rating.
Bankruptcy Myths Busted
The average American knows very little about bankruptcy. Most people probably are aware of bankruptcy's ability to dissolve debt and give the debtor a fresh start. Some of the information you might have heard is correct, but some is not. The purpose of this article is to dispel some of the most common bankruptcy myths.
How to Deal with Hire Purchase Debt
WHAT IS HIRE PURCHASE/CONDITIONAL SALE?
Credit Cards
Credit cards are a form of unsecured credit. The issuer is
extending you a line of credit, usually tacking on all sorts
of little surprises in the fine print. This type of credit
is probably the most commonly used.
New Credit Advice: Dont Pay off Those Credit Cards!
Credit needed for real estate mortgage financing differs from credit needed for consumer loans. If you need help getting a home mortgage, these credit tips will help you.
Clean Credit Report: Easily Raise Your Credit Score 100 points
Clean Credit Reports, your credit report contains information about where you work, live and how you pay your bills (On time or not). It also may show whether you've been sued, arrested or have filed for bankruptcy with in the last 10 years. Companies called consumer reporting agencies (cra) or credit bureaus compile and sell your credit report to businesses all over the world.
Establishing Credit ? What You Need To Know Part 1
Establishing credit is one of the most important things you can do in order to add stability to your financial record and dramatically increase your ability to borrow necessary funds in order to purchase a new home, new car or even pay for college expenses. Unfortunately credit has two sides to it that consumers can exploit. The good side is very valuable and prevents consumers from having to save for many years in order to afford the finer things in life. The bad or dark side of credit can lead to individuals amassing large amounts of debt they eventually find themselves unable to repay. With this in mind one of the best investments anyone can give himself or herself is the financial knowledge necessary to handle and ultimately use credit wisely.
Which Credit Card?
Bewildered by the sheer variety of debit cards and credit cards? Here is a breakdown of some of the main types of debit and credit cards available:
Easing Your Financial Burdens With Credit Counseling
It is a well-publicized fact that more of us are getting ourselves into greater debt, and this may be true for you. The embarrassment of your financial situation can mean you are unlikely to seek credit counselling or other credit management solutions. Increased house prices and greater cost of living can force you to turn to heavy borrowing. While this works in the short term, it undoubtedly leads to greater financial burden in the future. Is there anything you can do to stop this trend in your life?
Fair Credit Reporting Act: What You Should Know About It?
The Federal Fair Credit Reporting Act (FCRA) is designated to promote accuracy, fairness, and privacy of information in the files of every "consumer reporting agency" (CRA) or Credit Bureau. Learn what the law says and repair your credit today!
Credit cards
If gold medals were awarded for marketing consistency, the credit card industry would be the Sarah Hughes of the business world. Major players Visa and MasterCard, who have maintained their steady rates of spending and commitment to their positioning platforms for years, will stick to their established routines this year. Freshening their programs will be updated creative and the occasional push behind new products and promotions.
Getting Your Credit Report and Understanding Whats On It
If you intend to apply for a loan, you need to obtain your credit score. Understanding what this score means will allow you to make the loan process easier and quicker. Let's face it; most people want the loan process to be as painless as possible. Obtaining and understanding your credit score will help you see potential problems and perhaps eliminate them before you begin the loan process.
Credit Cards or Store Cards - Which Is Better?
Introduction
|
