|
Author: Christine Breen Article source: http://www.hotlib.com/. Used with author's permission.
You're probably thinking "Tell me something I don't know" but in this time of low interest rates you might be thinking that you've got a great deal since credit card interest rates are low. Wrong. Credit card companies have a cutoff as to how low their interest rates will go.
So when interest rates are low for lending, that doesn't mean your credit card rate will be low as well. If you don't know, or aren't sure, if your credit card company has a minimum interest rate just look at the fine print on your next credit card bill. If you can't read that small of print, and most of us can't, give the customer service a call. If your credit card company does have a minimum interest rate then I'd plan to look around and go with the credit card companies that don't. Because when the interst rates drop, you should get a break on your credit card rate.
The fixed rate on credit cards actually rose in the last twelve months. Why? Because the credit card companies have been actually losing money due to record numbers of delinquencies and bankruptcies. Those who can't pay now for their purchases in the past are sticking their bill to the rest of the credit card holders.
So you may think that you want to get that credit card insurance being pushed by credit card companies that will pay your bill if you become disabled or unemployed. Not so fast. The average payout on a credit insurance policy is 30-50%. The National Association of Insurance Commissions actually recommends a payout of at least 60%. Payouts for debt cancellation and debt suspension is in the 1-3% range. That's definitely not worth the premiums. Get enough regular life insurance and disability insurance to cover your debt as their premiums are much cheaper and have greater payouts.
Beware of a credit card company trick that I recently ran into. I mailed a payment a week early but yet was still charged a late fee. Impossible I say. I found out the payment had to be in the credit card company's processing center by a certain time on the due date.
Think of my credit card payment making it's way through the mail, to a P.O. box, then getting picked up, sorted, sent to the processing center, opened and recorded. And this has to be done by a certain date on the due date. Ouch. I suggest mailing in your payment at least two weeks early. About The Author
Christine Breen is the owner of the website www.1stop-creditcards.com which helps consumers learn about credit cards and find a card to work for them.
Good Traffic is Targeted Traffic
There's alot to consider when researching where to purchase web traffic, but there is one aspect that must be nailed for a successful advertising campaign: the ...
Simple Solutions for Conquering Stress
Whether it's induced by too little time, too much to do, family commitments or disagreements at work - stress is the buzzword of the decade. From headaches to u...
Business Opportunity - Leverage Your Employees!
For business to be successful, you have to take every step possible to make sales, control costs, be profitable.
Yet there is an asset that so often gets looke...
Effective Advice For A New Generation of Investors
Scott Pearson's The Young Investor is a practical way for less experienced investors to prepare for a financially sound future. With an easy-to-follow, action-o...
Linking to the Best
The saying goes that spray and pray does not yield great results. If you take aim at the right audience then you will have a better chance at winning business. ...
Discovering Your Life Purpose - An Overview
If you've ever wondered what your purpose is and what to do about it, you're no different than most of us. In the first of four articles, we'll explore the diff...
Raising Teenagers? Stay C.A.L.M.
Parents of teenagers looking for information on how to stay in touch and keep the relationship positive will find some great tips here.
Do You Have a Dog Day Care Business Plan?
If you are considering opening a dog day care, then you need to make sure you have a dog day care business plan. A solid dog day care business plan will help yo...
Home Loan Confusion Continues
Unfortunately, most Americans still do not understand how home loans work and how to take advantage of the wide array of programs available. The way I see it, p...
Where to Get Your Online Finance Degree
An online finance degree is a wonderful option for individuals who want to go to college, but for whatever reason prefer an online forum as opposed to a traditi...
Communicating CEOs
CEOs may do more than communicate, but almost everything they do will be driven or influenced by communication processes inside and outside the organization.
Arbitrageous Outrageous and Immoral
Surely someone other than John Ralston Saul (Kings College Doctor of Economics) has noticed the fact that these things are even more important than the wars of ...
Mobile Truck Washing, Case Study
Most folks in the pressure washing business are happier to do business cleaning concrete or flat work, because it appears to be easy. Some do both fleet truck w...
13 Comments on Bad Meetings
Here are 13 quotable comments about bad meetings. Ouch!
Find the Purpose of Your New / Proposed Website
Absolutely everything stems from the purpose of your website - selection of hosting, programming, graphic design, copywriting, internet marketing, autoresponder...
Low or No Cost Ways to Market Your Cleaning Business
It doesn't matter what a fantastic service your cleaning business provides if no one knows that you exist. If you are clever and motivated there are numerous wa...
Eggs-travagant Eggs
Wonderfully simple to do and oh so impressive! You don't need a $40 Easter egg decorating kit with pages of instructions to impress your family and guests this ...
How To Boost Your Sales Dramatically Using Dynamic Back-end Strategies
Getting a customer is not easy. Getting a visitor to decide that he or she wants to buy the product or service you're offering, getting out their credit card a...
Succession Planning
Ever wondered how to make inheritance fair for ALL your children? Or even how YOU are going to have enough to retire on as well as being able to pass on the fa...
Anamchara - Living An Essential Life
This article asks people about what is essential in their lives.
Fun & Fruity Recipes
Sometimes the easiest way to get children to eat healthy is to let them have a hand in making their own snacks…and add whipped cream on top. Here are two fruity...
Growing Sales Through Creating Connections
As a business owner it is your mission to develop a marketing strategy to offer your potential clients a way to improve their situation, solve a problem, provid...
Increasing Your ROI
All requests are not equal; all customers or clients are not equal; all to-do-list tasks are not equal; all work responsibilities are not equal. You can do fift...
Happiness - Work Now or Later?
Long-term success and happiness follows hand-in-hand with strength of character. What do we have to do in order to become people who manifest health, wealth, su...
|
Print this page