|
Author: Michael Ambrosio Article source: http://www.findyourcard.com/. Used with author's permission.
Do you know what your credit card is truly costing you? Many
people assume that they do, but aren't familiar with the
hidden fees that many credit card companies are charging. In
fact, if you don't keep close tabs on your credit card, you
may end up paying hundreds of extra dollars per year—without
ever really knowing it!
And if you're trying to budget your money, those hidden fees
can add up!
Let's take a look at some of the most common credit card
fees, and then talk about how you can avoid them.
Grace Periods
In the past, we could always count on grace periods before we
ever had to start paying interest. For example, if we
charged our card to the limit, and could get it paid off
before the grace period expired, then it would be like a free
loan—we wouldn't have to pay any interest.
Unfortunately, the credit card companies are making this
harder and harder to do. For starters, many of them have
reduced the traditional 30 day grace period to 20-25 days.
If you hold a credit card, but didn't realize this, then
you're likely paying interest without even knowing it!
What's worse is that more and more credit card companies are
eliminating grace periods altogether. That means if you
charged lunch today at noon, at 12:01 pm, you would be
already paying interest on it.
How about your credit card? You need to take a close look at
the fine print and find out what kind of grace period you
have. If your credit card company has reduced it
significantly, or eliminated it altogether, you should
seriously consider canceling it and getting a more
user-friendly card.
Late Fees
When is the last time you checked to see what amount your
credit card company charges you for a late fee? The truth is
that these fees have doubled in just the past ten years, and
that, combined with the reduced grace period, means that the
credit card companies are raking in a lot of dough on late
fees!
If it's possible, you should try and send off the check (or
electronic transfer) the day that you receive your credit
card bill. There are three reasons why it's important never
to be late. The first is obvious; you will want to do
everything in your power to avoid a hefty late fee. Next, if
you are late, it will likely be reported to the credit agency
and you will have a bad mark on your credit report. The
third is the direst, and we'll discuss it below.
Interest Rate Hikes
Did you know that if you are late--even one time—on your
credit card payment, the company will in all likelihood raise
your interest rates? That's right; one late payment gives
them the right to do it. What's more, that isn't just
limited to your credit card payment. Any late payments from
any lender that show up on your credit report gives them the
justification to raise your rates, so be careful! Copyright (c)2005 by Michael Ambrosio. You may publish this
article on your site or in your newsletter provided this
resource box remains in tact. Michael Ambrosio is the author
of many credit related articles. Visit his website today:
http://www.yourcreditandyou.com and rebuild your credit.
Simple
Simple is not "Easy," and the more I write about it, the more complicated it gets. While a thought is in the head it is complete. As we seek to make the thought...
Earthquakes, Tsunamis, Mudslides: Extreme Events - What Do They Mean?
In lieu of recent, tumultuous occurrences, people are more compelled than ever to discover the mystery of these modern-day, earth-changing events. One day, Eart...
Attract More Orders
Attracting More Orders! Jump Starting Sales! Sky-Rocketing
Profits! Whatever you want to call it. It all boils down to one
thing, MORE TRAFFIC! And the differe...
Beating the Freshman 15
It's a fairly accepted 'fact' among college age women that they will gain weight their first year away from home. It's so well accepted, in fact, that nearly an...
Why Low Carb Dieters Can Eat Chicken Skin And Meat Fat
While low-fat dieters and non-dieters may want to avoid chicken skins and
fat on meat, most "low carb" diet plans encourage low carb dieters to do the exact opp...
Affordable Website Design In Manchester
If you have a business, big or small you may be thinking of getting yourself a website.
Choosing Effective Programs for Your Internet Marketing Plan
Objectives, strategies, and tactics (i.e. programs or action plans) - these are the parts of a solid strategic marketing plan. Your site objective defines the b...
The Cost Of Being Sick And One Possible Alternative: Glyconutrition
Sick and tired of being sick and tired? Glyconutrition is one of the most imporant health discoveries of our time. Thousands have experienced the great benefits...
How To Write for the Web
The Scanning Reader Writing for the Web is different than writing for print. The differences are slight but significant. First, people don't really read online;...
7 Simple Steps To Profit Without Your Own Product
Most people do not succeed on the internet because they are selling products no one desperately wants. If you want to be truly successful sell only things that...
A Free Lesson On How To Easily Write Ads That Are Guaranteed To Make You Money
COPYWRITING After determining what we are going to sell, the next task is to effectively convey our message. Copywriting is the art of writing words and message...
The Art & Science of Property Valuation -- Automated Valuation Models
It is no secret that sellers want to sell high and buyers want to buy low. But they often arrive at the negotiating table with very different ideas on price. A...
One Woman, One Leg, No Job
An inspirational story about a woman's disabilty and her struggle to find a place in the workforce...
Network Marketing Tip: Hidden Honeymoon Hazards
As a leader, finding balance between feeling like you know someone well enough to be a good mentor and still staying private enough that you don't get lost in t...
West Highland White Terriers – Westies- A Wonderful Breed Apart
Why are West Highland White Terrier puppies sought after by many dog lovers?
Are Westhighland Terriers the Right Dogs for You?
You can look at westie terriers and know if it is the right size for your yard, home, or lifestyle, but a little more in-depth knowledge is necessary to determi...
Cats Make Great Pets If You Understand Them
Anyone wanting a new kitten should be a cat lover. Let's face it, folks, cats are just different from dogs. Cats do not usually perform any special tricks, and ...
Affirmations For Professional Sales People
These Are Powerful Positive Thoughts For Anyone In Sales Or Marketing, From The Affirmations Genius (TM) - Use Them Freely & Succeed Immensely!
Marketing Without Ego
Our ego can get in the way of marketing our business. From our need to be right, to talking about ourselves incessantly; coming from an attitude of arrogance t...
SEO and the Outsourcing of Inbound Link Building
Search Engine Optimization nowadays has a lot to do with building inbound links to your website. Building inbound links is a cumbersome tasks and webmasters hav...
Assembling a Baby Shower Gift Basket: Get Creative
Personalized and unique Baby Shower Gift Basket ideas.
Improving Customer Service: A Role Model If Youre Already Good
If you're already great at customer service, where do you go for inspirtation for further improvement? "It's lonely at the top"--everyone else is imitating you....
Joint Ventures: The Key To Massive Small Business Success
Entrepreneurs have received many messages in the past that have had the cumulative effect of hoodwinking us. The purpose of an Entrepreneur is to make after tax...
Becoming An Affiliate Marketer
Becoming an affiliate marketer is an interesting and exciting process. There are so many programs out there for you to promote. You should think seriously befor...
|
Print this page