Credit card offers

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Credit Card Debt Secrets
Are you struggling with debt from several credit cards like Mastercard, Visa and others? Have you ever crossed your mind to consolidate credit card debt? One of the easiest "things" that can happen in life is the ratcheting up of a large credit card debt. Learning how to consolidate credit card debt is one of the best things cardholders can do. It is very easy to jump on the debt carousel and when... Read credit cards article



Credit Card for Teens
If you have children, then you know that the teenage years are the most challenging. Some people think that taking care of a baby is more challenging because parents have to do a lot of things ranging from changing diapers to mixing formulas. However, the stress involved with teenagers makes those stains on the carpet and fussy outbursts during the night pale in comparison.

The teenage ... Read credit cards article



Credit card offers
Credit card offers can fill up your mailbox within days if you don't check your mail on a daily basis. Pull more than half of your mail to the side and it is likely peppered with offers from leading credit card providers extolling the virtues of their product. Most offers will include points such as these:

- Free Balance Transfers and 0% APR for the first 12 months
- No Annual Fee
- Free Rewards Program
- Low APR
- Consolidate Your Debt
- Instant Approval

On and on the offers come and on surface there isn't a lot that separates one card from the next. However, if you dig a little deeper - by reading the extensive terms and conditions that come with each offer - you will see that wide differences exist, dramatically so. Read on and we'll take a look at what you should examine when weighing your offers.

Balance Transfers - At first glance, this sounds like a terrific offer: transfer all of your balances to the credit card and pay 0% on that balance for 3, 6, even 12 months or a very low fixed rate for the life of the balance. One offer guarantees that you can pay just 2.99% until your loan is paid off, well below the rate of a personal loan and far below the average 18.9% most consumers are paying on their cards. Still, you may have to pay a balance transfer fee and that rate can quickly triple or quadruple if you are late even one time.

Low APR - You may be enticed with a very low introductory APR, perhaps even 0%. Play it right and your purchases can be "interest free" for a period of time. Check the offer closely as your unpaid balances could suddenly surge to 10, 15, even 18 percent or more if unpaid by the time that the introductory period ends.

Free Rewards, Or Not - No rewards program is ever worth it if you run monthly balances on your account. Easily the interest rate you pay will cancel out your points and then some. Play the rewards game wisely to get valuable prizes you can live with.

Instant Approval...Sort of - You can get instant "tentative" approval for a card when you apply online but don't expect to get to use your card until it arrives in the mail. The credit card company will still have to pull your credit reports before an official approval is granted.

So, enjoy your credit card offers but examine them closely. There is often more to them then meets the eye; read it carefully to make sure you fully understand what you are agreeing to.

Joseph is the proud owner of Money Matters, a website that will explain everything you need to know about Maintaining Your Budget. We invite you to visit our site today and see what we have to offer.

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Credit Card Jumping

Before you begin low-interest card hopping, be sure to be informed. You have to evaluate cards carefully, and like any financial strategy, card hopping has its dangers. If you still want to try this method of debt reduction, here are some tips to help you make the decision:

Different Rates for Different Things

Be sure that the low interest that a credit card is advertising actually covers balance transfers. Often, when you read the fine print, you'll find that incredibly low interest rates are only in effect for new purchases. Balance transfers are often at a higher rate and you may end up paying even more than you were paying with your previous credit card.

Promotional Periods Have an End

Sometimes low introductory interest rates last for only a few months. Be clear about the time frame. Depending on how fast you plan to pay off the card, you may be better off keeping the card you have. If you just need a couple of months to cancel the credit card balance, you can take advantage of 0% APR and 0% Balance Transfer promotional periods.

However, most of these credit cards, once the promotional period has ended feature higher interest rates than average credit cards. Thus, you may easily loose what you saved in the first couple of months of 0% APR unless you cancel the whole credit card balance within this period or you transfer the balance to another credit card before the period ends.

Additional Fees And Costs

Be informed about any balance transfer fees. Cards offering low introductory rates often have them. Some charge a percentage of the transfer amount, which can be high if you have a large balance. If the card you are considering includes these kind of fees make sure to ponder them when deciding whether transferring the balance to the new card will save you money or not.

Some credit card companies also charge termination fees and retroactive interest charges if you decide to close the account or transfer the balance to another card before a specified time period has elapsed. This way, they discourage people from using the low rate credit card hopping technique and force client fidelity.

When you transfer a balance from an existing card to a new one, it's a good idea to close the account you're leaving. In this fashion, you won't be tempted to use the card, and it won't be an open credit line on your credit report. Closing accounts briefly lowers your credit score in some circumstances too, so be sure to close an account not sooner than six months before seeking new credit.




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Credit card offers
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