Posted by admin on Sep 15, 2011 in
Debt Consolidation
Many individuals are struggling each month to make ends meet and cannot think of ways to earn more. When no other alternative ways to increase income are available one way to create extra money each month is to find a reputable credit card debt consolidation company or program.
Finding the right credit card debt consolidation program can be tricky but when done properly it will save an individual quite a bit of money in interest charges.
Many Americans have no idea how to combine their bills into one place and make one payment. There are companies that specialize in working with individuals or businesses with bad credit to help combine or consolidate their credit card debt so they will only have to make 1 payment each month.
From past experience and even speaking for myself, many spend more than they earn each month. One way to help you to have more income that is disposible is to combine your debts.
A large percentage of people in the US have more than $20,000 in credit card debt and have more than 4 credit cards. The majority of these individuals have low credit score ratings and considered to have bad credit.
On average most people pay only minimum balances on their cards which means they will be paying for a long time since the money they are paying is not going towards the principal but towards the high interest that many credit cards have.
It makes sense to pay off as many credit card bills that you have as soon as possible to avoid paying future interest charges and also it will allow you to keep more money in your pocket each month.
Read more... Tags: Card, Consolidation, Credit, Debt, Each, Extra, Money, Month, Offer, Programs
Posted by admin on Feb 10, 2010 in
Credit Tips
While extremely convenient, credit cards can be a very costly consumer product. Most people don’t realize just how expensive carrying around a credit card in your wallet can be. Each year many big spending credit card consumers can throw hundreds or even thousands of dollars out the window using credit cards. Even if you’re not a big credit card spender, almost anyone can save hundreds of dollars each year with these 3 credit card tips.
Never Pay the Minimum Payment
Your credit card company usually makes sure you know that there is a minimum payment. Even if you owe thousands of dollars, your minimum payment can seem extremely low, sometimes only 3% of your total balance. However, what the credit card companies don’t tell you is that if you have a large balance and only pay the minimum payment for the next few years you will cost yourself possibly thousands of dollars in interest costs alone. In fact, that purchase at the record store for $50 over time will double. To avoid paying interest only and never touching the principle make sure you always pay more than just the minimum payment.
Transfer Your Balance to a Lower Interest Credit Card
Most Americans receive several credit card offers each month and most have some very enticing interest rate offers. For instance, many credit card offers will transfer your existing high interest rate credit card for free to the new card and allow you either zero percent interest for 6 months or a very low interest rate for a specific period of time. If you have a high balance in which you pay hundreds of dollars each year on interest payments, in many cases it is in your best interest to accept these offers and enjoy zero or low interest for the next 6 months to a year. Read more...
Tags: Credit, Each, Hundreds, Save, Tips, Year