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Credit card offers can be great if you use them to your advantage!
Many credit card companies are out there in heated competition with each other trying to offer the best credit card offers on the market. Credit card offers can be anything from lower interest to no annual fees and consumers are the ones benefiting from the competition!
Among all of these low interest credit cards are what are known as zero percent credit cards. These 0% credit cards give card holders the opportunity to purchase without the need to pay for up to 15 months! But before you fill out an online credit card application read below to see the finer print!
Most of these credit card offers give card holders the option of low interest balance transfers. The best balance transfer credit cards offer 0% credit card transfer deals and mean that consumers can take their balances from higher interest cards and put it on their new cards.
While this may seem like a great idea to most, it is important to remember that your new purchases will be applied to the higher rate before you can get to the low or 0% rates. Most people just get drawn in by the huge 0% advertisements and never take the time to examine the smaller print where it talks about the surcharges and higher interest periods!
Avoiding the plots of the credit card companies!
Just because many credit card companies try to catch consumers by playing the games above you don't have to be one of them! The best way around these ploys is to get a second credit card. This is how it works:
You get your low interest balance transfer credit card and never use it. What?! Yes, this card is used only as a holder of your high balance so you can pay it off slowly over time without worrying about finance charges. You should get a second credit card that you actually use for your daily purchases. As long as you pay this card off you won't have to worry about finance charges either! You win both ways! Here's how it works in detail:
- Get your low interest credit card first. You can often apply online for credit cards like this and definitely look for one with no annual fee and no additional charges. Try and get a card that has at least 12 months of 0%. Remember to keep track of when this introductory period is over because once it is, you'll start getting hit with high finance charges once again!
- Figure out a good way to pay back the balance on your balance transfer credit card. If you have a plan (which doesn't mean just paying back the minimum payments!) you'll have a much better chance of getting the debt paid back by the time your 0% status is over. If the 0% balance transfer time is over then it may be time to look for a new introductory card!
- Get your second credit card! Find another no annual fee credit card that you can use for your daily purchases and make sure you pay off its balance in full each month.
It would be a good idea to get a card with some sort of rewards program such as frequent flier miles or a gasoline card. Pretty much any type of rewards that suits your lifestyle will be adequate with this card because you can cash in extra with the rebates!
By following these easy steps above you will have created for yourself an effective debt management plan! In effect, this is what a credit counseling agency would do for you but you just did it on your own!
By sticking to a strict budget and taking advantage of the best credit card offers you can open up many doors for yourself by improving your credit score and showing yourself financially secure.
While it still may take you a little while to fully get out of debt (it could take a few lower interest balance transfer cards!) it will be worth it when you finally do. It is all about following the plan that you set out for yourself and making sure you are a disciplined consumer.
ARTICLES about Credit Cards | >> View all Articles
American Express Travel
October 24, 2008
American Express continues to please its loyal customers with exclusive card offers for frequent travel rewards. Its latest product, co-branded with Delta Airlines, comes with a catchy "Delta Reserve Credit Card" name and aims at wealthy and creditworthy customers looking for incomparable travel experience. It cannot be referred to as a cheapest deal among the rewards type, but the price for the outstanding benefits and additional programs is more than acceptable.
The $450 annual fee and a competitive APR on purchases and balance transfers are charged for the exclusive access to the 24-hour Concierge Service, SkyMiles account rewards program and extended credit line. If you think you can find something better online, take a minute to read further and ascertain that American Express has not been overtopped.
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Pre Approved Credit
October 07, 2008
If you hold a valid FICO score with at least one national credit reporting agency, you are very likely to receive a pre approved bank card offer in the mail. But among the 3% of recipients completing and returning the application, only some 1.5% if not less actually get approved. Why is that and what are you required of to qualify for that enticing card offer sent by a major bank?
Most people think if they've been pre approved, there will be no hassle going through the formality of the application process. Now they don't have to spend hours searching and comparing products online to find the only right variant. Hardly anyone knows how the bank chooses a potential customer and what eligibility requirements it will use to finally approve or reject your application.
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Credit Cards at College
September 26, 2008
Though a standard unsecured student credit card is available to high schoolers nowadays, it is at college that young people make their first financial decision independently from parents. The first responsibility comes with the need to choose the right plastic from a great spectrum of equally attractive offers.
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