"The difference between a boss and a leader: a boss says, 'Go!' -a leader says, 'Let's go!'."E. M. Kelly
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Cheap Credit Cards
Each week we are bombarded with credit card offers, telling us that this particular offer is the best. It is pretty annoying, when we know that most of these so called cheap credit cards are nothing but scams and are not even worth the time to look at. ...
Paying Your Credit Cards Late Can Cost You - Big Time
The latest income figures show that some 25 percent of all income derived by credit card companies is generated by late payment fees. If you have been late with a payment lately, you've already noticed that credit card companies have discovered a ...
The Proper Use Of Credit Cards
Credits cards are a convenience, not a crutch.Credit cards are a great way to make purchases and record tothe penny your spending. They also provide a way topostpone payment on items and thereby earn more interest onyour money.For example, if you have a ...
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Many credit card companies use the term low APR to promote their credit card offers. But how do you know if the card you are applying for is really a low">http://www.easy-approval-credit-cards.com">low APR credit card? To determine whether this is accurate or not, you're going to have to look at the fine print of these claims.
Of course there are a lot of reputable and honest credit card offers available as well. We recommend www.easy-approval-credit-cards.com">http://www.easy-approval-credit-cards.com">www.easy-approval-credit-cards.com as an excellent source for dependable credit card offers.
Here is some basic interest rate information to help you determine if those "low APR rate credit cards" are really "high interest rate credit rip-offs."
Keep in mind that interest rates are variable. Credit card rates are set by adding a spread, or margin, to a base rate. Your base rate is often a widely used index rate, which is almost always a rate that changes periodically, without warning and for no reason.
The spread that is added to calculate your rate depends on your credit history. If you pay your bills consistently and on time, the spread may be as few as 2 or 3 percentage points. If your credit history reveals that you make late payments, or have too much debt, the spread may be 5 or 6 percentage points or more.
The advertised rate on a credit card is often the card's simple interest rate. The effective interest rate, however, is your true cost of borrowing and includes annual fees you pay to use the card. The compounded interest rate is a better barometer of your effective interest rate. For example, if your card has a rate of 12%, your monthly rate would be 1%. Because credit card interest is compounded monthly, the effective annual interest rate on a 12% simple-rate card is 12.68%. By doing a little research, you could save yourself a lot of money in interest in the long run.
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About the Author
About The Author
This article was written by Beth Pardue who has over 10 years of experience in the financial industry assisting clients with assorted financial needs. To learn more about credit cards or to apply for a credit card online please visit: Visit ">http://www.easy-approval-credit-cards.com">http://www.easy-approval-credit-cards.com today!
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