Fixed Rate Credit Card

Getting Motorcycle Loans in a time of Instability

3 May, 2011 By avillanueva Leave a Comment

Getting Motorcycle Loans in a time of Instability

Motorcycles have made an impact in our daily life as a very inspiring recreational possession. Who would not want to ride a motorcycle on a weekend on a highway? But then, a motorcycles loan could be a little difficult to get without proper knowledge of what you need to get the loan approved. Also, there is not much of a difference when it comes to having a loan approved for a car. The only significant difference is the rate of interest. You could even get a loan approved if your credit is not very good.

The first thing that you need to do is to choose a motorcycle. Now that it is done, you need to make an exact estimate of the amount that you need to borrow to finance the motorcycle that you have chosen. Be very exact on your estimates as you will be required to pay the interest on the amount borrowed. There are options when deciding on what type of loan is needed. The two considerable options are either a fixed payment loan or a line of credit.

The line of credit depends on your credit rating. Then comes the task of finding the bank that offers loan at the minimum rate of interest. This would require efforts as you will need to look through newspapers and contact the local banks by phone. Another alternative could be browsing through the websites and finding the appropriate bank. Payment through credit card could be considered to finance the purchase of the motorcycle desired. A low fixed rate credit card could be of much help. However, before using the card, calculate the monthly payment that you will be required to pay every month. Ensure that these are paid in time to avoid late fees and extra finance charges.

If the motorcycle is being bought from a dealership and you are getting a motorcycles loan from the dealer himself, this could be expensive. This is because they charge the highest in finance fees. However, if the motorcycle is being purchased from an individual, settling in for a monthly payment plan could be the best way to finance your motorcycle. If you dont think this is possible. There are also other personal type loans that can help and individual be able to pay for the motorcycle they are wanting to purchase. It still all works the same as with any other auto loan.

If you would like more information on motorcycle loans and even how you can get bad credit motorcycle loans then visit the #1 motorcycle loans resource on the net at: http://badcredit-motorcycleloans.com

Filed Under: Fixed Rate Credit Card Tagged With: Getting, Instability, Loans, Motorcycle, Time

Basic Principles of a Loan

2 May, 2011 By avillanueva Leave a Comment

Basic Principles of a Loan

Understanding the basic principles behind a loan can save new borrowers a lot of stress and make the borrowing process easier. This article will explore some of those loan basics.

A consumer loan is simply when a financial institution lends you money with the promise (from you) that you will repay the money. Most loan payments include both principal and interest.

Principle is the amount of money that you borrowed. Interest is the price paid for borrowing money; this is usually expressed as a percentage.

In an interest-only loan, the interest of the loan is paid off before the principal. It is important to understand this because many mortgages are interest-only loans. Using this kind of loan allows the lender to make a faster profit on the loan, and in return it also allows the lender to offer you lower interest rates.

Borrowers should understand that during the first years of an interest-only mortgage the entire monthly payment goes toward interest. Because of this there will be no decrease in the amount of the principle that was borrowed. In some cases, the initial interest-only payments are lower than the principal payments. This allows the borrower, who expects to earn more profit over time, to obtain a larger loan.

Variable Rates versus Fixed-Interest Rates

Aside from interest only loans, you may see offers for loans that are based on either variable rates or fixed rates. Credit cards generally use either the variable or fixed rates systems when calculating the interest.

Variable rate loans are based on the prime lending rate, and then some additional interest percentage is added in order to cover profits for the lender. Whenever the Federal Reserve raises interest rates, your bank will raise your interest as well. If the prime lending rate is low, variable rate loans and credit cards can be especially competitive with fixed rate loans.

Fixed rate loans and credit cards offer you guaranteed interest rates that do not fluctuate. You will know what your payments are each and every month based on the fixed rate percentage of the loan that you took out. This offers consumers more emotional security because they do not have to worry about their monthly bill increasing suddenly.

All borrowers should understand that variable rates are different than teaser rates. Teaser rates are temporary and last only for a limited time, usually three to six months. Once that period of time is over, the rate will go up and so will your monthly bill.

One of the most important principles behind a loan is establishing a good credit history. The fastest way to get a poor credit rating is to not pay your monthly bill or to be habitually late in paying your bill. These activities are usually reported to the three big credit reporting agencies and this information will stay on your credit history record for years to come. If you must take a loan out make sure that you can make the monthly payments on time.

If you have any questions about your loan or the interest that is being charged ask the credit person to explain it to you in detail. They are happy to do this. As a general rule, try to keep your non-mortgage debt payments below 10-15% of your monthly take home pay.

Peter Kenny is a writer for The Thrifty Scot, please visit us at Unsecured Loan and Consolidation Loan

Visit http://www.thriftyscot.co.uk

Filed Under: Fixed Rate Credit Card Tagged With: Basic, Loan, Principles

Basic Principles of a Loan

1 May, 2011 By avillanueva Leave a Comment

Basic Principles of a Loan

Article by Peter Kenny

Understanding the basic principles behind a loan can save new borrowers a lot of stress and make the borrowing process easier. This article will explore some of those loan basics.

A consumer loan is simply when a financial institution lends you money with the promise (from you) that you will repay the money. Most loan payments include both principal and interest.

Principle is the amount of money that you borrowed. Interest is the price paid for borrowing money; this is usually expressed as a percentage.

Variable Rates versus Fixed-Interest Rates

About the Author

Peter Kenny is a writer for The Thrifty Scot, please visit us at Unsecured Loan and Consolidation LoanVisit http://www.thriftyscot.co.uk

Filed Under: Fixed Rate Credit Card Tagged With: Basic, Loan, Principles

Choosing the Right Credit Card to Avoid Debt Management Troubles

30 April, 2011 By avillanueva Leave a Comment

Choosing the Right Credit Card to Avoid Debt Management Troubles

Credit cards are considered as a blessing to those who can use it properly. But to those who are having debt management problems because of undue usage of credit cards, it can be an excruciating curse because it can also give you a bad credit history if you don’t use it well.

In order to avoid debt management problems, people must know how to choose the right credit card for them. The following tips can help you choose the right credit card, which can veer you away from debt management problems. If you are getting your first credit card or you would want to avail of another, you must always:

- Consider interest rates. In most credit cards, interest rates come as “fixed-rate” or “adjustable rate”. If you opt not to choose low APR credit cards, you may consider choosing fixed rate credit cards. Many people—especially those who pay off their balance monthly or those who only use cards for small purchases-opt to use cared that has a fixed rate. Even if the rate is a point or two higher than the usual, it ensures that they can pay off their loan quickly without even noticing the difference.

- Conduct an extensive research on credit card fees, transaction fees, and other charges. Fees can be considered one of the bloodlines of most credit card companies. Since numerous companies are infamous for charging their clients fees that add up quickly, one should make sure to check the fees section of the credit card disclosure section before fully indulging into it. Some of the known fees collected are annual fees and cash advance fees.

- Check the length of “grace period.” The term “grace period” or “interest-free time” refers to the amount of time between the date of a purchase and the date interest starts being charged on that purchase. Majority of credit cards offers a standard grace period, which means that as long as the person pays for his/her bill monthly, there will be no finance charges. Since not all credit card companies offer a grace period, be careful not to choose them because they might charge interest immediately on every purchase you make.

- Avail of other benefits. Aside from convenience, other the additional benefits when one applies for a credit card include insurance, credit card protection, discounts, rebates and special merchandise. Other benefits also include rewards programs that lets you earn points that can give you cash back, free gas, gift certificates and free plane tickets. Before choosing the right credit card for you, you must consider whether or not these offers can make positive impact on your financial management.

- Take note of the credit limit. Basically, credit limit is defined in dollars as the total amount of credit a credit card holder is authorized to use. Apart from clearly identifying credit line and the size of the credit line, credit limit encourages and helps the holder to decide how reliable he/she can be when it comes to paying on time and keeping him/herself under the card’s limit.

- Make sure to understand all necessary and additional terms. While it is very important for you to identify first your credit card needs, it is equally important for you to understand almost all the underlying terms in credit card application and acquisition such as “amount due,” “minimum monthly payments,” and “prime rates” because many people are having a hard time managing their debt because they did not take time to fully understand these simple terms and its underlying conditions.

Filed Under: Fixed Rate Credit Card Tagged With: Avoid, card, Choosing, Credit, Debt, Management, right, Troubles

Selecting Your Credit Card Based On APR

29 April, 2011 By avillanueva Leave a Comment

Selecting Your Credit Card Based On APR

If you expect to always pay your monthly bill in full–and other features such as frequent flyer miles don’t interest you–your best choice may be a card that has no annual fee and offers a longer grace period.

If you sometimes carry over a balance from month to month, you may be more interested in a card that carries a lower interest rate (stated as an annual percentage rate, or APR).

If you expect to use your card to get cash advances, you’ll want to look for a card that carries a lower APR and lower fees on cash advances. Some cards charge a higher APR for cash advances than for purchases.

What are the APRs?

The annual percentage rate–APR–is the way of stating the interest rate you will pay if you carry over a balance, take out a cash advance, or transfer a balance from another card. The APR states the interest rate as a yearly rate.

Multiple APRs
A single credit card may have several APRs:

One APR for purchases, another for cash advances, and yet another for balance transfers. The APRs for cash advances and balance transfers often are higher than the APR for purchases (for example, 14% for purchases, 18% for cash advances, and 19% for balance transfers).

Tiered APRs. Different rates are applied to different levels of the outstanding balance (for example, 16% on balances of -0 and 17% on balances above 0).

A penalty APR. The APR may increase if you are late in making payments. For example, your card agreement may say, “If your payment arrives more than ten days late two times within a six-month period, the penalty rate will apply.”

An introductory APR. A different rate will apply after the introductory rate expires.

A delayed APR. A different rate will apply in the future. For example, a card may advertise that there is “no interest until next March.” Look for the APR that will be in effect after March.

If you carry over a part of your balance from month to month, even a small difference in the APR can make a big difference in how much you will pay over a year.

Fixed vs. variable APR
Some credit cards are “fixed rate”–the APR doesn’t change, or at least doesn’t change often. Even the APR on a “fixed rate” credit card can change over time. However, the credit card company must tell you before increasing the fixed APR.

Other credit cards are “variable rate”–the APR changes from time to time. The rate is usually tied to another interest rate, such as the prime rate or the Treasury bill rate. If the other rate changes, the rate on your card may change, too. Look for information on the credit card application and in the credit card agreement to see how often your card’s APR may change (the agreement is like a contract–it lists the terms and conditions for using your credit card).

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Filed Under: Fixed Rate Credit Card Tagged With: based, card, Credit, Selecting

Finding the Credit Card Thats Right for you

27 April, 2011 By avillanueva Leave a Comment

Finding the Credit Card Thats Right for you

Before signing up for the first low-rate offer that comes your way, shop around. Maybe that great rate only lasts six months or the annual fee eats up any savings you could enjoy from the low introductory rate.

Do a little comparison shopping and you might find a card with the same rate for at least a year or another card with the same deal but no annual fee.

If you’ve had your card for a while, shop around again because now there may be a new deal with the same card company, or a different, better arrangement out there with another card company that wants your business.

Cards may come with either a fixed rate or a variable rate of interest.

Balance all the numbers

Experts commonly suggest that a low, fixed-rate credit card is better than a low, variable-rate credit card. Card companies can raise their fixed-rate cards when interest rates go higher, but change is not automatic and they need to give you 15 days’ notice. With a variable-rate card your rate can move regularly and without any prior notification.

Rule of thumb: A low, fixed-rate card is better than a low, variable-rate card.

Information like that — when a card company can raise your rate — is often buried in mail they send you. So always be careful: that may not be useless promotional/advertising junk you’re throwing away from your credit card company’s envelope. It may be important. For example, it may be a notification that your fantastic rate triples the first time you’re late with a payment. The same advice applies not only when you’re searching for a card, but after you get one — check out all that “junk” mail in your statement envelope before you toss it.

Be sure you are aware of your payment profile, because the way you plan to pay your bills is important when it comes to choosing a card. Paying every cent every month (instead of paying just a part of it) changes what you are shopping for.

Be honest with yourself

Get real. You may say you’ll pay off every statement in full every month, and you may even promise that you’ll have a zero balance by the time the teaser rate expires — but will you? Unless this is your credit history, don’t make promises to yourself you can’t keep. Because if you don’t do what you said you’d do you may be stuck with a very, very expensive card.

Make sure you confirm with a company that they are offering what you think they are offering. It’s very easy to misunderstand some of the arcane information there in the small print. Go over it with them, then ask if they can do better — their best offer may not be the first deal they offer you.

Understand key numbers before you sign: What is the APR, annual fee, grace period, penalties, late payment charges, over-the-limit fees and interest rates on any cash advances, and under what circumstances can the card company change your interest rate (or any other terms of the deal)?

Don’t plan to rely on your credit card as a source of cash advances. You should only get cash advances when it is absolutely necessary because they usually come with higher interest rates

Annual fees aren’t things you ordinarily want on a credit card. But in cases where you intend to carry a balance, you may want a card that has an annual fee. That’s because it may offer substantially lower interest rates.

APR alone doesn’t make the deal

The interest rate you pay (best calculated as an annual percentage rate) may not by itself determine if you have the best deal. The way that APR is applied to outstanding balances can vary — and that can mean more, or less, comes out of your pocket to pay for the luxury of borrowing money. Penalty fees or other additional charges (e.g., annual fee, late fee) also need to be figured into the value of any deal. For example: If you know your credit history and you know that, despite your best efforts you’re going to be late a few times with the payment, use a calculator to see if a card with a slightly higher interest rate but lower late fee might be a better deal.

But the lower the rate the more you save on the finance charges that are applied to outstanding balances. You should look for credit cards that offer a low intro rate (usually for at least 6 months). But be sure you know what happens when that introductory (or “teaser”) rate expires. What is the new rate? Does anything else in the deal change apart from the rate?

You can also take your balance at a card company charging you a high interest rate and transfer it to another company with a lower rate.

Card perks may cost you

Remember to balance your numbers. Cards offer perks and kickbacks and they may just have something perfect for you — and that can balance out a higher interest rate. If you don’t intend to carry a balance for long, you may want to choose a card that offers these rewards even though the interest rate might be a few percentage points higher than another card.

Card issuers may offer additional options. Some are valuable and save you money. Some aren’t and don’t. Some may be added automatically and give you no choice, some you may have to ask for, some you may be able to turn down. Some you may agree to without knowing it if you don’t read all the fine print in your deal or your monthly card statement.

Popular options commonly include:

• cash rebates on certain purchases (or in some cases all purchases).

• purchase protection — a sort of insurance for what you buy with the card.

• discounts on a lot of good and services.

• insurance on such things as travel or auto rentals.

• frequent-flier miles.

What if you’re preapproved?

Preapproved means little. It simply means the card company is aware of your credit history and standing. It doesn’t automatically give you any special rates or breaks when it comes to the terms and costs of the deal. And the small print will generally give your card company the opportunity to change the deal you were preapproved for.

Once you’ve got the card, monitor your statements closely and make sure you aren’t throwing out important account information with that junk mail in the statement envelope.

Be sure you know what you owe, what you’ve paid and where you stand. Otherwise it’s easy to have trouble build up and one day surprise you. Or you may simply miss the chance to get an even better deal.

An essential tool for finding the best card is the creditcards.ezwebmall.biz. It’s a great reference, comparison and information site. Keep it handy as you keep refining your choices.

Thanks

Donald Martin http://www.ezwebmall.biz

Filed Under: Fixed Rate Credit Card Tagged With: card, Credit, Finding, right, that's

Are You Looking For A Credit Card?

24 April, 2011 By avillanueva Leave a Comment

Are You Looking For A Credit Card?

The emergence of electronic age made almost everything possible to people. Determining and curing terminal diseases made convenient, reaching uncharted territories became a possibility, and most of all; everyday life of people is made easy by the technology. We now have more convenient stores, easier means of transportation and a variety of gadgets that makes work and pleasure almost effortless.

When it comes to finances, technology through efficient banking system and services has given people better alternatives and options how to manage their finances. Among the so many financial management schemes that emerged, one alternative stands out among the rest the credit card.

Credit card, especially to working people and those who live very busy lives, has become an ultimate financial ‘savior’. More than just being a status symbol or an add-on to expensive purses and wallets, credit card has revolutionized the way people spend their money.

But, more than the glamour and the convenience credit card brings, there is much more to this card than most people could ever imagine.

Credit Card 101

Before indulging much into the never-ending list of the advantages and disadvantages of having a credit card, it is very important for people to first have a brief realization of what credit card really is in order for them to maximize its potentials.

In layman’s terms, credit card is a card that allows a person to make purchases up to the limit set by the card issuer. One must then pay off the balance in instalments with interest payments. Usually, credit card payment per month ranges from the minimum amount set by the bank to entire outstanding balance. And since it is a form of business, the longer the credit card holders wait to pay off his or her entire amount, the more interest pile up.

Since having a credit card is a responsibility, only those people who are of legal age and have the capability to pay off the amount they are going to spend through their credit card, is allowed to have one. Actually, most of the adults in the U.S. use credit card because this is very convenient compared to carrying cash or checks every time they have to purchase something.

It is also equally important to be familiar with the different types of credit cards before you begin to build up credit card balances and to avoid having a nightmare of debt. Since credit cards are indispensable to most consumers, it is a must that they understand the types of card that include charge cards, bankcards, retail cards, gold cards and secured cards.

All of these types come in one of two interest rate options the fixed and variable. Actually, it doesn’t really matter if you decide to have a fixed-rate credit card because the interest rate remains the same. Compared to variable rate cards where rate may be subject to change depends upon the credit card issuer’s discretion, fixed-rate carry higher interest rates.

Basically, credit card grantors issue three types of accounts with basic account agreements like the ‘revolving agreement’ a.k.a. Typical Credit Card Account which allows the payer to pay in full monthly or prefer to have partial payments based on outstanding balance. While the Charge Agreement requires the payer to pay the full balance monthly so they won’t have to pay the interest charges, the Instalment Agreement, on the other hand, asks the payer to sign a contract to repay a fixed amount of credit in equal payments in definite period of time.

Another category of credit card accounts includes the individual and joint accounts where the former asks the individual alone to repay the debt while the latter requires the partners responsible to pay. The common types of credit cards available through banks and other financial institutions also include Standard Credit Cards like Balance Transfer Credit Cards and Low Interest Credit Cards; Credit Cards with Rewards Programs like Airline Miles Credit Cards, Cash Back Credit Cards and Rewards Credit Cards; Credit Cards for Bad Credit like Secured Credit Cards and Prepaid Debit Cards; and Specialty Credit Cards like Business Credit Cards and Student Credit Cards.

Now that you have an idea how many types of credit card there is, it is now time to review your goals before applying for one. Some of the things you should consider is how will you spend with the credit card monthly, if you plan to carry a balance at the end of the month, how much are you willing to pay in annual fees, if you have a strong credit history and is does your credit in need of rehabilitation. Once you have an idea of what you are looking for choose the right credit card for you by researching the information you need that will fit your basic needs. You may also review the credit cards you’ve research and compare them.

Shopping for a credit card?

Regardless of the type of credit card you choose, be sure to discuss your specific financial needs with your financial advisor or accountant before applying for any credit card. It is a must that you understand the benefits of having a credit card like safety, valuable consumer protections under the law, and the accessibility and availability of services. The most popular credit cards include Chase Manhattan Bank, Citibank, Bank of America, BankOne, American Express, Discover Card, First Premier Bank, Advanta, HSBC Bank, and MasterCard Credit Cards.

Although having a credit card is synonymous to invincibility, this may also trigger a person’s thirst for material things and may lead into the temptation of buying something they don’t really need. A credit card bearer should always have in min that having a credit card is a big responsibility. If they don’t use it carefully, these may owe more than they can repay. It can also damage their credit report, and create credit problems that are quite difficult to repair.

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Filed Under: Fixed Rate Credit Card Tagged With: card, Credit, Looking

Finding a Low Interest Credit Card Offer

24 April, 2011 By avillanueva Leave a Comment

Finding a Low Interest Credit Card Offer

If you listen to the experts, they’ll tell you that a low, fixed-rate card is better than a variable rate credit card that starts low and then slowly creeps up its interest rate every year. The difference is that fixed rate credit cards tend not to have jumpy rates as much. And if a card company does decide to raise a fixed rate card, they have to tell you first. With a variable rate card, the rates do tend to move a lot, and the credit card company does not have to warn you when they do.

Right now, you’re probably waiting for one thing—how you can get your hands on one of those prime fixed rate credit cards! It’s one thing to understand how much better an idea they are, but it’s a whole better thing to actually have one in your wallet. But hold your horses. There are some other factors that you need to consider before you jump on the fixed rate bandwagon.

First, think hard and honest about how you use your credit cards. Do you keep debt on them one month to the next, or do you tend to pay off the entire balance every month? And remember, we said be honest. Because if you lie to yourself—and say you’ll pay off your payments every month, and then don’t—you could end up with a very bad credit situation, whether you’re interest rate started low or not.

Plus, don’t just jump into a fixed rate card because that flyer in the mail said it was great. Credit card agreements are very complicated things. They can include, in the very fine print, pretty stiff penalties if you are late on one payment, for instance, or go over your balance once. In that case, they could jack up your low rate, and turn your card from fixed rate to variable, just like that. So before you agree to anything, speak with a person at the credit card company and get all the facts about the card.

A big detail that you should ask about on your new cards, especially the ones with low starting interest rates, is: when does that great interest rate expire. Even you act squeaky clean with your card, never make a late payment, and never go over your balance, chances are, that low interest rate, whether fixed or variable, will jump up after a set amount of time, say like six months. It’s important to know that, because another card may give you the low introductory interest rate for 18 months.

Joshua Shapiro recommends Find Credit Cards to find the right low interest credit card offer for you. See http://www.findcreditcards.org/type/low-interest.php for more information.

Filed Under: Fixed Rate Credit Card Tagged With: card, Credit, Finding, interest, Offer

Gold Card Canada : Choosing a Credit Card With Fixed APR

23 April, 2011 By avillanueva Leave a Comment

Gold Card Canada : Choosing a Credit Card With Fixed APR

There are various kinds of credit cards available for customers that it can be really difficult to work out which is the best. However, the fixed rate credit card is one kind of card that is quite popular. With all the benefits of a normal card, a fixed rate credit card provides you the peace of mind that your APR will remain the same for a given time.

A fixed rate credit card is a card which has an annual percentage rate that will remain the same for a certain period of time – mostly 3 to 5 years. This means that during the period, you will pay a fixed interest. Having a fixed rate card is great if you have a stable job with a fixed income and you can’t afford your repayments to rise. This lets you know how much you will actually pay every month, which will let you effectively budget your resources.

The Capital One Gold MasterCard only gives you a low long-term rate of 11.9% on balance transfers and purchases guaranteed for three years, as long as you pay your bills on time. After that, the low variable rate of Prime +9.9% on purchases with annual interest rate of 19.8% for cash advances can be enjoyed.

Annual fees also play a big role in owning a credit card. Balance transfer fees, cash advance fees, balance transfer fees and penalty fees are just some of the annual fees that are being charged to credit card owners. If summed, these fees can stack up to be a huge amount.

A 0% APR credit cards on the other hand are designed to help consumers lessen their debts. However, to prevent the dangers linked with these cards, you must have self-control, which is highly risky. You have to keep in mind that 0% only applies to the balance transfer. So if you were to go on a shopping spree or a vacation with your credit card, you still have to pay the interest on the additional charges. In addition, the zero APR only lasts for a short period of time. No matter how good the offer may be, it will end sooner or later.

Choosing a credit card with a fixed annual percentage rate over a zero percent credit card has its perks. And Capital One Gold MasterCard has the best fixed low interest rate in the market.

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Filed Under: Fixed Rate Credit Card Tagged With: Canada, card, Choosing, Credit, Fixed, Gold

How to Use Multiple Balance Tranfer Cards. Specifically 0% Interest Credit Card Offers

23 April, 2011 By avillanueva Leave a Comment

How to Use Multiple Balance Tranfer Cards. Specifically 0% Interest Credit Card Offers

Credit Card Trifecta: This is no gamble

Creative Thinking: breaking out of the box:

When it comes to breaking out of the shelled way individuals are trained to think; you need to do the forbidden. You need to embrace credit cards as a very useful financial tool. In order to start your thinking process down the right track you will first need to change your preconceived notions that “Credit cards are bad”. Everyone thinks a car loan is acceptable to barrow ,000 to ,000 but if you tell a person that you have ,000 on a credit card they flinch shrug their shoulders and get a bad opinion of you. You need to do the exact opposite of what you are told is bad for your credit. Businesses will tell you credit cards are bad for you, wrong! It is bad for the businesses bank accounts. The Credit Card Trifecta strategy is the best for your checking account balance. You will learn how to get the best possible interest rates each and every time you need a loan. Every time you make a purchase of mid size to big ticket items you should have a plan. Do not rely on retail stores 0% financing as you are falling back into the splurge spending credit card trap.

The Basics: Know your tools

0% on Purchase – Planned correctly you can purchase your mid size ticket items. 0% on purchase works within this principle. Usually when you make your purchase, and are charge a fee of a rate of approximately 3% with a minimum fee and maximum fee of usually less than 0. The timeframe ranges from 6 to 12 months with an immediate rate hike of 10% to 15+% it just depends.

0% on Balance Transfer- Use this to consolidate current debt, notice this didn’t say credit cards, into a manageable situation. This is a great way to pay off bills quickly. Usually when you transfer, you are charge a fee of a rate of approximately 3% with a minimum fee and maximum fee of usually less than 0.

On balance transfer you usually pay a fee, but be aware there are credit cards that do not charge a fee to transfer. The timeframe ranges from 6 to 12 months with an immediate rate hike of 10% to 15+% it just depends.

Fixed Rate – balance transfer for large debts, purchase of big ticket items, consolidation of current debt this is where most are too closed minded. Most think only in terms of credit cards when you should really examine all of your current bills. Usually when you make your purchase, and are charge a fee of a rate of approximately 3% with a minimum fee and maximum fee of usually less than 0.

Advance techniques: The Credit Card Trifecta Strategy

1) Get a low fixed credit card for daily use. Make all of your monthly purchases on this card. The idea is to pay off this card monthly. If it is not possible, having fixed is the best possible place to owe as it will help you to prevent high interest rates over the long term financing.

2) Use 0% on balance transfers or 0% on new purchases to buy big ticket items with a budget to pay them off. The key is to never use that credit card to charge again. You must completely pay of that card. (Generally your current credit card companies will not give as nice of offers as ones you don’t have. The credit card companies that do not have your business generally give a little more in the beginning.)

3) Get a low fixed rate credit card for the life of the balance and put any debt that you currently pay higher interest rates on that credit card. The key is to transfer as much debt as possible when you first get this card, since the fixed rate will usually go up for later transfer.

A simple plan:

1) Make a list of what you owe for every bill you have a monthly payment. Your columns headings should be this:

a. Name of Debt (significant to you)
b. Balance due
c. Interest Left
d. Monthly Payment
e. Current Interest Rate

2) Determine how you can save money

a. For instance if you have a credit card that was originally 0% financing that you where unable to pay it off within the specified time frame you are now being charge 10% to 23% a month on a balance of 00. Say you can make a monthly payment of 0 towards that debt. Most can get a 0% credit card offer to cover 00 dollars. Transfer that amount onto that card because the standard transfer fee is 3% which equates to to make the transfer. is much less than 10 to 20% you are charged throughout the year.

b. For higher ticket items you may not want to keep getting taken for 3% up to 0 every time you transfer, but you make still be saving money in the long run. First of all if all of your payments go straight to interest you balance will go down faster, while you minimums will decrease as well. If you can find companies that do not charge the 3% fee you can say even more.

c. If you can’t get a credit card company willing to give you the 0% and or do not have the time to keep transferring your balance then opt for the low fixed credit card offers which are fixed offers for life of the transfer. They key to these cards are simple you get the credit card make the transfer and never every touch the card until it is paid off.
3) Research multiple credit cards and start applying for the credit cards

4) Transfer your balances and or make your purchases

5) Review balances every year or after you have paid off a big bill or a couple of smaller ones or every year whichever is the first. Make sure to review as your credit limits will increase as you prove your timeliness, and so on.

6) After reviewing apply again to save more money.

After extensive searching I wanted to pass on this information. These are two website in which I have seen highly competitive offers: 0% interest credit card offers or for more balance transfer cards

Filed Under: Fixed Rate Credit Card Tagged With: Balance, card, Cards, Credit, interest, Multiple, Offers, Specifically, Tranfer

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