Maintain your old Siemens Hipath system

Pitfalls of the Credit Industry

The credit industry if rife with pitfalls. If you have ever owned a credit card you probably already have learned this the hard way. If you have not owned a credit card previously you should definitely learn all you can about these convenient little suckers (literally) before you commit to any contract.

While not all credit cards are the same many do have similar things in common. For instance they will all charge you interest on your purchases. The only difference there is the amount of interest and how long after you make your purchase that you begin getting charged the interest.

Most people assume that they will not be charged interest for at least a month. This is called the grace period. The thing is that not all credit cards have the same length of grace period. Some companies have 15-day grace periods and others have none at all. This is the kind of thing that you need to find out before you ever make a charge on your card.

When you apply for a credit card you may be offered a lower interest rate. This "introductory rate," as it is called, is most likely only temporary. Once you have owned the card for a few months your interest rate will go up substantially. And the thing is that credit card companies can change their interest rates whenever they feel like it. Did you know that? It's true.

There is a clause in most credit card contracts that allow for the lender to up their interest rates at any time as long as they give you 15 days notice. No matter what rate is quoted in your contract they have this right.

One of the common myths people succumb to when using their credit card is the belief that paying of your balance every month is a good thing. Well, surprise, it's not. People who do not carry a balance on their cards are considered to be "deadbeats/" That's right the responsible, conscientious people are the bad guys. Creditors don't like them because by paying off their balance all of the time they are not letting the lenders make any money off of them. The interest is why they give you credit in the first place, that is their bread and butter. If you were not paying interest why would they want to bother with you?

If you are a deadbeat there is a better chance of your credit card company raising your interest rate or even eliminating your grace period. You might even begin to be charged annual fees for your card. Credit is not free after all.

Credit cards are a great tool to have at your disposal. They can help you get out of a jam quickly and easily, but don't let yourself get carried away by the convenience that they offer. Try to keep your credit card spending to a minimum and you will find in the end you are much better off.

Martin Lukac, represents, #1 Loans USA, a finance web-company specializing in real estate/mortgage market. We specialize in daily updates, rate predictions, mortgage rates and more: http://www.1LoansUSA.com

In The News:

Reunion for boy separated by Trump immigration policy
Sat, 21 Jul 2018 02:40:00 +0100
A boy who appeared in court after being separated from his father when they illegally crossed the US border has been reunited with his parents.

Trump 'secretly taped talking about Playboy model payment'
Fri, 20 Jul 2018 16:48:00 +0100
Donald Trump's former lawyer secretly taped a conversation the pair had about payments to an ex-Playboy model, according to a report.

Duck boat tragedy: 'Captain said leave life jackets'
Fri, 20 Jul 2018 21:55:00 +0100
A woman who lost nine members of her family, including her children and husband, when a "duck boat" sank claims the captain told people not to put on life jackets.

Gunman kills father of school shooting survivors
Sat, 21 Jul 2018 08:25:00 +0100
The father of two survivors of a high school massacre in Florida has died after being shot at his convenience store.

10 hurt in knife attack on crowded bus in Germany
Fri, 20 Jul 2018 16:54:00 +0100
At least 10 people were injured, including three seriously, in a knife attack on a bus in Germany.



tikatoshop.it

Erfahrungen mit Pallhuber Wein
Agen Bola SBOBET Terpercaya

Travel in comfort and at your leisure with CT Airlink Limousine & Car Service for top quality private transportation and exceptional customer service. We operate Sedans, SUVs & Vans for CT Car Services to covering all Connecticut airports including Car Service from CT to Newark Airport , Mohegan Casino Uncasville CT, Foxwoods Casino Mashantucket CT, Manhattan Cruise Terminal NYC, Brooklyn Cruise Terminal NYC and Bayonne Cruise Terminal NJ. CT Airlink hire licensed and friendly chauffeurs who have in-depth knowledge of the Areas.

Credit Cards: How To Use Them

Credit cards can be a very quick way of getting... Read More

How A Prepaid Debit Card Can Help You Rebuild Your Credit

Consumers today are up to their eyeballs in debt. And... Read More

Credit Cards: Pros and Cons

Sure, there are a lot of problems with credit cards,... Read More

Everything You Always Wanted To Know About Your Credit Report

Your credit report is a very powerful report that essential... Read More

Five Reasons to Repair Your Credit Score - You Can Do It Yourself

There are multiple reasons that tell us why we should... Read More

Are 0% Credit Cards Reaching Their End?

Are Credit Card companies starting to feel the pinch? We... Read More

How To Protect Yourself Against Credit Card Fraud

In the high tech world of today, credit card fraud... Read More

Various Types of Credit Cards - Part 2

Several different types of credit cards offer several different options,... Read More

Important Things to Know About Divorce and Credit

Joint debts remain joint debts.Both spouses signed a legally binding... Read More

Learn How to Improve Your Credit Score

Having a damaging credit record can hurt you in many... Read More

Minimize your Risk for Identity Theft

Identity theft is the fastest growing crime in America. According... Read More

Credit Cards And Loans - So Many Options - So Little Time

Credit Cards and Loans sounds like just two things, but... Read More

Credit Repair: How To Deal With Your Creditors

If you are in danger of credit problems because you... Read More

Like It Or Not, You Have A Score To Settle! Part 1

Just when most people finish with school and can stop... Read More

Teaching Students To Keep Out Of Credit Card Debt - The Parents Role

Parents have the full responsibility for their children and their... Read More

Student Credit Cards

STUDENT CREDIT CARDS With graduate debt averaging... Read More

Harassment of People in Debt by Creditors

HarassmentHarassment of people in debt by creditors or their agents... Read More

Do You Know Whats On Your Credit Report ?

It is important to know your credit rating for a... Read More

Credit Card Disclosure Table ? Do You Understand It All?

In addition to the APR (annual percentage rate) and the... Read More

Protect Yourself Against Identity Theft

Identity theft is when someone uses, without permission, your personal... Read More

Two Things You Need To Know About Prepaid Debit Cards

According to the September 2004 issue of the Nilson Report,... Read More

Credit Reports: Find out why you have been refused Credit.

You may already have 2 or more credit cards in... Read More

How You Can Help Prevent Identity Theft

How can I prevent Identity theft from happening to me?... Read More

To Repair Credit Is No longer Satisfactory - Learn How To Earn A Millionaires Credit In 30 Days...

To repair your bad credit does not necessarily mean that... Read More

How Healthy Is Your Credit

There's only one way to discover the "health" of your... Read More