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Personality types of Spenders

admin — Tue, 17 Nov 2009 21:34:30 +0000

Overwhelmed. That feeling many people can experience when searching for a new credit card. No annual fees, cash back, airline miles are all benefits you will come across in your search. So to find the best credit cards for you, find one that offers perks that you can actually take advantage of. Of instance, if you don’t travel, accumulating airline miles will be of no benefit to you at all. Consider your personality when choosing the best card for you. Understand how you spend, that is good place to start and will help narrow the field. Not all those offers that come in the mail are the best for you. The Diva personality likes the best of everything, like a pair of new shoes. This type of spender needs lower interest rates and no annual fees. The Avoider type doesn’t like to talk about money so should avoid high limits since it will just get him into trouble. The Futurist has his finances under control so rewards that pay dividends over the long haul are beneficial. He should have a card that puts money into his IRA. This type doesn’t need perks or low rates, he is a responsible credit personality.

Credit cards

admin — Thu, 13 Aug 2009 23:27:09 +0000

This is one of the most competitive industries of today. Just a few years back is was a big deal to get a credit card even. Now anyone can get a credit card if they have a decent stable income. The interest rates are ever dropping to an extent where credit card companies are even offering 0 % interest rate credit card. In the present economic condition people have cut down of big purchases hence credit cards are not making big business. So they are minimizing interest rates to encourage usage of credit cards. Most purchases over the internet also require credit cards. It is a growing competitive industry and people get really good deals over the internet. But beware of the authenticity of these web sites before giving your credit card information and details to them. Giving it to fraud sites could lead to misuse of information. 0 % interest credit cards also provide a good way to reduce the credit burden of your existing high interest rate credit cards through easy balance transfer. You could reduce 70 percent of the money you pay as interest by using this facility. As you have the holiday season approaching choose the best credit card according to your needs and enjoy the benefits.

Are Balance Transfers really worth it?

admin — Wed, 25 Feb 2009 16:18:09 +0000

Balance transfers allow the consumer to take the balance from one credit card, and apply it to another credit card that comes with more favorable terms and lower interest rates. Balance transfers can be a convenient way to repay the debt directly to the principal, rather than making payments towards skyrocketing interest rates of credit cards.

There are many advantages to balance transfers. There are many introductory offers available through multiple credit cards that allow the consumer to transfer funds from a credit card that is reaching the limit and has a high interest rate to a card that can have a zero percent interest rate for up to twelve to eighteen months.

Taking advantage of these introductory offers can save hundreds of dollars per year in interest costs of the credit card, but there are certain aspects which should be taken into account when considering a balance transfer for your credit card.

What fees are associated with the balance transfer? Most companies charge a flat fee aside from the 3% of the balance that is being transferred to the new card. This amount is than added to the balance that is transferred.
Be sure to make payments throughout the entire period. If payments are missed, or even late it can mean that the interest rate is going to increase from 0% to upwards of twenty percent in some cases.
How long will it take you to repay the debt? If you are unable to repay the debt in the term that is free, considering finding another method to repay the credit card debt.