Understanding Credit Card Fees
Some banks are eliminating the standard 25 or 30-day grace period within which you may pay your bill within being charged interest. This is the normal grace period before interest kicks in. But this is slowly changing. For example, some banks are offering extremely low fixed rates, but without a grace period. These cards will charge you interest from the date it processes your credit card charge.
If you usually pay your bills in full within the normal grace period, it is best you avoid no-grace-period cards. The 25 or 30-day grace period is more financially significant for you than a lower interest rate. However, if you carry a balance each month, you're better off with a lower interest rate. In this case, a lower interest rate can save you more money than a grace period would.
Most banks and thrifts charge interest from the day they process your charge slip when you use your card to get cash. In addition to this, some cards are now assessing cash advanced service charges based on a percentage of the amount received. It used to be that service charges were based on a fixed fee, regardless of the amount of transaction.
If you avoid interest charges by paying off your bill each month, seek out a card that offers very low interest rates plus a grace period on purchases. Some institutions periodically offer cards with no fee for the first year as a promotion.
Don't be lulled into getting "premium" credit cards such as "gold" cards and "Premier" cards. The only significant premium with these cards is the extra amount you pay in higher annual service fees. Besides the fancy finish of the card, the only other benefits you get with premium cards are travel insurance and the extra protection if your card is lost or stolen. Since by law, you are only liable for up to $50 if your regular credit cards are lost or stolen, the zero liability you are getting from premium cards is hardly worth the extra money.
There are a number of ways to borrow money interest-free if you take the time to operate the methods. However, one of the simplest ways is to borrow it from a bank which offers "overdraft protection."
Most real estate salespeople will tell you without hesitation that no-one can purchase real estate without a down-payment or credit check.
You got creditors calling you everyday. You could lose the car or house. Your teetering on the edge financial ruin - then you see an ad that may safe your butt!
A few years ago an industry emerged that served the needs of individuals who have had past credit problems, but can now afford monthly car payments. These companies helped people with past credit problems such as:
To work this plan you need at least $400 to begin. You should borrow this from your friends if necessary. Then go to a bank of your choice and deposit the $400 into a regular passbook savings account.
Creditors approve credit to those people who most closely match the right profile. They arrive at those conclusions by assigning point values to various items of information that are included either on your credit application or in a credit report.
It is the purpose of this report to teach you how to obtain a copy of your Consumer credit report and to remove such things as judgments, late payments, liens, or anything that is untrue or unfair from such reports, thereby improving your consumer...
We believe a fully informed consumer is in the best position to make a sound economic choice. If you are buying a home, and looking for a home loan, this booklet will provide useful basic information about ARMs.
There's an old saying "a bank won't lend you money if you really need it," and it's really almost completely true. Banks prefer to lend money or extend credit to people who already have lots of money, and carry the top credit cards.
The American economy is based on credit. If you don't have at least an average credit rating, you will find that getting approved for any type of loan, or credit card, will be very difficult - if not impossible.