April « 2011 « Credit Cards – pay off interest rates

April 30, 2011

pay off credit card debt – I bet you did not know this

pay off credit card debt – I bet you did not know this

Credit card debt is a very massive problem that is being confronted by lots of people who’ve been irresponsible and undisciplined in using their credit card. Although some may need landed up with bank card debt as a result of some unfortunate occasion/emergency in their life, most individuals carry a bank card debt because of their very own incorrect doings (i.e. mistaken usage of their bank card debt).

There are plenty of ways to pay off credit card debt and a lot of people do achieve this feat (i.e. are in a position to pay off credit card debt). Certainly, to be able to repay bank card debt is really a nice achievement in itself for not everyone is ready to pay off credit card debt. It takes a whole lot of self-discipline, restraint, planning and perseverance to lastly pay off bank card debt. Nevertheless, there is more to paying off bank card debt then simply having the ability to repay credit card debt.

Here we are speaking in regards to the life after you pay off bank card debt successfully. As mentioned before, of all the those who try to pay off credit card debt not everyone is ready to pay off credit card debt i.e. there are some failures too. Nevertheless, some individuals fail after they’ve succeeded in paying off bank card debt. These are these individuals who let themselves free and go on a spending spree as soon as they pay off bank card debt. Soon, these folks once more land up with a bank card debt and are once more trying to pay off bank card debt.

So, it’s not sufficient to simply pay off credit card debt, it is equally vital to maintain a debt-free standing even after you pay off bank card debt; solely then are you able to enjoy a stress-free life in the world of credit score cards. So study your lessons well and do not let yourself unfastened on the path to a different credit card debt. Most of the rules that you simply followed if you had been making an attempt to pay off credit card debt, may also hold good after you might have paid off your bank card debt.

Here’s a fast synopsis of issues that you need to maintain even after you pay off credit card debt:
1) Don’t overspend. Yielding to the sale gives for something that you do not actually need, is a giant mistake that leads to overspending
2) All the time stay inside 70% of your credit limit.
3) Make bank card invoice funds in time and in full.
four) Don’t maintain more than 2 credit card accounts (two are sufficient for anyone)

These are just very staple items; you may add extra based by yourself expertise and knowledge.

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April 28, 2011

Credit Card Transfers Offers You a Credit Card Balance Transfer Automated Service

Filed under: Pay Off Credit Card — Tags: Automated, Balance, Card, Credit, Offers, Service, Transfer, Transfers — admin @ 8:36 pm

Credit Card Transfers Offers You a Credit Card Balance Transfer Automated Service

London and Miami (PRWEB) August 25, 2006

Who wouldn’t want interest free credit for years and years? In theory that’s possible. Consumers just ensure they sign up for a 0 interest credit card balance transfer every time their 0 interest period expires. But is the bank ever going to actually let people know when the expiry date comes round? Usually not, except in the small print. The 0 balance transfer credit card is not something the banks and credit card companies like reminding people of.

But all that is about to change. Technology can do a lot to simplify the way people handle their interest free balance transfer credit card accounts. If only people could remember exactly when the 0 interest balance transfer credit card period is about to elapse they could ensure 0 interest, free credit card use for a long time.

That’s where the Internet’s new Credit Card Balance Transfer Alert service comes in. Whenever a customer orders a credit card from this site they can send off what is known as an autoresponder. This will then tell the customer when the interest free period is due to expire. An email will arrive a week or so before the zero interest credit card time is up, thus allowing enough time for a 0 interest balance transfer to a fresh account.

This could be a 6 month interest free credit card or a nine month interest free card. In some cases there also exist 12 month interest free credit cards where the balance transfer can take place over just a few days.

CEO Gordon Goodfellow says ‘We already have hundreds of very satisfied customers on our credit card balance transfer alert service. People seem to like the simplicity of it. Who among us can remember a specific date just like that? In effect it means that our customers never have to pay for even one day’s interest being charged. It’s like having a 0 APR credit card for as many years as there are transfer offers.

‘Our records are updated electronically every time a new credit card with 0 APR offer comes along, so nobody misses out. The website gets data directly from the card providers to our customers.’

Best of all, the Credit Card Balance Transfer Alert Service is completely free.

Contact Gordon Goodfellow for more about this service.

Direct line: +44 208 421 0485

Other helpful information regarding the this product or service can be found at: http://www.credit-card-transfers.com and

http://www.credit-card-transfers.co.uk

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, Vocus PRW Holdings, LLC.
Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.

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April 27, 2011

What would be better to do pay off credit card debt or vehicle debt?

Filed under: Pay Off Credit Card — Tags: better, Card, Credit, Debt, vehicle, would — admin @ 5:05 am

Question by Hmmm: What would be better to do pay off credit card debt or vehicle debt?
My husband and i would like to sell our place and buy another place,however our debt income ratio is too high right now.
What would be better to pay off to lower our debt to help us move. Would it be better to pay off all our credit card / loan debt or one of our vehicles?
all our credit card/loan debt equals to around $ 10,000 and our vehicle is about $ 25,000

Thank you all for your help
i should also add that our credit card interest rate on everything is 19.9 % and up and our vehicle interest rate is 15%

Best answer:

Answer by Bored Again
Credit card debt is unsecured and (typically) has much higher interest rates. Pay those off first since they take the biggest hit on your credit scores. A vehicle loan is a different animal from credit cards and scored differently.

Add your own answer in the comments!

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April 25, 2011

Heading into Holiday Season, Credit Card Rates Rise Again

Filed under: Credit Card Interest Rate — Tags: Again, Card, Credit, Heading, Holiday, into, Rates, Rise, Season — admin @ 12:44 pm

Heading into Holiday Season, Credit Card Rates Rise Again

CLEVELAND, OH (PRWEB) November 22, 2005

With the unofficial holiday shopping season opening Friday, consumer credit card rates rose for the seventh straight week, according to the IndexCreditCards.com weekly Credit Card Monitor.

“Top-level” consumer credit carded averaged a 9.91% Annual Percentage Rate (APR), up from 9.87% last week and 9.51% seven weeks ago. IndexCreditCards.com uses “top-level” to describe Platinum or similarly designated credit cards that generally offer the lowest interest rates to eligible cardholders.

Consumer reward credit cards offered an average 11.23% APR, up from 11.19% last week and 10.75% seven weeks ago.

Student credit card rates increased to an average 14.98%, up from 14.96% last week and 14.72% seven weeks ago.

“While rates are static historically low, the sheering is continuing upward,” says Justin McHenry, Research Director for IndexCreditCards.com. “Of course the bad time to glimpse any rate increase is around the holidays, when people are most probable to rotate balances alternatively of forthwith paying for all those gifts.”

Business credit card rates held firm this week, at a mean 9.99% APR for top-level business cards and a mean 11.74% for business reward cards.

“As always, these averages are based on the lowest rates published by the card issuers,” says McHenry. “If you don’t have excellent credit, add 2% to estimate the rate you would likely receive. If your credit is poor, count on even higher rates.”

Financial institutions represented in the survey include Advanta, American Express, Bank of America, Capital One, Chase, Citi, Discover, MBNA, National City, Providian, Pulaski Bank, U.S. Bank, Wachovia, Wells Fargo and more.

About IndexCreditCards.com

IndexCreditCards.com offers credit card news, research, and possibly the most comprehensive index of credit cards uncommitted on the Internet today, with a master listing of over 500 credit cards as good as categorized lists based on interest rates, reward programs, business credit cards, student credit cards and credit cards for those with misfortunate credit histories.

Credit Card Monitor is a weekly appraising tracking average credit card rates in multiple card categories. Credit Card Monitor information provided in this release may be reproduced free of rushed, provided credit is given to http://www.IndexCreditCards.com.

CONTACT: Justin McHenry, 216.221.0312

WEBSITE: http://www.IndexCreditCards.com

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, Vocus PRW Holdings, LLC. Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.

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April 23, 2011

Average Credit Card Rate Tops 13 Percent

Filed under: Pay Off Credit Card — Tags: Average, Card, Credit, Percent, rate, Tops — admin @ 8:34 pm

Average Credit Card Rate Tops 13 Percent

Cleveland, OH (PRWEB) February 2, 2006

Tuesday’s hike in federal interest rates — the fourteenth straight hike from the Federal Reserve — helped push the average credit card interest rate past the 13 percent mark, according to the weekly IndexCreditCards.com Credit Card Monitor. Major credit card issuers including Bank of America, Citibank, National City, US Bancorp and Wells Fargo announced increases in their lending rates in response to the Fed hike, meaning another quarter-point bump for holders of these issuers’ variable-rate credit cards.

Variable-rate credit cards offer interest rates based on a formula that includes a base rate plus a percentage tied to federal lending rates. When federal rates move up, credit card rates follow.

The average credit card rate for standard, non-reward credit cards jumped to 13.02% this week, while the rate for credit cards offering rewards passed the 14 percent mark, to 14.09%. The news is better for consumers with the very best credit — for them, these averages are 10.28% and 11.61%, respectively.

As always, college students who carry balances are paying more. The average APR for a student credit card moved to 15.59% this week.

For the first time in five weeks, the average business credit card rate also increased. However, the rise was slight, and business card rates remained far below consumer rates. Standard business credit cards offered an average APR of 11.37%, while business reward credit cards offered an average rate of 13.22%.

“It’s unclear whether the Fed hikes are over,” says Justin McHenry, Research Director for IndexCreditCards.com. “With Ben Bernanke officially taking over for Alan Greenspan as Federal Reserve chairman, predictions are varied as to his philosophy. However, most experts think we’ll see at least one more quarter-point hike in March, so if you’re carrying a variable-rate credit card, now’s the time to get it paid off.”

About IndexCreditCards.com

IndexCreditCards.com offers credit card news, research, and perhaps the most comprehensive index of credit cards available on the Internet today, with a master listing of over 700 credit cards as well as categorized lists based on interest rates, reward programs, business credit cards, student credit cards and credit cards for those with poor credit histories.

Credit Card Monitor is a weekly survey tracking average credit card rates in multiple card categories. Credit Card Monitor information provided in this release may be reproduced free of charge, provided credit is given to http://www.IndexCreditCards.com.

Contact: Justin McHenry, 216.221.0312, j.mchenry @ indexcreditcards.com

Website: http://www.IndexCreditCards.com

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, Vocus PRW Holdings, LLC.
Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.

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April 22, 2011

Pay off Credit card or put incentive check into savings?

Filed under: Pay Off Credit Card — Tags: Card, check, Credit, incentive, into, savings — admin @ 4:36 am

Question by Maria: Pay off Credit card or put incentive check into savings?
I can pay off a credit card, but soon I’ll have to buy school supplies/clothes for my 4 kids and birthday and Christmas. Do I pay off the credit card and then save the payment for these purchases or do I put it all in saving and dip into it as I need to. My worry is that I’ll spend all of it faster if its in savings, or I’ll just use my credit card again. Any financial savy people out there able to give me advise?

Best answer:

Answer by damffool
A typical savings account pays 2 or 3% but an average credit card charges 18%. Do the math.

Add your own answer in the comments!

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April 20, 2011

Credit Card Interest Rates Trend Upward

Filed under: Credit Card Interest Rate — Tags: Card, Credit, interest, Rates, Trend, Upward — admin @ 12:54 pm

Credit Card Interest Rates Trend Upward

Cleveland, OH (PRWEB) October 12, 2005

Average credit card rates continue to climb, according to the weekly IndexCreditCards.com Credit Card Monitor. A quarter-point increase on many American Express cards had the biggest impact on this week’s averages. The increase from American Express was not surprising, as a hike in federal lending rates last month had already caused other financial institutions to raise rates.

“Top-level” consumer credit carded averaged a 9.64% Annual Percentage Rate (APR) in the latest survey, up from 9.51% last week. The lowest placed found for consumer credit cards without an annual fee was the Capital One Platinum MasterCard, offering a 5.9% APR. During the last week, Capital One shuffled its card lineup, removing the PrimeLock credit card from its offerings while reducing the APR on its Platinum card.

“Top-level” business credit cards averaged a 9.91% APR, up from 9.87%. The lowest rate for business credit cards with no annual fee was the Advanta Platinum BusinessCard, offering a 7.99% APR, as well as a program with travel or cash back rewards.

IndexCreditCards.com uses “top-level” to describe Platinum or similarly designated credit cards that generally offer the lowest interest rates to eligible cardholders.

“These averages are founded on the best rates publishing by the issuing credit card banks,” cautions Justin McHenry, Research Director for IndexCreditCards.com. “Consumers or businesses with excellent credit should be able to find cards at these rates, but those with shakier credit histories may not. If you don’t have transcend quality credit, add 2% to these averages as a rule of thumb in determining your probable rank.”

IndexCreditCards.com also surveys rates of reward credit cards for consumers and businesses, as well as student credit card. The latest averages include:

Reward cards for consumers averaged a 10.77% APR, up from 10.75%. The lowest APR in this group belonged to the MBNA Rewards American Express Card at 7.9%. Rewards cards for businesses had an average interest rate of 11.37%, up from 11.31%. The Advanta Platinum BusinessCard referenced above was the lowest rate offered at 7.99%. Student credit card rates stayed steady, with an average 14.72% APR. The Wachovia Student Visa offered the best APR at 9.9%. Student credit cards generally offer higher interest rates than basic consumer credit cards due to students’ lack of credit history.

About IndexCreditCards.com

IndexCreditCards.com offers credit card news, research, and perhaps the most comprehensive index of credit cards available on the Internet today, with a master listing of over 500 credit cards as well as categorized lists based on interest rates, reward programs, business credit cards, student credit cards and credit cards for those with poor credit histories.

Contact:

Justin McHenry

216.374.3176

http://www.IndexCreditCards.com

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April 18, 2011

As Credit Card Debt Tops $800 Billion, Holiday Shoppers Straddled With Debt Can Find Help

Filed under: Pay Off Credit Card — Tags: $800, Billion, Card, Credit, Debt, Find, Help, Holiday, Shoppers, Straddled, Tops — admin @ 8:29 pm

As Credit Card Debt Tops $ 800 Billion, Holiday Shoppers Straddled With Debt Can Find Help

Marstons Mills, MA (PRWEB) November 28, 2005

According to the Federal Reserve Board’s latest statistics released on November 7, total U.S. credit card debt recently topped the $ 800 billion mark. Meanwhile, holiday shoppers are flocking to the stores creating new debt. When the festive excitement of the holiday season has subsided, consumers straddled with debt can find help paying off their credit cards with a simple software tool called Credit Card Math.

While getting out of debt will never be painless, an easy to use downloadable computer program called Credit Card Math from ZilchWorks enables consumers to figure out the most effective yet affordable way to work free of their debt, paying significantly less interest.

“Most people have no idea how long it will take to pay off a credit card if they only make the minimum monthly payment,” says Michael J. Riley, creator of Credit Card Math. “For example, a credit card with a balance of $ 2,100 at an interest rate of 17.9% with a minimum monthly payment of $ 53, will take 15 years and 3 months to pay off. The interest penalty on that credit card is $ 2,488, that’s more than the balance. Credit Card Math goes behind the scenes and explains the hidden tricks used by credit card issuers that keep consumers on the debt treadmill.”

Since Credit Card Math software was introduced eleven years ago, Riley, a retired U.S. Marine Corps Gunnery Sergeant, has received countless thank-you letters from all over the world. In addition to Credit Card Math , Riley sells a do-it-yourself debt reduction program that helps users develop their own plan for becoming debt-free.

An easy to use program for Windows XP, 2000, NT, ME, 98 and 95, Credit Card Math helps the user understand the most common credit card traps, calculate the best way to manage and pay off multiple credit cards and see the effect over time of adding just $ 5 extra to each payment. For more information or to download a free copy of Credit Card Math, visit http://www.zilchworks.com.

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, Vocus PRW Holdings, LLC.
Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.

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The Best Credit Cards In America: Cash Back And Travel Rewards

Filed under: Credit Cards — Tags: America, Back, Best, cards, Cash, Credit, Rewards, Travel — admin @ 8:29 pm

The Best Credit Cards In America: Cash Back And Travel Rewards
Welcome to the first installment of Credit.com’s Best Credit Cards in America. Every three months, I’ll look at two specific categories and analyze the best cards in each group.
Read more on Business Insider

Peter Hoss, Scam of the Month: Understanding debit and credit cards
Credit cards and debit cards are common and users should understand the difference between them. In a store, for example, a debit card requires that a PIN number be given. But both types of cards require a PIN number when drawing cash from an ATM.
Read more on The Monterey County Herald

Credit card receivables up 4% in 2010
MORE Filipinos swiped their plastic money last year, latest figures from Bangko Sentral ng Pilipinas (BSP) showed and the country’s top issuers see this trend continuing this year.
Read more on Malaya

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April 17, 2011

Student credit cards can teach good lesson

Filed under: Credit Card Interest Rate — Tags: cards, Credit, good, lesson, Student, teach — admin @ 4:36 am

Student credit cards can teach good lesson
When the Credit Card Accountability, Responsibility and Disclosure Act was put into practice in February 2010, it limited the ability of anyone under age 21 to qualify for a credit card and banned issuers from using free gifts to entice students on college campuses to sign up for credit.
Read more on Chicago Tribune

Surprise! Banks cutting credit-card rates
NEW YORK — Credit card users are in for another surprise, and for a change it’s a pleasant one.
Read more on Reno Gazette-Journal

Credit card customers face higher costs
Credit card customers face higher costs, experts warned yesterday, as banks impose new charging structures on borrowers.
Read more on Daily Telegraph

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