 |
|
The source of the best business, financial and legal news |
|
|
||||
|
||||
|
||||
|
|
|
|
|
 | |
| |
 |
Business Informations |
|
|
|
Beware the Shopping Mall Monster
Like me, you've probably been offered a fair old number of these by now... ..and, if you're like most people, chances are you maybe own at least one or two. They always seem to put in an appearance at just the right (or wrong) moment... It might be Saturday and you've just seen the clothing item of your dreams. That can be a pain, though, if this month's paycheck isn't due for another week. You're undecided. Until, that is, you're offered... ..a store card. One of the horrible ironies about store cards is that the vast majority of people who sign up for one actually had no intention of making a purchase before they left the house. But if you're caught in the above situation, the convenience factor frequently wins the day, doesn't it? Add on top of this all the little goodies thrown in as a sweetener... An introductory discount on goods - typically around the 10% mark - extra money off during sales periods etc... But let me tell you what the sales assistant probably won't... For starters, did you know that many department stores will currently charge you anything up to 30% interest on that little card they offer you? (yes, even those ones with the pretty pictures.) That's around double the interest of your standard credit card! Sound scandalous? Well, hang around... it gets a lot worse! Here are just a few of the pitfalls you should look out for the next time you're offered a store card...
Probably the worst thing about store cards is that it's very easy to build up an array of them so that, before you know it, there seems to be more of them in your wallet than there are coat hangars in your wardrobe. And in what seems like no time at all... .. you've just spent way, way beyond your means! If you feel you must buy on credit why not use a credit card with a low or even 0% rate? After all, if you're going to have debts, you may as well make them cheap ones! A store card might seem handy and convenient but they generally come with a horrendous hidden cost. So next time you're a tempted to take on another piece of plastic, make sure you get all the facts up front. Your bank balance might just thank you for it. Copyright © 2004 by Colin McCaig mailto:colin@cmcaig.com About The Author Colin Mc Caig is dedicated to helping others become debt free and start their own home-based business. Get his free 6-part mini-course. Learn the powerful secrets to becoming debt-free using only the money you have today. Send a blank email to: mailto:colindebtfre@demandmail.com
MORE RESOURCES:
credit - Google News |
|
|
|
RELATED ARTICLES
The Art of Stoozing to Make Money from Credit Cards Make Money from StoozingStoozing, this is a sophisticated method of making money from credit cards that offer 0% introductory periods, the method requires cast iron discipline in never spending on the cards.But, I hear you all ask - what is stoozing and can I do it?Stoozing, in the simplest terms is borrowing money from credit cards that offer a 0% introductory deals and saving that money in a savings account for the duration of the offer on the credit card. Useful Tips on Using Credit Cards Here are some useful tips on using credit cards. Whether you shop online, by telephone or by mail, a credit card can make buying many things much easier; but when you use a credit card, it's important to keep track of your spending. Some Truth About Credit Credit is currently and has been historically an integral component of our economy. Credit contribute a person's net worth, and financial power. Warning: Todays Non Profit Credit Counselors Are Yesterdays Bill Collectors! Here's a dirty secret, today's "non profit credit counselors" are often just front organizations paid lucrative commissions by creditors to keep consumers from declaring bankruptcy!In the "debt collection biz", creditors will sell your outstanding debt along with the debt of hundreds of others to a collection agency for cash up front.The collection agencies will work this debt until they've made all the money they can. How Credit Scoring Works The all important credit score! It determines the amount of loan you can get, it determines the interest rate at which you are charged for a loan, etc. Your credit score plays an important figure in your financial life. Credit Reporting: How Does It Work? In order to determine a consumer's credit worthiness, creditors and lending institutions have come to depend on credit reporting agencies. Credit reporting agencies supply individual reports that provide consumer specific information for lending purposes. Tired Of Being Broke?...Learn How To Force Banks To Give You Money! Imagine.. Warning: Free Credit Report Imposter Websites Springing Up on the Web A recent amendment to the federal Fair Credit Reporting Act (FCRA) requires each of the nationwide consumer credit reporting companies to provide consumers with a free copy of their credit report, upon request, once every 12 months.Access to the free credit reports has been phased in beginning last December in the West and will finally be nationwide by 1 September. Good Credit is King, When Qualifying for Mortgage Programs If you want to purchase a new home or refinance your current mortgage, be sure to check out the wide array of loan programs available. If you have less than excellent or even poor credit, you can still qualify for a loan. Choosing The Best Credit Card To Apply For Always shop around to get the best deal when choosing which credit card to apply for. If you don't do your due diligence you could end up with a card that has too high of an interest rate, that has an unnecessarily high annual membership fee, etc. Good Credit Is a Necessity for Everyday Living Most of us want a good credit report to obtain vehicle financing, credit cards for emergencies and luxuries, and to finance a home mortgage. However, beyond these consumer loans, a great credit report makes your life easier. Discover the Parts of a Credit Report and What They Mean So you ordered a copy of your credit report to check for inaccuracies and get the most from your credit score. Now how do you read it? Your credit report is read and used by any number of people you deal with on a daily basis, from your landlord to your employer to a potential lender. Repairing Your Credit Score and Clearing Derogatory Marks on Your Credit Report Raising your credit score can be a fairly simple and straightforward process unless you have derogatory marks that need to be disputed (which will be explained below).The reasons for bad credit can be as follows, high balances, bankruptcies, late payments, and many others. Credit Card Balance Transfers Explained What is a balance transfer ? A balance transfer can be explained simply as a balance transfer! When a balance is transferred usually from a credit card, but possible from a bank account or loan to a credit card with a offer interest rate (usually 0%) for a set period. It does not have to be the entire amount. Figuring Out the Ever Nebulous Numbers Called Credit Scores Credit Score FactorsThe information contained on our credit reports affect every aspect of our lives; including employment, insurance, and even interest rates (mortgage, credit cards, automobiles, etc.). What is a Credit Report? Ever wondered what is a credit report? If you've ever applied for a credit card, a personal loan, or insurance, there's a file about you. This file is known as your credit report. 10 Ways To Boost Your Credit Score 1. Deleting Errors in 48 HoursThis is the absolute fastest way to correct errors on your credit report and raise your credit score. Guide to Credit Terms Listed below is a useful guide to credit card terms. It is a list of definitions of credit card terms that may or may not be familiar to you. Identity Theft - Monitor Your Credit Report The recent security breach at credit card processor CardSystems Solutions has many consumers worried. Thanks to a well-placed computer virus, nearly forty million credit card numbers were stolen, and cardholders nationwide are justifiably concerned about identity theft. Your Credit Score Credit scores: all lenders use credit scores to determine interest rates and credit limits.The credit scoring system was developed in the early 1950's.
|
| home | site map |
| © 2006 |
|
|
|
|
|
|
||||
|
||||
|
