The Tak Team Blog

Have you ever looked at your credit card statement and ended up just scratching your head in frustration? Well join the club! But don’t take any comfort in the fact that you have plenty of company, because lack of knowledge can cost you….right on your credit report, and once there can stay with you a while.

Adding to the challenge is that almost every creditor’s statement is slightly different, varying in format and billing cycle and interest calculations. You first want to check what you purchased and what you borrowed, so make sure you save all your receipts to make sure you weren’t charged for something you didn’t buy or were double billed. Immediately dispute any discrepancies via phone and in writing.

Next you’ll want to verify the interest rates being applied for each type of purchase. Remember, cash advances almost always carry a higher interest than normal purchases and interest usually accrues from the date you received the money. Also, if you have any balance transfers with introductory interest rates, verify that it is correctly noted and hasn’t been increased prematurely.

Review how your interest is calculated (this information is usually on the back of your statement) and make sure that the right rate has been used for each category. On purchases, most cards take your average daily balance over the billing cycle and divide it by one-twelfth of your annual percentage rate (APR).

Lastly, but maybe most importantly, make sure you send your payment in well before the due date. In order to have your payment credited on time to avoid a late fee, it must be posted by the due date shown on the statement. Therefore, if paying by mail, it is advisable to mail your payment at least a week in advance. For those whose cash flow doesn’t allow an early remittance, paying by phone or on-line might be a good alternative.

The Credit Counseling Foundation, Inc
provides web-based education and personalized consumer credit counseling to clients
and the general public in an effort to help consumers use credit wisely. Visit target=”_new”
us at www.godebtfree.com

So, you have decided you need a credit card. However, you must remember that not all credit cards are created equally. Your friend’s credit card doesn’t mean that it is also the best for you. Before going to this bank and get its credit card, you must consider the several factors that you should take into consideration when deciding which credit card you want to get.

Some of those factors include:

o Interest rate. When you are the type of person that pays off your balance monthly, you would probably disregard the interest rate. Unfortunately, most people are having problems keeping with their credit card balance. Most people do carry a balance in their credit cards. If you sometimes late paying and carrying a balance, then it would be the best decision to have a credit card with a low interest rate. Having a card with a low interest rate save you a lot of money. You might disregard the difference between a 10 percent and 20 percent interest rate, but the difference could be significant if you have balances for a long period of time. Major credit card companies like Visa, MasterCard, Discover, and AMEX, have low interest versions of their credit card.

o Reward programs. Visa, MasterCard, Discover, or American Express and other major credit card companies have reward programs. Reward programs give you special privileges or services for being a credit card holder. Some of these programs include frequent flyer programs, where you are given one frequent flyer mile for each dollar spent. If you are quite a traveler, then a credit card with this program might be for you. Some offer cash-back options. Most common are discount offerings at retail stores or online chains.

o Annual fees. The annual fee is an important consideration, especially those who have a hard time paying off their balances monthly. If you think that the annual fee you have to pay to keep your card is way too high compared with the privileges you get from your card, it would be probably better to stop using the card.

o Member benefits. Credit cards promise various benefits. Some have travel protection as part of the benefits, while others offer roadside assistance. You have to consider your lifestyle in checking out a card’s benefits.

Remember: On choosing credit cards, choose wisely. If you need to, discuss your specific financial needs with your financial advisor.

David Riewe is a Publisher and Online Marketer. Visit his Credit Resources Blog Below: www.push-button-online-income.com/creditcards/

Credit cards are intended to help you in your everyday living. It makes your life more convenient as you shop for your basic needs. Sometimes, when you are in the mood to shop, you forget that you are going to have to pay your bill at the end of the month. It gives you a headache when you see your balance.

Aside from the prices of the items that you purchase, you have to consider that it is always comes with interest. You cannot blame the credit card company because you have agreed to their policy.

Remember that prior to signing a contract with them; get yourself oriented first about the terms and conditions they set for their clients.

In other words, whether you accept it or not, you need to pay the bill.

There is a method on how you can lessen the cost of your bills. Aside from lowering the purchase of items every time you go shopping, you can also look for credit card companies that offer lower interest rate. Later on, you will realize that once the interest rate of every item that you purchase is lessened, the total amount of your bill will also fluctuate.

Another good alternative to do this is to lower the rate on your existing account.

Here are the tips that you can follow to get low interest rate on credit card.

• Contact the departments where you have existing credit accounts. Tell them to convert your credit account at lowest possible rate. It will help you to persuade them if you have a long time transaction with them.

• If your existing credit card company cannot grant your request, you can transfer to other companies. It is for your own welfare. If you stick to companies with a very high interest rate, it will all be your loss.

• The next step is for you to search for a company who is willing to accept applicants. You can inquire for their contact numbers if possible. Make sure that you also show interest in working with them. This will let them give you a positive response for your request.

• After you have completed all the necessary requisites that they asked from you, wait for a call for at least within a week. If you did not receive any response, just be the one to make a direct inquiry to their office.

• If the company rejected your request, they are obliged to cite their reason in a letterform for formality sake.

• Lastly, you can try in another company. Patience is highly recommended if you want to get a lower interest rate in your credit card. After all, you will be benefiting for the fruits of your labor when the time comes.

However, despite your persistence if you have bad credit history, your effort will be useless. You will be regarded as blacklisted in credit card companies. It will be hard for you to avail this advantage.

Therefore, the key if you want to get low interest rates on your credit cards is to have a good credit record. It is a fact that majority of the credit companies reserve slots for low interest rates to customers who are credible payer.

Morgan Hamilton offers expert advice and great tips regarding all aspects concerning Credit Cards. Get the information you are seeking now by visiting Low Interest Credit Card Offers