"Think what a better world it would be if we all, the whole world, had cookies and milk about three o'clock every afternoon and then lay down on our blankets for a nap."Barbara Jordan
|
| |
Credit Card Debt In The United States
It's no secret that credit card debt in the United States is at an all-time high. The U.S. is a culture of spending rather than saving and with the increasing cost of living and the low minimum wage; it seems that no one is invulnerable to credit card ...
Credit virus Debt
Secured And Unsecured Debt. What's The Difference? It's easy to just think that debt is just debt, but in reality, there are different types of loans, and it's important to know what which type you have. You will need to understand the differences in ...
Getting Out and Staying Out of Credit Card Debt
Credit card debt is a major cause of over one million bankruptcies each year. The reason is that many people get a credit card without researching and reading the fine print. By the time annual fees are added on, along with spending indiscriminately, ...
|
|
|
| |
During the days when the federal bank interest rates were at its lowest, back in 2002 and 2003 to be specific, countless credit card providers offered 0% APR credit cards to many consumers. Needing only to pay the outstanding balance, smart consumers were able to charge up to their limits without incurring monthly interest charges. The question that some people were asking when these cards were at their peak of popularity was this: how do credit card providers make money off of this type of plan? Well, good question! Let's examine 0% APR credit cards and the way they really work and if they are still available to you today. You just might be surprised at the answers!
Annual Fees. Depending on the credit card provider, some card holders have been charged an annual fee for the privilege of having a 0% APR credit card. Annual fees for some of these cards generally run from $15 to $20, even higher.
Late Fees. You would think that if customers had a 0% APR credit card that they would always pay them on time, right? Well, many do not. So, every time a payment is received late credit card providers would assess a late fee. With fees ranging from $19 to $39, that can add up especially if someone is habitually late.
Default Rate. Oh, that 0% rate is nice on the surface. Read the "member's agreement" and you will quickly learn that late payments will not only incur a fee, but a "default rate" would be charged bumping up the annual percentage rate to double digit figures on existing balances as well as on new charges! If you are late you can say, "bye, bye" to your 0% APR credit card in no time.
Short Term Offer. 0% APR credit cards are still offered today. Almost always they are cards for new card holders that offer a 0% rate for a limited period of time, such as twelve months, before a higher rate kicks in, which usually is around 12%. Some cards will allow you to transfer existing credit card balances over to the new card and receive the 0% rate on transferred balances. What a great way to cut your costs and save money too!
Don't worry about credit card providers having difficulty making money even with low or 0% APR credit cards. Rates have since increased, in some cases dramatically, making it more difficult to find a low interest rate credit card. Still, great offers exist, but you must know where to find them. Searching online for your 0% APR credit card is a great way to quickly find and compare the best 0% APR offers available.
Copyright 2006 Ed Vegliante.
About the author:
Ed Vegliante runs the website http://www.credit-card- surplus.com, a directory enabling the consumer to compare and apply for a variety of credit card offers including 0% APR Credit Cards. View more Credit Card Articles.
|
|
|
|
|
|
 Abramoff Gets Four Years for Corruption - Washington Post
WASHINGTON -- A federal judge has sentenced disgraced lobbyist Jack Abramoff to four years in prison. The judge could have sentenced Abramoff to 11 years, but he gave him credit for helping the FBI investigate influence-peddling scandal. With ...
See today's average credit card rates across the country. - MSNBC
WASHINGTON - The historic takeover of Fannie Mae and Freddie Mac, which could come as soon as this weekend, moved to the forefront of the presidential campaign Saturday as candidates and congressional leaders seized on the enormous implications for ...
Credit crunch hits high street fashion sales - The Independent
New research suggests that the pile 'em high, sell 'em cheap ethos of the British high street may finally be on the way out. With more than one in three women now unable to justify the cost of keeping up with the latest fashions, the carousel of ...
20,000 students to benefit from more college credit - Chicago Sun-Times
• • Range from $3,500 to $20,500. • • Carry an interest rate of 6.8 percent or lower, compared with rates of up to 18 percent for private loans. • • Be backed by the federal government. Despite the current nationwide credit crunch, the ...
'Credit Slump For 18 More Months' - Ananova
The credit crunch could last another 18 months, the head of Britain's largest mortgage provider has warned. HBOS chief executive Andy Hornby said house prices were not likely to rise again until 2010 while lenders waited "to give the confidence back ...
|
