Thursday 3 May 2012
Balance Transfer Credit Card Offers
Balance transfer credit card offers most usually involve no interest payments on balance transfers for an initial period. This period might be a year or a different length of time. This article will tell you all about the advantages of this type of offer.
This type of offer can be used in two main ways. The first way is to save paying interest on existing borrowing. The second way this type of offer can be used is to actually make money, although this is less common, it is still an easy and legitimate option for many people.
To use this option to save paying interest on existing loans, one needs to transfer the balances of the existing loans to the new credit card. This means that no interest is charged at all for the initial period, and this means that repayments can be used to pay down the balance, rather than just keeping up with the interest repayment and making no real progress. This option can be of considerable value if used sensibly.
The method of making money with this offer is to use the available funds to invest. The safest form of investment is probably a high-interest bank account. All the interest received is pure profit, and the balance can be repaid just before the interest on the card starts becoming due. This method is sometimes used in other forms of investment, although it is vital that the risk is taken into account.
Investing in a new business using this method is sometimes done, but is extremely risky. Statistics show that more than 90% of new business ventures fail, so the risk is extreme, even though the profits can also be huge when the business is successful. Examples of this approach include the movie "Clerks", and, it is rumored, the Google company.
Other investment types which could be funded in this way include promissory notes which typically deliver 12% interest, or stocks, commodities or currencies, which carry a considerable risk since relatively small investors usually lose to the major players.
Balance transfer credit card offers can be extremely valuable if used wisely, but be careful to be aware of the real levels of risk, and also to consider other factors about the card in question.
Wednesday 2 May 2012
Best Business Credit Cards
The best business credit cards vary according to the specific needs of the business. Different businesses will get maximum benefits from different features.
Business cards offer similar features to those for individuals, but usually also add unique features which are very useful for corporations or small businesses.
The features which are typical of all types of cards include 0% interest for a certain period (often a year) either on balance transfers, purchases or sometimes both. Rewards of various types are also usually offered. These rewards might include air miles, cash back which might have different percentages for different categories of expenditure, discounts and special deals on purchases, priority treatment and other advantages.
Many companies use travel as part of their business needs. Some offers include higher cash back percentages on gas purchases for example, and others have air miles available for particular airlines. These types of rewards can be very valuable for certain companies.
Cards for companies usually include features such as multiple cards, often with different assignable limits on each card which can be very useful when allowing employees to make certain types of purchases for the business. Another feature is reports of expenditure and other data, which are often free and can be daily. Companies can also often get generous credit limits.
Some cards meant exclusively for particular business needs include those which offer a large amount of short-term credit. They sometimes have a grace period before any interest is applied, but might have an unusually high interest rate after that time. These can be very useful for companies which have short-term cash-flow fluctuations.
The best business credit cards vary in detail often, as different terms, conditions, rewards, and interest rates can be offered from time to time, so check for the latest details when you need one.
Business cards offer similar features to those for individuals, but usually also add unique features which are very useful for corporations or small businesses.
The features which are typical of all types of cards include 0% interest for a certain period (often a year) either on balance transfers, purchases or sometimes both. Rewards of various types are also usually offered. These rewards might include air miles, cash back which might have different percentages for different categories of expenditure, discounts and special deals on purchases, priority treatment and other advantages.
Many companies use travel as part of their business needs. Some offers include higher cash back percentages on gas purchases for example, and others have air miles available for particular airlines. These types of rewards can be very valuable for certain companies.
Cards for companies usually include features such as multiple cards, often with different assignable limits on each card which can be very useful when allowing employees to make certain types of purchases for the business. Another feature is reports of expenditure and other data, which are often free and can be daily. Companies can also often get generous credit limits.
Some cards meant exclusively for particular business needs include those which offer a large amount of short-term credit. They sometimes have a grace period before any interest is applied, but might have an unusually high interest rate after that time. These can be very useful for companies which have short-term cash-flow fluctuations.
The best business credit cards vary in detail often, as different terms, conditions, rewards, and interest rates can be offered from time to time, so check for the latest details when you need one.
Top Credit Cards
Top credit cards can be compared by many different measures of preference. Interest, which may be zero for an initial period is one important factor. Other factors include rewards, annual fees, late payment fees, and other details of the account.
It's easy enough to find information which says that a particular card is "top", but really there is no such thing as a particular top credit card, because each persons needs are different. So to choose which is the best offer for you personally, it is a good idea to start by looking at your own personal finance situation and needs, and so see which offers are most useful to you personally.
Some people are trying to get out of debt, some need some available cash flow for purchases of one type of another. Some people need to borrow for the long term, some people might always keep the balance positive and use the account in other ways. Have a think through what you need financially, and what would help your situation the most right now.
For anyone who wants to decrease their debt, the interest owed on existing borrowing can be a huge problem. Often the repayments which are made barely cover the interest so the debt itself is not being paid off and is remaining about the same. There are particular offers which can make a huge difference to this problem. These offers are zero percent interest on balance transfers.
These 0% balance transfer offers can be used by moving existing debt to the new account and thus saving having to pay any interest on it for the initial period. This makes it possible to pay down the debt itself while not increasing the current monthly repayment amount at all, and thus make a real difference towards reducing the debt itself.
The other offer of no interest for an initial period applies to purchases, and so can be really helpful to anyone who needs to purchase certain items. Rewards can also be useful, such as cash-back and special offers.
The top credit cards for you personally can help your finances considerably, so choose wisely!
It's easy enough to find information which says that a particular card is "top", but really there is no such thing as a particular top credit card, because each persons needs are different. So to choose which is the best offer for you personally, it is a good idea to start by looking at your own personal finance situation and needs, and so see which offers are most useful to you personally.
Some people are trying to get out of debt, some need some available cash flow for purchases of one type of another. Some people need to borrow for the long term, some people might always keep the balance positive and use the account in other ways. Have a think through what you need financially, and what would help your situation the most right now.
For anyone who wants to decrease their debt, the interest owed on existing borrowing can be a huge problem. Often the repayments which are made barely cover the interest so the debt itself is not being paid off and is remaining about the same. There are particular offers which can make a huge difference to this problem. These offers are zero percent interest on balance transfers.
These 0% balance transfer offers can be used by moving existing debt to the new account and thus saving having to pay any interest on it for the initial period. This makes it possible to pay down the debt itself while not increasing the current monthly repayment amount at all, and thus make a real difference towards reducing the debt itself.
The other offer of no interest for an initial period applies to purchases, and so can be really helpful to anyone who needs to purchase certain items. Rewards can also be useful, such as cash-back and special offers.
The top credit cards for you personally can help your finances considerably, so choose wisely!
Tuesday 1 May 2012
Credit Card Comparison
Credit cards comparison can be challenging, with large numbers of offers each with different features and details. This article will present some of the more important ways to compare competing offers and get what's best for your needs.
Firstly, it is important to realize that since different people have very different financial situations and needs, there is no single "best card". When researching card comparisons it is easy to find articles and other advice which attempt to tell you that one particular card is "best". Please realize that any such information is at best incorrect, and is usually trying to make you believe something which is likely to be against your best interests.
So before even looking at different offers, it is best to begin by looking at your own financial situation and needs for the near future. Is it best for you to save paying interest on existing borrowing, or do you need cash available soon for a particular purpose? What categories of purchases do you spend most money on which could give you benefits from certain reward offers? Do you travel by air a lot, or do you spend a lot on gas? Look at these, and other aspects of your finances so you can keep in mind what's likely to be best for you, as you compare cards.
One of the most useful offers for some people is 0% interest for an initial period (typically a year). There are two main ways this can be used if the zero interest refers to balance transfers (sometimes it refers to purchases only). Firstly, it can be used to avoid paying any interest on existing borrowing which you transfer into the new account. Secondly if you transfer the available capital to a savings bank account you can make a profit. Obviously, if you have existing borrowing, you are likely to save more by avoiding paying the interest, than the profit you will make from a savings account, so be sure to carefully think through the different options.
Rewards are another important are to consider when comparing. Cash back can be useful particularly if higher percentages are offered on a category in which you spend a lot such as gas. Air miles can be another advantage if you use air travel frequently. Other rewards include special deals on certain purchases, free gifts and even payments towards a mortgage.
Credit cards comparison can be complex, but if you start from your own financial needs, then find which benefits fit your needs best, can be made easy.
Firstly, it is important to realize that since different people have very different financial situations and needs, there is no single "best card". When researching card comparisons it is easy to find articles and other advice which attempt to tell you that one particular card is "best". Please realize that any such information is at best incorrect, and is usually trying to make you believe something which is likely to be against your best interests.
So before even looking at different offers, it is best to begin by looking at your own financial situation and needs for the near future. Is it best for you to save paying interest on existing borrowing, or do you need cash available soon for a particular purpose? What categories of purchases do you spend most money on which could give you benefits from certain reward offers? Do you travel by air a lot, or do you spend a lot on gas? Look at these, and other aspects of your finances so you can keep in mind what's likely to be best for you, as you compare cards.
One of the most useful offers for some people is 0% interest for an initial period (typically a year). There are two main ways this can be used if the zero interest refers to balance transfers (sometimes it refers to purchases only). Firstly, it can be used to avoid paying any interest on existing borrowing which you transfer into the new account. Secondly if you transfer the available capital to a savings bank account you can make a profit. Obviously, if you have existing borrowing, you are likely to save more by avoiding paying the interest, than the profit you will make from a savings account, so be sure to carefully think through the different options.
Rewards are another important are to consider when comparing. Cash back can be useful particularly if higher percentages are offered on a category in which you spend a lot such as gas. Air miles can be another advantage if you use air travel frequently. Other rewards include special deals on certain purchases, free gifts and even payments towards a mortgage.
Credit cards comparison can be complex, but if you start from your own financial needs, then find which benefits fit your needs best, can be made easy.
Instant Approval Credit Card Offer
An instant approval credit card offer can get you an account in sometimes just a few seconds online! For example, the American Express Preferred Rewards Gold Card is rumored to approve applicants in less than 60 seconds online.
Once approved you are likely to receive the card itself within a few days in the post. Occasionally further research is needed to approve your application, which can take about ten days.
Instant approval used to be only available for those with the very best credit scores, but these days the range of possible applicants is far greater, so even if your credit rating is not great, you still might qualify. Finding out is quick and easy online.
If you don't qualify right now, it is usually possible to improve your rating through careful changes in your financial activity. However a lot of the information which claims to be able to improve your rating, is misleading or dangerous. Non-profit organizations are one of the best sources of correct unbiased information if you wish to know more about improving your rating.
While obtaining the card rapidly is sometimes best, other factors should be taken into account when comparing offers. Zero percent interest for an initial period is one common benefit which can be of huge value. If applied to balance transfers it can be used to either avoid paying interest on existing borrowing or to actually make a profit by transferring funds to an interest-paying savings account.
Other details to consider when comparing cards include rewards and fees. Rewards can be of great benefit if you choose those which fit your needs the best. Such rewards as air miles, price reductions on certain items, cash-back, or even payments towards a mortgage, can all be useful to certain people. So before you compare features, think carefully about your financial activity and which types of rewards would benefit you most.
An instant approval credit card offer, also sometimes known as online approval, can be of great value, and if the features of the account are chosen carefully, can be a real help to your finances.
Once approved you are likely to receive the card itself within a few days in the post. Occasionally further research is needed to approve your application, which can take about ten days.
Instant approval used to be only available for those with the very best credit scores, but these days the range of possible applicants is far greater, so even if your credit rating is not great, you still might qualify. Finding out is quick and easy online.
If you don't qualify right now, it is usually possible to improve your rating through careful changes in your financial activity. However a lot of the information which claims to be able to improve your rating, is misleading or dangerous. Non-profit organizations are one of the best sources of correct unbiased information if you wish to know more about improving your rating.
While obtaining the card rapidly is sometimes best, other factors should be taken into account when comparing offers. Zero percent interest for an initial period is one common benefit which can be of huge value. If applied to balance transfers it can be used to either avoid paying interest on existing borrowing or to actually make a profit by transferring funds to an interest-paying savings account.
Other details to consider when comparing cards include rewards and fees. Rewards can be of great benefit if you choose those which fit your needs the best. Such rewards as air miles, price reductions on certain items, cash-back, or even payments towards a mortgage, can all be useful to certain people. So before you compare features, think carefully about your financial activity and which types of rewards would benefit you most.
An instant approval credit card offer, also sometimes known as online approval, can be of great value, and if the features of the account are chosen carefully, can be a real help to your finances.
Monday 30 April 2012
Travel Credit Cards
Travel credit cards can be a great help when away from home. Relevant rewards can be of great value, such as air miles, free or discount hotel accommodation, but care should be taken to choose a card which suits your needs best.
Some offers include special sign up bonuses including 20,000 air miles (or similar points) when you get the card. Other valuable offers include 0% initial APR which can either be for purchases or for balance transfers. If the latter, it can be of great value for either avoiding paying any interest on existing debts, or for making money by using available funds to place into a savings account or similar investment.
One thing to watch out for is that some cards limit you to one airline or one hotel chain. This is OK if that's the one you always use anyway, but otherwise can be less use than a more flexible offer.
Some accounts include annual fees. Although this might seem like a bad idea at first, those which have fees often offer much better rewards and other features. So have a look at your use of credit, and calculate how the rewards balance against the fees for each particular card to see which gives you the most advantages.
Some cards charge you a 3% foreign currency conversion fee. At the time of writing, it was said that Capital One and Discover don't charge you this much, but this can change at any time, so please check the details when you are ready to get a card.
Other features of use include various types of insurance for purchases etc., as well as other useful services offered by some. Don't forget that you can use the internet to locate local ATM machines when you are in unfamiliar areas, as well as asking locals.
At the time of writing MasterCard is offering 3 nights for the price of 2 in Asia for Accor hotels. There are often special offers like this, so check to see which cards present such promotions most often, and which are likely to be of most use to you personally.
Travel credit cards can be of great value, especially if you choose one which suits your needs best.
Some offers include special sign up bonuses including 20,000 air miles (or similar points) when you get the card. Other valuable offers include 0% initial APR which can either be for purchases or for balance transfers. If the latter, it can be of great value for either avoiding paying any interest on existing debts, or for making money by using available funds to place into a savings account or similar investment.
One thing to watch out for is that some cards limit you to one airline or one hotel chain. This is OK if that's the one you always use anyway, but otherwise can be less use than a more flexible offer.
Some accounts include annual fees. Although this might seem like a bad idea at first, those which have fees often offer much better rewards and other features. So have a look at your use of credit, and calculate how the rewards balance against the fees for each particular card to see which gives you the most advantages.
Some cards charge you a 3% foreign currency conversion fee. At the time of writing, it was said that Capital One and Discover don't charge you this much, but this can change at any time, so please check the details when you are ready to get a card.
Other features of use include various types of insurance for purchases etc., as well as other useful services offered by some. Don't forget that you can use the internet to locate local ATM machines when you are in unfamiliar areas, as well as asking locals.
At the time of writing MasterCard is offering 3 nights for the price of 2 in Asia for Accor hotels. There are often special offers like this, so check to see which cards present such promotions most often, and which are likely to be of most use to you personally.
Travel credit cards can be of great value, especially if you choose one which suits your needs best.
Best Credit Card Deals
The best credit card deals are those which offer benefits which match your personal financial needs the best. As with many such areas, there is a lot of advice which attempts to tell you that there is one "best" offer. Since such "advice" completely fails to take into account that different people have very different financial situations, it is misleading and should be ignored.
The best way to see which offers will be of most benefit to you personally is to start by having an honest look at your own finances. Take a good look at your spending. What categories do you spend most money on? Also look at your existing debts and how they are progressing.
There are a wide variety of different benefits offered by credit cards. These might include 0% interest rates for an initial period as well as various rewards. Rewards can include a wide range of different things such as air miles, discounts on hotels, travel, and purchases, cash-back, special offers and free gifts and even payments towards a mortgage.
0% interest on balance transfers for an initial period can be one of the most valuable offers for some people. The two main uses of this benefit are as follows. Firstly one can transfer existing borrowing onto the new account and so save having to pay any interest on it, and thus focus on paying down the borrowing itself rather than just paying off the interest each month.
The second use of such an offer is to use the available money to make a profit by receiving interest payments. This can be done by putting the funds into a savings bank account for example.
Cash-back can be a very valuable offer for some people, particularly larger percentages on particular categories of expenditure that you use a lot, such as gas. Other types of rewards can suit different individuals better. As this article is explaining, the way to find the best credit card deals for you personally is to ignore any general advice recommending a particular offer, and start by looking your own financial situation.
The best way to see which offers will be of most benefit to you personally is to start by having an honest look at your own finances. Take a good look at your spending. What categories do you spend most money on? Also look at your existing debts and how they are progressing.
There are a wide variety of different benefits offered by credit cards. These might include 0% interest rates for an initial period as well as various rewards. Rewards can include a wide range of different things such as air miles, discounts on hotels, travel, and purchases, cash-back, special offers and free gifts and even payments towards a mortgage.
0% interest on balance transfers for an initial period can be one of the most valuable offers for some people. The two main uses of this benefit are as follows. Firstly one can transfer existing borrowing onto the new account and so save having to pay any interest on it, and thus focus on paying down the borrowing itself rather than just paying off the interest each month.
The second use of such an offer is to use the available money to make a profit by receiving interest payments. This can be done by putting the funds into a savings bank account for example.
Cash-back can be a very valuable offer for some people, particularly larger percentages on particular categories of expenditure that you use a lot, such as gas. Other types of rewards can suit different individuals better. As this article is explaining, the way to find the best credit card deals for you personally is to ignore any general advice recommending a particular offer, and start by looking your own financial situation.
Reward Credit Cards
Reward credit cards are common these days and can offer big benefits to users. Rewards can include a wide range of different things, such as cash-back, air-miles or even payments towards a mortgage!
While rewards are a big incentive to choose a particular card, it should be kept in mind that other features and details of a card can make a big difference too. The interest rate is obviously one important factor. Many offers these days include an initial interest-free period (sometimes a year). If this zero interest period applies to balance transfers it can be extremely useful.
A 0% rate on balance transfers can be used to save paying interest on existing loans by transferring the borrowing onto the new account. Even more exciting is the fact that such offers can be used to make "free money" by putting the available funds into a high-interest savings account for the initial period.
Don't believe any information which tries to tell you which rewards are "best". This is nonsense because different rewards are better for different people, depending of course on your spending patterns and financial situation.
To find the best rewards for you, first look at your personal finances. What do you spend most money on? What types of spending do you regularly do which align with a type of reward?
Air-miles can be a great reward for those who travel a lot by air. Hotel discounts and special deals can also be valuable to those who stay away from home regularly. Some rewards are specific to a particular company, such as those on the Disney card which include discounts and special offers on Disney products, free trails and tickets as well as priority bookings at certain events.
Cash-back is a popular reward. It can have different percentages for different classes of expenditure. For example some offers give a larger percentage on gas purchases, which can of course be really useful if you spend a lot on gas.
Reward credit cards are a great choice as they give you additional benefits, but be sure to check all the details and be sensible in your choice of offers.
While rewards are a big incentive to choose a particular card, it should be kept in mind that other features and details of a card can make a big difference too. The interest rate is obviously one important factor. Many offers these days include an initial interest-free period (sometimes a year). If this zero interest period applies to balance transfers it can be extremely useful.
A 0% rate on balance transfers can be used to save paying interest on existing loans by transferring the borrowing onto the new account. Even more exciting is the fact that such offers can be used to make "free money" by putting the available funds into a high-interest savings account for the initial period.
Don't believe any information which tries to tell you which rewards are "best". This is nonsense because different rewards are better for different people, depending of course on your spending patterns and financial situation.
To find the best rewards for you, first look at your personal finances. What do you spend most money on? What types of spending do you regularly do which align with a type of reward?
Air-miles can be a great reward for those who travel a lot by air. Hotel discounts and special deals can also be valuable to those who stay away from home regularly. Some rewards are specific to a particular company, such as those on the Disney card which include discounts and special offers on Disney products, free trails and tickets as well as priority bookings at certain events.
Cash-back is a popular reward. It can have different percentages for different classes of expenditure. For example some offers give a larger percentage on gas purchases, which can of course be really useful if you spend a lot on gas.
Reward credit cards are a great choice as they give you additional benefits, but be sure to check all the details and be sensible in your choice of offers.
Sunday 29 April 2012
Credit Card Ratings
Credit card ratings usually refers to consumer comparisons of different credit cards showing which is said to be better. Another use of the term is with reference to investment in such areas, but this is a much rarer and more specialized use of the term. This article will focus on the use of the term in the more common consumer comparison meaning.
It is easy to find comparisons of credit cards on the internet, with different scores given to different aspects of their performance, such as overall satisfaction, fees, billing and payment, rewards etc. For example, one such comparison rates American express and Discover card as best, with National City and Wells Fargo next.
However, it should be realized that many such comparisons are biased as the business which makes the comparison makes money out of the results in some way such as by advertising on the same page. So it is obvious that such a comparison is unlikely to rate a card that they are making money from advertising, as really low, because they won't make them so much money. So don't believe too fully what you see in such comparisons.
Another vital point often overlooked is that any comparison which says that one card is "better than" another, is not really correct. The reason for this is that each individual's financial situation and financial needs are different. So what might be the very best card for one person might not be suitable at all for someone else. So really there is no "best" card, and the intelligent approach is to first consider ones own financial needs then find one which best provides benefits that help your own situation.
One of the most useful offers for some people is zero interest for an initial period. If applied to purchases this can be beneficial for those who need to buy certain items, and if applied to balance transfers this feature can avoid all interest payments on existing borrowing, by moving the existing debts onto the new account.
Rewards are another area which can offer great benefits to some people, but different people might benefit from different rewards. Some people might find cash-back most useful, especially if it has higher percentages on categories which they spend a lot such as gas. Others might find air miles or special discounts more valuable. There are even cards such as the Disney Credit Card which offer a whole range of benefits relating to a specific merchant. While not of much use to many people, such specific rewards might be of huge value to particular consumers.
So while credit card ratings can be of some value, it is much more sensible to consider your own financial needs more than some averaged overall comparison.
It is easy to find comparisons of credit cards on the internet, with different scores given to different aspects of their performance, such as overall satisfaction, fees, billing and payment, rewards etc. For example, one such comparison rates American express and Discover card as best, with National City and Wells Fargo next.
However, it should be realized that many such comparisons are biased as the business which makes the comparison makes money out of the results in some way such as by advertising on the same page. So it is obvious that such a comparison is unlikely to rate a card that they are making money from advertising, as really low, because they won't make them so much money. So don't believe too fully what you see in such comparisons.
Another vital point often overlooked is that any comparison which says that one card is "better than" another, is not really correct. The reason for this is that each individual's financial situation and financial needs are different. So what might be the very best card for one person might not be suitable at all for someone else. So really there is no "best" card, and the intelligent approach is to first consider ones own financial needs then find one which best provides benefits that help your own situation.
One of the most useful offers for some people is zero interest for an initial period. If applied to purchases this can be beneficial for those who need to buy certain items, and if applied to balance transfers this feature can avoid all interest payments on existing borrowing, by moving the existing debts onto the new account.
Rewards are another area which can offer great benefits to some people, but different people might benefit from different rewards. Some people might find cash-back most useful, especially if it has higher percentages on categories which they spend a lot such as gas. Others might find air miles or special discounts more valuable. There are even cards such as the Disney Credit Card which offer a whole range of benefits relating to a specific merchant. While not of much use to many people, such specific rewards might be of huge value to particular consumers.
So while credit card ratings can be of some value, it is much more sensible to consider your own financial needs more than some averaged overall comparison.
0 APR Credit Card Offers
0 apr credit card offers can be very valuable to either save money or make a profit. This article will tell you exactly how to do both these things effectively.
The word APR means "Annual Percentage Rate" and refers to the interest rate on the card. So yes you really can find many these days which charge no interest at all for an intial period which can be a year.
The first point to bear in mind is that the zero percentage can apply to different things. On some cards it applies to purchases, which of course can enable you to buy things without paying any interest for the initial period, which can be very useful for some people. However, many zero percent initial rates apply to balance transfers which can be even more valuable as will be detailed below.
A 0% interest rate if applied to balance transfers can be used in two main ways both of which can be of great advantage to ones finances. The first of these ways can be used to save a lot of money on existing borrowing. What you do is you transfer the existing borrowing onto the new account and thereby avoid having to pay any interest on it at all for the initial period. This can be a huge benefit as many people typically make monthly repayments which barely cover the interest charged on their debts and so the debt itself stays about the same even though one is making a monthly repayment on it. So if the interest is completely avoided the same monthly payments wil be applied to reducing the debt itself instead of just paying off the interest.
The second way a balance transfer zero rate can be used is to actually make "free money". This is done by using the available funds on the new account to pay into another account which pays interest, such as a savings account. Then when the funds are repayed at the end of the 0% period, the interest received from the savings account is pure profit! Occasionally this approach is applied to other forms of investment other than a savings account, but most other types of investment carry a greater risk.
0 apr credit card offers can be a great help to ones personal finances, as has been detailed above.
The word APR means "Annual Percentage Rate" and refers to the interest rate on the card. So yes you really can find many these days which charge no interest at all for an intial period which can be a year.
The first point to bear in mind is that the zero percentage can apply to different things. On some cards it applies to purchases, which of course can enable you to buy things without paying any interest for the initial period, which can be very useful for some people. However, many zero percent initial rates apply to balance transfers which can be even more valuable as will be detailed below.
A 0% interest rate if applied to balance transfers can be used in two main ways both of which can be of great advantage to ones finances. The first of these ways can be used to save a lot of money on existing borrowing. What you do is you transfer the existing borrowing onto the new account and thereby avoid having to pay any interest on it at all for the initial period. This can be a huge benefit as many people typically make monthly repayments which barely cover the interest charged on their debts and so the debt itself stays about the same even though one is making a monthly repayment on it. So if the interest is completely avoided the same monthly payments wil be applied to reducing the debt itself instead of just paying off the interest.
The second way a balance transfer zero rate can be used is to actually make "free money". This is done by using the available funds on the new account to pay into another account which pays interest, such as a savings account. Then when the funds are repayed at the end of the 0% period, the interest received from the savings account is pure profit! Occasionally this approach is applied to other forms of investment other than a savings account, but most other types of investment carry a greater risk.
0 apr credit card offers can be a great help to ones personal finances, as has been detailed above.
Consumer Credit Counsel
Consumer credit counsel services can help people who have problems with credit or other financial areas. This article will tell you more about them, especially how to find the best ones for your needs.
Credit counseling is an area where there is a lot of misinformation. There are large numbers of companies and individuals currently giving extremely bad advice in order to make profits for themselves. Most of these profit-making businesses make their money depending on what services the client agrees to, so the interests of the business in maximizing their own profits are usually in direct opposition to the interests of the client.
The solution to this problem is to seek advice only from genuinely non-profit organizations. These are easy to find on the internet as long as you are careful to check that the credentials are genuine.
These charity organizations can help people get valuable information, ideas and options which help them feel more confident and able in managing their financial situation. The services are usually confidential and might be offered in person, over the phone on online. Some such organizations offer the service entirely free, some offer a free initial consultation but might charge low fees for subsequent sessions.
There are large numbers of people in the western world with serious credit or debt problems. This is even more true due to the economic challenges of 2008 and onwards. Typical problems might include having too much debt on credit cards or other types of loan, not being able to make any progress with reducing the debt, losing employment, and having challenges paying bills.
One of the major problems for many people is that they pay the required monthly minimum repayment, but find that this is doing little more than paying off the interest, so the debt itself is not really decreasing. One possible solution to this is to reduce the interest rate, so the same amount of monthly repayment pays down the debt itself. Obtaining a new credit card with zero interest can be one approach to this, as it avoids any interest payments for the initial period. However, one must be sure that this approach will not result in additional borrowing being made on the original account.
Consumer credit counsel can be very valuable if used wisely.
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