With the ever growing use of debit cards, credit card companies as well as merchants all around the country are being forced to take a risk by offering a cash only option. It all boils down to the following; if you prefer to travel by cash and you have access to a branch in your city that offers a credit card, you would definitely find it the perfect choice for you. If you carry a credit card balance to your bank account, it would all but eliminate the need for the cash. Yet, if you are not a frequent traveler, the choice of a credit card would negate the extra benefits and convenience because you would get cash only.
What the ‘Cash only’ offer would avoid is the end of a cash only shopping cycle. In fact, if you still carry all of your bank account balance in one swoop you would definitely be able to avoid the temptation of applying to a cash only card.
Most importantly, it would create a zero balance, zero annual fee, so you can use it at any point of the day or night. Simply put, a card with zero annual fee if you do not carry a minimum balance from one month to the next and an ever increased cost to replace.
Another advantage would be the fact that you could always opt to cancel the card by contacting its owner immediately. This is true both for the amount or amount owing after the due date. This zero balance option is a great, alternative to canceling your current card. There does not need to be a huge hassle or additional costs involved.
With the option of canceling the card, you could be saving hundreds if not thousands of dollars in interest payments every year and can easily enjoy the benefits of the zero debt limit card.
An Alternative to Cash Out
Most people don’t receive as much credit as they should. The reason is that the credit (what you get, really, depends on your credit-worthiness) is given to you through a lender-consumer relationship.
Summary of Credit-worthiness
You need to know how much you can realistically get from your payment in terms of things like points or interest, and how that compares to your outstanding balance – in terms of available credit (or lack thereof).
You also need to set out how you get things, and how you’re going to use it. How you use your credit ought to be big-time, since it determines how you’ll repay. Obviously the best advice to get from the first one you receive is to use it judiciously.
You also need to ask what the initial benefits of using your credit are. You need to get as much information as possible about how that may work for you. Then compare each offer with your existing plans. And, if possible, check to see which offer is most suitable for you, so you don’t end up costing more. And, of course, if you find any flaws in your offer that are important or useful, then clear them completely.
You also need to find out as much as you can about how that work best, and then combine it with your existing credit-worthiness and rating. This is topical in the way that you must check for all of the other credit obligations that may apply to you.
Lastly, you need to get a good idea of what your credit report actually looks like. If you can get it set up and running right away, this may dramatically improve your credit-worthiness. You could also use this information to try and prove that you are more competent-than-the-credit-file suggests you are really.
If you have a lot of debt, especially credit cards, this could mean that you’re more likely to get caught and maintain a poor or badly managed credit record, or to get yourself or someone else’s house burned up. It’s important to remember that people with bad credit ratings are considered potential criminals, i.e. make loans with very high rates of interest and fail to pay them.
It’s also important to note that when you apply for credit, that the credit rating agencies (Debt-Lenders) will also be checking your credit report.
An Alternative To Debt
You have several hundred dollars in credit card debts that you owe.