Have you ever wondered how to find the one good credit card on the net and pick which one is which? Well, today we’re going to look at making some smart decisions about your credit card expenses.
1.) Whether you choose a credit card or not.
Using a credit card is a way of life for most of us. We’ve come to know that we can always cash back on purchases when there are credit cards. This is an amazing financial benefit because credit cards allow us to save even one dollar each time we pay with a credit card.
2.) Some credit card companies will let you borrow money at a certain interest rate. This interest rate is not interest that will accrue any other interest dollar for dollar. If you’re paying higher interest at credit card companies than with banks then you don’t really need a credit card.
Unfortunately, if you don’t pay off your credit card debt at the end of each month then you will end up paying an astronomical sum in interest charges. And not to mention, the amount of money you put on your credit card is usually not that much either.
Why pay that hefty balance when you can spend it on a more effective way of using your credit card?
3.) Isn’t Paying Off Payday! Quick and Easy?
This is not a lie. On average you spend about 60-65 days on your credit card than paying off the amount owed on that credit card would cost you about 4.5%-5.6$.
I usually pay off my bill at least every 3 months to make sure no interest is added.Some credit card companies will give you 0% for a year. This is especially true with the new Visa credit cards. During this time, your balance on one card stays the same and each time you make a payment on another credit card that amount is deducted out of your original balance.One last fact…you don’t necessarily want to pay off those credit cards every 3 months.But I’ve seen more than one credit card companies that are giving you 5% before the 3% cash back rate!Anywho, this is it! You pay off the same amount of money each time you call the credit card companies and ask them to make you pay a higher rate of interest. It’s only too happy.
Compare Credit Card Rates
Credit card issuers love to pitch their offer as being similar to the other credit cards. Their credit card companies, when searching for higher interest credit cards, usually offer different credit features based upon your credit score.
Types of Recent Credit Card Approvals
These are those issuers that are usually asking for one of a few different types of recent credit card approvals.
In general, credit cards companies that offer the most recent credit card approvals will offer the most perks on the credit cards they want to offer. Some of these are related to the higher interest you’re interested in, some are geared to your interests, some are designed to help you save money.
The types of recent credit card approvals vary from one company to another. In most cases, the higher interest you’re interested in the lower cost of the credit cards you’ll end up with. If you have any doubts on what your current or previous credits card approval looks like, ask your credit card company if it will help you. You can ask for the approval percentage (APR), or the percentage of overall credit debt you have.
Other Options Loans
Some credit card issuers offer to give you loans that, in the future, you may have to pay to pay for the purchases you do make with the credit cards. For example, if you have paid off a portion of your previous credit card debt at an interest rate of only 10%, you may qualify for a loan at a lower rate and on a shorter time.
But for these people, it may just be a loan that doesn’t have the necessary lower interest payments. Instead, most credit card companies will have you use a particular credit card that they can get a hold of if circumstances require it. You can ask them whether you can pay off your entire credit card debt quicker.
Other Options Purchases
In some cases, credit card companies offer you other types of purchases when you use the credit card. Usually these are credit cards that give you another type of credit approval when you use the credit card. For example, if you purchased a whole lot of groceries with your credit card, you may no longer qualify for a loan either.