With a vengeance, today’s most influential individuals and companies gather at their expense and slash through their piles of credit card debt. Or, we choose to go to the nearest gas station and fill our cars up with $300 gas. But are your personal credit card balances high enough to get the annual fee-free? The simple answer is yes, they end up being very expensive indeed.
The only exceptions to the above rule is if the person using you has a reputation for being generous with debt repayment, the cost will be low. However, if the card in question has an outstanding balance (say – $1000 worth of outstanding debt that you don’t owe?), the fees are very high. Furthermore, there is often no access to a credit report required on such borrowers. Therefore, it is a wise choice to ask for these extra benefits first, to make sure you get what you need.
A better way to think about this is to ask for an alternate-market report of your lifestyle (most of which states otherwise) in order to make sure that you are not the only one getting these kinds of fees imposed. This is the only way to guard against them.
The time to consider credit cards as a service
Many times, it is only a good idea to put up a great credit card that gives you the convenience of instant access to all of your credit card functions. This is ideal if you cannot have access to your credit cards in a hurry, because you do not want to have any trouble bringing them to a close. No one likes they are there for long periods of time! Only give them the card to bring to you, so that they can give you useful information and a welcome payment.
Use it only when you have the cards full.
There are few simple rules that we have to remember when it comes to credit cards for a reason. First of all, it is not advisable to put any of these credit card functions in the hands of anyone who already has the credit cards. Not only that, it is not advisable to let these functions be part of the personning of your personal credit card. First of all, be prepared to fork out for them the fee-free installment that is usually part of the introductory rate for a long period. When this introductory rate ends, your personal credit card will be out of the picture. Never pay them any dues until after the monthly payment has ended. The next step is to get rid of these credit card functions in a thoughtful, efficient manner. Now, allow the person to only bring these credit card functions to you personally.
Use a secure credit card
Not everyone can put up a credit card, and credit card services provider’s should do so at their own risk. But this is the only option for most people. This is why it is best to get a clear credit card statement and the like under your name. You will therefore not only have something to look forward to, but also a separate credit card account (although not linked to the card) that cannot be accessed from the credit card provider’s web site.
Credit Cards – Protect Against Credit-Viable Debtors
Credit cards can be a valuable resource when dealing with situations such as today. They can be of great help to those who owe money to their current credit cards. However due to increasing competition and the ever-increasing costs involved, the major credit cards companies have made credit cards the primary means in which consumers are ‘supposed to make payments to their credit cards’ or ‘to make payment payments to their credit cards’. In fact, this is exactly what they want.
An issue that credit card issuers have experienced for quite some time however, is that of sustained payments made by users to their credit cards for several years. The ultimate result is that this consumer is usually able to repay the above mentioned debts successfully without necessarily ever meeting the credit card issuer’s regular interest and other interest rates. This is despite their claims that they do not collect any interest charges on users who default, in the cases where payment is owing and where debtors are not actually paying back the card amounts they have ‘given’ them.
The fact is that credit card debt is rising. As more people will use credit cards or other sources for which they will actually be charged interest, this will mean a drastic reduction in financial options and freedom. For many people, a reduction in their ability to repay their credit card debts is, in fact, in the cards best interests.