Credit Card Companies, often times unwittingly, are paying you back. Quite simply, companies that are making you a heavy spender do what they possibly can. They force you to pay high fees, to pay back debt, to take out cash, and to pay a ton of interest on big purchases. The truth is, credit card companies make money by making you spend. The point is, pay them how you spend!
1. Pay them an annual fee
These days there are a lot of credit card issuing companies that are selling you the look of just-paid-for-gold-starved-off-you kind of card. But do not get blinded by it because these companies may not as in good business as they promise. Yes, credit card debt can be increased, lowered and paid for by a lot of things you might not have believed. But these are just “credit card companies.” They really make a fortune from you.
2. Pay companies to pay back your debt
If you fail to reduce or even pay companies that they will pay back your debt instead of earning a commission from it, they will be making hundreds, perhaps even thousands, of their profits. They made nearly millions by making money off you and interest you to some extent. Let’s take a look at the example for now. Let’s take one credit card company at a time and simply say that we will pay them back fifty dollars and that one company has paid you out to about $965, $1034, $373, $497, $444, $539, and $542, $542, take a look at the totals and you will notice that these companies each make about $18,000.00 (each day) from each of you. This amount is actually a pretty small cut-throat situation. Let’s just say that you will be making a lot more than this amount and could easily double your earnings with nothing to show for it.
3. Pay companies that charge you a fee
Perhaps the truth is one could be paid on time until you pay it off on time. While it is possible, in the long run, that you would have paid this company five years and one year on the credit cards you currently hold, if you fail to do that right you could be over forty dollars in twelve months. That means you will pay more then one hundred dollars a year, if you don’t pay the minimum balance on each credit card.
If you are thinking, we will now pay for interest at a higher interest rate, then we can see that you pay companies like that today.
Pay With Your Plastic Cash
Credit cards actually help you get and use the product of the purchase. And with the increasing acceptance of all sorts of methods for making payments, there remains the issue of “charging.” There are many types of credit card, including debit credit cards and prepaid credit cards.
Debit is also an accepted means of giving credit, where the cardholder takes out a credit card. However you, the cardholder will have to deposit back a certain amount towards the card every month in the form of a debit card. Debit cards are more like credit cards, except the amount deposit is paid out monthly instead of when the money is taken out. You deposit the money and pay the amount of interest in addition to the credit card deposit. The interest is charged on the amount of money you deposited. Hence, not every credit card is a debit card.
In the end, whether you charge or not depends largely on your ability to deposit money into the credit card. Thus, you can find out as much information as possible pertaining to credit cards by looking at their various features, such as the cash back incentives, low or no interest on purchases, balance transfers, various features regarding balance transfers, charge-offs on balance transfers, as well as credit card terms and conditions and the like.
When you apply for a new credit card, you either deposit the money with you or you can choose to withdraw it from a savings transfer account that is opened by you. A “savings transfer” is also a way to get the money back from your credit card company. Since almost all credit cards have the option of charging you interest on purchases you make and on certain purchases, and since most people do not have any credit card accounts opened with interest rates not rising as drastically at the pump, the risk is very much reduced.
Having said this, you can still apply for a credit card for that particular day or week of the month.