September 9, 2010
Fully understanding a credit card statement can be confusing even for experienced cardholders, especially when reading one from a new card issuer for the first time. Credit card statements contain a lot of information on a single page, and much of it is not adequately labeled or explained. While most people tend to ignore this information, it is always beneficial to review the statement each month to detect identity theft or clerical errors that could negatively affect the credit score.
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August 29, 2010
Balance transfers are perhaps the easiest way to consolidate credit card debt and pay off multiple balances simultaneously. By consolidating the debt to a credit card with a low interest rate, the cardholder can effectively reduce the total amount of debt that needs to be repaid in the long term.
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June 1, 2010
Due to the increasingly competitive nature of the credit card industry, more applicants are being readily accepted by card issuers. As more people are privileged with credit cards, more people fall into credit card debt. This is partially due to the lack of educational material that is presented to new cardholders. It is absolutely crucial to learn how to use a credit card properly before making any charges with it. read more…
April 21, 2010
Balance transfer fees are fees that are charged on a balance transfer offer. This fee is usually charged as a proportion of the balance that is charged.
Balance transfer offers are when a credit card offers a lower interest rate for any money that is transferred from another credit card. This is because credit cards spend a large amount of money marketing their credit cards, and so they will share some of that money with their future consumers and not spend the money on advertising. These balance transfer offers are usually open only to credit card users who do not have an account already with the current credit card account. read more…
November 19, 2009
It is possible for distressed borrowers to negotiate reductions on credit card balances, although it is not always easy. There are some steps that can be taken to negotiate a reduction.
Before starting negotiating with credit card providers, consumers should be clear what the worst outcome can be. Although the consumer may already have a poor credit rating, it may be that the credit rating would be high before asking for a cut in the balance. Credit ratings do suffer when a borrower shows that they are in trouble, even before any arrangement. Balances may also be recalled. Bankruptcy may also be an option for larger debts. read more…
