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Building Credit Repair
Building credit is more important now than it has ever been. If you have bad credit, it is often hard to get an apartment, a loan for a home, or any form of credit loans at all. Likewise, if you have no credit at all, it is often difficult to get...
SuperCharged Secret 4 - LIVING IN CREDIT CARD UTOPIA!!!!
5 SuperCharged Secrets to Credit Card Utopia! Secret 4 of 5 YOU SCRATCH MY BACK, AND I’LL BUY SOME MORE BEER! Let’s just take a brief moment to recap: If you’ve been following along on this journey with me, learning the 5 Super-Charged secrets...
Top 5 Reasons To Check Your Credit Report Regularly
#1 Make sure mistakes aren't hurting your credit.
Reviewing your credit report can help you avoid costly errors. In one recent study, more than 50% of the credit reports checked contained errors. Other studies have shown similar results with...
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Common Credit Card Terms and What They Mean
When shopping around for a credit card, it is very important to
understand the terms and fees that each card offers in order to
make an informed decision regarding the best credit card for
you. Because these terms affect your overall cost, it is
important to compare the terms and fees of various cards before
opening an account.
Annual Fees
These are the annual membership fees, or participation fees
charged by some card issuers. They can range from $25 up to
several hundred dollars.
Annual Percentage Rate (APR)
The annual percentage rate, or APR is the cost of credit as a
yearly rate. By law, this rate must be disclosed to all
applicants of a credit card. This rate is often variable,
meaning that it can be raised or lowered depending upon the
performance of the index, or econonmic indicator, that it is
linked to.
Balance Transfer
This is the process of transfering an unpaid credit card balance
from one card to another. Often the card receiving the balance
will charge the card holder a balance transfer fee.
Cash Back
Some credit cards offer cash back incentives to the card holder.
These offers usually mean you will receive some percentage of
the total amount charged to the card monthly, quarterly, or
annually. This
percentage may be paid to you by check or may be
reflected on your account as a credit.
Grace Period
This is the period of time offered by some cards that allows the
card holder to pay the balance in full without accruing any
interest charges. If your card does not offer a grace period,
then you may be paying finance charges from the date the card is
used.
Introductory Rate
Credit cards often offer special "introductory rates" to new
card holders. These rates may be as low as 0% for a specified
period of time. After the introductory period ends, the annual
percentage rate will increase to the cards regular ongoing rate.
It is important to know what this rate is as well as how long
the introductory period lasts prior to applying for one of these
cards.
Transaction fees
Some credit cards will charge additional fees for transactions
such as cash advances or balance transfers. Late fees may also
be applied when a payment is received after the due date.
About the author:
Karyn Kudrna is owner of websites that offer information on low interest credit cards
and credit cards for bad
credit and payday
loans
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