| A new "Urgent Credit Help" service is available now. Our advisers are ready to answer all of your questions. |
|
|
Credit Cards eZine
Acclaimsecuredcards.com presents the Information Center – a new and improved credit card news service. We will inform you with up-to-date articles on credit cards for good credit, bad or no-credit history. Get information on best credit card deals for student credit cards, cash back credit cards and business credit cards. Learn about the top deals on credit cards with the lowest APR deals and other hot issues.
Credit Cards News• Click here to view all News... • Click here to view Credit Card News Archive... |
|
The Truth about Low Rate Credit Card Applications
Probably, many of you have received credit card applications for low interest credit cards in the mail. From the first sight these credit cards may seem to be great and many credit card users are ready to jump on these plastics right away.
Don't hurry up! Take your time and find out several things before you decide that low interest rate credit cards are right for you. Remember that depending on the credit card company and on the type of charge even the phrase "low interest rate" can have different meanings.
Whenever you get application for this or that credit card deal in the mail, you have to read the fine print before agreeing to become a credit card owner. It is obvious that credit card companies do their best to attract you and can promise you low interest rate, but you have to know that it will not last forever! Usually the nice terms and conditions only last from 6 to 12 months, which is an average introductory period.
Of course lowest APR credit cards can be helpful. If you want to make a big purchase or to transfer your debt, low rate plastics can be extremely beneficial. You can take full advantage of the low interest rates by paying of your balance in full before the end of the introductory period.
You also have to find out to what types of transactions low interest rate applies to. You can pay 8% interest on purchase and 20% on balance transfers.
It is important to check your credit card company's policy on universal default. Universal default means that your credit card company can raise your interest rate in case you are late with your payments. And I am not talking only about credit card payments! Your rate can be affected even if you are late with your car or utility payment. It is wise to avoid universal default, that's why if your credit card company participates in it, you should look for another credit card application.
Then you should check if your credit card offers the grace period - the time you have between making purchases and having them start to accrue interest. The average length of a grace period is about 22 days, but unfortunately some credit cards don't offer it anymore. So you should take your time and find the best credit card that does.
Very often credit card companies offer credit cards that look great, but you have to find out all the details in order not to be disappointed in credit card that you have chosen. Remember that credit card companies make money on your mistakes, so as a wise credit card user, you should take into consideration all pros and cons before signing up for the credit card. Remember that credit cards can make you or break you.
Comments• News Comments... |
|
Post Your Comments• If you have something to say, please leave your comments below. |
|
The Latest Articles |
|
Your Credit Limit[12:00:00 AM Tuesday, July 29, 2008]
Lots of credit cardholders are increasingly getting another hit by major card companies, the reason being the necessity to make huge write downs to cover credit card and mortgage losses. This time, consumers are not experiencing a hike in the interest rates - that's a closed chapter already. It is the limit on their credit card that is being reduced, making the already tight credit less available.
Banks and credit companies are occupied with keeping default rates at their lowest so as to maintain their profits at a decent level. Thus, they've become choosier as to what limit amount each of their customers actually may qualify for. Keeping more money in house is now the key strategy of most major issuers. So, watch out and see how you could avoid being affected.
Closing Credit Cards[12:00:00 AM Tuesday, July 22, 2008]
If you are regular user of credit cards, you are likely to strive to good credit history. Every consumer wants to pay lower interest rates, receive lavish rewards, have no problem in getting a mortgage or auto loan. What is more, some employers practice credit score check before accepting another employee. Sometimes it seems like people with good credit have more opportunities than all other consumers.
Improve Fair Credit[12:00:00 AM Tuesday, July 15, 2008]
Fair credit is not a rare thing. However, more than half of consumers with fair payment history find it difficult to pick up a beneficial credit card deal. The reason for it is in the average status of fair credit: the consumer cannot qualify for good credit cards because he is not considered reliable, while bad credit cards have too low credit limits and too high interest rates. Another pitfall of fair credit score is that a denial or a late payment can make your credit bad again! That makes you feel on the edge with a fair credit.
Delinquent Credit Bills[12:00:00 AM Tuesday, July 08, 2008]
The year of 2008 has been entered by millions of consumers with huge outstanding debts. In spite of the Fed taking great pains to introduce stricter laws to regulate credit card industry, people accumulate debts, due to their own irresponsibility or inadequate disclosures for bank credit card offers. The unprecedented growth of interest rates and unfair credit practices make it more difficult for card holders to eliminate balances carried since 2007.
