But only if it is a good deal. How to use a balance transfer. So, I recently learned about balance transfers when I received an offer from my Aviator Red Barclay card. The terms were, 0% APR (annual percentage rate) for 14 months, with a 1% one-time transfer fee or $5 whichever is greater. Normally, I see these deals and throw them out because they are rip offs, usually with a 5% transfer fee and 22% APR. But I noticed that occasionally, a good offer comes through and I should start paying attention. I started calling all my credit card companies to see what this balance transfer is all about. …
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If Your Credit Score Is Below 700, Here Are 5 Things You Should Do…
If your credit score is below 700 here are 5 things to refrain from to get it to where it should be. There are people who believe the whole credit bureau system is a scam. However, the hard truth is your credit score is a reliable source from employers, lenders, housing, and creditors to determine the likelihood that a certain individual will pay what is owed, and on time. To understand how to build credit, first there needs to be an understanding of what hurts your credit. THINGS TO AVOID: Don’t let credit card companies lull you into financial disaster. It’s obvious and not at the same time, credit cards…
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How Credit Cards Can Backfire On You
Ok, in many of these articles there are explanations on how to manipulate your credit score and interest rates to save and make you money. Here is the very slippery downside to this…its called human error. Also known as lust, gluttony, greed, sloth, wrath, envy, and most of all pride. Most credit card debt is accrued from individuals living higher on the hog than they really are. There are different motiviations for this, some listed in the previsous sentence. Credit cards give people access to living high on the hog without neccesarily havin ghte means to do so. Basically what I am saying is, with great credit comes great responsibility.…
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How to Get Lower Interest Rates on Loans
I recently went to go buy a car, and after walking around the lot for a bit, I ended up picking a Toyota highlander which was $15,000. Before I went shopping I told myself that I was not going to buy a car unless I could get a very low interest rate like between 1-3%. When the salesperson and I went in side to haggle over the price, I told him about the interest rate I wanted. He just blew it off and focused on how much of a monthly payment I would have (they always do this) and that the interest rate would be 11%. I told him, “I…
