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Credit Card Interest Worries?
By plrprousers | April 1, 2009
Low interest credit cards are something everyone who has credit, wants to have! The amount you can save each month increases alot for every portion of a percent that you shave off your interest rate.
Reality is, is a low interest credit card worth it? Why would you not grab one with both hands? You may have been told they cost more in the long run? I'll show you a little more about them, that you might have never known.
I recently held a job in one of Australias top banks, in the credit card divisions, not to mention I have worked for over 8 years in personal finance. My tricks and secrets, wil save your hard earned cash! It certainly has benefitted my friends and me.
Some credit card offers tempt you with deals of low or even zero percent rates of interest, that seem like a awesome offer. As an example, you might have seen the zero percent deals for say, 12 months, that often target low income earners.
Why would they do this? Well, card providers earn the least in interest in the first year you have your card, because they know from years of statistics that card holders spend less in the first 12 months…
After a year has passed, card users are not as afraid to swipe credit cards and rack up debt, which in turn generates big interest bills for the provider…
Ideally, this is not the best situation for you, because after the low rate period is up, you might be tied down to a bigger than normal rate!
Another thing to be aware of, is that when you go over your limit on a low rate card, you can expect much higher fees and penalties than on a normal credit card. I can tell you which ones are the worst too!
While this is not the only thing to be wary of, as your bank or card providers know much more than you might think, about your spending and borrowing habits…especially when your banking is done with your card provider! Above is only a sample of my favourite credit card saving info, for my best secrets and tips, you need to visit my full article here -> low interest credit cards.
Tags:bank,borrow,cr card,credit,credit card,credit cards,interest,loan,mortgage,overdraft,personal financeRelated posts
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