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Credit Card Truths and Traps
Posted by: | CommentsIf you are struggling with ever-increasing credit card debt, a 0 APR credit card could be the magic wand for you. There are a number of 0 APR credit cards in the marketplace. These 0 Interest credit cards offer cardholders zero percent on new purchases and certain 0 APR credit card offers also allow balance transfers, lowering the interest burden even further.
The Truth About 0 APR Credit Cards
These types of 0 APR credit cards are offered by popular credit card lenders including American Ex press, Citibank, Chase, HSBC, and Discover. These cards have many benefits to offer if you have a good to excellent credit rating.
Keep in mind, that the zero percent offered with these cards is not permanent. It is an introductory rate and is typically offered for ninety days to as long as 12 months. At the end of the interest-free or zero percent periods, cardholders will have to pay a higher ongoing interest rate. Generally, these rates could vary between 10 % – 14% and sometimes can be as high as 24%.
A 0 APR credit card is ideal when you want to purchase something expensive but cannot find another way to finance it. There will be no interest charges for the in and you will have the introductory buffer period to pay off the expense. But buyer beware … make sure you can pay the purchase off before the introductory APR expires.
Most 0 Interest credit cards allow balance transfers from your existing higher interest cards and many will waive the transfer fees. This is one of the best met hods to pay off debts at a faster rate, leading to substantial savings on the interest charges incurred.
It is possible that a single credit card can have multiple APRs including the following:
1) One APR for balance transfers, one for purchases, and one for cash advances ? the APR normally would be higher for cash advances compared to balance transfers and purchases.
2) Tiered APRs ? Different APR levels can be assigned for different account balance levels or tiers, e.g., 15% for balanc es between $1 – $500 and 17% for balances higher than $500, etc.
3) Introductory APR ? 0 APR as the introductory offer and a higher rate upon expiration of the introductory period.
4) Penalty APR ? A penalty APR rate may apply if you are late with your payments.
The Traps to Watch Out For:
A 0 APR credit card is an attractive proposition, and often is too tempting an offer to resist. However, it is essential to be informed about the often-untold catches in these lucrative offers.
1. The 0 APR is a Limited Time Offer ? In general, the 0 APR offered is only for a limited period. The period could vary from 3 months to 12 months. This implies that purchases made during this period will not attract any interest. You need to be cautious about the expiry period and remember to pay off before the period ends inorder to avoid hefty interest charges.
2. Once the introductory period is over, the 0 APR credit card may have a ridiculously high interest rate like 20% or higher.
3. On-Time Payment ? Most of these 0 Interest credit cards require you to pay the minimum payment on time every month during the introductory period. Late payments will result in penalties that include shifting the remaining balance to a much higher APR.
4. Complete Payment ? Certain 0 APR cards require you to pay off the balance entirely before the expiration period of the introductory offer. If not, the default high interest rate could be applied to the entire balance. Ensure that you understan d these credit card terms clearly.
5. Applicability of the 0 APR ? Most of the 0 Interest cards offer the 0 APR on new purchases and balance transfers in the introductory period. However, there are some cards that offer 0 APR on balance transfers only with higher applicable APR’s on new purchases.
6. Other Fees ? Some credit card companies compensate the 0 APR by charging high annual fees or transfer fees on balance transfers.
7. Cap on Balance Transfer ? Certain cards may have a cap o r limit on the balance transfer amount. This means that the 0 APR will apply only for the amount within the cap limit and anything more will be charged the default higher APR.
While it may be an attractive offer to go for 0 APR credit cards, it may not be a wise decision in certain scenarios. So, before you seriously consider a 0 APR credit card, it is essential to compute credit balances, interest rates, and your pay off capability. Read the terms and conditions carefully to avoid credit traps. Un derstanding the fine print could have substantial savings apart from trouble free credit rating.
For more information on what to watch for in 0 APR credit card offers, Robert Alan recommends that you visit CreditCardAssist.com
Top Earning Cities
Posted by: | CommentsAccording to cnnmoney.com these are the cities with the highest median household income
1 Greenwich, CT $112,493
2 Cupertino, CA $110,518
3 San Ramon, CA $109,500
4 Bethesda, MD $109,417
5 Flower Mound, TX $104,921
6 Burke, VA $104,770
7 West Bloomfield Township, MI $102,619
8 Palo Alto, CA $101,584
9 Pleasanton, CA $101,443
10 Yorba Linda, CA $100,465
11 Naperville, IL $99,863
12 Highlands Ranch, CO $97,493
13 Newton, MA $96,376
14 The Woodlands, TX $96,216
15 Lower Merion, PA $96,171
16 Carmel, IN $95,141
17 Milpitas, CA $93,867
18 Fairfield, CT $93,833
19 Newport Beach, CA $93,531
20 Weston, FL $92,748
21 Wayne, NJ $92,654
22 Allen, TX $92,404
23 Sugar Land, TX $92,149
24 Frisco, TX $91,556
25 Clarkstown, NY $91,470
Maximum Cash Back
Posted by: | CommentsPeople with bad credit record face several problems while trying to procure a secured loan. Their bad credit history reflects that they may have arrears, defaults, county court judgements (CCJs) against their name. Some of the lenders will think twice before sanctioning a secured loan to them. Other lenders however do not give too much importance to the credit record. They know that in the case of non-payment, they can sell off the property offered as collateral and get back the amount lost.
Secured loans have many advantages for the borrower as well. For example, the terms and conditions of secured loans are easy. The borrower also has the option to choose low interest rates and longer repayment terms so that the monthly instalments remain low enough.
The disbursement of secured loans is not that fast. This is due to the evaluation of the collateral and the resultant paper work. The borrower however can easily ignore this disadvantage as getting it late is better than not getting it.
A bad credit secured loan should chiefly be utilized for improving the credit record. There is no restriction however on its use. One could use it also for other purposes like meeting holiday expenses, medical expenses, house renovation, vehicle purchase, debt consolidation, and car purchase.
Other types:
Some other types of most favoured secured loans are personal secured loan, secured homeowner loan, secured consolidation loan, low rate secured loan, cheap secured loan, and secured business loan.
Before applying for a secured loan spend some time on the internet and compare the rates of different lenders in UK. If you have doubts about something take advice from online financial experts. They will help you secure the best deal for you. Apply for online secured loans to save time and energy.
uk online market offering cash back
Exercise Can Make You Wealthy
Posted by: | CommentsIn this article, which is the last of a three-part series, we will explore the financial aspect of fitness.
About 80-90% of my adult clients know that exercise is beneficial to the body, but do not want to spend their time “fooling” with it. They feel their day will be more productive and they will be much happier if less time is devoted to exercise. “Why spend an hour of my day doing something I hate?” they ask.
What I spend the next several weeks showing them is just how exercising will result in more productivity by giving them more energy. I show them how exercise will make them healthier, happier and yes, improve their finances… and in less than 30 minutes a day.
My program is based on a full-body routine that uses the butt to stimulate the brain for improved energy, body mechanics, weight loss and productivity. Clients demonstrate and report a new vigor for life.
Because the program is movement efficient, it can be done in a small space and in a short amount of time with little to no equipment.
Combination movements such as lunge with press, squat to row and single leg hip rotations combine strength, flexibility and balance while including a cardio component for improved circulation and endorphin release. These routines can be done in less than 10 minutes depending on your pace and on resistance used.
The routines are ideal for busy entrepreneurs, busy parents and/or stay-at-home parents. Basically, this routine is for anyone who feels overwhelmed and does not have time to exercise.
So, you can see the benefits to your health and how convenient the routine can be…so, how will it help someone financially?
First, this exercise will help you gain confidence because of how you feel, perceive yourself, and ultimately how you look. This, in turn, can help you approach your current occupation differently, i.e. new ideas and changes in daily performance can lead to increased output. This can all mean raises and/or promotions.
Harv Ecker in his book Secrets of the Millionaire Mind (www.millionairemind.com) discusses creating your own circumstances at work. He recommends speaking to your superior and developing a situation in which you can be paid based on your results.
Energy and productivity improvements can help someone in this situation to achieve better results. As you continue to produce good results, then your chances to make more money will obviously improve.
How about if you work for yourself? Then you can appreciate the need for being efficient and productive on a daily basis.
The benefits of creativity and thinking more clearly due to exercise could have profound effects on your bottom line or bottom dollar (pun intended).
Internet marketers are always looking for new and creative ideas and ways to get information across to potential or current clients. Actually, they are usually the first to report lack of time and issues with a big internet butt. Taking 7-10 minutes once or twice a day could have a huge impact on their internet relationships and sales.
If you are more excited and energetic about your work, then wouldn’t you want to learn more about your area of expertise, so you could be that much better? Personally, I tend to want to gather as much information as possible when I am excited about a topic or area of interest.
Learning more information and thus, becoming more of an expert on a particular topic can only improve the possibility of being more successful in that given area.
Robert Allen and Mark Victor Hansen in their book One Minute Millionaire, (www.oneminutemillionaire.com) talk about doing something you love or are passionate about and by doing so you will figure out ways to make money doing it.
Alex Mandossian, (www.teleseminarsecrets.com) continually instructs his students to ask themselves and those around them “What am I good at?” In other words, do what you are good at and passionate about.
Exercise can help you become more passionate and excited about learning by improving that energy and productivity.
I am always stressing to clients how they need to change their “script” when it comes to fitness and exercise. I tell them if they change beliefs they can change their appearance. Harv Ecker would call it changing their roots to get better fruit.
Exercise is improving this “inner you” way before it changes the “outer you.” The biggest benefit to my exercise program is changing the way you feel both mentally and physically. This can have a dramatic effect on whatever results you are looking for in life… mentally, physically and/or financially.
How many times have we seen the changes in a co-worker who has become more fit? He/she gets comments, attention, and more than likely a raise or promotion. Why?
The first answer would be because that individual has come out of his/her shell, looks and feels better, and now the boss has seen the change and decides to reward it.
If we are honest about it though, we will see that this “achiever” changed his/her “inner self.” That person now has more energy, confidence, creativity, gets more done each day and ultimately, deserves to be rewarded.
Reward yourself… mentally, physically and financially.
Begin an exercise program. It may be as simple as 7-10 full-body exercises once to twice a day, a 15-minute walk during your low energy point of the day or a routine you do every day that gives you the confidence you deserve.
Start today! Your mind, body and bank account will thank you.
“If you’re proactive, you don’t have to wait for circumstances or other people to create perspective expanding experiences. You can consciously create your own.” -Stephen Covey
Copyright 2006 John Perry
About The Author
John B. Perry, P.T., C.S.C.S. is a fitness and biomechanics enhancement expert. He has a fitness newsletter website, writes e-books and articles, produces fitness videos and performs seminars and teleseminars on Health, Wealth and Fitness.
Want to learn how to improve your finances by adding exercise to your daily routine?
Go to http://www.hiptobefit.com
No Annual Fee Credit Card
Posted by: | CommentsMost new credit cards come with a no annual fee offer. This hasn’t always been the case. I wonder if issuers realized how much people resented the yearly fee they were charging just to use their credit card?
Now that they gradually eliminated the annual fees, they’ve advanced the ‘no annual fee credit card’ into a marketing incentive. But that doesn’t mean there are no fees at all. That is why you need to read the entire offer before signing for a new credit card.
If you don’t pay the entire balance each month, you must pay a service charge on the unpaid balance. Then if you go over your credit card limit, you must pay an additional fee, perhaps in the $35 range. In addition, if you’re late making any payment, not only are you charged a service charge and maybe an over-limit charge, you’re assessed a late fee as well. These added fees more than make up for the annual fee that has been discontinued for most cards.
When applying for a new credit card, it’s imperative that you plan on and handle your spending and bill paying responsibly. In addition to the added fees, missteps with a credit card can cost you dearly in other ways as well. It can be reflected on your credit report which in turn effects many aspects of your life from a job application, home loan, purchase of a new car, to the interest rate you’re charged on new credit purchases. An unfavorable mark on your credit report can even have an effect when applying for insurance.
No annual fee credit cards are offered by most banks and financial institutions. Once you’ve found a credit card offer that doesn’t charge a yearly fee, you can then look at the additional features of each offer.
No interest for an introductory time can enable you to consolidate debts interest free. Rewards programs for many credit cards include cash back, air miles, and numerous goodies too many to mention. Whatever your current financial situation or outlook, there’s a credit card offer that will fit your needs.
About The Author
Bradley Carson is an internet marketer and is owner of Apply Online For A Credit Card at http://www.cards-king.com.
Setting up a Home Career
Posted by: | CommentsMoving into a home based career can be both a challenging and rewarding experience. There are a few items worth covering on this subject, and a few things you need to prepare for when setting up your home career.
Before you even begin to draft your business plan, make sure your desired career can in fact operate from your home! Be sure to check your existing zoning laws to see if your home based business is acceptable.
The biggest advantage to having a home based career is the obvious transportation savings and the close proximity to your family. However when setting up your operation, there are a number of other costs that you should allow for. If you are going to maintain a full career from your home then you will need essential office space and supplies. You need to make sure you can actually run your business from your home; do you have a spare bedroom or finished basement where an office can be constructed? You will also need basic office equipment such as a computer with Internet connection, phone, fax lines, a desk and file cabinet.
Also, keep in mind when setting up a home based career, whatever you are selling, you are in a residential setting. Is this helpful or a hindrance for your business?
There are many more things to consider when setting up your home career; though remember as with any type of business, the success or failure of your home career largely depends on your diligence and effort.