Posted on 02 August 2009
Tags: 0% APR, 0% APR credit card, APR, card issuer, credit card, Credit Card APR, credit card companies, credit card holders, credit counseling, critical terms, Fine Print of agreement, initial interest rate, interest rate, Late fees, less-common charges, national nonprofit debt counseling service, Overdraft charges, Payment allocation, the National Foundation for Credit Counseling, unexpected charges, universal default policies, Variable-rate information
This often happens that credit card holders get surprised when they get socked with some fees that they have never expected, or it mostly happens when first statement comes than the card holders find that their interest rate isn’t what they have expected.
Late fees. Overdraft charges. Unannounced increases in rates and it seems that there is no cause behind that increase. Old debts mysteriously emerging on new credit cards.
Whether you like it or not, these surprises that you get from credit card companies are usually completely legal as the card issuer in advance have warned that they had the right to do so.
So here the question that arises for card holders is, how can I avoid all this and protect myself from unexpected charges, rate increases and the like?
The answer to this question is the same that you’ve undoubtedly heard before — read the fine print!
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Posted on 15 June 2009
Tags: 0% APR, 0% APR credit card, accepting credit cards, Balance Transfer, Banks, credit card, Credit Card Interest, interest charges, Interest rates, merchants, minimum payment on credit cards, money, transactions
There are chances that you might have a credit card, and on daily basis you are using it for all types of transactions. Nowadays, merchants are accepting credit cards more then a dollar for purchases and for smaller transactions they don’t even ask you to sign the receipt on.
Interest Payment Each Month
However each month you must have to pay interest charges no matter how much you have used your credit card. If there is a balance each month on your credit card then the credit card company will charge a finance charges from you, these finance charges can range from 5-25% and if you have a poor credit then these charges could be even higher what is mentioned above.
Month after month many consumers continue to pay finance charges simultaneously they also pay the minimum payment on their credit cards, doing this they paralyze themselves in the credit card trap.
