According to the magazine Parade of most Americans at least four credit cards. And, of course, we use our cards. . .
With too? Because credit card in America reached a record level of nearly 1 billion U.S. dollars, after the Federal Reserve Board. As you and I, the average American household credit card debt in 2007 amounted to 9840 U.S. dollars.
The increasing use of credit cards is the convenience, because they help us pay for a sharp rise in gas at the pump, higher prices grocers, were killed and the astronomical medical costs. This is not the case for credit cards, since these bills be paid? Naturally, we spend beyond our means.
Nevertheless, there is an additional price we pay when we use credit cards: excessive costs, out of control interest rates and an ongoing review of the arrangements for a credit card without warning.
Credit card companies, according to Parade magazine, asked that those who pay their bills every month are called "Deadbeat" because it is not too much to do with them. For the rest of us, those who balances from month to month, we are more endeared by credit card companies, because we are socked with a penalty fee.
Here are five warnings must be taken into account credit card company practices:
First, your rates are subject to change without notice. If you fall behind in your payment to a creditor by a month, your monthly interest rate can go sky high. It may even be that this increase was based on the prices and rules, but you have not read the fine print. This is not surprising shift from the low level of less than ten percentage points to 29 percent, because you came too late for a month. I suggest you take your phone with your bank, remind them how much you are a customer of and demand they make your blood back to its original height. Let it does not work all the time, but it's worth a try.
Secondly, your date will be May switched without warning. May you be notified by e-mail, or are you doing May. Often, credit card companies would send the bill for one week before the due date, almost a certainty for the payment will be delayed if you pay in person. Do not your credit card or bank and ask them to your card or later, a decline of 50%.
Another sign carefully when you suddenly labeled with the additional fees and fines. Credit cards are required, creates additional costs for all types of services - balance transfers, pay-phone and speak with a representative of the bank by telephone. Look through the month, and if you see questionable expenses, to invest the time to call the bank and ask him to remove them.
The fourth problem occurs when you have a false pace of implementation. Your e-mail address is probably filled with offers from credit card companies to develop, with unattractive interest rates to 3% 2% 0%. Read the fine print on these ads. May really enjoy this low six months, but then your bid in May jumped to 29%. If you have the balance at a low level, you pay 0% in May, however, if this account for future purchases, you'll pay much more.
Finally, it is never only the minimum payment, but always pay more if you can. Credit card companies love customers who pay $ 10 per month. You know that your capital is not very much lower, and it is likely that you will pay more in the same store.