Frugality Million Rupiah With 0% Interest Credit Cards

Diposting oleh pak yons on Rabu, 07 November 2012

Low interest credit cards are available as an alternative for those who were to suffer the burden of high interest rates. If you have a credit card with a high interest rate anywhere from 24% - 36% or higher, then you may not be aware that it will cost hundreds of thousands to millions in interest charges alone. Once you understand your credit and how it affects your debt situation, you will see how low interest or even a credit card with 0% interest could be a much better solution.

Gather Your Financial Statements
Collect billing statements for all credit cards and high interest rates low. Including Visa, MasterCard, American Express, JCB and any other revolving accounts. For each bill. Make a note of the total balance, minimum payment amount and interest rate. You may also want to include an estimate of your monthly payments (if more or less than the minimum) and the monthly finance charge.

Compare Cards
If you compare the numbers for each card, you will be able to see where you are at a high cost burden. The higher the interest rate and the higher the total payment, the more you pay in interest over the long term. And if you only pay a small amount or just pay the minimum payment amount, then you can continue to pay for more than 20 years. Now you can see the benefits of having a low interest credit card.

Categorize Your Debt
Once you know which ones are the low interest credit cards and higher, you need to categorize them from highest to lowest. Then reorder them, if necessary, based on the estimated amount of interest you will pay during the year. This step will help you to focus on the cards that take up most of the money income.

Negotiate With Your Bank
Before cutting the plastic cards plastic or put it into the paper cutter, call your credit card company at this time. Many consumers do not realize it but companies would rather lower your interest rate than lose your business. Tell them that you have been offered a better deal on a low interest credit card. They may match that offer, saving time and effort to close and open a new card.

Finding Information Around For Credit Card Offers 0% Interest.
Some banks will not budge. You may have to do some searching of information to get a low interest credit card. Check online, talk to a local bank and sort through them. Ask friends, family, co-workers and other acquaintances to learn about credit cards they use.

Thoroughly read the Terms and Policies.
Many credit cards offer looks too good to be real, 0% interest, low interest rate for life, insurance benefits, frequent fly, etc.. Often we see such offers. 0% interest is applicable only for a limited amount or during a certain period. Fixed rates could rise significantly if late making a payment and so on. Taking into account all the requirements and policies, be sure to read carefully the terms and policies. Do not accept a low interest credit card until you are sure to understand all that is involved.

Still Keeping Good Credit History
Now you can stop wasting money in vain. Appreciate a low interest credit card with 0% interest and maintain your good credit rating. Pay more than the minimum and not late making a payment. As quickly as you are able to lower the interest rate loan, you will receive tremendous profits.

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