Low interest credit cards are something everyone who has credit, wants to have! The ability to pay off your credit card debt sooner, increases with each drop in the interest rate of your card.
Reality of the situation is, a low interest card is worthwhile? Why wouldnt you jump at one? You may have been told that they will cost you more down the track? I'll show you a little more about them, that you might have never known.
I was recently employed in one of Australia's top banks credit division, and have worked in personal finance for more than 8 years. My tips and insider secrets could save you alot of money! 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 see advertised, the 0% credit cards that target students, or first time card holders.
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 around a year, credit card users are not so worried about swiping the card and racking up debts that the banks and card providers l;ove…
This is, of course not such a good deal for you, and after the year honeymoon has gone, you may be tied into a larger than market 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'll also tell you which ones are the worst offenders 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…particularly when your banking day to day is done with your card provider, as is often the case! 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.
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