Tuesday, September 14, 2010

Credit Card and Debt Tips !

1. Know about your credit cards. When you get the bill, look it over until you find the APR (annual percentage rate), which is the interest rate. Credit cards sometimes list other percentages and fees, but the APR is what will get you in the end. List your cards from highest to lowest APR. For instance, put that 27% interest card first, and the 0% cards last.
2. Work from the top down. Pay as much extra as possible on that top card each month. Make minimum payments on the others. When that highest card is paid off, start the process with the next card on the list. Carry out this procedure until all the cards are paid off.
3. Round up. For speeding up the time it takes to pay off your mortgage, simply add a few dollars each month. Those dollars are applying to the principal, and even a few dollars a month can trim years off your debt. One idea is to round the amount up to the nearest ten.
4. Emergencies? Experts disagree about the wisdom of keeping one low interest card on hand for emergencies. Frankly I think it makes some sense,  The bottom line is how you define an “emergency.” If it’s seeing a great deal on something you’ve been wanting, like a new guitar, maybe, but you don’t have enough money to cover it right now . . . well, that’s not really an emergency!
5. Keep it empty. If you do keep one card on hand for convenience or whatever, the best policy is to always pay it completely every month. Otherwise you are actually living beyond your means..

Hopefully most of you know these already !

42 comments:

  1. good tips. wish i could have followed some when i first got my cards. lol. I wanted to have one in case of emergencies. mostly in case my car broke down for whatever reason. but ended up being stupid about it. lol.

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  2. hey,im supportin' you daily,pls do aswell:D

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  3. Thanks for the kind comments on my blog :)

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  4. thx for u're support ..

    hear is my daily love XD

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  5. I've been thinking of getting a credit card. This helped!

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  6. This post has piqued my interests

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  7. Good tips on here. I think they'll be helpful to me. Supportin'.

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  8. no idea how to turn off comment verification >_>

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  9. These tips got me out of debt!

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  10. I spent all of my money on Hanwei Practical Elite Katanas and These tips got me out of debt!

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  11. its 3 days after 9/11, eh mate?

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  12. I hate credit cards, soo much debt. >_<

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  13. Nice, I´m already doing this. Now I know that I make everything right :D

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  14. Thanks for the tips! Keep them coming :D

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  15. Luckily I dont have any credit cards, only a debit. Not cause I dont want one though,just,no bank gives me one. Feels bad man.

    Much love and support bro!

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  16. Hmm sounds interesting.. I don't know if i'd want to use a credit card for anything other than secure stuff though ;p

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  17. avoid credit, = avoid debt. simples.. i have no thing on credit - no debt!

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  18. ...huh. I wonder where yesterday's comment I made went...



    New Review...
    superherobobblehead.blogspot.com

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  19. I avoid all cards like the plague

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  20. I dont use one... its all either cash or debit.

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  21. your posts keep getting better and better!

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  22. Nice tips, i'll keep this in mind

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  23. Great advice; I'll keep it in mind.

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  24. good job, your blog has a strong following

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  25. I still haven't gotten a single credit card to my hand, these tips will come in handy.

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  26. I plan on getting a credit card soon and these are some awesome tips, thank you!

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  27. these tips are so common since to me but i guess other people have lots of problems managing their money and stuff. hell i don't even have a credit card. : ) i hate owing money to people and especially banks.

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  28. One way to get out of debt is to do it yourself. The best get out of debt tips is planning and discipline. The first step to relieving debt is to find out where you are. The important get out of debt tips are patience and diligence. Visit this site for more details, http://debtsolutionguide.com.

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