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Consolidating Your Debts Now Could Prove to be Timely Move

by noor on November 23, 2009

in Debt Consolidation, News

As the personal loans are stuck on fixed rates, some very attractive and competitive mortgage rates are currently being offered by many lenders. Thus if you have other debts in addition to your mortgage, this could be a good time to consider reviewing your finances.

debt consolidation

It is possible that you may be paying much higher interest on your personal loans. Moreover, if you have any outstanding credit-card balances, this would mean that you may be paying between 15% and 20% interest each year.

Also, due to the recession, credit card providers are much more reluctant to give credit to new customers. This has made switching of credit cards much more difficult. It is not possible now for customers to switch their debt to another card company in order to get a zero interest rate for a while.

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Citi Offers Lower Interest Rates For More Card Usage

by noorNovember 20, 2009 Credit Cards

Citibank has recently introduced a new policy which enables some of their customers to reduce their interest fees, by using their card on a regular basis.

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Banks Putting Squeeze On Credit Cardholders

by noorNovember 12, 2009 Credit Cards

Banks are under pressure and trying very hard to increase profit in the credit card dealings. Interest rates are increasing, credit lines are being cut and additional fees are being made compulsory on even the best cardholders.

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A Second Job Can Help Curtail Debt

by noorAugust 29, 2009 Debt

The first thing everyone tries, when fighting off debt, is to cut off extra expenses and tighten up the budget. But after doing that, fewer choices remain. One of those choices that can improve our lives is to get a second job.

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New Credit Card Law Punishes Responsible People

by noorAugust 24, 2009 Credit Cards

Recently, the congress passed a misguided credit card law, the Credit Card Accountability Responsibility and Disclosure Act of 2009, which makes you pay more on every credit card bill, even if your credit is good, or your credit card balance is low.

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Credit Card Finance Charges

by noorAugust 20, 2009 Credit Cards

Most of the credit card companies make the bulk of their money from finance charges. A finance fee comprises of the extra charges that are added on to your existing balance if it isn’t paid off in full within the grace period, or before the next billing cycle.

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Credit Card Balance Transfers

by noorAugust 18, 2009 Credit Cards

Credit card balance transfers enable a person to pay off his old bills by opening a new credit card. It can be considered as a refinance, as your old credit card balance is paid off, and you start off with a new credit card balance with a new rate and terms.

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Choosing A Balance Transfer Credit Card

by noorAugust 13, 2009 Credit Cards

There are a few important things that should be kept in mind when choosing a balance transfer credit card. The most important aspects are APR, associated fees, and the time period for which the low-APR rate is fixed or offered.

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