Savings plays major role in paying off your debts. Though initially savings look smaller and not enough but on long run it really works. I got a chance to meet a family; they got out of their debt amazingly. I am mentioning here in brief what they told me in brief about their success.

They were having $14,000 consumer debt; almost half of the money they owed was a result of credit card obligations. They made a plan and determined to be debt-free. They made a plan of savings and paying off their bills early. So they used a simple but working technique “save more” and they threw extra money at their debt to pay it down faster. They started to make payments before the billing due date. Read the full story

Credit card debt settlement can be resolved by yourself and its not that difficult too. You can save  your money by negotiating with the creditor yourself and ask for the credit card debt settlement.  Following are some steps you need to go through, to get rid of your credit card debts and the creditors as well.

Prepare yourself before making a call to Creditor

Before calling the creditor for making a debt settlement, you should have everything necessary in front of you. These things are:

• Copy of your most recent bills.
• Creditor’s letters in which settlement is offered.
• A specific amount which you should pay for debt settlement either a sum  of all or monthly payment amount.

Make a call to creditor

One thing you must be aware of is that, if your amount is seriously due for past 4-6 months, then don’t expect friendly behavior from the collection department. Collectors are already well trained for verifying your personal information such as phone number, employment and home address; they also know how to recover their money. Some collectors are well versed in settlement arrangements and some refuse to any settlement arrangement. So you have to make them clear right at the beginning of the call for making a payment or for a debt settlement. Read the full story

While applying a credit card, people go for best deal. Some people think that credit card charging the lowest rate is the best one. While deciding to purchase a credit card, you must consider its lower rate, rebate points, annual fees and mileage points as well. Follow the following given points that will be helpful for you.

Types of Credit Cards

· Unsecured cards are not backed by security and are issued on your creditability.

· Secured cards are issued against a security and the credit limit is usually up to the amount of security.

Credit Cards with additional features

· Rebate cards  gives you the facility of rebate based on your purchases and are usually 3% to total amount of purchase. Rebates are processed at the end of year.

· Point cards facilitates you be offering points which can be used to purchase discounted  merchandise and tickets. These points are processed quarterly and accumulates to next quarter if unused but are voided after certain period.

Read the full story

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.

The charges can vary depending on your balance and the APR of your credit card. Although they may seem small if you’ve got low balance of around a few hundred dollars, they can certainly add up and form a big amount if the unpaid balance is huge.

It is also possible that you won’t be doing much more than paying the interest on your credit card, if you only make the minimum payment each month, while leaving the principal balance untouched.

Read the full story

There are many credit cards available in the market offering different terms and condition and interest rates. If you decide to go for debt consolidation, you may see a variety of credit card companies advertising various balance transfer deals. Some may offer 0% APR for six to 15 months, while others offer a low fixed rate for the life of the loan balance.

But you should be careful as this is the point from where things get somewhat tricky. You need to consider your current debt situation in order to decide which offer will help you save money the most. Let’s take a look at the pros and cons of each type of offer to determine which will work best for you.

Read the full story

There are credit cards available in the market that offer a 0% APR introductory period. Most credit cards offer 0% APR for the first 12 months for purchases and balance transfers, and this can mean some serious savings if you plan ahead. Thus try to go for this type of credit card when you decide to get one.

Advantages of 0% APR Credit Card

A 0% APR credit card allows you to make purchases for the first 12 months by paying only the minimum payment each month. This way you don’t have to worry about paying any interest or finance charges for 12 months.

Read the full story