Go Back   The Finance Forums > Finance forums > Debt




Debt Discussions about debt and how to deal with debt.

Reply
 
Thread Tools
  #1 (permalink)  
Old 11-13-2009, 04:43 AM
tnmccask tnmccask is offline
The Finance Forums
 
Join Date: Nov 2009
Location: North Carolina
Posts: 23
Default How To Beat Credit Card Companies

There are a lot of "games" that credit card companies play that can really hurt you financially if you are not aware of them. By not knowing their "games", they continue to make money off of you, becoming richer and richer while you become poorer. How do they get you?

♦Interest Rates: the average interest rate right now is 13%. However, interest rates can vary from 0 to 40% annually.
-You can avoid these interest charges by paying off your
balance every month. Most companies have a 20-25 grace
period beyond the billing date.
♦Late Fees: Here's where credit card companies make most of their
revenue. It is nearly 1/3 of their revenue. Don't make them the extra money by making late payments
♦Teaser Offers: Regardless of what the introductory interest rate is, read the fine print. If you are late once, it will go to as high as 20% and even higher the second time your late. (also be careful of transfer fees)
♦Annual Fees: They can range from $0 to $2500. Depending on the card, you can ask for a waive.


Reply With Quote
  #2 (permalink)  
Old 12-15-2009, 06:09 PM
dirtroad dirtroad is offline
The Finance Forums
 
Join Date: Dec 2009
Location: Los Angeles, California U.S.
Posts: 18
Default Re: How To Beat Credit Card Companies

You can always call the individual credit card companies.. and see if any "promotional" offers are going on... that has worked for me in the past
Reply With Quote
  #3 (permalink)  
Old 01-23-2010, 02:21 AM
Kenny Golde Kenny Golde is offline
The Finance Forums
 
Join Date: Oct 2009
Location: California, USA
Posts: 13
Default Re: How To Beat Credit Card Companies

More games that the credit card companies will do.

They will take away the available credit on your account, reducing your total credit line to just more than your balance. This increases your debt-to-available credit ratio, which reduces your credit score, then gives them the right to raise your interest rate.

They will set a time of day that your payment is due on a due date, like 3 p.m., so if you mail your payment in time and it is received on the date due, but after 3 p.m., it is considered late and they will charge a late fee.

They will (those this is being restricted by new laws) change the due date on your bill without pointing it out to you. So if you are used to paying your bill on the 10th each month to have it in on the 15th, they'll change the due date to the 11th, so that it will come in late and you will get hit with a late fee.

Pay attention to your bill and call them on any irregularities.
Reply With Quote
  #4 (permalink)  
Old 02-11-2010, 05:30 PM
NIGEL NIGEL is offline
The Finance Forums
 
Join Date: Feb 2010
Location: LONDON, UK
Posts: 2
Default Re: How To Beat Credit Card Companies

Quote:
Originally Posted by dirtroad View Post
You can always call the individual credit card companies.. and see if any "promotional" offers are going on... that has worked for me in the past

there is always an offer for debtors as you just ask question..... just ask !
Reply With Quote
  #5 (permalink)  
Old 03-03-2010, 01:34 PM
georgees georgees is offline
Junior Member
 
Join Date: Mar 2010
Location: Maryland USA
Posts: 26
Thumbs up Ultimate Guide To Busting Your Credit Card Debt.

Hot Market To Help People With The Credit Card Debt Problems! Thousands Of Searches Every Day. This Is The Only Multimedia Credit Card Debt Product That Includes An EBook, Audio Interview, Transcript And Bonus EBook.
Reply With Quote
Reply

Tags
credit card, credit card companies, credit cards, debt

Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are Off


» Boards




All times are GMT +1. The time now is 10:05 PM.


Powered by vBulletin® Version 3.7.0
Copyright ©2000 - 2010, Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.0.0 ©2007, Crawlability, Inc.