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Financial Tip Of The Day
Posted by KPopeCredit Cards
Lower is better: read the fine print and find the Annual Percentage Rate (APR). This is the interest rate the companies charge you if you carry a balance. You want the lowest rate possible; as each percentage point drop will save you money on the months you have an outstanding balance.
Nothing can be better: Try for a credit card that does not charge an annual fee. Many credit cards charge you a fee each year to use their cards. While this may be offset by other benefits the card may offer, you can find cards that do not charge this annual fee. Why pay for the privilege of using a credit card when you don’t have to?
Explore the options: Today’s cards offer a wide range of excellent features, including frequent flier points, programs that bank points toward a new car, and cards that support charitable organizations. Other options worth having include car rental insurance coverage, trip cancellation coverage, and extended warranty coverage.
Financial Tip Of The Day
Posted by KPopeCredit Cards
Negotiate for a lower rate with your credit card company. If you have a good credit history, you are a valuable asset to your credit card company. Call them and seek ways to lower your interest rate. This is often possible, but never advertised. If the interest rate you are currently paying is very high, imply you may cancel the card and go with a competitor unless they adjust your rate downward. It doesn’t hurt to ask, and you may be surprised at the results.
Financial Tip Of The Day
Posted by KPopeCredit Cards
Fixed rates aren’t always fixed! A credit card company can change the rate by informing you 15 days before changing the rate. Look at your statement carefully and call the company right away if you have any questions.
Financial Tip Of The Day
Posted by KPopeCredit Cards
Use a credit card to get 55 days’ interest-free credit by buying at the start of the buy-and-pay cycle and repaying the debt in full by the due date. This option does not apply to cash withdrawals and petrol purchases, on which you pay punitive interest rates from the date of the transaction.
Financial Tip Of The Day
Posted by KPopeCredit Cards
Always pay the full amount “owing” on your credit card. If you do not, you will be charged a punishing rate of interest from the date of purchase. The so-called budget account on your credit card is a misnomer, as you pay a high rate of interest.
Financial Tip Of The Day
Posted by KPopeRetirement Funds
We have shared lots of information this week on retirement funds. The most important thing to remember is:
Start planning your retirement at least three to five years before the date on which you are due to retire, so that you understand all your options and are not rushed into any last-minute decisions. Invest now…benefit LATER!
