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Home > > Chase 12 month interest free

Chase 12 month interest free

When you make an investment – from a simple Balance transfer credit cards bank certificate of deposit to a large shopping mall – you are going to be buying from someone whose greatest skill is employing sales closing techniques.

Their skill in closing a sale will not include safeguarding your money or earning Balance transfer credit cards you any profit. And their number one priority is to make their sales quota to keep their job. It is only your personal education, experience and due diligence that can protect your money from the numerous people on the other side of the table.It is a dilemma that in order to invest, you’ll be face to face with professionals who do not have your financial interest at stake – but they will all appear to be. Sales people will appear to be on your side right up until the moment you write a check or sign a commitment. Then any problems are yours alone, their verbal promises go up in smoke, they stop returning your phone calls and the fine print suddenly negates the possibility of getting a single dime back from your investment. In my experience, a salesperson’s top priority is never your best financial interest, and you need to realize this no matter how friendly they are or how polished their sales pitch appears. As you walk into a bank or brokerage office, or call a broker, you need to keep in mind that their personal goal is not in alignment with yours. To see past their sales routine, you need specific education, experience with the industry, and, hopefully, a knowledgeable mentor.For example, I once received a solicitation from a loan broker who wanted to get me into a triple-net lease commercial building with a million-dollar loan. After a few questions it was clear that he was acquainted with lending, but not very experienced. But continued questioning revealed that his knowledge of commercial real estate would barely fill a thimble. And he was the principal agent trying to slam me into a million-dollar loan so he could collect a commission check and move on to the next deal. Although he sounded quite confident on the phone, his responses destroyed my trust in his ability to maneuver through the numerous issues and problems in my best interest. By studying an industry and talking to experienced players, you’ll be better able to ask questions with impact. And in this case, it was the chase 12 month interest free difference between me keeping my money or locking myself into a contract guaranteed to be a huge financial disaster.To inoculate yourself against sales pitches, you need to do a lot of comparison shopping or at least become a semi-professional in the industry you want to invest in. Develop a healthy amount of suspicion and skepticism of any sales claim, and hire experienced professionals to assist you on your side of the table. These would be attorneys, accountants, financial and operational experts that are being paid directly from you to assess every aspect of a complex transaction. He or she will support you in areas that you may be weak, and ask all of the confrontational questions that need to be addressed before you sign anything.Due diligence 12 chase month interest free acts as a barrier between your money and all the people that want some of it. I personally want Fort Knox around my money, so I make the effort to educate myself as to what is going on in the areas that I want to invest in. I take some facts that are offered to me and verify them independently, and then I get more facts and continue the process until I feel comfortable enough with the people I am dealing with. If I depend upon the sales people to perform due diligence for me, it is no better than throwing money into the wind and hoping for the best.2

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The time to start investing is when you are young. If you have a college degree and you start investing immediately after you graduate and get your first job, it is possible to retire as a millionaire. Find an employer that will match your 401K contribution.

You’re young, you just landed a new job and you’re going to be getting a decent paycheck. You also have bills to pay and there are also a few items that you’ve always wanted so now you can finally afford them.

Investing for your retirement may be the last thing on your mind at the start of a new career. Take some advice from those with a little more experience: Start investing early in your career. Start from day one and you will never miss that money you’re setting aside. If your company has available a 401-K or a TSP program, jump on the band wagon immediately. If you don’t have these programs at your disposal, you can still start an IRA and the concepts stated here are applicable as well.

It really does it make a difference when you start contributing. It is important to invest in your retirement account early in your career for two reasons. First, if you’re fortunate to receive matching contributions, you don't want to miss out on those added contributions that are a significant part of your retirement benefit. Second, the longer contributions stay in your account, the more you stand to gain. Your money makes money in the form of earnings, and those earnings in turn make money, and so on. This is what is known as the "miracle of compounding." As money grows in your account over time, the proportion resulting from earnings will become larger compared to the proportion resulting from contributions.

The size of your account balance is going to depend on how much you (and your company if they match funds up to a certain percentage) contribute to your account and how your account grows as a result of earnings on your investments. To get an idea of what your retirement account could be in the future, look at the following projections.

Assume that you are an employee eligible for organizational contributions, that you are earning $28,000 each year, and that you receive no future salary increases. You choose to save 5 percent of basic pay each pay period; therefore you receive total organizational contributions of 5 percent. The growth projections below are for an assumed annual rate of return of 7 percent on your investments.

After five years your account balance would be almost $17,000; after ten years your balance would increase to $40,000; and after contributing for twenty years, your account would have a balance of $122,000. Clearly your balance would continue to increase each year. If you contributed for forty years, which is fathomable if you start a job at 23 and want to retire at age 63, your account balance would be $615,000. That’s over half a million dollars folks! Just from contributing 5% of your income from the day you start work!

Looking at the numbers, it’s hard to imagine why someone wouldn’t start investing immediately!

When people look for a credit card option to help them through Christmas or a holiday, over half the time they just take the first credit card deal thrown their way. Some people get an application in the mail and fill it in without even checking the details, only to be amazed when they get their card to find it has a tiny spending limit, or it’s secured and requires money to be deposited, or it has an interest rate in six months time that hits 20%.

But it doesn’t have to be that way. Some of the best credit card deals are right under your nose – you just don’t know it yet.

Some credit card companies offer ‘honeymoon rates’ that give you six months of a year of interest free, or low-interest, purchasing These can be 0% APR to 4% APR, which looks like a great deal, but the devil can be in the details. MBNA, for example, will give you six months of no-interest spending, but whenever you withdraw money from an ATM, they’ll hit you up for $7 in fees, and apply 19% interest to that withdrawal. When you get your statement and wonder where this interest came from, you’ll find the fine print says your 0% credit card deal only applies to over the counter purchases – writing checks on your card (with those ‘convenient’ check books they send you) will see you paying 19% interest AND $10 per check in fees. And if you think that’s a scam, it gets worse.

MBNA will call you up a few months into your credit card account and offer you ‘credit card insurance’ – a deal where, should you get sick and not be able to pay your monthly payment, they’ll cover it for you for a while. That sounds like a good deal, especially when they say “it only costs 75c” – what they avoid letting you know is that it’s 75c PER DAY, and that you’ll soon be seeing $50 per month coming off your credit card balance to cover it. And if that puts you over your limit – then they’ll charge you ANOTHER fee – a late payment fee – of $25. Not much of a credit card deal, eh?

Of course, MBNA is not known for being charitable. In fact, they recently pushed the White House to put through a new bankruptcy bill that says, if you get cancer and can’t pay your credit card bills, they can now take your home in lieu of payment. Yikes! Your government working for you…

That said, there are some very good credit card deals out there. Look out for any deal that offers you a free 0% balance transfer. What this credit card deal allows you to do is move the $5000 you owe MBNA to another company, at 0% interest, so you can shut that awful MBNA card down and not be extorted any more. Of course, the new card will likely switch that debt to a heavy interest rate within six to twelve months, so make sure to look at the fine print, but in the meantime you can save yourself hundreds of dollars, and when the new interest rate kicks in – just get another card to do it all over again!

While that seems like a never-ending credit card deal of 0% - just switching from card company to card company – do understand that the credit card organizations don’t like you doing that. In fact, after a few transfers they’ll start to show your pattern on your credit report, and that will make you less of an attractive borrower in future. It’s fine to do this a couple of times, but do it forever and they’ll hit you with the credit score black mark.

Additionally, getting another card only works if you CANCEL your other card as soon as the balance is zero. Keeping it open ‘just in case’ will inevitably lead to you racking up a SECOND credit card debt, and that’s no deal at all.

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