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Home > > Apply for low interest credit card

Apply for low interest credit card

Having a credit card or three can be a thrilling adventure: all of the sudden you have more credit low apply interest for card cash available and can buy things that you otherwise couldn't afford.

You understand that you need to pay your bills on time, pay the minimum payment every month, and that you can obtain cash advances. Yet, do you know what risks are involved in minimum payments and cash advances? Educate yourself to avoid the most easily misunderstood credit card traps:Paying the Minimum Monthly Payment on Credit CardsThe minimum monthly payment is a very small amount that your credit card company requires you to pay each month to keep your balance in good standing. It seems like a dream. You owe $1,200 and only need to pay $50 this month. Unfortunately, this dream has a harsh reality to it. The less you pay, the higher your interest and the faster you balance climbs, whether you are credit interest low for apply card making new purchases or not.If you pay only the minimum due, even on a small amount, it may take years to pay off apply for low interest credit card the debt. What you will really be paying is interest, and lots of it. The smartest way to avoid this trap is to pay as much as you can each month, or only spend what you can afford to pay in full. It might seem like a dream to pay such a small amount, but in the end in can turn into a nightmare in interest and debt.On the flip side, if you miss a payment or pay less than the minimum, you will be charged a late fee on top of current interest charges and will likely get a negative mark on your credit report. It is imperative that you at least pay the minimum, no matter what your financial status.Credit Card Cash AdvancesCash advances seem easy enough: go to the nearest ATM and withdraw whatever amount of cash you need. What you may not know is that most cards charge a special fee on a cash advance, the interest rate is usually higher than on normal purchases, and you pay interest every day until you pay the advance, without a grace period.Be sure to check the details on the credit card contract to find out what fees you will pay for this easy transaction. The best policy is to only use advances for emergencies. If you get in the habit of withdrawing money from you credit card, you could see your balance skyrocket in no time.2

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1. Buy ten items from yard sales and thrift/charity shops, instead of paying department store prices. To locate charity shops (which accept donated clothes and then sells them) with the most exclusive labels, and items generally in the best condition, search out charity shops in up-market/high end locations. Be friendly to the shop clerk, and ask on which days newly acquired items are put on show to the public.

2. Use your clothes tumble drier less -- hang five loads of wet laundered clothes on your line in your backyard. You will benefit from lower electricity bills and the clothes will have that wonderful outdoorsy scent.

3. Once a month, make a pizza yourself, instead of having one delivered. While preparing one, batch freeze two others. The cost of making pizza is ridiculously low compared to buying in the store and especially having one delivered.

4. Instead of calling your relatives or friends long distance, sit down and write a long newsy letter. Or an email.

5. Reduce your families consumption of whole milk by two containers per week. Instead of drinking all milk, use re-constituted dried milk which has been chilled.

6. Give your children a nutritious packed lunch once a week. Include a piece of fruit and a homemade cookie.

7. Reduce your families consumption of canned or individually bottled soda by six cans or the equivalent, per week.

8. Bake two fresh loaves of bread every week, it is very therapeutic and much appreciated by everybody.

9. Reduce the number of cigarettes you smoke each day by three. Or give up completely and save even more money.

10. Save money on birthday gifts by making cards, wrapping paper, home-made birthday cake and related decorations, all yourself. It is easy and fun.

People work to earn money. Everybody needs money to cover daily expenses. But sometimes, you need money for an expenditure which is over and above your daily expenses. If you save some money out of your earnings, you can use your savings. When the savings are not sufficient, you need to take out a loan. A personal loan can be used for a number of purposes. You can avail a personal loan to buy a car or pay for a holiday trip. You can also obtain a personal loan to carry out home improvement job or to consolidate your debt.

Personal loans can be taken out in a number of situations. You can avail a personal loan even if you are self employed. Earlier, it was difficult for self employed persons to take out a personal loan since they can not prove their income. But now, lenders rely on credit score to decide whether or not to give a personal loan. With the increase in the popularity of self employment, offering personal loans to self employed persons has given a great business opportunity to lenders.

You can also obtain a personal loan if you have a bad credit history. Since every lender is willing to offer personal loans to the borrowers with a good credit score, many lenders have decided to grab the opportunity of providing bad credit personal loans. Bad credit personal loans also give lenders the opportunity to charge high rates of interest. The borrowers with a bad credit score have to pay high rates of interest since it is usually difficult to obtain a bad credit loan.

Personal loans are broadly classified as secured and unsecured personal loans. If you want a large amount of loan, you should go for a secured personal loan. To avail a secured personal loan, you must have a property that can be used as a security. Another benefit of secured personal loans is the low rates of interest. If you do not have a property, then you will have to go for an unsecured personal loan. Unsecured personal loans carry high rates of interest.

The best way to get a good personal loan deal is to find one over the Internet. Shop around and compare the personal loan quotes offered by various lenders. Consider all the above mentioned points very carefully before applying for a personal loan.

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