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Information on mortgages, home equity loans, and consumer credit to help you use the power of financing to your advantage.
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• Get the Discover® Platinum Card
Lowest Interest Rate Credit Card Tips
• Consumers reduced their borrowing by record amount in November. Keeping a watchful eye on their debt, consumers cut back on their borrowing in November by the largest amount on record, the Federal Reserve reported Friday.
• Credit card teasers. Q. I'm considering transferring my credit card debt to a new card with a low introductory rate. Is this a good idea?
• Read the fine print before transferring your credit card balance. Consumers juggling holiday bills may be tempted to transfer their credit card balances to a new card with a low, temporary "teaser" rate, but they better read the fine print first.
• Beware of tempting offers to borrow more on low-rate credit card.
Q: A few years ago, I got a low interest rate on balances transferred to a new credit card, and have been steadily reducing the debt. I've never used the card for additional purchases. The card issuer recently offered me checks to borrow more at a rate of 1.9 percent for six months and a higher variable rate thereafter. Should I bite?
• Retail credit cards promise discounts but carry high interest rates. As you approach the checkout counter with your arms full of sweaters or toys or other purchases for the holidays, it's not uncommon for the sales clerk to offer you a deal _ 10 percent off your bill if you open a store credit account.
• Innovative Programs Indicate Innovative Card. It could very well be one of the most innovative credit cards going right now. It certainly has some of the most interesting concepts behind it.
• The Best Ways to Consolidate Debt, Including Credit Card Debt With many low rate offers out there, this can be one of the easiest ways to consolidate. Start by calling your current issuer to ask what interest rates they will offer you if you transfer balances from other cards over to theirs. Go for a fixed rate if you can get it, and ask them to waive any transfer fees..
• Fixed Rate vs. Variable Rate Cards. Rising interest rates have become the focal point of many recent conversations about credit cards. For consumers who carry a balance on their credit card(s), such conversations are often filled with disgust, anger, and confusion. You may be wondering why credit card rates are rising and what, if anything, that you can do to avoid higher rates. We hope that the following tips will help you gain a better understanding of interest rates, specifically variable and fixed interest rates.
• Low Introductory Rate Credit Card Offers Not Always Destined for the Junk Pile.
“Simply fill out these checks to pay off your loans, bills and other higher-rate credit card accounts. Or use them to improve your home, take a dream vacation, or ...”
• Credit, ATM and Debit Cards: What to do if They're Lost or Stolen. Many people find it easy and convenient to use credit cards and ATM or debit cards. The Fair Credit Billing Act (FCBA) and the Electronic Fund Transfer Act (EFTA) offer procedures for you to use if your cards are lost or stolen.
• Credit Card Debt Reduction Strategies.
• What do personal bankruptcies have to do with bank card interest rates? In an attempt to reduce credit card losses, several major banks are now tying bank card interest rates to the credit records of applicants.
• Credit Insurance: Is It for You? The next time you apply for a mortgage or personal loan, you may be asked if you want to buy credit insurance, or it might already be included in your loan proposal. Credit insurance protects the loan on the chance that you can't make your payments. Chances are you've gotten your share of "pre-approved" credit card offers in the mail, some with low introductory rates and other perks. Many of these solicitations urge you to accept "before the offer expires." Before you accept, shop around to get the best deal.
• The Party's Over! Dealing with Holiday Bills. The novelty of many Christmas gifts has eroded. The champagne bottles from New Year's Eve celebrations are being placed in recycling bins. The much-anticipated new millennium is finally here. The new year brings much promise, but not everyone is optimistic about the prospects for the new year - particularly those that soon will be getting their credit card bills in the mail!
Credit Card Calculator
• Credit card payoff Use this calculator to see what it will take to payoff your credit card balance, and what you can change to meet your repayment goals.
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