Credit Cards Archives - I Am Credit Fit

Credit Card vs Debit Card

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You’ve heard the phrase about a million times right before you swipe your card through those Point of Sale (POS) terminal at the grocery or department store. (By the way, why the crap can’t those things all work the same way? I have to guess the order of operation at each retailer. Do I swipe then press credit? Do I tell the clerk what I’m using first? Do I press cancel to use credit? You have two choices in this situation. (1) Ask the clerk, Continue reading →

Why You Should Do Credit Card Arbitrage

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I wasn’t going to ever write about credit card arbitrage, but a couple of fellow PF bloggers have had some experiences within the last week that I felt deserved comment. First I read Q’s post at $1 Million to My Name about how he’s finally succumbed to the lure of 0% balance transfers. Credit card arbitrage, or 0% balance transfers, are a common way some personal finance-savvy people make a little ‘free’ money. Essentially, you apply for a 0% balance transfer credit card with a large credit Continue reading →

Credit Card Approval Criteria & Best Use of Credit Cards

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Credit Cards are small plastic cards that can give you financial flexibility. There are different types of credit cards that are issued by financial companies. Examples of these are business credit cards, student credit cards, and secured credit cards, among others. But before somebody gets approved for a card, a series of background check is performed first. And all credit card companies, including those providing online credit cards, use them. Credit Card Approval Criteria Used in Issuing a Credit Card Creditworthiness. Creditworthiness corresponds to a Continue reading →

Are Credit Card Companies Really Charging 83.3% Interest?

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Everyone pays attention to the interest rate when shopping around for credit cards, but Finance Charge policies are rarely glanced at. Are credit card company’s are really charging you 83.3% interest? The normal credit card APR ranges from 12%-29%. When a customer receives a $1000 loan from a bank, the bank in turn has the legal right to charge interest on the rate you borrowed the loan. If, for example, the interest rate were a fixed 10%, cost of borrowing the original $1000 would be at Continue reading →

The Disadvantages Of Credit Cards

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Credit cards can really be your savior in particular on occasions that you don’t have enough cash inside your pockets to buy an item that is badly required. It can give you the possibility of shopping for a range of items, supplies, services and properties without having to pay for them at once. On the other hand the disadvantages of credit cards can go ignored in the short run, but in the long run it’ll catch up with you. Disadvantages of Obtaining A Bank Credit Continue reading →

How To Pay Off Debt With No Money

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Achieving Financial Freedom is not an easy task. Credit card debt is one of the most common types of debt and often times the hardest type of debt to pay off. While you may only owe a couple of thousand of dollars on your credit cards, if you are only paying the minimum amount due you could actually end up taking several years to pay off the credit cards and in total pay more than double the amount you actually owe. To avoid this problem, Continue reading →

Hidden Facts About Credit Card Companies

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Credit Card Companies & Credit Card Debt Credit card debt is the most common contributor of debt for most people; however, very few people know exactly what credit card companies are allowed to do and not allowed to do when it comes to their credit. Understanding what boundaries credit card companies must abide by can help you to become one step closer to better managing your debt. First, it is important to understand that contrary to popular opinion credit card companies have the absolute right Continue reading →

Understanding A Debt Consolidation Loan
The facts for a debt consolidation loan Unfortunately, many people wait far later than they should to consolidate their debt and manage it. One of the main reasons for this is that some people perceive debt consolidation to be negative when in reality it actually provides a number of advantages. Like any other important financial decision; however, you should fully understand the advantages and disadvantages of consolidating your debt. First, understand that the process of consolidating your debt involves obtaining one loan to pay off Continue reading →
What is Chapter 13 Bankruptcy?
What is Chapter 13 Bankruptcy? You may be asking yourself “What is chapter 13 bankruptcy? What are my options with chapter 13 bankruptcy?” When considering bankruptcy as a solution for your debt problems there are several factors of which you should be aware before taking this important step. While some people do decide that bankruptcy is still in their best interest, taking the time to understand all of the facts up front can help you to make the most informed decision possible. Since Chapter 7 Continue reading →
Basic Tax Diversification
When investors talk about diversification, they’re typically referring to diversification. But there’s another kind of diversification. It’s called tax diversification and you might be practicing it without knowing it. Tax diversification is the idea that you should have investments subject to each of the various tax treatments. The idea applies not only to U.S. citizens, but those of other countries as well. There are three types of tax treatments for our purposes – tax-deferred, tax-free, and taxable. The three account types Tax-deferred. Tax-deferred accounts are Continue reading →
Hidden Facts About Credit Card Companies
Credit Card Companies & Credit Card Debt Credit card debt is the most common contributor of debt for most people; however, very few people know exactly what credit card companies are allowed to do and not allowed to do when it comes to their credit. Understanding what boundaries credit card companies must abide by can help you to become one step closer to better managing your debt. First, it is important to understand that contrary to popular opinion credit card companies have the absolute right Continue reading →
Manage Debt to Income Ratio and Your Debt
Manage Debt to Income Ratio You might be asking yourself “How do I manage my debt to income ratio?” Understanding your debt to income ratio is extremely important in managing your debt. Unfortunately; however, many people fail to understand this very important concept and as a result their credit scores suffer. Regardless of whether you are currently considering taking out a loan or you are looking at ways in which you can pay off your current debt load it is imperative to always keep a Continue reading →

I Am Credit Fit

Credit Card vs Debit Card

Why You Should Do Credit Card Arbitrage

Credit Card Approval Criteria & Best Use of Credit Cards

Are Credit Card Companies Really Charging 83.3% Interest?

The Disadvantages Of Credit Cards

How To Pay Off Debt With No Money

Hidden Facts About Credit Card Companies

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