Rate Card

2007-09-07 10:25:53

( Financial )



RATE CARD

Credit acquisition through credit card is very accessible these days. In fact, credit card companies are on the look-out to expand their cardholders and their credit lines. Credit card companies are always trying to find ways to give more loans by relaxing their once highly strict policies. They are even giving out perks and privileges to cardholders with high loans. If you are among those cardholders who are having problems with too much credit card loans due to its accessibility, you should take time to review your credit card company’s interest rate. It is very important that you study how much interest rate is added to your principal loan, which you are bound to pay as well.

You should analyze your rate card to give you a picture of how much money is added every time you swipe your card. It is troublesome that today many people do not have any idea how much interest is added to the rate card. You may know how much percent is affixed to your rate card but you may not realize how much in dollar value is charged to you with every single purchase you make.

0 APR VISA AND YOUR CASH FLOW

You may not realize it but your rate card can seriously affect your cash flow due to imbalances. The dollar value of your rate card when accumulated can be staggering and worse, it can compound when it is not paid on time. It may even go unnoticed as when you do not realize how compounding interests can be equal to.

If you want to avoid this deadly trap, you should educate yourself on the terms and conditions of the rate card. You should understand the multiplier effect of compounding interest rate should you fail to pay on time. It is very important that you get the clear picture every time you swipe a flashy rate card in your purchase.


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