SuperCharged Secret 1 of 5 - Credit Card Utopia
I AM THE CONSUMER. AND I HAVE LOW-RATE SUPER-POWERS!
Note: The following is part 1 of a 5 part series. Over the course of these next 5 articles, I am going to introduce you to several methods for maximizing the use and benefits of the best Credit Cards and offers on the market today. This information, when used in conjunction with one another, is unlike anything you've ever seen before. I like to call this approach, the "5 SuperCharged Secrets to Credit Card Utopia."
Without further Ado, let's get started:
SECRET 1: I AM THE CONSUMER. AND I HAVE LOW-RATE SUPER-POWERS!
1) How would you like a zero interest credit card?
WHAT? Did you say ZERO interest? That's like 0.00%, or .0000000%, or nothing, or nada, or no interest? Tom! Can't be!!!
2) Actually, that's exactly what I mean.
You can have zero interest on a perfect day, or, can you live with 4% interest? I just received a credit card offer for 4% interest (which I turned down?), but if I needed it, that is completely reasonable, don't you think?
3) You see, you are the consumer, and you have Low-Rate Super Powers!
This is a hot, credit-hungry market we're in. There are banks and lending institutions that would do just about anything to entice you in to their little web of plastic loanery.
4) Here's Secret #1 revealed:
Credit Card companies are competing with each other, by offering consumers like us, low-interest, to no interest, balance transfers on already existing debt. Granted, these are usually (but not always?) limited to a time period like 6 months?
But, what do you care? 6 months of zero interest is certainly MUCH better than 6 months of 19% interest, RIGHT?
5) The first, most important thing you need to do, is examine if you have outstanding balances on other credit cards. If you do, then wisen up!
Let me be your Dad for a second?"Stop being lazy!" Go shop for a new credit card, and ask them if they offer balance transfer opportunities. Virtually ALL OF THEM DO! When you get the answer you're looking for, apply. They'll send you a nifty letter in the mail with a bunch of blank checks. Have a feel day! Go pay off your other credit cards, transfer the balances, and start enjoying zero to low interest! Pretty cool, huh?
6) But TOM, what do I do in six months?
Oh please. You know what you need to do. Mark your calendar, or your Franklin Covey, or your PDA, or whatever you use, and repeat the procedure again in 6 months (hot-tip: look for no-time limit zero interest balance transfers.)
This is easy stuff, folks. But it does take a couple extra steps.
That's why people AREN'T DOING IT, if you can believe that!
Well, it's your turn to be the smart consumer, right? Take this BIG, HUGE, sensible first step, and you are well on your way to the pearly gates of Credit Card Utopia!
We've enjoyed providing this information to you, and we wish you the best of luck in your pursuits. Remember to always seek out good advice from those you trust, and never turn your back on your own common sense.
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About The Author
Tom Levine provides a solid, common sense approach to solving problems and answering questions relating to consumer loan products. His website seeks to provide free online resources for the consumer, including rate-watch, tips and articles, financial communication, news, and links to products and services. You can check out Tom's website here: http://loanresource.org, or you can email Tom at info@loanresource.org.
MORE RESOURCES:
Fallout From TJX Credit Card ... InternetNews.com - By Andy Patrizio: More stories by this author: The indictment of 11 criminals involved in the TJX credit card theft incident shows that cybercrime is indeed ... Video: Feds Charge 11 in Massive Retail Hacking Case Credit card thieves ran a polite, professional help desk 11 charged over US credit card theft |
 Sabah | US Consumer Credit Increases $14.3 Billion in June (Update2) Bloomberg - Consumer credit rose by $14.3 billion, the most since November, to $2.59 trillion, the Federal Reserve said today in Washington. In May, credit rose by $8.1 ... Consumer credit rose $14.33 billion in June US consumer credit rose at double the pace forecast in June Consumers release their credit cards from musty wallets |
Credit Crunch Videos Sky News, UK - Equity, bond, and money markets were reluctant to accept that this was going to be a global banking problem, leading to a massive credit crisis. ... Credit crunch and banks: from the Rock to a hard place Many happy returns, credit crunch Credit crunch: Around the world |
The End of Credit Card Consumerism U.S. News & World Report, DC - For more than four decades, our shopaholic nation has shown an insatiable desire to spend until our credit cards melt. And throughout this era, ... |
 Interactive Investor | Credit Suisse auction-rate debt suit may start frenzy Reuters - ST Micro alleges in the August 6 complaint filed in federal court in Brooklyn, New York, that by late 2006 Credit Suisse knew that collateralized debt ... Fannie Mae expects smaller credit losses in 2009 Credit crunch cripples European insurers' profits UPDATE 1-CS reinitiates IT hardware sector with "market weight" |
Credit Suisse Sued Over Auction-Rate Securities (Update3) Bloomberg - 7 (Bloomberg) -- Credit Suisse Group, Switzerland's second-biggest bank, was sued by Swiss semiconductor company STMicroelectronics NV for allegedly placing ... STMicro sues Credit Suisse over auction-rate debt Credit Suisse sued over 'auction' debt Auction-rate triage |
 ABC News | Credit expenses lead to $2.3 billion loss for Fannie MarketWatch - The company reported credit-related expenses of $5.3 billion in the quarter, which more than offset revenue of $4 billion. Fannie Mae also took a charge of ... Fannie Mae posts $2.3 billion loss as credit costs rise Fannie: Sun will come out tomorrow Fannie Mae Posts Fourth Straight Loss, Cuts Dividend (Update2) |
 Boston Globe | Credit cards: US authorities charge 11 in global identity theft racket guardian.co.uk, UK - American authorities have uncovered a global computer hacking and credit card fraud ring spanning the US, eastern Europe and Asia, officials said. ... Gang charged for theft of 41 million credit card numbers 11 charged in connection with credit card fraud Retail Hacking Ring Charged for Stealing and Distributing Credit ... |
Settling the credit score CNNMoney.com - Having a good credit rating is more important now than ever, but determining exactly what yours is gets complicated. By Jessica Dickler, CNNMoney.com staff ... The FICO Score- Unregulated Discrimination? Back-to-school shopping tips |
 ITV.com | Barclays' Profits Hit by Credit Crunch BusinessWeek - by Kerry Capell The credit crunch continues to take its toll on British banks. On Aug. 7, Barclays (BCS) revealed its first-half pretax profits fell by ... Barclays: credit and credibility Barclays hit by £2bn profits slump as credit crunch takes hold Income at Barclays declines less than analysts expected |
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