Posted on
March 27, 2009
at
2:12 am
Since credit cards usually carry the highest interest rates so I like to say- The worst form of debt is credit-card debt. Bad debts which we have taken on for things we don't need or can't afford credit card would be one of them. I surprised when knew that a bank offering 2.5% but I found that it is a monthly rate.What do you think about it?
Posted on
March 27, 2009
at
4:18 am
Right dear if the rate remain 2.5% yearly that's a great for credit card but this is not a yearly rate but a monthly rate then the yearly rate will 30%. And no interest for first few months normally a promotion offer offered by any bank or ecomical org. Generally when they have a good number of client they off the promotion offers.
Posted on
March 27, 2009
at
4:41 am
Oh dear here the processing time is much more long than any other country. Once a bank announced a interest free (for one year only) credit card, I appllied but they not allowed me the credit card because I have no such a big bank transaction what they required. And they noticed it after three months.
Posted on
March 27, 2009
at
5:40 pm
And, those introductory interest rates can go up after awhile. Often a person's regular interest rate goes up if the person is considered a risky debtor. I posted about this phenomenon on my Destroy Debt blog.
Posted on
March 27, 2009
at
10:00 pm
That's all right dear, I think no one wish to live with debt but we have some limitation in real life, we have to face some critical situation time to time. So, we have to go with some loan not a matter loan with low interest rate. But if we not get any loan on our critical time we can use credit card if we have one.
Posted on
March 27, 2009
at
10:34 pm
I agree. My brother has bad debts with credit cards until now and its like his paying off high interests on his purchases. Thats why I didn't get a credit card but I have a debit card which I use for shopping groceries.
Posted on
March 27, 2009
at
11:36 pm
Obviously correct that a good number of people in most country fail to pay the bill of credit card. I think in most case they can't think about the amount to be paid with a high rated interest. Actually, thee have to pay an amount about almost doubled amount. So, they are going to such debt.
Posted on
March 28, 2009
at
8:23 am
In the US, the credit card companies have found another sneaky way to charge high interest rates to customers that pay on time through a method called universal default. I wrote about this subject on my Destroy Debt blog. It's surprising how easy it can be to default and then have super high credit card interest and a big bill at the end of the month.
Posted on
April 1, 2009
at
8:45 am
These days, that's about all a person can do. Everything costs so much. Right now, my family is looking to scale back even the most basic costs including rent.
