2021, Start a new year on top !

Credit card interest rates

               Credit Card Interest Rates-Victims Of A Snow Job

I think that recently many of us have begun to wake up to the wonderful snow job that we have fallen victim of. We now see that too much credit is a losers game. 

But, you still may have credit and it may take you time to untangle yourself. In the meantime you should find out all you can about credit card interest rates.

You see credit card interest rates can be affected by many things. The first thing you are likely to think of is your credit score. 

And it is true, your credit score will determine the amount of interest you pay on your credit card (as well as on every loan you have). 

But, what affects your credit score? Well, have you paid your credit card bill late... even once? If so, it's very likely that the card company raised your interest rate and dinged your credit score. 

They will use pretty much any type of trick they can to get more money out of you. Make sure you pay at least the minimum every month and on time. 

Another thing you really need to learn to do, no matter how tedious and hard to understand it is, is to read the fine print every single time you get a bill. 

Very often the credit card company will put some new terms into effect and that will be on your bill. But the problem comes because few people actually read over their whole bill every single month. 

If you don't, you may find that the terms such as the due date, or where you have to send your payment have changed. 

If you miss that information  and you send your bill out late or to the wrong place your payment will be late. 

That is all the company needs to ding you and increase your interest rate. So, the moral of the story is read your bills over thoroughly every single month. 

Getting rid of your cards as soon as you can is a great idea also. 

Another thing you can do is to change cards. If you can get another card with a lower interest rate you can transfer your balance to the new card. 

Again, you have to read the details. Make sure that great low rate will last for a while before you transfer. 

Also, make sure there are no transfer fees. If you have another loan with a bank that you are in good standing with, you may want to ask that bank for a credit card. 

Sometimes you may get a better rate with a lender who you already have a good account with. 

I will warn you though that no matter if we like it or not, banks are businesses and their business is to make money. 

Unfortunately, primarily because of increased competition, they are trying to squeeze every penny of profit they can out of their customers. 

That is why you need to be on the lookout for some of their more sneaky ways of increasing your interest rate. 

You will be limited in the amount of control you have over your credit card interest rates, but you do have some so find out as much as you can and try to lower those ridiculous rates. 

Consumer protection laws

 If you would like a copy of the Consumer Protection laws, you can safely download them from here.

I think everyone who is having any credit problems should have a clear knowledge of the laws effecting them, so I have placed a link so you cane get them in front of you.   Just Click Here !

What you don't know could hurt you !   We are looking out for you !

                                                                     On the lighter side !   

                         

Gotta Love It !

Christmas is coming, AGAIN !

Just a couple months away and if you would like to get a head start on the gifts I have a couple of items left over from my flea market days that I'm selling cheap. Email me if you want more info and I don't have the website that's listed in the video any longer but I still have the products.

 

Did you know ?

 If you're only income is social security or S/S disability the bill collectors can't attach that 

You may have to go to court and show proof though. also, bankruptcy can stop foreclosure !

Fight debt and win, we'll help !

                                                                

Personal Protection !

 

Stopping Collector Phone Calls !

 If you want to stop calls to your home from collectors you will need to use this tactic.

                                            Cease and Desist- Phone Calls Only

This means that you can ask the debt collector to stop calling you and correspond by mail only in the future.

To use this method simply send the collector a letter asking them to cease and desist with all phone calls in relation to the alleged debt [account #xxxx]. Please correspond by mail only.

According to the FDCPA the debt collector must abide with your wishes, end of story.

If you just want to limit the phone calls you can tell the debt collector your "off limit hours" that you won't except calls or just screen your calls and let them go to voice mail and third,

 You can use a speaker phone and a simple recorder to record calls from the collector. At the beginning of each call, simply notify the collector that your recording the call. They probably won't want to talk as much or as long, maybe not at all, when you do this.

I hope this is helpful, Dutch