Balance transfers

I just received an offer from one of my credit cards to get 0% interest on balance transfers up til July 2008 an then 6.99 fixed interest rate for the life of the balance. This will save me quite a bit in interest because the cards that I will be transferring from have significantly higher interest rates than this one. In order to take advantage of this offer I need to have all the balances transferred by March 9th. This is a fabulous...

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4 ways to save on credit cards

Watch your limit Pay on time Lower your rate No annual fee When you watch your limit closely you will know when a potential purchase could push you over the limit. When you go over the credit limit on your card you can be charged with a hefty over limit fee. The credit card company also reserves the right in most cases to dramatically increase your interest rate instantly. This ends up costing you more and more money over time. This...

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Debt snowball rolling the other way

I have looked over some of the financial changes I will have to make this year and I have decided to change my debt snowball strategy. I was originally going with the highest interest method but I will have to now use the lowest balance method. You may remember that I recently got my highest interest rate dropped on one of my credit cards. I was using another 0% interest card to pay off the other cards and yesterday I went in to do a...

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Discover card rate dropped

Yippeee! Today I took a big risk and decided to call Discover to see if I could get my interest rate lowered. I told the customer service representative that I wanted the rate lowered and after checking out my payment history they decided to drop my rate down 5 points starting on January 13th. I am so incredibly happy because I did have a really high rate on that card. The interest alone from that card was more than the minimum...

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Big mistake

On a point of order…I got this fixed but did not want to delete the post. I called the credit card company and there was a problem with the website. I did pay on time…and the payment did go through. The website was just showing the wrong information. 11/26/06 Today I noticed that I had committed a debt-reduction sin. I completely forgot to check my software for the due date of one of my credit card...

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Improve your credit score

5 steps for improving your credit rating Close out your newest accounts so that you don’t lose your longer credit history. Close out accounts slowly over several months. Verify that all accounts you’ve closed are reported as “closed by consumer” for the best report. Even if creditors offer to raise credit limits, allow yourself only moderate credit limits. Keep your balances low and avoid revolving balances...

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