Debt consolidation ? Options for Reducing Credit Card Costs

Americans are using credit cards more than at any time in history, and credit card companies are reaping record profits. One of the reasons that the credit card industry is so profitable is that so many of us use our credit cards unwisely.

If you have good credit, you can get a credit card with a reasonable interest rate; say 10% or so. You can keep that rate by paying your bill on time. On the other hand, if you pay your bills late or fail to pay in full, then you will have to pay late fees and interest. Late fees often range between $15 and $29; some card issuers may charge even more. Adding to the pain of paying late fees, however, is the likely change in interest rates on your card if you pay late. A late payment may trigger a substantial increase in the interest rate on your card, and that "reasonable" interest rate of 10% may suddenly rise to 20% or even 25%!

It's hard to pay off your credit card balance when you have late fees and 25% interest, so this is something you definitely want to avoid. If you usually pay on time, and you pay late once and are charged a late fee, ask your credit company if they will waive the fee. They will often do it ? once. Some will not do it at all, but it is always worth taking the time to ask. If they are unwilling to help you, then you may be better off shopping around for a better credit card deal elsewhere.

You can often save money by transferring your balance to a lower interest credit card, if you have one. Competition has been fierce during the last few years among credit card companies, and it is fairly common to receive "promotional" rates of less than 5% if you transfer your balance to another card. Be sure to read the fine print, however. Those low rates usually apply only to transferred balances, and not to new charges placed on the card. There is usually a time limit associated with the promotional rate, and higher rates may apply at the end of the time limit, perhaps even retroactively!

In summary, if you want to minimize your credit card costs, try the following:

Shop around for a credit card with a low interest rate.

Pay your bills on time. A good way to do this is to pay online. That way, you won't have to worry about your check being delayed in the mail.

Transfer balances from high interest rate cards to cards with lower rates.

Use your cards wisely. If you can pay cash, do it.

A few simple steps can save you a fortune in interest charges and late fees.

©Copyright 2005 by Retro Marketing. Charles Essmeier is the owner of Retro Marketing, a firm devoted to informational Websites, including End-Your-Debt.com, a site devoted to debt consolidation and credit counseling, and HomeEquityHelp.net, a site devoted to information regarding home equity loans.

---

Google News Updated : Fri, 21 Nov 2008 21:51:50 GMT Globe Magazine preview: Chuck Turner on race, ethics - Boston Globe WHDH-TV Globe Magazine preview: Chuck Turner on race, ethics Boston Globe - 1 hour ago For an essay in the Boston Globe magazine that will appear this Sunday, freelance writer (and former Boston city councilor) Tom Keane conducted an e-mail interview with Boston City Councilor Chuck Turner. Turner released on $50K bond in bribery case Boston Herald Boston politician Chuck Turner accused of taking a bribe NECN The Associated Press - Bizjournals.com - WBUR - WBZ all 375 news articles Publ.Date : Fri, 21 Nov 2008 20:32:45 GMT UN: Gunmen kill woman while trying to rape girl at camp - CNN International WELT ONLINE UN: Gunmen kill woman while trying to rape girl at camp CNN International - 1 hour ago (CNN) -- Armed men entered a Congolese camp for displaced people Friday to kidnap and rape a girl, but when the girl screamed, the gunmen fired shots, killing a 20-year-old woman, a UN spokesman said. DR Congo rebels say Hutu militia heading to evacuated zone AFP Rebel violence is latest in string of plagues afflicting Congo's Goma Los Angeles Times Sydney Morning Herald - Whitman Pioneer - BBC News - Reuters all 1,940 news articles Publ.Date : Fri, 21 Nov 2008 20:44:05 GMT Florida Teen's Suicide Streamed Live On Internet - InformationWeek ABC News Florida Teen's Suicide Streamed Live On Internet InformationWeek - 1 hour ago Some thought the event a hoax until Adam Biggs, Jr.'s body was found by police. By KC Jones A Florida teen who intentionally overdosed streamed his death on the Internet while it occurred Wednesday. Florida teen kills self in front of live webcam Reuters Florida teen commits suicide in front of webcam The Associated Press ABC News - WTTE - TG Daily - FOXNews all 461 news articles Publ.Date : Fri, 21 Nov 2008 20:33:26 GMT Inside the Kobe-Shaq feud - SI.com TVNZ Inside the Kobe-Shaq feud SI.com - 5 hours ago By Mark Heisler This excerpt from Madmen's Ball: The Continuing Saga of Kobe, Phil, and the Los Angeles Lakers is printed with the permission of Triumph Books. Daily Dime: Shaq and Kobe play nicely - NBA ESPN Lakers roll past Suns Sports Network FOXSports.com - The Associated Press - Denver Post - East Valley Tribune all 645 news articles Publ.Date : Fri, 21 Nov 2008 16:36:50 GMT Congressional Leaders Vow Support for Carmakers - New York Times Vancouver Sun Congressional Leaders Vow Support for Carmakers New York Times - 1 hour ago By DAVID STOUT WASHINGTON - A day after declaring that American auto executives had failed miserably in making their case for federal aid, House Speaker Nancy Pelosi sought to encourage them on Friday, saying that “we don’t have any intention of seeing ... Bailout debate simmers as GM pares output Reuters Hill to Detroit: You Want Money? Play By Our Rules. Washington Post Detroit Free Press - Indian Express - FOXNews - WIS all 3,012 news articles Publ.Date : Fri, 21 Nov 2008 20:00:15 GMT NPR Radio Host's Conflict With Drug Makers Exposed by Sen. Grassley - InjuryBoard.com InjuryBoard.com NPR Radio Host's Conflict With Drug Makers Exposed by Sen. Grassley InjuryBoard.com - 2 hours ago Senator Charles Grassley (R-Iowa) just keeps uncovering all kinds of skeletons in the closets of influential people. This time he has found that a popular National Public Radio (NPR) host of the health and science show, “The Infinite Mind,â€� has a ... NPR doc didn't disclose pharma payments FiercePharma Grassley Knock NPR Host Goodwin for Drug-Industry Conflicts Wall Street Journal Blogs Pharmalot - Nature.com (subscription) - New York Times all 9 news articles Publ.Date : Fri, 21 Nov 2008 19:29:51 GMT Small blaze erupts in Malibu, but winds are helping firefighters* - Los Angeles Times Small blaze erupts in Malibu, but winds are helping firefighters* Los Angeles Times - 57 minutes ago The Los Angeles County Fire Department estimated the blaze has burned about two acres but appears not to be spreading. Wind conditions were favorable for firefighters, who were on the scene. Brush Fire Ignites in Malibu LAist Brush Fire Breaks Out In Malibu CBS 2 Ventura County Star - San Luis Obispo Tribune all 5 news articles Publ.Date : Fri, 21 Nov 2008 20:53:56 GMT RSS For Web Pages Website Traffic Promotion

PARLOT::Ebooks, Scripts, Websites, and more...

Adsense websites

How to Choose a Debt Consolidation Loan?

If you have decided that a debt consolidation loan is... Read More

Debt Consolidation Mortgage - Decode Its Apparent Complexity

Someone great once said that 'if it isn't the sheriff,... Read More

What is Debt Consolidation?

Debt consolidation may be the answer for anyone drowning in... Read More

Credit Cards Debt Consolidation

Consolidating credit card debt is never easy. Too often people... Read More

Benefits of a Debt Consolidation Loan

There are many benefits in choosing a Debt Consolidation Loan,... Read More

When Your Bills Are Piling Up Here Are 6 Different Ways to Consolidate

When it comes to debt consolidation some people dream of... Read More

Debt Consolidation Solution

Debt Consolidation is a solution that solves your debts. Debt... Read More

Debt Consolidation ? Be Careful When Trading in Your Car

The automobile has long been recognized as the classic American... Read More

Best Debt Reduction Service

There was a time when incurring debts was looked down... Read More

Getting the Most Out of Consolidation Loans UK

Before letting too much debt or too many payments get... Read More

16.4% APR $5,000 Auto Loan...HELP!

Are you the victim of a high interest rate auto... Read More

What is Debt Consolidation?

Here is a useful guide to what is Debt consolidation.... Read More

Debt Settlement Strategies

One of the most common social diseases remains dormant for... Read More

Bad Credit Debt Consolidation Loan

Nowadays, many people can get into a bad credit situation... Read More

Debt Consolidation -- Choose Your Credit Counselor Carefully

Recently passed by Congress, the Bankruptcy Abuse Prevention and Consumer... Read More

10 Pointers on College Loan Consolidation

Should I consolidate my college loans or not?1. Still in... Read More

Debt and New Spirituality

Overcoming the stigma of being in dept, grow in self-confidence... Read More

Thinking Beyond Debt Consolidation Loans

Planning to devise a permanent solution to the problems of... Read More

Use Caution When Entering Into Debt-Consolidation Loan

To the person drowning in debt, a debt-consolidation loan looks... Read More

Debt Consolidation ? How to Protect Your Credit Accounts from Theft

Last week, a security exploit at CardSystems Solutions, Inc, a... Read More

Debt Consolidation Benefits

If you've ever been in a situation where you needed... Read More

Debt Consolidation Primer ? Four Things You Can Do to Get Out of Debt

Problem debt is rampant throughout America. In addition to mortgages... Read More

Tracking Down Cheap Debt Consolidation Loans

In the modern world of expensive living and high interest... Read More

Is A Debt Consolidation Loan Your Best Option?

For many people the lure of easy credit has taken... Read More

Bad Credit Debt Consolidation Loans - Getting a Debt Consolidation Loan, Even With Poor Credit

An online debt consolidation loan allows even people with a... Read More