http://toms-shoes23.webs.comOver the past two years,toms outlet store, the Federal Reserve has raised interest rates substantially,0% Apr Credit Cards Are The Smart Way To Manage Your Debt,occhiali oakley. Consequently,alviero martini online, credit card annual percentage rates have followed suit,discount longchamp. Nearly all credit cards tie their interest rates to the prime rate,cheap longchamp, which has doubled to 8% from 4% during the string of rate hikes that began in 2004. This has led to interest rates on credit cards rising by 30% or more. Since August of 2006,toms online, the Federal Reserve has kept interest rates steady,alviero martini outlet, and many economists believe the next move may be a reduction in rates,cheap toms shoes womens,0% Apr Credit Cards Are The Smart Way To Manage Your Debt. However,longchamp le pliage, the rate reductions have yet to begin,longchamp outlet, and credit card interest rates remain relatively high,toms outlet online.

For those who carry balances on their credit cards,longchamp shop online, high interest rates have resulted in higher monthly bills,borse alviero martini, with many seeing their minimum payment increase substantially,cheap toms. Fortunately,cheap toms, now, more than in recent years,ongchamp le pliage shop online, 0% credit cards offer a safe harbor from high rates,oakley sconto. There are two basic types of 0% credit cards: those that offer a 0% rate on balance transfers, and those that offer a 0% on purchases,borse outlet. The best credit cards offer 0% interest on both,discount toms. How much savings can these credit cards provide,abbigliamento online? Let’s take a look at the math.

Let’s assume you’re carrying a balance of $10,cheap toms,000,polo ralph lauren. If you simply pay the minimum each month,alviero martini outlet, you will accrue close to $2000 in interest over the course of a year,toms shoes, thanks to daily compounding balances (too bad savings accounts don’t pay that type of interest),occhiali oakley. With a 0% balance transfer,longchamp outlet, you can expect to save all of that money,toms shoes locations, plus, you’ll be given time to pay down that debt,longchamp bags. When the 0% period expires,polo ralph lauren 2013, not only is there a chance your interest rate will be lower,louis vuitton shop on line, but,louis vuitton outlet, if rates do not go down,abbigliamento online, you can always transfer the balance to another 0% credit card,cheap toms shoes womens. Plus, if you make a minimum payment of $150 a month,occhiali oakley, your balance at the end of the year will be closer to $8200,toms shoes sale, rather than $12,cheap toms shoes for sale,000,longchamp outlet. That’s quite a difference,borsa longchamp.

Now,toms shoes, if you’re fortunate enough to have no credit card debt,longchamp borse, a 0% interest rate can be handy tool to avoid interest expenses on new purchases and free up some cash in the short term,toms cheap. Need a new fridge,oakley? Have to fix your car,borse alviero martini? Want granite counters for the kitchen,spaccio occhiali? With a 0% credit card, you can defer the cost of these expenses for a year while taking advantage of high interest rates,longchamp outlet. How,alviero martini outlet? By placing the cash that would have left your bank account into a high-yield savings account and taking advantage of rewards credit cards,cheap toms shoes.

Let’s assume you will make $10,occhiali oakley,000 of purchases over the next few months,toms womens shoes,0% Apr Credit Cards Are The Smart Way To Manage Your Debt. Using a credit card with a 0% interest rate and 1% cashback rewards,louis vuitton borse, coupled with a high-yield savings account with a 4% interest rate can put about $500 extra in your pocket over the course of the year,borse alviero martini.

Of course,0% Apr Credit Cards Are The Smart Way To Manage Your Debt,longchamp borse, not everyone pays their balance in full each month,longchamp le pliage. With average credit card interest rates in the 12% to 15% range,ralph lauren italia, carrying a monthly balance of only $1000 can cost close to $150 a year,cheap toms. Saving $150 in interest charges may not be a fortune,polo ralph lauren, but its surely enough to buy a nice dinner with a good bottle of wine,spaccio oakley.

No matter how you use your credit card,cheap toms, a 0% interest credit card can have a positive effect on both short and long term cash flows,toms shoes. Given that the alternative is paying more than 12% in interest,borse outlet, choosing a 0% credit card in this atmosphere of high interest rates is a no-brainer,longchamp borse.

Related articles:




This entry was posted in News and tagged , , . Bookmark the permalink.

Leave a Reply