CREDIT CARDENZA

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Balance transfers allows you to consolidate your high-interest rates credit card debts into a credit card with a low-interest rate. You can have the freedom to choose how long to pay your consolidated debt according to your capacity to pay. However, there are drawbacks with its use:

1. Make sure you pay the amortized balance transfers in full to avoid getting interest charges on your consolidated debt.
2. Freeze your credit cards by not using it anymore thus not accumulate further debt.
3. Use your credit card with consolidated debt sparingly so that you will only have to pay for the amortized balance transfers monthly.
4. Do not miss paying the amortization or else the bank may increase its interest rates that will defeat the purpose of your transfer.

Section #1

I have been religiously paying for my credit card balance these past few months. However, last June, due to unavoidable circumstances, I have not been able to pay but I have noted to myself that I will resume paying again as soon as I get my paycheck.

After that, I have been receiving calls again from collection agencies. They once again resumed calling my office, which is useless because I rarely go there because I work from home. They also call at home and started threatening me again. I calmly spoke with them and explained the situation. They made me feel like I was running away from my financial obligations and even wanted me to pay the full amount at a specified date. There was no way I can do that and if only I have the money, I would have paid the credit card company a long time ago so as not to incur additional charges and for me to experience all of the hassle.

When our conversation ended, I explained that I have already made payment arrangements and it was just unfortunate that I failed to pay for June. I just told them that I’ll pay as soon as I have money. Sigh. It was really a hassle and I promised myself that after I pay off my balance, I’d never get a credit card again. Ever.

Section #2

One of the biggest advantages of online credit card apps is that they give instant feedback. After you fill out the online credit card apps, you can find out almost instantly if you were approved or not. This is a good way to get a credit card in a hurry. Some places will process your online credit card apps through several companies to increase your chances of securing a credit card if you have poor credit.

Make certain that you fill out everything honestly and to the best of your ability when you are using online credit card apps. This will ensure that you don’t have problems later down the road.

Check that the online credit card apps site is a secure site. You don’t want to send your information that you use for the online credit card apps on server that isn’t encrypted.

Section #3

It is convenient to check transactions online. Most credit cards offer online access to its customers so that they can check their balance, know their available credit limit and other stuff.

When I used to have a credit card, I requested that my bills be sent to me via email. I didn’t want to wait for my bill via mail as it could take longer and sometimes it doesn’t arrive before my due date so there were times I would miss paying on time because of this. I was very busy then and would forget to check it.

Once I receive my statement of account via email, I would just need to log-in to their secure site and from there, I can view my account’s transactions. The session times out after five minutes if there was no activity detected and I guess this was one way of ensuring my security online.

In this day and age of technology, it’s good to know that we already have this option especially for people like me who spend most of their time online. Just be careful in giving our personal information and in responding to emails that requests for password or other pertinent info especially if it leads to another website that is not related to the specific website of your bank.