Vectors and 3D Models
Local Search - Finance
Weather Information
Get the App for Smartphones and Tablets

Go Back


WhmSoft Free Articles Directory
Free Articles for Reprint
Free Articles to Publish
Free Articles for Newsletters
Videos to Watch


Page Generation Date and Time:
07/26/2017 00:47:30

 
Free the Animation VR / AR
Play to reveal 3D images and 3D models!
   
 
vlrPhone / vlrFilter
Project of very low consumption, radiation and bitrate softphones, with the support of the spatial audio, of the frequency shifts and of the ultrasonic communications / Multifunction Audio Filter with Remote Control!



 
 
Alexa Data
 

Go To Articles Directory Home Page

To get the current article, - See Below (at the bottom of the page) -.
For top news titles, see below.
Web sites and videos listed in this page are frequently updated.
If you find that this page is useful (quality of web sites, images and videos, ...), you can add it to your favorites.
Bookmark Page !

Tell a Friend:



With your mobile phone (WAP / I-Mode / iPhone / PDA), for free:
The Top News - http://www.whmsoft.net/services/wap/news.php
The Daily Files - http://www.whmsoft.net/services/wap/get.php
All the Directory Files - http://www.whmsoft.net/services/wap/choose.php

Web version of feeds:
Podcast Music - http://www.whmsoft.net/services/web/wpodcast.php
Daily Files - http://www.whmsoft.net/services/web/wget.php

You can play the Guitar Drum Revolution game (flash game) by following the link below:
Play Guitar Drum Revolution Game


You can play free online games (flash games) by following the link below:
Free Online Games

Play the samples below:
01235 Sonic Angel Island01529 Gems1250 Pool JamTerrorist KillArctic Quest 2

You can view the people (celebrities) news and the front page news (with videos, images and constant updates) by following the link below:
View Recent News
or by visiting the WhmSoft Service blog:
News Photos Slideshows


Article Keyword Videos to Watch
Finance
Click on the image to start the video.



Related Topics
Images - Links - Articles

finance
finance yahoo
finance calculator
finance definition
finance charge definition
finance jobs
finance news
finance express
finance major
finance salary
New Orleans finance
New Orleans


Related Images



Article Category Videos to Watch
Finance
Go to the Videos Pages


Credit Cards: Why You Should Pay More Than The Minimum

In today's world of online shopping and bill servicing, credit cards have become almost an essential part of our everyday lives. No one would argue that they don't make life easier, but it's also true that they have a dark side in that it's all to easy to build up debt.

Of course, it's simple to advise against getting into debt by overspending with your card, but that advice is perhaps a little hollow for people who have already built up a balance. If you're lucky, that balance is not yet too much of a problem, but one almost guaranteed way of setting your debt on the slippery slope is to continue spending with your card while only making the minimum monthly repayment required by your card issuer.

Each month when you receive your statement, the minimum amount you have to pay will be clearly shown, and many people choose to have this amount repaid automatically through their banks. This makes it easy to keep your account up to date, and gives the illusion that you're keeping on top of your card balance.

The problem lies in the size of the repayment you're making. In the early days of plastic, the minimum repayment level was generally around 5% of the balance, but over the years this has drifted inexorably downwards with 2.5% to 3% being the norm nowadays, with some cards going as low as 2%.

Why is this a problem? Surely a lower repayment amount is attractive, as your credit will cost you less each month, putting less pressure on your budget? This is true to an extent, but the problem lies in the long term. To get an idea of how bad an idea only paying the minimum is, we need to look a bit more closely at your credit card statement.

As well as showing the familiar annual interest rate, or APR, your card statement will also show the monthly rate of interest charged on your balance. A typical card might show a rate of around 1.6% a month. In simple terms, this means that each month you will be charged 1.6% of your balance in interest. Compare this to a 2% repayment, and you'll see that over three quarters of everything you pay is swallowed up in interest charges, leaving your original debt virtually untouched.

This situation is bad enough, but it gets worse when you consider that the interest rates charged on other ways of using your cards such as instant cash or overseas use can be much higher. Monthly rates for withdrawing cash, for example, can be nearly as high as the minimum repayment percentage. If you withdraw a significant amount of cash within a month, it's quite possible that the whole of your repayment can go towards interest, with your debt level not reduced at all.

So even from this quick look at repayment levels, it's plain to see that if you only make the minimum payment required on your statement, you'll be prolonging the life of your debt by many years and vastly increasing the amount of interest you'll be paying in total. How can you avoid this?

The best way is to set up automatic payment of the minimum, so that you'll be sure that every month you'll at least be staying within the terms of your credit agreement and not risking damage to your credit rating. Then, at the end of the month, make an extra payment of as much as you can afford without borrowing from another source. Even if you can't afford to pay a large amount, every little helps especially as all of it will count towards reducing your balance and not servicing interest charges.


About the Author: Michael writes for Card Sense where you can compare UK credit cards from Egg, Marbles and many more. Visit today to get a great credit card deal!




Recommended Web Site(s):

Easy Articles Home Page - Articles Directory

Recommended WhmSoft Web Sites, Feeds and WAP Address:

WhmSoft Software Home Page - Software
WhmSoft Services Login Page - Music and Images
WhmSoft Moblog Home Page - Blog - Photo Gallery
WhmSoft Free Online Games Home Page - Flash Games
WhmSoft Services RSS Feed - Daily Music, Image and 3D Flash Animation
Classical Music with Drum RSS Feed - MIDI and MP3 Files
Classical Music with Drum Podcast Feed - MP3 and MP3 Files
WAP / I-Mode / PDAs - Daily Music, Image and Flash Animation

Home Pages:

WhmSoft Free Articles for Reprint Home Page
WhmSoft Services Home Page - Music and Images
Copyright (C) 2006-2017 WhmSoft - All Rights Reserved.