Shop around for credit card deals
This is not exactly a bold prediction: You probably will add to your credit card debt this holiday season.
Judging by Federal Reserve estimates, households today spend 20 percent more on debt repayment than a decade ago. That includes credit cards, loans and mortgages.
It's more important than ever to understand this ever-growing issue--and to figure out if you can work with your credit cards or if they're working against you.
Consider these facts:
-- Opening accounts at the cash register can hurt.
Sure, you receive the 10 percent discount. But you may be paying a higher interest rate down the line than you could have found by shopping around for credit. "Shoppers often don't ask about the terms," said Lucy Duni, director of consumer education for TrueCredit.com, a unit of the credit bureau TransUnion.
Judging by Federal Reserve estimates, households today spend 20 percent more on debt repayment than a decade ago. That includes credit cards, loans and mortgages.
It's more important than ever to understand this ever-growing issue--and to figure out if you can work with your credit cards or if they're working against you.
Consider these facts:
-- Opening accounts at the cash register can hurt.
Sure, you receive the 10 percent discount. But you may be paying a higher interest rate down the line than you could have found by shopping around for credit. "Shoppers often don't ask about the terms," said Lucy Duni, director of consumer education for TrueCredit.com, a unit of the credit bureau TransUnion.
Read more at: Shop around for credit card deals
posted by e-borneo.com @ 5:09 PM
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