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Be Careful With Credit Cards
Credit Card Companies target small business owners as these companies know that such a segment is always in need of money either to strut up or for regular running. Never make the mistake of piling up debts on your card and to reach a level of not having the capacity to pay even for minimum payments each month. As per consumer Federation of America, by the year end, banks will mail 3.2 billion offers to potential card customers. Don’t feel happy, the normal invitation says that you have been pre approved for a specified amount of loan at an introductory interest rate. And this interest jumps after couple of months, leaving you in a huge debt crisis. You should take a low interest rate card with the offer of transferring old debts. The moment this rate is going up, switch to another card or you can get an offer from another card and then you can negotiate with your present card holder. Pay your card on time. Even a day’s delay in payment, can cost you a lot. Creditlovers.com Reports:
While a barrage of credit-card offers can drive you deeper into debt, says Detweiler, it can also be used as a tool to reduce card balances systematically so you can get out of debt. It's called "card surfing," and it works along these lines:
Read More: It Pays To Be Careful With Credit Cards
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