Low Intro APR
No Annual Fee
Cash Back
Reward Cards
VISA
Mastercard
Business Credit C.
Balance transfer
Student Credit Cards
Frequent Flyer
Gold Cards
platinum Cards

Advanta
American Express
Bank of America
Bank One
Chase Manhattan
Discover

Bankruptcy
Slow Credit
Average Credit
Excellent Credit

Credit cards + Interest = Debt

Credit cards are not the problem. It’s your buying patterns that create any problems. How do you avoid debt?

Don’t buy anything you can’t afford. Simple.

People don’t save money like we used to. We want things now. Things before we can afford them. But it actually is not too long to wait to save/have the money to buy most of the things we want. Especially if we aren’t paying compounding interest on the things we’ve already bought. If we pay once, things are so much cheaper.

If you can’t manage your credit cards – don’t pay them off every month, put them away. Use them when you need to rent a car, or something, nothing else. So basically, credit cards are for convenience – you have the money, but it isn’t in the form you want. Even better would be to use a debit card – direct relationship between cash and buying.

If you do carry a balance on a credit card, you need to include the cost of the interest in the purchase price of the things you buy. Dinner is more than just the $20 or $30 you spent while in the restaurant. The first month, isn’t much, but then you pay interest on compounding interest, and so on, until you pay off the principle and all the accumulated interest.

Also, you really need to watch ‘interest-free’ purchases. When the period is up, interest on unpaid balances is retroactive – you pay from the date you bought it. If you take advantage of this selling feature, pay monthly. Divide up the amount by the free interest time and pay regularly the total amount, before it is due.

If compounding interest is the route to creating wealth, the reverse is equally true, compounding debt can be the route to delay and ruin.

Don’t get into debt and you’ll never have to get out.

Stephanie Mundle is the managing editor of http://www.MoneyMasteryForum.com an informational forum site for the average investor. Take a look. Information on forex, debt, money management, investing and business.

Come check out the forum at http://www.MoneyMasteryForum.com/forum.html country.html

Article Source: http://EzineArticles.com/?expert=Stephanie_Mundle

Back to the Articles

Yes, low APR credit cards are on the rise. Many credit cards are competing for your business to give you the best and lowest rates available today. There are so many credit cards from you to choose from that they are doing all kinds of things to get your attention including lowering their interest rate and giving you no annual fees.

Why is this happening? Because there are so many credit card companies. They all want your business and this is an attractive incentive to get you to apply and own one of their credit cards. If you choose a low APR credit card over one with 19.99 percent you are sure to go with the lower APR.

The only problem is that sometime these 0% and low APR credit cards are only promotional ways to get you to apply and then later your interest rate will rise. Many credit card companies have low APR credit cards for a certain amount of time such as 3 months, 6 months and some up to one year. You will have to compare to find out which one keeps the lower APR after the promotional period to ensure you are getting the best deal around.

No matter what the reason low APR credit cards are here to stay as long as the companies are competing for your business. Just remember to compare everything they offer besides the lower interest rate. You may find that several credit card companies are now offering other wonderful incentives for you to apply with them such as reward programs.

No matter which company you choose, you will enjoy the low APR credit cards even if it is only for a limited time. You will be able to save money on your purchases because you will not have to pay any interest until the promotional period is over. Just be sure your balance is very low when the interest rate kicks in and you will be fine.