Our major debt ration that seems unbearable stems from the credit card. Most people no longer use in store charge accounts as often as they do one of the major credit cards for instance Visa, Master Card, Discovery etc. The reason most stores have found that it is too costly to operate in a credit balance and with the use of a credit card purchase they are paid upfront putting more income in the bottom line. Now the consumer needs to be able to know how to use the credit card and not come out the loser in the long run but a winner in his own credit war.
Your credit card used wisely can become one of your most powerful financial tools that help you to grow in abundance. Then again if you mishandle the way you use your credit card you can drain your money causing a family crisis. You need to learn the technique of borrowing smart that is getting your charged items on a credit card that is offering you the 0% APR. When you pay your bills on time credit card companies will offer you a credit card with 0% APR and you should take advantage of these opportunities in order to keep the money you borrowed as free money. You need to read the small print because many of these companies put in the small print that your interest rate will increase to 24% after one year or if you make a late payment. You need to pay special attention to the small print and make sure that you comply with the stipulations of that particular credit card.
Whenever you receive those special opportunities of 0% APR for a credit card and you know that your other credit card is running into the time frame of having the APR being applied then it is time to get a new card and pay off the old card. You are a wise shopper when you keep up with the APR time frame on your card. Many people are unaware of what the APR stands for and pay it little to no attention. APR stands for “Annual Percentage Rate” which is what you need to be aware of in order to compare with other credit loan offers. APR does not apply to 0% loans because it is zero. When you play the credit card game to win then you work to use only 0% APR credit cards.