Skip to main content

Get Freedom From Your Debt Sooner With A Credit Card For No Credit

Even when you have a credit card with low interest in your pocket, it is better to just keep your sanity intact and be in control if you really want to improve your finances. You shouldn’t have to be reminded what got you here in the first place. So if you are thinking of splurging, hold that thought and try to recall for what you got your credit card for no credit to begin with. These are there to help you out and guide you to achieve a better financial position. 


Don’t Refrain From Paying More Than Just The Minimum

Whenever you make your monthly credit card payments, you come across a set minimum amount that you can pay. This is just there so you can avoid late fees and that prevents you from losing your incentives. Now, the right way to go about it is to use this facility for the month where you feel you are heading towards tighter days. When you are on a limited budget, you should aim for just the minimum but it is never a wise idea to stretch that over a long period of time. This means you will take a longer time to pay off your balance. Also when you do this, you end up paying much more in interest as well and so that just defeats the entire purpose of owning credit cards with low interest. This is a very expensive way of repaying your loan. 


Have You Ever Thought Of Setting Up A Direct Debit?

It happens with a lot of us that we completely forget to pay off our balance every month. You don’t want that. In this case it will be very helpful to just set up a direct debit on your account. This way you don’t have to pay off the minimum amount manually. You can automate it and may even choose an amount slightly higher than the minimum like we discussed above. This way you have met the minimum and also know that eventually the interest amount you have to pay is not going to be too much. You can gradually increase the amount further so you can have freedom from your debt sooner.

Comments

Popular posts from this blog

Is It Even Possible To Get Credit Cards For Bad Credit?

Do they do you any good? Is it even possible to rebuild your credit with just a credit card? A lot of people around us don’t really have a positive credit history. While this might be an essential aspect of your financial soundness, if you don’t have anything to show for it, the credit lender will have no idea how you pay your bills or if you do it at all.  How can you possibly build a strong credit history when nobody is willing to give you credit in the first place? Do credit cards for bad credit help you do that? What is the reason for you to improve your credit score? The biggest reason for having a good credit score is that you might eventually need a loan for something in your life. It is for this eventuality and the following: Student Loan If you are looking to pay for the basic tuition fee of your child or for their textbooks and/or a laptop, or room and board, you need credit. You know how college is a huge investment and it is quite clear that many students would require a loan…

How Easy It Is To Get Into Debt!

When Repaying Your Debt Is Hard
Are you sinking into overwhelming debt? It is extremely simple to let that happen. As a beginner cardholder, you start out with a very low credit card limit. But as time passes by it typically rises. This is what makes overcharging all the more lucrative. This makes paying down debt even more difficult because of the rising balance, the compounding interest and increase in your payments.



We All Know That Debts Affect Our Credit Score But How? 
Shouldn’t it be the reason for financial institutions to go easy on us? They should understand that we are going through a financial crisis and that we are honest, hardworking beings who are going to repay their money sooner or later with the interest. Well, this might be true but sadly it is not how the world functions. Your credit score is very important and yet easily affected by your debt. Owning a Mastercard credit cardor a no interest rate credit card might prove to be useful in getting out of debt but it is …