{"id":4602,"date":"2008-09-08T10:53:49","date_gmt":"2008-09-08T15:53:49","guid":{"rendered":"http:\/\/magic1host.com\/blog\/2008\/09\/08\/credit-cards-can-save-you-hundreds-of-dollars-heres-how\/"},"modified":"2008-09-08T10:53:49","modified_gmt":"2008-09-08T15:53:49","slug":"credit-cards-can-save-you-hundreds-of-dollars-heres-how","status":"publish","type":"post","link":"https:\/\/magic1host.com\/blog\/?p=4602","title":{"rendered":"Credit Cards Can Save You Hundreds of Dollars – Here’s How"},"content":{"rendered":"
by Ken Paulita<\/div>\n

If you’re like me you probably have a number of credit<\/a> cards in your wallet – two or three at least. (Most Americans have more than that – read on.) When is the last time that you really took a look at the credit cards that you have? Are they working for you, or are you paying more interest than you have to? Are they tools that simplify your spending habits, or are they sapping hundreds of dollars from your budget needlessly? Check out these credit factoids – you may be surprised:<\/p>\n

1) Today’s average consumer has 13 credit obligations that the credit bureaus have on file. Nine of those are credit cards of some type – department store cards, Visa, gas cards. Four of those credit obligations are likely to be installment loans of some type.<\/p>\n

2) The average consumer’s oldest credit obligation is fourteen years old! This is an indication that he or she has been managing a credit obligation for a long time. Only five percent of consumers have credit histories shorter than two years.<\/p>\n

3) Average credit card debt among indebted young adults increased by 55 percent between 1992 and 2001, to $4,088. This is an indication that the growth of debt among young Americans is currently experiencing explosive growth. The average credit card indebted young adult now spends nearly 24 percent of their income on debt payment. That’s 4% more than the young adults did in 1992.<\/p>\n

4) Approximately 75% of US families surveyed in 2004 had credit cards, and of that group 58% of them carried balances. The average American with a credit file is responsible for $16,635 in debt, excluding mortgages.<\/p>\n

5) One in six families that have credit cards pays only the minimum balance due each month. 28% of all families who were surveyed also indicated that it is more difficult now than ever to pay off their debt.<\/p>\n

The statistics presented above are taken from The Federal Reserve Bulletin, US News<\/a> and World Report and from Experion, a credit bureau – all very reputable sources. These are very startling figures! Many of us are carrying outstanding balances on our credit cards and this can get expensive. There is a good chance that you as an individual are not taking advantage of some of the opportunities that exist to optimize that debt. It’s a very simple thing to do so in many cases, it can be done on-line and if your situation is similar to the average, it could save you hundreds or even thousands<\/i> of dollars!<\/p>\n

One of the easiest ways to optimize outstanding credit card debt is to use 0% Balance Transfer Credit Cards<\/b>. By applying for a new credit card that offers 0% balance transfers you can take all of the outstanding credit card debt that you have and lump it into and interest-free loan – this is a great deal and can save you a ton of money over time! Let me give you an example: you stand to pay $14 per year for every $100 of outstanding debt on your credit card at an interest rate of 14% (and many credit cards charge much higher interest rates). If you have $1000 outstanding, that’s $140. More? Well, you get the picture: bu moving that same debt into and 0% interest position you stand to save a lot of money.<\/p>\n

It’s easy to apply for a 0% balance transfer credit card – application can be completed on-line and the approval rate is high (applicants usually already have credit products and hence sufficient credit for approval). Get into the habit of shopping for 0% credit every 12 to 15 months so that you can roll any outstanding balance into an interest-free position. Given the current financial climate we all need to find ways to save the money that we earn. Zero percent balance transfer credit cards are a free and easy way to do just that.<\/p>\n

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About the Author:<\/div>\n
Shopping for zero percent balance transfer<\/a> credit cards is easy on our site. You can also brows some of the other credit card<\/a> products offered there, including incredibly low interest, cash back and rewards credit cards.<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

If you’re like me you probably have a number of credit cards in your wallet – two or three at least. (Most Americans have more than that – read on.) When is the last time that you really took a look at the credit cards that you have? Are they working for you, or are you paying more interest than you have to? Are they tools that simplify your spending habits, or are they sapping hundreds of dollars from your budget needlessly? Check out these credit factoids – you may be surprised:<\/p>\n","protected":false},"author":1642,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[77],"class_list":["post-4602","post","type-post","status-publish","format-standard","hentry","category-business","tag-business"],"_links":{"self":[{"href":"https:\/\/magic1host.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/4602","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/magic1host.com\/blog\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/magic1host.com\/blog\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/magic1host.com\/blog\/index.php?rest_route=\/wp\/v2\/users\/1642"}],"replies":[{"embeddable":true,"href":"https:\/\/magic1host.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4602"}],"version-history":[{"count":0,"href":"https:\/\/magic1host.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/4602\/revisions"}],"wp:attachment":[{"href":"https:\/\/magic1host.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4602"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/magic1host.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4602"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/magic1host.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4602"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}