Make Wise Use of Credits Cards
Many today in Network Marketing make use of credit cards for product purchases and running the operating expanses of the home based business. Here are some suggestions in using credits cards that will benefit you:
Interest rate offer
If you are going to use credit cards for your business opportunity, consider the interest rate carefully and what the rate is applied to. Your actual rate for new purchases could be considerable!
These cards probably charge higher interest rates. If you normally carry a balance, look elsewhere. Typical credit cards have interest rates between 11.99% and 29.99% in the U.S. and Canada, depending largely upon the bank’s risk evaluation methods and the borrower’s credit history.
Fight back by consolidating your cards
The tendency to use multiple cards when in business is tempting. However, transferring outstanding balances on many cards to a few lower interest cards can save thousands of dollars. Get rid of the old cards, because of the temptation to use them again.
Using grace periods
Look for cards that only charge interest 25 to 30 days after your purchase is posted. Then if you normally pay your entire balance, you won’t be paying any interest. This too will save you money.
Request that the annual fee be waived. This tactic really works. Give it a try!
Consider this: IDENTITY THEFT
What is it? Identity theft involves illegally obtaining and using information about someone else’s personal identity in order to commit fraud, or some other crime.
How does it affect people?
Thieves may use your identity to obtain credit cards or loans or to open new accounts. Then they rack up debts in your name! Even if you eventually get the debts canceled, your financial reputation may remain tarnished for years. “Having a zero credit rating affects everything—it’s even worse than having money taken,” says a victim.
What can you do?
- Protect sensitive information.
When you bank or shop online in your business, change your passwords regularly, especially if you have used a public computer. Be highly suspicious of e-mails requesting sensitive personal information. Identity thieves do not use computers only. They try any means they can to get their hands on important documents, such as bank statements, checkbooks, credit cards, and social security numbers. So keep these things safe, and shred all sensitive documents before discarding them. Of course, if you suspect that a document has been lost or stolen, report this immediately.
- Keep track of your accounts.
“Awareness is an effective weapon against . . . identity theft,” states the Federal Trade Commerce, adding: “Early detection of a potential identity theft can make a big difference.” So check your accounts regularly, and look out for unusual transactions.
Of course, in today’s world there are no guarantees. Even the most cautious individuals have become victims of crime.