Are You Really Ready For a Credit Card?
This is a guest post from Mr. Credit Card of www.askmrcreditcard.com.
Credit cards are seen as an essential method of payment for the majority of Americans. Unfortunately, credit cards are not for everybody. There are two groups of people who do not possess a credit card, but probably should some day. The big question is: When do you know when you are ready for a credit card? Let’s take a look.
Credit Cards and Young Adults
As teenagers mature into young adults, managing their finances responsibly is a major achievement. Ideally, the process of understanding money and credit cards should begin at a very young age.
Free Web Traffic
What does every online marketer want? Simple – free web traffic! In the evolution of online marketing to date, that has meant learning to satisfy one gigantic customer – Google. If your website pleases Google and fits in with their estimation of what a “relevant” website is for a particular keyword, they will (grudgingly it seems at times!) deliver free web traffic for your site.
Check the image below: This is just one brief experiment in getting free web traffic. Think a second – what would you have to pay Google in Adwords clicks to get 1,320 visitors? $650? $ 1,320? $ 2.640?
Review: BillFloat – Can’t Pay Your Bills? They Have you Covered (For A Fee)
It’s the 1st of the month and time to pay the bills. After unexpected medical bills or some other financial emergency bungled your budget earlier this month, you realize there’s a bill or two your funds can’t cover. What do you do? You float it.
BillFloat, founded in 2009 and incubated by PayPal, has a simple, fresh solution to an old problem—what to do when you can’t pay the bills.
Instead of turning to Mom and Dad, friends, expensive payday loans, high-interest bank loans, or skipping payment altogether and risking the consequences (penalties, credit damage, getting services terminated), BillFloat pays your bill for a fee as low as $4.99 and you pay them back within 30 days. Plus, the
Hoenig critical of the Fed’s zero rate policy, says rates should be hiked up
Thomas Hoenig, president of the Federal Reserve Bank of Kansas City, in his remarks seemed critical about the current zero percent rate of the Federal Reserve (link to ). He says that it should be hiked from 0% to 1% and then moving to 2% gradually. This is needed or else it will leave a policy that will only result in financial imbalances in future. He is quoted saying “We need to get off the emergency rate of zero, move rates up slowly and deliberately.”
Recently, the Fed has decided to support the economy by maintaining the size of its balance sheet without allowing it to shrink. The Fed will do this by reinvesting into the Treasury, as well as the proceeds of its mortgage holdings. But
Tougher punishment for late payers
Credit card borrowers who miss a monthly repayment are facing increasingly harsh penalties.
Borrowers are being lured into 0% deals on credit cards, with some lenders offering no interest for 16 months.
But if borrowers miss one payment by a few days they may forfeit the entire 0% deal and see their credit limit drastically reduced, experts warn.
While this has always been a common practice, evidence suggests banks are getting tougher.
Credit card providers already charge a £12 penalty fee for late payments.