Comments on: Credit Cards? http://smallbusinessmerchantaccounts.org/credit-cards.htm Mon, 13 Feb 2012 22:33:39 +0000 http://wordpress.org/?v=2.7.1 hourly 1 By: Maggie LeMasters http://smallbusinessmerchantaccounts.org/credit-cards.htm/comment-page-1#comment-1746 Maggie LeMasters Wed, 23 Dec 2009 16:07:40 +0000 http://smallbusinessmerchantaccounts.org/credit-cards.htm#comment-1746 It depends on the company and whether or not you already have a credit record established. If you are trying to establish credit it will take longer. If you have had troubles with a good credit rating it will take longer. You might try instead for DEBIT card. That would be as good a way to establish credit and it helps keep you from getting into the kind of debt a credit card can. Just a note: If you use a credit card in place of cash, and never spend more than you can pay back at that time, then a credit card can be useful. For a lot of people the temptation is to spend too much, because it's not money in front of you, but a piece of plastic. It's sooooooooooo easy to spend. But you are paying interest on what you don't pay back each month---very high interest, typically from %14.00 to %22 per cent - in that vicinity. This means that you can buy a 100 purse, say, and you pay off $20. the first month. You are paying 14% on the $80. that month. So that's $11.12 interest. Then you pay off another $20. So you are paying on $60.00. and that's $8.40. Next month you are paying on $40.00. and that's $5.60 . Next mnth $20. and that's $2.80. So in the end your $100 dollar purse has cost you about $128.00 in the end. 14% would be a low interest rate for a card. I've discovered a lot of Americans live on credit card debt, and it can sink you. You may already know this, but it seems a lot of people don't. So I just wanted to make sure you did. Maggie It depends on the company and whether or not you already have a credit record established. If you are trying to establish credit it will take longer. If you have had troubles with a good credit rating it will take longer.

You might try instead for DEBIT card. That would be as good a way to establish credit and it helps keep you from getting into the kind of debt a credit card can.

Just a note: If you use a credit card in place of cash, and never spend more than you can pay back at that time, then a credit card can be useful. For a lot of people the temptation is to spend too much, because it’s not money in front of you, but a piece of plastic. It’s sooooooooooo
easy to spend. But you are paying interest on what you don’t pay back each month—very high interest, typically from %14.00 to %22 per cent - in that vicinity.

This means that you can buy a 100 purse, say, and you pay off $20. the first month. You are paying 14% on the $80. that month. So that’s $11.12 interest. Then you pay off another $20. So you are paying on $60.00. and that’s $8.40. Next month you are paying on $40.00. and that’s $5.60 . Next mnth $20. and that’s $2.80. So in the end your $100 dollar purse has cost you about $128.00 in the end. 14% would be a low interest rate for a card.

I’ve discovered a lot of Americans live on credit card debt, and it can sink you. You may already know this, but it seems a lot of people don’t. So I just wanted to make sure you did.

Maggie

]]> By: madhu http://smallbusinessmerchantaccounts.org/credit-cards.htm/comment-page-1#comment-1747 madhu Wed, 23 Dec 2009 16:07:40 +0000 http://smallbusinessmerchantaccounts.org/credit-cards.htm#comment-1747 Find very useful info and tips on getting and managing credit cards on http://creditcardmanager.credithelperhom Find very useful info and tips on getting and managing credit cards on http://creditcardmanager.credithelperhom

]]> By: MusicMan5537 http://smallbusinessmerchantaccounts.org/credit-cards.htm/comment-page-1#comment-1748 MusicMan5537 Wed, 23 Dec 2009 16:07:40 +0000 http://smallbusinessmerchantaccounts.org/credit-cards.htm#comment-1748 She probably meant it could take UP TO three weeks. She probably meant it could take UP TO three weeks.

]]> By: SCH http://smallbusinessmerchantaccounts.org/credit-cards.htm/comment-page-1#comment-1749 SCH Wed, 23 Dec 2009 16:07:40 +0000 http://smallbusinessmerchantaccounts.org/credit-cards.htm#comment-1749 Usually you find out right away...you usually are approved right away. You probably have been declined, but they are not allowed to say "we pulled your credit score and it sucks, so we are turning you down." They legally have to pull your actuall report and review it for any adendums (ie a statement that you were the victim of fraud and that is why your score is so low) but you were most likely declined. Usually you find out right away…you usually are approved right away. You probably have been declined, but they are not allowed to say "we pulled your credit score and it sucks, so we are turning you down." They legally have to pull your actuall report and review it for any adendums (ie a statement that you were the victim of fraud and that is why your score is so low) but you were most likely declined.

]]> By: beauty s http://smallbusinessmerchantaccounts.org/credit-cards.htm/comment-page-1#comment-1750 beauty s Wed, 23 Dec 2009 16:07:40 +0000 http://smallbusinessmerchantaccounts.org/credit-cards.htm#comment-1750 Some take 5 mins to 2 weeks to see if you are approved Some take 5 mins to 2 weeks to see if you are approved

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