Welcome to Home Mortgage
Home Mortgage Loan Quote Article
. For a permanent link to this article, or to bookmark it for further reading, click here.
You may also listen to this article by using the following controls.
Why Credit Cards are a Bad Idea
from: Randy G. Hutchings
When you shop on the Internet or over the phone, it’s the only good way to do it – what else are you going to do, post a cheque? Like anything convenient, though, credit cards have a flip side – in fact, they have lots.
Can You Keep Track?
When you walk into that shop and hand over the card, the money is taken from the card, and the card goes back into your wallet. You still have all the things you started with – there’s no less money in your purse or wallet to remind you of what you’ve spent.
Everyone has a tendency to underestimate what they spend, and smaller amounts can add up quickly on a credit card without you even noticing. It’s like taking the way phone bills work and applying it to everything you buy – and that can’t be a good idea.
Money For Nothing.
Using credit cards is a great way of losing a percentage of your income to a credit card company in exchange for nothing. The moment you run a balance, you’re paying them interest. Not only that, but you’re paying your credit card bill as soon as you get your wages, so you don’t have the chance to earn any interest on them from your bank. When you think about it, you’re losing out twice over – and for what?
Designed to Keep You in Debt.
Your credit cards are trying to keep you using them and paying interest. You will find it very difficult to pay off all your credit cards once you have them. The company will do everything they can to stop you paying before you’ve paid them lots of interest. The more debt you show you can pay back, the more they’ll try to offer you, until they get you to the point where you can’t pay.
The Lie in the Name.
Credit cards are called credit cards to avoid saying what they really are: debt! You will do much better in all things connected to credit cards if you always remember this simple mantra: credit cards are debt cards. Use the word debt as often as you can whenever you talk about credit cards.
But Sometimes You Can’t Avoid Them.
When you need money in an emergency and you just don’t have any, there’s no doubting that credit cards can be useful. They are also a very useful way of proving to credit rating agencies that you can handle debt, and this will be taken into consideration when you apply for car loans or a mortgage.
Just remember that whenever you handle credit cards, you’re playing with fire. Do everything you can to keep your use of them to a minimum, and you’ll have a much better financial life.
About The Author
Randy G. Hutchings
Know the Truth about Credit Repair and NOT the HYPE! Finally the Truth is Told at the Online Mortgage and Credit Repair Resource!
(c) Randy G. Hutchings - All Rights reserved
http://www.Home-Mortgage-Refinance-4u.com
Home Mortgage Loan Quote News
Zillow Launches Zillow Mortgage Marketplace Android App
SEATTLE, Feb. 8, 2012 /PRNewswire/ -- Zillow® (NASDAQ:Z - News), the leading real estate information marketplace, today announced the launch of the free Zillow Mortgage Marketplace Android™ App giving home shoppers ...
Read more...Fed Sells $6.2 Billion of Bonds From AIG Rescue to Goldman
The Federal Reserve Bank of New York sold $6.2 billion in face value of mortgage bonds it assumed in the rescue of American International Group Inc. to Goldman Sachs Group Inc., allowing one of its bailout loans to be repaid.
Read more...Loans.org: Mortgage Rates Hit Low but Industrial Numbers Should Raise Red Flag
Despite mortgage loan rates hitting record lows for the eighth time in a year, slow industrial construction fails to meet market forecasts—telling of a continuously poor job market, according to Loans.org.Los Angeles, CA (PRWEB) January 24, 2012 Freddie Mac reported that the average 30-year fixed home loan interest rate fell to a new record low on Thursday, settling at 3.88 percent. However ...
Read more...Loans.org Accredited by the Better Business Bureau with an A+ Rating
In order to further establish credibility, Loans.org made an appeal to the Better Business Bureau. The loan quote site is now accredited with an A+ rating.Los Angeles, CA (PRWEB) February 08, 2012 Loans.org, the nationwide loan quote gathering hub, is proud to announce it is now accredited by the Better Business Bureau (BBB). While Loans.org focuses on educating the consumer and granting the ...
Read more...Shop for title insurance and closing services
If you have already been shopping for a real estate agent, a lender, a home and a moving company, you may be feeling shopped out. Before you put your feet up and relax, you should take the time to shop ...
Read more...Remembering that a house is a home; finding cheap insurance
These days, you should look at a home as an investment in happiness, not as something that will raise your net worth.
Read more...Big Banks, 49 States Reach $25 Billion Deal Over Foreclosure Abuses
Watch Video | Listen to the Audio RAY SUAREZ: After long months of negotiating, 49 states joined an agreement today over foreclosure abuses. U.S. Attorney General Eric Holder announced the deal in Washington. ATTORNEY GENERAL ERIC HOLDER: It is the largest joint federal-state civil settlement in the history of this nation. RAY SUAREZ: The news came even as foreclosed homes still litter the ...
Read more...