The Basics Of Credit Cards - Finance Credit Cards & Coupons _____________________________________________________________________________________
By Valo Jon - http://losalamospeaceproject.us/
Credit card usage is often demonised in the media because this is an attention getter. There have been many people who have damaged their credit ratings and credit history by irresponsible use of credit or just through a plain lack of understanding about how credit and credit scoring works. When is the last time you tried to rent a car or motel room, make a reservation, purchase something online or even apply for something simple like a cell phone plan without being asked for a credit card? It is very hard to function in our world without at least one credit card, and if you can use it responsibly, it will have a tremendously positive impact on your life!
What Is Finance Credit Cards & Coupons
A credit card is a plastic card issued to a line of revolving credit. The reason it is called a revolving line of credit is because your credit limit rolls over from month to month. Let's say you applied for a credit card and were accepted for an initial $1000.00 line of credit.
You use your card to pay a bill or make a purchase for $250.00 and you are sent a statement showing the $250.00 purchases after the grace period along with an "available credit" in the amount of $750.00 You could choose to pay the balance off in full or pay less than the full amount.
Let's say you paid $50.00 of your outstanding balance. Once your card issuer has received your payment, your new available credit limit will be $800.00 less your finance charge.These finance charges would be based on the Annual Interest Rate, often called the APR, of your unpaid balance.
So‌ What’s Next ? To learn more about Finance Credit Cards & Coupons, Click Here: http://losalamospeaceproject.us/