Reduce Credit Card

Consumers have more power than they understand. When gas prices were $3.50 plus per gallon the resulting reduction in consumption helped to reduce prices. The only pressure banks will respond to will come from loss of revenue. What would happen if credit card purchases fall between 25% and 50%? My guess would be lower rates to increase usage.

Because most people who have credit cards are not in a financial position to just stop using them.

Edit @ Stephen: The banks and credit card companies do make money off every purchase. The merchant has to pay a merchant fee for every transaction (normally between 1 - 6% depending on the contract). This is why smaller shops, like a quick mart, won't take a debit/credit card for any purchase under $5. They would lose money on the sale otherwise.

2009-04-28 07:16:36 by Nick

Out of sight TRUTHS Concerning THE CREDIT CARD INDUSTRY! 1) Ever heard of the illustration that the house for eternity wins? The credit card ...

What is the best way to reduce credit card debt without getting a loan?

there is this really cool website called Powerpay. It shows you how to pay on your cards the most effective way. Like getting rid of all the smaller debts first or paying of the higher interest rate cards. Check it out it is pretty neat!

2009-06-02 12:10:02 by S.C. Mike

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I want to maximize the payoff of credit card debt. I can't find the article but I read somewhere that the 14th and last business day of the month were the "magic dates" to reduce credit card interest and debt.

Not true.

If you want to maximize your score you want to focus on the date your credit card companies report to the bureaus.

Most people think paying your bills on time, or the day they get their bill is good; its not. Credit Card companies report to the bureaus first, then mail your bill.

What this does is always shows your cards with balances because the report date is right before you actually make your payment.

Make sure your payments are always in before the reporting date

2008-03-13 19:19:01 by Rebe

I want to find out how do I reduce credit card interest as well as outstanding. Every month I pay such a high interest fee, even I pay the minimum amount but seems like this is a never ending process, my debt isn't reduce and I want know anyone know how to reduce the interest.

Btw, I am from Malaysia and I am looking for proven and working method in Malaysia.

Thanks,
NLB

You got to look for a way to consolidate your debt into a lower interest and offer flexible installment period and amount. I know there is one website provide the how-to overview for this method. Find out more at: http://MyCreditCardSolution.com/.

This site offers a very easy and effective way to restructure your credit card debt. You would also get to know how to save thousand of credit card interest.

It also provide a FREE Download Chapters for you to understand how it's works.

2008-05-22 07:47:14 by PayDay

I'm in process of starting an organization to help middle class families get out from under their large amount of credit card debt instead of waiting for the government to help or credit card companies to help. Would you be willing to make a donation to selected families in the PayitForward method to help reduce the large amount of credit card debt?

Our prez elect will help them in Jan or Feb?

2008-12-15 10:17:06 by TReilly73