No Late Fee Credit Card Offers

[kat2220]

Smart newws from Scambusters




New Credit Card Pitches: Be Wary
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Several credit card companies are now offering credit cards
with a new twist: no $39 late fees if you make late payments.

This may sound interesting -- after all, who wants to waste
money on late fees? However, the catch is that late payments
can trigger an increase in your interest rate. For example,
American Express' Clear card will currently increase the
interest rate to 28.74% if the cardholder makes two late
payments in a year.

Further, late payments may well still lead to a negative credit
report, and these reports often cause other lenders to boost
interest rates on other outstanding loans.

Action: Pay your credit cards on time (or early). If you must
make a late payment, call to let your lender know in advance
and explain the reason why.

 

[RaceChick]

Just be smart folks. If you can't afford to pay for something don't buy it. Credit cards are like a debilitating illness. They will catch up to you and leave you on your butt, broke and scrambling to make that minimum payment.

 

[kat2220]

I have 4 credit cards, but use them ONLY if I can afford to pay at least 1/2 when I receive the 1st bill.
I use my SECURE, prepaid debit card when I don't have the cash.

 

[RaceChick]

Credit Card are great if you are smart about it, which it sound like you are kat2220. I'll tell you a horror story since it is almost Halloween. About 6 months ago I was mugged in broad day light in front of a busy store. My pures was stolen all my cash and about 8 credit cards as well as my checkbook and debit card. Can you imagine the fun those criminals had at my expense? Fortunately I was able to get all the charges the criminal put on my card taken off. Do you know credit card companies charge you $10 to get a copy of a forged receipt. They don't care one bit about prosecuting the one who forged the signature. It is your responsibility to prosecute. Anyhow, I had one card in particular that had a balance under $80. I had sent my check into this so called company on 4/02/05. They never sent the check into my bank to be processed until 4/18/05 (ironically, the day I was robbed). Naturally I had my checking account closed and reopened with a new account number. Since that company has the policy of only sending a check in once to try and process it (which the bank told me they can not do that), the check was returned as account closed. My bill jumped to $147. It took me 4 months to get this straightened out and once I did I told that credit card company exactly where they could stick their plastic. So you can see why I am no longer a fan of credit cards