Consolidating your credit cards
Consolidating your credit cards - of 8 simple rules for dating my teenage daughter
If you miss the minimum repayment, you could be charged late payment fees.
This is important, because your score is often used by lenders to help decide whether to approve you for new credit cards, personal loans and home loans.Finder.com’s free service makes comparing credit cards simple.To help you find the best credit card for you, we’ve organized our comparison by card type, card features, and card provider.For example, your Equifax Score is a number between 300 and 850.The higher your number is, the better your credit position is.If you decide to transfer your debt from one card to another — maybe another card offers a better APR — you’ll also accrue a balance transfer interest rate, which is usually the same as either the interest rate or cash advance rate.
Some cards do offer 0% promotional periods on purchases and balance transfers, so this is something to keep in mind during your comparison.If you pay your entire balance in full, you can usually take advantage of up to 55 interest-free days in the next statement period.If you don’t pay your entire balance in full, the remainder will start to collect interest.Based on your perceived ability to make repayments, credit card companies assign a credit limit, which is the maximum amount of money you can borrow.Unlike a debit card that uses your own money to make purchases, when you use a credit card, it is the lender who pays the retailer.Depending on the card, the length of the low interest period may vary from an introductory period to the life of the card.