© 2015 Kebba Buckley Button. World Rights Reserved.
As a stress management expert, I am completely committed to helping you realize the sources of your stress and BEAT THEM for once and for all. I want you to enjoy life much more, by making a few changes, feeling much more satisfaction and far less stress. Are you in?
Today we’re attacking the stress caused by credit cards: risks and rewards. The main thing to remember is that a credit card is way to get an instant loan. The credit card account is not money! It is the ability to have more debt! To finance something, like new living room flooring or a major car repair, you may want to float yourself a loan from a credit card. But using them for normal expenses is…going into debt, which causes more stress!
A credit account is not money! It’s the ability to get an instant loan, to have more debt!
~ Kebba Buckley Button
Do you think you know your biggest risk in using credit cards? We all need to pay closer attention than ever. Thirty years ago, you only had to worry about having the lowest rate, making your payments on time, and keeping track of your wallet. But life has changed, right?
- Get the lowest Annual Percentage Rate, or APR (interest rate), you can. The better your credit score, the lower the rates you’ll be offered. Ignore points and cash-back arrangements! They are designed to keep you spending, which will keep you in stress. You are better off with a lower rate overall.
- Make a list of all your credit cards and their APRs. ALL their APRs. For each card, list the APR for transfer amounts, for cash withdrawn, and for charged purchases. Can’t find your APRs? Look at the last page of your most recent statement, or online, click on the name of your account. Now use only the credit cards with the lowest APRs, and pay them off as fast as possible. You are paying for the use of the bank’s money.
- Watch for updated Terms of Service. You think you got a certain card at a particular rate, right? No! All the bank has to do is issue new Terms of Service, with new requirements and higher rates. One year, I received TWO new cards for existing Visa accounts, now at higher APRs, and now with rewards systems. You can refuse the new TOS by writing to the bank and stopping using the card. Then update your chart, and pay off that card with regular and timely payments.
- Watch your “due date”. You think you know your due date? Look out! Now payments often must be made by the morning of the “due date”, due to cutoffs as early as 3 pm EST. Payments with a Saturday, Sunday or holiday “due date” can be considered late, even if paid in cash at a branch office, if not paid by the morning of the weekday prior, since Saturday may not be a “business day”. “Late” payments actually made on the due date or prior may be reported to credit scoring agencies and reduce the customer’s credit score. At one time, weekend “due dates” defaulted to the following business day. Now due dates that are on nonbusiness days are not true due dates, but “late” dates.
- Watch where your card goes and read the slip before signing. Think you know how to safely use your card? In restaurants, your biggest credit card concern was simply making sure to get the card back after the transaction. Today, you have to be sure the credit card never leaves your line of sight! The card number and code may be hand copied or swiped through a cloning device as small as a modest sandwich, even magnetically cloned from feet away. Also, credit card processing companies have self-serving policies to help them hold funds. When a charge is run, the restaurant doesn’t get the funds for 3 to 5 days. One week, a waiter charged my entire group’s dinner to my card! It took seconds for the charge to go through and a week for the correction to be credited.
- For a free report with more tips on Beating Credit Card Stress, email me at firstname.lastname@example.org, with Credit in the subject line.
Your goal should be to pay off your credit card bills in full at the end of each moth and set aside money toward our emergency savings.
~ Suze Orman
So how should you handle all this credit card stress? By living well and wisely. Especially if some or all of these facts make you angry, remember, “living well is the best revenge.” Pay off those cards. Get the total satisfaction of knowing you are doing the best for yourself. Now, smile whenever you think of it. That’s what I call UpBeat Living!
Energy – Peace – Meditation
- Kebba Buckley Button is a stress management expert. She also has a natural healing practice and is an ordained minister. She is the author of the award-winning book, Discover The Secret Energized You (http://tinyurl.com/b44v3br), plus the 2013 book, Peace Within: Your Peaceful Inner Core, Second Edition(http://tinyurl.com/mqg3uvc ). Her newest book is Sacred Meditation: Embracing the Divine, available through her office. Just email SacredMeditation@kebba.com.
- For an appointment or to ask Kebba to speak for your group: email@example.com .