What is Credit Cards payment ?
An aggregator of credit card information, with individual sections profiling different types of cards, from ones that specialize in Rewards Points, to others that cater to customers with fair or poor credit profiles. While there are a number of sites like this on the internet, all of which works as some sort of affiliate for the credit card offers they promote, Credit Cards.com is the one we find to have the most comprehensive information displayed about each card and each offer program. Similarly, we find it to be the most well designed and user-friendly of the credit card information aggregator websites. To be clear, however, the suggestion of Credit Cards.com as a resource is less about the website, then the product it helps promote.
Why We Like Credit Cards ?
To be clear, the intelligent and responsible utilization of credit cards to help achieve your land buying goals is what we like, not the accumulation of debt. As most every card on the market offers some sort of 0% APR on Purchases or Balance Transfers for the first 12 months 16 months or even 18 months in the life of the card, it's very easy, and ultimately more affordable, to simply apply for one of these cards and space out the payment off of the property over the duration of that 0% APR period. Furthermore, if you believe it will take you longer to pay off the balance, simply wait until the 0% APR period is ready to sunset, then apply for another card and transfer the balance. If done intelligently, you can go the entire life of the loan never having to pay more than nominal Balance Transfer Fees.
Have We Used Credit Cards ?
In the life of any entrepreneur, much less those who have created two successful real estate companies, the importance of start up capital, whether it be in the form of bank loans or credit cards, can never be underestimated or over exaggerated. Yes, we have. Many times. But always responsibly.
Drawbacks :
Credit card companies offer these 0% APR periods on Purchases and Balance Transfers, and are able to not only stay in business but thrive, because they know from experience that most people will default on one or more of the terms dictated in the initial agreement, and hence, needlessly subject themselves to some inflated 20%+ rate when they do invariably default. It's important to keep in mind that if you do choose to utilize one of these 0% APR offers.
1) You will find out the monthly payment due date.
2) Always pay at least the minimum on or before that date.
3) Don't charge anything else on the card. If you're able to be even a little disciplined about it, you can go the entire life of the loan without ever incurring any interest or fees.
Who Are Credit Cards Best Suited For ?
While most banks will issue a credit card to anyone who can fog a mirror, this source of financing is best utilized by anyone - individual or business - who can be responsible about reliably paying the monthly minimum (at least). If you have 0% APR on Purchases for 18 months, and you make a $5,000 payment in Month 1 and are financially positioned and disciplined enough to afford the $278 monthly payment it will take to eliminate that balance by Month 18, then this is the perfect resource for you. If, however, you believe it may be a struggle to even pay $100 a month during that time, or stick to a reliable payment schedule, incurring additional debt or even purchasing land may not be the best thing for you.
Learn More:
You can explore all the best credit cards offered by banks such as, Citibank , Bank of America, and Chase bank , others when you visit CreditCards.com website.
