CC issuers have aldaery done the analysis and have come up with a solution that is in THEIR best interest, not yours.Example: A $1,000 CC balance to be paid off in one year. The issuer may offer you a 9% rate with a $50 annual fee or an 18% rate with no annual fee. They will both cost you about $100 for the entire year. The 9%/$50 will cost you $49 interest + $50 annual fee. The 18%/$0 will cost you about $100 interest + $0 annual fee. The CC issuer is hoping you will charge more than the $1000.Let's take $2,000 and the same interest rates and annual fee above. The 9%/$50 card will cost you a total of about $150 for the year while the 18% card will cost you about $200 for the year.Let's take $500 and the same interest rates and annual fee above. The 9%/$50 card will cost you a total of about $75 for the year while the 18% card will cost you about $50.It looks like if you carry high balances, the annual fee is a cheaper option while low balances are more expensive.So, you can see that it depends upon how much balance you will carry and the interest rate and the amount of the annual fee and how long you carry the balance. If you are not making enough money for the CC issuer, you can count on your interest rate to increase on your new purchases with the intent to cost you more money. Which ever card you choose, you'll be locked into that agreement. You won't be able to swap between the interest rate and fee programs. In any case, credit cards are an expensive debt close to payday loan company debts.
I have been in business for over 19 years. Harbortouch is the worst they promise you that there will be no annual fee yet that's exactly what the do charge you $79. The month before my 3 yr contract was up they promised me there would be no annual fee, guess what today I received a bill for the $79 annual fee. They have no record of waiving it and they don't care. So now because I have used their lieing services they locked me into another 2 year contract and a $840 terminationfee to cancel it. They must be dishonest from the top all the way down to their phone agents. Warning stay away learn from my mistake. Be smart. Harbortouch Rip-off is what their name should be.
Richard Anway Reviews
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CC issuers have aldaery done the analysis and have come up with a solution that is in THEIR best interest, not yours.Example: A $1,000 CC balance to be paid off in one year. The issuer may offer you a 9% rate with a $50 annual fee or an 18% rate with no annual fee. They will both cost you about $100 for the entire year. The 9%/$50 will cost you $49 interest + $50 annual fee. The 18%/$0 will cost you about $100 interest + $0 annual fee. The CC issuer is hoping you will charge more than the $1000.Let's take $2,000 and the same interest rates and annual fee above. The 9%/$50 card will cost you a total of about $150 for the year while the 18% card will cost you about $200 for the year.Let's take $500 and the same interest rates and annual fee above. The 9%/$50 card will cost you a total of about $75 for the year while the 18% card will cost you about $50.It looks like if you carry high balances, the annual fee is a cheaper option while low balances are more expensive.So, you can see that it depends upon how much balance you will carry and the interest rate and the amount of the annual fee and how long you carry the balance. If you are not making enough money for the CC issuer, you can count on your interest rate to increase on your new purchases with the intent to cost you more money. Which ever card you choose, you'll be locked into that agreement. You won't be able to swap between the interest rate and fee programs. In any case, credit cards are an expensive debt close to payday loan company debts.
I have been in business for over 19 years. Harbortouch is the worst they promise you that there will be no annual fee yet that's exactly what the do charge you $79. The month before my 3 yr contract was up they promised me there would be no annual fee, guess what today I received a bill for the $79 annual fee. They have no record of waiving it and they don't care. So now because I have used their lieing services they locked me into another 2 year contract and a $840 terminationfee to cancel it. They must be dishonest from the top all the way down to their phone agents. Warning stay away learn from my mistake. Be smart. Harbortouch Rip-off is what their name should be.