VC Finance Inc
  • Home
  • Coaching
  • Finance
  • Privacy
  • Terms
  • The Team
  • Reach Us

Things to consider before choosing a cash card

Posted on 20/08/2018 by Hazel McKnight Posted in Finance .

A cash card is very important since you can use it to make payments for all goods that you buy. However, if these cards are used improperly, they can inflict horrendous financial damage you. Therefore, when choosing a cash card company, there are things you need to consider so that you get the best financial services. Here are the things you need to consider.

Your spending habits

The first question that you need to ask yourself before you get a cash card is how you intend to use it. You have to make sure that you will be able to pay off your credit balances at the end of every month. Do you anticipate that you might be unable to settle your balance at the end of every month? Will you use your card to pay for only emergencies or almost everything?

If you can settle your credit balances at the end of every month, then you should not care about the interest rate charged on the card. The best card for you will be one with no annual fees but with a greater grace period so that you don’t get slapped with a finance charge.

Credit limit

This is the maximum amount of money your cash card company is willing to lend you. Your credit history will determine it. You should go for a cash card that offers reasonable credit limit.

Fees and penalties

Cash card companies can slap you with penalties if you go over your credit limit or if you fail to pay your balances in time. When choosing a cash card, you should go for a card that charges reasonable fees. You can go for a card that has no transaction fees and has zero interest rates of the first 12 months.

Incentives

Most cash card companies usually have reward programs to their customers. This is aimed to induce you to use the card. Ensure that your card does not charge extra for the reward programs that it offers. The rewards offered should be redeemable.

Balance computation method

How your lender will charge your balance to come up with the finance charge is very important. Most cash card companies compute the finance charge through average daily balance. You should avoid cash card companies that compute their balances in two billing cycles. This is because when you are charged in two billing cycles, the financing fees is higher as compared to when you are just charged in one.

 

Tags: card, cash, cash card .
« Benefits Of A Mortgage
Why You Need to Hire a Consultant Service »



Posts

  • Basic Accounting Principles
  • Why You Need to Hire a Consultant Service
  • Things to consider before choosing a cash card
  • Benefits Of A Mortgage
  • Oil And Gas Investments – Incentives And Benefits
  • Comparing The Trust Deed With Other Forms Of Credit Relief
  • How Can Businesses And Customers Benefit From The Direct Debit Payment Method?

Tags

accounting accounting principles card cash cash card Compare consultant services Credit Relief Direct Debit investment Method Mortgage oil oil investment Payment Trusted Deed

Categories

  • Accounting
  • Finance
  • Insurance
  • Investment
  • Management
  • Mortgage

Pages

  • Privacy
  • Reach Us
  • Terms
  • The Team
  • Things To look For When Hiring A Debt Coach

Calendar

January 2021
T F S S M T W
« Dec    
 123456
78910111213
14151617181920
21222324252627
28293031  

Pages

  • Privacy
  • Reach Us
  • Terms
  • The Team
  • Things To look For When Hiring A Debt Coach

Categories

  • Accounting
  • Finance
  • Insurance
  • Investment
  • Management
  • Mortgage

Tags

accounting accounting principles card cash cash card Compare consultant services Credit Relief Direct Debit investment Method Mortgage oil oil investment Payment Trusted Deed