The other big difference is cost. A third party insurance policy's premiums will not go up, so you would pay same premium today that you'd pay ten years from now. You won't get that same guarantee from a bank which can and probably will increase your premiums during life of policy. In most cases, you'll probably pay more through a bank anyway. In fact, you could pay as much as 40% more than you would if you shopped around and found your own insurance provider. Not to mention that policy you take out through your bank will gradually decrease in value while a plan you select from an outside source will be worth same amount during entire policy period.

Of course, many people don't mind paying more for their mortgage insurance because it's more convenient than dealing with insurance agents. The truth is that you can easily find a policy that fits your needs and provides affordable premiums via Internet. An organization, such as Hughes Trustco Group, can even generate quotes for you from multiple insurance providers so you'll know that you're receiving best deal possible on policy you want.

The bottom line is that mortgage insurance is important and should be part of your home buying or refinancing preparations, but that does not mean you need to pay more or let bank make important decisions for you. Instead, you should find your own personal plan from a third party provider which will let you stay in control of your policy and will save you money in long run.

The second shortcoming regarding using credit cards, comes from additional costs or expenses of using credit cards, if full monthly outstanding balance is not paid by due date. This is due to interest charge, or cost of borrowing money. Generally, credit cards carry a higher interest rate, in comparison to say a line of credit at your local bank (bear in mind that there are low interest credit cards available). If you do not pay off full outstanding balance by due date, you will find that you will have an interest charge added to your account, generally calculated on full amount of original outstanding balance.

Yes, that’s right, generally interest charge on credit card bills is not for difference between what you have paid and what you still owe, but rather on full amount. For example, say your outstanding balance to be paid by your due date is $1,000 and you pay $999 by due date, you will actually incur interest charges on full $1,000 and not $1 still owing.

If a credit card user has difficulty in paying their credit card debt, addition of monthly interest charge on full outstanding balance will make paying off credit card debt even more difficult.

If you pay off your credit card balance in full by due date each month, you can avoid additional expenses (interest charges) that might contribute to financial difficulties regarding bebt repayment. By paying off your credit card balance in full by monthly due date, you may also improve your credit rating.

To avoid credit card abuse, remember to try to follow these two important tips:

• Don’t make more purchases on your credit cards, than you are able to pay off in a reasonable time.
• Pay off entire credit card balance each month, before due date.

For more credit card information and online credit card applications, please visit www.lots-of-credit-cards.com.

John Vink edits and manages a number of web sites, including 2 financial related web sites:

• www.lots-of-credit-cards.com
• www.lots-of-insurance.com