Escaping Late Fee charges on your Credit CardWritten by Alan Trent
It's a little known fact that late fees account for an IMMENSE proportion of credit card companies' profits, as much as 30% in case of some lenders! You may never have encountered a 'late fee' before, but if you use a credit card, you probably will! Forget to pay off bill one month, or misplace a bill, and next month you will see a new entry on your statement - dreaded 'Late Fee'. Credit cars companies make money in a number of ways, such as charging you interest on your balance, imposing fees on merchants, and so on. As competition in credit card market has hotted up recently, card companies have started to shave down these 'reputable' costs charged to their 'good' customers, and to raise charges against 'bad' customers. The idea, of course is to keep their customer base up, by making 'good' ones feel wanted, while hitting 'bad' customers every which way they can. What this means is that if you pay late, you are effectively subsidising those who either pay off their bills in full each month, or run away from their debts by filing for bankruptcy. Late fees vary from lender to lender, but typically start at around theten dollar mark, and go up over forty dollars. Interestingly, these fees are arbitrary, meaning credit card corporations can charge whatever they think they can get away with, and have doubled on average in last 5 years. And revenue from this source soon ads up! Imagine half a million borrowers catching a median 17 dollar late fee! Thats... $8.5 million!!! No wonder lenders like it so much!
| | Tips to Save on Car InsuranceWritten by Jordan Walt
NEWS RELEASE Contact: Jordan Walt, (503) 653-8287 A.I.C. Insurance Agency Offers Tips to Help You Save on Auto Insurance Milwaukie, OR 2/18/2005 – Purchasing auto insurance that is right for you can be confusing, especially for first-time buyers. By learning basics on how to get most for your money, you can save on your auto insurance and feel confident you have adequate coverage. A.I.C. Insurance Agency and Travelers, a leading provider of auto and homeowners insurance, offer these tips to lead you in right direction when you purchase your car insurance. • Be a safe driver. Drivers with good driving records can save as much as 60 percent over drivers who cause accidents. • Enroll in a driving class. Drivers who complete a state-approved defensive driving course, or drivers under age of 21 who take a driver training course, could qualify for savings. • Buy a car that includes safety features such as anti-lock brakes, alarms or other security features, airbags, and automatic seat belts. • Choose a higher deductible (what you pay before your insurance policy kicks in), which can mean paying less for your policy. • Eliminate unnecessary coverages. If you drive an older car with little cash value, consider eliminating “collision” or “comprehensive” coverage, which pays for damage to or theft of your car.
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