Debt Consolidation Guide - Debt Consolidation Help Section

Welcome to Debt Consolidation Guide

Debt Consolidation Help Article

The Benefits From Credit Card Debt Consolidation

‘Credit card debt consolidation’ seems to be the most talked-about term in the world of credit cards. It’s true that credit cards have been very useful and convenient for us and we, in fact, treat the credit cards as a necessity. However, with every good you have evil too. In the world of credit cards, ‘Credit card debt’ is that evil and ‘Credit card debt consolidation’ is often regarded as a medicine for treating credit card debt.

Anyone who has read any newspaper articles on ‘Credit card debt’ would already know what credit card debt consolidation is. However, just for the benefit of others, credit card debt consolidation, in simple terms, is the process of consolidating debt which you hold on various high APR credit cards onto just one low APR credit card. Thus, the main benefit of credit card debt consolidation is realized in terms of APR reduction (and hence reduction in credit card debt growth rate). This is touted as the most important benefit (and sometimes the sole benefit) from credit card debt consolidation. However, credit card debt consolidation comes with few more benefits as well. Some of these credit card debt consolidation benefits are widely publicized by the credit card suppliers and some not so much:

1. Initial APR: As mentioned above, lower APR is the biggest benefit from credit card debt consolidation. Since credit card debt consolidation is used by credit card suppliers as a tool to attract consumers, they generally offer a 0% APR for a initial period of 6-9 months of you joining their credit card debt consolidation program i.e. first few months after you get the new credit card.

2. Standard APR: Lower standard APR (i.e. the long term APR) is the other important benefit from credit card debt consolidation. Though not all credit card suppliers offer a lower standard APR with credit card debt consolidation some do design credit card debt consolidation programs with good standard APR. These credit card debt consolidation programs offer a trade-off between initial and standard APR rates.

3. 0% on purchases: This is another common benefit from credit card debt consolidation. The 0% interest (or some lower percentage) on purchases is offered as an incentive for credit card debt consolidation. This credit card debt consolidation benefit is again applicable only for a short initial period.

4. Easy management: This credit card debt consolidation benefit is not as discussed as others. However, one benefit of credit card debt consolidation (from multiple to single credit card) is the fact that you need to track and manage a lesser number of credit cards.

5. Other benefits: The credit card debt consolidation exercise might bring you some more benefits in terms of rebates, discounts and reward points (especially if you move to a co-branded card as part of credit card debt consolidation)

What was started as an online store, has turned into a growing collection of internet resources on subjects ranging from Network Marketing, Investing, Health, Travel and even Credit Cards. Visit http://www.mjesales.com for our store or http://www.mjesales.com/articles.htm for more articles. This article may be reproduced only in its entirety.

Debt Consolidation Help News

Suozzi commission pitches final report on capping taxes - Long Island Business News

Tags: David Paterson , New York State Commission on Property Tax Relief , Tom Suozzi Gov. David Paterson on Monday renewed his call to cap New York’s property taxes, which are the highest in the country at 79 percent above the national average. The ...

Read more...

---

How to make the best of a debt consolidation loan - MyFinances.co.uk

When you start finding it difficult to keep up with your monthly bills because you have so many different accounts to pay each month, it may be a good idea to consider a debt consolidation loan. Debt consolidation loans help you manage your debt ...

Read more...

---

Get help managing and consolidating debt - The State

Mounting debt can put ever-increasing pressure on a household’s finances and lead to possible long-term credit problems. Finding a solution to personal debt is not always easy. But it can be done, often through a careful debt management and ...

Read more...

---

UTV eyes €587m merger with Virgin Radio owner - Independent

Share MEDIA group UTV is in talks with the owners of Virgin Radio over a merger thought to be worth around £400m (€587m), as media consolidation continues in Britain . UTV confirmed yesterday that it had approached the board of Scottish TV and ...

Read more...

---

Canlan Ice Sports to go ahead with planned 20-for one share ... - Canada East

BURNABY, B.C. - Skating arena operator Canlan Ice Sports Corp. (TSX:ICE) said Thursday it will go ahead with a planned 20-for-one share consolidation. The company will have about 13.3 million shares outstanding following the consolidation, which ...

Read more...

---