Tag: APR

  • Why Credit Card Balances Are Costing You More

    Why Credit Card Balances Are Costing You More

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    dyneri
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    If you’re feeling the pinch of higher costs when carrying a credit card balance, you’re not alone. Credit card rates are at historic highs, making it more expensive than ever to not pay your credit card in full each month. The reasons behind these increases involve a mix of factors: rising interest rates, bank fees,…

  • How Good Credit Can Save You Money

    How Good Credit Can Save You Money

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    dyneri
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    We’ve been following a fascinating study from LendingTree that shows how boosting your credit score can significantly impact your financial life. The research found that improving your credit score from fair (580 to 669) to very good (740 to 799) could save you upwards of $22,000 over a lifetime! Yes, you read that right — $22,000!…

  • The Challenge of Compound Interest When Borrowing

    The Challenge of Compound Interest When Borrowing

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    dyneri
    in ,

    Historically, we tend to talk about “compound interest” as a positive concept when saving money. This post focuses on the other side – the negative power of compound interest. We will speak to the crippling impact of compound interest when taking on debt, using credit cards as an example.  How Credit Card Debt Works Imagine…