First Union Lending’s Post

➡️Lower interest rates mean more of your payment is going to reduce principle ➡️combine some of your higher interest rate credit card balances on the credit card with the lowest interest rate ➡️side benefit - if you need a break in the monthly payment by moving the balances you may can reduce your out of pocket for that month to get back on track next month🚀 ➡️this will free up your availalbe credit which will help with your credit score #debtconsolidation #financialfreedom #buyingahome #digitalmarketing

Is your credit card interest rate based on average daily balances rather than the amount not paid by the due date? #CreditCardInterest #AverageDailyBalance #InterestRates ## Understanding Credit Card Interest Rates When it comes to credit card interest rates, understanding how they are calculated can make a significant difference in managing your finances. Contrary to what many people may think, credit card interest rates are not solely based on the amount not paid by the due date. Instead, they are calcul... Source: https://lnkd.in/g-snU485 #mymetric360

With credit card balances on the rise, here is a reminder that interest is calculated daily. Simply divide your APR by 365 to calculate your daily interest rate. For instance, a 9% APR would translate to a daily rate of 0.00024658.

Have you seen the 0% interest rates on balance transfers to a new credit card? It might be time to take advantage of those! Just be careful because they usually have a specific time period for you to take advantage of the 0%! https://hubs.ly/Q02myKNN0

Have you seen the 0% interest rates on balance transfers to a new credit card? It might be time to take advantage of those! Just be careful because they usually have a specific time period for you to take advantage of the 0%! https://hubs.la/Q02myRRT0

Your credit card interest rate can affect the overall time it takes to pay off your credit card balance. Learn how long it may take to pay off your credit card based on your interest rate, spending, and payment habits. https://lnkd.in/e7GacYBU

Have you seen the 0% interest rates on balance transfers to a new credit card? It might be time to take advantage of those! Just be careful because they usually have a specific time period for you to take advantage of the 0%! https://hubs.ly/Q02myRSh0

Do you understand how your credit card works? Or what your interest rate is? Watch this video from It's a Money Thing to get the scoop on credit cards and what should be considered before applying.

Need to improve your credit fast? Focus on paying down the balances on some of your highest-interest credit card. This can boost your score in just a few months! #CreditRepair #FinancialWellness #SmallBusinessFinance #ScoreImprovement

Why Say No to #creditcards? 1) Credit cards often lead to a fierce cycle of #debt accumulation, making it challenging to achieve your #financialfreedom. 2) High #interest rates on credit card balances can drain your wallet. 3) Credit cards make it easy to #overspend and lose track of your #budget, leading to #financial stress and anxiety. #wealthcreation