Types of Credit Cards

Every household has credit cards, and just like most things there are many types available to meet your family’s needs. People may need credit cards to cover high expenses such as donations they don’t have the liquid funds for or people may just want to use credit cards for its rewards and benefits available. Either way there are many websites available for you to shop around explore the options available to you. Below is a quick outline of the different types that can help you begin your research.

Cash Back

Cash back credit cards are a type of credit card where they offer a benefit of a percentage of money spent on the card will be paid back to the consumer. This type of credit card is most beneficial to consumers who can pay their card off right away. A card like BMO CashBack credit card review can help you earn money while spending money. What a great benefit.

Balance Transfers

There is a type of credit card that allows you to transfer your balance from another credit, this is called a balance transfer. Sometimes people find themselves with a high balance on their credit card and are paying high interest. They can transfer their balance to a different card that may offer better rates or rewards. Some credit card companies offer zero interest on balance transfers for a period of time. This is helpful to people and can help them chip away at their outstanding balance.

Travel

If you and your family like to travel, there are many cards out there that offer amazing rewards for travel. By spending money you can earn rewards points towards things like hotels, flights, etc. The more you spend on your credit card the more you may be able to get a free vacation. This is a very good type of card for those that pay off their cards each month. If you have the money to spend anyways why not earn free vacations?

Low Interest

One item that hits everyone hard with credit cards are interest rates. Most companies will charge you an arm and a leg to carry a balance. If you are expecting to have a high outstanding balance it is best to research companies that offer a low interest rate, otherwise you are spending money on top of what you already owe just on interest.

Rewards

Just like the travel rewards, many people use credit cards purely for the rewards and benefits they offer. Rewards can be store specific or general (money towards gas, food, etc.). These rewards can be very helpful towards fun entertainment or everyday expenses. If you have the money why not use your credit card, earn rewards, and just pay it off right away.

All of these are examples of the credit card options available to you. Do your research and find out which is best for you and your family.

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How to Get Rid of Debt

One thing that is true about debt is that it is easy to accrue but very difficult to get rid of. It often snowballs and gets out of control and you are faced to figure out what to do. Most people will visit a financial professional to come up with a plan of how to tackle the issue at hand. Some people come up with a goal to demolish their debt on their own. Below are some tips and examples of how you can tackle your debt.

Snowball

One method of paying off debt is the snowball method. It is a debt reduction strategy that focuses on paying off the small balances first while paying minimal payment on the larger debts. The idea is that as soon as the first debt is paid off use the freed-up payment amount to pay down the next debt even faster. Continue the process (building like a snowball) until all debts are paid off. There are calculators to help you determine the method to use based about all of your debt products and debt amounts. It is simply a calculation that can be performed at home.

Avalanche

Debt avalanche method is the opposite of the snowball method. It focuses on the debts with the highest interest rates first. It will allow you to repay debts in the shortest time and will save you the most money on interest. It wants you to pay off the accounts with high interest because they do not want you to waste your money on interest when it could be going towards your debt repayments.

Refinancing

Besides just chugging along and paying off debt, it is also a good option to refinance your debt. Things such as mortgages, student loans, business loans or credit cards can all be refinanced. Refinancing means to have your debt product reassessed a new rate. This will help you in the long run because it could save you money that is to be paid on interest. You can shop around to find the best rate at different institutions. You could also save money by refinancing and redoing your life insurance

Increase Income

If debt is making you lose sleep, the only other option is to make more money to put towards your debt repayment. Obviously this is easier said than done because if  extra cash was accessible than you wouldn’t have the debt. But you can try to get additional cash to pay off debt by additional supplemental income, a change of profession, or an investment. Things such stocks, mutual funds, real estate, life insurance, etc. are all good examples of sources of additional funds.

By using the avalanche or snowball debt repayment strategies, refinancing, or earning some extra cash, hopefully these helpful hints will help you tackle your debt.

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Why Warrior Trading was Nominated for Best Trading Educator in 2016 and 2017

It was no surprise when Warrior Trading was nominated at the Best Trading Educator in 2016 by the Benzinga Fintech Awards, but it was even more amazing when they were nominated in 2017. An unusual feat accomplished by few day trading education sites. Here is a little more about how that happened and why Warrior Trading was selected.

What are the Benzinga Fintech Awards?

The Benzinga Fintech Awards is a competition that showcases international corporations that are utilizing the most impressive technology and paving the future in financial services and capital markets. This Awards program seeks out the most innovative companies in the industry and rewards them for their innovations in the financial services sector. Finalists are determined by a judging panel comprised of financial and technology experts.

Why Warrior Trading?

Warrior Trading received this honor because they are on the cutting edge of equipping their users to develop into profitable traders while still maintaining a lifestyle defined by freedom and independence. More and more people are looking for a way out of the rat race. People want to work for themselves and they want to be able to work where and when they want. Warrior Trading is providing the tools for people to life that lifestyle. Warrior Trading is innovating with the trading simulator, daily trading chat room and other offerings that change how people learn how to day trade and in many ways how people choose to make a living day trading.

Why Warrior Trading Received this Recognition

Obviously, we could never cover all the amazing things Warrior Trading is doing in this one short article so head over to their homepage and check all their exciting news out for yourself. Warrior Trading is always striving to stay ahead of the pack and they are always finding new ways to help their users succeed.

What is the best way to stay up to date on all Warrior Trading’s happenings?

Warrior Trading on Twitter does a great job keeping their timeline updated with all the latest and greatest news and information about what they are up to and hot stock tip information.

With everything that Warrior Trading is doing right lately it is no surprise to see them honored again by the Benzinga Fintech Awards.

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