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Navigating Credit Card Fees and Interest Rates: A Family Finance Guide

Understanding credit card fees, interest rates, and managing personal finances is crucial for families. In this analysis, we explore options from various credit cards, including Capital One with a 0% APR until September 2010 and Discover's rates varying between 11.99% and 18.99%. Families should be aware of higher fees, increased minimum payments, and potential penalties. Maintaining three to four credit cards can help increase your credit score and keep a healthy credit line available. Stay informed to save on annual rates and avoid common pitfalls.

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Navigating Credit Card Fees and Interest Rates: A Family Finance Guide

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  1. Family Finances By Alma D. Rocha

  2. Credit Cards • Pay new fees • Pay higher rates • Cancel credit cards

  3. Capital One • (APR) O% • O % UNTIL SEP 2010 • VARIABLE RATE

  4. Discover • (APR) 11.99% to 18.99% • 0% on six months • No specific rate

  5. Citi Master Card • (APR ) 0% for six months • Lower 11.99% • No mention rate

  6. Bank LendersFebruary – September 2010 • Higher rates • Increase fees • Raising minimum payments • Reduce credit limit

  7. Regulations • Reduce Credit limit • Interest rate 29.99% • Credit Card - canceled

  8. Analysis • Save money to pay annual rate • Analysis interest rates • Advertising rates • Penalty fees • Late fee

  9. “Nilson Report” • The household should have three or four credit cards. • Increase credit score • Keep available 50% credit line

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