The Most Expensive Transaction Of All - Fatal Facts Of Credit Cards

1. The Most Expensive Transaction Of All Feel Free To Call US 1-800-808-1613 Landline 416-848-0469 Fatal Facts Of Credit Cards www.mortgagedeliveryguy.ca

2. The Most Expensive Transaction Of All Taking out a cash advance is the same as taking out a loan. Instead of paying ordinary loan interest rates, you pay sky-high credit card rates AND a long list of added fees. Whether you get a cash advance on your card from your bank, from a cash machine, or by writing a cheque on your credit card, you end up paying through the nose. www.mortgagedeliveryguy.ca

3. The Most Expensive Transaction Of All Most credit cards charge something called a cash advance fee of about 2-3% of the amount borrowed. Some cards have a minimum fee of $5, which on a $20 cash advance amounts to 25% of the amount borrowed! While you’ll get a 21-day grace period on new purchases, most credit cards don’t give grace periods on cash advances. Even if you don’t have an outstanding balance, you pay interest daily until you repay the advance. And to make matters even worse, some cards charge higher interest rates on cash advances! www.mortgagedeliveryguy.ca

4. The Most Expensive Transaction Of All Example: When you take a $300 cash advance and pay it off when your bill arrives. Depending on the card, here’s what you might typically pay: One month’s interest: $4.50 (based on 18% APR) Cash advance fee: $6.00 (based on a 2% fee) Total cost: $10.50 If this had been a $300 purchase on a card with a 21-day grace period, you would have paid NOTHING. Remember, cash advances are the MOST EXPENSIVE way to use a credit card and should only be used in emergencies! Another reason why so many people can’t buy their own homes. They internalize this fact and start saying,” I like Renting. “ www.mortgagedeliveryguy.ca

5. The Most Expensive Transaction Of All THANK YOU www.mortgagedeliveryguy.ca