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Member You - The Minimum Payment Trap
If you are in sales, you are involved in corporate dating. You must understand this because it is critical to your success or business. This concept of dating and sales might seem like an odd pairing but it takes place everyday. It has been a long time since I was on the dating scene as a single person but I’m involved in business match making activities constantly. Businesses and salespeople are searching f
When Kim received her next credit card bill, she realized that there was no decrease in the balance. She was not too concerned. Over the next few months, Kim would use her credit
With the extensive use of internet in the whole world the way things worked in the trade and commerce world has changed a lot. Now the internet is the biggest trading market and the whole world can be considered as the target market available for the marketers. There are many ways which can be used by people to generate money online. One of these methods is to generate money through Ebay and auctions. If you
How does it happen? Most credit card balances rise innocently enough. Once I worked with a woman who had this experience. She got a credit card intending to pay off the monthly balance. This plan worked to perfection for the first three months. At that time, Kim (not her real name), very prudently took advantage of an annual clothing sale. She used the sale to purchase much needed work clothes at 50% off. The final bill was a little over $1,500.00. Kim's intention was to pay off the balance two weeks later when she got her paycheck. However, two weeks later, when Kim got paid, she encountered another financial problem: her car needed $1,100.00 worth of repairs. The following day, Kim's credit card bill came in the mail. Kim had never paid much attention to her credit card bill prior to that and was relieved to see a box with the heading : minimum payment due. Kim had fully intended to pay the $1,000.00 that was on her credit card bill, but after paying cash for her car repairs, she didn't have the money left to pay off her credit card balance. Not wanting to hurt her credit rating, Kim immediately mailed the minimum payment.
When Kim received her next credit card bill, she realized that there was no decrease in the balance. She was not too concerned. Over the next few months, Kim would use her credit c
Every affiliate marketer is constantly searching for the thriving marketplace that gives them the largest paycheck. Sometimes they believe it is a magic formula that is easily available for them. Actually, it is more complicated than that. It is just good marketing practices that have been proven over years of hard work and dedication.There are affiliate marketing tactics that have worked before with
How does it happen? Most credit card balances rise innocently enough. Once I worked with a woman who had this experience. She got a credit card intending to pay off the monthly balance. This plan worked to perfection for the first three months. At that time, Kim (not her real name), very prudently took advantage of an annual clothing sale. She used the sale to purchase much needed work clothes at 50% off. The final bill was a little over $1,500.00. Kim's intention was to pay off the balance two weeks later when she got her paycheck. However, two weeks later, when Kim got paid, she encountered another financial problem: her car needed $1,100.00 worth of repairs. The following day, Kim's credit card bill came in the mail. Kim had never paid much attention to her credit card bill prior to that and was relieved to see a box with the heading : minimum payment due. Kim had fully intended to pay the $1,000.00 that was on her credit card bill, but after paying cash for her car repairs, she didn't have the money left to pay off her credit card balance. Not wanting to hurt her credit rating, Kim immediately mailed the minimum payment.
When Kim received her next credit card bill, she realized that there was no decrease in the balance. She was not too concerned. Over the next few months, Kim would use her credit
Are public relations and crisis management planning important to your business? The answer is simple and direct. Public relations and crisis management planning are not only important to your business, they are both CRUCIAL to your business, regardless of your type of business. In today’s fast-paced and ever-changing world, business is news. Plant closings, mergers and acquisitions, unemployment, strikes, la
When Kim received her next credit card bill, she realized that there was no decrease in the balance. She was not too concerned. Over the next few months, Kim would use her credit
Communication is the act of relaying ideas, concepts, advice and recommendations to people who want to hear from you or have reason to care.We’ll call the people who want to hear from you your clients. The people who have reason to care are your prospects.You want to communicate to inform, inspire or provide advice. Keeping your name in front of people is an end result not a reason. You build y
When Kim received her next credit card bill, she realized that there was no decrease in the balance. She was not too concerned. Over the next few months, Kim would use her credit
Your business is only as good as the number of people who knows about it. For your venture to grow, you need to start spreading the word about your business. You may have the best products your field, but you cannot expect your business to breach the million-dollar mark in sales if only the people in your street know about it. Some entrepreneurs start doing promotions only when their businesses are up and ru
When Kim received her next credit card bill, she realized that there was no decrease in the balance. She was not too concerned. Over the next few months, Kim would use her credit card and see her balance slowly increase even though she always sent in her minimum payment on time. Kim was out for lunch one day with a business client when her credit world started to unravel: her card was refused. Kim got back to her office and called the credit card company. She was told that she exceeded her credit limit of $2000.00. The credit card company explained to Kim the following: 1) her minimum payments covered only finance charges on her existing balance 2) in the fourth month, they received her payment two days late, which automatically kicked in a much higher interest rate. Kim learned these facts because she called her credit card company right away. At the critical moment of discovering her card was over the limit, Kim took took positive action to rectify the situation. She and her credit card company agreed on a workable payment schedule which zeroed out her credit card balance in twelve months. By communicating with her creditor, Kim did minimal damage to her credit score, and was able to build a strong financial future.
To prevent falling into the trap that Kim fell into, make sure you are fully aware of the terms and conditions of your credit card agreement. Financial institutions are required by law to fully disclose all terms and conditions that will increase your interest rates and/or assess late fees. Communicating payment problems as quickly as possible
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