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Variable APR credit cards are a type of credit card that has an interest rate that fluctuates with the market index. This means that the APR, or annual percentage rate, on your credit card can go up or down depending on the economy and the market index. While variable APR cards can offer some benefits, such as lower introductory rates or rewards programs, they can also come with some significant risks. Understanding the risks of variable APR credit cards is essential before applying for or using one, as they can have a significant impact on your finances and credit score. In this response, we will discuss some of the risks associated with variable APR credit cards and provide advice on how to manage them effectively. Fluctuating Interest Rates: As the name suggests, the APR on variable APR credit cards fluctuates with the market index. This means that your interest rate can go up or down depending on the economy and market conditions. If interest rates increase, your credit card's...

Credit card EMIs or Equated Monthly Installments have become increasingly popular over the years. They allow customers to make big-ticket purchases without having to pay the entire amount upfront. Instead, they can spread the cost over several months and pay it off in installments. In this article, we will discuss how credit card EMIs work, their benefits, and things to keep in mind while availing them. What is Credit Card EMIs? Credit card EMIs allows customers to convert their credit card transactions into easy monthly installments. They are available on select transactions and offer a more affordable way to make high-value purchases. With EMIs, customers can choose the repayment tenure, which typically ranges from 3 to 24 months. How do Credit Card EMIs Work? Credit card EMIs work by converting your credit card transaction into an installment plan. When you make a qualifying transaction, you will receive an option to convert it into an EMI plan. The interest rate charged o...

Illegal credit card charges can be frustrating and stressful, but it is important to take prompt action to resolve the issue and protect your finances. Whether it is a result of fraud, mistake, or any other reason, there are several steps you should take to handle illegal credit card charges. It’s important to take immediate action to resolve the issue. In this article, we will outline the steps you should take to dispute illegal credit card charges and protect your financial information. Step 1: Report the fraudulent charge to your credit card issuer The first step in resolving illegal credit card charges is to report them to your credit card issuer. This can typically be done by calling the customer service number on the back of your credit card or by logging into your online account and reporting the charge through the account dashboard. When you report the charges, be sure to provide the following information: ●        The date and amount of each ...

Whether or not you should get a balance transfer card depends on your financial situation and goals. A balance transfer card is a type of credit card that allows you to transfer high-interest credit card debt to a card with a lower interest rate, usually for a limited period. Pros of a balance transfer card: Lower interest rates: The main benefit of a balance transfer card is a lower interest rate on your transferred debt. This can save you a lot of money in interest charges, especially if you have a large balance and a high-interest rate on your current card. Debt consolidation: By transferring multiple high-interest credit card balances to a single card with a lower interest rate, you can simplify your finances and make it easier to keep track of your debt. Time to pay off debt: A balance transfer card often offers a promotional period, usually 12-18 months, during which you can pay off your debt without accruing interest. This can be a great opportunity to get out of ...

A complicated procedure known as underwriting, which is based on mathematical formulas, extensive testing, and analysis, is how financial institutions determine your credit limit . The procedure's specifics are kept confidential because that is how the business generates revenue. The main issue is that this method of calculation assists the business in deciding who to approve, at what rate, and within what limits. The greater the credit limit, the more the lender expresses confidence in the borrower's ability to repay the debt. What is a Credit Limit? The credit line provided by a credit card issuer to its cardholders is known as the credit limit. This credit limit, which is also known as a credit line, is established after an application is accepted depending on the consumer's credit quality and can rise over time with wise card use. Customers can also ask for progressive credit line increases to better suit their needs. The criteria used by various credit card compani...