Video Courtesy of Americans For Fairness In Lending (AFFIL.ORG)
Our Allies at Americans For Fairness In Lending Posted a Video on YouTube That is worthy of a Donation 
In this video Mr. Jerry Young, and ex-bank employee, removes the barriers to understanding Bank and Credit Account Fee’s.
Jerry Young takes on:
- Assessed Penalties
- Balance Transfer Rates (as high as 18%)
- Default Rates
- Fee Payment Structures (what Fee’s are paid first)
- Purchase Rates
- What you can do if your rates and fee’s become unbearable
So how can you avoid penalty fee’s ?
Debt Warriors attacked his subject before and it’s worthy of a review:
# 1. Know the “Terms and Conditions” for Credit: With Credit Card Default rates skyrocketing what you don’t know about your Credit Cards can hurt you. For this reason, it’s important to understand what will trigger a default rate to be placed on your card.
#2. Know the ‘available balance’ for each Credit Card Account: For example, once you exceeds a certain percentage of your available balance, Creditors probably will start raising your Rates.
#3. Try to keep your “outstanding balance” way below the available balance: It’s wise to spend only 25 to 35 percent of your available balance on any credit card. It is unwise to use more than 40 percent of your total available balance.
#4 Pay at least $5 over your minimum monthly payment: Many people don’t know that they can shave off interest payments by making a regular payment of $5 to $10 dollars over the minimum monthly payment.
#6. Know which kinds of Cards you have: Are they “Rewards Cards” or regular cards. Regular Credit Cards are by far a better solution in many ways. Keep your Rewards Cards purchases to a bare minimum.
#7. Carefully budget yourself for the fee’s: Once you understand the Terms and Conditions for Bank and or Credit Fee’s you should consider including all Fee’s as expenses in your monthly budgeting.
#8. Always do Balance Transfers Responsibly: You should know that there are many tricks and traps of Balance Transfers, that your Bank and or Credit Card Company will not inform you of.
That’s why Debt Warriors have produced the ultimate Credit Card Debt Elimination Video Course (plus easy to use Debt Elimination Software). It’s called Credit Card Medic and it works for virtually any kind of Credit Card. Credit Card Medic Reduces the stress associated with Credit Card Debt. To learn more about Credit Card Medic: Click here
