Never Pay Credit Card Interest Again...Secret Method Revealed

Do you have more than one credit card? Did you know that if you make one late payment your credit card company can and will raise your APR to the highest rate they charge? And did you also know that if this happens to you, all of your other credit card companies will find out and they'll raise your rates too? You can actually end up paying way more in interest than you actually owe the credit card companies.

First let's examine what APR is. APR stands for Annual Percentage Rate. Simply put it is the percentage per year that you would pay on your balance. This is pro-rated to a monthly rate based on what you currently owe the company. Rates can fluctuate wildly depending on your current credit rating. Credit card companies reward those customers who have good credit ratings with the lowest interest rates. These rates can have a very wide range, but you won't be able to qualify for the better rates if your credit isn't impeccable.

Now of course the ideal situation is to pay your balance off in full each month, but sometimes this isn't possible and you end up carrying an outstanding balance. In some cases you may have balances on more than one card. If this happens to you,my advice would be to pay the highest payment you are able to pay on the card with the highest interest rate, rather than the highest amount owed. Just keep in mind that every dime of interest is more money that you are paying to the credit card company. We seem to be more worried about paying extra shipping on items we purchase but seem to dismiss the extra money we pay in interest payments. That's probably because it is largely unseen and in some cases hard to figure out how much we're actually paying.

I personally try not to carry balances when I can, but periodically I have had balances on several different cards. But I can honestly say that I haven't paid any interest on any of my cards since 1991.