Managing your Travelers Credit CardA travelers credit card must be managed properly. Recently government laws were passed in the US and Canada helping to regulate how credit card companies charge their customers. In most states, credit card companies can change the terms of your credit card agreement with 15 days notice. To avoid any surprises in your credit card terms, always read the fine print in the flyer inserts accompanying your credit card statements. Your debt-to income ratio (including car loan) should not exceed 15% of your total income. Example your income is $40000. net. 15% is $6000. a year or $500. a month.
Don't pay by your credit card rulesMinimum payments are designed by credit card companies to keep you as a profitable customer. A $4,000. loan would take you over forty years to pay off and cost you over three times the original $4000. That is if you were to only pay the minimum payment and never borrow another dime.How credit cards profitLenders have many ways to charge you and are creating new ones as you are reading. In fact,if you don’t use your card,you may get hit with an inactivity fee.One cost that you should be aware of is a transfer fee to, or from another account.
NegotiateTraveling is expensive. We need to be creative. Travel nurse solutions like owning and managing a low interest credit card is a big step forward. Do you want a lower interest rate? Remember you are the customer and it is easier for a credit card representative to negotiate with you than find a new customer. There are low interest credit cards as well. Note : Do your homework research and check out competitors.What is your annual fee, late payment fee, etc.? Once you have done your research use your leverage. A travelers credit card must meet your travel nursing needs.
NegotiateIf you are in trouble seek credit counseling and make sure you roll your debt to a credible lender with the lowest interest rate. Drop your spending and aim yourself towards a zero balance as fast as you can.A credit card is very important and a great asset for a traveling nurse. Managing your card is an important skill to learnYour Credit RatingCheck your credit rating and do what is necessary to get a good credit rating. A good credit rating will help you negotiate and give you leverage with credit card companies.RewardsJanet and I collect air mile rewards and we look forward to a vacation using our credit card rewards. Make sure the reward is something you can use. Cash is always a good option. Do not let spending get out of control to collect rewardsMake sure that you aware of all the benefits and penalties featured with your card. If you authorize an automatic debit be aware it is your responsibility to cancel the debit. Return to the top of Travelers Credit Card Return to the Travel Nurse Solutions Page Here Visit Travel Nurse Coach Home Page Here
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