It’s so easy to get into financial hardship with the easy access North Americans have to credit cards. It seems so easy to just swipe that card and get a shiny new I-phone, amazing dress, or set of golf clubs. The world is your oyster, at least until you see your credit card statement. Check out this SuperMoney product review and how to get out of debt the smart way.
It’s easy to get into the revolving door mentality of using one credit card to pay off another credit card. Paying the minimum balance is great because it keeps the credit card provider happy for another month. The only problem is, the interest you are paying swallows up your minimum payment so, in essence, you’re treading water.
You can only tread water for so long. Eventually by using the revolving credit card system of using one card to pay another will reach a breaking point. The time will come when all your cards are maxed out. The worst part is, that by making minimum payments only, you will own that debt for decades.
Or perhaps you are in the market for a home, your very first credit card, or are looking to reduce your debt. Whatever your financial need, SuperMoney will find what works best for you.
LET SUPERMONEY HELP YOU
SuperMoney is not a website of loan sharks who will make your financial matters even worse. On the contrary, they will help you get your financial house in order.
What people don’t get is that financial institutions will fight over who will get your business. Once you understand this, it will work to your advantage.
Basically, that’s the SuperMoney advantage and how they will help you figure out the best deal for you no matter what your financial plan happens to be.
Consumers need loans for any number of reasons, and SuperMoney will help you with the loan you require for a particular goal.
MAYBE YOU WANT TO BUY A HOUSE
Sure, owning a house is the American dream, but only if it’s accomplished with financial responsibility. In other words, what’s the point of owning a home if you are house poor? That’s no fun and just creates stress. Your American dream soon becomes a nightmare,
SuperMoney will help you understand what’s involved when purchasing a home. There are many aspects of homeownership that consumers who are house-hunting simply aren’t aware of. This is where SuperMoney comes in.
If you were to make home loan requests on your own there would be endless amounts of forms to fill out for all the prospective lenders that you approach. With SuperMoney all you do is fill out a single form and see what rates you qualify for from mortgage lenders.
Don’t forget that lenders are competing for your business, so SuperMoney will help you look at all their lender partners and find out what the best deal is for you.
Say, for example, SuperMoney can help you find a home mortgage loan that is 0.5% lower than all the others. At first blush, that might not seem like much, but hold the phone! A 0.5% interest saving on a 30-year mortgage of $300k can save you $30,641.
And what if you were to opt for a 15-year mortgage to get that sucker paid off? That 0.5% would save you a whopping $116,178. That is of course, as long as you can manage the increased mortgage payment without having a foreclosure on your home.
Even something like choosing the wrong mortgage that has prepayment penalties will cost you thousands of dollars in fees if you go in blindly. SuperMoney won’t let that happen. They have the tools that can help you find the best deal possible.
FINANCING A PURCHASE
In a perfect world, we would all pay cash for every single purchase. However, that’s often easier said than done and this is where the right loan will come in handy. You might even have enough money saved up to make the purchase outright, but don’t want to clean out your savings account.
Did you know that the default rate on loans varies widely depending on what you are using the money for? There is a big difference between a student loan, auto loan, boat loan, wedding loan, or vacation loan. It’s important to check out what specialized lenders have to offer before you simply take whatever loan deal your bank or credit union has to offer.
It’ an important to rate shop before jumping in with both feet. SuperMoney has a loan offer engine that will allow you to see what rates and terms you actually qualify.
Most consumers don’t know that if a hard inquiry is made on their credit score can impact your rating. Soft inquiries, on the other hand, do not. SuperMoney knows this and won’t allow you to fall into that trap. If your credit rating is impacted by making the wrong type of credit rating inquiry, it will impact you with a lender you might approach in the future.
If you have bad credit it’s even more important to tread lightly. ***SuperMoney’s Loan Comparison Tool*** will let you know what rates you can expect from lenders who accept customers with bad credit.
FINDING THE BEST CREDIT CARD FOR YOU
Whether you are a senior season in the world of finance or a student applying for your first credit card, SuperMoney will help you find the absolute best card to meet your needs.
This is not a small task considering the thousands of credit cards flooding the US marketplace.
Fortunately, SuperMoney can filter out hundreds of cards by card type, rewards, perks, and credit score requirements. Just this one service could well save you a lot of time and more importantly, a lot of money.
There are three important things to consider when comparing credit card offers. What’s your credit score, your spending habits, and your preferences.
If you have an excellent credit rating, you will probably qualify for any credit card. Bad credit or not having a credit history at all will limit what cards you will be able to get. There are also credit cards specifically for students who have no credit rating. There are even cards for those who have an average credit rating.
It’s important to take a look at your spending habits as well. Most cards have some sort of reward program and there may be some out there that fall right into line with the products you normally purchase. A good example is a food and gas. Some cards are excellent for this and some are not.
What are your preferences as far as perks? Do you want cashback or travel rewards? Would you prefer a big sign up bonus or a 0% introductory offer? You have to shop around what you determine what it is you want.
CREDIT CARD FUNCTIONS
This is an incredibly important part of this article to understand.
Say for example you are $10,000 in credit card debt. It could be much more or it could be less. A Balance transfer credit card might be just the ticket. The trick is to find the credit card that offers a long 0% APR introductory offer periods with no fees.
Should you use these balance transfer fees properly and make a concerted effort to pay off your debt, you might no pay a dime in interest to the balance transfer credit card. SuperMoney can help you find that card.
If you are looking to build up your credit rating, the key is to find a credit card company that accepts people with a not so good rating. It’s important that the company you choose reports to all three credit bureaus and have low fees.
The goal is to make your payments on time and to not over-extend your balance. This will begin to improve your credit rating. The company will report to the credit bureaus that you are managing your card well.
There are also best credit cards students should apply for, best credit cards for cashback, and best cards for travel rewards. Seniors might like to have this type of credit card as they tend to enjoy traveling. Maybe SuperMoney could help finance their trip to Aruba, that special Caribbean cruise they always wanted to take or their river cruise in Europe.
Some Cashback credit cards pay up to 6% and this can save you hundreds of dollars a year.
SuperMoney can help you find the perfect card. It’s would be too easy to miss out on a great deal because there are so many options out there. By making use of SuperMoney’s services they will leave no stone unturned in their search for the best card for you.
Consumers cost themselves thousands of dollars because they are unaware of how to work through the maze of credit card providers and mortgage lenders. They don’t realize how something as harmless-looking as 0.5% can save them tens of thousands of dollars.
SuperMoney is aware of all this and is equipped to cut through the clutter and help you work out the best possible arrangement no matter what the reason for requiring a loan.
They are not a money-lending organization. The SuperMoney mandate is to comb through all the companies that are in the lending business and find what’s best for you under your particular set of financial needs and wants.
It’s important to remember what I mentioned in the very beginning. Moneylenders in all their forms want your business and compete against each other to get it. YOU are in the driver’s seat and SuperMoney is your cruise control.
They are well aware of the competition out there and know exactly how to work it to your advantage. I hope you learned something from this SuperMoney product review and how to manage debt the smart way.