ArtsAutosBooksBusinessEducationEntertainmentFamilyFashionFoodGamesGenderHealthHolidaysHomeHubPagesPersonal FinancePetsPoliticsReligionSportsTechnologyTravel

Terms & Conditions Of Signing A Loan Or Credit Agreement

Updated on September 9, 2014

So what do you do when your credit card debt has gotten to be a point where you feel it's all over and there's no way out?

Refinance your debt and pay it off as quickly as you possibly can!

Tips to refinancing your credit card:

- Secure the lowest possible interest rate

- Avoid paying additional annual credit card fees

- Read the terms and conditions

Most people end up falling into the trap of signing up for a credit card for every day purchases without being able to pay the outstanding amount back by the end of their 30, 45 or 60 day interest free term. In the end, they're stuck paying back hundreds of dollars in interest alone.

The first thing to do when you have an outstanding amount on your loan is to pay off your debt as soon as possible. This may mean setting aside a certain percentage of your monthly salary to help pay off your debt and sacrificing the things you enjoy. On most cases, you would be advised to refinance your debt first, to avoid paying a high interest rate.

Refinancing your credit card debt can mean you can reduce your interest rate from 20% to 0.99% for the first 12 months, helping you pay off your debt sooner.This mean that instead of paying an extra 20% on your outstanding balance, you'll only pay an additional 0.99%.

Under most circumstances, I would advise that you don't refinance by adding the outstanding debt to your home loan. This will only make things worse!

Once your credit card loan is paid off - cancel your credit card and close your account!

My advice is that instead of having a credit card for every day purchases, use a debit card. This will allow you to use your own savings funds when making purchases. Be sure to check your online bank statement daily or at least weekly to track your current spending patterns to ensure that you still have sufficient funds in your account instead of overdrafting on your loan (that is, exceeding your balance). Where ever possible, try using cash. This will also assist you in managing your spending whereby you can only spend what money you have in your wallet at the time.

Do you have any debts?

See results


    0 of 8192 characters used
    Post Comment

    • DeviousOne profile imageAUTHOR


      6 years ago from Sydney, Australia

      Thanks for the positive comment =) I guess we've just been able to learn and understand certain important things in life. Hopefully the message can get out there to help people out.

    • sgbrown profile image

      Sheila Brown 

      6 years ago from Southern Oklahoma

      Hello Devious One. This is a great hub! We seem to think a lot alike. I wrote one a while back, telling people the same things. Great mind think alike! Voted up, useful and sharing! Have a wonderful day! :)


    This website uses cookies

    As a user in the EEA, your approval is needed on a few things. To provide a better website experience, uses cookies (and other similar technologies) and may collect, process, and share personal data. Please choose which areas of our service you consent to our doing so.

    For more information on managing or withdrawing consents and how we handle data, visit our Privacy Policy at:

    Show Details
    HubPages Device IDThis is used to identify particular browsers or devices when the access the service, and is used for security reasons.
    LoginThis is necessary to sign in to the HubPages Service.
    Google RecaptchaThis is used to prevent bots and spam. (Privacy Policy)
    AkismetThis is used to detect comment spam. (Privacy Policy)
    HubPages Google AnalyticsThis is used to provide data on traffic to our website, all personally identifyable data is anonymized. (Privacy Policy)
    HubPages Traffic PixelThis is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized.
    Amazon Web ServicesThis is a cloud services platform that we used to host our service. (Privacy Policy)
    CloudflareThis is a cloud CDN service that we use to efficiently deliver files required for our service to operate such as javascript, cascading style sheets, images, and videos. (Privacy Policy)
    Google Hosted LibrariesJavascript software libraries such as jQuery are loaded at endpoints on the or domains, for performance and efficiency reasons. (Privacy Policy)
    Google Custom SearchThis is feature allows you to search the site. (Privacy Policy)
    Google MapsSome articles have Google Maps embedded in them. (Privacy Policy)
    Google ChartsThis is used to display charts and graphs on articles and the author center. (Privacy Policy)
    Google AdSense Host APIThis service allows you to sign up for or associate a Google AdSense account with HubPages, so that you can earn money from ads on your articles. No data is shared unless you engage with this feature. (Privacy Policy)
    Google YouTubeSome articles have YouTube videos embedded in them. (Privacy Policy)
    VimeoSome articles have Vimeo videos embedded in them. (Privacy Policy)
    PaypalThis is used for a registered author who enrolls in the HubPages Earnings program and requests to be paid via PayPal. No data is shared with Paypal unless you engage with this feature. (Privacy Policy)
    Facebook LoginYou can use this to streamline signing up for, or signing in to your Hubpages account. No data is shared with Facebook unless you engage with this feature. (Privacy Policy)
    MavenThis supports the Maven widget and search functionality. (Privacy Policy)
    Google AdSenseThis is an ad network. (Privacy Policy)
    Google DoubleClickGoogle provides ad serving technology and runs an ad network. (Privacy Policy)
    Index ExchangeThis is an ad network. (Privacy Policy)
    SovrnThis is an ad network. (Privacy Policy)
    Facebook AdsThis is an ad network. (Privacy Policy)
    Amazon Unified Ad MarketplaceThis is an ad network. (Privacy Policy)
    AppNexusThis is an ad network. (Privacy Policy)
    OpenxThis is an ad network. (Privacy Policy)
    Rubicon ProjectThis is an ad network. (Privacy Policy)
    TripleLiftThis is an ad network. (Privacy Policy)
    Say MediaWe partner with Say Media to deliver ad campaigns on our sites. (Privacy Policy)
    Remarketing PixelsWe may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites.
    Conversion Tracking PixelsWe may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service.
    Author Google AnalyticsThis is used to provide traffic data and reports to the authors of articles on the HubPages Service. (Privacy Policy)
    ComscoreComScore is a media measurement and analytics company providing marketing data and analytics to enterprises, media and advertising agencies, and publishers. Non-consent will result in ComScore only processing obfuscated personal data. (Privacy Policy)
    Amazon Tracking PixelSome articles display amazon products as part of the Amazon Affiliate program, this pixel provides traffic statistics for those products (Privacy Policy)