Page 34 - Winning The Credit Game Bundle (CK Patrick)

22 THE CREDIT GAME

1. Research until you find at least six different options that are
available to you to procure this financing.
2. Of the six options you find, carefully review their terms and
interest rates.
3. Choose the option with the lowest interest rate to add to your
credit roster.

Again, I would advise waiting until you have worked all the way
through this book to ensure that you get the best possible terms and
make the most strategic plays. But if life happens in the meantime, be
conscious of the terms you are agreeing to and the fact that there are
always multiple financing options available to you.

KNOW YOUR LATE FEES & OVERDRAFT FEES

Late fees are another way we can lose more money than we realize.
These often come out to cost us less than interest rates because they are
typically small, flat, fixed fees. But paying several late fees can add up
to over $100 per month just going to late fees, and not helping you
afford anything you want!
Late fees can also apply to things that interest rates typically don’t,
such as late fees on rent payments. Some creditors may charge both
interest rates and late fee payments, which can add up very quickly.
For each line of credit or monthly bill that you are struggling to pay,
look up what your fee for late payment is and list them here. This will
help tell you what bills you should prioritize paying first if you can’t
pay all of them on time in order to save the most money:

Bill 1: ________________________________________________
Late fee amount: _______$ Kicks in after what date?
___/___/______
Bill 2: ________________________________________________
Late fee amount: _______$ Kicks in after what date?
___/___/______