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129 of 131 people found the following review helpful
5.0 out of 5 stars If you use credit cards buy this book today
Want to be a freeloader? " 'Freeloader', in terms of financial lending, is a consumer who doesn't pay interest because he always pays off his balance due on time." (p.115)
If you have no credit cards or if you pay all your balances in full every month, then skip this review. For everyone else in the world, BUY THIS BOOK!
I've never come right out...
Published on December 16, 1999 by A. C. Shellhase

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307 of 311 people found the following review helpful
3.0 out of 5 stars Good Credit? Then good book!
If you're "in deep", this is NOT the book for you. If you're credit card bills are basically high, but you still have available balance and essentially good credit, this book contains some good nuggets you can walk away with.
If you have high bills, no available credit, can't get more credit, and are paying as much as you can, this book won't help you...
Published on December 28, 1999 by E. McCabe


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307 of 311 people found the following review helpful
3.0 out of 5 stars Good Credit? Then good book!, December 28, 1999
This review is from: Credit Card Debt: (Mass Market Paperback)
If you're "in deep", this is NOT the book for you. If you're credit card bills are basically high, but you still have available balance and essentially good credit, this book contains some good nuggets you can walk away with.
If you have high bills, no available credit, can't get more credit, and are paying as much as you can, this book won't help you much (and if you had to buy it here with a credit card, you're just making things worse!)
The basic premise is to use your available credit on your lower interest rate cards to pay your higher ones. It's much more detailed than that, but if you can't do that, then I'd recommend another book (I'm still looking). It does NOT tell you how to write to credit card companies asking for help (Hey, I can't pay that much, but I want to pay something..) It also does NOT give you instructions on what your rights are if you are overburdened by credit card debt. It gives BRIEF mention of bankruptcy, but that IS a book in itself.
In summary, if you have disposable income and some credit card debt, and are looking for ways to pay the debt off faster...get the book. If you're over your head, and looking for ways to stay afloat, don't get this particular book.
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129 of 131 people found the following review helpful
5.0 out of 5 stars If you use credit cards buy this book today, December 16, 1999
By 
This review is from: Credit Card Debt: (Mass Market Paperback)
Want to be a freeloader? " 'Freeloader', in terms of financial lending, is a consumer who doesn't pay interest because he always pays off his balance due on time." (p.115)
If you have no credit cards or if you pay all your balances in full every month, then skip this review. For everyone else in the world, BUY THIS BOOK!
I've never come right out and blatantly said this before, but the amount of absolutely excellent information in this book coupled with the low price forces me to. Oh, let's not forget the money it will save you, either.
I've had this book on the 'to be read' shelf since August. I should have read it before I decided to close all our credit card accounts except one. I didn't know the leverage I was losing. I do now.
All the conventional teaching tells you to close accounts, pay off the card with the lowest outstanding balance (something psychological about clearing one thing), and then paying all the rest off. Daskaloff suggests paying off the card with the highest interest rate first & NOT close any accounts. Wait until you read why! You'll be completely surprised --well, I was.
Parts of this book will make you do some work. You'll need:
* enlarged copies of all the charts
* a few pencils with erasers
* a calculator or adding machine
* file folders or an expanding file
* all your credit card statements for the last year
Daskaloff walks you step-by-step through the process of seeing exactly what you owe, what your interest rates are, what your flexibility rating is (total credit limit/total balance due = flexibility rating -- anything above 2 is good), how to figure rates for purchases vs. cash advances, and so much more.
He tells you all the bad news about making minimum payments. I didn't know (or never paid attention) that when you make minimum payments the minimum goes DOWN each month, so your payments are less. But, what's happening is that you're actually putting less money on the principal. In some cases, you're not even covering the interest from the previous month. And you're paying forever.
Have you ever received a letter telling you that since you're such a good customer you can 'skip a payment'? That's another no-no. Interest is still accumulating and you're not really saving.
Daskaloff says you should never pay less than the previous months' interest charge. Pay much more if you can. It's the only way to eliminate the debt.
There's a really nifty section explaining how the same interest rate offered on a variety of credit cards can differ. Depending on the terms and how the finance charges are calculated what you pay might astonish you.
One example follows: you have a card with an APR of 19.2%, a balance of $1000. You pay $300 per month on it. Here are the calculations based on how the finance charges are figured:
1. Adjusted Balance --finance charge = $11.20
2. Average Daily Balance -- finance charge = $13.60
3. Previous Balance -- finance charge = $16 (p.103)
This book really will help you get back control of your credit card debt. There are URL's for all three credit bureaus, information about transferring balances, using cash advances, and when to use those checks you get to pay off other cards or buy things.
He also tells you about the various places to get help with your debt, such as credit counseling & working with each company to set up payments you can meet.
Because I used one of Daskaloff's suggestions I was able to have my credit card interest rate not only lowered, but a guarantee for it to stay that way for the next year.
I'm still in awe of all the information packed into 200 pages.
If you'd rather keep your head in the ground, not know how bad off you are, and hope it'll all just go away, then don't buy this book. It'll give you power over your credit, obviously something you don't want!
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50 of 52 people found the following review helpful
5.0 out of 5 stars Great Book, it will help you get out of debt!, October 8, 2000
By 
This review is from: Credit Card Debt: (Mass Market Paperback)
What was nice about this book is the fact that the author provides step by step instructions on how to organize and reduce your credit card debt. It is very easy to follow, however, if you want the books tricks to work for you, you'll need to have more than one credit card, I had three cards. I especially liked the quotes he provides - what you can tell your creditors so that they lower your interest rates. Oh anf if you are the unorganized type (like me) you will find his charts very very useful, I know I did. Also, the author answered my question within a few days by email. You can't go wrong with this book!
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28 of 28 people found the following review helpful
5.0 out of 5 stars This book is credit card specific!, April 25, 1999
By A Customer
This review is from: Credit Card Debt: (Mass Market Paperback)
Of all the books I have looked into, this is probably the one the credit card companies hated to see the most. I have looked into many books regarding personal finances, this is the only one I found that is specificaly about, and only about, credit cards. Alexander Daskaloff has done a great job of informing the consumer of what they can do and say when dealing with credit card companies. If you are looking or help in dealing with your credit cards on matters such as, finance charges, interest rates, late fees, annual fees,ect.; this is the place to get it. This book works both as a source of information and as a project workbook for getting your cards in order. I highly recommend this book, wether you're trying to get yourself out from under your credit card's control, or if you just want to stay one step a head.
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11 of 11 people found the following review helpful
5.0 out of 5 stars I finished the book, and it still helps., May 14, 1999
By A Customer
This review is from: Credit Card Debt: (Mass Market Paperback)
I bought the book last week, and have to say, it has saved me money, but the best part, was when I emailed the author on a question I had, He treated my question with respect, and answered within a few days. I think authors should always offer assistance aside from their books, be behind their work, and Alexander has it on the mark.
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10 of 11 people found the following review helpful
5.0 out of 5 stars Best book on credit cards I've ever read!, November 2, 1999
By 
This review is from: Credit Card Debt: (Mass Market Paperback)
This book will tell you everything you ever wanted to know about credit cards. Even if you don't owe alot like I used to, read this book! Will tell you exactly what to do and lays out a system that can't be beat.
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8 of 9 people found the following review helpful
5.0 out of 5 stars GREAT BOOK!, May 19, 1999
By A Customer
This review is from: Credit Card Debt: (Mass Market Paperback)
I liked the charts, and especially those quotes to lower my interest rates, I now pay a lot less in finance charges each month thanks to the author's advice! Great book.
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17 of 23 people found the following review helpful
3.0 out of 5 stars good information, March 29, 2004
By A Customer
This review is from: Credit Card Debt: (Mass Market Paperback)
All right, here is my review: I think this book is not bad at all. It gives some very useful information about credit cards and credit card issuers. It is always very useful to have this info in your mind, although some of them are really straightforward and clear. Sometimes you need to read it in someonewelse's words even you know it. By the way, if you really don't know how to organize your finances like writing down your balance and credit limit on a piece of paper, you should really read this book!
Ok, that was the good part about the book. What about the rest? Don't we all know how to try to get lower interest from issuer and high interest rate induces high interest on top of your balance in every billing cycle? We know what a transfer balance with promotional rate is etc. and how to use it in our advantage. If you don't, Read this book.
Do you know what is the magical trick behind all of this credit card debt reduction techniques! I'll tell you that. PAY YOUR BALANCES. From no book you cannot get any information about how to reduce your debt without paying money. So, don't spend much, but try to pay as much as you can. Booom, you reduce your credit card debt. That simple.
Last words, this book covers some useful info you might not have known at all. Maybe it should be called "credit cards for dummies". Aren't we all little bit dummy in this field?
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1 of 1 people found the following review helpful
5.0 out of 5 stars Credit Card Debt book, May 10, 2008
By 
lbeeba (Grove City, Ohio USA) - See all my reviews
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This review is from: Credit Card Debt: (Mass Market Paperback)
If you are looking for a lot of good information, and plenty of options on how to help get out of debt this is the book for you. I bought three debt books from Amazon, and this was the best of them all. This book costs the least amount of the three books I purchased. You can refer to this book year after year for refresher ideas.
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1 of 1 people found the following review helpful
5.0 out of 5 stars Freeloader, October 22, 2007
This review is from: Credit Card Debt: (Mass Market Paperback)
According to the author of Credit Card Debt, a freeloader is what credit card companies call the smart individuals who pay off their debt every month (they've gone to a less likable "deadbeat" since the printing of this book).

While the information is almost a decade old, there is still a wealth of knowledge in this book and most of the core principles are still valid. Daskaloff describes the credit card industry in terms of specific credit cards and accounts for specific people: those who pay their cards off every month; those who carry a balance; people who are very disciplined; etc., and this format is very helpful for the average consumer. The book is an easy ready, but one that is recommended for those who want to learn the basics on the industry that is shaping our culture.

All in all, it's a good book and is well worth the $7.
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Credit Card Debt:
Credit Card Debt: by Alexander Daskaloff (Mass Market Paperback - April 6, 1999)
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