Avoid Credit Card Pitfalls

Choose a credit card and use it wisely. Look out for hidden fees. No annual fees are the best. Higher debt limits help you with your usage ratio and your fico score.

Here are 4 tips to help you avoid those nasty credit card pitfalls. It is essential to remember that your credit rating score is calculated partly based on usage ratio. This ratio is determined by dividing your full debt total with the total available credit on your card. In this regard, it will be to your best of interest to have a higher ceiling limit so that you don’t end up using too much of the said utilization. Here are some tips to help you avoid the many credit card pitfalls you may encounter when using it.

four credit cads
Credit cards are useful, but you must use it wisely.




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Want To Pawn Your Jewelry?

As with any loan, familiarize yourself with the terms and conditions of the loan when you pawn your jewelry. Be ready with a strategy to negotiate.

There is an upsurge of many people in the middle and upper class selling or pawning their jewelry, gold and even their xbox 360, as an alternative to short term loans. When in hard times, many want to know how to pawn something. Below are tips on how to get the best price at a pawn shop.

Before locating a pawn shop nearby, you might first want to look at the terms online.
Before locating a pawn shop nearby, you might first want to look at the terms online.

Familiarize yourself fully with the terms of the loan. This will help you avoid high expenses on interests and you can offset the loan in a timely manner. You may want to first look at the loan terms online before you make a face to face negotiation.

1. Select a well known or reputable pawn shop. Dingy pawn shops may give you a questionable deal.

2. Decide on whether it is a loan or selling that you want. Selling always attracts more money and most pawn dealers will give you up to 20% more than they would for a loan.

3. Get the correct valuation for your jewelry through a professional.

4. Familiarize yourself fully with the terms of the loan. This will help you avoid high expenses on interests and you can offset the loan in a timely manner.




5. Look around and learn to negotiate. Many jewelry outlets pay well when gold prices are high, so do not limit yourself to the first that you come across. Look around and compare rates, you can also do so online. Have your gold /jewelry appraised and carry that documentation along when you visit the pawnshop. If it has its original packaging, that even adds more value. Do not fear to haggle and bargain when negotiating, it is expected at these pawn shops.

6. Good quality goods are a prerequisite with pawnshops. This way, they get sold quickly. Polish your jewelry and let it be very attractive; it will earn you a good return. This is true and you can count on getting instant cash for gold, jewelry, firearms and watches.

7. Have a sob story as pawn dealers prey on the emotional attachment a seller/ loan seeker has to the commodity such as a family heirloom to assess their financial situation and the ability to pay. Do not act desperate or you may get less money from the pawn broker.

Caution:

  • Expect a big devaluation on your goods
  • Walk around different pawnshops and compare the prices being offered
  • Look at other alternatives like going to a jewelry shop or online auction sites.

On the flip side, you may visit a pawnshop for purposes of purchasing some items. What is generally recommended includes:

  • Tools – Home tools for do it yourself jobs around the home can be quite expensive when bought as new. A visit to the pawn shop can save you a bundle as their rates are unbeatable.
  • Jewelry – The prices here are virtually half on all jewelry and yes, they are the real deal.