Credit Card Debt:

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!

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 yearDaskaloff 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 = $11.202. Average Daily Balance -- finance charge = $13.603. Previous Balance -- finance charge = $16 (p

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.

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.

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.