If you possess a credit card with a huge amount of debts and could only devote small monthly payments to paying off the outstanding amounts, then you might want to try balance transfers credits cards to lessen your burden. A lot of people transfer their balances from one card to another and taking advantage of new and fresh offers. This is basically known as rate surfing or card jumping.

Getting a cheaper rate: reduce your interest payments!

Balance transfer credit cards can be very useful in reducing interest rates on bank loans and other loans. If your credit limit is high then you might just be able to complete your loan payment. Some credit cards even provide checks solely for this purpose, however, you need to be very cautious about this. There are some cards checks that can cost higher rates more than the card itself. It is advisable to carefully read the fine print first before anything else. Most credit cards are generous enough to allow you in making balance transfer. This is the best resort after undergoing intense shopping spree.

Choose your balance transfer card

There are two types of balance transfers that you could choose from. A lot of companies offer consumers a chance to male balance transfers for a 0% rate at a certain fixed period, which may run from6 to 9 months. The moment the card expires, the rate of the outstanding transferred balance will go back to the standard rate. This will come out to be naturally a higher rate. The best way to utilize the benefit of 0% transferred balance is to get a new one before the credit card expires. You can transfer your remaining balance to a new credit card and continue the benefit of having 0% interest rate.

Don’t apply for too many cards

Be sure that you won’t apply for numerous credit cards all at the same time as this may affect your credit rating. Another type of transaction balance offer is the fixed rate of money that can be transferred granting that it will remain on the card. This is quite a good option if you are paying a high interest rate. This will offer a rate of 5% that is much lower as compared to the standard interest rates. Which ever type you choose, it will be a great help in lifting your burden in paying your outstanding balances.

Check the Purchase Rates, too!

Consider also the purchase rates of the credit card. This kind of offer allows you to check certain rates that can be applied to your purchases. Credit cards that offers lows transfer balance rate most of time have higher rates of credit card expenditure. It is also advisable that you make your payments to lower rates at first. This means that you will be paying a little because of spending on your credit card.

Regardless of the type of the card balance transfer, each of them have their own offer that could be of great advantage which basically depends on the outstanding amount of your debts and the way you spend and pay your balances. Shopping around with a balance transfer card in hand could give you a lot of savings.

We’ve been swapping out our existing bulbs at school for the new energy saving bulbs, and cutting our use of energy by 40%, but we completely forgot about the 9 spotlights we put up about five years ago. Each of them has been consuming about 50W and we’ve been burning them 8-10 hours a day! It was only a few days ago that we realized HOW much each of those spots can burn, 450 watts or the equivalent of nearly 1.5 classrooms. But we only burn the lights in the classrooms about 4-5 hours a day, so we’re basically using them for nearly 2 or 3 times the regular classroom use, just for spots!

After seeing the ads in a local newspaper, I started investigating LED spots (there don’t seem to be any other type for energy saving), the usage seems to be between 2~4 watts: a considerable saving on power consumption. Also, the lights are cool, not hot to touch. And with an expected lifespan of 30K hours, it should be a sensible replacement. Except I couldn’t find any in B&Q… I’m looking for this type: LED Lamp with GU10 twist lock fitting, intended to replace halogen reflector lamps. (Thanks, Wikipedia!)

It seems the technology is evolving but is somewhat expensive, cumbersome to produce, and prone to problems with not producing enough light. We bought two samples: one to replace a full-size traditional bulb. It was quite expensive (NT$495), and when installed it was relatively dim compared to traditional bulbs and even the new energy saving bulbs. Also the light color was quite cold (almost white/blue). It is ideal for garages, less seldom used hallways, but for livingroom light these LEDs have some way to go. But the wattage was a little over 2.5w compared to over 100w regular bulb, it’s quite a saving and it should last quite a while. We already have a place for it.

At home we’ve reduced also our consumption of electricity for light from over 600 watts to a more respectable 325 watts. But we are using candle type bulbs, we can’t find anything in LED that resembles the shape, light color, or size that we need. I’ll keep looking. In the meantime, I was surprised at the different kinds of lighting that LEDs make possible. Click on the link in the image above, you’ll see some more unusual uses.

Are LEDs a good choice for InvestorBloggers? Perhaps: look at some of the companies producing or selling LED lights…