One Finance Place

Its a geek fact that east asians are obsessed with USB and would put any thing to USB.

Finally something that normal people can use, a USB credit card. The USB credit card is setting the blogosphere on fire. If you didn’t know already this is created by a company called Shinhan, Korea’s biggest card company and will enter your credit card details when inserted to the computer for you.

But what will make this an awesome innovation if this can be made the only financial card you ever need ! Here are some of my suggestions:

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Anyone who has one or more credit cards reaching the upper spending limit may think that opening yet another credit card account would be a bad thing to do. If you were considering this as just another way to obtain more credit, then yes it might be a terrible idea, but on the other hand, if used correctly, it could be a major boon. Confused? Then read on.

If you have a credit card, and are currently finding the monthly repayments painful, it could pay you to search about for better credit card offers, with a lower overall interest rate. If you are successful in find the right kind if credit card, you will then be able to take advantage of the balance transfer facility. A balance transfer is a term used to describe moving the money you owe on one credit card to a different credit card. If you move this debt from a card with a higher interest rate than the card you are moving it too, you will have lower monthly repayments. A low interest credit card may have an interest rate as much as 50% lower than the average Australian credit card rate which is now over 20% following recent rate rises.

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