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IberiaBank Visa Classic

Intro APR: 8.75%

Issuer: IberiaBank

Annual Percentage Rate for Purchases. A variable APR will apply to balances attributable to purchases: 8.75%, 12.25%, or 15.25% as of 6/1/09, depending on your creditworthiness. Annual Percentage Rate for Balance Transfers 1.99% APR for 6 billing periods from the posting date of the balance transfer check, after that 8.75%, 12.25%, or 15.25% as of 6/1/09 based on your creditworthiness* Other APRs A variable APR will apply to balances attributable to cash advances and convenience checks: 12.75%, 16.25%, or 19.25% as of 6/1/09, depending on your creditworthiness. Default APR: 22% on all balances**. Variable Rate Information Your APRs may vary. The rates are determined monthly by adding the Index (described below) and the following spreads: 5.50%, 9.00%, or 12.00% per annum, depending on your credit worthiness, for the APR for credit card purchases. 9.50%, 13.00%, or 16.00% per annum, depending on your credit worthiness, for the APR for cash advances and convenience checks. The Index for each billing cycle, is the highest ( U.S. ) “Prime Rate” published in the Money Rates table of The Wall Street Journal during the calendar month immediately preceding the calendar month in which the billing cycle ends. If the index has changed, the new variable rates will take effect as of the first day of the billing cycle. Grace Period for Repayment of Balances for Purchases: You have 25 days to repay your balance for purchases before a finance charge on purchases will be imposed. If the new balance is not paid in full within 25 days, a finance charge will apply to both the balance remaining (including current billing cycle transactions) and to all transactions during succeeding billing cycles until the new balance is paid in full. Method of Computing the Balance for Purchases: Average daily balance method (including current transactions). The finance charge for a billing cycle is computed by applying the "Monthly Periodic Rate" to the average daily balance of Credit Purchases, which is determined by dividing the sum of the daily balances during the billing cycle by the number of days in the cycle. To get the "Monthly Periodic Rate" applicable to the current billing cycle, the APR in effect is divided by 12. Each daily balance of Credit Purchases is determined by adding to the outstanding unpaid balance of Credit Purchases at the beginning of the billing cycle any new Credit Purchases made on your account, and subtracting any payments as received and credits as posted to your account, but excluding any unpaid Finance Charges. Annual Fees: None. Minimum Finance Charge: $1.00 Transaction Fee for Purchases: None Transaction Fee for cash advances: All cash advances (excluding balance transfers) 5% of the amount of the advance, but not less than $5.00, no more than $100.00. Transaction Fee for balance Transfers: 2% of the transfer amount Other Fees: Late Payment Fee: $15.00 for balances less than $100.00 $29.00 for balances of $100.00 to $1000.00 $35.00 for balances greater than $1000.00 Over-the-Credit-Limit Fee: $35.00 Insufficient Check Fee: $35.00 Foreign Transaction Fee: 2% of the transaction amount for all transactions where the merchant country is not the United States, regardless of whether a currency conversion occurs.

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Nearly every financial adviser always advises that debts should be paid off in a particular order: from highest interest rate to lowest interest rate. While this method makes sense from a mathematical point of view, it makes less sense from a psychological point of view.

Psychologically, 7 outstanding debts "feels" more overwhelming than 2 outstanding debts even if they are at the same total balance. Many people are struggling with debt and have tried on several abortive attempts to eliminate their debt using the highest-to-lowest method, and each time they failed. Why?

Because this payoff plan does, indeed, make the most financial sense if you have the discipline to adhere to it. By paying off the high interest rate debt first, you are minimizing the total you will eventually pay in interest. But this method does not work for everyone.

For many debtors, their highest interest rate debt was also their debt with the highest balance. Psychologically, they felt defeated; they could pay on this debt for months at a time and never seem like making the progress.

Dave Ramsey, the financial expert and the nationally-syndicated talk radio host of The Dave Ramsey Show has introduced "Debt-snowball Method" as the alternative to the highest-to-lowest method in paying off the debt. His method had been recognized to make more sense from a psychological point of view.

How's Debt-snowball Method Work?

The basic steps in the debt snowball are:

List all debts in ascending order from smallest balance to largest.
Commit to pay the minimum payment on every debt.
Determine how much extra can be applied towards the smallest debt.
Pay the minimum payment plus the extra amount towards that smallest debt until it is paid off.
Then, add the old minimum payment from the first debt to the extra amount, and apply the new sum to the second smallest debt.
Repeat until all debts are paid in full.

In theory, by the time the final debts are reached, the snowball will be "rolling" quickly as it has picked up a lot of financial mass. Hence, larger debts will be paid off faster.

Let take an example to illustration the Debt-snowball Method. Assume a typical young woman in her mid-twenties who awakes one morning to realize that she's in debt and decides to do something about it. She might be burdened with the following hypothetical liabilities:

$30,000 college loan at 5%
$10,000 credit card balance at 12%
$2,000 computer loan at 10%
$3,000 car loan at 4%

The highest-to-lowest method would advise her debt to be paid off in this order:

$10,000 credit card balance at 12%
$2,000 computer loan at 10%
$30,000 college loan at 5%
$3,000 car loan at 4%

But, using the Debt Snowball method, she should organize her debt from smallest balance to largest balance as follow:

$2,000 computer loan at 10%
$3,000 car loan at 4%
$10,000 credit card balance at 12%
$30,000 college loan at 5%

After you have listed your debts from smallest to largest; pay the minimum amount on all of them except the smallest. Throw every dollar you can scrimp and save against your smallest debt until it has been eliminated, then move on to the next-smallest debt.

Summary

In short, the Debt-snowball Method is another method to help a debtor to clear off his debt in more psychological way: by reducing the number of debts first as compare the total debt amount. Those who are unsure of their ability to stick with the plan may want to pay the smallest debt first, because the thrill of eliminating an entire balance sooner may encourage them to continue.

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Did you see a new marketing method recently either at your home, or maybe online? Maybe you learned something you never thought to do, and you're dying to give it a try? Or did you speak to your friend, who told you about his friend who used this new and totally 'fail-safe' approach to marketing that made him thousands of dollars in a day? Why is it that you can never MEET this 'friend'?

It's a tough thing not to pay attention to those few people who make a lot of noise. They talk about ideas that promise big returns with almost no work, in almost no time. It sounds great, but unfortunately, as you know more often than than not those big dreamy techniques provide little more than deflated results, and a deflated wallet.

You see those big promises in certain markets especially. There's some new marketing technique that nobody has ever heard of, and supposedly it gives you such a big return because of this new angle that you and others like you are doing everything in your power not to just sign up and fork over the cash right then and there! But this can be dangerous to your bottom line or even your entire business.

Whenever you try out a new marketing idea, it's important to proceed with caution.

Here are The Select 7 Marketing Tips:

1. Not broken? Don't fix it.

If you've been in business. You've been making money and bringing clients to yourself using your own methods of marketing. Don't just stop everything and throw it all away if you read something new. It sounds crazy but people actually trash their entire marketing plan if they get caught up in big money promises. Trying to augment it, or improve upon it is fine, but abandoning it altogether is insane.

2. It's OK to be Testy.

Instead of total abandonment, test out your new ideas on a small percentage of the customers or prospects on your mailing list. About 10% will suffice. Study how that small portion responds, and then you can introduce the idea into more and more of your marketing as long as it proves to you that it's working. Test on some, see if it works, apply it to more. Repeat this process continuously.

3. Measure your results in order to determine what works best.

There's no reason to try something new if you're not able to see what works. For example, I recently tested a different approach on a page of my website that is solely dedicated to generating subscriptions for my newsletter. To see if the new copy worked, I sent prospects coming from one online source to the new page and tested the old version of copy against the new. I then tweaked the version that worked best until I found a balance that got the best response from my target audience of small business owners.

4. Marketing is NOT Magic.

Just as there's no magic bullet in medicine. There's no magic bullet in marketing. People spend money developing, and customizing ideas to their specific budgets, markets, and industries. That's probably how you developed your own marketing plan. A marketing plan is developed over time. That's how it becomes a solid, successful, proven approach. It's a common marketing statistic that a potential customer will need to see or hear your ad up to 7 times before it starts to have an effect, so keep that in mind while you're waiting for responses. When you start trying out new ideas, don't set unrealistic goals to see a return. Good Marketing takes time, but as you know, when it's done well, IT WORKS!

5. Resist Big Money Claims

All too often I run into prospects who come to me with testimonials they found on some new marketing, business, or 'guru' site. They're so eager to join because of how GOOD the testimonials sound. 'I made Millions overnight'! It's a big claim, and it gets attention.

Now I'm not saying that those testimonials aren't as real and true as they're depicted. I have no way of knowing, and unfortunately, neither does anyone else who visits the website. Usually though, you don't go into a law office and see a testimonial of some guy's face screaming: 'We made millions!'. Instead you'll see plaques on the walls from professional institutions, which can be verified,or you'll see news clippings from big name cases, which can also be verified. Either way, it's important to remember that although many people make millions every week around the world, the VAST majority of people don't, no matter what field it is.

That doesn't mean you won't be a millionaire, it simply means, don't rush to join a site just because you see a picture and the phrase: 'I did it!'. Do your homework, and be smart.

6. Have a New Idea? Try it, but ...

DON'T stop the marketing that has gotten you results over time. Start small by introducing only using 10% of your marketing resources to this new venture. The other 90% should be left alone. When you start changing things, you want to make small moves because large ones can cause destabilization. Many business owners have unfortunately lost huge sums of money because they didn't just 'try out' a new marketing technique. They learned some new method and then through out EVERYTHING they had been doing for this new 'Magic Technique'. There's no reason to take away your safety net. Start small, and you won't miss the next big idea, but you won't be left behind either. Prudence pays.

7. Step Away, Come back.

Very simple. Don't rush.

It's definitely easier said than done. The fact is that reading about quick money, and big success is a huge temptation! It seems like everyone on this site, or in this book became a millionaire! Right? Your blood starts pumping. It's tough not to sign up right then and there. But don't. The precise reason 'businesses' use those blood-rushing stories and words is so you will make your decision from that emotionally-based feeling place, rather than a calm, attentive, intellectual-based place. It's tough, though, isn't it? Especially once you get started, so the important thing to do is give yourself some time.

Is it difficult to do? Yes. But when you're talking about business, when you're talking about money, when you're talking about your livelihood, you owe it to yourself and your family to make a smart, educated, calculated decision. So let a few days pass, even 2 or 3 will do. It'll still be there. Do a bit of research and then make your choice.

Recap:

In any business, changing your marketing methods will not only be important to stay on top of new techniques, it's VITAL that you alter things as the economy, prices, and our culture changes. You're always going to be learning, but when you implement new concepts, be safe - protect your business. Do your homework, and talk to people you KNOW are successful. Make small changes and go with the ones that experience shows you are working. That's the only true way to build a solid marketing portfolio.

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