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DEBTSMART® EMAIL NEWSLETTER 
ISSN 1538-6740 
June 2, 2004 Issue 75

Tools for financial success! A Free E-Mail Newsletter from DebtSmart Online and Press One Publishing.

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Publisher: Scott Bilker, mailto:publisher@debtsmart.com

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IN THIS ISSUE

==> Cool Quote

==> Letter from the Publisher

==> Credit Junkie

==> Household Math™: Auto Loan Rate

==> “A Valuable Book from Day One!”

==> Fuel Efficient Vehicles

==> DebtSmart Help Center

==> Do You Have Visionary Powers?

==> DebtSmart® Resources

==> Subscribe/Unsubscribe/Disclaimer Information

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COOL QUOTE 
“The only preparation for tomorrow is the right use of today.” 
--Author Unknown

Click below for quotes from all previous newsletters: 
http://www.debtsmart.com/cgi-pl/go/040602_en.cgi?04&7428

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LETTER FROM THE PUBLISHER 
by Scott Bilker

Hi,

A couple items...

DEBTSMART CARD What do you think of a DebtSmart Credit Card? This card would be geared toward helping consumers get out of debt instead of keeping them in debt!

If there are any corporate people from the big banks reading this, and I’m sure there are a few, please write to me at mailto:publisher@debtsmart.com to discuss the project.

MORTGAGES With home mortgage rates rising, the number of people refinancing their mortgages is declining sharply. The Mortgage Bankers Association reported that loan demand fell to 632.4, from 654.1, the previous week and the index of refinancing decreased 6.7 percent, to 1,694.9 from 1,819.9.

I hope you have a great rate on your mortgage. If not, it certainly looks like this may be your last chance to save by refinancing.

Regards, 
Scott

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CREDIT JUNKIE 
by Scott Bilker

Hi,

Mr. Bilker! I'm a big fan but would like to share and get your opinion on what happened to me when I balance transferred several accounts. I'm also a credit junkie so am very aware of the status of my credit reports. FYI, My credit reports have no negative accounts and I want to emphasize all my payments are on time and I never go overlimit.

I paid off many higher-interest rate cards with some of my lower rate and 0% offers. When I did, instead of having several cards with less than 50% usage, I had several cards with 0% usage (the higher rate cards) and several with 70-85% usage (the lower rate cards).

What followed was a dramatic decrease in my credit score of 60 points due to "using at least 50% of credit limit on 5 credit cards." This drop caused alarm in the "risk" department at American Express as they decided to cancel my extended payment option though my 2 cards with them were left open.

I realize you have so many cards, this situation probably didn't impact you, but it has definitely impacted me. I thought it was important to note that even when my overall credit ratio usage went down and is considered positive, the fact that over 50% of the credit limits on several accounts was used resulted in such an extremely damaging score drop.

My question is this: Have you dealt with this situation with your clients and what have you done, if anything, to deal with it?

Again, thank you very much! I hope to hear from you soon!

Carol

Click below to read article: 
http://www.debtsmart.com/cgi-pl/go/040602_en.cgi?05&7428

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AUTO LOAN RATE 
by Scott Bilker

Mary Jane borrowed $9,200 to buy a used car. She made equal monthly payments for 3 years and that paid off the loan in full. After that time she added up how much she paid in total to the loan. She was surprised to find that 14.81% of the total amount she paid back over the course of 3 years were interest charges for the loan! What was Mary Jane’s APR for this loan?

Click below to solve problem: 
http://www.debtsmart.com/cgi-pl/go/040602_en.cgi?06&7428

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“A VALUABLE BOOK FROM DAY ONE!”

“I was shopping for a book that would help me with the credit card debt I have accumulated. I chose this book. It has proven to be very beneficial to me. It contains a large amount of information your banks don't want you to know. My first night of reading the book, I got up to about page 70 and made my first phone call, with the intent of gaining information about the account and possibly getting a fee reversed. I ended up getting a $50 credit to the account, relatively easily. I cannot praise this book enough! If you need to reduce your credit card debt, this book may very well be your solution.” --Monica Rice, PA

Order right now by clicking below: 
http://www.debtsmart.com/cgi-pl/go/040602_en.cgi?07&7428

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FUEL EFFICIENT VEHICLES 
by Kyle Busch

The hybrids cost about $5,000 above the all gasoline cars. The hybrids have most all of the components of a gasoline car plus the electrical components. I believe that the Japanese auto makers are doing "real world" testing for the electric motor, recharging system, etc. In five years, they should have all electric offerings.

The Japanese and the Europeans have micro cars that are fuel efficient. At this time, however, they are not offered to Americans.

Diesels are an alternative. BMW has a 320di with 148 horsepower. It gets about 50 mpg at...

Click below to read article: 
http://www.debtsmart.com/cgi-pl/go/040602_en.cgi?08&7428

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DEBTSMART HELP CENTER 
by Scott Bilker

Hi,

Helping you with your debt is very important to me personally! If you've been reading my articles, you know that I always encourage self-help as a first step. However, being buried in debt can be very overwhelming, which is why you may want to explore other options.

One of those options is professional, ongoing help with credit counselors. I've started to personally check out certain companies so I can recommend the ones that are worth considering!

If you would like to speak with a representative from a...

Click below to read more: 
http://www.debtsmart.com/cgi-pl/go/040602_en.cgi?09&7428

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DO YOU HAVE VISIONARY POWERS? 
by Dr. Jill Ammon-Wexler

Dreams may seem unimportant in your quest for success. And it’s true that ordinary dreams are often a mix of what happened during your day -- mixed with some 'wild' random associations.

But there is more than one kind of dream.

For example: Many ultra successful people use a process of 'waking dreaming' to fuel their visionary powers.

Click below to read article: 
http://www.debtsmart.com/cgi-pl/go/040602_en.cgi?10&7428

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DEBTSMART® RESOURCES

DebtSmart® Books, software, reports, in-print and downloads: 
http://www.debtsmart.com/cgi-pl/go/040602_en.cgi?01&7428

Archive of DebtSmart® Email Newsletters online: 
http://www.debtsmart.com/cgi-pl/go/040602_en.cgi?02&7428

How to use DebtSmart® articles FREE in your e-zine or on your web site: 
http://www.debtsmart.com/cgi-pl/go/040602_en.cgi?03&7428

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HOW TO SUBSCRIBE OR UNSUBSCRIBE FROM THIS NEWSLETTER

All recipients of DEBTSMART® EMAIL NEWSLETTER have signed up voluntarily for the newsletter via our website.

TO SUBSCRIBE to this newsletter, click on the below link and complete the subscription form: 
http://www.debtsmart.com/cgi-pl/go/040602_en.cgi?00&7428

Please contact mailto:comments@debtsmart.com with any comments, problems, or concerns.

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The author(s), Press One Publishing, and DebtSmart.com shall have neither liability nor responsibility to any person or entity with respect to any loss or damage caused, or alleged to be caused, directly or indirectly by the information contained in this email newsletter and/or at the DebtSmart.com web site. The information, methods and techniques described may not work for you and no recommendation is made to follow the same course of action. Every effort has been made to verify the accuracy of all content contained herein. However, there may be mistakes; typographical, mathematical, or in content. This email newsletter and the DebtSmart.com web site have been created for your entertainment only. You must always seek the proper professional advice before taking any financial or legal action. You have been warned.

Copyright © 2004 Press One Publishing. All rights reserved. Please do not reprint, or host on your web site, without explicit permission. However, if you found this newsletter helpful, we grant you permission, and strongly encourage you, to e-mail it to a business associate or a friend. Thank you.