The purpose of this post is to want to talk about West Fargo secure business credit cards, it's a card that can be used anywhere that MasterCard is accepted.
For WellsFargo com mynewcard home rebate and first, the plan relies on Wells Fargo's mortgage holders to open a credit card, known as the Wells Fargo Family Rebate Card.
From there, each use of credit cards to buy will get a 1% rebate, which will be charged to your bank mortgage loan principal balance of $25 in increments.
In other words, if you use a credit card spending $2500, you will receive a $25 rebate, which will apply to your outstanding mortgage balance.
For example, if you have a 30-year fixed mortgage with a loan of $200,000 and you spend $2,500 a month on your card, Wells Fargo will apply for $8,525 from your principal balance during the loan period.
This will save you $7,833 in interest and a total of $16,358 (short amortization period).
It will also give you the loan period is shortened from 30 years to 28 years and 7 months, which means that you can have free your house, and you can quickly clean.
All of this is done automatically, and you don't have to pay any fees or work to attend.
In addition, Wells Fargo (Wells Fargo) family discount card holders can get 3% from the purchase of gasoline, grocery and pharmacy in the first six months of the discount.
Like other concessions, Wells Fargo's family discount card also has its advantages and disadvantages.
The first factor is negative, it needs to open a credit card, which is essentially an invitation, in addition to your big mortgage more debt.
If you've purchased most of the goods with credit cards, it's all very well, but it may make an irresponsible spender take on more debt.
Secondly, through this program, only 1% rebate today many credit card cash rebate level higher, some credit card each quarter 5% rebate, or throughout the year to provide 2-3% rebate.
In other words, technically, you can take back the cash earned by other credit cards and use it for the principal of your Wells Fargo mortgage or any other mortgage.
Or you can pay the extra principal yourself, or you can pay the mortgage every two weeks.
Finally, in the project's terms and conditions, Wells Fargo Bank pointed out that if they put your mortgage to another company, your mortgage is not qualified. To make matters worse, they can decide the shelf of the program at any time.
Now, these two things can't happen, but in the discussion of how to use the credit card problem and still need to bear this in mind.
On the other hand, family rebate cards are automatic, so you don't have to worry about the lack of discipline in paying extra principal.
As long as you use credit cards enough, the extra principal will be paid, and over time, your mortgage will cost less.
Is the incentive enough for Wells Fargo's mortgages? Probably not, but if all other conditions are the same (such as mortgage rates and cost the same), it may make the transaction in favor of the bank.
If you already have Wells Fargo mortgages, many Americans do, and if you spend most of your money on credit cards, that's worth considering.