Applicant #3: Matt Markivee

Matt Markivee is a 18-year-old from O'Fallon.

Matt's video application:

Matt online:

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Matt's current situation:

I'm a young and energetic guy with plenty of great ideas! If I’m not free running around town, I can typically be found filming or editing short films with my friends. I have a deep love and passion for media and communicative arts, and have high hopes of one day planting my roots in Hollywood as a professional film director. I recently got a job as a lifeguard for the city of O’Fallon, and love every bit of it. I’m an active political enthusiast, and hold a position on my mayor’s advisory council. I’m a director by trade, an actor by birth, and I want to be your next Young and Free St. Louis spokesperson!

Matt's blog post:

There is big business in credit cards nowadays since there is a fortune to be made from finance charges. Most credit card company’s annual percentage rates (APR) average 16% and can go as high as 28%. High interest rates make it difficult for the consumer to pay the principle down, because the interest continually adds to the principle. Fortunately, credit card companies are so eager for our business they created the balance transfer.

Balance transfer are designed to assist costumers in consolidating debt from multiple credit cards to one single card enabling them to save money from interest fees. Several card companies have introductory offers with an APR as low as 0% for balance transfers for credit cards.

The primary benefit of a 0% APR credit card is the introductory 0% APR interest rate. This rate is usually available anywhere from 3 to 12 months from when the credit card account is opened, and depending on the card offer, it will be applied to new purchases, balance transfers or both.

Savvy consumers will find this process is very effective in shrinking their credit card debt. It allows the customer to be free to pay off the balance on a card without receiving interest charges. Utilizing this strategy, the individual could open an account with the new company that offers a balance transfer once the current one expires. Then they can carry-over the entire balance to the new credit card and take advantage of their introductory offer on finance charges. Make sure you close your old account when doing a balance transfer.

A Balance transfer is a great opportunity to gain control of your finances, but remember diligence is necessary. Often there are hidden fees buried in the fine print of your credit card contract. There are some banks that require you to pay a percentage of the balance you transfer. Make certain that this amount contains a cap, like $50.00 or $75.00; otherwise a transfer in the 1000s could wind up costing you $200.00 or more. Also, know the annual fee or joining fee your bank will be charging you. The company is already receiving your business, so making sure you have the upper hand in a balance transfer would prove quite beneficial.

Matt