Hi Vishal,
Like you, Every second immigrant has the same thoughts and plans while landing....to start own business...But I see only 10% of them are able to actively initiate and start businesses after experiencing the reality here....and only 1% of them succeed and make profit. With no return out of investment, most of others end up shutting down their ventures.

Good Luck.

Good response by Sankaracharya...
I guess you have good knowledge of business in US & Canada.Another thing is you write in detail that really impress me.As i always try to finish in short answer some time.
Thanks for sharing info Sankaracharya.

-----------------------------------------------------------------
http://www.youtube.com/watch?v=YMVuD_in67M

E mere vatan ke logo.............

If you want to do something for our country, just dont support corruption or be part of it

Dear TK Saab,

If I am not wrong usually credit card 1% to 2.9% are monthly interest rates while 3.5% and 6 to 8% are per annum rates.

Oh! LD,
I never knew that. Thanks for the explanation.
Lana, You should be aware of this too.
Can others confirm please.
TK
Sidenote : I know an individual who borrowed a facility like this from TB bank fo 3.9% or so and sent it to india to buy land in B'lore. He said that he did not check his bank statement. I will inform him about your post. Thanks once again for bringing it to my attention.
Sidenote 2 : i think yesterday i saw Citi group giving balance transfer with 0% APR.

-----------------------------------------------------------------
I am a Gents and not a Ladies.

My visa has ~19% - that's per year.
And any saving account gives around 2-4 or 5% per year.

Dear TK Saab,

You are perfectly right. 0% APR on credit transfer is smartest game in town. It is 0% till next bill, or for a fixed time, say at the most 6 months. Then the tanks roll in. The bank assumes that you would not be able to pay off entire credit in one go and the 18% to 36% APR for a few months would do the trick for them.

However if you are in complete control of your finances, 0% APR credit transfer can be used beneficially for temporary periods. Chances are one would slip in escaping with 0%, and banks are banking on it.

Second thing some of us do not know is that when there is something outstanding against a credit card, when we have not "paid in full", the interest starts from date of each purchase itself and we are not allowed the 30 -45 days "credit" period of a "credit" card.

For example, if I buy a TV worth CAD 200 on 1st April and my credit card bill is raised on 30th April, it would include interest for period of 30 days, before it even reaches me.

That means always paying interest @ 18% to 36% APR for ALL our transactions on that credit card, sometimes it may go on for years together!

Quote:

---

Originally posted by tamilkuravan

Oh! LD,
I never knew that. Thanks for the explanation.
Lana, You should be aware of this too.
Can others confirm please.
TK
Sidenote : I know an individual who borrowed a facility like this from TB bank fo 3.9% or so and sent it to india to buy land in B'lore. He said that he did not check his bank statement. I will inform him about your post. Thanks once again for bringing it to my attention.
Sidenote 2 : i think yesterday i saw Citi group giving balance transfer with 0% APR.

---