What Do You Need To Know to Apply for a Credit Card?
by sas_upena1
Since finances, especially money is one of the major concerns of many people, a wide array of financial management services and financial options emerged. One of the most visible among the unending line of financial management services there are is the credit card. apply credit cards
When people apply for a credit card, there is always a reason. It can be for managing their finances, needing extra money or in preparation to a big expenditure. But, no matter what the reason is, people apply for a credit card because of the ultimate convenience it brings.
By now, you may have had your share of 'pre-approved' credit card offers in your virtual and physical mail. Since people are quite vulnerable when they apply for a credit card, some credit card issuers lure these people by giving low introductory APR, no annual fee offers among numerous perks. The tendency of this so many alternatives and "value" deals is to sway the person who wants to apply for a credit card. apply credit cards
There are undeniably endless lists of pros and cons when you apply for a credit card, but if you really have decided to apply for a credit card, these are some of the helpful tips that can guide you on your credit card shopping journey. apply credit cards
Actually, there are three easy steps you should follow if you have decided to apply for a credit card. First, surf the net and do some research on credit cards. By doing this, you can familiarize yourself with different credit card terms and types. Second, you can compare numerous credit cards that would best serve your needs and lastly, you may now apply for the credit card of your choice by filling out a credit card application by visiting a bank representative or through online. apply credit cards
In order to find the right credit card fast and easy, first, before you apply for a credit card, make sure you mastered the credit card terms. When you apply for a credit card you must know what a "credit card" really is. Being a form of borrowing that involves charges, credit cards usually have underlying credit terms and conditions affect your overall cost. apply credit cards
So, it's best to compare terms and fees before you apply for a credit card and agree to open an account. Some of the important terms to be understood well include the annual percentage rate or the APR. apply credit cards
When you apply for a credit card, you must know how the APR affects your credit account. Being a measure of the cost of credit expressed as a yearly rate, the APR should be disclosed before you apply for a credit card so that you would not be obligated on the account and on your account statements later on. Aside from APR, the periodic rate must be disclosed to the card holder before they completely apply for a credit card so they would have an idea of their outstanding balance and finance charge for each billing period. apply credit cards
Other important terms to know before you apply for a credit card are free period or "grace period," annual fees, transaction fees and other charges, other costs and feature, and balance computation method for the finance charge like average daily balance, adjusted balance, previous balance, and two-cycle balances. apply credit cards
If you're not that type of person who is patient enough to research on all these terms, make sure that before you apply for a credit card, the issuer will give an explanation how the balance is computed and it must appear on your monthly billing statements. apply credit cards
Monday, April 20, 2009
Credit Card Blocking And How To Avoid It
Credit Card Blocking And How To Avoid It
by Peter Kenny
Have you ever heard of credit card blocking? Do you know what it is and how it might affect you? If you are not sure what blocking is, this article may be able to clear up some of the mystery. apply credit cards
If you were ever told that you were over your credit limit (when you knew you were not over the limit) you may have experienced credit card blocking. This seems to happen a lot when consumers are paying for hotels or rental cars. apply credit cards
When you use your credit card to check into a hotel or to rent a vehicle, the hotel or rental company will normally contact the company that issued your card in order to give them an estimated total of your transaction. The credit card company will then either approve or deny the amount. If the transaction is approved, your available credit is immediately reduced by this amount. This is a block. apply credit cards
An example might clarify the way this works. Assume that you are using a credit card when you check into a $100-a-night hotel and you are going to stay for five nights. At least $500 would be blocked ($100 x 5 nights). Here is where it can begin to get tricky. apply credit cards
If you pay the hotel or rental bill with the same card that you presented earlier, the final charge from the hotel or rental company will replace the block in a day or two. If you decide to pay the bill with a different card, however, the credit card company you used at check-in might hold the block for up to 15 days after you have checked out of the hotel or paid the rental car company. This would be done because they were not notified of the final charge from the hotel or car rental company and therefore would not know you had paid another way. apply credit cards
The reason blocking is used is to make sure you do not go over your credit limit before checking out of a hotel or returning a rental car; both of which would leave the merchant unpaid. apply credit cards
For those people who are well below their credit limit, blocking is usually not a problem. However, if you are getting close to your limit you will want to be careful. Not only can it be embarrassing to have your credit card refused, but it can also present big problems if you need a room or a car and do not have cash in your pocket to pay for them.
Here are some tips to help you avoid being blocked. apply credit cards
Always consider paying your rental car, hotel, or motel bills with the same card that you use at the beginning of the transaction. You may also want to ask the clerk or rental rep to tell you the full amount that they are going to request from the card company. In the event you choose to use another payment method when checking out or paying the final bill for rental make sure you ask the clerk to remove the block. apply credit cards
You may also want to call your credit card company and ask them how long they block credit lines for these types of transactions. If you do a lot of traveling, you may want to find a company that use shorter block times. apply credit cards
by Peter Kenny
Have you ever heard of credit card blocking? Do you know what it is and how it might affect you? If you are not sure what blocking is, this article may be able to clear up some of the mystery. apply credit cards
If you were ever told that you were over your credit limit (when you knew you were not over the limit) you may have experienced credit card blocking. This seems to happen a lot when consumers are paying for hotels or rental cars. apply credit cards
When you use your credit card to check into a hotel or to rent a vehicle, the hotel or rental company will normally contact the company that issued your card in order to give them an estimated total of your transaction. The credit card company will then either approve or deny the amount. If the transaction is approved, your available credit is immediately reduced by this amount. This is a block. apply credit cards
An example might clarify the way this works. Assume that you are using a credit card when you check into a $100-a-night hotel and you are going to stay for five nights. At least $500 would be blocked ($100 x 5 nights). Here is where it can begin to get tricky. apply credit cards
If you pay the hotel or rental bill with the same card that you presented earlier, the final charge from the hotel or rental company will replace the block in a day or two. If you decide to pay the bill with a different card, however, the credit card company you used at check-in might hold the block for up to 15 days after you have checked out of the hotel or paid the rental car company. This would be done because they were not notified of the final charge from the hotel or car rental company and therefore would not know you had paid another way. apply credit cards
The reason blocking is used is to make sure you do not go over your credit limit before checking out of a hotel or returning a rental car; both of which would leave the merchant unpaid. apply credit cards
For those people who are well below their credit limit, blocking is usually not a problem. However, if you are getting close to your limit you will want to be careful. Not only can it be embarrassing to have your credit card refused, but it can also present big problems if you need a room or a car and do not have cash in your pocket to pay for them.
Here are some tips to help you avoid being blocked. apply credit cards
Always consider paying your rental car, hotel, or motel bills with the same card that you use at the beginning of the transaction. You may also want to ask the clerk or rental rep to tell you the full amount that they are going to request from the card company. In the event you choose to use another payment method when checking out or paying the final bill for rental make sure you ask the clerk to remove the block. apply credit cards
You may also want to call your credit card company and ask them how long they block credit lines for these types of transactions. If you do a lot of traveling, you may want to find a company that use shorter block times. apply credit cards
American Express Blue Or Green Credit Cards
American Express Blue Or Green Credit Cards
by sas_upena1
Also known as AMEX, American Express is easily one of the most recognized names in the world of credit cards. Even though many people have Visa or MasterCard credit cards, they are still interested in AMEX. With Visa, MasterCard, and AMEX being the most popular and preferred types of credit cards, they are all great although there are also differences between them as well. apply credit cards
Both Visa and MasterCard are methods of payment. Both will allow different businesses to accept credit card payments using their systems. Neither of the two issue credit cards on their own behalf, instead they rely on banks throughout the world to issue the credit cards for them, provide the credit, and then charge the interest. Your credit card bill goes to the bank, as Visa or MasterCard doesn't see any of it. apply credit cards
AMEX, on the other hand, is very different. American Express has their own payment system, and they also issue their credit cards directly to consumers. Unlike Visa and MasterCard, AMEX runs the entire show. Therefore, when a credit card says American Express on it, you instantly know who has issued the card, what payment system it has, and everything else you would need to know. apply credit cards
Even though MasterCard and Visa are used more throughout the world, American Express is always expanding their networks. Visa and MasterCard are used in over twenty five million locations over the world, including third world countries, which makes them global credit card payments. AMEX on the other hand, doesn't quite reach this degree. It is a great credit card, although it isn't used around the world in areas where the other 2 dominant credit cards are. apply credit cards
You can get AMEX credit cards with rewards, although you'll need to be careful where you look and what you select. Normally, with Visa and MasterCard, you'll have to look at hundreds of banks before you can find the best choice. With AMEX, you can look at their website and find out what they offer and what type of APR you'll have to pay. Most of the time, you can find a credit card with low interest and a great spending limit - providing you have good credit. apply credit cards
AMEX also has several advantages that it offers customers in North America and Europe. The credit card is accepted widely in both areas, offering you credit cards with great features and very attractive looks. AMEX offers you great rates, good rewards, and excellent customer service as well. apply credit cards
American Express also offers you Blue, which is a newly introduced credit card that offers you increased security, no annual fee, and 0% APR for the first year or so. Depending on your credit, you may be able to get an extended period with no interest. After that time has expired, you pay low fees, which make it a great credit card for anyone looking for a deal. Blue is the newest card from AMEX, and will rapidly become one of the best due to its amazing features. apply credit cards
In the world of credit cards, American Express is one of the best. They offer you a variety of different credit cards, designed to meet just about everyone's needs. You find them online or through a local provider, although online is the preferred way to go. Simply fill out your application, and if you have good credit, you'll be approved. Before you know it, you'll have a credit card from AMEX and be ready to experience life in the fast lane. apply credit cards
by sas_upena1
Also known as AMEX, American Express is easily one of the most recognized names in the world of credit cards. Even though many people have Visa or MasterCard credit cards, they are still interested in AMEX. With Visa, MasterCard, and AMEX being the most popular and preferred types of credit cards, they are all great although there are also differences between them as well. apply credit cards
Both Visa and MasterCard are methods of payment. Both will allow different businesses to accept credit card payments using their systems. Neither of the two issue credit cards on their own behalf, instead they rely on banks throughout the world to issue the credit cards for them, provide the credit, and then charge the interest. Your credit card bill goes to the bank, as Visa or MasterCard doesn't see any of it. apply credit cards
AMEX, on the other hand, is very different. American Express has their own payment system, and they also issue their credit cards directly to consumers. Unlike Visa and MasterCard, AMEX runs the entire show. Therefore, when a credit card says American Express on it, you instantly know who has issued the card, what payment system it has, and everything else you would need to know. apply credit cards
Even though MasterCard and Visa are used more throughout the world, American Express is always expanding their networks. Visa and MasterCard are used in over twenty five million locations over the world, including third world countries, which makes them global credit card payments. AMEX on the other hand, doesn't quite reach this degree. It is a great credit card, although it isn't used around the world in areas where the other 2 dominant credit cards are. apply credit cards
You can get AMEX credit cards with rewards, although you'll need to be careful where you look and what you select. Normally, with Visa and MasterCard, you'll have to look at hundreds of banks before you can find the best choice. With AMEX, you can look at their website and find out what they offer and what type of APR you'll have to pay. Most of the time, you can find a credit card with low interest and a great spending limit - providing you have good credit. apply credit cards
AMEX also has several advantages that it offers customers in North America and Europe. The credit card is accepted widely in both areas, offering you credit cards with great features and very attractive looks. AMEX offers you great rates, good rewards, and excellent customer service as well. apply credit cards
American Express also offers you Blue, which is a newly introduced credit card that offers you increased security, no annual fee, and 0% APR for the first year or so. Depending on your credit, you may be able to get an extended period with no interest. After that time has expired, you pay low fees, which make it a great credit card for anyone looking for a deal. Blue is the newest card from AMEX, and will rapidly become one of the best due to its amazing features. apply credit cards
In the world of credit cards, American Express is one of the best. They offer you a variety of different credit cards, designed to meet just about everyone's needs. You find them online or through a local provider, although online is the preferred way to go. Simply fill out your application, and if you have good credit, you'll be approved. Before you know it, you'll have a credit card from AMEX and be ready to experience life in the fast lane. apply credit cards
Shopping With Credit Cards And Store Cards
Shopping With Credit Cards And Store Cards
by Jonathon Hardcastle
Credit cards and store cards are plentiful in modern society, so much so that it is probably easier than ever to get goods on credit. The buy now, pay later culture is certainly convenient, but is it a wise idea, considering its obvious correlation with debt? Further than that, credit cards can be a great way to save money on your purchases provided you spend wisely. When dealing with credit and store cards, strong financial management is certainly paramount to avoid spiralling debts and borrowing costs when shopping on credit. apply credit cards
Wherever you shop you'll be able to buy in cash or on credit. It really is that widespread these days. Whether the credit is provided by the storekeeper or the card company, you won't have to pay a penny up front, which means you can plan your expenditure in advance. However, you will eventually have to repay everything you borrow, plus interest, so it's always a good idea to make sure you can afford it. This only comes with successful budgeting. Knowing exactly what you've got coming in and going out is paramount in ensuring you keep on top of your financial situation, and store cards and credit cards can be a great help to immediately pick up that shopping bill. apply credit cards
With your store cards and credit cards, you should always keep your bills and receipts, and match them up regularly to make sure everything is present and correct. This can be a great way to prevent against credit card fraud, and can help protect your funds from being pilfered. When you get the bill through at the end of the month, make sure you have the money to pay it off. One months credit is cheaper than ten months credit, so if you can pay it off, do so - it'll save you money in the long run. If you can't pay it off in full, you should still try to contribute as much as possible to get rid of some of your debt, which will again save you money on the high interest repayments demanded by card companies. apply credit cards
Shopping on credit is great, because it's easy and worry-free. The only problem comes when it's time to pay back what you've borrowed. As long as you make sure you're on top of your finances and pay off as much as you can afford come the end of the month, you'll find credit cards are actually helpful, rather than causing problems. apply credit cards
by Jonathon Hardcastle
Credit cards and store cards are plentiful in modern society, so much so that it is probably easier than ever to get goods on credit. The buy now, pay later culture is certainly convenient, but is it a wise idea, considering its obvious correlation with debt? Further than that, credit cards can be a great way to save money on your purchases provided you spend wisely. When dealing with credit and store cards, strong financial management is certainly paramount to avoid spiralling debts and borrowing costs when shopping on credit. apply credit cards
Wherever you shop you'll be able to buy in cash or on credit. It really is that widespread these days. Whether the credit is provided by the storekeeper or the card company, you won't have to pay a penny up front, which means you can plan your expenditure in advance. However, you will eventually have to repay everything you borrow, plus interest, so it's always a good idea to make sure you can afford it. This only comes with successful budgeting. Knowing exactly what you've got coming in and going out is paramount in ensuring you keep on top of your financial situation, and store cards and credit cards can be a great help to immediately pick up that shopping bill. apply credit cards
With your store cards and credit cards, you should always keep your bills and receipts, and match them up regularly to make sure everything is present and correct. This can be a great way to prevent against credit card fraud, and can help protect your funds from being pilfered. When you get the bill through at the end of the month, make sure you have the money to pay it off. One months credit is cheaper than ten months credit, so if you can pay it off, do so - it'll save you money in the long run. If you can't pay it off in full, you should still try to contribute as much as possible to get rid of some of your debt, which will again save you money on the high interest repayments demanded by card companies. apply credit cards
Shopping on credit is great, because it's easy and worry-free. The only problem comes when it's time to pay back what you've borrowed. As long as you make sure you're on top of your finances and pay off as much as you can afford come the end of the month, you'll find credit cards are actually helpful, rather than causing problems. apply credit cards
How To Lower Your Credit Card APR
How To Lower Your Credit Card APR
by Lawrence Fine
Your annual percentage rate is referenced as your APR. And lowering your credit APR means more money saved. apply credit cards
Since the rule of thumb is, 'A penny saved is a penny earned' ...it is hence necessary to find out the best ways to get your APR as low as possible. So here are some tips that will help you with this task...: apply credit cards
* Good credit record - the easiest way for lowering credit APR is by maintaining a good credit record generally and with the respective credit card. Have your payments done on time and be consistent with this particular aspect. The longer you are with the credit card company and have a great payment record the better are your chances for lowering credit APR on your card. apply credit cards
* Be relentless - it is vital that you come across as a person who is both polite and firm with the request. Many credit card company representatives are conditioned to react to such requests by postponing your demand for lowering credit APR for as long as possible. Remember while you will be getting major savings by the lowering credit APR, the credit card company would loose that much money. apply credit cards
* Be ready to shift - while most companies would give in, there are some which do not have the policy to reduce their APR, though this would be rare. Therefore, you would need to be ready to move your business if you fail in your negotiations for lowering credit APR. Do your research well so that you would shift to a credit card company that genuinely offers lower APR and does not have any hidden fees or other payment that would pull extra payment away. apply credit cards
* Develop good negotiating skills - it is important here that you do not demand the lowering credit APR for your card. Be persuasive and polite and request for the same. Learn how to lower APR by negotiation, i.e. by explaining to them that you are happy to be with them and would hate to leave them - yet, you are constrained by the better options offered to you by the other company (ies). apply credit cards
Usually, a credit card company (and any other company as a matter of fact) would not like to have their clients leave for their competition and hence, do their best to match the offer.
* Look for competition - today there is a lot of competition in the market. This will provide you with the best opportunity and means for lowering credit APR. For people who do not have the patience to stick with a credit card company for long enough to create a great impression with them this is how to lower APR fast. apply credit cards
Check out on the Internet for the best rates that exist in the market and then pick up the phone and renegotiate the terms with your credit card provider. If they agree to lowering credit APR on your card - great. If not, take our business elsewhere. apply credit cards
If you follow the tips and learn how to lower APR, lowering credit APR can be farily easy. Just hand in there and do your research and hard work to get the best rates you can!
by Lawrence Fine
Your annual percentage rate is referenced as your APR. And lowering your credit APR means more money saved. apply credit cards
Since the rule of thumb is, 'A penny saved is a penny earned' ...it is hence necessary to find out the best ways to get your APR as low as possible. So here are some tips that will help you with this task...: apply credit cards
* Good credit record - the easiest way for lowering credit APR is by maintaining a good credit record generally and with the respective credit card. Have your payments done on time and be consistent with this particular aspect. The longer you are with the credit card company and have a great payment record the better are your chances for lowering credit APR on your card. apply credit cards
* Be relentless - it is vital that you come across as a person who is both polite and firm with the request. Many credit card company representatives are conditioned to react to such requests by postponing your demand for lowering credit APR for as long as possible. Remember while you will be getting major savings by the lowering credit APR, the credit card company would loose that much money. apply credit cards
* Be ready to shift - while most companies would give in, there are some which do not have the policy to reduce their APR, though this would be rare. Therefore, you would need to be ready to move your business if you fail in your negotiations for lowering credit APR. Do your research well so that you would shift to a credit card company that genuinely offers lower APR and does not have any hidden fees or other payment that would pull extra payment away. apply credit cards
* Develop good negotiating skills - it is important here that you do not demand the lowering credit APR for your card. Be persuasive and polite and request for the same. Learn how to lower APR by negotiation, i.e. by explaining to them that you are happy to be with them and would hate to leave them - yet, you are constrained by the better options offered to you by the other company (ies). apply credit cards
Usually, a credit card company (and any other company as a matter of fact) would not like to have their clients leave for their competition and hence, do their best to match the offer.
* Look for competition - today there is a lot of competition in the market. This will provide you with the best opportunity and means for lowering credit APR. For people who do not have the patience to stick with a credit card company for long enough to create a great impression with them this is how to lower APR fast. apply credit cards
Check out on the Internet for the best rates that exist in the market and then pick up the phone and renegotiate the terms with your credit card provider. If they agree to lowering credit APR on your card - great. If not, take our business elsewhere. apply credit cards
If you follow the tips and learn how to lower APR, lowering credit APR can be farily easy. Just hand in there and do your research and hard work to get the best rates you can!
Tuesday, April 14, 2009
Credit Cards - Tips For Use And Raising Credit Rating
Credit Cards - Tips For Use And Raising Credit Rating
by Landon McGehee
Credit scores - many elements can come in to making up your score. The balances you carry on them, the credit limit and the quantity of cards you have all play a part in rounding out your credit rating. apply credit cards
How you use your card and the buying power it represents compared to your debt is where the credit number come together in your report. apply credit cards
For example, if you carry three credit cards in your wallet and you designate one card for emergencies only, one you never use and the last card you use to make purchases and you pay your bills on time you should have a good credit rating. apply credit cards
The card you use for everyday spending should be the one with the lowest credit limit and you should pay the balance off every month. This should help build good credit and keep you spending in bounds. apply credit cards
Which card should be the emergency credit card? Make the emergency card the one with the medium credit limit. Do not carry the card with you and basically keep it locked up, you do not need any extra spending temptations. apply credit cards
The final card has the highest credit limit, no yearly fees and never gets used! Make sure the card is put away and locked up. You may even take the step and cut up the card - that will pretty much guarantee you will not use it! apply credit cards
As long as you keep the card open you should be able to maintain your line of credit.
Managing The Credit Cards and Credit Line
Now that your credit line is set up what is the best way of managing your line of credit.
The first thing you must do is - Be Responsible! Never max out your cards. This one item can hammer your credit score and you'll be paying on credit cards and interest for years to come. apply credit cards
Try to keep the balance on your cards or I should say card one half or below your credit limit. Also make sure you make payments on time. apply credit cards
When making payments if you cannot pay off the balance at the end of the month try to make big payments. If you pay the minimum payment each month you pay a considerable amount in interest over time. apply credit cards
Never charge or purchase an item you cannot pay off in a few months. It is a good practice to always keep your balance within paying range. apply credit cards
If you manage the use of your credit cards wisely you can enjoy an excellent credit score and keep your debt manageable. Who wants to face the consolidating their credit card debt with a loan?
by Landon McGehee
Credit scores - many elements can come in to making up your score. The balances you carry on them, the credit limit and the quantity of cards you have all play a part in rounding out your credit rating. apply credit cards
How you use your card and the buying power it represents compared to your debt is where the credit number come together in your report. apply credit cards
For example, if you carry three credit cards in your wallet and you designate one card for emergencies only, one you never use and the last card you use to make purchases and you pay your bills on time you should have a good credit rating. apply credit cards
The card you use for everyday spending should be the one with the lowest credit limit and you should pay the balance off every month. This should help build good credit and keep you spending in bounds. apply credit cards
Which card should be the emergency credit card? Make the emergency card the one with the medium credit limit. Do not carry the card with you and basically keep it locked up, you do not need any extra spending temptations. apply credit cards
The final card has the highest credit limit, no yearly fees and never gets used! Make sure the card is put away and locked up. You may even take the step and cut up the card - that will pretty much guarantee you will not use it! apply credit cards
As long as you keep the card open you should be able to maintain your line of credit.
Managing The Credit Cards and Credit Line
Now that your credit line is set up what is the best way of managing your line of credit.
The first thing you must do is - Be Responsible! Never max out your cards. This one item can hammer your credit score and you'll be paying on credit cards and interest for years to come. apply credit cards
Try to keep the balance on your cards or I should say card one half or below your credit limit. Also make sure you make payments on time. apply credit cards
When making payments if you cannot pay off the balance at the end of the month try to make big payments. If you pay the minimum payment each month you pay a considerable amount in interest over time. apply credit cards
Never charge or purchase an item you cannot pay off in a few months. It is a good practice to always keep your balance within paying range. apply credit cards
If you manage the use of your credit cards wisely you can enjoy an excellent credit score and keep your debt manageable. Who wants to face the consolidating their credit card debt with a loan?
How to Choose the Best Student Credit Card
How to Choose the Best Student Credit Card
by Scott Stadler
Choosing the best student credit card certainly doesn't have to be a complicated process. Sure, there are a few things every applicant should keep in mind, but most of the credit card offers made available to college students these days are pretty decent. So how do you choose the best student credit card?
It's not all About Free T-Shirts!
If you take one thing away from reading this article, please make it this piece of advice - don't choose a student credit card solely on fact that they're giving away a free t-shirt or other trinket to those that sign up. That's a really major “gotcha� right there. The key to choosing the best student credit card is actually comparing several good deals side by side in order to make the most educated decision on what is best for you and your finances. Signing up for any old card because of a silly freebee just won't do. apply credit cards
Investigate the Interest Rate. apply credit cards
Hopefully, you'll be able to pay off the balance in full every month on your new student credit card. If this is the case, you'll never need to even worry about the interest rate. But in the real world, the notion of never carrying a balance is sort of unrealistic. Average student cards frequently come with high APR's in the 20 percent plus range - that's a real ouch factor. If you expect to carry a balance from time to time, know the best student credit cards will beat that interest rate substantially. apply credit cards
Rewards are a Great Bonus. apply credit cards
As long as you're swiping that credit card, you might as well get some payback for it, right? Well that's exactly what you can expect with the best student credit cards - those that offer rewards programs. Look for rewards that best suit your own needs. Common credit card rewards give you a percentage of each and every purchase back in the form of cash, airline miles, gas rebates, or other desirable merchandise. Those rewards really add up fast for typical students who purchase college books and pay for other school related expenses with their student rewards credit card. apply credit cards
Avoid the Annual Fee. apply credit cards
Charging annual fees is a fairly common practice for credit cards geared towards students. If you're getting good rewards and a decent interest rate, there's not much shame in paying a minimal annual fee (such as $20 per year). But do read the fine print first and avoid cards that charge excessive annual fees just to be a cardholder. You can do better. Credit card companies are always looking to attract lifelong customers from the student demographic group. The very best student credit cards appreciate this fact and will have no annual fee at all. apply credit cards
So rest assured, you'll find the perfect card to fit all of your needs in little or no time at all. Just do the research and comparisons and you'll be well on your way to choosing the best student credit card possible! apply credit cards
by Scott Stadler
Choosing the best student credit card certainly doesn't have to be a complicated process. Sure, there are a few things every applicant should keep in mind, but most of the credit card offers made available to college students these days are pretty decent. So how do you choose the best student credit card?
It's not all About Free T-Shirts!
If you take one thing away from reading this article, please make it this piece of advice - don't choose a student credit card solely on fact that they're giving away a free t-shirt or other trinket to those that sign up. That's a really major “gotcha� right there. The key to choosing the best student credit card is actually comparing several good deals side by side in order to make the most educated decision on what is best for you and your finances. Signing up for any old card because of a silly freebee just won't do. apply credit cards
Investigate the Interest Rate. apply credit cards
Hopefully, you'll be able to pay off the balance in full every month on your new student credit card. If this is the case, you'll never need to even worry about the interest rate. But in the real world, the notion of never carrying a balance is sort of unrealistic. Average student cards frequently come with high APR's in the 20 percent plus range - that's a real ouch factor. If you expect to carry a balance from time to time, know the best student credit cards will beat that interest rate substantially. apply credit cards
Rewards are a Great Bonus. apply credit cards
As long as you're swiping that credit card, you might as well get some payback for it, right? Well that's exactly what you can expect with the best student credit cards - those that offer rewards programs. Look for rewards that best suit your own needs. Common credit card rewards give you a percentage of each and every purchase back in the form of cash, airline miles, gas rebates, or other desirable merchandise. Those rewards really add up fast for typical students who purchase college books and pay for other school related expenses with their student rewards credit card. apply credit cards
Avoid the Annual Fee. apply credit cards
Charging annual fees is a fairly common practice for credit cards geared towards students. If you're getting good rewards and a decent interest rate, there's not much shame in paying a minimal annual fee (such as $20 per year). But do read the fine print first and avoid cards that charge excessive annual fees just to be a cardholder. You can do better. Credit card companies are always looking to attract lifelong customers from the student demographic group. The very best student credit cards appreciate this fact and will have no annual fee at all. apply credit cards
So rest assured, you'll find the perfect card to fit all of your needs in little or no time at all. Just do the research and comparisons and you'll be well on your way to choosing the best student credit card possible! apply credit cards
Thursday, April 9, 2009
Reclaim Credit Card Charges - PPI Recovery
Reclaim Credit Card Charges - PPI Recovery
by Credit Card - PPI Refund Company
Reclaim your Business Credit Card and Bank Charges
Call Free 0800 0 811 558
http://www.llltd.org.uk
Banks have been charging their customers extortionate amounts whenever they go overdrawn, a cheque is bounced, a direct debit payment is returned, etc.
The Office of Fair Trading has ruled that it is unlawful for banks and credit card issuers to charge more than the cost incurred to them when their customers:
* Go over their overdraft limit
* A cheque is bounced
* A Direct Debit is returned
* And many other similar misdemeanours
Penalty charges are illegal.
Banks can only impose charges, which are in proportion to their costs. Many believe there's no way a £30ish charge, when someone exceeds their overdraft limit or bounces a cheque, is proportionate.
Remember it could simply be 1p over the limit and you're charged, and even if it's more, you pay interest anyway. It's their costs we're looking at.
Does it really cost £30 for a computer to write and send an automated letter?
If it isn't proportionate then it's illegal, and thus you've a right to your money back.
How can charges get so big, why do people reclaim £1000s?
These charges snowball.
Imagine you go beyond the overdraft limit, you're then hit with a fine for that and a couple of fines for bounced cheques or Direct Debits.
Now suddenly you're around £100 down, which you can't afford to repay - next month there are more fines - and so it continues. Why don't the banks fight back?
I believe there are two reasons banks haven't yet effectively fought back.
First they worry courts may set a precedent against them, opening the floodgates for millions to reclaim their charges. Plus there's the fact that to fight this fully in Court, banks would have to reveal their costs; this is commercially sensitive and the last thing the banks want to do - even if they have to pay out compensation.
reclaim bank charges, refund bank charges, recover bank charges, refund of bank charge, how do i get my bank charges refunded? bank charge reclaim, reclaim bank charges company
Reclaim Credit Card Charges - Recover PPI â€" All Financial Charges Recovered
Do you get credit card charges of £10.00 - £35.00 when you pay late or go into the red?
Have you been mis-sold a PPI Policy and want the money returned?
If you have any Debts and have been Charged by Financial Institutions give us a call on 0800 0 811 558 and we can see if we can get all the money back for you for free and save you getting into more debt!
www.llltd.org.uk based in Cheshire are financial law experts who know why you dont have to accept them.
Although reclaiming Bank Charges have been put on hold, you can still reclaim your Unfair Credit Card Charges for the past 6 years.
Free Phone Number 0800 0 811 558
http://www.llltd.org.uk
We can claim 6 years penalties & more.
Penalty charge payouts average £1,500.00 - £15,000.00.
There's no fee if we lose because we are absolutely sure of winning!
Call us now on Free Phone Number 0800 0 811 558 or just give us your contact details via our online form and we will do the rest for you!!!
Just click here:- http://www.llltd.org.uk/BCenquiryform.asp
WE WIN YOUR MONEY BACK AT NO COST TO YOURSELF.
Do you have Debt Problems?
Free Financial Advice - Call 0800 0 811 558 - Debt Advice
Reclaim your Credit Card Charges - Mis Sold PPI - Mis Sold Credit Agreements - Refund Financial Charges - PPI Refund
WE SAVE YOU TIME AND MONEY.
www.llltd.org.uk
refund ppi bank charges reclaim bank penalties charges refund bank fees reclaim financial charges banking charges bank charge penalty reclaim uk card charges claim back unfair bank charges reclaim bank charges reclaim credit card charges
reclaim ppi recover credit card charges
Financial - Credit Cards - Bank Loans - Unfair Charges - Unfair Penalty Charges
UK - England - Wales - Scotland - Ireland - Great Britain
Manchester - Leeds - Sheffield - Glasgow - Edinburgh - London - Birmingham - Luton - Bristol - Norwich - Carlisle - Cardiff - Brighton - Bournemouth - Nottingham - Preston - Blackpool - Burnley - Liverpool - Doncaster - Derby - Exeter - Harrogate - Kendal - Leamington Spa - Middlesbrough - Runcorn - Warrington - New Brighton -Warwick - St Albans - Reading - Reigate - Kent - Surrey - Suffolk - Yorkshire - Lancashire - Berkshire - Cumbria - Cheshire - England - Scotland - Ireland - Wales - United Kingdom - Great Britain - UK - Aberdeen - Cheshire - Bristol - Bolton - Stoke-on-Trent - Bury - Burnley - Brighton - Bournemouth - Coventry - Durham - Eire - Fife - John O Groats - Horwich - Gateshead - Teeside - Newcastle - The Wirral -Buckinghamshire - Gloucestershire - West Midlands - Wolverhampton - Chester - Leamington Spa - Norfolk - Cheshire - Gloucester - St Albans - St Andrews - North Wales - Jersey - Guernsey - The Channel Islands - Isle of Man - Douglas - Stockport - Isle of White - Portsmouth - Southampton - South Wales - Kent - Torquay - Dartford - Flint - Fife - Ipswich - Stafford - Stoke - UK
HSBC - Natwest - Barclays - Capital One - MBNA - Cahoot - RBOS - The Co-operative Bank - Royal Bank of Scotland
Debt Counselling - Free Financial Advice - Reclaim Credit Card Charges and Mis Sold PPI - Refund Credit Cards - Reclaim Credit Card Charge - Recovering PPI - PPI Rcovery Company - Debt Advice - Financial Advice - UK Reclaim Company - Reclaim Finance Agreements - Mis Sold Personal Protection Insurance - Refund PPI - Help with Finances - PPI Reclaim
by Credit Card - PPI Refund Company
Reclaim your Business Credit Card and Bank Charges
Call Free 0800 0 811 558
http://www.llltd.org.uk
Banks have been charging their customers extortionate amounts whenever they go overdrawn, a cheque is bounced, a direct debit payment is returned, etc.
The Office of Fair Trading has ruled that it is unlawful for banks and credit card issuers to charge more than the cost incurred to them when their customers:
* Go over their overdraft limit
* A cheque is bounced
* A Direct Debit is returned
* And many other similar misdemeanours
Penalty charges are illegal.
Banks can only impose charges, which are in proportion to their costs. Many believe there's no way a £30ish charge, when someone exceeds their overdraft limit or bounces a cheque, is proportionate.
Remember it could simply be 1p over the limit and you're charged, and even if it's more, you pay interest anyway. It's their costs we're looking at.
Does it really cost £30 for a computer to write and send an automated letter?
If it isn't proportionate then it's illegal, and thus you've a right to your money back.
How can charges get so big, why do people reclaim £1000s?
These charges snowball.
Imagine you go beyond the overdraft limit, you're then hit with a fine for that and a couple of fines for bounced cheques or Direct Debits.
Now suddenly you're around £100 down, which you can't afford to repay - next month there are more fines - and so it continues. Why don't the banks fight back?
I believe there are two reasons banks haven't yet effectively fought back.
First they worry courts may set a precedent against them, opening the floodgates for millions to reclaim their charges. Plus there's the fact that to fight this fully in Court, banks would have to reveal their costs; this is commercially sensitive and the last thing the banks want to do - even if they have to pay out compensation.
reclaim bank charges, refund bank charges, recover bank charges, refund of bank charge, how do i get my bank charges refunded? bank charge reclaim, reclaim bank charges company
Reclaim Credit Card Charges - Recover PPI â€" All Financial Charges Recovered
Do you get credit card charges of £10.00 - £35.00 when you pay late or go into the red?
Have you been mis-sold a PPI Policy and want the money returned?
If you have any Debts and have been Charged by Financial Institutions give us a call on 0800 0 811 558 and we can see if we can get all the money back for you for free and save you getting into more debt!
www.llltd.org.uk based in Cheshire are financial law experts who know why you dont have to accept them.
Although reclaiming Bank Charges have been put on hold, you can still reclaim your Unfair Credit Card Charges for the past 6 years.
Free Phone Number 0800 0 811 558
http://www.llltd.org.uk
We can claim 6 years penalties & more.
Penalty charge payouts average £1,500.00 - £15,000.00.
There's no fee if we lose because we are absolutely sure of winning!
Call us now on Free Phone Number 0800 0 811 558 or just give us your contact details via our online form and we will do the rest for you!!!
Just click here:- http://www.llltd.org.uk/BCenquiryform.asp
WE WIN YOUR MONEY BACK AT NO COST TO YOURSELF.
Do you have Debt Problems?
Free Financial Advice - Call 0800 0 811 558 - Debt Advice
Reclaim your Credit Card Charges - Mis Sold PPI - Mis Sold Credit Agreements - Refund Financial Charges - PPI Refund
WE SAVE YOU TIME AND MONEY.
www.llltd.org.uk
refund ppi bank charges reclaim bank penalties charges refund bank fees reclaim financial charges banking charges bank charge penalty reclaim uk card charges claim back unfair bank charges reclaim bank charges reclaim credit card charges
reclaim ppi recover credit card charges
Financial - Credit Cards - Bank Loans - Unfair Charges - Unfair Penalty Charges
UK - England - Wales - Scotland - Ireland - Great Britain
Manchester - Leeds - Sheffield - Glasgow - Edinburgh - London - Birmingham - Luton - Bristol - Norwich - Carlisle - Cardiff - Brighton - Bournemouth - Nottingham - Preston - Blackpool - Burnley - Liverpool - Doncaster - Derby - Exeter - Harrogate - Kendal - Leamington Spa - Middlesbrough - Runcorn - Warrington - New Brighton -Warwick - St Albans - Reading - Reigate - Kent - Surrey - Suffolk - Yorkshire - Lancashire - Berkshire - Cumbria - Cheshire - England - Scotland - Ireland - Wales - United Kingdom - Great Britain - UK - Aberdeen - Cheshire - Bristol - Bolton - Stoke-on-Trent - Bury - Burnley - Brighton - Bournemouth - Coventry - Durham - Eire - Fife - John O Groats - Horwich - Gateshead - Teeside - Newcastle - The Wirral -Buckinghamshire - Gloucestershire - West Midlands - Wolverhampton - Chester - Leamington Spa - Norfolk - Cheshire - Gloucester - St Albans - St Andrews - North Wales - Jersey - Guernsey - The Channel Islands - Isle of Man - Douglas - Stockport - Isle of White - Portsmouth - Southampton - South Wales - Kent - Torquay - Dartford - Flint - Fife - Ipswich - Stafford - Stoke - UK
HSBC - Natwest - Barclays - Capital One - MBNA - Cahoot - RBOS - The Co-operative Bank - Royal Bank of Scotland
Debt Counselling - Free Financial Advice - Reclaim Credit Card Charges and Mis Sold PPI - Refund Credit Cards - Reclaim Credit Card Charge - Recovering PPI - PPI Rcovery Company - Debt Advice - Financial Advice - UK Reclaim Company - Reclaim Finance Agreements - Mis Sold Personal Protection Insurance - Refund PPI - Help with Finances - PPI Reclaim
Save Money With Gas Rebate Credit Cards
Save Money With Gas Rebate Credit Cards
by Tom Tessin
How often do you go to the gas pump and groan because the gas prices are just putting a huge dent in your budget? If you're shaking your head to this question, you're definitely not alone. Over the past couple of years, you've probably realized that gas prices have gone up and are always changing on a consistent basis.
What if I told you that there was a way to save on gasoline every time you filled up your tank? I know it sounds too good to be true but it isn't! The easiest solution is gas rebate credit cards. If you're sort of familiar with them or you've never heard of them before, I'm going to explain to you how they can save you a ton of cash in the long run. The only steps it takes from you is for you to fill out a simple application and hit the send button. It will cost you nothing and there's no gimmick or scam involved.
Gas rebate credit cards are very similar to any credit card on the market. They work just like one but they benefit you in the gas sector. All gas credit cards are different because some may only be used on gas while others can be used on any other type of purchases. Once again, this will all depend on the credit card company. When you're applying, it's your duty to read the fine print to know exactly where they'll be accepted. Your best bet to sign up for a card that gives you cash back at a particular gas station, seeing these usually give you the best cash back percentages.
Choosing the right gas rebate credit card can be tough at times. The best way to choose the right credit card is to decide whether you want a card that focuses on one gas station or a credit card that focuses on any. Like I mentioned in the above paragraph, you're going to want to probably focus on the percentage you're going to get back. You'll find that most cards that focus on one gas station will usually give you the best introductory and long term rate. This will be all up to you.
Once you find that perfect credit card, simply fill out the information noted on the application and wait for the status of your application to come either via email or regular mail. You'll find that every card is different in their approval process. Some cards will approve you on the spot while others may take a few days. If you don't hear from the credit card company within a week or so, it's always best to call them up and ask them for a status, most of the time you'll find that they'll have an answer for you.
If you've read this and you're motivated to save on gas, start your search today. Once the card arrives, start using it and you'll see all the benefits start to roll in the long run!
by Tom Tessin
How often do you go to the gas pump and groan because the gas prices are just putting a huge dent in your budget? If you're shaking your head to this question, you're definitely not alone. Over the past couple of years, you've probably realized that gas prices have gone up and are always changing on a consistent basis.
What if I told you that there was a way to save on gasoline every time you filled up your tank? I know it sounds too good to be true but it isn't! The easiest solution is gas rebate credit cards. If you're sort of familiar with them or you've never heard of them before, I'm going to explain to you how they can save you a ton of cash in the long run. The only steps it takes from you is for you to fill out a simple application and hit the send button. It will cost you nothing and there's no gimmick or scam involved.
Gas rebate credit cards are very similar to any credit card on the market. They work just like one but they benefit you in the gas sector. All gas credit cards are different because some may only be used on gas while others can be used on any other type of purchases. Once again, this will all depend on the credit card company. When you're applying, it's your duty to read the fine print to know exactly where they'll be accepted. Your best bet to sign up for a card that gives you cash back at a particular gas station, seeing these usually give you the best cash back percentages.
Choosing the right gas rebate credit card can be tough at times. The best way to choose the right credit card is to decide whether you want a card that focuses on one gas station or a credit card that focuses on any. Like I mentioned in the above paragraph, you're going to want to probably focus on the percentage you're going to get back. You'll find that most cards that focus on one gas station will usually give you the best introductory and long term rate. This will be all up to you.
Once you find that perfect credit card, simply fill out the information noted on the application and wait for the status of your application to come either via email or regular mail. You'll find that every card is different in their approval process. Some cards will approve you on the spot while others may take a few days. If you don't hear from the credit card company within a week or so, it's always best to call them up and ask them for a status, most of the time you'll find that they'll have an answer for you.
If you've read this and you're motivated to save on gas, start your search today. Once the card arrives, start using it and you'll see all the benefits start to roll in the long run!
Credit Card Choices
Credit Card Choices
by Stuart A. McMaster
Choosing a credit card is not an easy task as you probably already know as there are many credit cards out there. The credit card that you choose should actually reflect your ideal spending limits and your lifestyle. If you are looking for the best possible deal when choosing a credit card, you will find that you need to look around a great deal and choose what will work best for you.
Why you really need a credit card in the first place is the very first thing that you need to know when you are choosing a credit card. Some consumers get credit cards just for cash flow purposes. Some people choose to get a credit card for cash flow purposes. With a credit card, you can make purchases and buy things, leaving your paycheck or other source of income in your bank account to draw interest. This way, your money will continue to grow while you continue to buy the things you need. Then when the end of the month comes you simply pay your credit card bill.
Other consumers choose to get a credit card for the convenience of having instant cash ability. This way, they can use their credit card at an ATM and get instant cash, which is great for travel or going on a long and extended vacation. If this is why you want a credit card, you should look for one that has the lowest rate possible for instant cash transactions.
You will also need to seriously think about the payments when choosing a credit card. You will have to make a decision about paying off the balance in full each month or just paying the required minimum amount. When choosing a credit card you should look at the balance transfer rates, the introductory rates and the many other offers that usually apply to new credit card holders. Some will offer you truly amazing deals, especially if you have good credit.
Another important area to look at when choosing your credit card is the incentives. Several credit cards now will give you incentives, like rewards points and even cash back with purchases that you can even use towards paying what you owe. There are several incentives out there with credit cards, all you have to do is look around and compare.
The main area you will need to look at and compare when choosing a credit card is the Annual Percentage Rate (APR). The APR is what you will pay on what you purchase when the incentive period runs out. APR rates will vary among credit cards, so it is always in your best interest to compare and shop around. The lower APR rate you get, the better off you'll be.
Another concern with choosing your credit card is the minimum payment amount. Most minimum payment balances will start around 3%, although some can be lower while others tend to be quite a bit higher. The interest free period is a concern as well, as you will obviously want to choose the longest period that you can keep the payments down.
When you finally do make a decision on choosing a credit card, you should make sure that you are completely aware about exactly what you are getting. Credit cards are truly great things to have but they also can lead to your downfall if you don't choose them wisely.
If you take the time to do the proper research into choosing a credit card you can easily find the best one for you. As long as you pay your bill on time and take care of your credit card, you will raise your line of credit and eventually be able to make much bigger purchases like a car or even a house.
by Stuart A. McMaster
Choosing a credit card is not an easy task as you probably already know as there are many credit cards out there. The credit card that you choose should actually reflect your ideal spending limits and your lifestyle. If you are looking for the best possible deal when choosing a credit card, you will find that you need to look around a great deal and choose what will work best for you.
Why you really need a credit card in the first place is the very first thing that you need to know when you are choosing a credit card. Some consumers get credit cards just for cash flow purposes. Some people choose to get a credit card for cash flow purposes. With a credit card, you can make purchases and buy things, leaving your paycheck or other source of income in your bank account to draw interest. This way, your money will continue to grow while you continue to buy the things you need. Then when the end of the month comes you simply pay your credit card bill.
Other consumers choose to get a credit card for the convenience of having instant cash ability. This way, they can use their credit card at an ATM and get instant cash, which is great for travel or going on a long and extended vacation. If this is why you want a credit card, you should look for one that has the lowest rate possible for instant cash transactions.
You will also need to seriously think about the payments when choosing a credit card. You will have to make a decision about paying off the balance in full each month or just paying the required minimum amount. When choosing a credit card you should look at the balance transfer rates, the introductory rates and the many other offers that usually apply to new credit card holders. Some will offer you truly amazing deals, especially if you have good credit.
Another important area to look at when choosing your credit card is the incentives. Several credit cards now will give you incentives, like rewards points and even cash back with purchases that you can even use towards paying what you owe. There are several incentives out there with credit cards, all you have to do is look around and compare.
The main area you will need to look at and compare when choosing a credit card is the Annual Percentage Rate (APR). The APR is what you will pay on what you purchase when the incentive period runs out. APR rates will vary among credit cards, so it is always in your best interest to compare and shop around. The lower APR rate you get, the better off you'll be.
Another concern with choosing your credit card is the minimum payment amount. Most minimum payment balances will start around 3%, although some can be lower while others tend to be quite a bit higher. The interest free period is a concern as well, as you will obviously want to choose the longest period that you can keep the payments down.
When you finally do make a decision on choosing a credit card, you should make sure that you are completely aware about exactly what you are getting. Credit cards are truly great things to have but they also can lead to your downfall if you don't choose them wisely.
If you take the time to do the proper research into choosing a credit card you can easily find the best one for you. As long as you pay your bill on time and take care of your credit card, you will raise your line of credit and eventually be able to make much bigger purchases like a car or even a house.
Saturday, April 4, 2009
The Importance Of Comparing Credit Card Offers
The Importance Of Comparing Credit Card Offers
by Ajeet Khurana
When you receive two credit card offers in the mail do you simply assume that they are exactly the same, neither one offering anything more or less than the other? If this is what you assume you are likely paying too much interest on any credit cards that you have and you may also not be taking advantage of all of the features that are available to consumers through their credit card companies.
Why You Should Compare Credit Cards
Consumers should not assume that all credit cards are created equal. It doesn't matter how good or bad your credit is or what you do with your credit card, there is one credit card out there that is better than all of the others for you. If you simply accept every credit card offer that comes in the mail you may not be doing yourself any favors, in fact you may be doing a disservice to yourself.
One reason that you should compare all credit card offers is that you can save a lot of money if you seek out a credit card with a lower interest rate. Many people assume that because credit cards all usually have high interest rates that it doesn't matter, but it does. Just for an example, you may receive two credit card applications in the mail on the same day and you may randomly choose one to apply for and start using.
The credit card that you ended up with features a 26% interest rate but the other that you threw in the trash featured a 15% interest rate and 0% on balance transfers. That is an 11% difference in the interest rates and that adds up when you spend hundreds or even thousands of dollars on a credit card.
You should also compare credit cards before you choose one so you can get the credit card that will do the most for you. Some credit cards are straightforward and don't really offer much to the consumer. Other credit cards will give you frequent flyer miles every time you use it, cash back, free gas, and other prizes.
If you have a credit card that you use all the time, why not benefit from that use? Many people earn hundreds of dollars in cash back credits or earn hundreds of dollars of plane tickets or free gas simply for making their every day purchases. Why shouldn't you be taking advantage of these opportunities as well? You should! After all we live in a consumerist society and it is all about increasing the utility of the consumer to the maximum.
Comparing credit card offers before you accept one or all of them is important. You can save a lot of money on interest and you can take advantage of great cash back offers and prizes in the process. There are many different credit cards out there for consumers to choose from, so do a bit of looking around before you settle on just one to make sure you have the right one for your purchasing needs.
by Ajeet Khurana
When you receive two credit card offers in the mail do you simply assume that they are exactly the same, neither one offering anything more or less than the other? If this is what you assume you are likely paying too much interest on any credit cards that you have and you may also not be taking advantage of all of the features that are available to consumers through their credit card companies.
Why You Should Compare Credit Cards
Consumers should not assume that all credit cards are created equal. It doesn't matter how good or bad your credit is or what you do with your credit card, there is one credit card out there that is better than all of the others for you. If you simply accept every credit card offer that comes in the mail you may not be doing yourself any favors, in fact you may be doing a disservice to yourself.
One reason that you should compare all credit card offers is that you can save a lot of money if you seek out a credit card with a lower interest rate. Many people assume that because credit cards all usually have high interest rates that it doesn't matter, but it does. Just for an example, you may receive two credit card applications in the mail on the same day and you may randomly choose one to apply for and start using.
The credit card that you ended up with features a 26% interest rate but the other that you threw in the trash featured a 15% interest rate and 0% on balance transfers. That is an 11% difference in the interest rates and that adds up when you spend hundreds or even thousands of dollars on a credit card.
You should also compare credit cards before you choose one so you can get the credit card that will do the most for you. Some credit cards are straightforward and don't really offer much to the consumer. Other credit cards will give you frequent flyer miles every time you use it, cash back, free gas, and other prizes.
If you have a credit card that you use all the time, why not benefit from that use? Many people earn hundreds of dollars in cash back credits or earn hundreds of dollars of plane tickets or free gas simply for making their every day purchases. Why shouldn't you be taking advantage of these opportunities as well? You should! After all we live in a consumerist society and it is all about increasing the utility of the consumer to the maximum.
Comparing credit card offers before you accept one or all of them is important. You can save a lot of money on interest and you can take advantage of great cash back offers and prizes in the process. There are many different credit cards out there for consumers to choose from, so do a bit of looking around before you settle on just one to make sure you have the right one for your purchasing needs.
Understanding Credit Cards
Understanding Credit Cards
by Jay Hayden
Summary: The credit score is the number that is in your credit report. In this article we will look at how your credit card score affect you and your ability to get financing and a credit card of your own. What is a Credit Card Account and How Does It Work
Do you have a credit card account? Do you understand how it works? It is a very complicated process, but it is pretty easy to explain. Here is a rundown on how a credit card account works.
You would start by going to a bank that is in the business of credit cards. They would give you a choice between an unsecured or secured credit card, this will all depend on your credit. You will be able to use the credit at merchants who take your certain credit card. The bank will give you a limit depending on your financial situation.
The bank that you go to does have a lot of credit cards available, a few of which are: Discover Card, Diners Club, and American Express. The most popular of the credit cards is MasterCard and Visa, because they are welcome at millions of stores all over the world.
When your card was issued at a bank you promise them that when you purchase something that you will pay them back. When you buy something at a merchant and sign the card slip you are telling them you will pay them back. That is the agreement.
When you are at lunch and go to a fast food restaurant, like McDonalds or Burger King, they will not have you sign the card slip. However, do not think just because you are not signing the slip does not mean you do not have to pay, you have an agreement with the bank you will pay.
There is a magnetic strip on the back of your credit card that is where the merchant gets your information to make sure you have money in your account. So, any merchant can quickly check any of your information.
Under the Fair Credit Billing Act if you feel there is a mistake you can file a dispute. Every month you will get a statement that will show how much you owe and a breakdown of your charges. When you look at your statement make sure you look over every detail.
Your problem asking, "How do the banks make their money?" The banks make their money by the interest that accrues if you do not pay your balance in full. The bank will give you a little time to pay off the total balance or there will be interest charged.
There are people that are set up with automatic payment and pay their bill directly out of their checking or savings account. But you are obligated to make a minimum monthly payment on your account.
There are a lot of people having credit card issues so they have unsecured credit cards which can be used any where depending on which merchant accepts their credit card account type.
When you are at higher risk on bad credit cards the bank will help you get the secured card. The secured card works by you depositing an amount into your credit card account, and this deposit becomes your credit card limit. If the money is out of your account the credit card will not work. What this means is you have to make sure that you put money in the bank to cover your cost. It is just like having a checking account.
This information should help you get started in getting your own credit card. Just know that your bank will help you get a credit card account by how your financial situation is and then you can get started and have your own credit.
by Jay Hayden
Summary: The credit score is the number that is in your credit report. In this article we will look at how your credit card score affect you and your ability to get financing and a credit card of your own. What is a Credit Card Account and How Does It Work
Do you have a credit card account? Do you understand how it works? It is a very complicated process, but it is pretty easy to explain. Here is a rundown on how a credit card account works.
You would start by going to a bank that is in the business of credit cards. They would give you a choice between an unsecured or secured credit card, this will all depend on your credit. You will be able to use the credit at merchants who take your certain credit card. The bank will give you a limit depending on your financial situation.
The bank that you go to does have a lot of credit cards available, a few of which are: Discover Card, Diners Club, and American Express. The most popular of the credit cards is MasterCard and Visa, because they are welcome at millions of stores all over the world.
When your card was issued at a bank you promise them that when you purchase something that you will pay them back. When you buy something at a merchant and sign the card slip you are telling them you will pay them back. That is the agreement.
When you are at lunch and go to a fast food restaurant, like McDonalds or Burger King, they will not have you sign the card slip. However, do not think just because you are not signing the slip does not mean you do not have to pay, you have an agreement with the bank you will pay.
There is a magnetic strip on the back of your credit card that is where the merchant gets your information to make sure you have money in your account. So, any merchant can quickly check any of your information.
Under the Fair Credit Billing Act if you feel there is a mistake you can file a dispute. Every month you will get a statement that will show how much you owe and a breakdown of your charges. When you look at your statement make sure you look over every detail.
Your problem asking, "How do the banks make their money?" The banks make their money by the interest that accrues if you do not pay your balance in full. The bank will give you a little time to pay off the total balance or there will be interest charged.
There are people that are set up with automatic payment and pay their bill directly out of their checking or savings account. But you are obligated to make a minimum monthly payment on your account.
There are a lot of people having credit card issues so they have unsecured credit cards which can be used any where depending on which merchant accepts their credit card account type.
When you are at higher risk on bad credit cards the bank will help you get the secured card. The secured card works by you depositing an amount into your credit card account, and this deposit becomes your credit card limit. If the money is out of your account the credit card will not work. What this means is you have to make sure that you put money in the bank to cover your cost. It is just like having a checking account.
This information should help you get started in getting your own credit card. Just know that your bank will help you get a credit card account by how your financial situation is and then you can get started and have your own credit.
Credit Card Questions And Answers
Credit Card Questions And Answers
by sas_upena1
How long is the grace period?
The grace period is the number of days you have to pay your bill in full without triggering a finance charge. For example, the credit card company may say that you have "25 days from the statement date, provided you paid your previous balance in full by the due date." The statement date is given on the bill.
The grace period usually applies only to new purchases. Most credit cards do not give a grace period for cash advances and balance transfers. Instead, interest charges start right away.
If you carried over any part of your balance from the preceding month, you may not have a grace period for new purchases. Instead, you may be charged interest as soon as you make a purchase (in addition to being charged interest on the earlier balance you have not paid off). Look on the credit card application for information about the "method of computing the balance for purchases" to see if new purchases are included or excluded. Information on methods of computing the balance is in the section "How is the finance charge calculated?"
How is the finance charge calculated?
The finance charge is the dollar amount you pay to use credit. The amount depends in part on your outstanding balance and the APR.
Credit card companies use one of several methods to calculate the outstanding balance. The method can make a big difference in the finance charge you'll pay. Your outstanding balance may be calculated Over one billing cycle or two, Using the adjusted balance, the average daily balance, or the previous balance, and
Including or excluding new purchases in the balance.
Depending on the balance you carry and the timing of your purchases and payments, you'll usually have a lower finance charge with one-cycle billing and either
The average daily balance method excluding new purchases,
The adjusted balance method or the previous balance method.
What is the minimum finance charge?
Some credit cards have a minimum finance charge. You'll be charged that minimum even if the calculated amount of your finance charge is less. For example, your finance charge may be calculated to be 35¢--but if the company's minimum finance charge is $1.00, you'll pay $1.00. A minimum finance charge usually applies only when you must pay a finance charge--that is, when you carry over a balance from one billing cycle to the next.
What are the fees?
Most credit cards charge fees under certain circumstances:
Annual fee (sometimes billed monthly). Charged for having the card Cash advance fee. Charged when you use the card for a cash advance; may be a flat fee (for example, $3.00) or a percentage of the cash advance (for example, 3%)
Balance-transfer fee. Charged when you transfer a balance from another credit card (Your credit card company may send you "checks" to pay off the other card. The balance is transferred when you use one of these checks to pay the amount due on the other card.)
Late-payment fee. Charged if your payment is received after the due date Over-the-credit-limit fee. Charged if you go over your credit limit
Credit-limit-increase fee. Charged if you ask for an increase in your credit limit
Set-up fee. Charged when a new credit card account is opened
Return-item fee. Charged if you pay your bill by check and the check is returned for non-sufficient funds (that is, your check bounces)
Other fees. Some credit card companies charge a fee if you pay by telephone (that is, if you arrange by phone for payment to be transferred from your bank to the company) or to cover the costs of reporting to credit bureaus, reviewing your account, or providing other customer services. Read the information in your credit card agreement to see if there are other fees and charges.
What are the cash advance features?
Some credit cards let you borrow cash in addition to making purchases on credit. Most credit card companies treat these cash advances and your purchases differently. If you plan to use your card for cash advances, look for information about
Access. Most credit cards let you use an ATM to get a cash advance. Or the credit card company may send you "checks" that you can write to get the cash advance. APR. The APR for cash advances may be higher than the APR for purchases.
Fees. The credit card company may charge a fee in addition to the interest you will pay on the amount advanced.
Limits. Some credit cards limit cash advances to a dollar amount (for example, $200 per cash advance or $500 per week) or a portion of your credit limit (for example, 75% of your available credit limit).
How payments are credited. Many credit card companies apply your payments to purchases first and then to cash advances. Read your credit card agreement to learn how your payments will be credited.
How much is the credit limit?
The credit limit is the maximum total amount--for purchases, cash advances, balance transfers, fees, and finance charges--you may charge on your credit card. If you go over this limit, you may have to pay an "over-the-credit-limit fee."
What kind of card is it?
Most credit card companies offer several kinds of cards:
Secured cards, which require a security deposit. The larger the security deposit, the higher the credit limit. Secured cards are usually offered to people who have limited credit records--people who are just starting out or who have had trouble with credit in the past.
Regular cards, which do not require a security deposit and have just a few features. Most regular cards have higher credit limits than secured cards but lower credit limits than premium cards. Premium cards (gold, platinum, titanium), which offer higher credit limits and usually have extra features--for example, product warranties, travel insurance, or emergency services.
Does the card offer incentives and other features?
Many credit card companies offer incentives to use the card and other special features: Rebates (money back) on the purchases you make Frequent flier miles or phone-call minutes Additional warranty coverage for the items you purchase Car rental insurance
Travel accident insurance or travel-related discounts Credit card registration, to help if your wallet or purse is lost or stolen and you need to report that all your credit cards are missing
Credit cards may also offer, for a price,
Insurance to cover the payments on your credit card balance if you become unemployed or disabled, or die. Premiums are usually due monthly, making it easy to cancel if the payments are higher than you want to pay or you decide you don't need the insurance any longer. Insurance to cover the first $50 of charges if your card is lost or stolen. Under federal law, you are not responsible for charges over $50.
Before you sign up to pay for any of these features, think carefully about whether it will be useful for you. Don't pay for something you don't want or don't need.
by sas_upena1
How long is the grace period?
The grace period is the number of days you have to pay your bill in full without triggering a finance charge. For example, the credit card company may say that you have "25 days from the statement date, provided you paid your previous balance in full by the due date." The statement date is given on the bill.
The grace period usually applies only to new purchases. Most credit cards do not give a grace period for cash advances and balance transfers. Instead, interest charges start right away.
If you carried over any part of your balance from the preceding month, you may not have a grace period for new purchases. Instead, you may be charged interest as soon as you make a purchase (in addition to being charged interest on the earlier balance you have not paid off). Look on the credit card application for information about the "method of computing the balance for purchases" to see if new purchases are included or excluded. Information on methods of computing the balance is in the section "How is the finance charge calculated?"
How is the finance charge calculated?
The finance charge is the dollar amount you pay to use credit. The amount depends in part on your outstanding balance and the APR.
Credit card companies use one of several methods to calculate the outstanding balance. The method can make a big difference in the finance charge you'll pay. Your outstanding balance may be calculated Over one billing cycle or two, Using the adjusted balance, the average daily balance, or the previous balance, and
Including or excluding new purchases in the balance.
Depending on the balance you carry and the timing of your purchases and payments, you'll usually have a lower finance charge with one-cycle billing and either
The average daily balance method excluding new purchases,
The adjusted balance method or the previous balance method.
What is the minimum finance charge?
Some credit cards have a minimum finance charge. You'll be charged that minimum even if the calculated amount of your finance charge is less. For example, your finance charge may be calculated to be 35¢--but if the company's minimum finance charge is $1.00, you'll pay $1.00. A minimum finance charge usually applies only when you must pay a finance charge--that is, when you carry over a balance from one billing cycle to the next.
What are the fees?
Most credit cards charge fees under certain circumstances:
Annual fee (sometimes billed monthly). Charged for having the card Cash advance fee. Charged when you use the card for a cash advance; may be a flat fee (for example, $3.00) or a percentage of the cash advance (for example, 3%)
Balance-transfer fee. Charged when you transfer a balance from another credit card (Your credit card company may send you "checks" to pay off the other card. The balance is transferred when you use one of these checks to pay the amount due on the other card.)
Late-payment fee. Charged if your payment is received after the due date Over-the-credit-limit fee. Charged if you go over your credit limit
Credit-limit-increase fee. Charged if you ask for an increase in your credit limit
Set-up fee. Charged when a new credit card account is opened
Return-item fee. Charged if you pay your bill by check and the check is returned for non-sufficient funds (that is, your check bounces)
Other fees. Some credit card companies charge a fee if you pay by telephone (that is, if you arrange by phone for payment to be transferred from your bank to the company) or to cover the costs of reporting to credit bureaus, reviewing your account, or providing other customer services. Read the information in your credit card agreement to see if there are other fees and charges.
What are the cash advance features?
Some credit cards let you borrow cash in addition to making purchases on credit. Most credit card companies treat these cash advances and your purchases differently. If you plan to use your card for cash advances, look for information about
Access. Most credit cards let you use an ATM to get a cash advance. Or the credit card company may send you "checks" that you can write to get the cash advance. APR. The APR for cash advances may be higher than the APR for purchases.
Fees. The credit card company may charge a fee in addition to the interest you will pay on the amount advanced.
Limits. Some credit cards limit cash advances to a dollar amount (for example, $200 per cash advance or $500 per week) or a portion of your credit limit (for example, 75% of your available credit limit).
How payments are credited. Many credit card companies apply your payments to purchases first and then to cash advances. Read your credit card agreement to learn how your payments will be credited.
How much is the credit limit?
The credit limit is the maximum total amount--for purchases, cash advances, balance transfers, fees, and finance charges--you may charge on your credit card. If you go over this limit, you may have to pay an "over-the-credit-limit fee."
What kind of card is it?
Most credit card companies offer several kinds of cards:
Secured cards, which require a security deposit. The larger the security deposit, the higher the credit limit. Secured cards are usually offered to people who have limited credit records--people who are just starting out or who have had trouble with credit in the past.
Regular cards, which do not require a security deposit and have just a few features. Most regular cards have higher credit limits than secured cards but lower credit limits than premium cards. Premium cards (gold, platinum, titanium), which offer higher credit limits and usually have extra features--for example, product warranties, travel insurance, or emergency services.
Does the card offer incentives and other features?
Many credit card companies offer incentives to use the card and other special features: Rebates (money back) on the purchases you make Frequent flier miles or phone-call minutes Additional warranty coverage for the items you purchase Car rental insurance
Travel accident insurance or travel-related discounts Credit card registration, to help if your wallet or purse is lost or stolen and you need to report that all your credit cards are missing
Credit cards may also offer, for a price,
Insurance to cover the payments on your credit card balance if you become unemployed or disabled, or die. Premiums are usually due monthly, making it easy to cancel if the payments are higher than you want to pay or you decide you don't need the insurance any longer. Insurance to cover the first $50 of charges if your card is lost or stolen. Under federal law, you are not responsible for charges over $50.
Before you sign up to pay for any of these features, think carefully about whether it will be useful for you. Don't pay for something you don't want or don't need.
Wednesday, April 1, 2009
Choosing And Using Credit Cards
Choosing And Using Credit Cards
by sas_upena1
Chances are you've gotten your share of "pre-approved" credit card offers in the mail, some with low introductory rates and other perks. Many of these solicitations urge you to accept "before the offer expires." Before you accept, shop around to get the best deal.
Credit Card Terms
A credit card is a form of borrowing that often involves charges. Credit terms and conditions affect your overall cost. So it's wise to compare terms and fees before you agree to open a credit or charge card account. The following are some important terms to consider that generally must be disclosed in credit card applications or in solicitations that require no application. You also may want to ask about these terms when you're shopping for a card.
Annual Percentage Rate. The APR is a measure of the cost of credit, expressed as a yearly rate. It also must be disclosed before you become obligated on the account and on your account statements.
The card issuer also must disclose the "periodic rate" - the rate applied to your outstanding balance to figure the finance charge for each billing period.
Some credit card plans allow the issuer to change your APR when interest rates or other economic indicators - called indexes - change. Because the rate change is linked to the index's performance, these plans are called "variable rate" programs. Rate changes raise or lower the finance charge on your account. If you're considering a variable rate card, the issuer must also provide various information that discloses to you:
that the rate may change; and
how the rate is determined - which index is used and what additional amount, the "margin," is added to determine your new rate.
At the latest, you also must receive information, before you become obligated on the account, about any limitations on how much and how often your rate may change.
Free Period. Also called a "grace period," a free period lets you avoid finance charges by paying your balance in full before the due date. Knowing whether a card gives you a free period is especially important if you plan to pay your account in full each month. Without a free period, the card issuer may impose a finance charge from the date you use your card or from the date each transaction is posted to your account. If your card includes a free period, the issuer must mail your bill at least 14 days before the due date so you'll have enough time to pay.
Annual Fees. Most issuers charge annual membership or participation fees. They often range from $25 to $50, sometimes up to $100; "gold" or "platinum" cards often charge up to $75 and sometimes up to several hundred dollars.
Transaction Fees and Other Charges. A card may include other costs. Some issuers charge a fee if you use the card to get a cash advance, make a late payment, or exceed your credit limit. Some charge a monthly fee whether or not you use the card.
Balance Computation Method for the Finance Charge. If you don't have a free period, or if you expect to pay for purchases over time, it's important to know what method the issuer uses to calculate your finance charge. This can make a big difference in how much of a finance charge you'll pay - even if the APR and your buying patterns remain relatively constant. See page 4 for examples of how the methods can affect your costs.
Examples of balance computation methods include the following.
Average Daily Balance. This is the most common calculation method. It credits your account from the day payment is received by the issuer. To figure the balance due, the issuer totals the beginning balance for each day in the billing period and subtracts any credits made to your account that day. While new purchases may or may not be added to the balance, depending on your plan, cash advances typically are included. The resulting daily balances are added for the billing cycle. The total is then divided by the number of days in the billing period to get the "average daily balance."
Adjusted Balance. This is usually the most advantageous method for card holders. Your balance is determined by subtracting payments or credits received during the current billing period from the balance at the end of the previous billing period. Purchases made during the billing period aren't included.
This method gives you until the end of the billing cycle to pay a portion of your balance to avoid the interest charges on that amount. Some creditors exclude prior, unpaid finance charges from the previous balance.
Previous Balance. This is the amount you owed at the end of the previous billing period.
Payments, credits and new purchases during the current billing period are not included. Some creditors also exclude unpaid finance charges.
Two-cycle Balances. Issuers sometimes use various methods to calculate your balance that make use of your last two month's account activity. Read your agreement carefully to find out if your issuer uses this approach and, if so, what specific two-cycle method is used.
If you don't understand how your balance is calculated, ask your card issuer. An explanation must also appear on your billing statements.
Other Costs and Features
Credit terms vary among issuers. When shopping for a card, think about how you plan to use it. If you expect to pay your bills in full each month, the annual fee and other charges may be more important than the periodic rate and the APR, if there is a grace period for purchases. However, if you use the cash advance feature, many cards do not permit a grace period for the amounts due - even if they have a grace period for purchases. So, it may still be wise to consider the APR and balance computation method. Also, if you plan to pay for purchases over time, the APR and the balance computation method are definitely major considerations.
You'll probably also want to consider if the credit limit is high enough, how widely the card is accepted, and the plan's services and features. For example, you may be interested in "affinity cards" - all-purpose credit cards sponsored by professional organizations, college alumni associations and some members of the travel industry. An affinity card issuer often donates a portion of the annual fees or charges to the sponsoring organization, or qualifies you for free travel or other bonuses.
Special Delinquency Rates. Some cards with low rates for on-time payments apply a very high APR if you are late a certain number of times in any specified time period. These rates sometimes exceed 20 percent. Information about delinquency rates should be disclosed to you in credit card applications or in solicitations that do not require an application.
by sas_upena1
Chances are you've gotten your share of "pre-approved" credit card offers in the mail, some with low introductory rates and other perks. Many of these solicitations urge you to accept "before the offer expires." Before you accept, shop around to get the best deal.
Credit Card Terms
A credit card is a form of borrowing that often involves charges. Credit terms and conditions affect your overall cost. So it's wise to compare terms and fees before you agree to open a credit or charge card account. The following are some important terms to consider that generally must be disclosed in credit card applications or in solicitations that require no application. You also may want to ask about these terms when you're shopping for a card.
Annual Percentage Rate. The APR is a measure of the cost of credit, expressed as a yearly rate. It also must be disclosed before you become obligated on the account and on your account statements.
The card issuer also must disclose the "periodic rate" - the rate applied to your outstanding balance to figure the finance charge for each billing period.
Some credit card plans allow the issuer to change your APR when interest rates or other economic indicators - called indexes - change. Because the rate change is linked to the index's performance, these plans are called "variable rate" programs. Rate changes raise or lower the finance charge on your account. If you're considering a variable rate card, the issuer must also provide various information that discloses to you:
that the rate may change; and
how the rate is determined - which index is used and what additional amount, the "margin," is added to determine your new rate.
At the latest, you also must receive information, before you become obligated on the account, about any limitations on how much and how often your rate may change.
Free Period. Also called a "grace period," a free period lets you avoid finance charges by paying your balance in full before the due date. Knowing whether a card gives you a free period is especially important if you plan to pay your account in full each month. Without a free period, the card issuer may impose a finance charge from the date you use your card or from the date each transaction is posted to your account. If your card includes a free period, the issuer must mail your bill at least 14 days before the due date so you'll have enough time to pay.
Annual Fees. Most issuers charge annual membership or participation fees. They often range from $25 to $50, sometimes up to $100; "gold" or "platinum" cards often charge up to $75 and sometimes up to several hundred dollars.
Transaction Fees and Other Charges. A card may include other costs. Some issuers charge a fee if you use the card to get a cash advance, make a late payment, or exceed your credit limit. Some charge a monthly fee whether or not you use the card.
Balance Computation Method for the Finance Charge. If you don't have a free period, or if you expect to pay for purchases over time, it's important to know what method the issuer uses to calculate your finance charge. This can make a big difference in how much of a finance charge you'll pay - even if the APR and your buying patterns remain relatively constant. See page 4 for examples of how the methods can affect your costs.
Examples of balance computation methods include the following.
Average Daily Balance. This is the most common calculation method. It credits your account from the day payment is received by the issuer. To figure the balance due, the issuer totals the beginning balance for each day in the billing period and subtracts any credits made to your account that day. While new purchases may or may not be added to the balance, depending on your plan, cash advances typically are included. The resulting daily balances are added for the billing cycle. The total is then divided by the number of days in the billing period to get the "average daily balance."
Adjusted Balance. This is usually the most advantageous method for card holders. Your balance is determined by subtracting payments or credits received during the current billing period from the balance at the end of the previous billing period. Purchases made during the billing period aren't included.
This method gives you until the end of the billing cycle to pay a portion of your balance to avoid the interest charges on that amount. Some creditors exclude prior, unpaid finance charges from the previous balance.
Previous Balance. This is the amount you owed at the end of the previous billing period.
Payments, credits and new purchases during the current billing period are not included. Some creditors also exclude unpaid finance charges.
Two-cycle Balances. Issuers sometimes use various methods to calculate your balance that make use of your last two month's account activity. Read your agreement carefully to find out if your issuer uses this approach and, if so, what specific two-cycle method is used.
If you don't understand how your balance is calculated, ask your card issuer. An explanation must also appear on your billing statements.
Other Costs and Features
Credit terms vary among issuers. When shopping for a card, think about how you plan to use it. If you expect to pay your bills in full each month, the annual fee and other charges may be more important than the periodic rate and the APR, if there is a grace period for purchases. However, if you use the cash advance feature, many cards do not permit a grace period for the amounts due - even if they have a grace period for purchases. So, it may still be wise to consider the APR and balance computation method. Also, if you plan to pay for purchases over time, the APR and the balance computation method are definitely major considerations.
You'll probably also want to consider if the credit limit is high enough, how widely the card is accepted, and the plan's services and features. For example, you may be interested in "affinity cards" - all-purpose credit cards sponsored by professional organizations, college alumni associations and some members of the travel industry. An affinity card issuer often donates a portion of the annual fees or charges to the sponsoring organization, or qualifies you for free travel or other bonuses.
Special Delinquency Rates. Some cards with low rates for on-time payments apply a very high APR if you are late a certain number of times in any specified time period. These rates sometimes exceed 20 percent. Information about delinquency rates should be disclosed to you in credit card applications or in solicitations that do not require an application.
Need Tips About Your First Credit Card
Need Tips About Your First Credit Card
by Deanna Mascle
You're finally out in the real world and you probably want to buy a car or a house of your own. You might think that it would be easy, considering you don't have any bad credit; in fact, you don't have any good credit either. You don't have any credit at all - period. You might think that this wouldn't work against you, but it will. Future creditors need to see some kind of record that reflects your ability to pay back a loan. Without that many places are reluctant to give you a loan for a car or a house. So what is the best way to begin to establish your credit? You will have to start with getting a credit card and making a few purchases on that to show that you are capable of paying back a loan in a timely manner.
When deciding which credit card to start with, you should sit down and evaluate some things about yourself. For instance, are you someone who procrastinates? Do you have steady income that will allow you to pay the bills? Why do you want a credit card in the first place? It is very important to be honest with yourself when you answer these questions because it is easy to get into a hole that you can't crawl out from. Even if you feel like you are the most irresponsible person on earth, but you still want a credit card, a good one to get is the American Express green card. The Amex card has to be paid off every month, and you may be willing to spend less if you know that there is not going to be a minimum balance.
Finding the right credit card can be confusing because there are a lot of things to keep up with like APR, annual fees, and hidden charges. The best way to compare credit cards is to compare the APRs. The general rule is that the lower the APR, the lower the cost of credit. Try to look out for the hidden charges that are behind credit card companies. Sometimes companies like to hide things away in the fine print. Even if fine print annoys you, you should try to read it. There are often times charges for charging more than your credit limit, late fees, or periodic finance charges. Little charges here and there will end up costing you massive amounts in the long run.
When you use your first credit card there are some rules that you should follow. You should always shred your receipts, and also shred any credit card offers that you are not considering. Do not ever give your credit card number over the phone unless you are the one who initiated the phone call to the company that you are ordering things from, or trying to get a bill paid. Keep the customer service numbers of all of your credit cards in a safe place. Sometimes companies will send you a new card and it will get lost in the mail, an automated system will ask for your information before it will let you proceed, however, if you don't have a customer service number, you will have to wait until your next bill comes in. You would think that calling the store would help, but incompetence runs rampant in all parts of the world.
Try your hardest not to get a credit card in the first place. I know this may seem like impossibility, but they are only troublesome beasts. If you have to get one, make sure that you have really thought about what you are capable of, and how you are going to manage your money.
by Deanna Mascle
You're finally out in the real world and you probably want to buy a car or a house of your own. You might think that it would be easy, considering you don't have any bad credit; in fact, you don't have any good credit either. You don't have any credit at all - period. You might think that this wouldn't work against you, but it will. Future creditors need to see some kind of record that reflects your ability to pay back a loan. Without that many places are reluctant to give you a loan for a car or a house. So what is the best way to begin to establish your credit? You will have to start with getting a credit card and making a few purchases on that to show that you are capable of paying back a loan in a timely manner.
When deciding which credit card to start with, you should sit down and evaluate some things about yourself. For instance, are you someone who procrastinates? Do you have steady income that will allow you to pay the bills? Why do you want a credit card in the first place? It is very important to be honest with yourself when you answer these questions because it is easy to get into a hole that you can't crawl out from. Even if you feel like you are the most irresponsible person on earth, but you still want a credit card, a good one to get is the American Express green card. The Amex card has to be paid off every month, and you may be willing to spend less if you know that there is not going to be a minimum balance.
Finding the right credit card can be confusing because there are a lot of things to keep up with like APR, annual fees, and hidden charges. The best way to compare credit cards is to compare the APRs. The general rule is that the lower the APR, the lower the cost of credit. Try to look out for the hidden charges that are behind credit card companies. Sometimes companies like to hide things away in the fine print. Even if fine print annoys you, you should try to read it. There are often times charges for charging more than your credit limit, late fees, or periodic finance charges. Little charges here and there will end up costing you massive amounts in the long run.
When you use your first credit card there are some rules that you should follow. You should always shred your receipts, and also shred any credit card offers that you are not considering. Do not ever give your credit card number over the phone unless you are the one who initiated the phone call to the company that you are ordering things from, or trying to get a bill paid. Keep the customer service numbers of all of your credit cards in a safe place. Sometimes companies will send you a new card and it will get lost in the mail, an automated system will ask for your information before it will let you proceed, however, if you don't have a customer service number, you will have to wait until your next bill comes in. You would think that calling the store would help, but incompetence runs rampant in all parts of the world.
Try your hardest not to get a credit card in the first place. I know this may seem like impossibility, but they are only troublesome beasts. If you have to get one, make sure that you have really thought about what you are capable of, and how you are going to manage your money.
Simplify Your Bookkeeping With Credit Cards
Simplify Your Bookkeeping With Credit Cards
by Debbie Dragon
Did you know that just by having a credit card for your business that you can actually help in your bookkeeping efforts? It's true, a business credit card can not only help you separate your business and personal expenses, but it can also help you manage your finances at the same time. Many credit card companies that offer business credit cards also offer reports of your account. These reports may come monthly, quarterly, or annually. In some cases, it is generated for you and in others you have to request the reports.
No matter which type of report you need or receive, the one thing about business credit cards is that they can be of great help when it comes time to tend to your bookkeeping duties. The great thing about these reports is that when they are created in many cases they are categorized. For instance, if you have multiple additional cards for your employees or partners, each card number will have its own section.
These sections will define the usage of each number as well. This is a great way to not only determine where your expenses are going and whom they are going to, but also to determine if there is any abuse with the cards. Another great thing about these reports is the fact that they can also be categorized by expense type.
This means that when your reports come to you, they will have sections regarding expense categories. This could include categories such as gas and fuel, office supplies, travel expenses, food and hotel expenses, or miscellaneous expenses. This is excellent for your bookkeeping records. It allows you to simply look at your reports and place the appropriate amounts in the appropriate categories.
In some cases, credit card companies offer these in paper and digital form. The digital form of the reports can actually save you a great deal of time as well. Just think, if you download the report in the right format, you can transfer it directly into your financial or accounting software program and it most cases it will read the file and put the items where they need, without much help from you.
Using a business credit card offers many benefits to your business. Not only can you simplify your bookkeeping tasks, but you can save time, and money as well. If you know just where all of your business money is going, you can better plan and budget for everything. It allows you to keep track of expenses easily and efficiently, ensuring that your business is operating at full efficiency and productivity at all time.
Other benefits of a business credit card include bonuses and rewards that your business can earn with each purchase made. This means that you can save even more money on business expenses such as office supplies, travel, accommodations, and so much more. Having a business credit card just makes sense in so many different ways.
The one thing you really need to do is research and compare the different credit cards. It is important to choose the credit card that benefits your business the most. For example, if you travel a great deal on business trips, you might want to consider a frequent flyer credit card that gives you incentives such as free airline tickets, upgrades, and so much more.
If you shop at a certain office supply most often, you should consider one that allows you to save money on office supplies or at that certain store. There are so many different types of credit cards available for your business, it is up to you to choose the one that makes owning a business easier.
by Debbie Dragon
Did you know that just by having a credit card for your business that you can actually help in your bookkeeping efforts? It's true, a business credit card can not only help you separate your business and personal expenses, but it can also help you manage your finances at the same time. Many credit card companies that offer business credit cards also offer reports of your account. These reports may come monthly, quarterly, or annually. In some cases, it is generated for you and in others you have to request the reports.
No matter which type of report you need or receive, the one thing about business credit cards is that they can be of great help when it comes time to tend to your bookkeeping duties. The great thing about these reports is that when they are created in many cases they are categorized. For instance, if you have multiple additional cards for your employees or partners, each card number will have its own section.
These sections will define the usage of each number as well. This is a great way to not only determine where your expenses are going and whom they are going to, but also to determine if there is any abuse with the cards. Another great thing about these reports is the fact that they can also be categorized by expense type.
This means that when your reports come to you, they will have sections regarding expense categories. This could include categories such as gas and fuel, office supplies, travel expenses, food and hotel expenses, or miscellaneous expenses. This is excellent for your bookkeeping records. It allows you to simply look at your reports and place the appropriate amounts in the appropriate categories.
In some cases, credit card companies offer these in paper and digital form. The digital form of the reports can actually save you a great deal of time as well. Just think, if you download the report in the right format, you can transfer it directly into your financial or accounting software program and it most cases it will read the file and put the items where they need, without much help from you.
Using a business credit card offers many benefits to your business. Not only can you simplify your bookkeeping tasks, but you can save time, and money as well. If you know just where all of your business money is going, you can better plan and budget for everything. It allows you to keep track of expenses easily and efficiently, ensuring that your business is operating at full efficiency and productivity at all time.
Other benefits of a business credit card include bonuses and rewards that your business can earn with each purchase made. This means that you can save even more money on business expenses such as office supplies, travel, accommodations, and so much more. Having a business credit card just makes sense in so many different ways.
The one thing you really need to do is research and compare the different credit cards. It is important to choose the credit card that benefits your business the most. For example, if you travel a great deal on business trips, you might want to consider a frequent flyer credit card that gives you incentives such as free airline tickets, upgrades, and so much more.
If you shop at a certain office supply most often, you should consider one that allows you to save money on office supplies or at that certain store. There are so many different types of credit cards available for your business, it is up to you to choose the one that makes owning a business easier.
How To Use Your Credit Card Intelligently
How To Use Your Credit Card Intelligently
by Richard Adams
Credit cards are a true godsend as they provide a safe and effective way to make purchases when one does not wish to carry large sums of money around. Additionally, they provide an effective means of accessing financial resources during an emergency when actual capital might be limited. Yes, credit cards do offer a great number of benefits, but these benefits will be completely turned on their head when a credit card is not used intelligently. If a credit card is used foolishly or irresponsibly, then the results may prove to be downright disastrous. That is to say, if one is buried under a massive mountain of debt, whatever benefits the cards previously possessed will be undermined. As such, it is critical to use a credit card intelligently and here are a few simple guidelines to help you in that regard.
First, what must be understood that "using a credit card" start not with the very first time you make a credit card purchase, but with the actual application process. That is to say, it is critical to select the right card before even attempting to use it. For example, American Express requires that its entire balance be paid off in full every month. If you are unable to do this, then you should not be using an American express card as the potential to ruin your credit from missed payments becomes extremely likely. As such, select the right card that fits your needs off the bat.
This brings us to our next point - select a card that is low in interest. If you are using a card that has a very high interest rate, you are simply not using your card intelligently. If you accept a card with a 19% interest rate when you could have had a card at a 12% interest rate, then you have simply made life much more difficult for yourself as you will be amassing a significant amount of interest payments that could have been completely avoided.
This brings about the next point which is one that most people overlook: credit cards are not gifts; they are loans. When you use a credit card to make a purchase, you have to pay the loan back. Yes, this may seem like a very simple notion, but many, many people do not even think of it! As such, they overspend and overcharge with their card and this can lead to a massive amount of debt in a very short period of time. Often, the debts that are accrued are debts based on needless leisure purchases. This type of reckless spending is probably the most unintelligent manner in which to use a credit card. Of course, everyone needs to spend an entertainment dollar here and there and this is understandable. However, when one is reckless with this type of spending the results can be cataclysmic. So, it is best to stick within a reasonable budget for entertainment purchases and not allow fiscal irresponsibility to cause financial Armageddon.
Here is also another tip that can keep costs low: pay cash whenever possible. That is to say, do not get into the habit of always pulling out the credit card and using it to make purchases when cash is available. This is a surefire way of amassing needless debts so do not get into this habit!
Ultimately, the most intelligent way to use a credit card is to use it with common sense and proper financial decision making. If you follow some basic, simple guidelines of financial responsibility then such credit card errors and problems will be avoided. Credit cards are a good thing to have; don't turn them into something bad!
by Richard Adams
Credit cards are a true godsend as they provide a safe and effective way to make purchases when one does not wish to carry large sums of money around. Additionally, they provide an effective means of accessing financial resources during an emergency when actual capital might be limited. Yes, credit cards do offer a great number of benefits, but these benefits will be completely turned on their head when a credit card is not used intelligently. If a credit card is used foolishly or irresponsibly, then the results may prove to be downright disastrous. That is to say, if one is buried under a massive mountain of debt, whatever benefits the cards previously possessed will be undermined. As such, it is critical to use a credit card intelligently and here are a few simple guidelines to help you in that regard.
First, what must be understood that "using a credit card" start not with the very first time you make a credit card purchase, but with the actual application process. That is to say, it is critical to select the right card before even attempting to use it. For example, American Express requires that its entire balance be paid off in full every month. If you are unable to do this, then you should not be using an American express card as the potential to ruin your credit from missed payments becomes extremely likely. As such, select the right card that fits your needs off the bat.
This brings us to our next point - select a card that is low in interest. If you are using a card that has a very high interest rate, you are simply not using your card intelligently. If you accept a card with a 19% interest rate when you could have had a card at a 12% interest rate, then you have simply made life much more difficult for yourself as you will be amassing a significant amount of interest payments that could have been completely avoided.
This brings about the next point which is one that most people overlook: credit cards are not gifts; they are loans. When you use a credit card to make a purchase, you have to pay the loan back. Yes, this may seem like a very simple notion, but many, many people do not even think of it! As such, they overspend and overcharge with their card and this can lead to a massive amount of debt in a very short period of time. Often, the debts that are accrued are debts based on needless leisure purchases. This type of reckless spending is probably the most unintelligent manner in which to use a credit card. Of course, everyone needs to spend an entertainment dollar here and there and this is understandable. However, when one is reckless with this type of spending the results can be cataclysmic. So, it is best to stick within a reasonable budget for entertainment purchases and not allow fiscal irresponsibility to cause financial Armageddon.
Here is also another tip that can keep costs low: pay cash whenever possible. That is to say, do not get into the habit of always pulling out the credit card and using it to make purchases when cash is available. This is a surefire way of amassing needless debts so do not get into this habit!
Ultimately, the most intelligent way to use a credit card is to use it with common sense and proper financial decision making. If you follow some basic, simple guidelines of financial responsibility then such credit card errors and problems will be avoided. Credit cards are a good thing to have; don't turn them into something bad!
Your Credit Card Processing Bill of Rights
Your Credit Card Processing Bill of Rights
by Jim Osterman
Whether a business is a traditional brick-and-mortar establishment or a Web-based retailer " or both " its unlikely any merchant can thrive in today's economy without the ability to accept credit cards.
With the change in the amount of money charge card operators are allowed to accept, people are using their plastic for fast-food meals, designer coffee drinks and other minor purchases. As such, fewer people are carrying cash, which means the merchant that doesn't have credit card processing is going to miss an increasing number of sales.
On the Internet, more than 80% of all goods and services procured are paid for with a credit card. Fewer consumers are willing to place their order via a paper check when they can speed up the process by using their plastic.
However, if you are one of those businesses that have not added merchant account service, it's not too late. Indeed, there may never be a better time to do so than now, with the proliferation of companies offering card processing.
While all merchant services companies do have fees, competition has pushed some of them to waive certain fees, discount others, or bundle services into more cost-effective packages. The key for the merchant to draft their own “customer bill of rights as they undertake a search for the right card processing partner.
First, they have the right to review as many companies as they need to so they can come to a well-informed decision. For some this will be two or three, others may start by looking at a dozen providers.
Second, they have the right to compare apples to apples. What companies are offering what services and what's the bottom-lone price? And if someone is bundling credit card processing services and claiming that will result in cost savings, make them prove it.
Third, they have the right ask questions. How many? As many as it takes until they feel they have all the necessary information they need to make an informed decision that is in the best interest of their business.
Fourth, they have the right to test drive any provider's services connected to their ability to accept credit cards. Reliable merchant service providers will have demo's that allow a prospect to see how their particular process works, and how quickly they can find their comfort level with it. Additionally, they should be able to call a company's technical support and customer service center to get a sense of how well that department would respond if there's a problem.
Fifth, any merchant account company should have the flexibility to grow as their customers grow. Studies have found that businesses that have credit card processing capabilities are more likely to see increased traffic and sales. And that means their needs today will not be the same six months or a year from now. As such the contract they sign today shouldn't penalize them later for being successful.
Sixth, they should expect the company they sign with to accept credit cards to view them as a partner, not just another account. As such, there should be the expectation that both parties are invested in the other's growth and future success.
by Jim Osterman
Whether a business is a traditional brick-and-mortar establishment or a Web-based retailer " or both " its unlikely any merchant can thrive in today's economy without the ability to accept credit cards.
With the change in the amount of money charge card operators are allowed to accept, people are using their plastic for fast-food meals, designer coffee drinks and other minor purchases. As such, fewer people are carrying cash, which means the merchant that doesn't have credit card processing is going to miss an increasing number of sales.
On the Internet, more than 80% of all goods and services procured are paid for with a credit card. Fewer consumers are willing to place their order via a paper check when they can speed up the process by using their plastic.
However, if you are one of those businesses that have not added merchant account service, it's not too late. Indeed, there may never be a better time to do so than now, with the proliferation of companies offering card processing.
While all merchant services companies do have fees, competition has pushed some of them to waive certain fees, discount others, or bundle services into more cost-effective packages. The key for the merchant to draft their own “customer bill of rights as they undertake a search for the right card processing partner.
First, they have the right to review as many companies as they need to so they can come to a well-informed decision. For some this will be two or three, others may start by looking at a dozen providers.
Second, they have the right to compare apples to apples. What companies are offering what services and what's the bottom-lone price? And if someone is bundling credit card processing services and claiming that will result in cost savings, make them prove it.
Third, they have the right ask questions. How many? As many as it takes until they feel they have all the necessary information they need to make an informed decision that is in the best interest of their business.
Fourth, they have the right to test drive any provider's services connected to their ability to accept credit cards. Reliable merchant service providers will have demo's that allow a prospect to see how their particular process works, and how quickly they can find their comfort level with it. Additionally, they should be able to call a company's technical support and customer service center to get a sense of how well that department would respond if there's a problem.
Fifth, any merchant account company should have the flexibility to grow as their customers grow. Studies have found that businesses that have credit card processing capabilities are more likely to see increased traffic and sales. And that means their needs today will not be the same six months or a year from now. As such the contract they sign today shouldn't penalize them later for being successful.
Sixth, they should expect the company they sign with to accept credit cards to view them as a partner, not just another account. As such, there should be the expectation that both parties are invested in the other's growth and future success.
Tuesday, March 24, 2009
Want Answers About Your First Credit Card
Want Answers About Your First Credit Card
by Deanna Mascle
Stepping into the adult world presents a lot of new issues you may never have considered before. Among these new problems is how to establish credit. So many people find themselves ready to leave their parents' home to get a home or apartment of their own only to find out that they can't get certain things like a place to live and the utilities that go with it because they don't have sufficient credit. Sometimes having no credit can be worse than having bad credit. When you are trying to get a loan for a car or a house your future creditors want to make sure you can pay the loan back. They have no records to look at to tell them if you will do this or not. It might sound like a Catch 22, but you will have to start by getting a credit card and making a few purchases.
When deciding which credit card to start with, you should sit down and evaluate some things about yourself. For instance, are you someone who procrastinates? Do you have steady income that will allow you to pay the bills? Why do you want a credit card in the first place? It is very important to be honest with yourself when you answer these questions because it is easy to get into a hole that you can't crawl out from. Even if you feel like you are the most irresponsible person on earth, but you still want a credit card, a good one to get is the American Express green card. The Amex card has to be paid off every month, and you may be willing to spend less if you know that there is not going to be a minimum balance.
Finding the right credit card can be confusing because there are a lot of things to keep up with like APR, annual fees, and hidden charges. The best way to compare credit cards is to compare the APRs. The general rule is that the lower the APR, the lower the cost of credit. Try to look out for the hidden charges that are behind credit card companies. Sometimes companies like to hide things away in the fine print. Even if fine print annoys you, you should try to read it. There are often times charges for charging more than your credit limit, late fees, or periodic finance charges. Little charges here and there will end up costing you massive amounts in the long run.
When you use your first credit card there are some rules that you should follow. You should always shred your receipts, and also shred any credit card offers that you are not considering. Do not ever give your credit card number over the phone unless you are the one who initiated the phone call to the company that you are ordering things from, or trying to get a bill paid. Keep the customer service numbers of all of your credit cards in a safe place. Sometimes companies will send you a new card and it will get lost in the mail, an automated system will ask for your information before it will let you proceed, however, if you don't have a customer service number, you will have to wait until your next bill comes in. You would think that calling the store would help, but incompetence runs rampant in all parts of the world.
Try your hardest not to get a credit card in the first place. I know this may seem like impossibility, but they are only troublesome beasts. If you have to get one, make sure that you have really thought about what you are capable of, and how you are going to manage your money.
by Deanna Mascle
Stepping into the adult world presents a lot of new issues you may never have considered before. Among these new problems is how to establish credit. So many people find themselves ready to leave their parents' home to get a home or apartment of their own only to find out that they can't get certain things like a place to live and the utilities that go with it because they don't have sufficient credit. Sometimes having no credit can be worse than having bad credit. When you are trying to get a loan for a car or a house your future creditors want to make sure you can pay the loan back. They have no records to look at to tell them if you will do this or not. It might sound like a Catch 22, but you will have to start by getting a credit card and making a few purchases.
When deciding which credit card to start with, you should sit down and evaluate some things about yourself. For instance, are you someone who procrastinates? Do you have steady income that will allow you to pay the bills? Why do you want a credit card in the first place? It is very important to be honest with yourself when you answer these questions because it is easy to get into a hole that you can't crawl out from. Even if you feel like you are the most irresponsible person on earth, but you still want a credit card, a good one to get is the American Express green card. The Amex card has to be paid off every month, and you may be willing to spend less if you know that there is not going to be a minimum balance.
Finding the right credit card can be confusing because there are a lot of things to keep up with like APR, annual fees, and hidden charges. The best way to compare credit cards is to compare the APRs. The general rule is that the lower the APR, the lower the cost of credit. Try to look out for the hidden charges that are behind credit card companies. Sometimes companies like to hide things away in the fine print. Even if fine print annoys you, you should try to read it. There are often times charges for charging more than your credit limit, late fees, or periodic finance charges. Little charges here and there will end up costing you massive amounts in the long run.
When you use your first credit card there are some rules that you should follow. You should always shred your receipts, and also shred any credit card offers that you are not considering. Do not ever give your credit card number over the phone unless you are the one who initiated the phone call to the company that you are ordering things from, or trying to get a bill paid. Keep the customer service numbers of all of your credit cards in a safe place. Sometimes companies will send you a new card and it will get lost in the mail, an automated system will ask for your information before it will let you proceed, however, if you don't have a customer service number, you will have to wait until your next bill comes in. You would think that calling the store would help, but incompetence runs rampant in all parts of the world.
Try your hardest not to get a credit card in the first place. I know this may seem like impossibility, but they are only troublesome beasts. If you have to get one, make sure that you have really thought about what you are capable of, and how you are going to manage your money.
Credit Card Debt Management: Cure Yourself Of Debts
Credit Card Debt Management: Cure Yourself Of Debts
by Elaine Owen
We make the use of credit cards to help us around when we are not carrying enough cash so that we do not have to compromise on our needs or miss any opportunity. But nowadays debts seem to be the only thing that they result in. these debts can be easily removed if the borrower takes up Credit Card Debt Management.
The first and foremost way to put a brake to the creation of debts is to stop the usage of credit cards. It is mainly due to the careless and limitless spending by the borrower through the card which is often more than one for the user. This usage of multiple cards actually is an obstruction in the removal of debts.
The borrowers can remove their debts easily through a couple of ways which are available to them. The first way is to get a new credit card which offers zero interest on the payments in the initial period of payments. This is a usual offer by most cards for promotion but can be used by the borrowers to repay their debts to the earlier lenders without any extra cost. The other way through which the borrowers can resolve their debts is through a fresh loan that can be borrowed by them easily. This loan will be borrowed in an amount which is equal to all the debts consolidated for the borrower. He can repay all his debts with this money and remove them easily. This will help the borrower by saving money as the rate of interest will be lower than that charged on the unpaid multiple debts. Also, the hassle of multiple repayments can be removed by repaying just a single loan amount.
The borrowers can look for these services which can help them through the online mode. Low cost management services are available for the borrowers which solves the problems of money very easily. With these credit card debt management services, the burdened financial history of the borrowers can be easily corrected without any problems.
by Elaine Owen
We make the use of credit cards to help us around when we are not carrying enough cash so that we do not have to compromise on our needs or miss any opportunity. But nowadays debts seem to be the only thing that they result in. these debts can be easily removed if the borrower takes up Credit Card Debt Management.
The first and foremost way to put a brake to the creation of debts is to stop the usage of credit cards. It is mainly due to the careless and limitless spending by the borrower through the card which is often more than one for the user. This usage of multiple cards actually is an obstruction in the removal of debts.
The borrowers can remove their debts easily through a couple of ways which are available to them. The first way is to get a new credit card which offers zero interest on the payments in the initial period of payments. This is a usual offer by most cards for promotion but can be used by the borrowers to repay their debts to the earlier lenders without any extra cost. The other way through which the borrowers can resolve their debts is through a fresh loan that can be borrowed by them easily. This loan will be borrowed in an amount which is equal to all the debts consolidated for the borrower. He can repay all his debts with this money and remove them easily. This will help the borrower by saving money as the rate of interest will be lower than that charged on the unpaid multiple debts. Also, the hassle of multiple repayments can be removed by repaying just a single loan amount.
The borrowers can look for these services which can help them through the online mode. Low cost management services are available for the borrowers which solves the problems of money very easily. With these credit card debt management services, the burdened financial history of the borrowers can be easily corrected without any problems.
How to be A Credit Card Debt Dummy
How to be A Credit Card Debt Dummy
by John Stevenson
Anyone that is living or about to live on their own, be they high school graduates or middle aged parents, should understand the uses and perils of credit cards. They can be fantastic tools for charging items when you're a little too short on cash, but using them too often and to charge very large purchases can result in massive debt that some people find it nearly impossible to escape from. The average credit card debt in the US is over $9,000. Chances are you are one of the people that should read about info on credit card debt.
How to Get into Debt
Getting into debt is a lot easier than most people realize. That's a pretty silly statement isn't it? It would be except it is so true. I've been there myself. So how does somebody get into credit card debt without their realizing it at the time? They most likely make a lot of small purchases which add up over time. While eating out at McDonald's or seeing a movie at the theater doesn't seem like much at the time, continual small purchases do add up. A $5 purchase once a day, like that mocha latte you love so much, adds up to $150 a month. Therefore, try paying small purchases with cash or a debit card as opposed to a credit card. Or cut out the latte a few times a week.
I'm sure you know enough about getting in to debt. What should you do to get out of debt? Don't ignore the bills! If you do, your credit rating will suffer, making loans and other lines of credit harder to acquire over time. When you get bills, pay them on time. This will help minimize the interest that you accumulate from credit companies. Interest doesn't go down on its own. When many people ignore it, it grows to unmanageable proportions. A $5,000 balance can grow to $15,000. Pay your bills.
Are you in over your head? For more info on credit card debt, you can turn to credit counseling companies to give you an idea of how long it would take to pay off a particular balance with a particular interest rate. Better yet, stop making the minimum payments. By paying more than the minimum payment, you can easily shave 50% of the interest payments off. This is just a basic amount of info on credit card debt. Don't let it ruin your life. For more information please visit Reduce Credit Card Debt.
by John Stevenson
Anyone that is living or about to live on their own, be they high school graduates or middle aged parents, should understand the uses and perils of credit cards. They can be fantastic tools for charging items when you're a little too short on cash, but using them too often and to charge very large purchases can result in massive debt that some people find it nearly impossible to escape from. The average credit card debt in the US is over $9,000. Chances are you are one of the people that should read about info on credit card debt.
How to Get into Debt
Getting into debt is a lot easier than most people realize. That's a pretty silly statement isn't it? It would be except it is so true. I've been there myself. So how does somebody get into credit card debt without their realizing it at the time? They most likely make a lot of small purchases which add up over time. While eating out at McDonald's or seeing a movie at the theater doesn't seem like much at the time, continual small purchases do add up. A $5 purchase once a day, like that mocha latte you love so much, adds up to $150 a month. Therefore, try paying small purchases with cash or a debit card as opposed to a credit card. Or cut out the latte a few times a week.
I'm sure you know enough about getting in to debt. What should you do to get out of debt? Don't ignore the bills! If you do, your credit rating will suffer, making loans and other lines of credit harder to acquire over time. When you get bills, pay them on time. This will help minimize the interest that you accumulate from credit companies. Interest doesn't go down on its own. When many people ignore it, it grows to unmanageable proportions. A $5,000 balance can grow to $15,000. Pay your bills.
Are you in over your head? For more info on credit card debt, you can turn to credit counseling companies to give you an idea of how long it would take to pay off a particular balance with a particular interest rate. Better yet, stop making the minimum payments. By paying more than the minimum payment, you can easily shave 50% of the interest payments off. This is just a basic amount of info on credit card debt. Don't let it ruin your life. For more information please visit Reduce Credit Card Debt.
Getting Your First Credit Card
Getting Your First Credit Card
by financeglobe
Getting your first credit card is a major stepping stone to financial independence. It's nice to be able to cover surprise expenses or emergencies without having to borrow money from relatives. You will have the freedom to make purchases based on an anticipated paycheck. Even if you're smart enough to only buy things when you have the cash, it's important to establish your credit history now. After showing a history of responsible credit card use, you can qualify for better credit cards that offer better rates, perks, and rewards. One day in the future you may want to own a home, or buy a nicer car. Using your credit card responsibly will improve your credit history, so that you can eventually qualify for the best terms possible on home mortgages or car loans.
A credit card will allow you to make hotel reservations, rent a car, and make purchases online or by phone. A credit card offers the convenience of pay-at-the-pump at gas stations. You can go out for dinner or a day of shopping without needing to make sure you have enough cash on hand. A credit card is a wonderfully convenient way to pay at nearly any merchant, as long as you are in control of your credit card use.
If used properly, your first credit card can help you build your credit, keep track of your spending, and develop a budget. It's amazing how we lose track of spending when we pay for everything in cash everyday; when you see it all in black and white on a monthly credit card statement, you may gain some insight on where your money really goes. When you use your credit card, be sure that you are only using it for the convenience of replacing cash that you already have in the bank, or will have by the time the credit card bill arrives. It's very important to develop good credit habits now; if you can use one credit card responsibly, you'll be more likely to be in control of your finances when your credit is better established and you have more credit cards at your disposal.
If used carelessly, a credit card can be the first bad habit that will lead to a mountain of debt. The problem many people have with credit cards is that they spend without making sure they are able to pay their balance in full each month. They figure they'll pay it off later, since the minimum monthly payment is so low. What these people aren't thinking about is that they will grow accustomed to the overspending that a credit card allows, and it's a habit that's hard to break once you've become used to it. They look at a credit limit as extra money, instead of the debt that it really is. Interest charges accumulate if the debt isn't paid off every month, and a credit card can quickly become a major expense rather than a valuable money management tool.
If you are in the market for your first credit card, then you probably don't have an established credit history. You will be more limited in your choices of credit cards, but many card issuers offer credit cards for people with limited or poor credit. Since you have not yet had the opportunity to prove your credit-worthiness, it is a simple fact that you will not be offered the best rates and deals that are reserved for people with a proven credit record. Most credit cards for people with limited credit histories do not offer rewards of any kind. You'll most likely be required to pay an annual fee, and the interest rate is probably going to be on the high side.
Secured credit cards are a popular way for people to establish or rebuild their credit. You are basically paying a security deposit, so that in case the debt is not repaid, the card issuer will get their money back. This really isn't as bad as it sounds. Your money will most likely be put into an interest earning account, like a CD, and is just another place you can keep some savings. After you've proven yourself with the credit card issuer, maybe after a year or so of responsible credit card use, they will allow you to withdraw your deposit. Or, you could just leave it there to accumulate interest, and consider it your emergency savings.
Be sure that if you go with a secured card, that the issuer will be willing to upgrade it to an unsecured card once you prove yourself to their standards. Be wary of "banks" you've never heard of; I suggest going with a nationally known bank that offers credit cards to people of various credit histories. Then you'll probably be able to upgrade to a better card while keeping the same account number, which is better for your credit score. The security deposit and an annual fee are pretty standard and are to be expected, but don't apply with a credit card issuer who wants to charge you application fees, monthly service fees, or other fees just to open your account.
If you have a good business relationship with a local bank or credit union, they may be more likely to give you an unsecured credit card than an issuer that you have no relationship with. You may be able to get a credit card if you have had a checking account with them for some time and have never bounced any checks. They may qualify you for a credit card if you've had an auto loan and made your payments on time, even if there was a co-signer on the loan. They will probably start you off with a pretty low limit, but it will still help you build your credit history.
If you're in college, you have quite a few choices in credit cards for students. Student credit card issuers are usually more flexible with the applicants, since they understand that most students are young people with limited credit histories and limited income. They know that you are probably still financially dependent on your parents, which means that Mom or Dad will be likely to help out with the bill if needed. They also know that it's easier to mold a young mind, so if they issue you your first credit card, you'll most likely be their customer for years to come. If you are qualified to apply for a student credit card, take advantage of it while you can. It's usually easier for a student to get a credit card than a young, independent adult who pays his own bills on limited income.
Be sure to read and understand all the terms and conditions of the credit card offer before you apply; unscrupulous credit card issuers often target people with limited or poor credit. There are fees that are necessary and common; late fees, over-limit fees, cash advance fees, bounced check fees are a few of the ways that credit card issuers can recoup the cost of maintaining an account that costs them more or isn't paid as agreed. They're in business; if they didn't charge those fees, everybody would pay late and the credit card business would be in trouble. Some fees are required so they can continue to give their best deals to people who have proven themselves with an excellent credit history. Some fees take advantage of people who are trying to establish their credit, one little mistake and you could be hit with fee after fee. Be aware of any and all fees that could be assessed before you use your card.
by financeglobe
Getting your first credit card is a major stepping stone to financial independence. It's nice to be able to cover surprise expenses or emergencies without having to borrow money from relatives. You will have the freedom to make purchases based on an anticipated paycheck. Even if you're smart enough to only buy things when you have the cash, it's important to establish your credit history now. After showing a history of responsible credit card use, you can qualify for better credit cards that offer better rates, perks, and rewards. One day in the future you may want to own a home, or buy a nicer car. Using your credit card responsibly will improve your credit history, so that you can eventually qualify for the best terms possible on home mortgages or car loans.
A credit card will allow you to make hotel reservations, rent a car, and make purchases online or by phone. A credit card offers the convenience of pay-at-the-pump at gas stations. You can go out for dinner or a day of shopping without needing to make sure you have enough cash on hand. A credit card is a wonderfully convenient way to pay at nearly any merchant, as long as you are in control of your credit card use.
If used properly, your first credit card can help you build your credit, keep track of your spending, and develop a budget. It's amazing how we lose track of spending when we pay for everything in cash everyday; when you see it all in black and white on a monthly credit card statement, you may gain some insight on where your money really goes. When you use your credit card, be sure that you are only using it for the convenience of replacing cash that you already have in the bank, or will have by the time the credit card bill arrives. It's very important to develop good credit habits now; if you can use one credit card responsibly, you'll be more likely to be in control of your finances when your credit is better established and you have more credit cards at your disposal.
If used carelessly, a credit card can be the first bad habit that will lead to a mountain of debt. The problem many people have with credit cards is that they spend without making sure they are able to pay their balance in full each month. They figure they'll pay it off later, since the minimum monthly payment is so low. What these people aren't thinking about is that they will grow accustomed to the overspending that a credit card allows, and it's a habit that's hard to break once you've become used to it. They look at a credit limit as extra money, instead of the debt that it really is. Interest charges accumulate if the debt isn't paid off every month, and a credit card can quickly become a major expense rather than a valuable money management tool.
If you are in the market for your first credit card, then you probably don't have an established credit history. You will be more limited in your choices of credit cards, but many card issuers offer credit cards for people with limited or poor credit. Since you have not yet had the opportunity to prove your credit-worthiness, it is a simple fact that you will not be offered the best rates and deals that are reserved for people with a proven credit record. Most credit cards for people with limited credit histories do not offer rewards of any kind. You'll most likely be required to pay an annual fee, and the interest rate is probably going to be on the high side.
Secured credit cards are a popular way for people to establish or rebuild their credit. You are basically paying a security deposit, so that in case the debt is not repaid, the card issuer will get their money back. This really isn't as bad as it sounds. Your money will most likely be put into an interest earning account, like a CD, and is just another place you can keep some savings. After you've proven yourself with the credit card issuer, maybe after a year or so of responsible credit card use, they will allow you to withdraw your deposit. Or, you could just leave it there to accumulate interest, and consider it your emergency savings.
Be sure that if you go with a secured card, that the issuer will be willing to upgrade it to an unsecured card once you prove yourself to their standards. Be wary of "banks" you've never heard of; I suggest going with a nationally known bank that offers credit cards to people of various credit histories. Then you'll probably be able to upgrade to a better card while keeping the same account number, which is better for your credit score. The security deposit and an annual fee are pretty standard and are to be expected, but don't apply with a credit card issuer who wants to charge you application fees, monthly service fees, or other fees just to open your account.
If you have a good business relationship with a local bank or credit union, they may be more likely to give you an unsecured credit card than an issuer that you have no relationship with. You may be able to get a credit card if you have had a checking account with them for some time and have never bounced any checks. They may qualify you for a credit card if you've had an auto loan and made your payments on time, even if there was a co-signer on the loan. They will probably start you off with a pretty low limit, but it will still help you build your credit history.
If you're in college, you have quite a few choices in credit cards for students. Student credit card issuers are usually more flexible with the applicants, since they understand that most students are young people with limited credit histories and limited income. They know that you are probably still financially dependent on your parents, which means that Mom or Dad will be likely to help out with the bill if needed. They also know that it's easier to mold a young mind, so if they issue you your first credit card, you'll most likely be their customer for years to come. If you are qualified to apply for a student credit card, take advantage of it while you can. It's usually easier for a student to get a credit card than a young, independent adult who pays his own bills on limited income.
Be sure to read and understand all the terms and conditions of the credit card offer before you apply; unscrupulous credit card issuers often target people with limited or poor credit. There are fees that are necessary and common; late fees, over-limit fees, cash advance fees, bounced check fees are a few of the ways that credit card issuers can recoup the cost of maintaining an account that costs them more or isn't paid as agreed. They're in business; if they didn't charge those fees, everybody would pay late and the credit card business would be in trouble. Some fees are required so they can continue to give their best deals to people who have proven themselves with an excellent credit history. Some fees take advantage of people who are trying to establish their credit, one little mistake and you could be hit with fee after fee. Be aware of any and all fees that could be assessed before you use your card.
Saving With An Airline Credit Card
Saving With An Airline Credit Card
by Tom Tessin
So, you've finally sat back and realized that you travel a lot via the big old blue sky. Whether you travel a lot via pleasure or strictly business or maybe even both, maybe you haven't realized that you can truly save money by applying for an airline credit card. The benefits of an airline credit are beyond belief and you would be silly not to apply for one.
An airline credit card works like most credit cards but instead solely focuses on a particular airline or even some focus on travel itself. What you'll find with most travel credit cards is that you won't get as many points or benefits as compared to a credit card that focuses on an airline itself. Most major airline companies carry credit cards in their name such as Northwest airlines, Delta airlines, southwest, and the list continues to go on. If you're loyal to a particular company, it's almost one hundred percent positive that a credit card is in their name.
Airline credit cards are very simple to understand. Every time you spend money with it, you'll simply get a mile. Most credit cards vary but a lot of the times, you will find that one dollar will equal one mile. As you rack up the miles, you will then be able to turn your points in for an airline ticket for a destination of your choice. It will work as if you're buying an airline ticket. You're able to pick the time, date, etc and where you want to go. It really works to the consumers advantages.
The nice thing about these types of credit cards is the perks that they offer in general. Most airliners will offer to give you bonuses when you buy your ticket directly from them with your credit card. This means that sometimes you'll be able to get double, triple, and sometimes even more for your points. This means that there will be more miles in your pocket. This is why it's important that you carry a particular airline credit card because some travel credit cards don't allow you to get bonuses like this which can be a huge downfall.
Whenever you use your airline credit card, you may find that the more you use it, the higher up you move on the airline's status chart. If you haven't been to an airport at all or lately, you'll notice that there are certain statuses like gold, platinum, silver, etc. How do they determine the status you might ask? The answer is quite simple. The more you fly the more perks you get. These perks may include complimentary plane tickets, first class upgrades, and more.
If you haven't looked into a credit card that focuses on your airline, I would highly suggest doing it. A lot of these cards carry no annual fee and a majority of them will give you a free ticket when you sign up. It's like getting something for nothing. It's worth a shot and if you travel a lot and want to save money and get tons of perks, an airline credit card is for you!
by Tom Tessin
So, you've finally sat back and realized that you travel a lot via the big old blue sky. Whether you travel a lot via pleasure or strictly business or maybe even both, maybe you haven't realized that you can truly save money by applying for an airline credit card. The benefits of an airline credit are beyond belief and you would be silly not to apply for one.
An airline credit card works like most credit cards but instead solely focuses on a particular airline or even some focus on travel itself. What you'll find with most travel credit cards is that you won't get as many points or benefits as compared to a credit card that focuses on an airline itself. Most major airline companies carry credit cards in their name such as Northwest airlines, Delta airlines, southwest, and the list continues to go on. If you're loyal to a particular company, it's almost one hundred percent positive that a credit card is in their name.
Airline credit cards are very simple to understand. Every time you spend money with it, you'll simply get a mile. Most credit cards vary but a lot of the times, you will find that one dollar will equal one mile. As you rack up the miles, you will then be able to turn your points in for an airline ticket for a destination of your choice. It will work as if you're buying an airline ticket. You're able to pick the time, date, etc and where you want to go. It really works to the consumers advantages.
The nice thing about these types of credit cards is the perks that they offer in general. Most airliners will offer to give you bonuses when you buy your ticket directly from them with your credit card. This means that sometimes you'll be able to get double, triple, and sometimes even more for your points. This means that there will be more miles in your pocket. This is why it's important that you carry a particular airline credit card because some travel credit cards don't allow you to get bonuses like this which can be a huge downfall.
Whenever you use your airline credit card, you may find that the more you use it, the higher up you move on the airline's status chart. If you haven't been to an airport at all or lately, you'll notice that there are certain statuses like gold, platinum, silver, etc. How do they determine the status you might ask? The answer is quite simple. The more you fly the more perks you get. These perks may include complimentary plane tickets, first class upgrades, and more.
If you haven't looked into a credit card that focuses on your airline, I would highly suggest doing it. A lot of these cards carry no annual fee and a majority of them will give you a free ticket when you sign up. It's like getting something for nothing. It's worth a shot and if you travel a lot and want to save money and get tons of perks, an airline credit card is for you!
Thursday, March 19, 2009
Choosing the Best Credit Card Offers to Meet Your Needs
Choosing the Best Credit Card Offers to Meet Your Needs
by Noreen Ruth
With card offers filling up your mailbox and every retailer ready to have you fill out at application, how do you choose what's best for you? The following explains some of the benefits of the various offers to help you decide.
Standard Credit Cards
These are your run of the mill credit cards--unsecured and available from almost every bank or financial institution. The interest you'll pay to use these cards varies depending on your credit history and how you plan to use it. A low interest introductory period is often offered to catch your eye. This can be an advantage when you make a large purchase because it gives you time to pay it off at a lower rate. Be sure you understand how the rates and fees will increase after the introductory period as stated in the terms and conditions.
Reward Program Cards
There's a reward program for just about every interest, hobby or business--from airlines to telephone companies. The typical reward program pays 1% cash back or equivalent value in a gift card or merchandise. Additional rewards are sometimes given for purchasing from the issuing or select merchants. For example: purchasing from Amazon.com with an Amazon credit card earns double the reward points. Airlines offer points to be redeemed for airline travel. Due to the cost of running such programs an annual fee is often applied to the card. Be sure to read the terms and conditions to reap all the benefits of being enrolled in the program. Reward credit cards are a great deal for those who pay off their balances each month as its like money in the bank.
Balance Transfers
Balance transfers are another gimmick offered for a savings to you, as long as you understand the terms and conditions. If you transfer a balance from a high interest rate credit card to the lower rate card offered, there is usually a transfer fee and sometimes a time limit at the lower interest rate. Be sure that you're really benefiting by adding all the costs up before you make the transfer.
Cards for Consumers with Bad Credit
The easiest credit card to qualify for to help rebuild or repair a damaged credit rating is the secured credit card. Collateral of some sort, whether a security deposit, jewelry, stocks or other items of value, is used as a security deposit against the credit amount being applied for. Typically, the value of the item needs to be of equal or greater value than the amount being borrowed. A low credit line of less that $250 is often available to those who need help rebuilding. These carry additional charges and penalties but can help you overcome the credibility problem you may have with lenders and get your credit back on track.
Prepaid Credit Cards
One last consideration in handling a bad credit situation is the prepaid credit card. These work like a debit card in that the amount available is already secured by having paid upfront. The risk of running up your debt is eliminated by using these cards. However, there are fees that may apply such as startup, over limit, ATM and more. Be sure to read the terms and conditions carefully.
Specialty Credit Cards
Business cards are specialty credit cards offered to meet special credit needs of businesses. Like traditional cards they offer rewards, low intro rates, balance transfers, etc. There are additional benefits that may make these offers attractive: additional cards for employees, business rewards, separate expense reports for business and personal purchases and higher credit limits. Student cards are offered to begin the process of building a healthy credit history. The credit limit is kept low to help the first time card user become accustomed to a monthly pay-off or payment.
by Noreen Ruth
With card offers filling up your mailbox and every retailer ready to have you fill out at application, how do you choose what's best for you? The following explains some of the benefits of the various offers to help you decide.
Standard Credit Cards
These are your run of the mill credit cards--unsecured and available from almost every bank or financial institution. The interest you'll pay to use these cards varies depending on your credit history and how you plan to use it. A low interest introductory period is often offered to catch your eye. This can be an advantage when you make a large purchase because it gives you time to pay it off at a lower rate. Be sure you understand how the rates and fees will increase after the introductory period as stated in the terms and conditions.
Reward Program Cards
There's a reward program for just about every interest, hobby or business--from airlines to telephone companies. The typical reward program pays 1% cash back or equivalent value in a gift card or merchandise. Additional rewards are sometimes given for purchasing from the issuing or select merchants. For example: purchasing from Amazon.com with an Amazon credit card earns double the reward points. Airlines offer points to be redeemed for airline travel. Due to the cost of running such programs an annual fee is often applied to the card. Be sure to read the terms and conditions to reap all the benefits of being enrolled in the program. Reward credit cards are a great deal for those who pay off their balances each month as its like money in the bank.
Balance Transfers
Balance transfers are another gimmick offered for a savings to you, as long as you understand the terms and conditions. If you transfer a balance from a high interest rate credit card to the lower rate card offered, there is usually a transfer fee and sometimes a time limit at the lower interest rate. Be sure that you're really benefiting by adding all the costs up before you make the transfer.
Cards for Consumers with Bad Credit
The easiest credit card to qualify for to help rebuild or repair a damaged credit rating is the secured credit card. Collateral of some sort, whether a security deposit, jewelry, stocks or other items of value, is used as a security deposit against the credit amount being applied for. Typically, the value of the item needs to be of equal or greater value than the amount being borrowed. A low credit line of less that $250 is often available to those who need help rebuilding. These carry additional charges and penalties but can help you overcome the credibility problem you may have with lenders and get your credit back on track.
Prepaid Credit Cards
One last consideration in handling a bad credit situation is the prepaid credit card. These work like a debit card in that the amount available is already secured by having paid upfront. The risk of running up your debt is eliminated by using these cards. However, there are fees that may apply such as startup, over limit, ATM and more. Be sure to read the terms and conditions carefully.
Specialty Credit Cards
Business cards are specialty credit cards offered to meet special credit needs of businesses. Like traditional cards they offer rewards, low intro rates, balance transfers, etc. There are additional benefits that may make these offers attractive: additional cards for employees, business rewards, separate expense reports for business and personal purchases and higher credit limits. Student cards are offered to begin the process of building a healthy credit history. The credit limit is kept low to help the first time card user become accustomed to a monthly pay-off or payment.
Choosing the Best Credit Card Offers to Meet Your Needs
Choosing the Best Credit Card Offers to Meet Your Needs
by Noreen Ruth
So, you've finally sat back and realized that you travel a lot via the big old blue sky. Whether you travel a lot via pleasure or strictly business or maybe even both, maybe you haven't realized that you can truly save money by applying for an airline credit card. The benefits of an airline credit are beyond belief and you would be silly not to apply for one.
An airline credit card works like most credit cards but instead solely focuses on a particular airline or even some focus on travel itself. What you'll find with most travel credit cards is that you won't get as many points or benefits as compared to a credit card that focuses on an airline itself. Most major airline companies carry credit cards in their name such as Northwest airlines, Delta airlines, southwest, and the list continues to go on. If you're loyal to a particular company, it's almost one hundred percent positive that a credit card is in their name.
Airline credit cards are very simple to understand. Every time you spend money with it, you'll simply get a mile. Most credit cards vary but a lot of the times, you will find that one dollar will equal one mile. As you rack up the miles, you will then be able to turn your points in for an airline ticket for a destination of your choice. It will work as if you're buying an airline ticket. You're able to pick the time, date, etc and where you want to go. It really works to the consumers advantages.
The nice thing about these types of credit cards is the perks that they offer in general. Most airliners will offer to give you bonuses when you buy your ticket directly from them with your credit card. This means that sometimes you'll be able to get double, triple, and sometimes even more for your points. This means that there will be more miles in your pocket. This is why it's important that you carry a particular airline credit card because some travel credit cards don't allow you to get bonuses like this which can be a huge downfall.
Whenever you use your airline credit card, you may find that the more you use it, the higher up you move on the airline's status chart. If you haven't been to an airport at all or lately, you'll notice that there are certain statuses like gold, platinum, silver, etc. How do they determine the status you might ask? The answer is quite simple. The more you fly the more perks you get. These perks may include complimentary plane tickets, first class upgrades, and more.
If you haven't looked into a credit card that focuses on your airline, I would highly suggest doing it. A lot of these cards carry no annual fee and a majority of them will give you a free ticket when you sign up. It's like getting something for nothing. It's worth a shot and if you travel a lot and want to save money and get tons of perks, an airline credit card is for you!
by Noreen Ruth
So, you've finally sat back and realized that you travel a lot via the big old blue sky. Whether you travel a lot via pleasure or strictly business or maybe even both, maybe you haven't realized that you can truly save money by applying for an airline credit card. The benefits of an airline credit are beyond belief and you would be silly not to apply for one.
An airline credit card works like most credit cards but instead solely focuses on a particular airline or even some focus on travel itself. What you'll find with most travel credit cards is that you won't get as many points or benefits as compared to a credit card that focuses on an airline itself. Most major airline companies carry credit cards in their name such as Northwest airlines, Delta airlines, southwest, and the list continues to go on. If you're loyal to a particular company, it's almost one hundred percent positive that a credit card is in their name.
Airline credit cards are very simple to understand. Every time you spend money with it, you'll simply get a mile. Most credit cards vary but a lot of the times, you will find that one dollar will equal one mile. As you rack up the miles, you will then be able to turn your points in for an airline ticket for a destination of your choice. It will work as if you're buying an airline ticket. You're able to pick the time, date, etc and where you want to go. It really works to the consumers advantages.
The nice thing about these types of credit cards is the perks that they offer in general. Most airliners will offer to give you bonuses when you buy your ticket directly from them with your credit card. This means that sometimes you'll be able to get double, triple, and sometimes even more for your points. This means that there will be more miles in your pocket. This is why it's important that you carry a particular airline credit card because some travel credit cards don't allow you to get bonuses like this which can be a huge downfall.
Whenever you use your airline credit card, you may find that the more you use it, the higher up you move on the airline's status chart. If you haven't been to an airport at all or lately, you'll notice that there are certain statuses like gold, platinum, silver, etc. How do they determine the status you might ask? The answer is quite simple. The more you fly the more perks you get. These perks may include complimentary plane tickets, first class upgrades, and more.
If you haven't looked into a credit card that focuses on your airline, I would highly suggest doing it. A lot of these cards carry no annual fee and a majority of them will give you a free ticket when you sign up. It's like getting something for nothing. It's worth a shot and if you travel a lot and want to save money and get tons of perks, an airline credit card is for you!
How To Choose and Use Credit Cards
How To Choose and Use Credit Cards
by sas_upena1
Credit Card Terms
A credit card is a form of borrowing that often involves charges. Credit terms and conditions affect your overall cost. So it's wise to compare terms and fees before you agree to open a credit or charge card account.
The following are some important terms to consider that generally must be disclosed in credit card applications or in solicitations that require no application. You also may want to ask about these terms when you're shopping for a card.
Annual Percentage Rate. The APR is a measure of the cost of credit, expressed as a yearly rate. It also must be disclosed before you become obligated on the account and on your account statements.
The card issuer also must disclose the "periodic rate" - the rate applied to your outstanding balance to figure the finance charge for each billing period.
Some credit card plans allow the issuer to change your APR when interest rates or other economic indicators - called indexes - change. Because the rate change is linked to the index's performance, these plans are called "variable rate" programs. Rate changes raise or lower the finance charge on your account. If you're considering a variable rate card, the issuer must also provide various information that discloses to you:
* that the rate may change; and * how the rate is determined - which index is used and what additional amount, the "margin," is added to determine your new rate.
At the latest, you also must receive information, before you become obligated on the account, about any limitations on how much and how often your rate may change.
Free Period. Also called a "grace period," a free period lets you avoid finance charges by paying your balance in full before the due date. Knowing whether a card gives you a free period is especially important if you plan to pay your account in full each month. Without a free period, the card issuer may impose a finance charge from the date you use your card or from the date each transaction is posted to your account. If your card includes a free period, the issuer must mail your bill at least 14 days before the due date so you'll have enough time to pay.
Annual Fees. Most issuers charge annual membership or participation fees. They often range from $25 to $50, sometimes up to $100; "gold" or "platinum" cards often charge up to $75 and sometimes up to several hundred dollars.
Transaction Fees and Other Charges. A card may include other costs. Some issuers charge a fee if you use the card to get a cash advance, make a late payment, or exceed your credit limit. Some charge a monthly fee whether or not you use the card.
Balance Computation Method for the Finance Charge. If you don't have a free period, or if you expect to pay for purchases over time, it's important to know what method the issuer uses to calculate your finance charge. This can make a big difference in how much of a finance charge you'll pay - even if the APR and your buying patterns remain relatively constant.
Examples of balance computation methods include the following.
Average Daily Balance. This is the most common calculation method. It credits your account from the day payment is received by the issuer. To figure the balance due, the issuer totals the beginning balance for each day in the billing period and subtracts any credits made to your account that day. While new purchases may or may not be added to the balance, depending on your plan, cash advances typically are included. The resulting daily balances are added for the billing cycle. The total is then divided by the number of days in the billing period to get the "average daily balance."
Adjusted Balance. This is usually the most advantageous method for card holders. Your balance is determined by subtracting payments or credits received during the current billing period from the balance at the end of the previous billing period. Purchases made during the billing period aren't included.
This method gives you until the end of the billing cycle to pay a portion of your balance to avoid the interest charges on that amount. Some creditors exclude prior, unpaid finance charges from the previous balance. Previous Balance. This is the amount you owed at the end of the previous billing period. Payments, credits and new purchases during the current billing period are not included. Some creditors also exclude unpaid finance charges.
Two-cycle Balances. Issuers sometimes use various methods to calculate your balance that make use of your last two month's account activity. Read your agreement carefully to find out if your issuer uses this approach and, if so, what specific two-cycle method is used.
If you don't understand how your balance is calculated, ask your card issuer. An explanation must also appear on your billing statements.
Other Costs and Features
Credit terms vary among issuers. When shopping for a card, think about how you plan to use it. If you expect to pay your bills in full each month, the annual fee and other charges may be more important than the periodic rate and the APR, if there is a grace period for purchases. However, if you use the cash advance feature, many cards do not permit a grace period for the amounts due - even if they have a grace period for purchases. So, it may still be wise to consider the APR and balance computation method. Also, if you plan to pay for purchases over time, the APR and the balance computation method are definitely major considerations.
You'll probably also want to consider if the credit limit is high enough, how widely the card is accepted, and the plan's services and features. For example, you may be interested in "affinity cards" - all-purpose credit cards sponsored by professional organizations, college alumni associations and some members of the travel industry. An affinity card issuer often donates a portion of the annual fees or charges to the sponsoring organization, or qualifies you for free travel or other bonuses.
Special Delinquency Rates. Some cards with low rates for on-time payments apply a very high APR if you are late a certain number of times in any specified time period. These rates sometimes exceed 20 percent. Information about delinquency rates should be disclosed to you in credit card applications or in solicitations that do not require an application.
Shopping Tips
Keep these tips in mind when looking for a credit or charge card. * Shop around for the plan that best fits your needs. * Make sure you understand a plan's terms before you accept the card. * Hold on to receipts to reconcile charges when your bill arrives. * Protect your cards and account numbers to prevent unauthorized use. Draw a line through blank spaces on charge slips so the amount can't be changed. Tear up carbons. * Keep a record - in a safe place separate from your cards - of your account numbers, expiration dates and the phone numbers of each issuer to report a loss quickly. * Carry only the cards you think you'll use.
by sas_upena1
Credit Card Terms
A credit card is a form of borrowing that often involves charges. Credit terms and conditions affect your overall cost. So it's wise to compare terms and fees before you agree to open a credit or charge card account.
The following are some important terms to consider that generally must be disclosed in credit card applications or in solicitations that require no application. You also may want to ask about these terms when you're shopping for a card.
Annual Percentage Rate. The APR is a measure of the cost of credit, expressed as a yearly rate. It also must be disclosed before you become obligated on the account and on your account statements.
The card issuer also must disclose the "periodic rate" - the rate applied to your outstanding balance to figure the finance charge for each billing period.
Some credit card plans allow the issuer to change your APR when interest rates or other economic indicators - called indexes - change. Because the rate change is linked to the index's performance, these plans are called "variable rate" programs. Rate changes raise or lower the finance charge on your account. If you're considering a variable rate card, the issuer must also provide various information that discloses to you:
* that the rate may change; and * how the rate is determined - which index is used and what additional amount, the "margin," is added to determine your new rate.
At the latest, you also must receive information, before you become obligated on the account, about any limitations on how much and how often your rate may change.
Free Period. Also called a "grace period," a free period lets you avoid finance charges by paying your balance in full before the due date. Knowing whether a card gives you a free period is especially important if you plan to pay your account in full each month. Without a free period, the card issuer may impose a finance charge from the date you use your card or from the date each transaction is posted to your account. If your card includes a free period, the issuer must mail your bill at least 14 days before the due date so you'll have enough time to pay.
Annual Fees. Most issuers charge annual membership or participation fees. They often range from $25 to $50, sometimes up to $100; "gold" or "platinum" cards often charge up to $75 and sometimes up to several hundred dollars.
Transaction Fees and Other Charges. A card may include other costs. Some issuers charge a fee if you use the card to get a cash advance, make a late payment, or exceed your credit limit. Some charge a monthly fee whether or not you use the card.
Balance Computation Method for the Finance Charge. If you don't have a free period, or if you expect to pay for purchases over time, it's important to know what method the issuer uses to calculate your finance charge. This can make a big difference in how much of a finance charge you'll pay - even if the APR and your buying patterns remain relatively constant.
Examples of balance computation methods include the following.
Average Daily Balance. This is the most common calculation method. It credits your account from the day payment is received by the issuer. To figure the balance due, the issuer totals the beginning balance for each day in the billing period and subtracts any credits made to your account that day. While new purchases may or may not be added to the balance, depending on your plan, cash advances typically are included. The resulting daily balances are added for the billing cycle. The total is then divided by the number of days in the billing period to get the "average daily balance."
Adjusted Balance. This is usually the most advantageous method for card holders. Your balance is determined by subtracting payments or credits received during the current billing period from the balance at the end of the previous billing period. Purchases made during the billing period aren't included.
This method gives you until the end of the billing cycle to pay a portion of your balance to avoid the interest charges on that amount. Some creditors exclude prior, unpaid finance charges from the previous balance. Previous Balance. This is the amount you owed at the end of the previous billing period. Payments, credits and new purchases during the current billing period are not included. Some creditors also exclude unpaid finance charges.
Two-cycle Balances. Issuers sometimes use various methods to calculate your balance that make use of your last two month's account activity. Read your agreement carefully to find out if your issuer uses this approach and, if so, what specific two-cycle method is used.
If you don't understand how your balance is calculated, ask your card issuer. An explanation must also appear on your billing statements.
Other Costs and Features
Credit terms vary among issuers. When shopping for a card, think about how you plan to use it. If you expect to pay your bills in full each month, the annual fee and other charges may be more important than the periodic rate and the APR, if there is a grace period for purchases. However, if you use the cash advance feature, many cards do not permit a grace period for the amounts due - even if they have a grace period for purchases. So, it may still be wise to consider the APR and balance computation method. Also, if you plan to pay for purchases over time, the APR and the balance computation method are definitely major considerations.
You'll probably also want to consider if the credit limit is high enough, how widely the card is accepted, and the plan's services and features. For example, you may be interested in "affinity cards" - all-purpose credit cards sponsored by professional organizations, college alumni associations and some members of the travel industry. An affinity card issuer often donates a portion of the annual fees or charges to the sponsoring organization, or qualifies you for free travel or other bonuses.
Special Delinquency Rates. Some cards with low rates for on-time payments apply a very high APR if you are late a certain number of times in any specified time period. These rates sometimes exceed 20 percent. Information about delinquency rates should be disclosed to you in credit card applications or in solicitations that do not require an application.
Shopping Tips
Keep these tips in mind when looking for a credit or charge card. * Shop around for the plan that best fits your needs. * Make sure you understand a plan's terms before you accept the card. * Hold on to receipts to reconcile charges when your bill arrives. * Protect your cards and account numbers to prevent unauthorized use. Draw a line through blank spaces on charge slips so the amount can't be changed. Tear up carbons. * Keep a record - in a safe place separate from your cards - of your account numbers, expiration dates and the phone numbers of each issuer to report a loss quickly. * Carry only the cards you think you'll use.
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