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.
วันพุธที่ 30 มกราคม พ.ศ. 2551
วันจันทร์ที่ 28 มกราคม พ.ศ. 2551
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.
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.
วันเสาร์ที่ 26 มกราคม พ.ศ. 2551
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!
วันศุกร์ที่ 25 มกราคม พ.ศ. 2551
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.
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.
วันพฤหัสบดีที่ 24 มกราคม พ.ศ. 2551
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.
วันจันทร์ที่ 21 มกราคม พ.ศ. 2551
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.
วันอาทิตย์ที่ 20 มกราคม พ.ศ. 2551
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!
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.
วันศุกร์ที่ 18 มกราคม พ.ศ. 2551
Start an Ebay Buyer Account Without a Credit Card
Start an Ebay Buyer Account Without a Credit Card
by Lisa Page
Ebay just wants to verify you are who, you say you are. I have even seen ebay lock up someones account, until they show ebay proof of who you are. Fraudulent accounts are everywhere on ebay, so they have to take measures to assure nobody gets ripped off.
If you are in the USA, you need to start an account with an email address you pay for. Your ISP email address should be used when you sign up for an ebay buyer account. Don't use free email addresses such as yahoo, msn, hotmail, google etc. If you open a buyer account with a free email address, ebay will make you enter a credit card for verification purposes. So, don't use a free email address when you sign up for a buyer account and ebay will never ask for a credit card number. Use your ISP email address when you sign up.
If you are outside the USA, give your correct phone number and ebay will call you with a pin number to verify you are who you say you are. Enter the pin number into your ebay account and you will be automatically verified for a buyer account. You won't have to enter a credit card number if you give your correct phone number for verification purposes.
It's as easy as that. Both of these methods work for everyone around the world. Now you know how to make a buyer account without using a credit card. Ebay has to ask for some kind of identity verification. Thousands of people sign up for ebay everyday just to rip people off. One fraudulent ebay account is opened every minute on average. So don't blame ebay for taking these measured steps. They are only trying to protect your identity. In today's age of identity theft, be thankful that someone is trying to help you.
Remember to be careful. Ebay will never ask for your personal information through an email. They will never ask you to sign in to your account directly from an email. Don't be fooled by the fake ebay scam and phishing emails. Protect your identity at all costs.
by Lisa Page
Ebay just wants to verify you are who, you say you are. I have even seen ebay lock up someones account, until they show ebay proof of who you are. Fraudulent accounts are everywhere on ebay, so they have to take measures to assure nobody gets ripped off.
If you are in the USA, you need to start an account with an email address you pay for. Your ISP email address should be used when you sign up for an ebay buyer account. Don't use free email addresses such as yahoo, msn, hotmail, google etc. If you open a buyer account with a free email address, ebay will make you enter a credit card for verification purposes. So, don't use a free email address when you sign up for a buyer account and ebay will never ask for a credit card number. Use your ISP email address when you sign up.
If you are outside the USA, give your correct phone number and ebay will call you with a pin number to verify you are who you say you are. Enter the pin number into your ebay account and you will be automatically verified for a buyer account. You won't have to enter a credit card number if you give your correct phone number for verification purposes.
It's as easy as that. Both of these methods work for everyone around the world. Now you know how to make a buyer account without using a credit card. Ebay has to ask for some kind of identity verification. Thousands of people sign up for ebay everyday just to rip people off. One fraudulent ebay account is opened every minute on average. So don't blame ebay for taking these measured steps. They are only trying to protect your identity. In today's age of identity theft, be thankful that someone is trying to help you.
Remember to be careful. Ebay will never ask for your personal information through an email. They will never ask you to sign in to your account directly from an email. Don't be fooled by the fake ebay scam and phishing emails. Protect your identity at all costs.
วันพฤหัสบดีที่ 17 มกราคม พ.ศ. 2551
Understanding Prepaid Credit Cards
Understanding Prepaid Credit Cards
by Tina Porter
If your credit is poor or severely damaged then you are fully aware of how difficult it can be to obtain a credit card, even one that is secured. You also know that in this day and age it is a necessity to have one. Do not worry. There is a solution to this problem.
Prepaid credit cards can give you the spending freedom that you need without being bound by any type of contract. They are easy to set up and use. All you need to do is open and deposit money into an account with a company that offers them. You control what the limit is because you are the one supplying the funds.The amount you deposit is the amount you have available. You do not have to worry about receiving a monthly bill because you do not owe any money. You will not be charged interest or finance fees because you are not borrowing any money. There is no chance of you ever being late with a payment or going over the limit. Once the balance on your card reaches zero you will no longer be able to use it until you deposit more money into your account, which you do at your own convenience.
It is important to note that these cards also have several limitations. Technically, they are the same as debit cards with the exception that they are not tied to your personal checking or savings account. Your payment history is not monitored so your credit rating will never be affected by them. Also, many companies will charge you a fee to open or deposit money into a prepaid account with them. This fee is usually around $5 or $10. It would be cheaper to open a no cost checking or savings account that automatically comes with a free debit card. Finally, you may find that you are not able to use a prepaid credit card for reoccurring charges, such as a phone bill, Internet subscription, or cable bill. Many companies refuse to accept them for these types of transactions because there is always the chance that the money won't be there when it is time to withdraw it.
A Prepaid credit card works exactly like a normal credit card without all of the hassle. You have total control over every aspect of it, including the limit and availability of funds. While it will not eliminate the damage that is already done to your personal record, it will give you the freedom to purchase those items that you might not be able to buy with cash.
by Tina Porter
If your credit is poor or severely damaged then you are fully aware of how difficult it can be to obtain a credit card, even one that is secured. You also know that in this day and age it is a necessity to have one. Do not worry. There is a solution to this problem.
Prepaid credit cards can give you the spending freedom that you need without being bound by any type of contract. They are easy to set up and use. All you need to do is open and deposit money into an account with a company that offers them. You control what the limit is because you are the one supplying the funds.The amount you deposit is the amount you have available. You do not have to worry about receiving a monthly bill because you do not owe any money. You will not be charged interest or finance fees because you are not borrowing any money. There is no chance of you ever being late with a payment or going over the limit. Once the balance on your card reaches zero you will no longer be able to use it until you deposit more money into your account, which you do at your own convenience.
It is important to note that these cards also have several limitations. Technically, they are the same as debit cards with the exception that they are not tied to your personal checking or savings account. Your payment history is not monitored so your credit rating will never be affected by them. Also, many companies will charge you a fee to open or deposit money into a prepaid account with them. This fee is usually around $5 or $10. It would be cheaper to open a no cost checking or savings account that automatically comes with a free debit card. Finally, you may find that you are not able to use a prepaid credit card for reoccurring charges, such as a phone bill, Internet subscription, or cable bill. Many companies refuse to accept them for these types of transactions because there is always the chance that the money won't be there when it is time to withdraw it.
A Prepaid credit card works exactly like a normal credit card without all of the hassle. You have total control over every aspect of it, including the limit and availability of funds. While it will not eliminate the damage that is already done to your personal record, it will give you the freedom to purchase those items that you might not be able to buy with cash.
Credit Cards And Your Happy Life
Credit Cards And Your Happy Life
by Ajeet Khurana
Credits Cards have greatly changed the way that we all do business. Shopping both online and offline has become exponentially easier through the intelligent use of credit cards. This only works under the right circumstances though, since reckless credit card use can easily ring up quite a debt that may be very difficult to pay back.
The best aspect of credit cards is obviously the way that they can make your life easier. Travel has been made much easier through the development of the credit card as a part of modern life. It doesn't matter if you're going to Melbourne or London. Any trip near or far will be easier if you have a good credit card at your disposal. Do you really want to carry all of your vacation money in cash or annoying traveler's checks? You want a credit card.
Even daily business will be easier through credit cards. You can just use your credit card as a type of smart debit account. You can easily charge your daily purchases or take advantage of that big sale and then just pay off most or all of the debt at the end of the month. You'll ultimately have the best of both worlds. Shopping will be easier, you will still get everything that you want, and if done correctly, you won't build up any significant amount of credit card debt.
Shopping online is only possible through a good credit card account. There are going to be a lot of times when you aren't going to want to leave the house. In times of swelteringly hot temperatures or stunning gas prices, you would greatly benefit from being able to buy a new book or a DVD on your card. Then, you'll just have a few days to wait until it is in your hands and ready to go.
Using a credit card properly also requires a whole lot of common sense. It may seem like you won't have any problems with your credit card when you first get it, but the debt can add up very quickly. The idea of the seemingly limitless pit of credit available to you may be a little bit too convenient at times. You have to remember that building up a debt to take advantage of a sale is not always a good idea.
If you can't take care of it quickly, the interest acquired will easily make the savings from the sale worthless. Add to that the really terrible interest rates that can quickly multiple a small debt into a large one, and you will have a serious problem.
In the end, you just have to really take a look at what you want from your credit card. If you want a good financial state, you should focus on just using it for convenience. It really isn't a good idea to see it as a huge loan, since you could probably get a loan for a cheaper interest rate.
But, if you keep that in mind, you can live in the best of both worlds. You can have the convenience of a credit card with the benefit of not having to build up a large debt.
by Ajeet Khurana
Credits Cards have greatly changed the way that we all do business. Shopping both online and offline has become exponentially easier through the intelligent use of credit cards. This only works under the right circumstances though, since reckless credit card use can easily ring up quite a debt that may be very difficult to pay back.
The best aspect of credit cards is obviously the way that they can make your life easier. Travel has been made much easier through the development of the credit card as a part of modern life. It doesn't matter if you're going to Melbourne or London. Any trip near or far will be easier if you have a good credit card at your disposal. Do you really want to carry all of your vacation money in cash or annoying traveler's checks? You want a credit card.
Even daily business will be easier through credit cards. You can just use your credit card as a type of smart debit account. You can easily charge your daily purchases or take advantage of that big sale and then just pay off most or all of the debt at the end of the month. You'll ultimately have the best of both worlds. Shopping will be easier, you will still get everything that you want, and if done correctly, you won't build up any significant amount of credit card debt.
Shopping online is only possible through a good credit card account. There are going to be a lot of times when you aren't going to want to leave the house. In times of swelteringly hot temperatures or stunning gas prices, you would greatly benefit from being able to buy a new book or a DVD on your card. Then, you'll just have a few days to wait until it is in your hands and ready to go.
Using a credit card properly also requires a whole lot of common sense. It may seem like you won't have any problems with your credit card when you first get it, but the debt can add up very quickly. The idea of the seemingly limitless pit of credit available to you may be a little bit too convenient at times. You have to remember that building up a debt to take advantage of a sale is not always a good idea.
If you can't take care of it quickly, the interest acquired will easily make the savings from the sale worthless. Add to that the really terrible interest rates that can quickly multiple a small debt into a large one, and you will have a serious problem.
In the end, you just have to really take a look at what you want from your credit card. If you want a good financial state, you should focus on just using it for convenience. It really isn't a good idea to see it as a huge loan, since you could probably get a loan for a cheaper interest rate.
But, if you keep that in mind, you can live in the best of both worlds. You can have the convenience of a credit card with the benefit of not having to build up a large debt.
Credit Cards - Avoid Overspending at Christmas
Credit Cards - Avoid Overspending at Christmas
by David Collins
A recent survey has suggested that around half of us will spend more than we mean to over the festive season.
With demand for high-quality technological goods such as the Wii dominating the Christmas sales, for some it could prove to be a very expensive holiday season.
But it's not only presents that can contribute to festive debt, there's the outfit for the office party and the food for Christmas dinner - all of which can put strain on us and our wallets.
Then the New Year arrives, which brings even more worries as we then try and budget to pay off our credit cards and store cards.
However there are a few steps you can take to ensure that your festive spending doesn't go over budget:
Draw up a budget before the holiday season - work out how much ready cash and savings you have available and try and budget to within your cash limit, rather than opting for a credit card or breaking into your overdraft.
Take into account all the factors of Christmas - including clothes, food and decorations - and work out how much you wish to allocate to each area.
Calculating a budget can also help with the shopping process, drawing up a list of gifts for each person and budgeting accordingly could eliminate those long and frustrating shopping trips.
Avoid the lure of store cards this Christmas, the offers may seem tempting at the checkout, but high interest rates will lead to you paying off much more in the New Year.
If you're going to use a credit card for purchases this Christmas, there are now a wide variety of 0% credit cards available, along with some that offer cash back on purchases, which could equate to the cost of a present - depending on how much you choose to spend.
Be careful when shopping online, it may eliminate the long checkout queues, but it can be all too easy to overspend - draw up another budget for online purchases if need be.
With more of us now having access to an internet connection and e-mail address, you can save yourself a little money on cards by sending e-cards to your family and friends. Some of which are animated and can be personalised in order to help bring a little festive humour to inboxes, whilst saving you money on postage.
by David Collins
A recent survey has suggested that around half of us will spend more than we mean to over the festive season.
With demand for high-quality technological goods such as the Wii dominating the Christmas sales, for some it could prove to be a very expensive holiday season.
But it's not only presents that can contribute to festive debt, there's the outfit for the office party and the food for Christmas dinner - all of which can put strain on us and our wallets.
Then the New Year arrives, which brings even more worries as we then try and budget to pay off our credit cards and store cards.
However there are a few steps you can take to ensure that your festive spending doesn't go over budget:
Draw up a budget before the holiday season - work out how much ready cash and savings you have available and try and budget to within your cash limit, rather than opting for a credit card or breaking into your overdraft.
Take into account all the factors of Christmas - including clothes, food and decorations - and work out how much you wish to allocate to each area.
Calculating a budget can also help with the shopping process, drawing up a list of gifts for each person and budgeting accordingly could eliminate those long and frustrating shopping trips.
Avoid the lure of store cards this Christmas, the offers may seem tempting at the checkout, but high interest rates will lead to you paying off much more in the New Year.
If you're going to use a credit card for purchases this Christmas, there are now a wide variety of 0% credit cards available, along with some that offer cash back on purchases, which could equate to the cost of a present - depending on how much you choose to spend.
Be careful when shopping online, it may eliminate the long checkout queues, but it can be all too easy to overspend - draw up another budget for online purchases if need be.
With more of us now having access to an internet connection and e-mail address, you can save yourself a little money on cards by sending e-cards to your family and friends. Some of which are animated and can be personalised in order to help bring a little festive humour to inboxes, whilst saving you money on postage.
วันจันทร์ที่ 14 มกราคม พ.ศ. 2551
Best Credit Card Deals
Best Credit Card Deals
by Mario Churchill
No matter where you search on the Internet today there are several advertisements for the best credit card deals. Some that offer low interest rates while others offer no payments for a year.
With so many credit cards available the best credit card deals are usually the ones that are offering incentives as well such as reward points, or air miles, anything of that nature.
However with the best credit cards available in such abundance it is actually rather hard to choose which one to go with. The best credit card values depend solely on what the credit card company has to offer so basically read the terms and the agreements and you should be able to come up with the best credit card deals.
If you own a company or a small business then obviously the best credit card deals for you would be those referenced for business. And these can be found simply by doing a search on the Internet. A note to the wise however, some of the best credit card deals have a catch so read up on them thoroughly.
Although, some of the best credit card deals actually come to your mailbox, offering different types secured, unsecured, or prepaid. In any case the best credit card deals are out there, you don't even have to look very hard for them.
In fact, another way to find out about the best credit card deals is through your email address, quite often credit card companies will send offers via the email account that you have placed on one advertising site or another.
If you aren't sure which credit card company has the best credit card deals then do a little research on the background of the company, compare different credit cards, believe me they are in abundance and used a lot today.
In all reality, the best credit card deals are those with low interest rates or fixed interest rates, those that offer points or cash back when you use the credit card, or those that are offered with minimal fees and requirements.
Nine times out of ten you will find the best credit card deals on the Internet through a search of some kind, whether you look up the actual name of a credit card provider or simply search unsecured or secured. Whatever your preference may be, the best credit cards will be listed among the results, however as previously stated, compare a few of the results to actually find the best credit card deal that suits your finances and your needs.
In most cases some of the best credit card deals even offer two credit cards one for you and one for you domestic partner, whichever the case may be.
Ultimately, the best credit card deals are out there just waiting for people to sign up for them. After the initial application is done, then if you are approved for whichever type of the best credit card deal you could find, then you should receive your credit card and after activation you will be using the plastic in no time.
by Mario Churchill
No matter where you search on the Internet today there are several advertisements for the best credit card deals. Some that offer low interest rates while others offer no payments for a year.
With so many credit cards available the best credit card deals are usually the ones that are offering incentives as well such as reward points, or air miles, anything of that nature.
However with the best credit cards available in such abundance it is actually rather hard to choose which one to go with. The best credit card values depend solely on what the credit card company has to offer so basically read the terms and the agreements and you should be able to come up with the best credit card deals.
If you own a company or a small business then obviously the best credit card deals for you would be those referenced for business. And these can be found simply by doing a search on the Internet. A note to the wise however, some of the best credit card deals have a catch so read up on them thoroughly.
Although, some of the best credit card deals actually come to your mailbox, offering different types secured, unsecured, or prepaid. In any case the best credit card deals are out there, you don't even have to look very hard for them.
In fact, another way to find out about the best credit card deals is through your email address, quite often credit card companies will send offers via the email account that you have placed on one advertising site or another.
If you aren't sure which credit card company has the best credit card deals then do a little research on the background of the company, compare different credit cards, believe me they are in abundance and used a lot today.
In all reality, the best credit card deals are those with low interest rates or fixed interest rates, those that offer points or cash back when you use the credit card, or those that are offered with minimal fees and requirements.
Nine times out of ten you will find the best credit card deals on the Internet through a search of some kind, whether you look up the actual name of a credit card provider or simply search unsecured or secured. Whatever your preference may be, the best credit cards will be listed among the results, however as previously stated, compare a few of the results to actually find the best credit card deal that suits your finances and your needs.
In most cases some of the best credit card deals even offer two credit cards one for you and one for you domestic partner, whichever the case may be.
Ultimately, the best credit card deals are out there just waiting for people to sign up for them. After the initial application is done, then if you are approved for whichever type of the best credit card deal you could find, then you should receive your credit card and after activation you will be using the plastic in no time.
Shopping Online With Credit Cards And Wholesale Items
Shopping Online With Credit Cards And Wholesale Items
by Victor Epand
Almost all of the online stores that I shop at require a credit card. I don't know of any that doesn't require one. The use of a credit card also helps protect you from any fraud in the case of not receiving what you ordered; shipment is lost during delivery, etc. Most credit card companies will cover this kind of stuff.
Looking partially to shop for things online and partially to sell things. But I guess both would stem from my buying things online, so I'll start there. I have a lot of wealthy friends who love to look for bargains, so I recently decided to try doing some sales. Anyway, I have looked all over the place and have found some interesting deals. Basically want to find a site somewhere that has very good wholesale prices, like maybe something that some type of dealers would use I guess, on a variety of things.
My friends, as well as myself, are interested in buying many different things. They are mostly interested in electronics, video games, sunglasses, and watches. I am interested in those as well as clothes. I want to find these at the best possible wholesale prices so I can order them and then resell them to others. I would not be keeping any inventory. People would just be telling me what they're interested in and I'll try to find a good deal on it, order it, and then mark the price up a bit and sell it to them, so I can make some profit but still give them a good deal. An added bonus would be if there were a phone number I could call to get a price for a specific item, as I am not always able to get to a computer or a catalog.
Generally speaking, the idea of buying things for wholesale, in other words, low, prices and retail them to your friends at street prices is good. You have a demand from your friends and you have the source where to buy the needed items. The problem is to keep the balance between the profits from the trade; sure you want it to be the highest possible, and the risk of loosing money-buying things on the Web at a very low price.
Online price may differ from merchant to merchant as much as. Two or three years ago there was a company that announced to be the first online merchant selling under wholesale price, it used the advertising model of profit. Despite of that, I found some items like cameras, I checked prices and found that they were cheaper at other companies on the web due to running promotion of those items. It is funny that very popular shopping, price comparison, does not detect the lowest price if this price corresponds to running promotion at merchants' site. To minimize the risk, it is very useful to evaluate the merchant where to buy. There are companies that do the job of merchants' ratings very well. If you find the lowest price, you'll be able to assess the merchant, for example, whether its customer service is good enough, to make the final decision.
As to me, I use the golden middle reasonable discounts and low risk. I have chosen about 200 merchants whose solidity I am aware of. You can do the same. Then I traced promotional offers (coupons) for those merchants. My profit was 20-30% with every sale and completely no problems with wrong orders and refurbished items. I found that a lot of purchase through my website is performed by customers ordering 5-10 of the same items at ones. Sure they were of your kind of guys making their own profit. There are a lot of people out there that like to do the same thing and just buy wholesale and sell them. But there are others out there that buy wholesale because they have a big family to feed or they are just on a set beget and that is the only way that they can get what they need for there family if they buy if wholesale. But like I said just go and look around and see what you come up with check out there web site get the name and then go from there.
by Victor Epand
Almost all of the online stores that I shop at require a credit card. I don't know of any that doesn't require one. The use of a credit card also helps protect you from any fraud in the case of not receiving what you ordered; shipment is lost during delivery, etc. Most credit card companies will cover this kind of stuff.
Looking partially to shop for things online and partially to sell things. But I guess both would stem from my buying things online, so I'll start there. I have a lot of wealthy friends who love to look for bargains, so I recently decided to try doing some sales. Anyway, I have looked all over the place and have found some interesting deals. Basically want to find a site somewhere that has very good wholesale prices, like maybe something that some type of dealers would use I guess, on a variety of things.
My friends, as well as myself, are interested in buying many different things. They are mostly interested in electronics, video games, sunglasses, and watches. I am interested in those as well as clothes. I want to find these at the best possible wholesale prices so I can order them and then resell them to others. I would not be keeping any inventory. People would just be telling me what they're interested in and I'll try to find a good deal on it, order it, and then mark the price up a bit and sell it to them, so I can make some profit but still give them a good deal. An added bonus would be if there were a phone number I could call to get a price for a specific item, as I am not always able to get to a computer or a catalog.
Generally speaking, the idea of buying things for wholesale, in other words, low, prices and retail them to your friends at street prices is good. You have a demand from your friends and you have the source where to buy the needed items. The problem is to keep the balance between the profits from the trade; sure you want it to be the highest possible, and the risk of loosing money-buying things on the Web at a very low price.
Online price may differ from merchant to merchant as much as. Two or three years ago there was a company that announced to be the first online merchant selling under wholesale price, it used the advertising model of profit. Despite of that, I found some items like cameras, I checked prices and found that they were cheaper at other companies on the web due to running promotion of those items. It is funny that very popular shopping, price comparison, does not detect the lowest price if this price corresponds to running promotion at merchants' site. To minimize the risk, it is very useful to evaluate the merchant where to buy. There are companies that do the job of merchants' ratings very well. If you find the lowest price, you'll be able to assess the merchant, for example, whether its customer service is good enough, to make the final decision.
As to me, I use the golden middle reasonable discounts and low risk. I have chosen about 200 merchants whose solidity I am aware of. You can do the same. Then I traced promotional offers (coupons) for those merchants. My profit was 20-30% with every sale and completely no problems with wrong orders and refurbished items. I found that a lot of purchase through my website is performed by customers ordering 5-10 of the same items at ones. Sure they were of your kind of guys making their own profit. There are a lot of people out there that like to do the same thing and just buy wholesale and sell them. But there are others out there that buy wholesale because they have a big family to feed or they are just on a set beget and that is the only way that they can get what they need for there family if they buy if wholesale. But like I said just go and look around and see what you come up with check out there web site get the name and then go from there.
Rid Credit Card Debt
Rid Credit Card Debt
by Joe Smith
Tired of having to pay off your credit card every month for purchases you made months or even years ago? Exhausted with paying the bills when your credit balance seems to be at a standstill? Though charging your purchases and shopping spree to your credit card may be fun, the enjoyment that you feel will last only for sometime while the corresponding responsibility and liability on your part will continue to haunt you.
The principal function of a credit card is to make a purchase on credit in the event that you do not have the necessary cash with you. You can likewise use it if you are expecting some money to come your way but you need to make an immediate purpose at the moment. To the wise consumer, credit card should to be used for emergency purposes only. However, the use of the credit card has been subject to abuse like compulsive shopping free or impulse buying. Hence, it is a logical consequence that most people have credit card bills to pay every month.
You can erase your credit card debts and be free from the liability of paying every month. It is only a matter of discipline on your part. Determine your credit card balance and how much you are paying each month. Resist from increasing further your credit balance. There might be a need for you to increase the amount that you pay so that a substantial portion of your debts can be erased. If you do not have the extra money to add to your regular monthly payments, you may consider taking on a second job, the proceeds from which you will pay on your credit card. If you are a multiple credit card holder, it will be advisable to retire the one that charges the highest interest. Pay all your credit cards to avoid being harassed by your creditors. In the end, you will be able to pay off your credit card bills one by one and erase your debts.
by Joe Smith
Tired of having to pay off your credit card every month for purchases you made months or even years ago? Exhausted with paying the bills when your credit balance seems to be at a standstill? Though charging your purchases and shopping spree to your credit card may be fun, the enjoyment that you feel will last only for sometime while the corresponding responsibility and liability on your part will continue to haunt you.
The principal function of a credit card is to make a purchase on credit in the event that you do not have the necessary cash with you. You can likewise use it if you are expecting some money to come your way but you need to make an immediate purpose at the moment. To the wise consumer, credit card should to be used for emergency purposes only. However, the use of the credit card has been subject to abuse like compulsive shopping free or impulse buying. Hence, it is a logical consequence that most people have credit card bills to pay every month.
You can erase your credit card debts and be free from the liability of paying every month. It is only a matter of discipline on your part. Determine your credit card balance and how much you are paying each month. Resist from increasing further your credit balance. There might be a need for you to increase the amount that you pay so that a substantial portion of your debts can be erased. If you do not have the extra money to add to your regular monthly payments, you may consider taking on a second job, the proceeds from which you will pay on your credit card. If you are a multiple credit card holder, it will be advisable to retire the one that charges the highest interest. Pay all your credit cards to avoid being harassed by your creditors. In the end, you will be able to pay off your credit card bills one by one and erase your debts.
วันศุกร์ที่ 11 มกราคม พ.ศ. 2551
Economy, Banking, Credit Cards And Usury
Modern world recognize and use two sciences: mathematic and economy.
Long time ago, Albert Einstein said:
"The hardest thing in the world to understand is the income tax.
" For every action there is an equal but opposite reaction.
Interpretation of Einstein law is very simple:
Unfortunately, one of our two sciences is guilty for the worst crimes ever committed.
In simple terms the new money comes into circulation through the banking system, issued as a debt to the banking system.
This money is created out of thin air and is backed by nothing.
There is a significant difference between a nominal value and printing costs of the money.
Here we are talking about enormous profit, also called seigniorage.
What's worse, with fractional reserve banking like in Euro area, we have the same money in 50 different places at the same time.
In the case of money lending like this one, generated interest on initial deposit becomes unbelievable number.
It's not finished yet: You have to repay public debt, interests, inflation, other hidden taxes, and who knows what else...
Finally, world is full of enemies so you have to fight them before they have a chance to attack you.
It's a war that you're losing for twenty centuries.
What is hidden behind the Central Banks independence and autonomy ?
Privately owned corporations and lost of "democratic countries "monetary sovereignties ?
Some Little-Known Facts
- All revolutions have one common thing: no one changed a monetary system.
- Existence of Bilderberg, Trilateral Commission and similar organizations.
- On June 4, 1963, a virtually unknown Presidential decree, Executive Order 11110, was signed with the authority to basically strip the Federal Reserve Bank of its power to loan money to the United States Federal Government at interest. With the stroke of a pen, President Kennedy declared that the privately owned Federal Reserve Bank would soon be out of business.
- On June 23, 2005, Former IRS CID Special Agent Joseph Banister has been acquitted of tax fraud and conspiracy. The government was unable to prove that US law requires income tax withholding or filing.
- On September 15, 2005, a Justice of the peace in the southern Italian town Lecce has decided that the Italian Central Bank's practice to retain the seignorage (signoraggio) on paper money for its own profit is illegal and that the money should be turned over to its rightful owners - the citizens of Italy.
- Existence of hundreds of trillions invented values of financial derivatives.
Negative Effects Of Credit Card
The magnetic strip was introduced in 1970 and ushered in the information age and the credit card industry boom which has driven this economy now for decades.
Though we don't have a debtor's prison as in the days of Babylonia, nor is usury lawful (though a good argument might be presented that it is from time to time), we do seem to have come full circle.
Remember all those farmers back 3000 years ago who went to prison and could not grow thereby starving there countryman ?
Well, what do you suppose drives our economy ?
It's credit.
And what horrible condition continues to rise in epidemic proportions as a result ?
It's bankruptcy.
Per an article Can You Afford It ?
The national balance on credit cards, auto, and other non-mortgage loans rose to a new record figure in April 2001 at $1.58 trillion.
Delinquent credit card payments (30 days past due) has risen to new high of 5% delinquency.
There is a 17.5% increase in the already staggering number of bankruptcies filed.
The credit card has been the single major pivot in creating a boom in bankruptcies.
Do you suppose it might be possible to have enough consumers declare bankruptcy so that the entire economy might implode upon itself ?
It did with the farmers in early civilizations.
I would say it is very possible when your castle is built of plastic.
Long time ago, Albert Einstein said:
"The hardest thing in the world to understand is the income tax.
" For every action there is an equal but opposite reaction.
Interpretation of Einstein law is very simple:
Unfortunately, one of our two sciences is guilty for the worst crimes ever committed.
In simple terms the new money comes into circulation through the banking system, issued as a debt to the banking system.
This money is created out of thin air and is backed by nothing.
There is a significant difference between a nominal value and printing costs of the money.
Here we are talking about enormous profit, also called seigniorage.
What's worse, with fractional reserve banking like in Euro area, we have the same money in 50 different places at the same time.
In the case of money lending like this one, generated interest on initial deposit becomes unbelievable number.
It's not finished yet: You have to repay public debt, interests, inflation, other hidden taxes, and who knows what else...
Finally, world is full of enemies so you have to fight them before they have a chance to attack you.
It's a war that you're losing for twenty centuries.
What is hidden behind the Central Banks independence and autonomy ?
Privately owned corporations and lost of "democratic countries "monetary sovereignties ?
Some Little-Known Facts
- All revolutions have one common thing: no one changed a monetary system.
- Existence of Bilderberg, Trilateral Commission and similar organizations.
- On June 4, 1963, a virtually unknown Presidential decree, Executive Order 11110, was signed with the authority to basically strip the Federal Reserve Bank of its power to loan money to the United States Federal Government at interest. With the stroke of a pen, President Kennedy declared that the privately owned Federal Reserve Bank would soon be out of business.
- On June 23, 2005, Former IRS CID Special Agent Joseph Banister has been acquitted of tax fraud and conspiracy. The government was unable to prove that US law requires income tax withholding or filing.
- On September 15, 2005, a Justice of the peace in the southern Italian town Lecce has decided that the Italian Central Bank's practice to retain the seignorage (signoraggio) on paper money for its own profit is illegal and that the money should be turned over to its rightful owners - the citizens of Italy.
- Existence of hundreds of trillions invented values of financial derivatives.
Negative Effects Of Credit Card
The magnetic strip was introduced in 1970 and ushered in the information age and the credit card industry boom which has driven this economy now for decades.
Though we don't have a debtor's prison as in the days of Babylonia, nor is usury lawful (though a good argument might be presented that it is from time to time), we do seem to have come full circle.
Remember all those farmers back 3000 years ago who went to prison and could not grow thereby starving there countryman ?
Well, what do you suppose drives our economy ?
It's credit.
And what horrible condition continues to rise in epidemic proportions as a result ?
It's bankruptcy.
Per an article Can You Afford It ?
The national balance on credit cards, auto, and other non-mortgage loans rose to a new record figure in April 2001 at $1.58 trillion.
Delinquent credit card payments (30 days past due) has risen to new high of 5% delinquency.
There is a 17.5% increase in the already staggering number of bankruptcies filed.
The credit card has been the single major pivot in creating a boom in bankruptcies.
Do you suppose it might be possible to have enough consumers declare bankruptcy so that the entire economy might implode upon itself ?
It did with the farmers in early civilizations.
I would say it is very possible when your castle is built of plastic.
Wise Use Of Credit Cards
Wise Use Of Credit Cards
by Joseph Kenny
Using your credit cards wisely might be the most important and beneficial decision you can make towards financial health. The reason for this is simple: high interest rates on credit cards can cost you more than money if you find yourself unable to make your payments on time.
Consider this: For most consumers, home payments (or rent payments), along with automobile payments are usually the two most expensive debts that a consumer carries. These two payments alone can often account for over 30% of a consumer's take home pay per month. When high-interest rate credit cards are added to this, the overall cost per month can easily reach 60% or more of take home pay. That does not leave much for other expenses such as food, clothing, car insurance, personal loans, etc. For many consumers, the payments on their credit cards are the most expensive debt that they carry. In other words, the total amount of money that they have to send in on payments is higher than what they spend on home loan payments or automobile payments.
There are many reasons why credit cards can become a threat to your financial health, but the number one reason is that they are so easy to use. The number of people who use credit cards for small, incidental purchases is staggering. Consumers often forget that if they do not pay off the entire balance owed within the grace period allowed they will be charged interest. Some companies will be fair about this charge, but most will happily charge as much as they can for the credit they are extending to you.
To make matters worse, if you are late on your payments, or if you do not make any payment at all, this can be reflected in your credit score. It does not take very long at all for delinquent payments or non-payments to hit your credit report and once they are on your report they stay there for up to seven years. These marks against your credit will often cause lenders to either deny you future loans or cause them to levy higher interest rates on accounts that you may wish to open. All in all, late payments will cost you money in the future.
The very best way to handle credit cards is to pay off the balances as they occur. This not only makes you look good in your credit report but it also keeps you from having to pay those high interest rates for balances that are carried over. The second thing to do is to avoid using your credit cards unless you honestly need to do so. Instead of paying with your card, pay with cash. This one action can save you more money than you might imagine. Yes, it is easier to pay with the card sometimes, but it is also more costly.
If you feel you are already in trouble, sit down with your statements and make a plan to begin paying them down. Start with the credit cards that have the lowest balances. Once these are paid off, move to the next highest and begin paying these down. It will take patience and sacrifice, but it can be done and soon your credit cards will be under control.
by Joseph Kenny
Using your credit cards wisely might be the most important and beneficial decision you can make towards financial health. The reason for this is simple: high interest rates on credit cards can cost you more than money if you find yourself unable to make your payments on time.
Consider this: For most consumers, home payments (or rent payments), along with automobile payments are usually the two most expensive debts that a consumer carries. These two payments alone can often account for over 30% of a consumer's take home pay per month. When high-interest rate credit cards are added to this, the overall cost per month can easily reach 60% or more of take home pay. That does not leave much for other expenses such as food, clothing, car insurance, personal loans, etc. For many consumers, the payments on their credit cards are the most expensive debt that they carry. In other words, the total amount of money that they have to send in on payments is higher than what they spend on home loan payments or automobile payments.
There are many reasons why credit cards can become a threat to your financial health, but the number one reason is that they are so easy to use. The number of people who use credit cards for small, incidental purchases is staggering. Consumers often forget that if they do not pay off the entire balance owed within the grace period allowed they will be charged interest. Some companies will be fair about this charge, but most will happily charge as much as they can for the credit they are extending to you.
To make matters worse, if you are late on your payments, or if you do not make any payment at all, this can be reflected in your credit score. It does not take very long at all for delinquent payments or non-payments to hit your credit report and once they are on your report they stay there for up to seven years. These marks against your credit will often cause lenders to either deny you future loans or cause them to levy higher interest rates on accounts that you may wish to open. All in all, late payments will cost you money in the future.
The very best way to handle credit cards is to pay off the balances as they occur. This not only makes you look good in your credit report but it also keeps you from having to pay those high interest rates for balances that are carried over. The second thing to do is to avoid using your credit cards unless you honestly need to do so. Instead of paying with your card, pay with cash. This one action can save you more money than you might imagine. Yes, it is easier to pay with the card sometimes, but it is also more costly.
If you feel you are already in trouble, sit down with your statements and make a plan to begin paying them down. Start with the credit cards that have the lowest balances. Once these are paid off, move to the next highest and begin paying these down. It will take patience and sacrifice, but it can be done and soon your credit cards will be under control.
วันพฤหัสบดีที่ 10 มกราคม พ.ศ. 2551
How Shrewd Credit Card Users Shop For Free
How Shrewd Credit Card Users Shop For Free
by Jon Robson
The UK credit card market is ludicrously competitive - sometimes it seems that some of the biggest lenders would even be prepared to offer you their own grandmothers just to get you to sign up. By enticing you in with incredible credit card introductory offers they hope to reap the rewards from your interest payments. However, when used wisely, credit cards - and in particular introductory offers like 0% balance transfers and 0% interest on purchases, as well as retail and travel discounts, could effectively mean that, not only can shop for free, sometimes you can even actively reduce your current spending.
While credit agencies may advise that credit card lending is the most expensive form of debt, crafty consumers who manage their spending on credit cards with care and restraint can use great credit card introductory deals to their advantage. Some even use a technique known as "credit card offsetting" where you use your credit card to buy all the goods you would normally purchase on your debit card and then place the money you have saved in a high interest bank account. However you plan to use your credit card, there are a number of tips and pitfalls to be aware of to get the most for your money.
Firstly, beware of 0% balance transfers! Banks and other lenders have got wise to "credit card tarts" that continually swap between balance transfer offers; some lenders will charge a transfer fee. Others may even refuse your card application if you have taken advantage of their 0% credit card introductory offer in the past. Swapping cards too frequently to take advantage of 0% on balance transfers could even affect your credit rating as lenders are able to assess the number of credit searches against your name.
Many credit card introductory offers also include 0% on any purchases for a limited duration. Barclaycard Premium for example offers 3 months at 0% while others like MBNA Platinum fix the period on a specific date (in their case 0% on purchases until March 2008). However, it's worth finding out if the card you're interested in offers 0% on cash back. If not then you need to be aware that while it's convenient, it's not the same as using a cash point - every time you get cash back on your credit card you are borrowing money and will therefore be liable for interest on the cash. If your card doesn't offer 0% on cash back then it makes far more sense to use your debit card to withdraw cash.
Credit cards can be an extension of your lifestyle. While 0% balance transfers and 0% on purchases are the main incentives for many lenders there are also a huge variety of other credit card introductory offers, often specific to a particular card. Some are designed to appeal to your lifestyle choices - Barclaycard OnePulse, for example, has tied in with the Oyster Travelcard so you only need one card for travel and shopping while the MBNA WWF card makes a contribution to the World Wildlife Fund for every card. Other cards appeal more directly to your pocket offering discounts and special offers at specific retailers - Virigin Credit Card offers discounts at the Virgin Megastore & Virgin Holidays while Egg offers up to 10% at selected retailers. If you already spend a great deal of money at a specific retailer included in a credit card introductory offer then it gives you the opportunity to make potential savings.
Don't forget the APR! Cynical observers might note that credit card introductory offers are simply their to distract consumers from looking too carefully at the amount of interest they will have to pay every month - for most people it should be the primary consideration in how they decide on which credit card to choose. Rates vary but are currently between 14.9% and 16.9% on average - while Capital One are offering 9.9% with their Platinum card. Whatever card you choose there is one single piece of advice that will save you money: pay off your outstanding balance every month. That way you will only ever reap the benefits of credit cards with none of the expensive charges.
by Jon Robson
The UK credit card market is ludicrously competitive - sometimes it seems that some of the biggest lenders would even be prepared to offer you their own grandmothers just to get you to sign up. By enticing you in with incredible credit card introductory offers they hope to reap the rewards from your interest payments. However, when used wisely, credit cards - and in particular introductory offers like 0% balance transfers and 0% interest on purchases, as well as retail and travel discounts, could effectively mean that, not only can shop for free, sometimes you can even actively reduce your current spending.
While credit agencies may advise that credit card lending is the most expensive form of debt, crafty consumers who manage their spending on credit cards with care and restraint can use great credit card introductory deals to their advantage. Some even use a technique known as "credit card offsetting" where you use your credit card to buy all the goods you would normally purchase on your debit card and then place the money you have saved in a high interest bank account. However you plan to use your credit card, there are a number of tips and pitfalls to be aware of to get the most for your money.
Firstly, beware of 0% balance transfers! Banks and other lenders have got wise to "credit card tarts" that continually swap between balance transfer offers; some lenders will charge a transfer fee. Others may even refuse your card application if you have taken advantage of their 0% credit card introductory offer in the past. Swapping cards too frequently to take advantage of 0% on balance transfers could even affect your credit rating as lenders are able to assess the number of credit searches against your name.
Many credit card introductory offers also include 0% on any purchases for a limited duration. Barclaycard Premium for example offers 3 months at 0% while others like MBNA Platinum fix the period on a specific date (in their case 0% on purchases until March 2008). However, it's worth finding out if the card you're interested in offers 0% on cash back. If not then you need to be aware that while it's convenient, it's not the same as using a cash point - every time you get cash back on your credit card you are borrowing money and will therefore be liable for interest on the cash. If your card doesn't offer 0% on cash back then it makes far more sense to use your debit card to withdraw cash.
Credit cards can be an extension of your lifestyle. While 0% balance transfers and 0% on purchases are the main incentives for many lenders there are also a huge variety of other credit card introductory offers, often specific to a particular card. Some are designed to appeal to your lifestyle choices - Barclaycard OnePulse, for example, has tied in with the Oyster Travelcard so you only need one card for travel and shopping while the MBNA WWF card makes a contribution to the World Wildlife Fund for every card. Other cards appeal more directly to your pocket offering discounts and special offers at specific retailers - Virigin Credit Card offers discounts at the Virgin Megastore & Virgin Holidays while Egg offers up to 10% at selected retailers. If you already spend a great deal of money at a specific retailer included in a credit card introductory offer then it gives you the opportunity to make potential savings.
Don't forget the APR! Cynical observers might note that credit card introductory offers are simply their to distract consumers from looking too carefully at the amount of interest they will have to pay every month - for most people it should be the primary consideration in how they decide on which credit card to choose. Rates vary but are currently between 14.9% and 16.9% on average - while Capital One are offering 9.9% with their Platinum card. Whatever card you choose there is one single piece of advice that will save you money: pay off your outstanding balance every month. That way you will only ever reap the benefits of credit cards with none of the expensive charges.
Is It Worth Applying For A Platinum Credit Card?
Is It Worth Applying For A Platinum Credit Card?
by Michael Strauss
Way back in the early days of credit cards, around 50 years or so ago, the proposition they offered was pretty simple: pay by card, and either clear the balance in full each month or pay interest on the debt you accumulate. There would be little or nothing in the way of added benefits or inducements, as the novelty of paying by plastic and getting easy credit was enough to lure in customers. Indeed, it was perfectly normal to charge cardholders an annual fee simply for the privilege of carrying the card.
Over time, as more and more banks and finance providers got in on the credit card act, there was more competition and so extra features became common. One easy way to make a card stand out from the crowd was to label it as a 'Gold' card, implying a level of prestige and even glamour, which would in theory rub off onto the cardholder. Generally these cards would offer some sort of premium service such as free insurance or travel benefits, although often at the cost of a higher annual fee and more stringent approval criteria - good credit was essential, as was usually a higher minimum income.
As gold cards became more and more common, and the features on standard cards began to get more enticing, a new level of prestige was needed, and so the platinum card was introduced into the market. Typically, a holder of a platinum card would have been considered among society's financial elite, and the card accounts would have higher credit limits and access to a greater range of premium features compared to standard or even gold cards.
These days, however, even the most humble of credit cards will probably offer features considered inconceivable a few decades ago. Balance transfers, interest free periods, rewards, cash back, free insurance, telephone help and information lines - all of these can be found in one form or another right across the credit card spectrum. So what reasons remain for choosing a platinum card over another one?
Although some platinum cards can still offer benefits that you wouldn't normally find on a standard card, such as entry into business class lounges at airports for example, it's rare to find a general platinum card that can't be beaten by a more specialized card on a lower rung of the prestige ladder. A proper travel rewards card, for example, will likely still offer the airport lounges feature as a backup to its main travel points program.
The main reason for the existence of platinum cards is still the perception of them as a status symbol. Even this benefit is under threat, with the emergence of 'black' credit cards which are aimed at supplanting platinum cards as the highest status cards on the market.
If you can find a card which suits your needs and offers the features you desire, and it just happens to be a platinum card, then that's not a problem at all. Just don't be fooled by the marketing hype into thinking that a platinum card is necessarily a good deal or of higher status: you should judge a card on its features alone, and not on any pretensions of prestige.
by Michael Strauss
Way back in the early days of credit cards, around 50 years or so ago, the proposition they offered was pretty simple: pay by card, and either clear the balance in full each month or pay interest on the debt you accumulate. There would be little or nothing in the way of added benefits or inducements, as the novelty of paying by plastic and getting easy credit was enough to lure in customers. Indeed, it was perfectly normal to charge cardholders an annual fee simply for the privilege of carrying the card.
Over time, as more and more banks and finance providers got in on the credit card act, there was more competition and so extra features became common. One easy way to make a card stand out from the crowd was to label it as a 'Gold' card, implying a level of prestige and even glamour, which would in theory rub off onto the cardholder. Generally these cards would offer some sort of premium service such as free insurance or travel benefits, although often at the cost of a higher annual fee and more stringent approval criteria - good credit was essential, as was usually a higher minimum income.
As gold cards became more and more common, and the features on standard cards began to get more enticing, a new level of prestige was needed, and so the platinum card was introduced into the market. Typically, a holder of a platinum card would have been considered among society's financial elite, and the card accounts would have higher credit limits and access to a greater range of premium features compared to standard or even gold cards.
These days, however, even the most humble of credit cards will probably offer features considered inconceivable a few decades ago. Balance transfers, interest free periods, rewards, cash back, free insurance, telephone help and information lines - all of these can be found in one form or another right across the credit card spectrum. So what reasons remain for choosing a platinum card over another one?
Although some platinum cards can still offer benefits that you wouldn't normally find on a standard card, such as entry into business class lounges at airports for example, it's rare to find a general platinum card that can't be beaten by a more specialized card on a lower rung of the prestige ladder. A proper travel rewards card, for example, will likely still offer the airport lounges feature as a backup to its main travel points program.
The main reason for the existence of platinum cards is still the perception of them as a status symbol. Even this benefit is under threat, with the emergence of 'black' credit cards which are aimed at supplanting platinum cards as the highest status cards on the market.
If you can find a card which suits your needs and offers the features you desire, and it just happens to be a platinum card, then that's not a problem at all. Just don't be fooled by the marketing hype into thinking that a platinum card is necessarily a good deal or of higher status: you should judge a card on its features alone, and not on any pretensions of prestige.
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