Credit Cards Online Information

To damage your credit is just too easy, some people don't have any idea of the implications involved in credit and how it works. When you apply for any type of financial product on a large scale then you will most likely be on credit for that product whether it be a mortgage or loan. The problem is that even the smallest things can damage your credit to extreme lengths, from late payments to missed payments and defaults, even arrears. So what do we do if our credit is so bad that getting credit is a very hard job, as well as being far more expensive? lets take a look at some options.

(1) Pay off outstanding debts

Paying off any outstanding debts will automatically aid towards the improvement of your credit, as long as the debt has been paid, even if late, you will find an improvement in your credit, but remember you may have to notify the credit agency involved that the debt has been settled.

(2) Make payment arrangements

Instead of leaving those debts in the closet why not make payment arrangements with the loan sources, even if its a small sum each week it helps keep your payment record on track aswell as preventing further late payment charges and or court action.

(3) Do not apply for any further credit

Applying for further credit will only leave your credit file in more tatters, borrowing lumps of money to pay of other debt will only dig you deeper and deeper into debt. The best thing you can do is avoid applying for further credit, every application you make that fails will leave a footprint on your credit file, this footprint will show other lenders where and why you were refused.

# posted by Medical Information : 4:36 AM  0 Comments

Hunting for low APR credit cards has become easier with the advent of the Internet where you can draw an easy comparison (from the various options available to you at the click of a mouse) as to which low APR credit card will be the best for your needs. The article below provides the complete informational lowdown on low APR credit cards.

Low APR credit cards charge you an interest rate even lower than the standard APR. The lower the interest rate or APR, the cheaper the card is to carry and the more money you'll save on it. So if you carry a large monthly card balance, a low APR credit card could be very beneficial for you and in some cases where low rate credit cards have offers, they can also help cardholders like you save significant dollars over time. What is an APR anyway? Well, let’s discuss…

Rationale of Low APR Credit Cards

The Annual Percentage Rate (APR) is the cost of credit; it is the amount of interest rate that is chargeable to any outstanding balance on a credit card. If you don’t make the full payment within the grace period certified by the credit cards company, the company has the right to charge you a fee for that service, an interest rate fee known as the APR. But for a credit card to be considered cheap for a consumer, it should have a low APR.

With a low APR credit card, comes an agenda in fine print. Lesser mortals like you and I fail to recognize the same and read it to our advantage. Here’s what the hidden agenda might state:

1) Annual Fee: Many a low APR credit card might offer you a low interest rate or APR but require you to pay a significant annual fee. If the effective interest rate (after counting the annual fee) is indeed higher than the actual rate, then this credit card is obviously only cloaked as a low APR credit card.

2) Low Introductory Rate: Credit card companies know that low introductory rates are a great promotional incentive. So when suddenly, the initial period expires, and your monthly minimum payments mount dramatically, you know something definitely smells fishy. Check it prior to applying before you fall prey to this credit card company trick.

3) High Balance Transfer Fees: Another trick in the trade is that some amongst the low APR credit card fraternity offer low balance transfer rates that come with significant fees. These balance transfer fees are always mentioned in the fine print or the terms and conditions but are rarely spoken loudly about in the promotional language of the card.

Moral of the Story: Read and re-read the fine print and all of the terms and conditions associated with any low APR credit card before you apply.

Follow these simple steps when shopping for low rate credit cards:

1) Call the institutions in which you already have bank account or credit card account. Discuss with them the possibility of converting your existing account to one with a lower APR than you currently have.

2) If your existing credit card company cannot indulge this special request of yours, seek a company that will.

3) Get in touch with the companies where you are interested in applying for low rate credit cards.

4) After selecting the best card, fill out the application and return as per the instructions via mail or online. Make a call to the credit card issuing company if you have not heard from them in the subsequent 10 to 15 business days.

5) You reserve the right to obtain an explanation if the credit card company has turned down your application. The denial letter must explain how you can obtain your credit report to investigate the application denial.

More Tips On Low Rate Credit Cards

One of the strategies that some people utilize to get the most out of their low rate credit cards is to keep rolling over credit card balances to different cards with 0% introductory APR offers until successfully paying down the card balance. But beware of this particular strategy. Make no bones about it though; this strategy takes time and discipline and a high degree of diligence and meticulousness in keeping exact records.

# posted by Medical Information : 4:36 AM  0 Comments

Hunting for low APR credit cards has become easier with the advent of the Internet where you can draw an easy comparison (from the various options available to you at the click of a mouse) as to which low APR credit card will be the best for your needs. The article below provides the complete informational lowdown on low APR credit cards.

Low APR credit cards charge you an interest rate even lower than the standard APR. The lower the interest rate or APR, the cheaper the card is to carry and the more money you'll save on it. So if you carry a large monthly card balance, a low APR credit card could be very beneficial for you and in some cases where low rate credit cards have offers, they can also help cardholders like you save significant dollars over time. What is an APR anyway? Well, let’s discuss…

Rationale of Low APR Credit Cards

The Annual Percentage Rate (APR) is the cost of credit; it is the amount of interest rate that is chargeable to any outstanding balance on a credit card. If you don’t make the full payment within the grace period certified by the credit cards company, the company has the right to charge you a fee for that service, an interest rate fee known as the APR. But for a credit card to be considered cheap for a consumer, it should have a low APR.

With a low APR credit card, comes an agenda in fine print. Lesser mortals like you and I fail to recognize the same and read it to our advantage. Here’s what the hidden agenda might state:

1) Annual Fee: Many a low APR credit card might offer you a low interest rate or APR but require you to pay a significant annual fee. If the effective interest rate (after counting the annual fee) is indeed higher than the actual rate, then this credit card is obviously only cloaked as a low APR credit card.

2) Low Introductory Rate: Credit card companies know that low introductory rates are a great promotional incentive. So when suddenly, the initial period expires, and your monthly minimum payments mount dramatically, you know something definitely smells fishy. Check it prior to applying before you fall prey to this credit card company trick.

3) High Balance Transfer Fees: Another trick in the trade is that some amongst the low APR credit card fraternity offer low balance transfer rates that come with significant fees. These balance transfer fees are always mentioned in the fine print or the terms and conditions but are rarely spoken loudly about in the promotional language of the card.

Moral of the Story: Read and re-read the fine print and all of the terms and conditions associated with any low APR credit card before you apply.

Follow these simple steps when shopping for low rate credit cards:

1) Call the institutions in which you already have bank account or credit card account. Discuss with them the possibility of converting your existing account to one with a lower APR than you currently have.

2) If your existing credit card company cannot indulge this special request of yours, seek a company that will.

3) Get in touch with the companies where you are interested in applying for low rate credit cards.

4) After selecting the best card, fill out the application and return as per the instructions via mail or online. Make a call to the credit card issuing company if you have not heard from them in the subsequent 10 to 15 business days.

5) You reserve the right to obtain an explanation if the credit card company has turned down your application. The denial letter must explain how you can obtain your credit report to investigate the application denial.

More Tips On Low Rate Credit Cards

One of the strategies that some people utilize to get the most out of their low rate credit cards is to keep rolling over credit card balances to different cards with 0% introductory APR offers until successfully paying down the card balance. But beware of this particular strategy. Make no bones about it though; this strategy takes time and discipline and a high degree of diligence and meticulousness in keeping exact records.

# posted by Medical Information : 2:55 AM  0 Comments

With rights come responsibilities. And this rule applies to college student credit cards as well. These small pieces of plastic look innocent enough but come with their share of pitfalls. College days are colored with long hours of studying and longer hours partying with friends and classmates. And, if you are not careful, college days will also be marred with credit card bills that carry the threat of thousands of dollars of debilitating debt that will stay with you for some time to come!

This bleak picture should by no means prevent college students from using credit cards; it should only help students to avoid misusing them. If you know how to keep the key rules in mind and keep them in control while planning your purchases, you can master the art of handling credit cards and be able to use them effectively and to your best possible advantage.

College Credit Cards: The Painless Plan

- Plan a budget: Firstly, figure out your weekly and monthly expenses. These are usually food, books, and transportation expenses. College student credit cards, like traditional cards, provide monthly billing statements that should help in determining your overall budget.

- Stick to the budget carefully: Plan to use your credit card to meet just these key expenses. Remember that the trouble usually starts when you do not meet your monthly payments. This problem can be easily avoided if you plan your credit card expenses well in advance. This means preventing debt from building up and paying your credit card bills on time.

- Use your credit card only for major expenses. College student credit cards should usually not be used for everyday expenses but reserved for the big buys or emergencies only. Use them for long-term purchases such as furniture and books.

- Don’t splurge: If you don’t have money in your wallet to meet miscellaneous expenses, then don’t buy them at all! Buying beer for your friends, purchasing CDs on the Net and buying soda can all add up, even if they seem inexpensive at the time of purchase.

- Don’t let your parents help you: Be responsible and mature enough to control excessive expenses without calling up Mom and Dad to help bail you out. If you are old enough to use a credit card, then you should be wise enough to use them responsibly.

College Student Credit Cards: What is In It for You?

If you think you can handle it, it is time to take a closer look at why you should make the effort to learn how to handle a credit card:

- A credit card can help you make purchases online or over the telephone.

- Credit cards are critical during emergencies.

- They can also help you finance your larger expense items.

- You can build your credit rating with responsible use, which will be helpful later while making business investments, buying your first house, and even when getting your first job.

Get a Head Start

So college student credit cards could be the perfect way to secure your financial future. Please do keep in mind that even in the student market, companies offer differing rates of interest and interest-free periods. So shop for your credit card wisely. Think of this as great practice for the future, when you might be juggling more than one card, student loans, and maybe even a mortgage on your house.

Once you have decided on a specific college credit card, it is important to understand how it works and the benefits you can reap from it. Keep a close watch on your bills, and figure out ways of paying the monthly bills. Watch out for better offers as well, because you don’t want to be stuck paying higher interest rates then you need to.

# posted by Medical Information : 2:55 AM  0 Comments

College student credit cards have replaced student loans as a freshman’s first student credit experience. At the sophomore level, out of a sample of 100 students, over 90% were found to be holders of at least one college credit card. The question is why do many students find themselves in a vicious cycle of debt with their college credit cards? Why are so many students astonished with the huge bills they receive each month? Most importantly, must it necessarily always be this way for a college credit card user or is there a simpler way?

There are plenty of statistical indicators to suggest that students run up credit bills regularly yet they do not pay their monthly dues on time. Approximately 21% of college credit card users have balances between $3,000 and $7,000. The number of credit cards in an average student’s possession keeps increasing, indicating that they might be acquiring new cards to pay off balances on old ones. However, this can lead to credit balances increasing even faster, adding more debt in this never-ending downward spiral.

Five Steps to Avoid the College Credit Card Debt Trap

The core reason of this pathetic plight is the absence of a disciplined and planned system of using credit. If you, as a student, wish to optimize the use of your college student credit cards, use the following guidelines to plan credit spending and you will not go wrong:

- Pay up on time. Late fees are the most unnecessary source of debt accumulation. Ensure that you always meet the minimum payment on your bill. Ideally, you should try to pay more than the minimum amount to reduce overall charges.

- Use the 20/10 rule. Be careful that you never, ever borrow more than 20% of your annual net income and never spend more than 10% of your monthly income on your monthly payments. In other words, balance your credit to avoid irregularities in monthly payments.

- Plan your credit expenses. With college credit cards at your disposal, it is easy to give in to the temptation of impulse purchases. This leads to escalating card balances and higher and higher payments over a long period. It is ALWAYS better to plan purchases on your college credit card for so you can ensure you only build up credit balances that you know you can easily pay off. - Avoid taking cash advances. The finance charges for these are generally higher than if you were to make credit purchases.

- Avoid approaching your credit limit. There may be extenuating circumstances that will require you to make unplanned expenses. So overall, if you stay clear of the credit limit by avoiding unnecessary charges, you can have the mental satisfaction of knowing that you can comfortably use the credit when it is really needed.

The Boon or Bane of College Credit Cards

If these guidelines are kept in mind, you will find you can live comfortably with college student credit cards. These tips are especially useful if you see yourself opting for that extra job in order to pay your credit card bills. Your savings are precious so don’t bring yourself to a point where you need them to bail yourself out of your credit-happy ways. A balanced budget is the best way to handle all your expenses. College credit cards are most certainly a boon, and yet they can become a bane if you are not careful.

# posted by Medical Information : 2:53 AM  0 Comments

College student credit cards are intended specifically for students who normally would not qualify for regular credit cards, as they do not have a steady income or a credit history. As a student, it is a good idea to establish a first-rate sound credit history at an early age, which would help you get a regular credit card in the future, regardless of your employment status.

College Credit Cards Versus Generic Credit Cards

In theory, college credit cards are identical to regular credit cards. However, a college credit card is meant for college students who do not have previous credit history. Hence, these cards have more restrictions or conditions than the generic cards. The top three restrictions include:

- Co-signature from the parent or guardian at the time of application
- Lower credit limit (Example: $500 to $1000)
- Higher interest rates than traditional credit cards: Normal interest rates on these cards are 16-18%

Advantages of a College Credit Card

A college credit card has become a necessity for most students. The advantages are many provided you understand how the credit card works and use it with caution. Students, especially in United States, are prolific users of these college credit cards. This is primarily because it gives them great flexibility to manage their credit.

Students can use college student credit cards to pay their tuition fees, to rent a car, or to fill gas. In fact, there are certain college credit cards that offer low interest rates to students who maintain good grades. These cards are also packed with rewards and benefits. These cards help students to learn and manage their finance at a young age.

A college credit card can also be a pre-paid one, with a ceiling on the credit limit. This ensures that the student does not overspend and it also helps parents keep an eye on their children’s spending behavior.

Characteristic Features of College Student Credit Cards:

There are many college credit card options from Citi, Discover, and Chase. Apart from these, there are many pre-paid card options. Most of these student cards have many of similar features including:

- 0% APR for the initial period of usually 6 months on both purchases and balance transfers (typically)
- No annual fee, at least for the first year
- Online account management at no extra cost

While many of the above characteristics are also applicable to many traditional more generic credit cards, there are certain distinctive features that make the college student credit card stand apart including:

- 0% liability for any unauthorized charges on the account
- A good GPA helps earns points for the cards
- Theft and fraud alerts

It is a good thought for students to have their own college student credit card. However, it is important to understand that, at an early age, bad credit could have horrible consequences. Parents can assist their kids in choosing the best college credit card based on their child’s spending behavior and repaying capability. College credit cards promise financial freedom at a young age if they are used judiciously.

# posted by Medical Information : 2:52 AM  0 Comments

Before signing up to work with a consumer credit counseling business you should really be asking yourself a few pertinent questions. This is because the consumer credit counseling business industry is just full of scam artists, identity thieves and incompetent types who will either take your money and run (while ruining your credit rating in the process) or steal your identity after asking for your financial information.

The first thing you should look for is whether or not the consumer credit counseling business is accredited. If it isn't don't bother with it. It should be affiliated with the National Foundation for Credit Counseling or the Association of Independent Consumer Credit Counseling Agencies or you can't trust it.

The second thing you need to not is whether or not it is a business that is regulated in your state or province. If not you need to be more wary about it. To find out all you need to do is make one call to your Better Business Bureau and the other to your state attorney. Ask how many consumer complaints have been leveled against the particular consumer credit counseling business that you are thinking of dealing with. This should clear up any mysteries about the company's reputation fast.

The third thing you need to determine is how fast and how much of your money will be directly paid out to your credits once your loan is consolidated. If the company is vague about this in anyway you can also forget about dealing with them.

Another way to tell if a consumer credit counseling business is legitimate is to see how much they charge. Legitimate credit counselors charge about $50 to help you set up a repayment plan and to explain how you can restructure your own. If you are asked to pay any more you are probably dealing with some kind of rip off artist.

# posted by Medical Information : 2:51 AM  0 Comments

Typically, the life of a student involves a lot of expenses. And if you're attending college away from your family, having a credit card is always handy just in case you need to make emergency purchases. But for those who want to prove their independence, and take care of their own financial problems, the very first card that you may want to find in your wallet is a student credit card.

Before, applying for a credit card with no established good credit history is difficult. That was then, now is very much different. If you are a qualified student from an accredited university, you can avail of student credit cards offered by reputable banks in the state.

Student credit cards are especially designed for students; it is similar to any card, but it has more restrictions compared to non-student credit cards.

Some of these restrictions include:

- almost all student credit card holders are first timers when it comes to having their very own credit card, and in order to limit the bank's risk, these banks limit the credit amount to as low as $500 and to a maximum of $1000

- some issuing banks require a co-sign from parents or guardian

- interest rates charged for student credit cards are quite high since they don't have a proven credit history yet; in case of a loss, the amount is spread over the entire student population

Having a credit card is good, and students who have cards enjoy much of its benefits. But it doesn't end there, the students should also realize that credit cards offer a great value accompanied by a greater responsibility.

While it is most exciting for most students to have a credit card, others may find it scary. This is the initial step to responsible adulthood. At an early age, the student must learn to take care of his/her finances by using the credit card wisely and build a good credit rating.

Nowadays, the credit card choices being offered to students are no longer limited to high APR's, no benefits, and high fees. Issuing banks also offer reward cards to give students the opportunity to make points for cash back, merchandise, entertainment rewards, and airline regular flyer.

Some credit cards offer the students zero percent interest rates for a period of six months and maximum cash back of 5% on eligible gasoline station purchases, grocery stores, and drug stores. These cards usually have no annual fees; and these features are just recently introduced to the market. So the student can expect extraordinary features of the new phase of student credit cards.

Statistics have proven that most student credit cards are kept long after graduation, which provides the bank issuer an enormous customer value.

The students also benefit a lot from student cards. A student's life is accompanied by frequent spending on tuition fees, books, rent, road trips, and food. They will be given an opportunity to build a good credit history.

A student's years in college are a time for growing up, finding ones self, and choosing the right direction. It is therefore critical to build a solid financial record by using your credit card responsibly.

# posted by Medical Information : 2:46 PM  0 Comments

There are different brands of credit cards in the market today. One popular brand is the Visa credit card. However, there are also visa cards that are offered as a debit card, this is a different matter altogether. It is the shortened name of the company VISA or Visa International Service Association based in San Francisco, California. It is a joint economic venture of twenty one thousand financial institutions. They are issuing and marketing Visa products.

The launching of the visa card happened in 1976. It was named after BankAmericacard. The Bank of America is the issuer of BankAmericacard which also have other international names. It was before the Visa brand introduction. In fact, Visa cards also incorporated the motif of the BankAmericacard in their designs. The gold and blue logos of Visa cards represent the golden color of California hills and the blue color of the sky.

The alliance of various banks in Canada such as Canadian Imperial Bank of Commerce, Bank of Nova, Royal Bank of Canada, and Toronto-Dominion Bank issued Visa cards in the name of Chargex. French Visa which is currently issued is still using the BankAmericacard logo. It was called Carte Bleue in France which means blue card. The only issuer of BankAmericacard in United Kingdom was Barclaycard.

There are three types of Visa cards. The debit cards which is paid through a savings or checking accounts. The Credit cards which is paid monthly with appropriate interest's rates. The prepaid cards which is paid through cash accounts and without check writing privileges.

There are two protocols that were developed to standardize consumer services. Visa International Association created the debit and credit protocols basing from the type of Visa cards they marketed.

Visa Credit cards uses credit protocols. The cards can be used at banking centers or POS (point-of-sale terminal) after showing the Visa logo. It contains the signature of the card holder for identification. Credit protocol may be utilized by Visa card holders even if it is being marketed as prepaid cards or debit cards. The reason is the imprinted Visa logo on the card's front surface.

The users are sometimes confused by the word credit and debit. Well, the words do not necessarily depend on what the dictionary said about it. It is because debit card may still be used for credit transactions. In this case, misnomer occurs that credit cards are only used for loans while debit protocols are used for checking accounts only. The banks actually select several backend methods to handle the accounts. They make "debit" as the generic synonym of Plus/interlink, while "credit" as the generic synonym of Visa and other cards having similar systems including American Express, MasterCard, and Discover Card.

The associations include the following rules regarding the development of Visa Credit cards.

- For security purposes upon every transactions. The cardholders are identified through their signatures upon using their Visa credit cards.

- It will explain how a bank denies a transaction and how cooperation takes place in a bank to prevent fraud.

- It will ensure a standard protection from fraud and false identification that are not discriminatory.

The founder of the VISA Company, Dee Hock believed that using the word Visa will be recognized instantly in various languages and countries. Besides, it also denotes universal acceptance. However, the consumers must know the rules to avoid conflicts in end when using their Visa Credit cards.

# posted by Medical Information : 2:51 AM  0 Comments

It is a right that you have to know what different credit agencies know about you. So you might want to know beforehand, what is a good credit score? The number where a credit score can be considered good is 700.

When looking at your credit score you need to look into the factors which determine your credit score. Credit scores can be in the range of 300 to 900 and the higher the number the better the score. Peoples credit is determined by history of late payments, no payments, types of credit accounts, level of debt, length of credit history, and bad credit behavior. So by determining all of these factors you can see the number associated with your credit score. When determining ones credit score things such as race and gender have nothing to do with it. It all depends on your past financial activity. Each major credit bureau has different methods for evaluating ones credit score. Generally the models for credit scoring are pretty well standardized so that a score of 600 is basically the same between different credit agencies.

Finding out your personal credit will then let you answer the question of, what is a good credit score?

It is considered that any credit score of 650 points or higher is a sign of decent credit. Generally individuals who have over 650 points will have a good chance of receiving quality loans at the best interest rates. Even if you have what is considered to be somewhat good credit with a score of under 620-650 points you can still qualify for a loan but creditors will look more closely to your past activity. You still might need to provide additional documentation if you want to receive a loan.

Try to stay on top of credit payments as to not take care of payments mean your credit and credit score will suffer. If you pay on time and do not have any bad credit history than you should stay over 700 which is a good credit score. If you have a low credit score you can improve it by making your payments on time and paying off your debt.

# posted by Medical Information : 2:16 AM  0 Comments

Is your financial reputation tarnished by a bad credit score? Perhaps you need to take a look at the main factors involved when creditors are crunching numbers to determine weather or not they want to lend you money.

Your credit score is a reflection of how responsible you are with your finances. It is a number assigned to you based upon your track record of how well you handle credit responsibilities. Having a bad credit score means that your credit reports have shown some negative credit history activities.

Negative credit activities will lower your overall credit score. If a creditor sees that you have a bad credit score, you will not qualify for the lowest interest rates because you are looked upon as a high risk. If you have a really low or bad credit score, you may not qualify for the loan you were hoping to qualify for at all.

Credit scores range from 300 to 850, the closer you’re score is to 850, the more money you will save. There are predetermined credit score levels consumers must reach in order to qualify for these money saving, low interest rate loans. The higher you can raise your bad credit score, the more money you will be able to put into the bank rather than pay high interest rates.

If you can raise your bad credit score up to at least 760 before applying for that big loan, you will qualify for the absolute best rates possible. This is considered to be an excellent credit rating.

If your credit score is between 660 and 759, you are at the second highest level. You will most likely qualify for a sizeable loan with interest rates about .24% higher than consumers with the best credit rating.

If you can raise your bad credit score up to 580 - 659 you will be in the fair credit rating category. Monthly payments will be about 1.5% higher than the average consumer with the best credit score.

Having a bad credit score below 579 will cost you, it is in the high risk category and you will most likely pay a full 3% more in annual interest rate fees.

But having a bad credit score is not the end of the world. Your credit score is constantly changing based on your current credit activities. If you know exactly what factors are involved when creditors calculate credit scores, you can take the necessary steps to raise your credit score considerably and qualify for the lowest rates possible.

# posted by Medical Information : 2:16 AM  0 Comments

Choosing the right credit card that is most suitable for your needs will take a little work, but it certainly will prove to be worthwhile in the long run. Whether you want it so that you don't have to carry cash with you, or you are a businessperson who is looking to have an accurate record of all business-related expenses, there will usually be one card that is a little more beneficial to your situation than others. Here are some things to look for to help you get that perfect credit card.

Determine Your Primary Use of The Credit Card

Probably the most important question to ask up front is what do you want to use your credit card for most? This should largely determine what kind of card you need to look for. For instance, if you are in business for yourself, or if you travel a lot for your business, then there are a couple of cards that will really help you save some money.

If you fly a lot, then go for a credit card that will give you a lot of air miles up front, and will also give you a lot of options that you can use the points for. It should also have an option of allowing your points to be used for hotel rooms and possibly car rentals.

If you drive a lot, then go for a gas card that gives you rebates on your gasoline, and make sure your points can go toward car rentals, or towards a new car. There are also business credit cards that will not only help you with these things, but will also allow you to use your points toward the purchase of new office equipment and other similar things that every business needs.

On the other hand, if you are a student, or a mother just wanting to use it for more simple expenditures, like gas, food, prescriptions, and some pizza money, then you just want a regular card that will reward you for these type of expenditures. On these items, you can expect to get up to 3% rebate, possibly more on other types of purchases. Many cards may only give you 1% of a rebate, but by looking around, you can get the 3%.

Needs For Debt Consolidation?

If you have found yourself getting in debt pretty deeply from credit cards, then you can use a new credit card to actually help you eliminate some of the debt. Here's how. Get a 0% APR interest credit card that will give you the opportunity to have balances transferred to it - but make sure that there is not any balance transfer fees.

Many credit cards have these fees, but there are just as many that do not have them. Why pay for it when you can get this option for free from someone else? You also want to be sure that the introductory benefits last for at least one year - some only last for three months. Then, if you still have debt on this card, be sure to get yourself another card before the year expires, and give yourself another year of 0% APR interest on it.

Getting The Most Benefits From Your Credit Card

No matter what benefits you have attached to your credit card, you will not enjoy much of them unless you do two things. The first thing that you need to be sure to do is to pay your credit card bills on time so that you do not pay the monthly late fees. Being late even once with some credit card companies is all the excuse they need to charge you the full amount of interest - from that point on. A second thing is to pay off the bill in full each month - in order to avoid the interest charges – after the introductory period expires.

Establish A Good Credit Rating

With something as simple as too much debt owed on a credit card, many people have wiped out the possibility of buying some of the bigger items they may really want - like that nice house that they have dreamed of for so long. The best credit card will also help you to build up, maintain, or repair your credit rating, too - if it is used wisely.

# posted by Medical Information : 2:15 AM  0 Comments

Whether you have a credit card or not, it pays to know the alternatives to them. If you have a card, you might have heard the term charge card before. However, many people don’t really know the difference between a charge card and a credit card, and what the benefits and drawbacks of a charge card are. If you want to know more about charge cards then here are some useful tips to get you started.

What is a charge card?

A charge card is a plastic card much like a credit card, in that you can pay for goods and withdraw money using the card. However, unlike credit cards, the balance of a charge card has to be settled in full each month. The most common examples of charge cards are American Express and Diners Club cards, as well as some gold cards.

Paying the balance in full

The main feature of a charge card is that you have to pay the balance off in full each month. If you currently have a credit card and pay your balance off each month, then having a charge card would be very similar to this. Settling the balance each month means that you can budget an exact amount that you can afford to spend. However, you must remember that if you cannot pay off the balance then the penalty interest will be much higher than a normal credit card.

No limits

Another feature of charge cards is that there are no real pre-set spending limits on the card, meaning in theory you can spend what you want on it. This is brilliant if you can afford to pay off large amounts each month, but can be disastrous if you are not disciplined. You could easily run up very large debts that you have no means of paying off at the end of the month. However, having no limit is useful in an emergency because it gives you more flexibility.

Benefits

Although charge card bills need to be settled each month, many people get charge cards because of the excellent benefits that they offer their customers. Although benefits differ from card to card, privileges can include free travel insurance, as well as access to business lounges in airports. Charge cards are a good tool for people who travel around a lot and want to be comfortable wherever they go.

Not always accepted

One of the main disadvantages of charge cards is that they are not as widely accepted as Visa or MasterCard credit cards. This is because charge card issuers charge a higher percentage to businesses, meaning that a number of them are unwilling to allow purchases with these cards.

Who should get charge cards?

Getting a charge card is really a personal choice, although people who find it hard to budget should not get a charge card. However, if you can afford to pay off the balance in full each month and want to have a card that gives you a large number of benefits, then a charge card might be for you.

# posted by Medical Information : 1:14 PM  0 Comments