Credit Cards Online Information

Back during the early part of this decade when interest rates were at historically low figures, a whole rash of low and zero percent credit cards were offered by major banks and financial institutions. Indeed, if you wanted to get out from underneath your debt all you had to do was apply for one of these cards, transfer balances from the old card to the new one, and you would save hundreds if not thousands of dollars on interest rate costs. Today, interest rates are the highest they have been in more than five years time. Are low interest rate credit cards a thing of the past? The answer is a resounding no: they are still available; please keep reading to find the credit card venue that is right for you.

Consumers burdened by credit card rates of 15%, 20% or more need not feel trapped. Fortunately, there are plenty of credit card offers out there that are still darn good buys, oftentimes offering a reprieve from high interest rates for as long as 16 months.

What should you look for when selecting a new credit card? Several things, including:

A balance transfer option allowing you to move funds from your current high rate credit card to the new card. This is particularly a good deal if balance transfer fees are waived during the transfer option period.

When funds are transferred to a new card a low introductory interest rate would be extremely helpful. Many cards still offer a 0% interest rate on new transfers: some will even allow you to keep that rate until the transferred funds are paid off. New purchases are assessed the standard rate, but you could conceivably have an interest free walk on old funds for several years.

Many credit card offers waive the annual fee at least for the first year. Shop around and you could find a credit card with a balance transfer deal, low annual APR, and no annual fee. Almost like receiving free money!

In some cases a credit card provider will sweeten the deal by offering rewards with each purchase. These offers can vary tremendously: some offer free airline miles; others offer cash back; some will give you free hotel nights or car rentals; the list and variety is nearly endless. Read the fine print to find the program that works best for you.

In conclusion, low interest rate credit cards are still around. Shop wisely, compare plans, and you could save hundreds of dollars on credit card interest with the right card.

Over the past two years, the Federal Reserve has raised interest rates substantially. Consequently, credit card annual percentage rates have followed suit. Nearly all credit cards tie their interest rates to the prime rate, which has doubled to 8% from 4% during the string of rate hikes that began in 2004. This has led to interest rates on credit cards rising by 30% or more. Since August of 2006, the Federal Reserve has kept interest rates steady, and many economists believe the next move may be a reduction in rates. However, the rate reductions have yet to begin, and credit card interest rates remain relatively high.

For those who carry balances on their credit cards, high interest rates have resulted in higher monthly bills, with many seeing their minimum payment increase substantially. Fortunately, now, more than in recent years, 0% credit cards offer a safe harbor from high rates. There are two basic types of 0% credit cards: those that offer a 0% rate on balance transfers, and those that offer a 0% on purchases. The best credit cards offer 0% interest on both. How much savings can these credit cards provide? Let’s take a look at the math.

Let’s assume you’re carrying a balance of $10,000. If you simply pay the minimum each month, you will accrue close to $2000 in interest over the course of a year, thanks to daily compounding balances (too bad savings accounts don’t pay that type of interest). With a 0% balance transfer, you can expect to save all of that money, plus, you’ll be given time to pay down that debt. When the 0% period expires, not only is there a chance your interest rate will be lower, but, if rates do not go down, you can always transfer the balance to another 0% credit card. Plus, if you make a minimum payment of $150 a month, your balance at the end of the year will be closer to $8200, rather than $12,000. That’s quite a difference.

Now, if you’re fortunate enough to have no credit card debt, a 0% interest rate can be handy tool to avoid interest expenses on new purchases and free up some cash in the short term. Need a new fridge? Have to fix your car? Want granite counters for the kitchen? With a 0% credit card, you can defer the cost of these expenses for a year while taking advantage of high interest rates. How? By placing the cash that would have left your bank account into a high-yield savings account and taking advantage of rewards credit cards.

Let’s assume you will make $10,000 of purchases over the next few months. Using a credit card with a 0% interest rate and 1% cashback rewards, coupled with a high-yield savings account with a 4% interest rate can put about $500 extra in your pocket over the course of the year.

Of course, not everyone pays their balance in full each month. With average credit card interest rates in the 12% to 15% range, carrying a monthly balance of only $1000 can cost close to $150 a year. Saving $150 in interest charges may not be a fortune, but its surely enough to buy a nice dinner with a good bottle of wine.

The Federal Trade Commission through an act of Congress has authorized that the three major credit reporting bureaus offer one free copy of your credit report to you on an annual basis. This decision has proven to be a boon for consumers who can now find out what creditors are saying about them and quickly respond to errors and omissions. Not all offers for obtaining free credit reports are truly free. Read on and we'll explore how you can know if an offer is right for you.

First off, only AnnualCreditReport.com is the internet site established by Experian, Trans Union, and Equifax to provide free credit reports for consumers directly by the three main credit reporting bureaus. At this site, you can get one free copy once annually from each company, but you will have to pay five to eight dollars to obtain your credit score, which is separate from your credit report. You don’t have to order your score, but it is valuable information that can be handy to you.

Secondly, there are companies out there who claim to offer free copies of your credit report and credit score through them. On the surface these could look like better offers, but they always have a string attached, namely other services you must purchase. These services can include credit monitoring, credit watch, and the like. Fees for these services vary, but you'll probably pay $8 to $12 per month for most services. Add it all up and you will dish out more than $100 for this type of plan while it will only cost you $20 or less through the FTC’s approved site at AnnualCreditReport.com

Finally, It is not wrong for these companies to offer these services to you. It can be a bit misleading, but they usually are upfront about what is offered to you through their plans. However, if you pull your credit reports on a regular basis, then you simply don't need their credit watch service. Just keep an eye on things through your free reports and mostly everything should be okay.

The word " Credit " is a derivative of the Latin word “creditus” (“to believe”), is equivalent to trust. A person or an institution is giving you their services or merchandise and trusts that you will pay for these items at a later date.

Credit has become part of our daily financial transactions. As people make fewer cash purchases and rely more heavily on credit cards, debit cards, and automatic banking transactions, your personal credit history is linked to every purchase you make. Consumer credit reports are widely available from the three major credit bureaus – Equifax ( http://www.myFicoCredit.com ), Experian, and TransUnion.

From electric and cable bills (non traditional credit reports ) to credit cards, vehicle financing, mortgages, personal loans, and even job applications, people are viewing your credit rating more often than the average consumer realizes. This is one reason is has become more important than ever to maintain a good credit history. Making payments on time, avoiding unnecessary debt, and keeping your spending under control are ways to ensure your good credit doesn’t become bad credit.

If you have damaged credit, the negative information can appear on your credit report for seven to ten years, depending on the type of debt incurred. There are ways to remove bad credit from your consumer credit report, but it takes time and effort by someone who knows what they are doing. If credit problems from the past are marring your good credit today, contact some credible credit repair companies to help you.

Credit card is just a piece of plastic card with your name and some sort of a credit card account number attached to it. You might as well think that it is just a simple identification card if you have not tried getting one for yourself.

However, many individuals are craving to own a credit card. Beyond that piece of plastic card lies an opportunity of making purchases without using cold cash. Yes! With just a credit card, you will be able to make several purchases on different establishments accepting credit card payments. Groceries, department stores, specialty shops-almost every establishment is now accepting payments through credit cards.

The introduction of credit cards opens the door for a "cashless society". Aside from the convenience of using credit cards for purchasing purposes, your hard-earned money will be save from crooks who want to take your money away from you or simple misplacements. In addition, you will be able to track your expenses through the summarized transactions that you have made using credit cards. You will be able to manage your expenditures without neglecting anything.

There are now millions of Americans who own several credit cards under a single name. With more and more individuals applying for it, credit card companies are becoming competitive. They are infusing new ideas to get more customers on their respective clientele bases. In fact, there are several credit card companies who teamed up with other corporate entities to offer rewards to credit card owners.

One of the corporate entities that they usually team up with are commercial airlines. Travel and credit now go hand to hand to provide clients free air miles every time they will make purchases using credit cards. Thus, it paved the way for the advent of airline credit card, which is ideal for individuals who are into traveling.

These airline credit cards are produced mainly by a particular credit card company, though it also displays the company name or logo of their airline partners. If you make any purchases using airline credit cards, you are entitled to earn points that you can exchange for free air miles. In most cases, you need to acquire necessary points before getting a free airline ticket. Thus, you need to read the terms and conditions of the card so that you will be able to understand how the points system works. The point system varies from airline to airline, so always check with your credit card companies about the guidelines for such reward points.

Airline credit cards are ideal and convenient for those individuals who travel with a specific airline. Though the fees tend to be higher with this type of credit cards, but you will be able to earn free airline miles which are comparatively cheaper than purchasing a separate airline ticket.

Credit Score Basics

Your credit score is something you can see on your credit report. You will typically have three different credit scores on your credit report. This is one score from each of the three different credit bureaus.

These credit bureaus collect information from all of your different creditors and assign you a credit score.

Mortgage lenders usually use your middle (“mid-score”) of the three credit score as part of your mortgage application. Usually your three credit scores are usually quite similar, but sometimes they can be very different.

Collections

Your credit report will list bad debts and collections.

The more you have of these, and the more you owe on these, the lower your credit score is likely to be.

When you review a copy of your credit report you may see creditor names that you do not recognize who claim that you owe them money.

These unfamiliar names are usually the names of collections companies you have purchased your bad debt from your original creditors. For example, an unpaid cell phone bill may be sold off to a collection agency.

Your credit report will usually contain the account number, phone number, and address of each of your creditors.

You can contact them to resolve your disputes.

Either you will need to pay off bad old debts or convince the creditor that these are in error.

It was one of those extra special Saturdays with a crisp coolness in the air. The sun was shining brightly through the front windshield so much so that the visor had to be lowered. Having left early from his part time job, Travis stopped at a convenience store to pick some beer and food. Three friends were meeting at his house to watch the Notre Dame versus Michigan football game. The wives were coming along later to enjoy a late cook out and to enjoy the newly installed heated spa and pool. Travis and Penny had acted on a promise they had made to themselves when they bought the home four years ago. A primary requirement, beyond the three bedrooms, two baths with a two car garage and large family room, was the need for a large lot that would allow for the construction of a big heated pool and spa. With three children and an active social life this was an important centerpiece of family activities. It was important to complete this mutual promise. It made sense of the hard work and commitment to make this happen.

As a systems engineer at a local company, Travis had not received the anticipated bonuses and pay raises that had been outlined when he hired on right out of school ten years ago. Deciding early on to stay in a smaller city where they grew up and had family with any alternative employment being somewhat limited without a major commute to the nearest active employment center 100 miles away. Penny worked as an outside pharmacy sales representative with one of the big drug companies and ran her regular route between doctor’s offices and clinics. This was the ideal job for Penny as it gave her great flexibility to spend more time with the children who were now all school age. As planned, Travis and Penny had three children in quick order to compress the parenting time into a tighter time frame. When Travis and Penny bought their home the mortgage market was very attractive and they were able to lock up a 5.75% fixed rate on a 30-year mortgage. Travis and Penny justified the expense of putting in the pool by Travis taking a part time job as a security guard at 20 hours per week to meet the payment of the new second mortgage utilized to install the pool and spa. Efforts were made to double the payments of the Home Equity Line of Credit to pay it off early and get down to one payment on the house. That rate was tied to prime and recently had been climbing and the payments were going up. Prime it seemed was going up monthly. Travis and Penny had been very responsible with credit and as a result had good credit scores in the 750 range. Now, with climbing payments on the HELOC Travis and Penny were just able to pay the minimum monthly payment. From time to time, they took advantage of credit card offers as it turns out to a big extent. In a year’s time, they had 12 credit cards with active balances. It just started to creep up on them as they were now just making the minimum payments each month. With their good credit, the credit card rates were good. Travis working the extra time on the part time job some of the bills paying duties were shared with each assuming that the bills were getting handled. In a small alcove of the kitchen was a built in desk area with small cubbyholes and pull out drawers acted as the repository for due bills and the checkbook.

As Travis pulled in the drive way with the goods from the convenience store, as was his practice before unloading, he checked the mailbox. Sure enough he had a fist full of mail. He gathered up the food and beer from the car and carried everything into the kitchen. Upon setting the groceries and such down he headed to the in-kitchen desk to deposit the mail to go over later. However, on top, was a letter from one of their credit card companies. Travis opened it and the communication indicated that they were 30 days late on the credit card payment and that they needed to call immediately to get it handled. Travis and Penny conferred and while ignoring the bagged groceries on the table, began tearing apart the desk looking in all the cubbyholes and crannies, and stuck way in the back crumpled up with another paid invoice was the original bill (now over 30 days late).

Unbeknownst to Travis and Penny, is the “Universal Default” trigger mechanism used by many credit card companies who regularly check your payment history in the bureaus. If they find a 30-day late or other derogatory information the interest rates on ALL the credit cards can be accelerated in many cases to the maximum legal limit. Thus, the sweet heart introductory rates went in some cases from 8.5% to 29.99% to varying degrees. Overnight the minimum monthly credit card payments more than doubled. They were in a real pickle now. The real estate market had pulled back recently and the full value of the pool and spa did not result in a higher appraised value. In looking at their situation, they now had a current balance $165,000 first mortgage at 5.75% with fixed principal and interest payments of $1,021.25/month with little principal pay down since origination.

The taxes and insurance added another $275/month. The second mortgage HELOC was $33,500 with current payments based on prime + at $301.41/month. Then their total monthly housing expense was $1,021.25 + $275 + $301.41 = $1,597.66/month. When they added up the credit card debt it was some $37,500 with an average of 29.99% and minimum payments of now $1,450.00/month. Their total debt was $1,581.69 + $1,450.00= $3,031.69/month. Travis and Penny were stunned. Penny called the mortgage broker who got the original 5.75% purchase money mortgage and shared their pickle and was asking for possible answers short of selling the house or going into a Chapter 13 Wage Earner Bankruptcy Plan. Bob the mortgage broker had worked out a couple of scenarios with one being to sell the house. The market-appraised price didn’t allow for much debt consolidation with the equity available. So Bob suggested either to sell the house or keep the 5.75% first mortgage in place and utilize a 125% Combined Loan To Value (CLTV) mortgage product that would allow the paying off of the HELOC (which had been going up) and payoff all the credit card debt.

I want to address a question I've been asked a lot lately...

"Why have my credit scores gone down since I last checked them even though I've made all my payments on time?"

First let me tell you that the only way your credit scores can go down is if information appearing on your credit reports changes.

Your credit scores are calculated from:

1. Information provided by lenders you have accounts with
2. Lenders when you apply for new credit
3. Public record information (i.e., judgments, tax liens, bankruptcies, etc.)

This information is reported to your credit reports on a regular basis. Sometimes even daily.

Some of the things that will change your scores are:
1. Late payments
2. Recent credit inquiries
3. Higher balances on your credit cards
4. Higher balance on your Home Equity Line of Credit (HELOC)
5. Closing revolving accounts
6. Credit limits increased/lowered

Let's say you purchase your credit scores and you notice your scores are lower than they were the last time you checked even though you didn't make any of the mistakes above. What happened?

Step 1: Compare Apples to Apples

There are different kinds of credit scores. You need to make sure you are purchasing your FICO credit scores. Two of the credit reporting agencies are playing a dirty trick on us when it comes to our scores. Credit scores aggressively marketed by TransUnion and Experian are their own proprietary credit scores. Most lenders use FICO credit scores not TransUnion's or Experian's proprietary scores. So buying proprietary scores are useless.

However, Equifax does it right. They only aggressively market their FICO credit score. They get brownie points for holding themselves to a higher standard!

Step 2: Purchase Your FICO Scores from the Same Source

Don't purchase your scores through one source the first time and a different source the second time around. It doesn't work that way. You need to purchase them through the same source.

You see, different companies that sell or provide FICO scores use different versions of the scoring software Fair Isaac created to calculate a FICO score. It's similar to the different version of Microsoft software products. If you asked 50 people what version of Microsoft Word they were using, you would get many different answers. Same basic software, but several version numbers. So it is with FICO scores.

If you purchase your scores through FICO’s website and compare them to the scores you received from your auto or mortgage lender...you will most likely have different results.

By always purchasing your scores through the same source you're guaranteed to have an accurate comparison of what triggered any change in your credit scores.

Step 3: Compare Your Reason Codes

Now that you know you should purchase your FICO scores from the same source it's time to examine your reason codes. Your reason codes will tell you what changed on your credit reports and give you clues as to why your scores went up or down.

You have four reason codes from each credit reporting agency...for a total of twelve reason codes. What you need to do is compare your reason codes from your previous set of credit reports to the reason codes on your current credit reports.

Your reason codes are in order of importance. So if the order of your reason codes changed it's a clue something changed on your credit reports that lowered/increased your credit scores.

Many people have used credit cards daily to make payments and purchase items. For most people credit cards are helpful in managing their payments and purchases because of the monthly payment basis that credit cards offer. Usually consumers have at least one or three credit cards they use to make daily transactions and because credit cards have become a source of identification, credit cards companies have gained profit in credit card transactions. In fact, credit cards are very tempting to use and non-stop uses can also lead to bad credits.

Credit cards are convenient yet tempting for many consumers that have led to irresponsible use of their credit cards that can result in bad credit. Once a consumer has bad credit, applying for credit cards can likely decrease the chance of obtaining a card. In fact, companies that offers credit cards will deny the consumers application therefore consumers will look for other means to obtaining a credit card.

Applying for credit cards with bad credit can lead consumers to an endless search. There are several factors that consumers should consider while applying for credit cards. First of all, learn from mistakes by avoiding repetitive miscue that led consumers to having a bad credit. Now, if consumers have regained better credit, they can again apply for a credit card but consumers should avoid applying for every credit card available in the consumers market to lower credit card question. These questions or inquiries should be eliminated and choose companies that specializes in credit card with bad credit background. This way the consumer will be able to bring back credit history and rating to an exceptional level.

Credit card companies that accept bad credit records should be researched to learn and gain more knowledge of the different credit card company offers. Many of these companies have goals in helping consumers establish new credit and a chance to rid of their bad credit. On the other, some companies often take advantage of the consumers stability for the companies own interest. There is a general rule for consumers when obtaining a bad credit, credit card that is for consumers will not be able to avail a low interest rate like the usual credit cards without bad credits.

Consumers with bad credit history applying for credit cards should read all terms and information regarding certain fees, penalties, and other obscure charges that consumers are not familiarized with. For example, consumers that have applied for secured credit cards need a savings account as collateral purposes that at some point the bank will claim if a default payment occurs. During the deposit, consumers will likely encounter fee charges like startup fee, monthly service fee and an annual fee that companies charge to your credit card accumulating a balance before even receiving the card. These fees will always be associated with credit cards, so if you are still thinking of applying, familiarize yourself with credit cards to find the lowest interest rate that most company offers to consumers with bad credit.

Air travel is relatively expensive despite of the existence of several commercial airline companies. In fact, air fares are always subjected to market changes; that is, air fares are volatile in nature. For instance, you are flying from Miami to Las Vegas. There are commercial airlines that offer air fares for as low as $180. However, an increase on the number of passengers (due to travel seasons, for instance) will prompt airline companies to grab the opportunity of earning out of this excess number of passengers. Thus, they tend to increase prices after several months.

If you are traveling by air for business purposes, let your company worry about the increasing air fare. However, if you are traveling for personal reasons, you will feel the burden of the increase. Although air travel is the fastest way of getting into a certain destination, you might prefer riding interstate transportation system or cruise lines (if you are traveling overseas) instead of hitching on an "air ride" due to expensive air fares.

Before you think of getting an alternative transportation medium, you might as well think of getting an airline miles credit card. This credit card provides positive results in terms of efficient service and convenience for frequent travelers. In fact, it even offers some sort of extended boundaries to provide credit card holders some valuable incentives for every transaction that they have made using such credit cards.

Airline miles credit card are no different from the standard credit card in terms of concepts and functions. Both these cards make use of the same operation system and all applicable fees and other related transactions undergo the same process. The only difference noted in an airline miles credit card is the reward of free air miles that can be converted to airline tickets given for every transaction that you will make using such credit cards. In other words, if you are using an airline miles credit card in your purchases, you will be able to accumulate several points or "free air miles' that you can convert to free airline tickets later on.

In most cases, every dollar that is charged to the cardholder earns him "one point". This single point may be equivalent to a mile of air travel (the corresponding points may vary according to the terms and conditions of the credit card company and its affiliate airline company). Accumulated points can be exchanged with free airline tickets.

The points that you have accumulated through airline miles credit card purchases can also be converted to cash. In addition, you are given the convenience on acquiring several services within a single credit card. In other words, you do not need to obtain three or more credit cards that could translate to possible larger accrued debts later on.

Using an airline miles credit card is very economical, though you also need to determine the best airline miles credit card for you and your family. There are two things to determine the most economy-wise airline miles credit card: the benefits that are offered by the airlines that are frequently flying in and out of your area and other benefits aside from getting free air miles (such as discounts or freebies). Once you have established that two things within a single airline miles credit card company, you do not have to worry about getting into debts and not getting that free air miles that you need.

Most of today's lifestyle cannot do without a credit card. And this is true especially among individuals who need to make emergency purchases or cash advances. But before going to a particular bank, or secure any online credit card application, you have be very sure that you're applying for the best possible card for you.

It is best if you can shop around for the different credit cards available in the market. If you plunge into cards offering low interest rates at first glance, you might regret it in the end.

Most cards offer very low interest rates for a maximum period of six months, and after that, they would be charging a different rate. Other credit cards also charge annual fees, which can eat up the savings that you've been making for several months.

You can find in the net sites that provide credit card comparisons many search engines. You can make use of these tools to aid you in choosing the best credit card available in the market.

If you currently have a card and is unsatisfied with its services, you can always ask your credit card company about possible new offers, or find out if another company has a better arrangement.

Most experts will likely tell you that a card with a low-fixed interest rate is much better that a card with variable rates. This would entirely depend on how you are going to use your card. Different cards have their own advantages and disadvantages, and it would help you a lot if you can get information about this matter.

Other important considerations include understanding all the conditions, terms, and the key numbers such as annual fees, APR, penalties, grace period, interest on cash advances, late/over limit fees, and other deal terms.

Most of today's credit cards have cash perks. You should be aware that these cash perks is not all good news. It might even cost you a lot. Some of these options provided by card issuers are automatically added to your account, some you can actually turn down, and some asks for your consent. Before going any further, you must clarify all the necessary details with your card company to avoid any misunderstandings.

Credit card companies usually provide for options like purchase protection, discounts, insurance, flyer miles, and cash rebates.

You should also be aware that there are people around you who are completely dishonest, and want to make a fool out of you intentionally. So make sure that you watch out for these scammers:

- offers for debt suspension; other banks offer this especially to those who can't settle the full amount of their bills monthly because of a disability/job loss; they hold the amount, and after you're back at the working scene, the balance is still there waiting for you.

- advance payment of fees: people who are in desperate need for a credit card are likely to fall prey in this kind of scam, once you make an advance payment, you will never find or hear from those scammers again.

- purchase credit protection; you must be aware that there is already a law that protects credit card users, so make sure that you immediately report if your card is stolen or missing.

Managing personal finances could be a difficult task for some people. It's when they already get hold of the amount when they no longer know what they actually needed. And it's when they don't have the cash that they finally decided to shop for some other things.

For these circumstances, the credit card plays an advantage. It lets you get what you want when you want them. It provides the convenience when dealing with cashless transactions such as online shopping or service payments. And more so, it can offer a lot of incentives that you can use to save you both your money and efforts.

So to have an access to these benefits that the credit card offers, foremost, you have to apply for a credit card. But before doing so, there are just some pointers to help you decide on which credit card provider you will join.

Most of the company offers sound the same as they all banner low cost rates. But normally, they are not. The terms and conditions vary from one company to another and the incentives all seem good.

So when you find it hard to choose which is which, set your priorities. This will determine what weighs more important to your lifestyle. It's like when you don't fly, you don't actually need an Airline incentive. But if you travel a lot, then it could be a good deal for you.

And when you have thought about these things, it's time to browse on the credit terms. Be sure you read carefully the fees that will be charged to you. Certainly, you don't want to be paying for an extra amount every month. Find a credit card company that does not charge a closure fee and offers a longer grace period. Make sure that you choose a credit card with a friendly annual percentage rate. If possible, avoid unnecessary additional fees that will add to your burden at the end of the month.

When you have sorted out these things, you can now apply for a credit card. Commonly now, credit card providers post their application forms via the internet. It provides fast transmittance of information. Since life turned out to be always busy, online application is a convenient way for most people. However, for those who would personally want to talk to company representatives, visiting the company is a good decision. In any manner, items to be filled up in both ways are almost similar.

The advantage of applying online for a credit card is that the information that you input to your application is transferred to the credit card provider's database instantly. Therefore, processing of your application is comparatively faster. Moreover, credit card companies encourage this way because they can save from paying for representatives' compensation. In a minute or two, you can readily know the result if you are a qualified cardholder or not.

Bad credit name is subject for disqualification. Credit providers will surely check how you have dealt with your credits in the past to ensure that they won't lose in the business.

The idea of having a credit card with low interest or even a credit card with 0 percent interest rate is a very attractive idea. It may seem like there's no credit card company that offer this kind of benefit. However, there are credit card companies that offer 0 percent credit cards. And, there are also a lot of them too.

There are companies that offer credit cards with 0 percent interest if the company is sure that the person or company they will issue their credit cards to has a good credit rating. Or, sometimes, some credit card companies only offer this kind of credit card to individuals or companies that have excellent credit rating.

0 percent interest credit cards are offered by credit card issuers as a way to attract more clients. Just think about it, with this kind of feature in your credit card, you will no longer have to pay interest for every item you purchase using the credit card.

With this offer, it would really make people transfer from one credit card issuer to another. If you have a high interest rate credit card, you would get attracted to this offer. Besides, with the availability of 0 percent interest credit card, why would you want to stick to your credit card that has a relatively high interest rate?

It is a fact that these offers are very attractive for everyone who owns a high interest credit card and also for people who are considering getting a credit card. However, many of these 0 percent interest rate offers are usually offered only on an introductory period. This means that the 0 percent offer is only available for a limited period of time only. Sometimes, it can be as short as three months and sometimes it can be as long as 12 months.

You don't want to find out that as soon as the 0 percent introductory period expires, the credit card you have holds a high interest rate. So, for you to get the best offer in the 0 percent interest credit card, you have to consider the following before you apply:

- First of all, you need to determine on where the 0 percent interest is applicable. For example, it may only be applicable to balance transfers, it can be on cash advances, or it can be on purchases you make with the credit card.

- Determine how long the introductory 0 percent interest rate will last. The longer the introductory period, the better.

- You should also consider how much the interest rate will be after the introductory period expires. Some credit card issuers offer 0 percent interest rate to get more clients. However, after the introductory period, you may find yourself with a credit card that has a high interest rate.

This type of credit card is usually used by people who want to pay off their credit card debt. This is because with a credit card that offers 0 percent interest rate, the actual debt is paid rather than paying for the interest. If the 0 percent interest introductory period expires, you apply for another credit card that offers 0 percent interest rate.

However, there is no guarantee that you can get another credit card with the same feature. This is because, when applying for a credit card, your credit rating is always considered by the issuers.

Credit cards are now considered as a necessity in today's world. With a credit card, you will be able to purchase items and services without needing to carry cash. With this feature, it is certainly very attractive to own a credit card. Besides, with a credit card, you can purchase the things you need in case of emergency. You can also save yourself the trouble of carrying cash.

However, when applying for a credit card, you have to consider quite a few things first before submitting that application form. Firstly, you have to determine your needs when you apply for a credit card. You need to know how you will be using the credit card. You also need to determine your credit history and determine whether you have a good credit rating. If you have a good credit rating, the chances of getting a credit card will improve.

You should keep in mind that your credit rating is one of the most important factors when applying for a credit card. If you think that you have a good credit rating, the next thing you have to do is choose a credit card issuer. The next step is to go the credit card issuer's office and tell them that you are interested in applying for a credit card. They will provide an application form for you to fill out correctly, read the terms and agreement and sign on the dotted line.

Getting approved for a credit card will depend on your credit rating and also on the type of credit card you choose. Always remember that you have a good chance of getting your credit card approved quickly if you have a good credit rating.

Usually, the bank is where you apply for a credit card. Banks are preferred by most people because of the securities and benefits they offer to their credit card holders. When choosing a credit card, you should keep in mind that you should choose a credit card that has a lot of benefits, such as introductory offers, low interest rates, and also consider the rewards that they may give you if you use the credit card frequently.

Here are some of the things you should consider when applying for a credit card:

- First of all, as mentioned before, you should determine if you have a good credit rating by checking your credit history and report.

- When applying for a credit card in a particular bank, you should keep in mind that it is not necessary to open a checking or savings account in the bank. However, if you already have an existing account with the bank, you can have access of a low limit card with easy payment schemes.

- When filling out your application form, you need to be able to honestly fill out the blanks. If you give false information and your bank or issuer discovers it, your application will be rejected immediately.

- It is also important that you should read and understand the credit terms. Make sure how much is the interest rate for every purchase you make with the card in order to know what to expect in the monthly billing statement.

These are some of the things you should keep in mind in order to get approved for your credit card. If you are a first time credit card user, you will likely be offered a card with a high interest rate. It is advisable that you take it, use it, and pay on time. If you do this, you can renegotiate your credit card's interest rate after the first six months of owning and using it.

$15,000 over 5 cards is about average credit card debt for an American. The common US credit trap seems to be a combination of too much access to credit with limited education what exactly credit is and how much it ACTUALLY costs. There is some math ahead... so prepare yourself.

Until recently your credit card minimum payment was probably calculated at between 2% and 2.5% of your outstanding balance. This meant that you could charge MASSIVE amounts of things you wouldn't normally be able to afford...and still only pay a small amount of money every month. Sounds great right? The problem shows itself when you actually do the calculations. Lets take a $5000 debt at an 18% interest rate (and cue the math)

Lets use B(n) to signify the size of the unpaid balance(B) on a credit card after n amount of months. With that being said the size of the initial loan will be B(0). We'll use i to be the monthly interest rate . The monthly interest rate is annual rate divided by 12. (For example, if the annual interest rate is 12% then i is .01.) If the minimum payment due is 2% of the unpaid balance, we get the following equation:

B(n+1) = B(n) + iB(n) -.02B(n)

So,

B(n+1) = (.98 + i)B(n).

This equation can be solved "easily":

For simplicity, use r to denote .98 + i.

Since B(1) = rB(0), and B(2) = rB(1), etc., we can conclude that:

B(n) = r^nB(0). (*)

Now back to the $5000 of our new debt

You spend $5000 at 18% annual interest to take that killer vacation you've always wanted. Now you think lets just pay the minimal amount possible each time so you can also afford your normal stuff, what amount would be left to pay off after one year?

Back to the math:

Since the annual interest is 18 percent, the monthly interest is .18/12=.015.

Hence, B(n) = .995^n(5000) = $4708.12. This is little progress on retiring your debt from one year of payments.

If you think about the situation here you will see that if you only pay the minimum amount the process could go on forever! Can you guess what interest you'll have actually paid for that $5000 vacation after you finally finish with those minimum payments?

The semi-good news is that most credit card companies have recently, at the urging of our federal government, raised the minimum monthly payment percent to a whopping 4%. With that little change our calculation now looks something like this: B(n) = .975^n(5000) = $3690.00. This 2% change means that after year one of minimum payments you're much better off then the old way - but you are still a long way from wiping out your debt.

Credit cards nowadays are classified under an individual's bracket of "necessities" instead of "luxuries". It is categorically known as an "asset' rather than a "liability". This plastic contraption is now more of a facade of an ordinary individual who wants to experience more efficient financing rather than a facade of a wealthy individual who is capable of making purchases without bringing a single dollar bill out of his pocket.

There are plenty of reasons why there are now millions of Americans owning single or several credit cards, though it is most attributed to the financial crisis that an ordinary individual is experiencing. Credit cards provide an opportunity for an ordinary individual to make purchases despite the absence of cash. In other words, credit cards help them with their expenditures when they do not have the cash. It is their one of the alternative recourse every time they are "cash-strapped".

However, there are still individuals who get a credit card just because they do not want to carry cash within their pockets. There are also some who wants to get something out of what he spends using his credit cards.

Despite of the varying reasons (whether for necessity or pleasure), credit cards are very popular nowadays. With attractive market offerings provided by various credit card companies, sometimes you will run out of reasons not to get a credit card for yourself. However, before getting yourself involved in the latest financing craze, you need to know something about credit cards.

Credit cards are not just handed out like a box of chocolates.

Just like other existing financing schemes in the market, you need to apply for a credit card first before getting one and using it in the majority of your purchases.

And applying for a credit card requires basic knowledge about the applicable conditions on the use of such cards and the prevailing fees and charges in which you are obliged to pay. Without the knowledge with regards to the basics of credit cards, you will end up paying larger debts that may damage your credibility as a responsible individual.

There are various ways to apply for a credit card. You may try online application, calling the credit card company directly, or fill out credit applications via mail. Remember that in applying for a credit card, you are required to hand out some of your personal information. For instance, credit card companies ask for your social security number because they will use this to run a credit background check on you. At this point, you must ensure that you possess the best credit rating possible to have higher chances of getting approved for a credit card.

You need to conduct some research about the credit card companies that offer the best APR or the annual percentage rate as well as bonus programs. There are companies that offer a lower introductory APR for new cardholders within a certain period of time. If you are quite lucky, you will be able to get zero APR within a one-year credit term. In terms of bonus programs, it varies from company to company. These bonuses usually come into the form of cash rewards, free air mileage, or points that you can exchange with premium items.

The last thing that you should look for when applying for a credit card is the applicable fees and charges as well as your credit limit. There are credit cards that require you to pay annual fees prior to its activation. The applicable fees and credit limit also depends on your income and credit score, so make sure that you are always within average or possibly above average.

Are you someone who has not established credit yet? Are you being denied the same access to credit cards, loans and other credit ways simply because your credit score is too low from not having enough credit or no credit at all. Don't fret, because help is on the way!

If you are planning on getting a personal loan, owning a car, having a home of your own, working in a bank or finally acquiring the furniture you've been longing for a long time then establishing a credit is the answer.

Here are a few ways you can start building up your credit report and get on the road to good credit!

- Start to apply for a guaranteed approval credit card that reports to the credit bureaus. Take your time and always read the fine print in order for you to find the best deal for yourself. These cards are similar to debit cards but they have the Visa or Mastercard logo on them and they report to the credit bureaus.

- Another option might be to check if the lending institution of your choice has a secured credit card being offered. The interest may be higher but you may be able to upgrade to an unsecured card within 12 months if you maintain your payments on time.

- Another type of credit card with easy approval requirements is the merchandise credit cards and department store credit cards. These are an excellent source to start to establish a line of credit. Make sure it's a store where you can purchase a lot of your shopping needs. This way, you don't need to apply for a multiple cards at once which can be seen as a negative on your credit report. One word of caution. Department store credit cards tend to have high interest rates, many of their interest rates start at 15%. So keep an eye on your balance and try to pay as much as you can each month. NEVER make just the minimum payment, especially on a department store credit card.

- Don't forget to fill up any application for a loan or credit card completely. If something doesn't apply put N/A on that line. Include your checking and savings accounts and any accounts you pay for on a monthly basis even if they do not appear on your credit report. If they do not appear on your credit report, please make sure you include a way for your prospective lender to contact them for a trade reference.

Credit cards are one of the most useful tools in today's business world. As an entrepreneur, you might want to own a business credit card in order for you to efficiently make more money and help your business grow. It is a fact that in order to make money, you need to spend money. With a business credit card, you can get all your business needs in no time at all and get more money in return.

There are different types of businesses that exist in today's world. Therefore, there are also different types of business credit cards that exist. Depending on your business, you can have an open credit card on where you have an unlimited amount of credit or you can have a substantially high credit limit in order for you business to grow or get what it needs to grow.

A business without a credit card is like a ship setting out to sea without a lifeboat. So, as an entrepreneur, you will need this "lifeboat" in order for your business be successful and survive on hard times.

Another advantage of business credit cards is that it eliminates the need for you to carry large amounts of money. This will mean more security for you when purchasing things that is essential for your business to run smoothly.

As the owner of a particular company, you can also supply selected employees a business credit card or also known as corporate credit cards. They can use these credit cards to deal with company expenses they have to make. For instance, your supply manager can purchase office supplies with the use the credit card you issued him or her.

Your company can keep track of the expenses and therefore, will determine on what kind of purchases your employee have made by using the credit card. You can also allow your employee to purchase things for personal purposes like food and other necessities, but you need to separate the personal expenses from the professional expenses not just for tax purposes but also to monitor operating expenses of your company.

Business credit cards are indeed a necessity in every kind of business. Whether your company is big or small, you will need a credit card to keep up with today's fast paced world of business. Not only will business credit cards will help your business operate smoothly, but it can also help in giving your company a good credit standing or credit rating.

With all of these mentioned, it is now time for you to choose what kind of business credit card is suitable for you. Having mentioned this, you have to know that there are different kinds of business credit cards available. You have to know which one is suitable for your company.

In order to do this, you have to ask about the credit limit, the interest rate, the annual fees, and also the rewards that your company can benefit from.

If you consider all of these, you will find a business credit card as one of the most useful tools that your company can take advantage of in order for it to grow. So, if your company still doesn't have a business credit card, consider applying for one. You will see that choosing the right business credit card can be advantageous for your company.