Wednesday, December 31, 2008

Credit Card Comparison - Understanding

Making comparisons for a credit card can salvage a batch of money on interest and fees. Doing a research will assist in determination a sight 1 that lawsuits your needs. Let us assist you in considering some points before you settle down for a card.

_ The first 1 to retrieve is apprehension the characteristics of credit cards.

_ Do not forget to compare credit card characteristics and costs.

_ Keep checks upon your rights & restrictions before & while using your credit card.

_ You should always register a ailment if you confront any problem with your debit entry card.

The first thing to maintain in head before choosing a credit s thinking about how you will utilize it eventually. If you desire to pay your monthly measure in full and other characteristics such as as frequent circular miles don’t interest you, then you should settle down for nil but a card have got no annual fee & offers a longer decorate period.

But if you may come up up across states of affairs where you have to come over a balance from calendar calendar month to month, then a card that carries a lower interest rate (APR) would be ideal for you.

If you anticipate to utilize your card to get cash advances, you will desire to look for a card that carries a lower APR and lower fees on cash advances. There are some cards which charges a higher APR for cash advances than for purchases.

Wondering what an APR it? It is the Annual percentage rates, which state the interest rate you are supposed to pay delight you, carry over a balance, take out a cash advance or transfer a balance from another card. The APR basically states the interest rate as a annual rate.

The Grace period: - A saving grace time time period is the number of years you have got to pay your measure in full without triggering a finance charge. If a credit card company states that you have got 25days from the statement date, provided you’re paid your former balance in full by the owed date. The statement day of the month as given on the bill.

This saving grace time period is applicable alone to new purchases. Some credit cards make not supply any saving saving grace time time period for cash advances and balance transfers and start their interest charges right away.

If your balance is carried over from the preceding month, you may not enjoy a grace period for new purchases. You must look for the information about the “method of computer science the balance for purchases” which states you connecting about the inclusion & exclusion of knew purchases in this case. Never disregard the small black and white while deciding on anything.

Monday, December 29, 2008

Credit Card Basics - Understing What You Need!

There are different credit cards to suit each individual. One needs to assess his or her needs before applying for a credit card online.

Many people feel that they have been through hell because of credit cards and would not like to repeat their mistake. Another common misconception about credit card is that having a bad history will stop credit card offers coming there way again. The truth however is something else. Some credit card companies offers great schemes to those with bad credit card. They also make cards specifically for frequent flyers, Wall Mart Shoppers, or frequent moviegoers. There are many offers based on incentives on shopping.

Let us see what things you should keep in mind before shopping for credit card.

The first thing that should be kept in mind is Annual Percentage Rate. An Annual Percentage Rate is the amount of interest you pay every year on your borrowings. The higher APR will make you pay more finance charges. The minimum amount that you are required to pay would be basically your past balance, try paying a little more than the minimum repayment. In short your APR should be as low as possible.

The next step to keep in mind would be introductory rates. Most credit cards offer a low or 0% rate of interest for an introductory period. You should strictly keep in mind that this interest free period is applicable on purchases and balance transfers as well. This will reduce your bill considerably.

You may seriously consider gold or a platinum card if you are a good earner and love to splurge on luxurious things. These cards have very less rate of interest and unlimited credit limit. They also come with exciting offers.

Another point to be considered is Grace period. During this period, a credit card holder doesn’t have to pay any interest on repaying the amount.

Cash back and rewards also offer a great relief to the customer. But such offers are mostly entitled for air miles, cash back or discounts. You should consider them seriously as they are of no use to you if you don’t fly.

Balance transfer rates are the most wanted among the customer who are having a huge outstanding amount. Many cards offers lower rate of interest. Thus, if you transfer your balance from one card to another with lower interest, it can help you with your debt problems and save a lot of money.

One should also avoid late payments as the interest in this case, keeps piling. A time also comes when the interest amount exceeds the principal amount. This can be avoided if you keep tabs upon the charges levied on the late payments.

Saturday, December 27, 2008

Balance Transfer Credit Cards: Are They Right for You?

If you are carrying a balance on one or more credit cards you already have, you may want to think seriously about applying for a new 0% balance transfer credit card offer.

Now you may be wondering how an issuer can possibly offer 0% balance transfers on credit cards, but it’s true. Many leading banks offer interest free balance transfers. That’s right, you can transfer balances from your current credit cards onto the new card that you apply for and pay 0% interest on the balance for up to 12 months. What’s more, some programs have absolutely NO fees to make the transfer, though you must qualify by having excellent credit. Other programs charge a 3% fee of the amount you transfer, but many banks commonly cap the fee at $75. That means that transferring more than $2500 will not cost you any additional fees.

Determining If a Balance Transfer Credit Card is Right for You

There may be a few cases when some consumers do not benefit by transferring to a zero interest rate card. For example, if you carry only a small balance from month to month and you intend to pay it off soon, it may be better to choose another credit card that offers a different benefit such as frequent flyer miles or bonus points good for merchandise, since the 0% interest savings are minimal for you.

But in most cases, taking advantage of a 0% credit card offer is a great deal. After all, why continue paying interest on your credit card balance with one bank when another bank is offering you 0% interest? There is no logical reason not to save yourself money.

The Benefits of a 0% Balance Transfer Credit Card

1. Paying 0% interest for 12 months can provide relief if you need to devote your cash to other expenses. With 0% interest, your monthly minimum payment is actually less than a credit card that charges interest, because more of your payment goes to paying off your principal each month rather than to paying the interest fees.

2. Alternatively, a 0% interest credit card allows you to pay down your debt more quickly because you might be able to increase your monthly payment since you no longer are paying interest for one year. For example, if you transfer $5000 to a 0% card, and your previous card had a 12% APR interest rate and a 3% minimum balance due payment, you would have spent $538 in interest fees over the year. But with the 0% card, you can choose to pay that extra $40 - $50 per month towards your principal, and thereby reduce a sizeable chunk of your debt.

3. Similarly, a 0% interest credit card might even allow you to pay off your balance with less each month if you chose to do this. For example, if you transferred $5000 and intended to pay if off over 1 year, you would need to pay $444 / month with a 12% interest card, but only $416/ month with a 0% interest card, a savings of $28 per month.

An Important Caveat

Please note that with any of the 0% balance transfer credit card offers, you must commit to making your payment on time each month. If you miss a payment or are late, you risk losing the 0% rate and you may find yourself paying a higher penalty interest rate on balances owed, so pay attention to your credit card statements and make your payments on time.

All in all, the savvy consumer should take advantage of the best 0% balance transfer credit card offer he or she can find. The best course of action is to look on the Internet for 0% card offers and assess the best choice for yourself, such as the Citibank Platinum Select Visa (with no transfer fees), or the Chase Platinum Visa, or HSBC Platinum MasterCard to name a few. It is recommended that you apply for the best card your credit history can qualify for and transfer as many balances as you can to take maximum advantage of these offers.

Copyright 2005 Ed Vegliante. Free online reprints of this article are allowed provided the resource box remains intact with a live link back to

Friday, December 26, 2008

Debit Cards

By now many college students are back on campus, if not in class
then settling into their dormitory suite and getting ready. Among their
books, bed sheets, new clothing and other necessities will be quite
often a credit card. Sometimes with the parents name on it, sometimes
just the students own.

Nearly 75% of all sophomores, juniors and seniors have got maxed out at
least one credit card. Nellie Mae's study in 2000 showed 23% of all
freshmen and 92% of all sophomores had at least one card in their

I don't need to talk you on the danger of giving a credit card to
a college student who is working portion clip and going to school full
time. The average student will earn a unmarried men grade with $30,000
in student loan debt and nearly $3,000 in credit card debt. Not good. I urge a debit entry card for the simple ground that when used, you
are only using money you already have. When you swipe the card across
the terminal at the store, the information is transmitted to your
bank which then takes the money out of your account. Ta-da, no debt. Of course of study if you have got automatic overdraft protection this characteristic is
worthless. AOP widens you a loan instead of bouncing the check or
debit entry card transaction.

A large drawback is the deficiency of theft protection. If the card is
stolen, you have got two years to report it, or else you are apt for
$50 of unauthorised charges. This leaps to $500 if you don't discover
the theft. If you wait over 60 days, forget getting your money back. To hike usage of their cards, Visa and MasterCard are promising that
they won't throw users apt for unauthorised usage. These cards
carry the appropriate company logotype and don't necessitate a pin number for
usage. You subscribe a reception just like a credit card, only the money
will be removed from your account in a twenty-four hours or two.

I could travel into item about how a credit card works, and how you
can utilize a debit entry card for cash retreat from standard atmosphere machines, but I don't
need to.

The best method of paying for purchases by college students is still
cash. But for those who desire the convenience of plastic, the debit
card is the adjacent best thing. So if you gave your college student a
credit card this year, take it away and replace it with a debit entry card. And then throw the student accountable for their purchases and travel over
their transaction record a couple modern times a semester.

Thursday, December 25, 2008

Fixing Your Credit Score Doesn't Have to Cost You

Credit repair ads claim to vouch a quick hole on your credit report. They assure for a fee (not always disclosed at first) to make clean up your credit history so that you can measure up for a new home, car, insurance, a job, or insurance premium credit cards. Before you subscribe up with 1 of these companies, you need to cognize some facts.

The existent facts on fixing your credit score

The existent truth is that no one can legally take information on a credit report. The Carnival Credit Reporting Act (FCRA) allows you, the consumer, to bespeak an probe of information in your data file that you challenge as inaccurate or incomplete. There is no charge to you. There are other stairway that you can make yourself, without paying a credit repair company, such as as:

*You are allowed a free credit report if a company denies you credit, insurance, or employment (if this is a portion of your employment application) provided you bespeak a report within 60 years of this denial. The notice will give you the name of the consumer reporting agency that provided this report. You can challenge information that this denial is based upon. Under FCRA, both the consumer reporting agency and the information supplier are responsible for correcting inaccurate or any uncomplete information inch that report.

*Put in authorship what information you believe to be inaccurate. Include transcripts of any certification that supports your claim. Be certain to direct this missive to the credit reporting agency, and direct it certified mail so that you can turn out it was mailed and signed for at their end.

*You volition get a response within 30 days. During their investigation, they must forward all your written documents to the merchant or seller that provided the negative credit information and report back to the credit agency. If they happen that the information is inaccurate, they must advise all three reporting agencies of their findings: Equifax, Experian and TransUnion.

*When the probe is concluded, you must have a transcript of the consequences in authorship and a transcript of the difference if it is changed. It the moot point is changed, the credit reporting agency cannot set the moot information back into your data file unless it is verified as accurate by the merchant or vendor.

*The credit reporting agency must direct notices of a rectification to anyone who received your credit report in the past six months. You can also have got got a corrected transcript sent to employers that did not engage you based on your credit report.

Removing a bad credit rating

When you have a bad credit evaluation based on negative information that is accurate, you can only wait for it to be removed over time. By law, a credit reporting agency can only report negative information for seven old age and bankruptcy for 10 years. For unpaid judgments, the reporting time period travels back seven old age or until the legislative act of restrictions runs out. Criminal strong beliefs and applications for over $150,000 of life insurance have got no clip limits. By starting to wage your measures on clip and contacting the creditors that you cannot pay, you can begin to change your credit profile to the positive side, but that volition take clip also.

If you make make up one's mind to utilize a credit repair company

Start by getting a free transcript of your credit report. Then piece all your credit card measures and compose them down. This volition give both you and your credit repair company a starting point. By law, credit repair companies must give you a brochure, “Consumer Credit File Rights Under State and Federal Soldier Law” when you subscribe a contract for their services. This contract must clearly stipulate your rights, duties and fees. The contract must also clearly item the verbal descriptions of the services they will execute for you, how long it will take to see the results, and any warrants they offer you. Members of the National Foundation for Credit Counseling are non-profit organizations providing free and low cost services to consumers with a broad range of plans, covering most types of credit used, including home mortgages.

Credit repair companies can assist if you’re drowning in debt. Before you subscribe a contract, check out these low cost and free options you can make yourself.

Tuesday, December 23, 2008

Protecting Your Personal Information

Identity theft is a phenomenon that is growing in leaps and bounds according to law enforcement authorities. In fact, on both the state and federal level we’ve seen major increases in criminal penalties. We see this as positive move on the part of government, since identity theft can create havoc in a person’s life, especially their financial affairs. With the right information, a malicious person can open credit accounts (and
further damage your credit rating), bank accounts, rent an apartment or an automobile… and much more. In doing so, they can commit various crimes that eventually are traced back to the victim of identity theft, creating great stress and undue suspicion –not to mention hours of time and effort repairing the damage done. You can protect yourself by providing only the most basic information to outside entities, unless you are thoroughly familiar with them and their legitimacy. At TCCF we utilize a variety of methods to protect the essential information of our precious clientele. Incoming callers must provide clear and indisputable identifying information before critical information is released.

Online access is via secure servers that require unique passwords and identifiers. You would do well to protect your data as carefully as we do.

Sunday, December 21, 2008

Useful Tips On Avoiding Credit and Charge Card Fraud

Credit and charge card fraud costs cardholders and issuers 100s of billions of dollars each year. While theft is the most obvious word form of fraud, it can happen in other ways. For example, person may utilize your card number without your knowledge.

It's not always possible to forestall credit or charge card fraud from happening. But there are a few stairway you can take to do it more than hard for a criminal to capture your card or card numbers and minimise the possibility.


Sign your cards as soon as they arrive.

Carry your cards separately from your wallet, in a zippered compartment, a business card holder, or another small pouch.

Keep a record of your account numbers, their termination dates, and the phone number and computer address of each company in a secure place. Keep an oculus on your card during the transaction, and get it back as quickly as possible.

Void wrong receipts.

Destroy carbons.

Save gross to compare with charge statements.

Open measures promptly and accommodate accounts monthly, just as you would your checking account.

Report any questionable charges promptly to the card issuer.

Notify card companies in advance of a change in address.


Lend your card(s) to anyone.

Leave cards or gross lying around.

Sign a clean receipt. When you subscribe a receipt, draw a line through any clean spaces above the total.

Write your account number on a postcard or the outside of an envelope.

Give out your account number over the phone unless you're making the phone name to a company you cognize is reputable.

Reporting Losings and Fraud If you lose your credit or charge cards or if you recognize they've been lost or stolen, immediately call the issuer(s).

Many companies have got toll-free numbers and 24-hour service to deal with such as emergencies.

You may freely reissue this article provided the author's life stays intact:

Saturday, December 20, 2008

Cheap Credit Cards

Each hebdomad we are bombarded with credit card offers, telling us that this peculiar offer is the best. It is pretty annoying, when we cognize that most of these so called cheap credit cards are nil but cozenages and are not even deserving the clip to look at. The best manner to happen a nice credit card is to collect a listing of the best offers and take the best of them - the best of the best so to say.

Before you can cognize which credit card offer is best for you you, must cognize exactly which credit card you are looking for. So do a listing of requirements, then you can begin to garner information from assorted credit card vendors. The best topographic point to accumulate this information is online. This tin be done by doing a search for ["credit card offers" + review] which also will give you other people’s sentiment about the existent offers. Another or even simpler manner is to check out the offers from suggested and reputable credit card companies.

When you have got collected a few offers, it's clock to travel through them and compare them according to your written requirements. If you haven't already included interest rates and credit card fees on your demand list, you should add these to the comparison criterias as well. You cognize many credit cards are attached with so called 'hidden charges' or charges in ‘small prints'. An illustration of such as a charge is a one-time enrollment fee for new cardholders. Therefore you should analyze the terms very carefully, also the 'small printed' part.

Many credit card companies are also charging a monthly or annual cardholder fee. Then we have got got transaction fees, which is a fee you have to pay each clip you utilize the credit card. These fees changes from company to company and when you compare, it is of import that all costs are included so that you can happen the deal that have the lowest sum cost.

There are some credit cards however, without fees. These are the best credit cards. Though they are hard to happen you can hit some of them, but you have got to read the the application textual matter carefully. You can also inquire inquiries to the card company you look into about all the different sort of fees they have got before you make up one's mind which credit card you desire to travel for. To get a cheap card is all about doing a good preparatory legwork upfront.

Interest rates are also an of import factor for the sum cost of a credit card and should therefore also be studied and compared very carefully. You should look for cards with the lowest possible rate, all other factors equal. I have got seen illustrations of credit card companies that charge more than 20% interest rate, and that is manner too much. The best cards have got interest rates lower than 15%. You should look at the long term interest rates and not introduction offers like lower or no interest rates the first month.

Some of the best credit card companies will even charge you a lower interest or no interest on purchases paid off in less than a certain number of days, in most cases 30 days. Some people are more than concerned about the disbursement bounds instead of what it cost to have got the card. For those with a limited amount of money to spend, the best credit card is the 1 that have the lowest sum cost. If you are among them, expression for concealed fees and interest. These determine the cost of your credit card.

Friday, December 19, 2008

Credit Card Debt: How To Control It

A batch of people pass more than money than they can afford to refund toward their credit card debts. To recover control over your finances and to manage your debt, here are some solutions you can try.

CREATE Type A disbursement PLAN

In many cases, people designing and then lodge to a spending program to get their debt under control. A disbursement program is a usher for how much money you have got and how much money you spend. Sticking to a realistic disbursement program allows you to pay off your debts and salvage for the proverbial rainy day.


Many universities, military bases, credit unions and lodging government operate non-profit-making financial counseling programs. Even though some may be called non-profit, somes fee may be charged for their services.

Creditors may be willing to accept reduced payments if you’re workings with a reputable programme to make a debt repayment plan. When you take a credit counselor, be certain to inquire about fees you will have got to pay and what sort of counseling you’ll receive.

A credit counseling organisation isn’t necessarily legitimate just because it states it’s nonprofit. You may desire to check with the Better Business Agency for any ailments against a counsellor or counseling organization. DECLARING


Bankruptcy is considered as an utmost last vacation spot credit solution. Unlike negative credit information that corset on a credit report for seven years, bankruptcies remain on a credit report for 10 years.

Bankruptcy can do it hard to lease an apartment, purchase a house or a condo, get some types of insurance, get further credit, and, sometimes, get a job. In some cases, bankruptcy may not be an easily available option.


If you’re having problem paying your bills, contact your creditors immediately. State them why it’s hard for you, and seek to work out a realistic modified program that reduces your payments to a more than manageable level.

Don’t delay until your accounts have got been turned over to a debt collector. At this point, it may be too late. Take action immediately and maintain a elaborate record of your conversations and correspondence.


Turning to a business that offers aid in solving debt problems may look like a sensible solution when your measures go unmanageable.

Be cautious. Before you make business with any company, check it out with your local consumer protection agency or the Better Business Agency in the company’s location. One regulation to retrieve is that if a credit repair offer looks too easy or just too good to be true, it probably is too good to be true. And knowing your rights can assist you maneuver clear of rip-offs.

As you seek to take control of your credit card debt, be on the lookout man for ads that offer quick fixes. While advertisements pitch the promise of debt relief, they rarely advert that this relief come ups in the word form of bankruptcy.

Because bankruptcy remains on your credit report for 10 old age and impedes your ability to get credit, it’s of import to inquire for inside information before agreeing to any debt-relief services.It's A good thought to check the information establish in your credit report at least once a year.

Since credit reporting agencies don’t share files, you’ll need to reach each reporting agency to do certain the information about you is correct. The three major credit reporting agencies are: Equifax (1-800-685-1111); Experian (1-888-397-3742); TransUnion (1-800)-888-4213.

Thursday, December 18, 2008

10 Common Credit Card Mistakes

In no particular order, the following are viewed as being the top 10 common credit card mistakes:

1. Applying for a card and limit you cannot afford to repay

Most people have bad debt management skills and are swept away with the fact that they have ‘x’ amount of pounds as their limit. They rarely consider paying the card and have “maxed” the card out in a few months. They then spend years trying to repay the card!

2. Applying for too many cards

Not content with having one credit card that has reached its limit, most of us jump at the chance to apply for a new card as soon as it is offered to us. Then, having learnt nothing from our previous experience, we rush and buy all the things we couldn’t because we had to save money to repay the first card. Suddenly we have twice the trouble!

3. Using the cash advance function

At least with purchases made for goods and services we should get around 50 days interest free credit, but with a cash advance we start to pay interest from Day 1. Using your credit card to cover your day-to-day cash needs is a very costly mistake!

4. Only paying the minimum repayment

Credit card companies love us and it has to be their favorite of the common credit card mistakes, but with credit card interest rates as high as they are, if you are only making the minimum monthly repayment then you should know it’ll take you years to repay the debt and you’ll have repaid the debt many times over in interest payments!

5. Maxing out the card

Another common mistake and one that half the country is at fault of is maxing the card out. If you have maxed your credit card out it’s a sure sign that you are living beyond your means, so what hope have you got of repaying the debt without a radical overhaul of your debt management skills!

6. Late payments

Late payments subject you to extortionate interest rates and set fees, very profitable for the credit card company and a very unfortunate mistake for you to be making!

7. Not checking your statement

A common error when we start to feel the pressure of a debt burden is to start to ignore the fact that the debt exists in the first place. If this happens, the chances are the fees and charges will start to accrue and the next thing you know you are not making the minimum repayments. Suddenly you are the subject of more fees and charges. And so the cycle goes on!

8. Adding a secondary user

Although some may not consider this a mistake, if you add a secondary user to your credit card account you’ve suddenly lost control over the spending on your card – no matter who the person is. Now bills can rack up on your account without your normal controlling self, as they are being transacted by a third party (who you authorise). A credit card company’s dream.

9. Using your card overseas

For every overseas purchase you make you could be subject to fee and a lousy exchange rate. So, even if you are the perfect credit card customer and pay your bill in full and on time, suddenly the card issuer is making money out of you!

10. Not reading the credit card agreement

In your haste to get a credit card you have not read the terms and conditions of the agreement and so you are not aware that if you act in a certain way or do something you should not, then you are likely to be paying for it. But the real reason why this is on of the common credit card mistakes that issuers love to see is because if you don’t read the agreement carefully they can charge you for additionals you may have been able to opt out of – such as credit card insurance (a big earner for card issuers!).

Wednesday, December 17, 2008

Compare Credit Card Offers and Reward Yourself

Here's a simple system on how to pay zero interest and get dozens of free stuff. Almost everyone utilizes credit cards. But only a few thousand people out there take advantage of what the credit card industry is really offering.

First thing a individual needs to make to switch the credit card game in your favour is store for the right card. Bash you desire a card who gives you cash back or make you travel and desire airline points or hotel points? There are cards that volition direct you gift catalogues with everything from piece of furniture to watches.

The first measure is shopping for a card this tin be done by going to There is a dislocation of all the cards and you can pick from Visa, Mastercard, Discover Card, and American Express.

The adjacent thing to make after you have got your card is to get a short ton of points without paying interest. All you have got to make is expression at what you are already paying for. Your paying car insurance, groceries, gas, cable,electric,shopping,movies,and even going out to eat. You probably paying for alot of these things from your debit entry card or a check that gives you zero reward points. What you need to make instead of authorship a check to these measures you need to charge them on your new card. Then travel home and compose a check weekly to the credit card. All you make is maintain your reciepts of things you would have got normally paid for from your checking account and direct the check to the credit card instead.

Your not disbursement more money but the same. Your just redistributing how you pay for it. In the mean value clip you could be earning thousands of free points for material throughout the year. Why wouldn't you take advantage of this?

So spell store for your card and get started. Again this website gives you the dislocation and reappraisals of dozens of credit cards.

Tuesday, December 16, 2008

All About College Credit Cards

College credit cards are the credit cards that have got been specially designed for college students. College credit cards are more than popularly known as student credit cards. College credit cards allow the students to undergo the benefits of credit cards much earlier in their life. Through college credit cards, the college students are able to learn more than about credit cards and their use. In fact, for most of the students, their college credit card is their first credit card that Acts as a gateway to the human race of credit cards. Some other students might have got previously used supplementary credit cards linked to their father’s credit card account; however, for such as students too, their college credit card is the first 1 that is truly theirs.

College credit cards are not very different from other types of credit cards in the basic sense; they work in the same manner as any credit card would. However, there are some differences, which basically originate from the fact that college credit cards are used by people who have got no anterior experience with credit cards and who perhaps don’t understand the conception of credit cards completely. Hence, the credit card provider is at hazard with issuing credit cards (college credit cards) to such as people whom he is not certain about. Most of the students don’t have got a credit history either. In such as a case, the provider of college credit card cannot be certain of receiving the credit card measure payments in clip (and even receiving them at all). To counter such as risks, the provider of college credit card necessitates the parent of the student to co-sign the college credit card application word form as a guarantee.

Moreover, the credit bounds on college credit cards is generally around $500-$1000 per month, which is lower than what it is for other credit cards (this credit bounds is generally sufficient to fulfil the typical needs of a student). Another hazard extenuation instrument used by the college credit card providers is the interest rate or APR. The APR on college credit cards is generally higher than that for other credit cards. Again, this is done to deter the students from overspending on their college credit card (and finally not being able to pay their credit card bills).

However, if we were to look at these inflictions in a positive sense, we would happen that these are actually in favor of the student (who is still getting trained to take on the existent human race of credit cards). Moreover, college credit cards also assist the students in establishing a (good) credit history which is another of import benefit that goes convenient when the student needs any type of loan at a future stage in his/her life.

So, college credit cards are really something that every student should see going for.

Sunday, December 14, 2008

Do I Need That Credit Card?

Nowadays almost everyone have one, almost everyone have used one and many more than are looking to change theirs. What are they? The reply would be a credit card.

You might inquire yourself make I really need a credit card?

Credit cards have got many advantages, the first 1 being that they give you the extravagance of bargain now, wage later. Avid shoppers can even get a number of inducements owed to redeemable reward points, free air miles, cash back on purchases and more, all through a reward credit card.


The internet have changed the manner retail merchants sell, add to it the extravagance of credit card usage and what you get is the complete convenience of shopping directly from the comfortableness of home. The credit card company should cover you and you will not be held apt for fraudulent usage of your credit card online. You should check the terms and statuses of your credit card understanding for these details.


Moreover, you can do purchases using your credit card when you travel abroad without having to care about the fusses of currency exchange because that is for your credit card to believe about. Plus many credit cards offer payment protection. A major drawback of this would be that it will cost you extra every clip that you utilize the card abroad, normally a level rate of around 3% on the transaction cost will be added to your credit card balance.


Credit cards turn out to be a blessing when you believe of emergency situations. Supreme Being forbid, you ran into with an accident. You make not have got adequate money at that moment. What will you do? Wait for an angel? Well, you make not need that. You can always trust on your credit card and pay for those expenses. Moreover, there are some credit cards that supply you insurance.

Affinity Cards

There are also credit cards through which you can forward money to your favourite charity or organisation you are affiliated to and desire to lend monetarily. Thus, the more than than you will pass through your chemical attraction card the more money will travel to your affiliate.

People wrongly impeach credit cards of making spend-alls out of them. However, this wonderment can actually assist you salvage a lot. Moreover, if you have got bad credit history a credit detergent builder merchandise like unsecured credit card or bad credit- credit card can actually assist you payback your debt and construct back good credit rating.

Saturday, December 13, 2008

Saving Money & Building Credit: Two Things You MUST Do in Your Financial Life

If you’ve just graduated this twelvemonth and are out on your ain for the first time, congratulations. If you’re not headed back to grade school, report cards and classes are behind you...but only screen of. Once you’re out of school, you’ll be ‘graded’ for the remainder of your life—but this clip the bet can be much higher. How much money you have got in the bank (and other investments) and how high your credit score is can determine which financial chances (like owning a house or purchasing a car) you’ll be able to do. Fail on these two counts and you’ll end up inch the company of most people who have got no savings, no home ownership, no luxuries, and no retirement to number on.

But you’re in a terrific topographic point right now for making all the best things happen: salvage money so you can afford the house or car, the luxuries, and the retirement you want...and encouragement your credit score as high as possible so you can get great rates on that house or car, get the occupation you desire (yes, many employers look at credit scores to see how responsible you are), and be able to take advantage of tons of financial chances down the road.

Because these two things are of import to your financial health, and because it would be impossible to touch on every important point you need to cognize about in one article, you’ll be hearing about them often in your monthly Doses of Reality. In this issue, we’ll focusing on your credit score.

So for starters, you need to cognize where you stand up credit-wise. You need a transcript of your credit report and score so you can get an thought of what you’ll need to make to increase your score as high and as quickly as possible. Scores don’t change very quickly, so now is the clip to happen out where you’re starting from and get working on improvements so you’ll be ready when you desire to purchase a car, a home, or even get or change occupations to one that mightiness take a peep at your score to see ‘what sort of individual you are.’ Start with a credit reporting site—it’s best to get reports from all three major credit reporting agencies because when a possible lender looks at your credit, they look at all three (the scores will be different for each, since their criteria are different for determining scores), and they’ll come up up with some type of concerted or average score to determine which interest rate they’ll offer you for your car or home purchase—the better the score, the lower the interest rate you can get. [see the nexus at the end of this article for the fastest path to a good credit reporting site]

A great manner to get started if you have got no credit history yet is a prepaid credit card. With these, you set the money up and then travel shopping. You might set $250 in your account, usage the card for groceries, and ante up another $250 (or whatever amount you choose) when you’re about to run out. These are perfect for people with no or very bad credit—you’re guaranteed to get the card and can begin edifice a credit history immediately. Then, after a couple old age of handling that card responsibly, you should measure up for a ‘real’ credit card.

If you have got only a small credit history built up (maybe from using one of those prepaid cards), your best topographic point to travel adjacent is to get a credit card with a low credit limit, and preferably no annual fee. Use it for lone a few purchases each calendar month and pay it off when the statement come ups in the mail. Lenders will be looking at your credit report for the length of clip you’ve had a credit card as well as whether you pay on time.

If you maintain your balance each calendar month well below your limit, that’s good, too, because lenders don’t desire to see you maxed out. The Discover card is a good 1 to begin with...their student card have no annual fee and you get that discount at the end of the twelvemonth that they’re celebrated for. If you can’t measure up as a student any more, store around and happen a card that volition work for you—keeping in head that if you’re going to pay it off every calendar month (and you definitely should!), the annual fee is more than than of import than the interest rate. Go for a card with no fee, wage it every month, and that credit will cost you nil at all, but will hike your score every calendar calendar month you manage it responsibly!

To happen golf course for these credit cards, credit reports, and other financial helps, see

Thursday, December 11, 2008

Secured Vs. Unsecured Credit Cards - What's The Difference?

Many consumers have got a spot of confusion when it come ups to distinctive a secured credit card from an unsecured credit card. They both carry a trade name logotype from one of the major credit card companies and they both tin be used anywhere that major credit cards are accepted. It is the buttocks the scene financial activity that determines the difference between a secured and an unsecured credit card.

A secured credit card is a guaranteed VISA or MasterCard that have been secured by a sedimentation to the issuer's bank. Generally, you must lodge an amount, ranging from $300 to $5000, in a low-interest redemptive account or cadmium to secure the credit card.

You then have a credit line for up to 100 percent of your account balance. Each creditor have its ain demands for how much you can lodge for your credit line. The creditor issues you a credit card by using your sedimentation as security.

On the other hand, an unsecured credit cards offer just that -credit. When you do a purchase or retreat cash (usually called a cash advance), finances are drawn from your "line of credit." You pay back the amount you borrowed or "charged" each month, or carry over to the adjacent calendar calendar month (revolve) a certain amount that was borrowed and you are assessed an interest charge.

You are then responsible to pay the interest charge as well. Credit cards carry a trade name logotype (e.g., Visa, MasterCard, American Express, etc.) and are accepted by participating merchants. When you utilize your credit card, the transaction necessitates a signature.

Determining what type of credit card is best for you will depend on your personal budgeting and disbursement wonts as well as the status of your credit score. People with low credit scores usually have got a better opportunity at obtaining a secured credit card over an unsecured credit card.

Note: This article may be freely reproduced as long as the writers bio paragraph at the underside of this article is included, the article is published “as is” (unedited) and all URL’s are made active hyperlinks with no syntax changes.

Wednesday, December 10, 2008

Low APR Credit Cards

Many credit card companies utilize the term low APR to advance their credit card offers. But how make you cognize if the card you are applying for is really a low APR credit card? To determine whether this is accurate or not, you're going to have got to look at the mulct black and white of these claims.

Here is some basic interest rate information to assist you determine if a "low APR credit card" is really "high interest rate credit rip-off".

Keep in head that interest rates are variable. Credit card rates are put by adding a spread, or margin, to a alkali rate. Your alkali rate is often a widely used index rate, which is almost always a rate that changes periodically, without warning and for no reason.

The spreading that is added to cipher your rate depends on your credit history. If you pay your measures consistently and on time, the spreading may be as few as 2 or 3 percentage points. If your credit history uncovers that you do late payments, or have got too much debt, the spreading may be 5 or 6 percentage points or more.

The advertised rate on a credit card is often the card's simple interest rate. The effectual interest rate, however, is your true cost of borrowing and includes annual fees you pay to utilize the card. The compounded interest rate is a better barometer of your effectual interest rate. For example, if your card have a rate of 12%, your monthly rate would be 1%. Because credit card interest is compounded monthly, the effectual annual interest rate on a 12% simple-rate card is 12.68%. By doing a small research, you could salvage yourself a batch of money in interest in the long run.

Note: This article may be freely reproduced as long as the writers bio paragraph at the underside of this article is included, the article is published “as is” (unedited) and all URL’s are made active hyperlinks with no syntax changes.

Tuesday, December 09, 2008

Do You Want to Get a New Credit Card at a Great Rate?

1) Make your homework. Applying for and getting approved for a credit card is nil more than legwork. Credit card contracts can sometimes incorporate burdensome terms that mightiness do you sorry that you signed up for the new card that you did. Read the mulct black and white carefully. If a deal looks to good to be true, it just might be. Credit cards can be a great manner to finance your purchases, but do certain it's not at such as an disbursal that you stop up paying for a long clip afterward.

2) Read about the APR. The APR stand ups for “annual percentage rate”. Yes, the APR of a credit card is of import no matter what people state you. A low APR for a credit card is more than critical than you think. When you subscribe up for your new card, you probably are thinking that “hey, all Iodine never lose a payment so who cares what the APR is?” The fact of the matter is, disbursals come up up. Unexpected disbursals that you have got to pay for no matter what. If your credit card's APR is low and when those disbursals arise, you will be in a better financial place when you pay it off. You would rather pay off your somes credit card's 4% on $1000 than 15% on $1000. This tin do a human race of difference.

3) Compare offers. Not all credit card offers are made the same. All credit cards that you see will look to be physically similar (made out of plastic), but these credit cards can often be human races apart. Some offer reward points, sky miles, cash back, and fillip dividends, while most offer nil at all. If you are going to pick a card, do certain you get the most out of it you can. Determination out later that you could have got had 50,000 Sky miles when you actually got none can be quite a surprise. Compare offers, compare banks, and get the best credit card deal you can.

Sunday, December 07, 2008

Credit Card Insurance

A word of warning about Credit card repayment protection schemes

The people who sell you the policy and who take out your monthly payment for ‘card protection’ are not always (in fact, often aren’t) the people who you will be dealing with in the event of a claim.

So be careful.

I took out my credit card protection cover last November (2004). I merrily watched the monthly payments being taken up to date. I recently made a claim. ) I had a heart attack and had to be off work for 8 weeks) I sent off for the claim forms, I sent them back, together with doctor’s certificate; and waited. I eventually got a request from the insurance company asking me to prove that I was in work for the 6 months prior to taking out the insurance. What??? You may ask! Why? Well I called them and asked them – Why? The answer was that it was a ‘condition of the policy’ that I had to have been in employment for the six months up to the time I took out the policy. ‘Why was ~I not asked for this information when I took out the policy? I asked. The answer: ‘You will have to ask your credit card company that, we just handle the claims. No amount of indignance of questioning got me a sensible response. I put the phone down in disgust. After all, My monthly payments were accepted with no quibble at all. Nobody asked me if I was in employment for the preceding six months when I signed on the dotted line for ‘payment protection’.

I decided to call the credit card company and all I got was an automated machine asking me for my sixteen-digit account number … ho hum. Been here before when I was trying to get them to send me out the claim form. I put the phone down.

Be warned. All is not what it seems to be. These guys will fall over themselves to sell you the payment protection. But you wait until you need to claim on it. It’s a different story then.

Don’t say I didn’t tell you …

Friday, December 05, 2008

Easy Tips for Your Late Credit Card Payments

There are three grounds that you might have got missed a payment on your credit card: either you can’t afford to pay, the payment didn’t get there in clip or you just apparent forgot. For whatever reason, there’s 1 thing you need to do, and quickly – get on the phone.

Then, apologise like you’ve never apologised before. Don’t panic, stay calm, but do it clear to the client service representative that you’re very sorry. State that things like this never go on to you. If you just forgot, then state the truth about what happened. But if you can’t afford to pay, then you should state so too.

You will be surprised at how sympathetic credit card companies can be if you phone and apologise. After all, the reasonable 1s desire to maintain you paying interest to them for a long clip to come, so it’s not really in their interest to penalize you.

Remember to demo your grasp if they allow you off. Promise that it won’t go on again. Whatever you do, don’t get angry or frustrated. You need their good will and to be in their good books.

However, if deemed necessary, you may also desire to demo that you are willing to transfer your balance elsewhere if they won’t allow you off this 1 mistake. Credit card companies will usually be more than accommodating to your petition once you make this known.

You need to do everything you can to carry them not to add your late payment to your credit report. Any negativeness in your credit report may adversely impact your applications for any credit. Remember that any late payment can be a achromatic grade against your name for as long as 10 years.

On the other hand, if the worst haps and it makes get onto your credit report, don’t concern excessively. As long as there’s only one late payment in a twelvemonth or so, it doesn’t matter too much. It’s the people who consistently pay late who get the truly awful credit ratings.

In the future, retrieve to do payments early. This travels especially for the people whose payments didn’t do it in time. It is just not prudent to wait until the twenty-four hours before the deadline to do your credit card payment. Many things can travel incorrect at the last minute.

In a nutshell, it’s generally a bad thought to allow measures of any sort stack up until you get around to them. Reappraisal your measures regularly, wage on clip and you’ll unrecorded a much less nerve-racking life.

Thursday, December 04, 2008

Comparing Credit Cards

Like any merchandise, you need to compare credit cards too before you actually make up one's mind on which one to travel for. The choice of a credit card should not be based just on what is good, since there is nil like a good credit card. Neither should it be based on the recommendations from a friend. The credit card that fulfils your needs is the 1 which is good for you. Something which fulfils person else’s need would not necessarily be good for you since everyone have their ain needs. Moreover, make not get bowled over by all the offers being tally by a peculiar credit card. A batch of them are just selling tactics and might not ran into your demands (and you can’t maintain changing credit cards each fortnight).

So the first measure is to measure why you need a credit card. List down all your demands and sort them as primary, secondary and Tertiary needs. Next, search for the credit cards that carry through most of your primary needs. Collect this information in the word form of a listing or a document. Now check these credit cards for what secondary needs they carry through additionally. By this clip you should have got short-listed 2-3 of credit cards (or maybe just one). Finally utilize your Tertiary demands to work out the tie-breaker.

The following are the things that you should see when comparing credit cards:

1. The APR: There is a short term as well as a long term APR. Short term APR is a marketing and sales maneuver and is used to entice new clients into signing-up for the credit card. This APR is offered for a short term just after you sign-up for a credit card. So you should really be looking at the long term APR.

2. Additional benefits: These could be in terms of price reductions at a peculiar store where you shop a batch or discounted car rentals or air menus etc. Again, based on your demands these may or may not be of your interest

3. Annual fees: Of course, this is your expenditure on credit card services and whether you utilize your credit card once in a twelvemonth or 1000 times, you will always have got to pay this fee. So it is a very of import factor indeed.

4. Credit limit: For heavy spenders, this is a very of import feature. Again, check your demands before basing your choice on this feature.

5. Rewards program: Some credit cards offer very attractive rewards program. These are the points you earn for disbursement on your credit card. Once you have got enough points you can swap them for commodity or service and even frequent circular miles.

6. Interest free period: If you are going to overspend on your credit card, the interest free time time period might be of peculiar interest to you.

7. Cash backdown fee/charges: These are the charges you pay when you retreat cash on your credit card. So if you mean to utilize such as a service, this volition be of interest to you.

8. Forex transition rate/fees: For people traveling overseas a lot, foreign currency transition rates will do a batch of sense. Some companies don’t charge a fee but have got pathetic transition rates which counterbalances for the fee.

There could be a batch of different offers and you might be enticed to travel for them. However, the cardinal is not to get lured by such as offers and to lodge to your demands when making a selection.

Tuesday, December 02, 2008

How Credit Card Applications Can Effect Your Credit Score

Thanks to the Internet, it have never been easier to have and submit credit card applications. It can be very alluring to fill up out all of the online word forms available to you. But be careful, it could stop up costing you--consider the following issues before hitting that "send application" again. Be aware of card offers promising "pre-approved" credit. You may be a prospective customer, but you still have got to apply for credit. Each clip you apply, the card company obtains a transcript of your credit report. All these credit card applications count as enquiries that, if concentrated over a short clip period of time, can negatively impact your credit score
With online credit card applications, you should also see the security of your personal credit information. Take Security and privateness concerns seriously. Limit your online application to card companies that usage industry-standard patterns for security and privacy. Look for 128-bit encrypting, which scuffles your application information and necessitates a de-scrambler to read it. Additionally, the card company's Web waiter should utilize Secured Sockets Layer (SSL) technology. Look for an online application on a secure silver screen of the Web site. This is usually identified with a padlock or similar icon, or have a uniform resource locator that gets with the word "https." The company should also clearly state its privateness policy for handling your financial data. -------------------------
Note: This article may be freely reproduced as long as the writers bio paragraph at the underside of this article is included, the article is published “as is” (unedited) and all URL’s are made active hyperlinks with no syntax changes.