Category Archives: Credit Cards

Rewards Credit Card – How to Find the Best One for You

Rewards Credit Card – How to Find the Best One for You

Of all the credit card options available to you today, rewards credit cards are wonderful way to get something back for everything you spend. A rewards credit card comes in many different forms, from a variety of financial institutions, and with a number of reward offer options. In order to find the best one for you, you will need to do a bit of research and put some thought into what will pay off the most for you and your family. The best rewards credit cards will give you back something you really want without doing anything more than spending as you normally do every day.

How Rewards Credit Cards Work

You will find a wide assortment of rewards credit cards. Each one offers a different type of reward, but most of them work in a similar fashion. As you spend money with your credit card, you earn a specific number of points or rewards points per dollar amount. Most companies offer a basic one point per one dollar system.

However, you can also get some bonus points for various transactions. Perhaps your financial institution is affiliated with some large chain stores. You could get bonus points, such as five points per dollar spent, when you do business with these selected merchants.

For another rewards credit card, you might earn mileage toward a vacation. Some airline affiliated cards offer you a certain number of miles per dollar spent. When you accumulate a specific number of miles, you can apply them toward the purchase of a ticket with that airline.

Types of Rewards Cards

Again, the best rewards credit cards are those that suit your lifestyle. If you travel a lot, then an airline rewards credit card would be great for you. You can charge all of your regular purchases and get the airline miles you need to travel any time of year. But be careful that you read the fine print well. Some credit cards give you reward miles that are only good during a certain period of time or to specific destinations.

There are other travel cards that take advantage of Disney packages. You charge your purchases to one of these credit cards and you can earn reward points toward a Disney vacation of your dreams.

Of course, the most common type of rewards credit cards is the one that allows you to use your rewards points in any number of ways. The company that issues your card makes a deal with other merchants, and you can use your points as you would use cash at these merchants. Most of these rewards categories are gift certificates or other set amount items. For example, if you have four hundred reward points, you might be able to get a ten dollar gift certificate at your favorite restaurant, electronics store, or department store.

Still other cards allow you to earn points that transfer into money donated to a charitable cause of your choice. This is a great way to give back to your community or to the world without missing anything in your pocket.

Overall, the best rewards credit cards are those that have a low interest rate and give you back something you can really use.

Select The Right Credit Card Before The Holiday Spending Season Begins

Select The Right Credit Card Before The Holiday Spending Season Begins

With the holiday spending season just around the corner, it’s time to start thinking about strategies for not overspending. Ideally, you’d like to be able to get through to the end of the year buying as little as possible on credit. The average family ends the holiday season having spent between ,000 to ,500. Since most people don’t plan on the expense of their giving, those holiday costs are typically racked up on credit cards, making your new year miserable with money concerns and busted budgets.

If you begin saving a small amount monthly in January, you won’t be tempted to dip into your credit cards. Contributing 0 a month to a Holiday Spending Account will help you save 00 annually (not including accrued interest). Even though we’re months away from the holiday season, setting aside 0 to 0 for the next few months will give you a bit of relief from your credit cards come December.

So start your Holiday Spending Account today. If you don’t end up using it this year, at least it will be in place for the following holiday season.

If you are tempted to buy on credit in addition to starting a Holiday Spending Account you should find the credit card that’s right for you. With the large number of credit cards available today, finding the best credit card can be overwhelming.

Below is a four step process to guide you in selecting the right cards for you.

STEP ONE: Define your objectives. Do you want to lower an interest rate on an existing card? Do you need to keep your business expenses separate from your personal expenses? Clearly define your objectives before moving on to step two.

STEP TWO: Know the different types of cards. While Credit cards are separated into seven different categories, we’ll focus on the following:

• Regular Credit Cards: These are the traditional credit cards. They give you a specific credit limit based on your financial history and then charge you an annual percentage rate on your outstanding balance.

• Rewards Cards: A Regular Card with “bells and whistles”. As an incentive to use the card, you are provided certain rewards depending on how much you charge. These rewards can range from a cash rebate to air travel rewards or benefits at particular retailers. There are many variations and combinations available.

• Business Cards: For business owners and sometimes employees. These are good if you need to separate business from personal expenses. They are basically a Regular card but may also have Rewards features.

STEP THREE: Know the terms of your current cards. If you’ve owned the same card for a while, you’d probably be surprised at how many of the details you’ve forgotten about your card. If you already own credit cards, take a look at the details to see if you can improve in any of the following areas.

- Annual Percentage Rate (APR) on purchases and cash advances
- annual fee
- balance method used for calculating the finance charge
- are there rewards?

Get all the details, then start comparing your existing cards to the alternatives.

STEP FOUR: Choose a card. Now that you know what your objectives are and are familiar with the terms of your current credit as well as the different types of, you are ready to find the best credit card. As a general rule, how often you pay your bills will have a major influence on the type of card you may want to choose. In short, if you carry a balance, consider a credit card with a low APR. If you’re a business owner, you should consider a business card to keep business transactions separate from personal transactions.

Take time this week to review your current credit cards and last year’s holiday spending habits. A little time can save you money and help you begin the New Year in style.

Understanding Credit Card Apr

Understanding Credit Card Apr

If you have a credit card or are looking to get one, it is important that you understand the ins and outs of credit card APR. Credit card APR is the biggest factor in determining how much you pay for your credit card, and so to get the best deal you need to know what it is and how it works. Here is some advice regarding the ins and out of credit card APR.

What is APR?

APR stands for Annual Percentage Rate, and is a measure of the cost of the credit you borrow. The APR is the amount that you pay yearly in interest on the money that you borrow on your credit card.

How much is credit card APR?

Credit card APR can vary massively depending on your financial situation, the type of card you want and the deals on offer. Generally, credit card APR ranges from 10-18%. If you shop around then you will find the best deal for your needs.

How do I find out the APR?

Credit card APR is very easy to find out, and all lenders are required to tell you the APR of a card before you sign up for it. Also, credit cards are generally advertised by the cost of their APR.

Comparing APR

If you are trying to find the best credit card deal, then there are many places online where you can compare the various APR rates of credit cards from different lenders. Although there are other costs involved with credit cards, generally a lower APR is better.

O% APR deals

If you are looking for a credit card, then you might see 0% APR credit card deals advertised. Although many of these deals are not what they seem to be, there really are some great introductory offers to be had. Some cards do offer 3 or 6 months with 0% APR, meaning that you can use your credit without paying any interest during this period. This gives you basically free credit, providing that you pay it back in this time.

Drawbacks of 0% APR

The drawbacks of these deals are that there are often hidden costs involved, such as high fees if you miss payments or go over your credit limit. Also, once the 0% period ends the credit card is generally has a higher APR rate than other cards. To use 0% APR cards to your advantage, you should look for one that has a fairly low rate after the initial period, or swap cards once the 0% period ends. If you invest a little time and effort you can skip from 0% APR to 0% APR on various cards. Of course, this can make you look financially unstable so you should be careful when swapping cards frequently. However, if you understand APR rates then you will be able to find a great credit card deal.

How To Us A One Time Credit Card

How To Us A One Time Credit Card

A lot of people are worried about using their credit cards online and rightfully so. It is no secret that there are many crooks out there in cyber-land whose sole purpose is to cheat as many consumers as possible in order to make a profit. Many of these credit card scams are incredibly sophisticated and hard to detect. So what can the average consumer do to foil their plans? One easy solution is to use one time credit cards for your online purchases.

What is a one time credit card?

There are a couple of names that these one time credit cards go under. You may hear them called controlled payment cards or perhaps called virtual account credit cards. Regardless of what they are called what they do is protect the security of your regular credit cards.

In simple terms, these one time credit cards work by allowing you to make online purchases with a credit card that is linked to your regular credit card account but you do not have to use your actual credit card number (of the regular card) in order to make the purchase. In other words, the one time credit card can act as a buffer or filter between your regular credit card information and the information that you use for an online purchase. It is a very good to protect yourself.

For the most part, a one time credit card number will expire after just one purchase or use. This is not true with all of them so make sure you check before taking on, and get the type that will best suit your needs.

Consumers who may be wondering what the benefit is to these cards should understand that by using a one time credit card, if your information is stolen by some means the one time use card information that they get would be worthless since you have already used the one time use account number associated with that particular card.

Also, because you have not used your regular credit card number you have protected that account from being raided. Anyone who has had the credit card number hacked can attest to how much trouble this causes and how much time it takes to get the problem resolved.

If using a one time credit card seems like a good idea to you and you wish to get one, the first place to check is with your current credit card company. More and more companies are beginning to offer these cards as it protects them as well as you from fraudulent claims and outright theft. Most cards have a toll free number on the back and you should call that number to see if your company if currently offering this service. You may also want to look into the system that PayPal is currently offering.

Almost all consumers who use a one time credit card will be able to better protect their accounts and their personal information from hackers and thieves. They will also be able to shop online with confidence.

College Credit Cards Help Smooth Out Credit Wrinkles

College Credit Cards Help Smooth Out Credit Wrinkles

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

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

Five Steps to Avoid the College Credit Card Debt Trap

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

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

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

- Plan your credit expenses. With college credit cards at your disposal, it is easy to give in to the temptation of impulse purchases. This leads to escalating card balances and higher and higher payments over a long period. It is ALWAYS better to plan purchases on your college credit card for so you can ensure you only build up credit balances that you know you can easily pay off.

- Avoid taking cash advances. The finance charges for these are generally higher than if you were to make credit purchases.

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

The Boon or Bane of College Credit Cards

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

Options To Consolidate Credit Card Debt

Options To Consolidate Credit Card Debt

Consolidate Credit Card Debt

When managing your existing credit cards seems overwhelming, one effective way to ease both the financial and emotional burden of the cards is to consider the option to consolidate credit card debt. There are several ways to consolidate credit card debt, and there are many benefits that arise from the choice to consolidate credit card debt.

First, what does it mean to consolidate credit card debt? One way to consolidate credit card debt is to take out a new personal loan and use the proceeds to pay down your existing credit cards. Another way to consolidate credit card debt is to perform a balance transfer; this involves applying for a new credit card which will allow you to transfer all the balances from your existing cards onto this one new card.

Both of these methods to consolidate credit card debt involve opening an additional unsecured credit account. Another alternative to consolidate credit card debt is to look into borrowing against your home equity. One way to do this is to take out a Home Equity Line of Credit (HELOC), which is credit line against the equity in your home. You would then use the proceeds of this to pay down all of your credit cards. Another way to take advantage of the equity appreciation in your home to consolidate credit card debt is to refinance your existing mortgage. As part of this refinance, you would use some of the proceeds to pay off your existing credit cards. This type of refinance is often called a debt consolidation refinance – you are consolidating both your old mortgage and your existing credit cards into one new mortgage.

Now that you understand how to consolidate credit card debt, it is important to understand the benefits of this strategy.

•Lower Interest Rate: Perhaps the most significant benefit that results when you consolidate credit card debt is that the new account that you are opening will carry a lower interest rate than the rates on the credit cards that you are paying off. This means that it will cost you less over time to pay off your debt. If your credit is strong enough, you may even qualify for a 0% balance transfer, which means that you will not have to pay interest charges on your debt for a set period of time. Moreover, a secured loan (e.g. mortgage refinance, HELOC, etc.) will generally have a lower interest rate than your existing credit cards.

•Faster Repayment Period: Along with saving money over the long term by lowering your interest rate, you will also more than likely be offered a lower monthly payment. This may be very attractive given your current financial situation. However, if you are able to maintain your present monthly payment amount after you consolidate credit card debt, you will be able to pay off the new balance much more quickly than you would have with the old credit cards.

•Ease of One Bill: Another very important benefit that comes with choosing to consolidate credit card debt is the simplicity of having one monthly bill that comes with the new account that you have opened. With multiple credit cards you are receiving multiple bills, more than likely with different payment due dates throughout the month. Not only is this difficult to keep track of, it also increases the likelihood that you will miss a payment and end up paying late fees and incurring higher interest rates. It is easy to see how one monthly bill can lower your stress level considerably!

These are just some of the many attractive reasons to consolidate credit card debt. Be sure to examine all of the financing options available to you before deciding on the right one. You may be eligible for a loan or credit card with very low interest rate relative to what you are paying.

Instant Approval Credit Cards: Instant Credit For Today’s Consumer

Instant Approval Credit Cards: Instant Credit For Today’s Consumer

Customers shopping for a new credit card can avoid waiting long weeks to learn whether or not they have been approved. Instant approval credit cards provide applicants with a fast online response. Online credit card websites offer a variety of instant approval credit cards, allowing customers to choose the card that best fits their financial needs.

How “Instant” are Instant Approval Credit Cards

The “Instant” in instant approval credit cards refers to the minimal waiting period involved. After customers fill out an application online, a reply is sent to their e-mail account within minutes. In some cases, the process may only take seconds.

While the application response time is quick, other steps in the process are not instantaneous. Customers will first want to carefully search for the right credit card. Like most credit cards, instant approval credit cards come in a variety of forms. Some offer a 0% interest rate for the first six to twelve months. Others include cash back bonuses, travel benefits, or rewards programs. Cards with no annual fees are also available. A list of instant approval credit card offers can be found on most credit card websites.

Before applying, it is important to understand the fine print involved. Customers should read through the credit card’s term and conditions. Many companies include charges for late fees. Others have interest rates that are subject to change. By reading through the card’s detailed information, customers will be aware of any included charges.

The Application Process

When filling out an application, customers will be asked for basic personal information. This may include levels of income, housing status and employment details. Certain credit cards require additional information. When the application is sent in, the applicant’s credit report is quickly reviewed. Customers with good to excellent credit have the highest chance of being approved.

Once the application has been approved, the card itself is sent through the mail system. On average, this takes from five to seven business days. When the card arrives, the customer may be asked to call a toll-free number to authorize use of the card. Once this is done, customers are free to use the credit card for purchases.

How Secure are Instant Approval Credit Cards

In some ways, filling out an application online is more secure than sending it in through the mail system. Personal information is sent directly to the appropriate source. Credit card companies and websites take extra measures to ensure security. Most issuers implement the latest data encryption for security purposes.

Before filling out an online application, customers should check the site for safety features. A small padlock and explanation of security terms may be listed. If anything looks questionable, customers are encouraged to investigate further before proceeding with the application process.

When to Apply

With the ease of the Internet, applications can be sent in any time. After careful research, customers can choose the best instant approval credit card for their needs. Once the application is sent in, the response will quickly follow.

Low APR Credit Card Boost Credit Card Sales

Low APR Credit Card Boost Credit Card Sales

Credit card companies are using different marketing strategies to sell their credit cards effectively. Several advantages being offered by credit cards are more likely to attract consumers. However, most potential clients always consider the most essential benefit they could get out of purchasing a credit card. So, the credit card companies greatest come-on for their consumers are the lower credit card APRs. It is a trend that most people would shop for lower credit card APRs because it helps them save bigger amounts of money. In addition, credit cards with higher interest’s rates results to higher monthly bills.

The low APR credit card is one great option for credit card holders in securing their credit in the long run. Lower interest’s rates are equivalent to lower monthly bills. It helps them pay less money when using their card or borrowing money. But never forget that credit card scores make the interest’s rates either higher or lower.

Many consumers are sometimes not informed that this type of credit cards exists. Lower APRs is one of the most important factors that must be considered when looking for a credit card. Most credit card holders only realize the effect of higher interest credit cards after seeing their monthly bills. They will then hurriedly cancel their credit cards so that they can apply for lower credit card APRs. So, to prevent this kind of trouble, always consider different factors when applying for a credit card. Try to avoid committing common mistakes because you didn’t thoroughly looked at the matter beforehand.

There are different variations on credit card APRs value. It could be as low as six percent but it could also be as high as thirty percent. However, most lower credit card APRs are reserved for individuals who have excellent credit history.

Credit card holders should remember that low credit card APRs are the company’s way to boost their sales. There are some companies who are even offering zero percent APRs on their credit cards. But this kind of benefit is only temporarily enjoyed for just within a few months or upon the introductory period. The interest will be increased after the given period. Take note, credit card companies cannot sustain a zero percent APRs on their credit cards. It will jeopardize their business to bankruptcy. Being a consumer, it is your responsibility to know and understand what low credit card APRs really means. Always carefully read fine prints of the company, the conditions and terms of your credit cards, and the duration of availing the lower APRs.

Credit card companies always retain good customers with good credit card history. They are able to offer them a permanent credit card low APR. Another procedure that credit card holders should do is to transfer from one company to another to obtain low APRs as a bonus.

Credit card holders should be cautious because APRs are calculated differently from one company to another. Make sure to compare different APRs before you purchase a particular credit card. Check for the possibility of additional fees in connection with low APRs. Most complacent consumers fail in this process that is why they are also charged with higher fees although they get a low APR credit card.

There are a lot of benefits if you get the right low APR credit card. It will save you good credit deals.

Is It Safe To Use My Credit Card For Online Shopping

Is It Safe To Use My Credit Card For Online Shopping

Shopping online with credit cards has been a dilemma for most people since the early days of the internet. While the internet has evolved and new and improved security measures have been taken to enhance safety, there are still regular cases where things go wrong. With the huge increase in online identity theft, no amount of caution is ever enough, and we must do all we can to protect ourselves and our personal information.

Naturally, it may be easy to simply decide you won’t ever again use a credit card online. While there are other payment methods available on some websites, most online merchants and stores only have the credit card payment option available. With most of the best deals and the tremendous amounts of sales that can be found on the internet, radically abstaining from online purchases with credit cards may significantly hinder the purchases you participate in.

There are a number of ways to protect yourself online, first of all, whenever entering your personal information during an online purchase, be sure you are on a secure page, the most common way of checking this is locating the secure page verifier icon on your internet browser. Nonetheless, just being on a secure page does not guarantee your information won’t be stolen, as you could be the victim of spyware and may have malicious hacking software on your computer, such as a keylogger that keeps track of your every move. Be sure to have a regularly updated anti-virus and spyware software to prevent this from happening. Another point to remember, your credit card company or banking institution will never email or call you with a request for your personal information, do not volunteer this information to anyone, even if they identify themselves as employees of a financial company you deal with, or their email address seems to match the company. Credit card companies do not contact their customers that way, by being aware of the different threats out there, you can help keep your online shopping secure.

Another popular way of shopping online with credit cards is using virtual credit cards. Virtual credit cards help eliminate much of the risk involved in using your credit cards online. Virtual credit cards consist of credit cards numbers that are used a single time, once they have been used, they are no longer valid. Virtual credit card numbers can only be used on the internet; they are not valid for buying in real stores. If a hacker manages to obtain your virtual credit card number, it will not do them any good.

Although virtual credit cards are accepted by many websites, there are a few sites they cannot be used for. Most large credit card companies offer the convenience of virtual credit cards, for more information on how they work and how they can be used, contact your credit card company.

The Ugly Truth Behind Credit Card Debt

The Ugly Truth Behind Credit Card Debt

Credit card debt is one of the leading causes of financial crisis in America and for most part of the world. Indeed, lots of focus by economic experts are geared towards analyzing the benefits or disadvantages posed by the use of credit cards. There are also several factors that are involved with credit card use that could impact the way an individual manages his or her finances.

Is Credit Card Important?

Several individuals are enticed to secure their own credit cards because they are lured by the many advertisement claims about how it can make your transactions a lot easier. While credit cards do offer a few benefits, it is outnumbered by the financial discrepancies caused by owning a credit card.

What many people do not realize is that using credit cards to pay for their transactions or bills actually result in them spending more. In fact, the same can be said even if you are religiously paying your bills on time. So you can just imagine what those credit card owners who aren’t making punctual payments are going through financially!

Credit cards are beneficial in a few instances such as having convenience of extra finances for emergency situations, or safety during travel. However, the interest rates can be quite a burden on some families who earn only minimal income each month. Also, there is the possibility of misuse since it creates a false sense of financial security that often ends up in people having massive credit card debt.

Cash or Credit Card?

Budgeting is an essential aspect of handling your finances. This is often neglected when people have to rely on credit cards to make their purchases. Therefore, some people are on a toss-up between which is the better means of making financial transactions, either on cash or through credit card. Here’s what would help you decide more effectively.

Imagine yourself paying on cash during purchase. There is an emotional attachment to that money, which you have worked hard on earning, that makes you unwilling to let go of it. However, the case is different with using credit cards for purchase. There is none of that emotional attachment and you can simply swipe away without remorse.

Using credit cards to make your purchase instead of paying on cash could end up in you spending about 12 to 18 percent more than the actual value for the item if you paid with actual cash. Imagine how much could have gone onto your savings!

Teenagers and Credit Cards

Credit card companies are targeting teens on their ad campaigns, however it is not a good prospect for parents, especially if you want to teach your kids on how to become responsible with their personal finances. This is more true based on the fact that teenagers have the tendency to be impulsive and with credit card in hand, it creates that false sense of financial security that they can afford anything they desire. Instead, make them work hard to achieve something they want, especially in the material aspects.

Financial Security

If you want to achieve more financial security, credit cards is not the way to go as it exposes you to risks of acquiring credit card debt. But if you are going to opt for one, make sure you have an effective and practical approach at spending. There are a few advantages offered by using credit cards but it does not make an effective replacement for cash whatsoever, unlike most credit card holders believe.