Category Archives: Credit Cards

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.

Get a Credit Card With Bad Credit

Get a Credit Card With Bad Credit

Nowadays it’s easy to get a credit card with bad credit. Several credit card companies are marketing bad credit credit cards to meet the demands of persons who have somehow earned poor credit scores. Whether for reasons of unemployment or medical emergencies or for reckless spending, adverse credit rating is a common feature now. Getting a regular credit card with this sort of background may be difficult. Bad credit cards helps to overcome this difficulty and enjoy the freedom of having a credit card.

Before applying for such a card or getting one, you must make sure to quickly evaluate the reasons of your bad credit. If it has been for circumstances beyond your control like illness, loss of job etc, then there is nothing to do. But, if it has been for spending beyond your means, you must try to avoid repeating it in future. It’s always prudent to work on a budget drawn carefully balancing your likely inputs and outputs. This budget must contain provisions for timely payment on account of your credit card. To get a credit card with bad credit and maintain it, you must always endeavor utmost financial propriety.

When you are thinking to get a credit card with bad credit, you need to do some market research to check out the best offers. Usually, Bad Credit credit cards charge higher interest than regular credit cards. Commonly known as APR or Annual Percentage Rate, this interest may often be around 10%. You must go for a card with a low APR.

As you incur expenditure on your card and payback regularly, you continue to earn a good credit score. Then you can easily switch from a high-interest regime to a low-interest regime. Make sure your card does monthly credit bureau reporting. This helps in reflection of your improving credit rating across all credit monitoring systems and betters your credit worthiness.

Bad Credit credit cards generally come with relatively low credit limits. Often, this acts as an advantage for you. With an automatic restriction on spending, you can better manage your credit and repayment position.

Most Bad Credit credit cards come with annual fees and enrollment fees. You have to do some research to find out the card that has the lowest fees. If you are responsible about your credit and timely repayment management, Bad Credit credit cards can help you to come out of your difficult situation and rebuild your financial net worth.

Perks Of Citibank Credit Card

Perks Of Citibank Credit Card

Citibank credit cards offer a wide range of benefits. Basically, all of it features offer clients with security during emergencies, the advantage of not bringing cash and checks, and improving independence and responsibility in financial management.

Other than these basic perks of credit cards, there are specified benefits the Citibank credit cards have to offer. Here are some of the credit cards and their corresponding perks:

1) Diners club international credit card. This kind of credit card provides you with the decision of your own credit limit. The interest rates would not show on your bill for fifty days. Since this Citibank credit card could be used all around the world, it gives you the privilege of using it within five million companies worldwide. The ATM card could be used anywhere in the world. And lastly, there is no extra fee when the Citibank credit card is lost.

2) The Citibank Gold Card. This kind of Citibank credit card provides you with a higher credit and cash limit. It offers you access on international lounges and airports. It has a strong and secured insurance. And there is no fee when the credit card has been stolen, lost or damaged.

3) Jet Airways Citibank International Gold Card. This kind of credit card allows the cardholder to take advantage of jet privileges and promos on jet miles when you make use of the credit or cash. When you have been approved with this kind of credit card, you will be automatically given a jet airways ride of 1500 miles. Plus, the services and credit card is insured.

4) The Citibank Silver Card. This kind of credit card has several kinds of insurances like personal accidents, baggage and household insurances that would cover up your expenses. There are also occasional discounts on certain stores and zero costing on lost credit cards.

5) The Citibank Woman’s card. This kind of credit card targets the women. It provides women with discounts on jewelry, cosmetics, health products, clothes and many shopping stores. It also provides jewelry insurance and there is no extra fee when the Citibank credit card is lost.

6) Specialty cards. There are Citibank credit cards that provide you specifically with music and book stores usage, gives you an advantage on concerts and movie passes, and could give you discounts on oil transactions. These kinds of credit cards would depend on which you apply for and use regularly.

With those numerous advantages, you will surely wonder how you were able to get along without it.

You Can Get A Credit Card

You Can Get A Credit Card

Believe it or not, even if you have bad credit you will be able to get your very own credit card, albeit it would be a little bit harder than the usual.

The following are tips and advice to help you get a credit card even if you have not so good credit.

Apply small at first

It is a good idea to initially apply for credit cards at small retail shops and stores. Usually, such small companies are a lot more open to giving creditors a chance compared to those large outlets.

Once your application for a credit card is accepted, and once you make a purchase, try – as much as possible – to pay the least minimum amount each month and try to pay on or before the due date.

Take note that if you pay a bit more than the minimum amount required, the interest charge you have to pay will not be as much.

Do not be afraid to go to the bank

It is always a good idea to go to the saving or lending institution of your choice. They could be willing to offer you your own credit card especially if your business is already theirs.

If everything else fails, it is always a good idea to go for a credit card that is secured. This process requires you to maintain, open an account for savings as this will be used as a security for your credit line.

The credit line that will be given to you will actually come from the percentage of your own deposit.

Pay on time every time

In the process of acquiring your own credit card, always remember to continuously pay for all the other bills you have, as scheduled. This saves you the effort and money of paying unnecessary interest charges, surcharges and delayed payment rates.

Do not hog credit cards

It is always advisable to keep not more than two credit cards. One is enough, two is too much and three is just a crowd in your wallet as well as in your head as you have to make a way to pay off any charges incurred on it.

Credit cards make it easy enough to charge anything and everything. It is a temptation on plastic. Take note that having one credit card would make you an easy target for other credit card offers.

Think wise and be smart

Two credit cards are more than enough, with one having a lot larger credit limit and would probably come in handy for any financial emergencies.

It is also best to use credit cards that come from the more generally accepted credit card companies such as Amex, MasterCard, Visa, Discover, etc.

Believe it or not, there are credit cards that do not require you to pay annual fees. Use these credit cards as you will save a lot.

If still denied

If in case you are still denied by a lending institution, the law requires that such an institution tell you the reason why you were denied credit.

Try to request for a copy of your own credit report and check for yourself what the details indicated.

Overspending is not a good idea

Utilize credit cards wisely. Never overspend. Use cards like you would cash, cautiously and wisely. Buy stuff you know you could afford to pay.

All in all, there are a lot of cards which has an interest rate that range anywhere between eighteen percent to twenty one percent.

If you have difficulty paying your monthly balance, you are probably spending more money than you could afford to pay.

What you should know about Airline miles credit cards

What you should know about Airline miles credit cards

Some of the things that you should know about airline miles credit cards may be a little surprising and they may not be to you. One thing that you should know about the airline miles credit cards is that you are going to more than likely need to pay an annual fee to receive the airline miles credit cards. There may be some credit card companies that will not charge you the annual fee if you are using your credit card to purchase your airline tickets.

One of the disadvantages of the airline miles credit cards is that if you do not use your credit cards often it could take you a couple of years to acquire enough points to be able to take a trip with your airline rewards. When it comes down to it you can actually purchase an airline ticket more than once before you actually have enough airline miles so that you are able to take a trip with your miles. There are a few other things that you are going to want to make sure that you are checking out as well with the airline miles credit cards. You should know if there are any seating restrictions, expiration dates, or any black outs that will be assessed to any airline rewards credit card you may choose.

One of the big advantages of the airline miles credit cards is that if you are in need of an airline ticket at the last minute and you have enough points to purchase one you are not going to have to fork out the high cost of a last minute ticket. We all know that the airlines will raise their rates when you are purchasing a ticket at the last minute and when you are going to fly in the high season of the year. One other advantage of the airline miles credit cards is that some of the different credit card companies will give a new card holder bonus miles for becoming a new credit card member.

You are going to want to take your time and check out all the different offers that the credit card companies are going to give you with the airline rewards that they are offering. That way there you are going to defiantly receive the best airline miles credit card that is going to work for what you are in need of.

Student Credit Card 101

Student Credit Card 101

First things first, have you ever wondered how students get to have credit cards? Have you ever asked yourself just how such student credit cards actually work?

Basically, companies that offer credit cards offer student credit cards to a lot of students. This is done via direct marketing or partner marketing. Examples of this method is the MBNA card as well as the LL Bean credit card.

Then, the student cardholder purchases something using the student credit card. A transaction is therefore made at a merchant participant.

This merchant then captures all the data found on the student credit card and acquires credit card approval.

This data transaction is then sent immediately to be processed by the bank merchant for appropriate routing to the bank who will be issuing the settlement.

After which, the merchant is then paid in an average of three working days. The same transaction is also posted at the account of the consumer in three working days as well.

Offers of student credit card varies

Believe it or not, being a student does not mean illegibility to have and own a credit card. The fact of the matter is that there are three student credit card types.

One type of student credit card is the one released by banks. This includes MasterCard, Visa, Discover.

Another type of credit card is the American Express, entertainment and travel cards as well as Diners Club.

There are also cards that are called “house cards.” These types of credit cards that are available to students usually apply in a single store chain, such as the charge card for Sears.

Student credit card account types

Believe it or not, just as there are various student credit cards, there are also varied account types of student credit card.

Included in the basic student credit card terms is the agreement that is revolving. Through this type, a student gets to pay the full monthly amount or partially as based on the card’s balance.

Another type is the charge agreement. This is where a student promises to pay the monthly balance in full. This is so that no interest charges would incur.

Another type of agreement is the installment. This is where a student signs a specific contract that states he should repay a particular amount that is fixed over a particular time period.

Student credit card rights

Believe it or not, student credit cards also come with rights that work for the credit card holder.
Basically, this includes being protected from any unfair discrimination from having credit. The fact of the matter is that credit must never be denied anyone as based on age (legal requirement is one should be 18 years old), sex, racial background, marital status, national origin, religion.

Student credit card agreement

The act which touts Truth in Lending basically require any and all disclosure of fees or interests which could be charged to the student by the issuer of the card.

Just when and how such charges would be applied to the account is and should be explained thoroughly at the back side of the monthly credit card statement.

All in all, a student credit card is a tremendous help for any academic purchases a student might need. Thanks to the options currently available, getting one is really as easy as A-B-C.

Your Credit Cards Can Be Your Financial Undoing

Your Credit Cards Can Be Your Financial Undoing

Credit cards can be a convenience or they can be your financial undoing. It is true that credit cards are convenient, reduce your need to carry cash and as well allow you to purchase bargains on the spot, and save money, that you might not have been able to do otherwise.

As your father or grandmother may have chided you “I am getting wealthy on your savings”. True credit and credit cards can be a boon. Why is it that so many people have trouble with credit cards? Credit cards are a double, or triple edged sword. Why should be careful with credit cards? Credit cards are useful in our society. And yet these financial instruments deserve the same dread and respect that a recovering alcoholic should have about alcohol.

Credit cards can breed mountains of debt for the unwary. It is not only that we live in a society and time of “immediate pleasure”. The refrain may be “Why wait for spring? Why deny yourself. Get it now”. Indeed your grandfather may have told you repeatedly not to buy anything until you have saved the money. Best to wait. Never go into debt.

Never buy anything until you can afford it.

However it is not only our current curse of immediate and flagrant consumption of goods that leads more than a few people into credit card driven financial peril. Go into any major city. Ask for the “center of town” or look for the tallest buildings. Invariably these buildings will be “bank towers” and the offices of major banking institutions. You may well ask yourself that what did these organizations do or produce that they have accumulated and deserve such wealth. It is often said that the casinos in the gambling town of Las Vegas were not built on the winnings of gamblers. So is it with credit cards.

Credit cards are pretty much an essential item today. Go on a trip – you vacation. You may well find that you cannot rent a car without a credit card as collateral. Most hotels as well will almost insist on a credit card imprint on check in.

However the rules are stacked against you in credit cards and their management in your finances. A little exercise. You have $ 900 in your saving account. You move into a new apartment or condo. On sale you find a $ 2000 living room set for $ 100. You figure – I will put the purchase on the card, pay the $ 900 and carry the balance for a month. A small cost of interest for a large saving. However when your credit card bill arrives you notice a very large interest charge. The contract you sign with many credit cards stipulates that if the credit card statement is not payed in full “then interest is charged on the full balance from the date of purchase”. Translation you will pay interest on the full amount of the purchase, and even on other items you bought. Not only will you be charged interest for that month but interest from the actual day you purchased the item. You will not even receive the first interest free period. It may not be fair, you may not like. However these are the rules that you personally signed for when you signed the credit card /s contract /s.

Now it makes sense. Why once people get into trouble with credit cards they never seem to be able to pay off their debts. The debts just seem to grow and skyrocket.

Credit cards and other such financial instruments are both essential and a godsend in today’s world. If you find that you require them and yet want to limit your exposure and vulnerability an option is a prepaid credit card. In essence you are placing a cash savings reserve against future spends. You can only spend what you have in your savings deposit portion of this type of credit card. You can both save for purchases and be limited against overspending both as debt and a source of interest charges. You are limited to charging to the card only to the deposits you have on record with that account.

You cannot overspend the card. Good safety breaks are put on your credit card purchases.

Your Visa, American Express or MasterCard may be wonderful. However they can also cause you a fair amount of trouble and financial troubles along the road of life.

Treat these little pieces of plastic have great power to do you good or cause you great trouble, Treat them with the utmost of respect. .

Apply for a credit card

Apply for a credit card

Should I apply for a credit card and how?

Are you pondering on whether you should apply for a credit card? Well, the answer quite simply is – ‘Yes’ – you should apply for a credit card (this is true for most people). The credit cards seem to have transformed our lives. In fact, one can term credit cards as a revolution. Today, you find ads in TV/newspapers/website/shops and almost anywhere and everywhere; all asking you to apply for a credit card. When you look around, you see that most people have credit cards. In fact, most people have multiple credit cards. Everyone seems to apply for a credit card. So, why should you apply for a credit card?

There are a lot of benefits associated with credit cards; however, the most important benefit is the convenience that they offer. For most people, this is the prime and the sole reason that instigates them to apply for a credit card. This wouldn’t have been the case a few years ago, when not many merchants accepted credit cards. However, today, most merchants do accept credit cards. So, instead of carrying a lot of cash on you (which is both inconvenient and unsafe), you can just carry a small piece of plastic with you. Moreover, you get interest free credit i.e. you don’t have to pay the bills till the next monthly billing cycle. So, you can buy now and pay later (when your salary arrives) – a great reason to apply for a credit card. To add to that, there are certain merchants that offer interest-free instalment payment plan i.e. you can make a big purchase today and pay for it in instalments on your credit card. So credit cards works as instant long term loan too (not just a monthly loan). Yet another reason to apply for a credit card is the discounts on shopping. This is made possible by the tie-ups between credit card companies and the merchants. So credit cards offer many benefits.

There are various ways in which you can apply for a credit card – you can apply for a credit card in person, you can apply for a credit card on the internet and you can apply for a credit card on phone too (by asking the representative to meet you). You will as such be approached by a lot of sales representatives, all asking you to apply for a credit card with their company. To apply for a credit card, you will need to fill-in a credit card application form (which is easy to fill and the representatives of the credit card company will assist you in that). When you apply for a credit card, you basically enter into an agreement with the credit card supplier (the form that you fill when you apply for a credit card is actually an agreement). After you have submitted your application, the credit card company conducts certain checks to determine your credibility; and if everything is fine, you receive the credit card.

So, applying for a credit card is easy and to apply for a credit card or not to apply for a credit card is a matter of personal choice. However, for most people who don’t have any credit card, the recommendation is “Apply for a credit card”.