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Value of a credit card   

Value of a credit card   

Article by alex

Its almost impossible to live without credit card if you have just one. Means you can understand the value of it if you are presently using it.You would be addicted to use it and almost buy things even if the things are of no use to you.Right, so beware unneccassary shopping and use it wisely otherwise it may damage your credit report.

The emergence of electronic age made almost everything possible to people. Determining and curing terminal diseases made convenient, reaching uncharted territories became a possibility, and most of all; everyday life of people is made easy by the technology. We now have more convenient stores, easier means of transportation and a variety of gadgets that makes work and pleasure almost effortless.

When it comes to finances, technology…#34;through efficient banking system and services…#34;has given people better alternatives and options how to manage their finances. Among the so many financial management schemes that emerged, one alternative stands out among the rest…#34;the credit card.

Credit card, especially to working people and those who live very busy lives, has become an ultimate financial “savior.” More than just being a status symbol or an add-on to expensive purses and wallets, credit card has revolutionized the way people spend their money.

But, more than the glamour and the convenience credit card brings, there is much more to this card than most people could ever imagine.

Credit Card 101Before indulging much into the never-ending list of the advantages and disadvantages of having a credit card, it is very important for people to first have a brief realization of what credit card really is in order for them to maximize its potentials.

In layman’s terms, credit card is a card that allows a person to make purchases up to the limit set by the card issuer. One must then pay off the balance in installments with interest payments. Usually, credit card payment per month ranges from the minimum amount set by the bank to entire outstanding balance. And since it is a form of business, the longer the credit card holder wait to pay off his or her entire amount, the more interest pile up.

Since having a credit card is a responsibility, only those people who are of legal age and have the capability to pay off the amount they are going to spend through their credit card, is allowed to have one. Actually, most of the adults in the U.S. use credit card because this is very convenient compared to carrying cash or checks every time they have to purchase something.

It is also equally important to be familiar with the different types of credit cards before you begin to build up credit card balances and to avoid having a nightmare of debt. Since credit cards are indispensable to most consumers, it is a must that they understand the types of card that include charge cards, bankcards, retail cards, gold cards and secured cards. All of these types come in one of two interest rate options…#34;the fixed and variable. Actually, it doesn’t really matter if you decide to have a fixed-rate credit card because the interest rate remains the same. Compared to variable rate cards where rate may be subject to change depends upon the credit card issuer’s discretion, fixed-rate carry higher interest rates. Basically, credit card grantors issue three types of accounts with basic account agreements like the “revolving agreement” a.k.a. Typical Credit Card Account which allows the payer to pay in full monthly or prefer to have partial payments based on outstanding balance. While the Charge Agreement requires the payer to pay the full balance monthly so they won’t have to pay the interest charges, the Installment Agreement, on the other hand, asks the payer to sign a contract to repay a fixed amount of credit in equal payments in definite period of time. Another category of credit card accounts includes the individual and joint accounts where the former asks the individual alone to repay the debt while the latter requires the partners responsible to pay. The common types of credit cards available through banks and other financial institutions also include Standard Credit Cards like Balance Transfer Credit Cards and Low Interest Credit Cards; Credit Cards with Rewards Programs like Airline Miles Credit Cards, Cash Back Credit Cards and Rewards Credit Cards; Credit Cards for Bad Credit like Secured Credit Cards and Prepaid Debit Cards; and Specialty Credit Cards like Business Credit Cards and Student Credit Cards.

Now that you have an idea how many types of credit card there is, it is now time to review your goals before applying for one. Some of the things you should consider is how will you spend with the credit card monthly, if you plan to carry a balance at the end of the month, how much are you willing to pay in annual fees, if you have a strong credit history and is does your credit in need of rehabilitation. Once you have an idea of what you are looking for choose the right credit card for you by researching the information you need that will fit your basic needs. You may also review the credit cards you’ve research and compare them.

Shopping for a credit card?Regardless of the type of credit card you choose, be sure to discuss your specific financial needs with your financial advisor or accountant before applying for any credit card. It is a must that you understand the benefits of having a credit card like safety, valuable consumer protections under the law, and the accessibility and availability of services. The most popular credit cards include Chase Manhattan Bank, Citibank, Bank of America, BankOne, American Express, Discover® Card, First Premier Bank, Advanta, HSBC Bank, and MasterCard Credit Cards.

Although having a credit card is synonymous to invincibility, this may also trigger a person’s thirst for material things and may lead into the temptation of buying something they don’t really need. A credit card bearer should always have in min that having a credit card is a big responsibility. If they don’t use it carefully, these may owe more than they can repay. It can also damage their credit report, and create credit problems that are quite difficult to repair.

About the Author

alex has been writing articles for site http://www.fantasticfreesite.com.To contact alex send email to alexhamish@yahoo.com

chase no interest credit cards

Jamie Diamon, CEO of Chase Bank is a notorious interest rapist whose policy of raising credit card interest rates for no reason is legion. Chase card holders may find themselves working the rest of their lives as “Chase Bank’s Bitch” to keep up the payments on their credit cards. Don’t be a victim.
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Life In Plastic, It’s Fantastic?   

Life In Plastic, It’s Fantastic?   

Article by Hadassah

If you are prepared to look for them you can be sure to come by a good credit card deal, however, you have to make sure that your credit rating and history are up to scratch in order to secure the best deal.

In a society that thrives on material possession, people increasingly use their credit card to purchase every material item that they feel they need in life. Market comparison research reveals that the annual percentage rate on plastic purchases has gone from 16.5% to 17.12% in the last six months.

The credit card companies, aware of the increased growth of spending, have made efforts to cut back on their customers’ spending limits and in so doing have made a tidy profit of over £3bn worth of credit. There seems to be no stopping the charges that people are faced with as a result of using their plastic, and with increases of more than 7% on some cash rates and in some cases, 3% on purchase rates, people are struggling to maintain the upkeep of real necessities, such as household bills. The possibility of obtaining a 0% introductory purchase or balance transfer deal is becoming an ever more attractive prospect.

Consumers are advised to shop around for the optimum credit card deal as research shows that there have been 22 purchase rates, 15 cash rate hikes and over 30 increases in charges, including balance transfer and cash withdrawal fees as well as charges for foreign usage implemented in the last few months alone. Providers are tightening their credit card criteria, which has led to a reduction in the number of applications that are being accepted. However, those with an excellent credit record will find themselves still in the running for the best available financial deals.

According to Moneyfacts, the 58 cards of 2006 offering 0% introductory purchase rates for up to 10 months and the 82 offering 0% balance transfer deals for up to a year were a lot easier to obtain, however, in the current economical climate credit does not come cheap and though there are more cards available with longer durations the underlying message is not good. Credit card companies are in a desperate situation and are thus clawing for ways of attracting new customers in order to keep up with the competition that plagues the financial market.

When it comes to looking for a new credit card, make sure you do your homework. Assess and compare the various APRs which are applicable in relation to the common usage of your card, and how best it will protect your needs in a period of economic downturn and disarray. Settle all bills and accounts as well as closing old unused credit card accounts prior to setting up a new contract. Before you obtain a new credit card deal, make sure that your credit history checks out and that there aren’t going to be any nasty surprises down the road; you can check your credit rating with any of the three main credit reference agencies in the UK, Experian, Equifax and CallCredit, all three are accessible online.

About the Author

Hadassah is an author of several articles pertaining to Credit Cards. He is known for his expertise on the subject and on other Business and Finance related articles.

0 apr credit cards

Balance Transfer Disasters   

Balance Transfer Disasters   

Article by peter Kenny

There has been a rapid growth in the availability of zero per cent rates in the credit card industry. These have been caused by the combination of very low national interest rates, and the injection of fierce competition from American lenders such as Capital One. The UK credit card industry is now recognised as one of the most sophisticated and competitive credit card markets in the world.

One of the most popular innovations in the past number of years has been the introduction of the zero per cent balance transfer. This has revolutionised the finances for many indebted customers. How it works is if you have very high interest charges on one of you’re out standing credit card balances, then you can transfer it to a new credit card. In exchange for getting your business in this way, the new credit card provider will give you a zero per cent interest rate on the sum transferred for a period of usually, six to nine months.

While taking advantage of these zero per cent offers is highly advisable, as it can save you literally hundreds on interest charges, there are still precautions that you should take if you wish to avoid some costly mistakes. The first thing to realise is that there are different types of zero percent. What you will most likely come into contact with is zero per cent on balance transfers or zero per cent on purchases. You must not confuse the two.

If you have zero per cent on balance transfers then that will not mean you have zero per cent on purchases, so any purchases you make during your zero per cent period will not be at zero per cent but at your standard rate. This can be very important if we look at the situation using an example.

Supposing you have five thousand pounds on a credit card a 15%. If you transfer this to a card that gives you 0% on balance transfers for nine months you will save hundreds on interest. However, supposing the new card has a standard rate of 15% also. Now, if you have your five thousand on it safely at 0%, but suppose you make one hundred pounds worth of purchases. And then you pay back one hundred pounds; the one hundred you pay back will be applied to the first one hundred of the five thousand-balance transfers. This will leave you with 4,900 left at zero per cent on the balance transfer, and 100 as a purchase that attracts the standard 15%.

In this way you can quickly see how a zero per cent balance transfer can become a 15% purchases balance.

About the Author

Peter Kenny is a writer for creditcards-gbFor additional articles and an extensive resource for everything about credit cards, please visit us at http://www.creditcards-gb.co.uk and http://www.creditcards2go4.com

0 percent balance transfer cards

Everything About CitiBusiness PremierPass Card   

Everything About CitiBusiness PremierPass Card   

Article by Richard Gilliland

The Citibank offers a wide variety of credit cards, which suit the financial requirements of different categories of people and the needs. One such card, the CitiBusiness PremierPass Card that rewards the card-users with valuable points, has proved to be a great boon for business travelers who need to travel now and then.

Card Features

The CitiBusiness PremierPass Card offers an introductory annul percentage rate of 0% for balance transfers only (the offer continues for the first 9 months). For other expenses and transactions, the APR stands at a reasonable 14.24%.

You will be required to pay annually towards card fee, which is quite low for a reward card. Of course, the annual fee is exempted for the first year.

Reward Program

The reward program of the credit card actually entails the point system. You earn literally for each purchase you make with the card. Thus, the first purchase with the card earns you 15000 bonus ‘Thank-You’ points, which are redeemable for a 0 gift certificate. The points you gather thereafter can be used for free air travels, for free purchase of merchandise, for free hotel stays, for buying gift certificates, et al.

You will earn three points for every dollar you spend for buying any business equipments and one point for every other purchase. Suppose you are traveling by air you will earn one point for each mile you travel.

The best part of the reward program is that you will have complete freedom. Thus, you can choose any airline ticket and will not even have any blackout dates; you can travel wherever and whenever your need arises.

Free and unlimited companion travel is another highlight of the reward program.

The Fringe Benefits

The card not only helps you save precious penny on travel, it also gives your business a fresh start with its rebates and free offers on business equipment. Side by side, the personal business assistant service speeds up your job with proper and adequate information. It helps by making traveling arrangements and even locates referrals for administrative and marketing purposes.

The CitiBusiness PremierPass Card benefits you and your family with a 00000 travel accident insurance coverage; you will also enjoy other benefits like auto rental insurance, travel and emergency assistance services, legal referral services, medical referral services and many similar services.

You will also enjoy online banking options, damage protection, identity theft solutions and theft protection with this card. When you log into your account, you can avail the expert advices provided in the business columns.

The card also provides emergency card and cash replacement, discounts/rebates on products and services within the Citigroup network and financial statements at the end of the year or quarterly.

About the Author

Richard Gilliland Provides Expert opinions and reviews to help you Compare and Apply for a Credit Card – Compare Credit Card Offers with Credit-Wisdom.com – Unraveling the best in Personal and Business Credit Cards.

0 apr credit cards

Police have identified the woman who used stolen credit cards to buy thousands of dollars worth of gift cards. Rebecca Zolnay faces 40 criminal charges of grand theft, fraudulent use of a credit card, organized scheme to defraud, possession of a lost or stolen credit card and exploitation of the elderly. If you have information about Zolany’s whereabouts, call Crime Stoppers of Palm Beach County at (800) 458-TIPS.