Do We Really Need Credit Cards?
Do We Really Need Credit Cards?
Article by Uma A Ilango
DO WE REALLY NEED CREDIT CARDS?
Do we really need credit cards? Surfing the internet and interviewing my friends and family for an answer to this question, I came across a multitude of replies which generally moved towards the direction of a resounding NO. The only ones who were advocating the necessity of credit cards seemed to be credit card companies and banks. I’ve taken an objective stand and drawn from my personal experience to provide you with a non-biased and an informative answer. In 2007, about 73% of American families had credit cards. Out of every 10 families with credit cards, 8 had credit card debts. That’s almost a whopping 180 million people in credit card debt. Please refer to http://www.creditcards.com for further information on the statistics.
It is no wonder that there was such a resounding negative answer to the necessity of credit cards. Scores of people all over the world are swearing to cut up their credit cards once they clear their credit card debts and advising anyone they see to never fall into the trap of signing up for a credit card. They even go far enough to proclaim that credit cards are evil and a vice. However, the nagging question is if credit cards were really all that unnecessary and evil, why do so many millions of people sign up for them in the first place? According to my understanding, it is mainly due to some serious misconceptions. Let us look at them first.
The most common misconception is that a credit card is required to build a good credit history. This is one of the common reasons given when encouraging people as young as 18 to sign up for credit cards in college. However, all you need to do to build a good credit history is to pay all your bills promptly. This can be utility bills or your rent. It need not be a credit card bill. People also believe that you need credit cards in case of emergencies. Honestly, no financial advisor will ask you to sign up for a credit card in case of emergencies. Responsible financial planning techniques involve saving six to eight months of expenses for emergencies, not owning a credit card.
While it is true that you can’t be carrying around large amount of cash and you may find yourself needing a Visa or MasterCard when bank cards are not accepted, the solution need not be a credit card. It can be a debit card. Debit cards come as Visa or MasterCard and therefore, can be used wherever credit cards are accepted. You can also use these debit cards for phone or online transactions. They are as universally accepted as credit cards and can be as convenient. Although I have just debunked some common reasons provided for getting a credit card, I would like to add some good of credit card by drawing from my personal experience over a period of about 9 years now.
I started work as a teacher right after university. I found myself suddenly swamped with the need to purchase suitable formal clothes, shoes and bags for classroom teaching and sportswear for physical education and extracurricular activities. I did not have the money in my savings to buy what I needed. I signed up for a low interest credit card with no annual fees. I purchased what I needed and paid up for them over the next three months. Besides getting a loan from someone, credit card was a good solution for me at a time that I was starting to build myself financially. It helped me stretch my dollars the 3 months. A few years later, I decided to quit my job and do my Masters degree. During this period, I decided to work as a private educator and opened up my own business. Although I had saved up substantially by that time, I did not want to use it in case I did not make much money in my business. As my cash inflow was not fixed, I used my credit card to invest in items such as tables, chairs and teaching materials. Once again, having the credit in hand helped me stay confident as independent. Once again, I paid it off in a matter of 5 months.
Despite owning the card for a couple of years by then, I did not start to despise it like the majority of credit card holders. I did not get myself into debts and cut up my card. On the contrary, I was quite thankful for such a handy financial tool in times of need. Recently after my wedding, I got my husband and myself a new credit card – one with a low interest rate, low annual fees and a really good rewards program. We charge all our bills to that card, including utilities, grocery and shopping. Although we are sent monthly statements, my husband and I keep track of our expenses charged to the card on a weekly basis. This ensures that we never go above our monthly budget and will never end up spending beyond our means.
Once again, instead of finding ourselves cursing our credit card for financial difficulties, we are loving it for making so many things simpler for us. It is so easy to track every bill in one statement. It also makes our monthly bookkeeping process a breeze. Furthermore, we also get discounts at many outlets and petrol stations for using our credit card. To top it all, we get rewards points that we exchange for spa treatments and movie tickets. In response to the people who hate credit cards, I’d say it really isn’t the fault of a knife if it is used to hurt someone. The problem has never been the credit cards but the misuse of credit cards by people. If you had been lured into getting a credit card by the misconceptions, then switch your financial strategy to one that suits your money management style. If you had gotten yourself a bad deal with high interest rates and costs, learn what to look out for when searching for good credit card deals, do an extensive research and read the fine print conscientiously.
So, do you really need credit cards? To people who may not be able to control their misuse of the buying power offered by credit cards, my answer is no. If you have a tendency to buy impulsively and overspend, stick to debit cards and cash. Be honest with yourself when identifying your money managing style. As for those who exercise excellent money management as well as self control, the answer is still a no. You do not really need credit cards. However, it is definitely a good financial tool that can benefit in many ways other than just financially.
About the Author
Uma Ilango is a programmer from profession. She writes regulary at. Thousands of new articles are added every month.
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Categories: 0% Interest Credit Cards Tags: Cards , Credit, Need, really
A Primer on Credit cards instant decision
A Primer on instant decision credit card
Article by Julia
Kukiewicz
process of applying for a credit card can often be a long time.
Once the form has been completed (a tedious task in itself), consumers are often left to see if they have taken for weeks, how much they do not have time to complete the process. For this reason, it is becoming increasingly popular to compare credit cards for the immediate decision to take, especially for consumers with spotless credit. instant decision credit cards have the advantage of including a number of standard types of credit cards. For example, some cards 0% balance transfer credit with instant decision-making, could save those who pay high interest debt with other credit cards money available long term. Finally, because the instant decision credit cards tend to use the major credit bureaus – Equifax how – to make decisions, it may be easier to predict the decision for the lender, as with a request of traditional credit card. This is because consumers are able to examine the credit reports themselves. Of course it’s not as fair as possible a system for consumers, for the credit they are entitled, before the potentially harmful applications in the first place, but there is a gap interesting. The process of “instant” decision is in application forms online by a bank or building society secure servers to check the creditworthiness of the applicant, in minutes. The applicant’s personal data is strongly encrypted – Shield your data against piracy. Compare Successful applicants for credit cards are usually over 18, as voters, with a UK bank account and perfect functioning condition of credit. For this reason, the instant decision credit cards are not – as is sometimes said – a quick way for people with bad credit to borrow money quickly and wisely too bad. Can In fact, since dismissed the applications for credit cards have a negative impact on your credit report Instant credit cards should only be taken by those who are ready adjustment criteria established for the purposes of credit card considering their application for more than enough. Overall, even if the application is for credit card instant decision, consumers should simply be aware that the lack of preparation – in particular to ensure that they meet the lending criteria – can turn around. However, credit cards instant decision of a wide range of types of credit cards are covered and a good budget choice for some consumers.About the Author
Kukiewicz Julia is a writer for the site news and reviews for comparing credit cards online. The site offers tools to compare to help consumers, credit cards instant decision.
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American Express Credit Card Starwood Preferred Guest
American Express Starwood Preferred Guest Credit Card
Article by Kenneth Wade
American Express and Starwood Hotels & Resorts Worldwide, Inc. introduced the Starwood Preferred Guest Business Credit Card for small businesses, and improving Starwood Preferred Guest Credit Card for consumers.
You can use rewards holds more benefits and richer, which makes it easier than ever for consumers and small business owners now, free nights at Starwood hotels in more than 825 stations and the world and may award flights with more than 30 airline partners. Characteristics of Credit Card:10000 Starpoints first purchase? sufficient for up to three free nights (1)
Double Starpoints for stays at participating Starwood Hotels & Resorts and purchases at select Starwood retail points, such as Bliss Spa and more (2)
Automatic update status to Gold Preferred Guest member by spending 000 on the map of each calendar year. Access to private sales with select Starwood retail points. The new card all the benefits include enhanced Starwood Preferred Guest credit card, as well as programs and services that are tailored to the needs of small businesses, including the OPEN Savings (SM) designed specifically for small businesses and provides automatic discounts on purchases at OPEN Savings (3) partners such as Delta, FedEx, and JetBlue. In addition, expense management report cards, an online spend tracking system and spending limits on additional cards that help to better manage employee spendingBenefits of credit card.
One (1) Starpoint for every eligible dollar spent on the cardStarpoints at over 825 participating Starwood hotels and resorts in 95 countries, with no blackout dates? If a standard room is yours.
Transfer Starpoints to over 30 frequent flyer programs, most will receive one-on-one5000 bonus Starpoints when you load transfer 20,000 Starpoints to miles (4)
In the first year and an annual fee thereafter; pay additional cards
Automatic registration of a member of Starwood Preferred Plus
Get 50% off certificate, good towards a Starwood hotel stay on the approval and annual renewal cards
No can win limit on the amount of Starpoints a Cardmember
Competitive introductory rate Percentage of annual purchase (APR) for six (6) months
safeguards retail and travel such as Global Assist, Car rental loss and damage insurance, purchase protection insurance, accident insurance travel American Express Card Baggage Insurance, Buyers Assurance Plan, Express Cash Card Replacement of Emergency, emergency check cashing, and customer service 24 hours.
The new Starwood Preferred Guest Business Card, the expansion of the consumer’s card is an extension of the relationship between Starwood and American Express. The new cards easier than ever for consumers and small businesses quickly earn exceptional travel rewards through spending on their cards. Starwood and American Express have enjoyed a strong partnership co-branded card since 1996, when American Express introduced the ITT Sheraton Club Miles CardCredit Card Benefits Eligibility:.
(1) To be entitled to 10,000 Starpoints must make your first purchase with the credit card Starwood Preferred Guest favorite in the year following the approval of the map. Bonus points will appear on your Starwood Preferred Guest statement 8-12 weeks after your first purchase. Bonus Starpoints are for first time holders Starwood Preferred Guest credit card only. You can have more than one Starwood Preferred Guest account, but if you had or have a project like this you are not entitled to receive bonus Starpoints will be given for any such statements. (2) one additional Starpoint for every eligible dollar spent on your card account at Starwood Hotels and Resorts brand will be participating in the Starwood Preferred Guest frequent flyer program is loaded, and stand-alone retail stores and online shopping get in all cases, Starwood Hotels and Resorts Worldwide-owned subsidiary, Inc.(3) OPEN Savings (SM): Payment must be made with an American Express Business. Savings will be credited to your American Express Business Card billing. All savings referenced are in addition to all the services of participating companies. Participation and offers are subject to change without notice. Terms and conditions
(4) A bonus of 5000 on the airline rewards with rewards 1-1 miles conversion rate base .. Corresponds to the premium in accordance with other airline conversion rates assigned
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Instant Decision Credit Cards – Get Approval Without Any Delay
Instant Decision Credit Cards – Get Approval Without Any Delay
Article by Rock Roger
Every one expects a quick access to credit cards for making easy purchasing of lots of items without carrying cash. But knowledge of how the procedure of approval works is essential to gain beforehand as you apply for instant decision credit cards. The right information will lead you to a suitable search for your requirement and circumstances.
A reason of quick approval of credit cards is the online mode. Processing of Numbers of credit card companies promise a quick approval of the credit card you have applied for and you are required to make an online application to them. Because of online mode the processing is fast and you are informed of the decision quickly on your computer screen.
But the card issuing bank or building society will first check your rating with reputed agencies like Experion or Equifax for determining if you deserve the approval or not. The check is usually instant and then the approval is instantly conveyed to the customer.
You should be having a good history of making timely payments on the past. However, if such history is bad or poor, then you should apply for bad credit instant decision credit cards, which have a limit on the amounts, and interest rates also are higher. You must be ready to give personal information like home address and for how long you are residing at it, employment details and your salary information and account details.
Before you file application for instant decision credit cards, it would be appropriate to first check out various features of different such offers on online. Keep your requirement and circumstances in mind when comparing the offers. For instance, you can compare the interest rates and cash back details and you can keep your past payment history in mind in doing so. These steps can ensure a suitable card for you.
About the Author
Rock Roger is a debt consolidator and advisor and has been dealing with various finance programs. If you want to know more about instant decision credit cards, apply credit card bad credit, online credit card debts, bad credit credit card uk, credit card debt reduction you can visit http://www.creditcardbadcredit.org.uk/
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www.InstantApprovalCreditCard.Info Get the best prepaid credit card deal online with instant approval and access a Visa or Master Card.
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