Thursday, June 30, 2011

How Much Would You Pay To Gain These Aspects Of Credit Cards With Cash Rebate?

Credit cards with cash rebate incentives give you cash rewards each and every time you make a purchase with your credit card.  Although there are many types of reward credit cards out there, more and more companies are leaning towards cash back incentives, as most people prefer to receive cash back over any other type of reward.

For many, getting cash back is far preferred over air miles, items, or any other reward.  If you like to use your credit card often, then you’ll find that cash rebate credit cards will give you a lot of money in return.
Normally, these types of credit cards entail higher fees and APR.  You don’t want to carry a high balance on these cards at any time, as it normally ends up very costly.  If you can off your balance at the end of the month, then your APR won’t affect you.  Paying off your bill will also allow you to take full advantage of the cash rebate reward.

The percentage of cash back will vary, although most normally have 1%, with 5% being applied with certain purchases.  For every purchase you make using your cash rebate credit card, you’ll get a small amount of cash back.  Using your credit card on a frequent basis will give you a lot of cash back at the end of the year.
If you make big purchases, you can get a lot of cash back by using your credit card, although some may have a limit on just how much of a rebate you get back.  If you plan to purchase large items such as furniture, you should check into your cash rebate credit card and find out what the rebate is on these types of purchases.  The better rebate cards will normally send a lot of rebate cash your way just for purchasing some of the larger items.

Before you get a cash rebate credit card, you should always find out how much of a reward you will be getting with each purchase, and what the limit may be.  Once you have reached the limit, some banks will either send you a check, deposit the reward into your bank account, or simply add the reward to your credit card.  All three are wise options, although most prefer to have the money added to their bank account - so it can help draw some interest.

If you research the rebate card and find out what other features are included, you’ll normally come out a winner.  Make sure you inquire about the credit limit, fees, and other things that you feel you should find out.  Once you have researched and found out what you need to know - you can get a cash rebate credit card and begin living life knowing you will be getting cash back for just about anything you purchase.

Thursday, June 23, 2011

Credit card debt consolidation

What is ‘Credit card debt consolidation’?


‘Credit card debt consolidation’ is a phrase that you must have come across many times. There are hundreds of sites with advice on credit card debt consolidation. Every now and then your favourite newspaper will also contain an article or advise on credit card debt consolidation. TV channels host discussions on credit card debt consolidation. Moreover, there are numerous consultants and companies that provide professional advice on credit card debt consolidation. So what is this “Credit card debt consolidation” that everyone is talking about? Why is it such an important topic?

“Credit card debt consolidation” refers to consolidation of the debt on various credit cards into a single credit card (or a couple of credit cards). Generally, you move from a higher APR credit card to a lower APR one. You might ask ‘why?’ If you look into how the vicious circle of credit card debt works, you will immediately understand the logic behind that. Credit card debt grows in 2 ways. One is due to addition of new debt on account of fresh spends on your credit card and the second is due to addition of interest charges to the existing credit card debt. The first one is due to your use of credit card but the second one is due to interest charges which are calculated on the basis of the interest rate or the APR applicable to your credit card. So a lower APR rate means that your credit card debt will grow at a slower pace and hence switching over to a card with lower APR makes perfect sense.

The process of credit card debt consolidation is also referred to as balance transfer process (you transfer the balance or debt from one credit card to another).The credit card debt consolidation (or balance transfer) offers are made even more attractive by the credit card suppliers by associating various benefits with them. The simple logic behind offering these benefits is the fact that such a customer would be defecting from one of their competitors. The biggest benefit offered by these credit card suppliers is 0% interest on balance transfers (or credit card debt consolidation). This 0% APR is generally applicable for a short period of time i.e. 3-6 months, after which the standard APR is applicable. Other credit card debt consolidation offers include things like interest free purchase for a short period, reward points, etc. These credit card debt consolidation offers make the exercise of credit card debt consolidation even more logical and meaningful.

Credit card debt consolidation seems to be a good way of tackling the problem of credit card debt and that is the reason why there is so much of discussion on the topic of Credit card debt consolidation.

Thursday, May 19, 2011

Consolidate credit card debt

We know that it’s good to consolidate credit card debt (at least that is what we keep hearing from everyone). In fact, the first step towards addressing the problem of credit card debt is to consolidate credit card debt. Now, what do you do to consolidate credit card debt? Should you just go with that attractive ad in the newspaper that says ‘...the lowest APR in the town is available here’?

The first thing, really, is to keep your eyes and ears open. There are always a number of offers available for you to choose from. The credit card suppliers keep coming with new and more attractive offers asking you to consolidate credit card debt with them. However, you must note that the APR quoted in bold, e.g. 0% APR, is applicable only for a short term (3-9 months). The long term (or the standard) APR is different. So, when you go looking for a credit card to consolidate credit card debt, you must be keenly looking for these 3 things (in terms of APR) – introductory APR, introductory APR period and the standard APR. Let’s see how each one is important.

Introductory APR is probably the most attractive thing to look for when you are looking to consolidate credit card debt. If you consolidate credit card debt to a card that has a low introductory APR e.g. 0%, the first thing you get is a breather/relief in terms of the rate at which your credit card debt has been growing. Based on how long that 0% APR period is (generally you will look to consolidate credit card debt with a credit card supplier who offers 0% initial APR), you will at least be able to temporarily break the growth rate of your credit card debt. More the introductory period, the better it is. However, you should not ignore the standard APR when you consolidate credit card debt. This is the interest rate that will be applied to your balance after the expiry of the introductory low APR period that was given to lure you to consolidate credit card debt with that credit card supplier. If the standard APR is too high and you know that you will not be able to clear off the entire credit card debt during the low APR period, that credit card is probably not the best for you to consolidate credit card debt to. However, if you think that you will be able to clear off the entire credit card debt during that period, you can make some compromises on the standard APR of the credit card to which you consolidate credit card debt.

The card that synchronizes with your current and future financial position (and needs), is the one you should consolidate credit card debt to.

Tuesday, April 26, 2011

Credit card debt consolidation loan

Credit card debt consolidation is regarded as the first step towards getting rid of credit card debt. Credit card debt consolidation loan is one of the ways of consolidating credit card debt. Besides, credit card debt consolidation loan, you can also go for balance transfer to another credit card. In fact, due to the publicity by credit card suppliers, balance transfers seem to be more talked about than credit card debt consolidation loan. Some people kind of forget about credit card debt consolidation loan being available as a method of credit card debt consolidation. However, credit card debt consolidation loan too is important to consider when going for credit card debt consolidation.

So what do we mean by credit card debt consolidation loan?

Put simply, credit card debt consolidation loan is a low interest loan that you apply for with a bank or financial institution in order to clear off your high interest credit card debt. So credit card debt consolidation loan too is based on same principle as balance transfers i.e. moving from one or more high interest debts to a low interest one. The credit card debt consolidation loan has to be paid back in monthly instalments and as per the terms and conditions agreed between you and the dispenser of credit card debt consolidation loan.

Credit card debt consolidation loan, in general terms, is an unsecured loan i.e. doesn’t require you to pledge any security. However, if you have a really bad credit history and you want go for credit card debt settlement using credit card debt consolidation loan, the credit card debt consolidation loan will take the form of a secured credit card debt consolidation loan. This type of credit card debt consolidation loan requires you to pledge a security e.g. the home owned by you or something else that has a value which is comparable to your credit card debt consolidation loan amount. So, worse the credit rating, the more difficult it is to get a credit card debt consolidation loan.

Though balance transfers and credit card debt consolidation loans have the same objective behind them, the credit card debt consolidation loans are sometimes considered better because you end up closing most of your credit card accounts which have been the main culprit in landing you in this difficult situation. However, balance transfers have their own advantages which are not available with credit card debt consolidation loans. Choosing between credit card debt consolidation loan and balance transfer is really a matter of personal choice.

Sunday, March 13, 2011

Vacation And Credit Cards

Each and every year, many of us go on vacations.  Vacations are a great way to relax, and get away from the everyday pressure of life.  Over half of all American families take their vacation between April and September, meaning that they spend a lot of money on travel.  Whether it’s international or domestic travel, you can spend a fortune before you actually realize it.

As we all know, traveling with cash or checks isn’t always a wise decision.  Renting cars, flying in airplanes, or checking into hotels is a much easier task if you have a credit card.  Even though you may decide to use your credit cards for big purchases only, you’ll find that the traveling experience will be a much smoother process.


Unlike cash or checks, credit cards make handling your documents and receipts much easier.  If you purchase something, records from that purchase will be made with your credit card manufacturer, which you can always fall back on if something happens.  Things can go wrong without notice, so you’ll always want a backup plan or something to have as proof in the event of a disaster.  With a credit card, all you need to do is look back at your statement and you’ll find everything that you purchased in one easy to find location.

Credit cards are also much easier to handle and keep track of than cash.  If you decide to go to a theme park or a resort, you’ll find that cash can be a bit bulky to handle.  Carrying a large amount of cash can be hard to keep track of, even though it isn’t recommended.  Credit cards use up less space, and you can keep them in your pocket.  When you need to pay for something, you don’t need to count through your cash, simply hand over your credit card and sign your receipt.

If you don’t have any credit cards, you can always get them for vacation purposes only.  There are many benefits to having credit cards, besides the fact of them being easier to keep track of.  There are many different credit cards out there to choose from, including those that will give you cash back or rewards when you make a purchase.  Cash back is normally a small percentage of what you spend, and is given to you at the end of the month.

Some credit cards will give you reward points for every dollar you spend, which can be redeemed with several merchants offering a variety of products.  Although cash back is always a great thing, many people find reward cards to be just as good.  You can enjoy your vacation, buy just about anything you want, and know that the money you spend will help you to buy other things that you may need when your vacation is over.  Actually, can you think of this as having your cake and eating it to.

All in all, credit cards can make your vacation easier than ever before.  You can earn rewards and cash back with purchases you make using your card.  Although you may think cash is the preferred way to go, there are several merchants who actually prefer credit cards.  They are more professional, and easier for you to handle than cash or checks.  They are easy to obtain as well, providing you have good credit.  If you don’t have a credit card, you should look into getting one before you take your next vacation.  All you need to do is look for your favorite company online and apply through their website - you’ll normally receive a response in a matter of minutes.

Thursday, February 24, 2011

Credit card debt counseling: Is ‘credit card debt counseling’ really beneficial?

Not everyone believes that credit card debt counseling is beneficial and there are various reasons for that. Some people just read articles in the newspapers or find advice on the internet and take that as the final thing. So they don’t feel the need for credit card debt counseling. Some others feel that credit card debt counseling companies are just trying to make quick money by telling you the obvious i.e. by telling you something that is being advertised everywhere.

 However, the most important reason arises from the fact that not all credit card debt counseling companies are genuine and of those that are genuine, not all credit card debt counseling companies provide good advice. So, choosing a proper credit card debt counseling company becomes a critical factor in determining the success of credit card debt counseling. Always go for a reputable credit card debt counseling company, even if their fee is a bit higher.

Remember that a proper credit card debt counseling can help you in not just eliminating your credit card debt, but eliminating your credit card debt in a way that is so cost effective as to more than offset the fee credit card debt counseling company is charging you.

Moreover, proper credit card debt counseling can save you a lot of time and energy that you would have otherwise spend in studying all about credit card debt, gathering information about various credit card debt elimination measures and comparing these measures. Further, these credit card debt counseling companies can present more than one solution to you from which you can choose whatever appeals the most to you.

These credit card debt counseling agencies can also get your credit card debt settled much quicker than if you were trying to do it all by yourself (and without any credit card debt counseling). Also, credit card debt counseling could bring to light things which you would not have been able to see e.g. risks with the approach you were thinking to adopt or a futuristic view of things. Moreover, a person who earns his/her bread by practicing credit card debt counseling as a profession, would know the tricks of the trade which no one else would even have an inkling to e.g. pitfalls of a particular debt consolidation offer, or advantages of another offer etc etc.

There is no doubt with regards to the benefits that credit card debt counseling can bring to you. However, you need to be careful and avoid the fraudsters and pick up someone who has a good reputation.

Wednesday, February 16, 2011

Tips To Get A Credit Card Even If You Have Bad Your Credit Rating



Your credit is bad.  Perhaps you have a string of unpaid bills haunting your past.  Maybe you declared bankruptcy within the past 10 years, or defaulted on a student loan.

All of the above can block your access to obtaining a major credit card, such as VISA or Mastercard.

But bad credit is not the only reason you can be denied a major credit card.  Some people simply have never used credit.  People who like to pay cash only, have never financed a car, taken out a college loan, or a mortgage may have zero experience with credit.  In that case, most card companies will reject your application, not because you have bad credit -- but because you have no credit rating.

Many women who marry young and do all their borrowing under their husband's name often find themselves with no credit rating after they are widowed or divorced.  Thousands of women have been denied loans and credit cards on that basis.

Still other people carry too much debt to be considered a good risk.  If you have a car loan, a student loan, a mortgage, two or three -- out cards, you are unlikely to be granted another credit card.

But in any and all of the above cases, you can still obtain a credit card. No matter how bad your credit, and even if you have declared bankruptcy, you can still be granted a VISA or Mastercard with a limit as high as $5,000, if you know the right company to call, and how to make your application.

We are going to reveal these card companies and the methods by which you can obtain a VISA or Mastercard later in this report, but first, let's talk about some of the other things you really should know about credit cards, including annual fees, interest rates, credit reports and more.


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Your Credit Rating

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How do credit card companies decide if you are a good credit risk or a bad credit risk?  Well, it's sort of a Big Brother thing. There are several large agencies in America which track the borrowing and buying behavior of just about every single American who has borrowed money at one time or another.

The four major credit rating agencies are:

CSC Credit Service  ::                (Phone: 800-392-7816)

TRW Information Sys.  ::              (Phone: 800-392-1122)

Equifax  ::                           (Phone: 800-685-1111)

Trans Union Corp.  ::                 (Phone: 800-851-2674)

When you send in an application for a credit card, the card company contacts one of the above agencies, which pulls your file, if one exists, and let's the company know if you have any bad debts in your background.

If you have never borrowed money or used credit of any kind, your name will not appear in the data base of any of the above.  If you have, there will almost certainly be information about you.  If you have ever defaulted on a bill, or walked away from a debt owed, that information will be available. If you have never defaulted on a loan, but have made frequent late payments, that is recorded, too, and goes against your credit rating.


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If this sounds a bit like Big Brother, most would agree with you that it is. It's scary to think that some large anonymous corporation is keeping a file on you, but it's true.  Furthermore, they will share your file with any lending institution that wants to know something about you.  That's the price you pay to obtain credit. You've heard the statement, "there ain't no such thing as a free lunch."

When it comes to the game of credit, the lunch is definitely not free, neither in the monetary sense, or in the realm of personal freedom.

To top things off, credit agencies make errors in as many as one-fourth (25 percent) of all their reports.  At this minute, false information about you may be ruining your credit rating.

To check your credit rating for errors, call the agencies at the numbers I provided above. They will request that you send them a written letter asking for a copy of your credit report. They will send you a copy of the information they have about you.

Now let's look at how card companies make the big bucks -- interest rates.


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A few decades ago there were laws against charging the kinds of interest rates credit cards get today.  Exorbitantly high interest rates were called "usury," and were forbidden by federal law.  Just 30 years ago loaning money at 20 percent would have landed any banker in prison.  Such rates were the territory of loan sharks and organized crime.

Today, however, it's standard business.  Some cards have rates approaching 21 percent.  Some product manufacturers, such as Apple Computer, have credit plans that push a whopping 23 percent.

Most credit card companies attract customers with super low interest rates, sometimes as easy as 5 percent.  But what they only tell you in the fine print, which few people bother to read, it that the interest rate jumps back up after six months.  Many cards that start you out at 6 percent soon jump to 18 percent, or higher.  By that time, most people have chalked up a balance and are stuck.  Most people simply fail to notice when their rate increases. Credit card companies count on that. They like who take no interest in details.  If you don't watch them, they'll watch you -- and your wallet -- and dip into it in the most insidious ways.


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Some credit card companies charge no annual fee for use of their card. Annual fees range from $18 to $55.  You pay it every year simply for the privilege of using the card.  Other companies charge no annual fee.  You might think, then, that this is a better deal.  Most often they are not. Cards with no annual fee almost always have a higher interest rate.  If you leave a monthly balance, you'll always pay more than the annual fee in interest charges.  Only if you never leave an unpaid monthly balance can you benefit form a card with no annual fee.


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One of those insidious ways is the offer such perks as frequent flier miles or annual rebates.  Use the card so often, and get X amount of frequent flier miles.  Use your card, and get credit toward the purchase of an automobile.  Is this a good deal?  Hardly ever.  As you might have guessed, the offer of rebates and gifts is simply an inducement for you to pay super high interest rates.  Unless you are a big spender and travel a lot, you'll rarely benefit from this kind of promotion.


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In short, never sign up for a credit card until you compare rates.  Shop around. Credit card companies are just as competitive as any other kind of business. That means interest rates that vary widely. In general, never go for a card that is five percent higher than the current prime rate.


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What if you are already on the hook with a major credit card with an agonizing rate of interest?  Pick up the phone, call your card company, and get tough.  Often, if you ask for a lower interest rate, you'll get one -- it's as simple as that.

As further incentive, you can threaten to transfer your balance to another card company with a lower rate.  Many card companies are more than willing to take you on as a customer by paying off one of their competitors for you.  Of course, you are then beholden to them.  That's okay if you score a lower interest rate.


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Now what about all of you "hopeless cases" out there.  What if you have deplorable credit, or no credit rating at all.  You may have already been turned down by a half-dozen card companies.  What can you do?

First, you should think long and hard about why you want a credit card in the first place.  If you have a history of bad credit, a credit card may be the last thing you need.  Many people feel that credit cards and the debt they lead people into is a modern form of slavery.

Credit cards are almost magically deceptive and alluring.  They get at the deepest psychological lever of the human mind -- a lever which allows people to have the feeling they are getting something for free, when in fact, they are paying two, three, four, even ten times as much for that product because of the interest they will pay on each purchase.

On the other hand, not having a credit card is becoming less and less practical in modern America.  You can't rent a car without a credit card. Carrying cash is dangerous.  Checks are not accepted everywhere -- and traveling to another city or country is extremely difficult without the confidence and identity a credit card brings.


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If you decide you really need and want a credit card despite your past problems with credit, you should get what is called a secured credit card. Even people who have declared bankruptcy are granted secured cards.

A secured card works this way: you pay a lump sum of cash upfront either to your bank or the card company itself, usually from $200 to $2,500.  The card company will then grant your credit for up to 150 percent of the amount of your deposit.  If you pony up $500, you will be granted a $750 credit line.  If you put up $1,000, you will get $1,500 in credit, and so on.

Your deposit money will earn a very nice 4 to 5 percent interest while it is held as collateral by your bank or the card company.  The deposit money acts like a buffer for the lender.  In the event you default on your card debt, the lender gets to keep your money. They may still incur a net loss, but the risk is far less.

Additionally, the interest you gain on your deposit will offset the interest on your monthly balance if you have one.  If you get a secured card with an 18 percent interest rate, you can feel good about the fact that your pre-payment is earning 5 percent.

Which card companies offer secured credit card plans?

The following:

(At the time of writing, these details are correct. If they change by any chance, you'll have to look up the institutions in the Yellow Pages, or simply do a search online.)

CitiBank -- Minimum deposit is $300, which earns 4%.

Call: 800-933-2484

Federal Savings Bank -- Minimum deposit is $250, which earn 2.5%.

Call 800-285-9090

Orchard Bank -- Minimum deposit is $400, which pays 4%

Call 800-873-7307

Key Federal -- Minimum deposit is $300, which earns from 4% to 5%.

Call 800-228-2230

Signet Bank -- Minimum deposit is $200, which earns 5%.

Call 800-333-7116.

Using a secured credit card can also help repair your credit rating if you use it responsibly over a number of years.

Even if you do not have bad credit, a secured credit card is recommended for anyone who wants the safety and convenience of a credit card.  Secured cards are a safe, responsible way to control your spending, and you actually earn money though interest on your deposit while you enjoy the use of your card.


 By Andre Vas


Article Source: http://EzineArticles.com