Archive

Archive for the ‘Credit Card Articles’ Category

Credit Cards: Financial Assistance When Needed

March 19th, 2017 Comments off

The need to borrow has increased in the current times by many folds. This need to borrow is well termed as credit in the financial terminology. The reason for borrowing can vary from person to person and from need to need however the common factor remains the same money. Gone are the days of barter system where one could exchange ones product with others product to satisfy the need. In current times money acts as the common factor for various things starting from vegetable needs, to fuel needs to bigger needs of house, car, etc.

And since not everyone is born with a silver spoon thus the need to borrow money becomes more predominant in such cases which can be many. Credit card is the modern day version of borrowing which acts as real money supplement. It is for its virtuality that it is known as plastic money.

Credit cards have gained and maintained their popularity with people from all ages. And if used wisely then there is no other bigger convenience in the current inflationary time. There are various benefits that credit cards offer with the biggest one being the availability of cash if one ran out of theirs. Another one can in linked with ease of carriage, as a credit card is like the size of a visiting card which fits well into a wallet.

A credit card is different than a debit card which is linked to ones bank account. In other words credit card is linked to the money which one has not earned but is given to them on credit when required. Obtaining a credit card can be an over-whelming task as various conditions are applied to such application. There are various things which the company looks into before giving the credit card to the applicant one of the most important of all being the credit score. Once the credit card is issued it can be used like a debit card however it is also the responsibility of the bearer to make repayments of the amount used well in time to avoid late charges.

Credit cards if used sensibly offer lot of benefits.

Authors:

Adam Reedy writes about “Credit Cards” – At DebitCard.com.au you can compare the best available Visa Debit, Debit Mastercard and Credit Cards from across Australia.

Whereabouts Can I Use My AMEX Credit Card?

February 16th, 2017 Comments off

American Express credit cards are accepted at tens of thousands of locations around the world, both on and offline.

In your day to day life, you can use your AMEX to pay for things like flights and travel, groceries, petrol, accommodation, taxis, bills, concert tickets, and other daily expenses.

Virtually all major retailers and service providers will accept AMEX cards, but smaller stores – such as your corner store or local hardware store – may not accept AMEX as a form of payment. This is because AMEX generally charge higher merchant fees than other credit card issuers, which smaller businesses can’t recoup as easily as larger companies are able to.

(For an indication of the individual stores in the UK where AMEX is accepted, visit the credit card provider’s official listing.)

If you travel abroad frequently, using your AMEX has many benefits, such as dedicated AMEX currency exchange centres. If you’re an AMEX customer, you can often access a better foreign exchange rate at these centres. AMEX accounts can also come with extras such as free travel insurance and 24-hour card replacement, if your credit card is lost or stolen.

However, there can also be some drawbacks associated with using your AMEX overseas.

AMEX differs from other credit cards such as Visa and MasterCard, as it is a direct issuer, rather than being a product offered by a bank or financial institution.

As a result, AMEX is not as widely accepted as other credit card types in all countries. Usually, major retailers, hotels and restaurants will accept AMEX, but smaller businesses may not accept AMEX payments, because the transaction fees charged to the merchant are too high. If you’re planning to travel overseas, it’s worth enquiring with your hotel or with AMEX credit card provider to ensure that your credit card will be accepted.

About the Author:

Best Credit Cards Available

February 14th, 2017 Comments off

The APR is the single biggest determinant of the fit of a credit card for a debtor. APR stands for the Annual Percentage Rate of best credit cards. This is the aggregated interest rate and other loan fees of a credit card for one whole year. You should look for cards which have lower APR. This means that you should not look solely at the interest rate, or the nature of the interest (that is, whether it is simple or compounded). You should check with their computation on how much it will cost you in a year. For instance, a 1% compound interest is worse than a 2% simple interest. This is not apparent, but the compounding will make the APR increase.

No Annual Fees Allowed

You should choose credit cards which do not cost an annual fee to use. This is because having an annual fee will put a lump-sum increase to the APR of a credit card. Most reputable cards do not have an annual fee, but some do. If ever you are forced to choose one with an annual fee, choose the one with most benefits or the one with least cost. Either way, you should be able to compensate the annual fee they charge with the services they offer. To stay clear of this, ensure that you always have a good credit rating to avail of better options. Most companies will forgo of the annual fee if you have a good credit rating.

Look for Rewards Programs

Rewards programs are part of the perks you have when you get credit cards. Whether these are rebates, freebies or discounts, you should take these things into consideration. It is best if the credit card’s rewards fit your lifestyle and needs. For instance, a credit card with discounts in a sport store is more likely to appeal to sports buffs, than, say, video game addicts. Thus, you should fit the card to your needs, not the other way around. Other benefits to look out for include rebates and other freebies which come with the card. You should check, however, the fine print before availing of the programs. In general, it is better to have less restrictive programs.

Have a Diversity of Credit Cards

Why choose only one credit card when you can have more? The diversity of plans will make it infinitely more advantageous to you. Simply, select the best plan for the best fit. It can also help your credit rating by reducing your utilization for each card, having a positive effect on your credit score.

While you may have suffered embarrassment at the hands of other credit card issuers, these companies respect your integrity and therefore help you in obtaining a credit cards for bad credit. Though the options might be limited for now but if you use the credit cards wisely, you have a chance to improve and be eligible for an unsecured type of apply for a credit card.

The Best Credit Card Offers Depend On Your Needs

February 13th, 2017 Comments off

Large credit limits allow you to make bigger purchases with your best credit card offers. However, having a larger proportion of the credit limit will make your credit score look bad. This may hinder you from replacing the card or taking more advantageous deals. Credit score could also be improved by having many accounts with lower credit limits. That way, you can distribute the usage of the cards, lowering your credit utilization considerably. In addition, larger credit limits need to have a better credit score to be achieved. If you don’t have this score, you may be obliged to pay a premium or show some documents to prove your capacity to pay.

Can you pay large interest rates?

Your choice of a credit card also hinges on the your willingness to pay fees. Of course, most of us are averse to paying high fees, but you should also check if those fees are justified. For instance, you may have a 10% interest, but may be able to have more perks, like integration to your bank account, among others. The question now is, for the given benefits, how much are you willing to pay. You should be very realistic about what you want. The best way to do it is to check from many sources and find the most competitive program.

Is the low rates offered for a limited time?

You should also be wary of certain promotionals which promise a low or no interest for a certain period of time. More likely, these will have a lock-in period longer than the promo period. This may expose you to higher rates and may “pay-back” the amount of money given to you. Ensure that you communicate well with the credit firm to find out the terms and conditions of their promos. You could also be able to litigate if you have enough proof that you have been deliberately misled by the people who sold you the card. Remember, never sacrifice long term gains for short term gains. Is there something off-putting in the fine print?

You should also scrutinize the fine print of the contract. This way, you wouldn’t be surprised if there is a sudden increase in the interest rates or even prevent yourself from doing things which will void the contract. It is best to consult a lawyer when reading such fine print, as he or she can give you and objective opinion on how to go about it.

Thus, Visa is surely the best credit cards to apply for and to enjoy a clean and a peaceful experience of dealing and making payments through a credit card.

Credit Cards For People With No Credit: Starting Out Correctly

February 12th, 2017 Comments off

People with no credit are those who have just started out in their finance and have yet to have an extensive credit record. You may look at this situation in two ways. It may be seen as “half-empty”, since you will not be able to get the best deals and should still work hard for you to be able to go up the credit ladder. On the other hand, it may be seen as “half-full”, since you are not yet in a position of credit cards for bad credit rating and can still easily adjust to make your credit score better. One may actually view it as a new beginning, where you are laying the foundations for a better credit score.

Here are some tips to help you start out correctly:

Try to get the best deals possible

People with no previous credit are presumed to be in fair creditworthiness. This means that, while they may not give you the perks that come with having a good credit rating, they will still readily provide you with credit, with some supporting documents. Try to shop around first to see which credit institution fits you. This is especially because some creditors provide better rates for starters than others. In addition, they may also help you out in planning your credit schemes.

Diversify your credit

You should not put your eggs in one basket. Try getting smaller loans from more institutions. This has the effect of easily increasing the amount of records that you have, while also lowering your overall credit utilization. This also provides you with more fall-back options and allows you to choose which credit is better. This basically guides your investments by checking out more for less. This is the credit equivalent of window shopping, or perhaps even a lauriat.

Ensure that you live within your means

One common mistake for most beginning creditors is trying to get loans which they will find hard to pay. This will decrease your credit score, making it harder for you to get credit. Thus, only get loans which you need and those which you have the capacity to pay. Remember that the credit score is also an indicator of the creditor’s confidence in you, so win their confidence by paying on time and paying in full.

Increase your spending capability by increasing profit

While income is NOT a determinant of credit scores, having a larger income makes it easier for you to pay loans, allowing you to make a better payment history. Thus, income indirectly helps your credit rating by making it easier for you to pay up.

While you may have suffered embarrassment at the hands of other credit cards for people with no credit issuers, these companies respect your integrity and therefore help you in obtaining a bad credit credit cards. Though the options might be limited for now but if you use the credit cards wisely, you have a chance to improve and be eligible for an unsecured type of apply for a credit card.