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Seven Things You Should Know About Balance Transfer Credit Cards July 5, 2010 - 8:49 pmBalance transfer credit cards are a great way to reduce your credit card debt, but only when you transfer balances to a credit card with a lower interest rate. If you’re looking at a sweet balance transfer deal, get some facts about balance transfer credit cards before you apply for the credit card. Balance transfer cards can be tricky so it’s best to know the facts beforehand.
1. Introductory rates must last at least six months. A credit card law that went into effect in 2009 specifies that any promotional rate must last at least six months. That means you get at least six months to take advantage of your lower rate before your interest rate increases.
2. You can lose your promo rate if…
Three Ways To Be Sure It Is Your Credit Card Company Calling You June 4, 2010 - 2:05 am
With the ever growing concern of identity theft, you must take extra measures in things such as credit card security. Follow these three ways to be sure it is your credit card company calling you and not just someone fishing for your personal information. You are the first line of defense in protecting your current finances and your financial future. Any company that deals with your personal credit will understand this. It is not the time to worry about offending or turning off a customer service representative. It is a part of the job to ensure your privacy and you can never be too safe when it comes to scams and thieves.
Ask for Proof
Any legitimate caller about your account will be glad to…
What To Do If Your Credit Card Has Been Fraudulently Used June 3, 2010 - 2:04 am
Credit cards have become a staple of modern-day life. The average American carries 3.5 cards on their person, and uses them for everything from paying bills to shopping online, dining out, and filling up their cars with gas. Indeed, credit cards are virtually indispensable and very easy to use. Both of these, unfortunately, make them prime targets for fraudulent use.
In the United States, fraudulent credit activity is a multi-billion dollar a year crime that is used against people of all walks of life. Learning how to counter credit card theft and fraud is something every credit card user should know.
How do you know if your credit card has been used fraudulently? Anyone who owns a credit card should check the account regularly to…
Three Ways Credit Card Companies Protect Their Cardholders From Fraud June 2, 2010 - 2:04 am
If you’ve ever lost your wallet, you know that terrible feeling of anxiety when you think about everything you have to replace. But, never mind that dreaded trip to the DMV for a new license, your lost credit cards are now in line to end up in someone else’s hands. The result – unauthorized charges that constitute credit card fraud. So what are credit card companies doing to protect their cardholders from fraud? Let’s take a look at three ways your credit card company is making sure you remain a satisfied customer and not a victim of criminal activity.
3 Digit Codes
The three digit code on the back of your credit cards is probably your first line of defense against credit card fraud. This…
How Credit Cards Protect Purchases Left In Vehicles June 1, 2010 - 2:03 am
Because the economy today is in such a bad state, many people are cutting down on the amount that they spend on expensive items today. People are looking to save money in ways that they never have before and one of these ways is to insure that their valuable positions and purchases are protected. However, insurance is a purchase that is very often not required in order to protect your new purchase from theft. One beneficial aspect to credit cards is vehicle safety. Credit cards can protect purchases left in vehicles from theft or damage in many ways.
Credit cards are a cost effective way to avoid purchasing insurance for protection of your new luxury item. For example, if you purchase a new television set…
Types Of Purchases It Is Best To Use A Credit Card For May 31, 2010 - 2:03 am
Credit cards can be a great tool for protecting yourself from fraud, improving your credit score, and accruing frequent flyer miles or other rewards points. With identity theft and other security issues rising, more consumers are using credit cards to make large purchases.
While some financial experts believe cash should be used for many purchases, there are several in which credit cards will be the best medium. For large, expensive purchases, such as travel arrangements or vacation packages, a credit card will be the most flexible method of payment. Usually hotels and car rental companies will need a credit card to reserve your purchase, allowing you the ability to cancel your reservation without being charged. Flights are another good credit card purchase, as some credit…
Your Cards And Your Credit May 27, 2010 - 2:02 am
With great freedom and power, there also comes great responsibility. If everyone could just remember this adage when it comes to applying for new credit cards, perhaps there would be no need for credit rating scores and debt consolidation agencies. The reality, however, is that millions of Americans are addicted to the ease of using credit cards and the freedom it provides to acquire things (“take now, pay later”), and give little thought to the fact they are actually spending money what they don’t have. And what’s worse, unless payments to their creditors can be made in a timely fashion, they will have to pay an accumulated interest and spend more money than they initially planned! Ultimately, the habitual comfort of “charging it” becomes a…
Responsible Credit Card Management May 26, 2010 - 2:02 am
Responsibly managing your credit cards can be a task that ranges from very easy to incredibly difficult, depending on one’s financial discipline and ability to control their spending. The fact that credit cards are accepted nearly everywhere, to pay for almost anything, allows individuals to spend somewhat freely, and without due care, one can end up in serious financial trouble. However, with a few key tips in mind, being responsible with your credit cards can be made a bit easier.
The most important task begins with new credit cards. Reading over the credit card agreement or contract may seem boring, but the agreement contains information that is critical to being financially responsible with one’s credit. For instance, knowing how much the interest rate is, when…
Lower Monthly Payments In One Fell Swoop May 25, 2010 - 2:01 am
There are many reasons why people have difficulty paying debts. Illnesses or periods of unemployment, however brief, can put people behind in meeting their obligations. Once behind, the late fees begin piling up causing more woe. What these people need are lower monthly payments to take the strain off their budgets and allow them to regain ground. Debt management programs are designed for people who cannot make the minimum payments on unsecured debt. These programs lower monthly payments by lowering balances and interest rates; consolidating debt into one payment; and working out a debt repayment plan. Lowering monthly obligations is the key element for the plan to work.
Debt management companies work directly with creditors to negotiate lower balances on each of the consumers’ unsecured…
Knowing How Many Credit Cards You Can Handle May 24, 2010 - 2:01 am
In today’s consumer world, credit cards have become commonplace as one of the most used methods of financing one’s purchases – from daily needs such as groceries and gas, to major purchases such as appliances and home renovations. Even in sour economic times, the average person has credit cards being offered to them in stores, banks, gas stations and even by mail. Knowing how many credit cards you can handle is important in ensuring that you don’t exceed your ability to pay off your credit cards and become financially insolvent.
When first considering a new credit card, it’s very important to look at the “fine print” details before signing and committing to using and receiving the card. A credit card application is a contract, and…
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