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Credit Cards You Should Avoid March 31, 2011 - 8:00 am

Credit cards are a product, just like a tv or a car. Like all other products, there are good cards and bad cards. Before you apply for a credit card, know that there are some cards you should always avoid. Credit Cards With High Interest Rates The credit card interest rate has a direct impact on the price you pay for carrying a high balance. You can typically expect to pay interest on balances you don’t pay in full before the grace period, but you don’t have to pay enormously high interest rates. When you’re looking for a card, take a look at the average interest rate. Currently, the average rate is around 14%. Stay away from cards with interest rates that are high above…

Evaluating Introductory Rate Credit Cards March 29, 2011 - 8:39 am

Many credit card offers are made more attractive by an introductory interest rate. An introductory interest rate is a low interest rate offered for the first few months after you apply for a credit card. The biggest benefit of the introductory rate is that you can enjoy little or no interest for several months. Read the fine print of introductory rate cards to make sure you’re getting a good deal. What Does the Introductory Rate Apply To? Introductory rates most commonly apply to balance transfers and purchases made on the card. The low rate may apply to either purchases or balance transfers, or it may apply to both. Make sure you understand which type of transaction gets the low rate. Be aware that even though…

Applying for a Credit Card With Your Love? Better Think It Through March 27, 2011 - 8:31 am

If you are in a new relationship that is moving towards a long-term situation, you may be tempted to apply for a credit card together to handle your financial affairs as a couple. However, joining someone on a credit card account before you are legally married requires some serious consideration because the obligations that come along with the joint application are no joke. There are many things that can go wrong in a relationship and it really takes some thought as to what you are committing to especially when you are intermixing finances. Here are some of the concerns you should have before agreeing to apply for a joint credit card account: Where Do Finances Rank? In many cases, people will opt to get a…

How to Qualify for the Best Credit Cards March 24, 2011 - 8:45 am

Credit card approval isn’t guaranteed. Just because you apply for a credit card doesn’t mean you’ll get that card, or that you’ll get the rate that was advertised. Even when you’re “pre-approved” for a card, you could end up being approved, but with less favorable terms that what you received in the mail. You could even be denied. There are some things you can do to improve your chances at getting approved for the best credit cards. Pay all your bills on time. Payment history is one of the major factors credit card issuers consider when they’re approving applications. If you’ve always paid your bills on time, then you have a much better chance at having your application approved. On the other hand, late payments,…

Resolving your financial issues with debt consolidation loans March 21, 2011 - 8:20 am

If you’re struggling under a mountain of credit card debt, you must be looking for a debt help option. With the global economic recession affecting almost every industry, the debt industry is no such exception. As people across the Country are troubled with their spiraling debt obligations, more and more are making use of debt consolidation loans. Though there are multiple benefits to a debt consolidation loan, a debtor must be responsible enough before taking out such a loan. Taking out a loan is not the end of every financial problem. You also need to manage your finances effectively so that you can systematically repay the loan and become debt free. Read on to know more about the benefits of such a loan. UK…

Why You Should Compare Credit Card Rewards Programs Carefully March 19, 2011 - 8:42 am

In the past, credit card rewards were plentiful and could prove to be highly beneficial to your wallet. But since the changes in the credit card industry and with the implementation of the CARD Act, rewards programs are not what they used to be. It not only pays to compare several programs from different card issuers, it is imperative to read the fine print for all programs before committing to one. Why Are There Rewards Programs? Essentially, credit card programs that reward customers were created as a way to keep the competitive edge from one provider against another. The rewards programs of the past were varied and could be a great incentive for interested consumers. It was a way for card providers to hook new…

Five Things to Consider Before You Get a Joint Credit Card March 17, 2011 - 8:46 am

There comes a time in many couples’ relationships where they consider merging their finances. That may mean getting a joint credit card. Before you apply for a credit card together, there are some things you should agree on and clear up. Why do you want a joint credit card? There was a time when a woman couldn’t get a card by herself. She had to have a husband cosigner. But, that’s no longer the case. Now, every creditworthy adult with the means to pay a card balance can get a card. Before you get a credit card together, talk about the reasons you want to merge your credit. Maybe you want to help one partner build a better credit score. Or perhaps budgeting and paying…

Credit card security March 14, 2011 - 7:14 am

This article is a guest post written by the money team at money saving tips and personal finance site Personal Finance 4 All. Credit card fraud is an increasingly worrying occurrence with even the most careful individual being susceptible. I personally have been unfortunate enough to be a credit card fraud victim and knowing the hassle and inconvenience it caused I vowed to know exactly how to protect myself from fraudsters in the future. Having researched carefully into the matter and spoken to advisors from some of the leading banks I have compiled some key points to protecting yourself from credit card fraud. Using your card in person This may sound simple but it is absolutely essential that you never disclose your pin to others.…

Handling a New Credit Card When You’ve Been Out of the Credit Game March 11, 2011 - 8:17 am

There are some people who abandoned all use of credit cards. Many choose this route after satisfying outstanding debts of the past. Some have chosen not to have a card in their financial life at all. Whatever the reason may be, many consumers who were once done with plastic are making a return appearance and applying for a credit card for multiple reasons. Why a Credit Card Now? Unfortunately, to get good credit you have to have good credit. For many consumers, a good mix of credit types and responsible usage of accounts is what makes a difference in their credit scores. Without a credit card used responsibility, many consumer credit scores will suffer. Since we all need good credit to be ensured the best…

Trying to Boost Your Credit Score? A Credit Card Can Help March 8, 2011 - 8:57 am

Consumers that have sworn off credit cards in pursuit of better credit may instead find it difficult to see a boost in their scores. Applying for a credit card actually is one way to ensure better credit, provided the card is used sensibly and for the good of your score. Why Credit Cards Matter A credit score is comprised of many factors. One of which is the type of open and active accounts a consumer maintains. While it may have taken years to satisfy prior credit card debts in full, closing out accounts or leaving them inactive actually can hurt a score. In order to achieve better credit, a consumer needs to show a nice balance between the types of accounts they have and how…

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