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Do You Need Extra Protection for Your Credit Cards? February 2, 2011 - 8:35 amWhen you apply for a credit card, the financial institution issuing the card may also offer additional options for you to purchase. A popular one being pushed is the credit card protection plans that are supposed to offer you additional coverage on your credit cards for a fee each month or annually. The real question consumers should be asking is whether or not such plans are worth it to them.
What Kind of Protection?
Various credit card protection plans offer different types of added protection. The key to deciding if any plan in particular is right for you involves reading the fine print. Some examples of coverage include disability protection in the event you are injured or ill and can not work or if…
Establishing the Emergency Credit Card January 27, 2011 - 8:48 am
Whether you are an avid credit card user or you prefer to live a cash-only existence, there is one time in everyone’s life when a credit card is a handy resource to turn to for help. Emergencies, those occasions or circumstances we can never prepare for, often leave us hanging in the balance financially. Unless you are independently wealthy or have a sufficient savings fund for emergencies, applying for a credit card may be your next best option.
Why the Need for Emergency Credit?
There are a multitude of things that can happen or go wrong when you are not financially prepared. For instance, consider home repairs, car repairs, travel surprises, and even the death of a loved one. If something should happen to a…
Favorable Credit Card Terms Hinge on Your Credit Score January 24, 2011 - 8:42 am
There are several things that separate good credit card deals from the bad ones. Interest rate, annual fee, and credit limit are a few of the most important terms and your credit score influences all of them.
Credit Card Approval
Your credit score, and a few other factors like income and age, is used to determine whether you’re approved for a card to begin with. Before you apply for a credit card, it’s a good idea to check the credit criteria for that card. That way, you’re not applying for an offer that’s out of your league. Check your credit score before you apply if you don’t already know where you stand.
If you get denied for a credit card because of your credit…
Bad Idea: Paying Your Mortgage or Rent With Your Credit Card January 21, 2011 - 8:47 am
Struggling homeowners and renters may turn to their credit cards to pay their monthly living expenses – including the rent or mortgage. Statistics shows that more homeowners are making this decision. However, it may not be the wisest decision and you’re only postponing the inevitable when you rob Peter to pay Paul.
Only Charge What You Can Afford
One of the most important rules to follow is to charge only what you can afford to repay. Monthly mortgage and rent can be expensive. Odds are, if you have to put the charge on your credit card, you can’t afford to pay it. And if you can’t afford to pay it this month, what happens next month? Eventually, you’ll run out of room on your cards…
The Don'ts of a Credit Card January 15, 2011 - 8:32 am
There are a lot of things consumers know to do when it comes to applying for a credit card and for using one but rarely is it discussed the ‘don’ts’ of credit card applications and management. The ‘don’ts‘ are just as important as the ‘do’s‘ – maybe even more so. Unfortunately, it is a lack of understand of how credit cards truly work that get people into financial trouble.
Here is a look at some of the things you shouldn’t do when it comes to a credit card:
DON’T apply for multiple credit cards at one time.
Your credit score will take a big hit with too many inquiries for the same type of financing. You should first research the kind…
Are Credit Cards Dangerous? January 12, 2011 - 8:51 am
There’s a group of people who would tell you that you should never apply for a credit card. These people have often gone through credit trouble and believe that plastic is dangerous. Do your own research to figure out whether you should really stay away from them.
How Using a Credit Card Can Go Wrong?
Put almost anything in the wrong hands and it can become a dangerous weapon. The same is true of a credit card. If you’re not careful how you use them, you could easily charge up a balance that’s too high to repay. When your balance goes over your credit limit, you’re charged an over-the-limit fee. If you miss a payment because you can’t afford it (or any other reason), you’ll…
Why Your Credit Card Was Sent to a Collection Agency January 9, 2011 - 8:48 am
If a collection agency has contacted you about a credit card debt you owe, you’ve probably wondered why this company is calling you when they’re not the company you owe. Think back to the last time you made a payment on this credit card. Chances are, you haven’t sent payment to your credit card issuer for several months and that’s why you’re being contacted by a collection agency.
Collection agencies are third-party companies who have the sole purpose of collecting unpaid debts. Credit card companies often assign or sell their unpaid credit card balances to collection agencies after the debts go unpaid for a certain amount of time.
Collection Agency Assignments vs. Debt Sales
When credit card companies assign the debt to a collection agency,…
How to Recover From Credit Card Theft January 7, 2011 - 8:17 am
No one wants to deal with the unfortunate event of a credit card debt but when it happens to you is better to be prepared so you can act quickly to minimize the damage and clear your name.
Record Customer Service Phone Numbers
Now well you still have your credit card in your possession is a good idea to write down the telephone numbers of all your credit card company customer service. Keep these phone numbers in a safe place that you can easily retrieve them in case your credit cards go missing. If you don’t write these numbers down you have to spend time trying to locate the phone numbers for the customer service of your stolen credit cards after your credit card are…
How to Avoid Credit Card Fraud and Identity Theft January 6, 2011 - 6:30 pm
Author: Sufi M and his staff operate The Glaring Facts, one of the leading and densely populated websites involving psychology, media-related material, history of science, and money management. We are certain you will find something that will fascinate you.
Credit card fraud is one of the most leading issues in America today. According to the Unisys Security Index (March, 2009):
Credit and debit card fraud is the No. 1 fear of Americans in the midst of the global financial crisis. Concern about fraud supersedes that of terrorism, computer and health viruses and personal safety.
Naturally, one of the most devastating incidents that could happen to us is our identity being stolen, worse if it is used for huge monetary gain. This leaves you wondering:…
Apply For a Credit Card That Pays You Back January 5, 2011 - 8:53 am
Most people today carry at least one piece of plastic in their wallet and many carry multiple cards. If you are looking to apply for a credit card, why not choose one that rewards you? If you are going to be using credit cards to make purchases, you might as well get something in return. Choosing a rewards credit card can be more difficult than you might think. Here is what you need to know so that you can choose the perfect cad for you.
Different Cards Offer Different Types of Rewards
It wouldn’t make sense for you to apply for a rewards credit card that offered airline miles if you never fly anywhere and it also wouldn’t make sense to apply for a rewards…
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