Top 7 Factors to Consider While Reviewing Credit Card Offers
Credit cards have migrated from being hip or convenience product into a must have entity for everybody. Shopping Online you need a credit card. Wanna book a weekend rental you need a valid card to pick one. In order to register as a valid seller in many online sites you need a card. Like this the credit cards have evolved from being just convenience items into something you got to have or you will be denied many services. There is a lot of money being made by the credit card industry. Everything you buy has a credit card fee attached to it. If you pay by cash you still paying those fees since the merchants don't offer a discount for cash or check payments. They are willing to pay the 2-3% charge to the credit card companies than give it back to you. If you are not using a credit card as your main payment method and enjoying the convenience it offers you are paying for nothing.
The cards come now-a-days not just loaded with a variety of features but they also come in many shapes and colors. Have you seen the new discover cards? Well let's take a look at the important features you should evaluate the credit cards against.
1. The credit limit: This is the amount you are allowed to spend using the card. Be careful while choosing the right amount. This is important in two angles; the first is how much purchasing power you are willing to guarantee to pay back. The other is what your spending style is. Many folks don't know that reaching close to your credit limit is not good for your credit history. Are you a responsible person and wanted to keep the limit low but you use up 90% and constantly pay every month? You may want to increase your limit so that your credit score is not affected by this usage pattern.
2. APR: This is the interest rate you have to pay for the amount you owe in the credit card. Obviously look for the best rate you can get. Regularly contact the customer service to bring down the APR. These companies increase it regularly; you should contact to keep it at the same rate.
3. Annual fees: This should be zero.
4. Online payment option and activity checking: You should choose the bank that offers a good and comprehensive online tool to check and evaluate your use. They should give you features like auto payment options. This is a lot useful as you will have a way to check the account usage. If you are planning on a shared card it is a must have to monitor.
5. Late Fee and additional charges: Although being late is bad, you will end up atleast once a year being late to pay the dues. You may want to make sure they don't add it to your credit history even for one late payment. And the fees! yeah check out the agreement.
6. Rewards and additional benefits: The current trend is offering cash back on purchases or points for purchasing with preferred vendors. This is free money as well it is a better way to save on the purchases you are anyway going to make. The additional benefits include insurance coverage, miles and more. Evaluate these carefully as they may be worthwhile.
7. Read about the reviews: Although you can evaluate the card by yourself, you may want to read about what others have to say about the card. It is these review sites that shed some light on the crappy customer service or the hidden charges. You should and must employ the many review websites to choose the best card that fits your need and lifestyle.
Don't forget those fraud protection capabilities that come with the card. You don't want to be stranded because someone misused your card and you are stuck in nowhere land without any money.
Here is one good website for credit card application and to read about the reviews. http://www.smartcardshopper.com
Author does freelancing through the no fee free freelance website freelancefree.com.
MORE RESOURCES:
Dana Holding Corporation CFO to Present at 2008 Credit Suisse ... MarketWatch - will participate in the annual Credit Suisse Global Automotive Conference in New York, NY Dana will provide access to a webcast of Yost's presentation, ... Tenneco to Webcast Presentation at2008 Credit Suisse Global ... |
Be Prepared for Arguments and Snooping When Sharing Credit Card ... MarketWatch - AUSTIN, Texas, Aug 27, 2008 (BUSINESS WIRE) -- Nearly one in five people who share credit card accounts say use of the accounts has sparked arguments with ... Pay Down Your Consumer Debt |
New Arizona law on credit freezes taking effect CNNMoney.com - NEW YORK (Associated Press) - Arizona consumers are gaining a new shield from identify theft: the ability to impose low-cost freezes on their credit reports ... |
TCM Bank, NA Selects Cypress Software Systems' Mark IV to Automate ... MarketWatch - "There aren't many application processing solutions that could handle our needs, but Cypress' Mark IV offers the flexibility we require to manage credit ... |
Hawaii credit unions: $7.6B in assets Bizjournals.com, NC - Credit unions in Hawaii reported $7.6 billion in total assets in the first six months of the year ending June 30, up 6.4 percent over the previous six ... |
Group wants homebuyers to use new tax credit Atlanta Journal Constitution, USA - By touting the new $7500 refundable tax credit contained in the massive housing-stimulus bill President Bush signed last month. The credit expires July 1. ... |
S&P cuts Radian Group's counterparty credit rating CNNMoney.com - NEW YORK (Associated Press) - Credit ratings agency Standard & Poor's on Tuesday night cut the counterparty credit rating on Radian Group Inc. to junk ... S&P Downgrades Units Of Three Mortgage Insurers S&P downgrades Teekay over acquisition debt |
Dallas-area electricity customers to get a credit on their bills ... Dallas Morning News, TX - By ERIC TORBENSON / The Dallas Morning News Power customers are likely to receive a one-time credit of $12.58 from their retail electric providers thanks to ... Oncor to mail $72 million in credits to consumers Oncor Customers To Get Piece Of $72 Million Credit Oncor Begins $72 Million Payout to Consumers |
Fitch Releases US Term Credit Action Report July 2008 MarketWatch - NEW YORK, Aug 27, 2008 (BUSINESS WIRE) -- Fitch Ratings recently published its latest US Term Credit Action Report July 2008. In July 2008, Fitch issued ... |
 Boston Globe | Credit Crisis: Government role? Seattle Post Intelligencer - We don't like the idea of saving individual investors, but we recognize that the mortgage twins are essential for the flow of credit to ordinary homeowners. ... CREDIT CRUNCH: FDIC, BLACK LIST US BANKS UP TO 117 Credit crunch: List of at-risk US banks increases sharply as ... Credit crunch hasn’t hit bottom, FDIC says |
The Hitchhiker's Guide To Insanity
A new sickness is plaguing the UK called Denial. Denial has resulted in a national personal debt of almost £1.
Credit Report - Check Yours Regularly - and for Free
In the twenty-first century, there are few documents that have a greater impact on the lives of Americans then their credit report. Credit rating determines one's ability to buy a home, a car, or to obtain a credit card or a job.
Make Sure Your Credit Report Is Correct to Improve Your Interest Rates And Lower Insurance Premiums
Did you know that you could make sure to get the best rates on your auto and homeowners insurance simply by having a good credit score.Additionally a great credit score will allow you to get the best interest rates on your credit cards, car loans and even your home mortgage.
Beat Credit Card Companies at Their Own Game!
Have you ever wondered how much money a credit card company makes? Have you ever wondered how much of that comes from late fees? Everyone has and if you haven't you should because most likely you own a credit card, which means that these late fees has or could directly affect you.As you have probably taken notice, credit card late fees are on the rise and have been so for awhile.
The Things That UK Lenders Like to See on Your Credit File, (and? What They Don't Like to See!)
Lenders are quite fussy about what they like to see on your credit report. So much so that you will have a hard time to meet their high expectations.
Credit Problems? Heres How to Manage Your Creditors
If you find that creditors are calling you almost daily or that one of more of your bills has been turned over to a collection agency, you should know how to manage your debts.First, prioritize then or rank them in terms of the ones that can give you the most trouble the soonest.
Saving Money: Quick Cash, High Cost
I didn't think it was possible. But it is.
The Three Largest Factors In Your Interest Rate
There are three major factors that affect how much you pay for a loan. Understanding these factors can save you time, money and frustration.
Consumer Credit Reports
A consumer credit report is a factual record of an individual's credit payment history. It is provided for a purpose permitted by law: to help a credit grantor or lender quickly and objectively decide whether to grant you credit.
Beginners Guide to Credit
I remember back when I was 18 and completely oblivious to the concept of credit. It seems like eons ago! If only I had known then what I know now about credit.
Bankruptcy Myths Busted
The average American knows very little about bankruptcy. Most people probably are aware of bankruptcy's ability to dissolve debt and give the debtor a fresh start.
10 Tips To Prevent Credit Card Fraud
Imagine opening your credit card statement one morning and discovering to your horror that you suddenly owe thousands of dollars - on purchases that you never made.Impossible?Credit card fraud on the rise, so you need to treat your card and its information with extreme care.
Beware the Shopping Mall Monster
Like me, you've probably been offered a fair old number of these by now..
Good Credit is King, When Qualifying for Mortgage Programs
If you want to purchase a new home or refinance your current mortgage, be sure to check out the wide array of loan programs available. If you have less than excellent or even poor credit, you can still qualify for a loan.
Sound Advice For First Time Credit Card Users
If you are just entering the world of credit cards, there is important information you will need to know in order to manage your credit and your finances effectively. Establishing good habits and a good credit history now is the foundation for a solid financial future.
The Exact Action To Take When You Find Errors In Your Credit Report
There are times when you may be turned down for credit and you do not understand why.According to the Fair Credit Reporting Act you are entitled to a free copy of your credit report if you have been denied credit because of negative items on your credit report within 60 days of the request for credit, if you are unemployed but looking for work, are on state benefits, or believe that your credit report is incorrect because of fraud.
Credit Reporting: How Does It Work?
In order to determine a consumer's credit worthiness, creditors and lending institutions have come to depend on credit reporting agencies. Credit reporting agencies supply individual reports that provide consumer specific information for lending purposes.
Finding and Applying for the Right Credit Card Offer Online
Anywhere you go online nowadays, you will see a multitude of ads for credit cards. Some offer low interest rate for an introductory period, or bonus frequent flyer miles while others offer real discounts on new vehicles and equipment.
Rebuild & Keep Good Credit Ratings by Understanding Your Credit Cards
Secured Credit Card is similar to a prepaid credit card since the funds you are using are actually yours and not the issuer of the credit card. Generally people who apply for secured credit card or prepaid credit card are people with poor credit or unemployed.
Building Business Credit
Most businesses want to be able to borrow money when they need it, without the owners having to guarantee the loans personally. This means less risk to the owners.