Which credit card is the best one for you?
Credit card companies are constantly bombarding you with their offers and you are completely confused and don't know which to choose???
Be sure that there are thousands of other people out there who feel the same. This lense will give you a lot of information on different credit cards and credit card providers, so that you can make the best choice.
Come in and find out which credit card is the best one for you!
Where to start?
What you should think of before applying for a credit card...
So you want to have a new credit card....but where should you start? Should you take the offer that was mailed to you yesterday?The first important advice that I can give you when it comes to credit cards is that you should shop around and compare different offers. his will save you money on interest and fees.
Also try to find some reviews of cards that you take into consideration online - you can learn a lot from the experiences of other people.
In order to find a credit card that matches your needs you should:
First, get informed about the credit card business:
° understand the features of credit cards
° understand how credit cards work
° know your rights when using your credit card
Second, think about your own needs and wants:
° be aware of how you will use your credit card (will you always pay your monthly bill in full or carry a balance,...)
° find out if a certain reward credit card of interest to you
Third, examine the cards that you have taken into consideration thoroughly:
° inform yourself about the APR = annual percentage interest rate. (Watch out! one credit cards might have several APRs)
° find out how many days do you have until you have to pay your bill in full without triggering a financial charge
° detect how your financial charge will be calculated
° get information on the fees associated with the credit card (annual fee, cash advance fee, late-payment fee, set-up fee,...)
° be aware of your credit limit
° find out about rewards or other features of the card
Nowadays it is very easy (too easy??) to get a credit card, but you should devote sometime to information gathering. It will pay off!
Where to find reliable information...
- The Federal Trade Commission
- On this homepage you will find a lot of articles on credit cards in relation with consumer protection.
- The General Accounting Office
- This government office issued a very interesting paper on advantages and disadvantages of credit cards for students.
- Identity Theft - What to do if it happens to you
- A guide for the victims of identity theft with a list of things that you should do immediately.
- Instant credit means instant identity theft
- A very good MSNBC article on identity theft.
Different Credit Card Types
They all have different costs and benefits that you should be aware of
- Airline Credit Cards
- For people who like to travel airline credit cards are deffinitely a good option.
While some are limited to a certain airline, you can choose whatever airline you like with others.
But be aware that you will get a free flight more easily if you get a credit card only associated with one airline.
Credit cards specific to certain airlines often also offer deals from partner car rental companies and hotels, allowing accumulation of even more points. - Bad Credit Credit Cards
- Don't despair if you end up with a bad credit - a bad credit credit card might be the answer to your questions.
It can help you rebuild credit history and improve your credit profile.
As you represent a greater risk to the credit card company they impose higher interests rates - so avoid carrying a balance on your bad credit credit credit card! - Business Credit Cards
- Having a business credit card if you are running a small business can have many advantages.
First, accounting will be much simpler than if you use a personal credit card for business purchases. Second, it allows you to build a credit history in the name of your business.
Third, you might be able to get wholesaler discounts that you wouldn't get with personal credit cards.
Fourth, many cards carry accident and travel insurance.
Cards with a small limit are good as a start. If you prove to be a reliable customer higher limits will be offered to you within the first months. - Charge Cards
- Credit Card vs Charge Card - What's the difference?
The crucial difference is that charge cards must be paid in full at the end of the billing cycle, while most credit cards allow you to carry a balance.
This is why charge cards usually have a very high or even no credit limit.
A charge card helps you keep expenses under control and avoid interest charges. - Store Credit Cards
- In the 1950s J.C. Penney was one of the first retail stores to issue credit cards and since then many other retail store followed.
What is the benefit for you? Store credit cards are usually very easy to get, they are a good way to establish a credit - however, they have lower limites and higher interest rates than major credit cards.
In most cases they give you points for every dollar spent that enable you to get some goodies.
Limit yourself to applying for one or two at the most in a 12-month period, or you might be seen as presenting a credit risk.
Reward Credit Cards - the Temptation
- Reward Credit Cards
- Today rewards are not an unusual feature of credit cards. However, there are many different types of incentives and so you should pick the one credit cards that has rewards that are interesting for you.
The classical reward schemes are: airline rewards, auto rewards, cash back rewards, travel rewards and retail rewards.
Recently credit card companies have started using even more appealing, unusual rewards: with Visa you can meet a rockstar and with American Express offers its clients a trip into space.
However, those kind of rewards are only designed for a lucky 1% of all customers.
Anyway, having a reward credit card that suits your needs can give you a lot of additional advantages.
The most popular Credit Card Issuers
Which one do you like best?
Credit Card Rewards - Rewards Credit Card
http://www.rewardcreditcardsite.com/0 points
Credit Card Fraud
what is credit card fraud and what can you do against it...
Credit Card Fraud starts when criminals steal your credit card or obtain your credit card information.A stolen credit card can be reported and get cancelled quite quickly, but if someone has just obtained your credit card information - possibly through an insecure website - you might find out weeks later. Only when you receive your billing statement you will get aware of the fraudulent use of your credit card.
In this case the thief will have got hold of your account information:
° name of card holder
° account number
° expiration date
° verification or CVV code
The popularity of internet merchants has led to an increase in credit card fraud. This is because in online transactions for buying goods or obtaining services the merchant cannot actually physically inspect the credit card but just has to rely on the account information given. Internet merchants therefore have to give their best to create a secure environment for credit card transactions.
Often the method of skimming is used by criminals. Hereby the a dishonest employee might manually write down your credit card information or use a magnetic stripe reader on a pocket-sized electronic device. Lately criminals have adopted a new method - they put the electronic card reader devices over the card slot of a public cash machine. Often a camera is installed simultaneously to get hold of the PIN.
In some countries cards with a special encryption are issued which prevents the card information from being copied.
In the US credit card fraud is said to reach into billions of dollars annually.
So, what can you do?
What the FTC recommends is to:
- sign your cards when they arrive
- carry the cards separately from your wallet
- keep a record of your credit card information in a secure place
- keep an eye on your card during transactions
- void incorrect receipts
- destroy carbons
- report suspicious charges immediately
- when you change address, inform your card company
- don't lend your card to anyone
- don't leave receipts lying around
- don't give your account number over the phone if you don't know the company
- don't sign a blank receipt
http://www.ftc.gov/bcp/conline/pubs/credit/cards.shtm
You should immediately call your credit card company if your card gets stolen of if you lose it so that it can get cancelled. If you have done that you are no longer responsible for unauthorized charges. You can also report fraud to the Federal Trade Commission if the value of the fraud exceeds $2000.
