Compare cash back credit cards

May 23, 2009 · Filed Under Credit Card · Comment

If you are shopping for a new credit card and you wish to make the best use out of it, you will want to compare the different credit card companies and see who is offering the best deal. You will also want to take a look at different cash back credit cards and determine which one offers the best flexibility in use for the best price. While you compare with different credit card companies, go through the cash back credit cards that allow the consumers to receive money back for making ordinary daily purchases and utilize their cards.

While going through the different cash back credit cards, review the fees structure thoroughly with different companies. There are some annual fees that most companies will charge, although some cash back credit cards waive off the fees entirely. Review the terms and conditions to know about the finance charges associated on these cards. There is certain charge of interest rates that you will have to pay if you carry over a balance on the card from month to month. The interest rate charged will be different from one card to another card when you compare the credit cards, so make sure that you have understood the companies terms and conditions clearly before you finalize one. If you go to the ATM and withdraw a certain amount of cash from your credit card account, you will have to pay a fee for utilizing those services. Make sure that you are aware of the charges when you are compare credit cards.

You will also like to know the grace period when you compare different cash back credit card offers. This is the time period within which you will pay the credit bill without incurring any interest and financial charges.

While you compare credit cards, you may want to carry over a balance from month to month. In that case, you will want to compare the APR charged by different credit card companies. This APR can be fixed or variable with different companies. Check out with different companies before going for one.

While you compare cash back credit cards, you will be planning to where to make the best use of the card. If you are going to use your credit card for dining and traveling purposes only, you will prefer a card that will offer some reward points in those areas. There are some house cards or retail cards that offer cash back rewards.

Flexibility is very important when you use these credit cards and earn reward points, especially if you are a frequent traveler. Bank cards, such as Visa or MasterCard can be used around the world.

Tags: Credit Card

How to avoid credit card fraud!

Credit card fraud is increasing in the age of rampant identity theft. Identity thieves will use a verity of techniques to get your personal information and open fraudulent accounts in your name. You can safeguard your personal information by following some easy and sensible guidelines.

Here are the do’s to keep your credit cards safe:

Get a post office box to receive any correspondences from your credit card companies instead of having them mail the documents to your unsecured mail box.

Shred all unused credit card applications and financial documents with a cross-cut shredder before throwing it.

Keep a note of all the credit card account numbers, expiration date, and contact information of the credit card company and store it in a safe place. In case one of the credit card gets lost, you will have enough information to reach to the credit card company with specific details.

Always check your credit card statements thoroughly. Report any unauthorized transaction(s) to the credit card company otherwise it might lead to a possible identity theft.

If you move, update your information with the credit card issuer. This is for security purposes.

Do not use multiple credit cards for making online purchases. It is better to have one credit card separate for such transactions so that you can keep a track of every transaction done on the internet by that card.

Keep a track of the purchases done by the credit card. This will help not only in knowing how much you are spending on that card in a month but will also help in finding out any disputed item showing on your statement.

Here are a few things that you should not be doing while using a credit card:

Don’t leave your credit card receipts lying around anywhere. It has your confidential information that can be misused by an identity thief.

Don’t leave any blank spaces when you are signing the credit card charge slip

Don’t not keep your credit cards in the open for someone to capture your information via camera or memory.

Don’t carry all the cards in your wallet. Leave those cards at home on which you will not be making any purchase.

Don’t loan your credit card to anyone.

Do not give out your credit card number to anyone on the phone even if the person claims to be from your credit card company. Reputed companies will not ask for personal information on the phone.

Don’t answer emails that ask for your credit card number and don’t click on any suspicious links sent in the email that asks to verify your personal and financial information. Such emails and website might be sent for phishing.

Don’t keep your credit cards and PIN numbers together in the wallet.

Tags: Credit Card, Credit card fraud

How to find the best credit card with a 0% APR balance transfer

November 20, 2008 · Filed Under Credit Card · Comment

When you are shopping for a credit card with a 0% APR balance transfer, you must look for the introductory offer on the card. You are getting more benefits if you have the introductory offer for a longer period. The introductory offer can range between three to twelve months. Your introductory period of 0% will be for a longer period if you have good credit ratings.

You should check for the annual fee before you go for the introductory offer balance transfer with a credit card company. There are many companies that charge their annual fee but in most cases, you should be able to get it for free.

There is a fee on the balance transfer at 0% APR. This is charged by almost all companies. This is a transaction fee for the balance transfers. This fee can be at a range of 3% of the amount of each transaction, and have a minimum. The maximum can go up to $100. Therefore when more than a certain amount of balance is transferred with these cards, the fee may be less than 3% of the amount of transaction. For example, when more than $7,500 balance is transferred to the credit card with a maximum of $75, the fee is $75.00 and less than 1% of the amount of transaction.

The 0% APR balance transfer card has the following features:

This offer can last up to 12 months.

There is no annual fee on the balance transfer

Balance transfer fee is 3% of the amount of each transaction with a maximum of $75.

These features on the balance transfer can save you a lot of money when you are paying high interest rates on other credit cards. Furthermore, if you consolidate all your balances into one credit card without a fee, and then transfer the consolidated balance to the credit card with a maximum of $75 on transfer fee, you still pay $75 towards the fee.

Tags: Credit Card

Have a proper knowledge of your credit cards

November 13, 2008 · Filed Under Credit Card · Comment

Credit cards are used by all almost everyone. If you have more than two or three credit cards, it is easy to treat them as plastic cash. You don’t have to worry about anything when you need to make a purchase. However, while using your credit cards, you must make sure to use it with complete responsibility so that you don’t face any potential troubles down the road.

credit-cards

There are many people who usually don’t remember how many credit cards they do have in their wallet. People often mistakenly assume that the purchasing power increases depending on the number of credit cards you possess. They also assume themselves to be a privileged customer when the credit card company calls them and offers a credit card. The truth is that the more credit cards you have and if you are not able to maintain it properly, you will have more negative effects on your credit ratings. Lenders will often assume that you owe some balance to each credit card company that issued you the card. It might be wise to close some of the cards that you don’t use at all. This will certainly help in increasing your credit scores.

Always watch your spending habits. If you purchase any item on credit, make sure that you will be able to pay the full balance within the due dates. If you pay just the minimum amount or a little more than that, the credit card company will be charging you a certain amount on interests and fees. This is how the credit card company will do business from you when the interest will be tacked on to what you owe.

Know the grace period on your credit card. This is the extra time you get after the date of purchase and before the payment due date. Many credit card companies offer a grace period of 20 to 28 days, however there are some companies that start charging interests from the day of your purchase.

Know the late fees charged by your credit card company if you are not able to make the payment on time. Many company charge $30 or more. Read the terms and conditions carefully before signing the application form. If you are not sure of the charges completely, you might end up paying huge amount just in interests and fees after the due dates.

Tags: Credit Card

Get good credit cards with excellent credit ratings

October 28, 2008 · Filed Under Credit, Credit Card · Comment

If you have excellent credit, you will easily get approved for one of the good credit cards. A lot of benefits come along with these good credit cards. Almost all lenders will be willing to do business with you because of your excellent credit ratings. They will offer you the most competitive interest rates in the market. Good credit cards with 0% initial APRs will be offered to people with excellent credit for longer initial periods.

Whether you apply for a new credit card, mortgage or a car loan, the lenders will go through your credit ratings and figure out how you had been making payments on different accounts and using it. The rates and terms of the loan are decided on the basis of your credit history. You will surely get good credit cards if you have excellent credit scores along with a lot of benefits.

Credit scores range from 300 to 850. Most of the people fall in the credit scores of 600 to 800. If you have credit scores of more than 720, then you will definitely get the best deals from different lenders. If your credit scores range between 620 to 720, you will still be considered to have a good credit rating and get a good credit card.

If you have an excellent credit history, you will be able to get a good credit card with longer introductory period. These credit cards use sliding scale APR’s and different 0 APR periods, and this allows them to approve people with different levels.

You should be able to save a lot of money just in interests over the period of time if you have got one of the good credit cards. Similarly, you will save a huge amount of money on any mortgage or any car loan that you may take out. This will keep your credit scores up. Make sure that you are making regular payments. Your credit scores will go down if you miss one single payment and not only that, the creditors will start charging higher interest rates. Do not take too much debt that turns out to be a burden to repay, and don’t apply for new credit too frequently as it is often harmful.

Tags: Credit Card