Posts Tagged With 'Credit Card'

Get Out of Credit Card Debt in 3 Years or Less

Posted by Gregory Young at Feb 17, 2011 | No Comments »

New credit card rules went into effect in 2010, requiring that your monthly credit card statement include important information about how long it will take you to get out of debt if you only pay the minimum payment and what payment you need to make to rid yourself of the balance in three years. This information is included on your statement for your benefit; use it to your advantage to help you put together an actionable “get out of debt” plan for the next three years.

Gather Credit Card Statements

The first step in getting out of debt is to face the debt. Gather each of your credit card statements. Identify the monthly payment amount you need to make on each credit card to pay it off in three years and write it down. Add up each of the payments to get the total figure you have to deal with on a monthly basis to finally get rid of your credit card debt for good.

The second step in creating your debt payoff plan ising to terms with paying off your credit card debt. You have to

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Tags: Credit Card Debt

Why Is It So Hard To Get Approved For An American Express Credit Card?

Posted by Anthony Jackson at Feb 15, 2011 | No Comments »

Visa, MasterCard and Discover fill your mailbox with credit card offers. You can’t log onto the Internet without pop-up ads encouraging you to apply for the latest cash-back or rewards credit cards. You’d think, then, that all you’d need is decent credit to qualify for consumer credit cards today.

Maybe … but not if you’re applying for many of American Express’ premium credit cards.

Try applying for the American Express Platinum or Gold Card. You might find that even if you do have a solid credit record, that American Express will send you a “No Thanks” after you submit your application.

Desirable Cards

These top-of-the-line credit cards are desirable. The American Ex

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Tags: Card Credit Card

Best Credit Card Practices Under the New Laws

Posted by Andrea Lewis at Jan 20, 2011 | No Comments »

In the past, the best credit card practices have mostly revolved around cautious spending. The recipe seems simple enough: use your credit card carefully, make your monthly payments, and keep your balance relatively low. That way you have your card if you need it and you don’t have to worry about going into debt.

In this day and age, though, credit card companies are — like everyone else — increasingly worried about the economy, and the new CARD Act doesn’t help matters. By limiting the cards’ abilities to make random rate increases, the Act has a number of creditors worried about their profit margins.

That could mean big problems for you — unless you know the best credit card practices.

1. Don’t use your card in unusual places.

It seems strange, but using your credit card somewhere you’ve never used it before can lead to its cancelation.

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Tags: Card Practices Credit Card Credit Card Practices Practices

How to Find the Right Credit Card for Your Lifestyle

Posted by Gregory Young at Jan 20, 2011 | No Comments »

Credit cardse in all shapes, sizes and flavors, but how do you find a credit card that fits the type of life you lead? Are you a jet-setter traveling to foreign lands? Are you trying to build your credit? Do you just charge purchases to rack up the reward points or cashback rewards? Whatever your goal, there is a credit card that works with you to meet your needs. Learn how to find it:

Building Credit

When you start your first real job and enter adulthood, you should think about building your credit file. Your parents may have carried you through college, but now it is time to fly on your own. Start slow so you can crawl before you walk. Secured credit cards are a good starting point for young adults managing their credit for the first time. Secured credit cards are just like traditional credit cards, only you must put down a security deposit (typically $200 to $500) as an assurance to the creditor that you will repay your debt. Read more…

Tags: Card Credit Card

Choosing Between Student Credit Card Offers

Posted by Andrea Lewis at Nov 27, 2010 | No Comments »

There used to be thousands of student credit card offers out there, all competing for clients. College students just had to walk on campus, fill out a form, and presto: a brand new credit card, no credit check or history required. These days, though, things aren’t so simple, and credit card offers are fewer and further between.

What happened?

There are a number of reasons that student credit card offers have slowed over the past year or so. The main two, though, are the economy and new federal laws involving credit cards, primarily the Credit Card Reform Act. While the Credit Card Reform Act is generally a good thing, it has made it harder for students to get credit cards.

In the past, companies were pretty reckless with student credit card offers. They knew most students would make a strong effort to repay their debts, that they’d accumulate a lot of debt, and that their parents would help them out.

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Tags: Card Offers Credit Card Credit Card Offers Offers

PNC Everyday Rewards Visa Credit Card Review

Posted by Anthony Jackson at Nov 27, 2010 | No Comments »

Verdict: The PNC Everyday Rewards Visa Credit Card has a lot going for it: It has a generous and flexible cash-back program, low purchase interest rate, introductory offer of 0 percent interest and no annual fee. But if you charge a lot every month, you might find yourself losing out on some potential cash-back rewards checks. That’s because this card puts monthly limits on the amount of cash-back bonuses it will pay you no matter how much you charge.

Overview: Like many rewards cards, the PNC Everyday Rewards Visa uses a multi-tiered rewards system, meaning that you’ll earn more cash back for certain purchases and less for others. The card also comes with an introductory interest rate of 0 percent for nine billing cycles.

How This Card Works: Every time you earn at least $100 in cash-back points, you’ll receive a check for that amount with your next statement. You’l

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Tags: Card Credit Card Visa Credit Visa Credit Card

Understanding Credit Card Rates and Fees

Posted by Andrea Lewis at Nov 08, 2010 | No Comments »

When it comes to credit card rates and fees, many of us are in the dark. We know that we have to pay an interest rate on money we borrow, and we know that we sometimes pay fees for credit card services – and that’s about it. So what do all of those little payments really add up to?

How credit cards work

Before you understand the fees associated with credit cards, you need to understand the business and the industry. If you’re looking for a short, easy to read overview of what credit cards are all about, I suggest browsing Credit Card Whiz Kid, which has all the information you could ever need about credit cards and credit card rates.

Types of fees

There are many types of credit card rates and fees. Here are some of the more common ones and what they mean:

-Annual fee: Paid on a yearly basis for the privilege of using the credit card.

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Tags: Card Rates Credit Card Credit Card Rates Fees

Can I Get a Secured Credit Card for My Small Business?

Posted by Anthony Jackson at Nov 02, 2010 | No Comments »

Q: I just started a small business and I’m looking to build credit, is using a secured credit card a good idea?

A: The answer to that question is “yes”. Your secured credit card may not actually say that it is a “business” credit card, and you may not be able to get some “business” credit card rewards or bonuses, such as double miles, extra points, discounts, and other things, but you can still get a secured credit card.

Getting a secured credit card can actually be an asset. For one thing, you will know exactly how much you have to spend, which should make you look harder for bargains and lower prices.

Secondly, with a secured credit card, you have access to your spending history. This will let you keep track of spending as well as what your balance is on the card.

If you see any unusual or suspicious entries on the credit card statement, you can instantly dispute them. You won’t hav

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Tags: Business Credit Card Secured Credit Card Small Business

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