Holiday shopping season means a lot of fun! It also means high profits for the merchants and big spending for the customers. Another side of the fun is that often customers fail to plan all their purchases wisely - in advance. Impulsive buying is what may lead to sad financial stories...
Both retailers and consumers are excited about the upcoming holidays. Really so! It all begins with celebrations and happy days but is all (way too often) differently. While the sales industry is happy with all the money it has earned, most of the people remain with huge unpaid bills that need to be paid.
Credit Card Financial Dependence
Traveling with Credit Cards
Some people view a credit card as form of unpleasant financial dependence. Not only personal dependence, but a country's financial dependence as well.
It is a well-known fact that credit cards came from the West. Having conquered the developing countries, the West has become the leader. It was back then - by the means of force, it still is today - thanks to the use of some other strategies. One of which is - a credit card. Back then these forced countries were called colonies; today we just call it - developing countries.
The Empires have always needed colonies to feed them. Seems like one of the best contemporary ways to carry this out is a credit card system. Just take a look at how rapidly MasterCard, American Express, and Visa are being introduced to the lives of people. Even in such places of the world where people need to be fed much more than to have a plastic card in their pockets! Go you to Costa Rica - credit cards are no wonder over there. Credit cards are surprisingly widespread in many places of the world. It's an intricate question - are the poor developing countries ready to be in such a way ruled over?
Good Credit Cards
Credit Card Rewards
So you want a rewards card, huh?! If you have a good credit score and are the owner of excellent credit then you are probably able to get instant online approval for many of the best cash rebate credit cards on the market.
You are most likely a person who has neglected to get in trouble by missing payments or sending them in late and you have shown that you are responsible not only in your credit endeavors but in your rent payments, phone bills and any other bills that are in your name. Because of all your hard work keeping your credit in good standing you are able to cash in with the great credit cards and rewards cards now. All you have to do is look!
If you have good credit then you are probably already being drowned in credit card offers. Credit cards offering frequent flier miles, balance transfers, no annual fees and cash rebates are filling up your mailbox and you have a trash can full of unopened envelopes because you just cannot possibly open all of these offers.
Credit card companies are clawing over each other for your business because someone with good credit is sought after like nothing else! But because everyone is requesting your business, you may want to consider taking advantage of the great cash back credit cards or rewards programs out there which actually benefit you every time you use your card! Hey, you earned it, why not take advantage!
Insurance With Credit Cards
Understanding Credit Cards
Credit card deals nearly always offer credit insurance protection. It's an option that some people need and some people don't.
Credit protection insurance makes your credit card and other loan payments for you if something happens that keeps you from making them. Some people call it payment protection insurance, and it can keep you from financial disaster if something unexpected happens that keeps you from working.
There are two major types of credit protection insurance: credit disability and credit life insurance.
If something happens that keeps you from working for a period of time, credit protection insurance makes the minimum monthly payment on whatever credit card balance or loan you purchased it for. That's usually 2%-3% of the balance, and it's probably less than you would normally pay. It does, however, satisfy the credit card company and prevents late fees and increased interest rates from being added to your account.
Credit life insurance pays your loan or credit card balance off if you die. That keeps your family from having to assume your debt after you are gone.
Getting Lower Interest Rates
Choosing Credit Card
When discussing money low usually isn't a good thing, unless you're talking about interest rates! Everyone loves low APR credit cards because low rates essentially mean less money out of the pocket! So why doesn't everyone just get a low interest credit card? Well for starters, you need a good credit history (those with bad credit histories are usually regulated to credit cards for people with poor credit) and you need to have some initiative. Credit card rates won't just drop by themselves; they'll need a little bit of prodding! Most people don't realize the power of asking for what they want!
It has never hurt to ask for a better interest rate
Most people will say they feel too pushy if you ask why they don't simply call their credit card company and ask flat out for a lower APR credit card. This is why most people are stuck paying hundreds in interest charges alone! Asking your credit card company or lender for a better rate and a good credit card can work, but you'll need some leverage to work off of. Your main leverage will have to be your credit score/ history.
Credit Insurance
Security and Protection
While insurance usually isn't a topic that most people like to talk about, it is often a necessity that needs talking about! Most people think of car insurance and expensive health and medical coverage when they think about the different types of insurances on the market. However, there are a number of people who are starting to see the benefits of something called credit insurance (otherwise known as credit protection). This is an affordable solution to the high charging insurance competitors.
What is credit insurance and how can it influence my financial life? Credit insurance is basically a coverage that comes along with many good credit cards and many instant approval credit cards. The insurance usually covers your minimum payments if something goes wrong (usually 2-3% of your monthly bill). In the case of death, your unsecured credit card debt would be paid in full. Now it doesn't matter if you're looking for a student credit card, a small business credit card or a ‘normal credit card'- you can get one with an insurance policy that will save you money!
Find A Credit Card
Credit Card Rewards
Your credit score is good, you have good credit history, and you've always paid your bills on time. You don't go over your limits. And for this, what do you get? A dozen credit card offers a week, all marked "You're Pre-approved!"
It looks like junk mail, and in truth, much of it is. Maybe even most of it. But pay attention! Some of these are good credit card offers that you can use to your advantage. After all, you've worked hard at establishing your good credit history, so why not make the most of it? Let those credit card companies come to you and compete for your business. The important thing is to figure out which perks you need and which ones you don't, and choose the card that best suits you.
There are a million different programs that the lenders offer, all in the hopes of getting your business. You might get frequent flyer miles, hotel rooms, cash back rewards, discounts on DVDs and other merchandise, trips, mutual funds, and everything else. All of this is so you'll choose their card and use it frequently. Most of these perks can be separated into two classifications: cash, and rewards.
Credit Cards And Cash Advance
Using Credit Cards
Consider your credit card. It's a great tool, isn't it? With it, you can purchase things you want or need even though you can't yet afford to pay for them. It's more secure than checks or cash, and even if you're far from home, you can still use it. Some credit cards even have rewards attached, and there are cards for every situation -- credit cards for people with no credit history, cards for people with bad credit, even for people with bad credit scores.
On The Guard of Credit Score
Understanding Credit Cards
No matter how great of a card holder you think you are or what your credit history/ scores are there may be a time in your financial life when you have to file a credit complaint. A credit complaint is defined as being the direct dispute between you and your lender/ credit card company/ bank. You file the complaint with any federal enforcement agencies that help enforce consumer protection laws.
Credit Scores and Terms
Understanding Credit Cards
A credit card is a way of borrowing money that brings charges of its own with it. The terms of the card impact your total cost. It's smart to examine the credit card charges if you apply for credit.
Here are some vital terms that usually have to be given to you up front when you apply for credit, or when you get good credit card offers in the mail. You should also ask about these terms when you're looking for a card.
