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February 8, 2010

Saving Money Through Cash Back Credit Card

Filed under: Credit Card — Tags: , — admin @ 2:56 pm

Credit card companies have been launching cash back credit card programs which look very enticing indeed.  This is especially very ideal for credit card users who are able to pay their entire credit card bills monthly as they will be able to enjoy this cash back deal to the fullest. Still with all kinds of programs that the financial companies are offering, you should not grab the first offer that comes your way because you could miss out  on better deals by the other companies which you did not bother to scrutinize.

Before, very few credit card companies dared to give cash back credit cards, thus, most individuals consider cash back credit cards as free cash which should be appreciated without too much question.  Today, however, almost all credit card companies are already offering this program and people no longer take it as simply a bonus from the credit card companies but as the most suitable type of credit card for clients who are big spenders and are able settle the entire used amount monthly.

When paying the bill in full every month the client will not have to pay any interest charges and therefore will not benefit from any offers that have something to do with lower rates or zero per cent interest rate.  This was an issue that the credit card companies recognized as they were campaigning for clients to pay their bills in full. And then, regardless if you pay your bills on an installment basis or in full monthly, credit card companies will still be earning from you for facilitating the credit card transactions using their credit card payment facilities.

Thus, today, the cash back credit card is not just a complimentary gift dispensed by the financial companies to benefit the client, but is actually a scheme to entice clients who are big spenders and good payers to continue paying their bills in full monthly as they could ultimately bring them big revenues.

In this case, you have to carefully choose which among the credit card companies are giving you the best deal as far as cash back credit card is concerned.  Do some research online and look at the offers of all the companies offering this benefit.  A lot of times, online companies are offering much better cash back returns than those that you find in the mail.  Spend sometime to analyze their offers, accomplish the online applications and see if you can get a better deals with these cash back credit cards rather than those offered by the standard financial companies.

January 26, 2010

The Purpose Of Lifetime Balance Transfer Credit Cards

Filed under: Credit Card — Tags: — admin @ 4:40 pm

The reason to use lifetime balance transfer credit cards is to get out of credit card debt. You have probably looked at your mountain of credit card bills, especially those store cards with their exorbitant interest rates and wondered how you wound up in so much debt. The first answer is overspending, but the second is interest.

Take almost any credit card and you will see that you are spending upwards of 15% on interest alone. Add to that the fact that interest compounds and your balance can easily multiply from the amount you actually spent.

There is only one way to get out of credit debt and that is to pay off your balance. Of course, paying off your actual balance is difficult when interest fees add up at such an alarmingly fast rate. This is the purpose of lifetime balance transfer credit cards, to save all that interest money.

By moving your balance or balances over to a lower rate interest card you can reduce the amount you spend on those fees by hundreds if not thousands of dollars. That makes your monthly payments lower and frees up cash to kick toward your bill. Paying off your bill faster saves money on interest charges.

The reason to choose lifetime balance transfer credit cards over a zero balance transfer has to do with the amount of debt that you carry. If it is substantial you probably can not pay off your debt within the six or twelve months that the zero interest period lasts on those cards. Once that period is over the rates jump right back up, probably close to what you were paying on the old card. That is no way to save money. The lifetime card remains at a low rate until that balance transfer is cleared.

Lifetime balance transfer credit cards:

* Low interest rates that are either fixed, meaning they remain the same all the time, or variable, meaning they stay low but adjust with the market rates.
* Faster pay off means more savings. These cards still accrue interest, just at a slower rate. Even though you have a long time to pay off your debt you will maximise your savings by setting up a budget to pay it off as soon as you are able.
* Never miss payments. One of the things that trips people up are the terms that come with a credit card. Usually if you slip up and miss or make a late payment you will not only get hit with a fee but you will lose your low interest rate. Do not do this, not ever.

It is easy to save money with lifetime balance transfer credit cards. All you have to do is decide that you are ready to stop paying high interest rates and start paying off your debt. Make the transfer and save the cash, it is really just that easy.

February 10, 2009

Pre-paid credit cards

Filed under: Credit Card — Tags: , , , — admin @ 12:02 pm

Do you want the security of a credit card without the interest rate every time you need to use it? All of the interest rates on a regular credit card can bring you down in debt if you don’t watch what you spend your money on. Some cards offer no interest rates until a certain year, or if you refer a friend you get something, but do you want to refer a friend to an 18.9% interest rate? No one wants to bring a friend into debt, but with the pre-paid credit cards, you don’t have to worry about that.

Pre-paid Credit Cards

Pre-paid Credit Cards


January 1, 2009

Know about Credit Cards

While using Credit Cards offer numerous benefits, one needs to be careful on choosing a credit card and should understand the right way to spend thru it. Improper usage or spending beyond your limit may lead towards debt. Although a credit card offers the advantage of paying the dues in small amount or a minimum payment, the card holder should understand that paying just the minimum amount due would take years to clear off the dues.

Shopping and Safety

Credit Cards are widely used for online purchases or conventional shopping expenses. It eliminates the need of carrying cash which carries the risk of burglary. Even if you lose your credit card, the Credit Card companies offer the convenience of immediately calling them and disable the particular card. You may no longer be liable for purchases made after reporting the loss of card.

Money at the time of need

Credit Cards offer the benefit of withdrawing money from ATM which is of great help when you are outta money. Even If you don’t possess enough money you could still afford to buy your desired products through a credit card and pay money after few days (next billing cycle).

Reward points

Most of the credit cards offer flashy gifts which could be purchased thru the Reward points. When you make a purchase through your credit card, you gain some reward points. Based on the number of reward points you have, you could redeem it to buy gifts offered by your Credit Card Company.

Choosing the Right Credit Card

Choosing the right credit card is a chaotic job for any greenhorn. You need to compare various credit cards offered by different companies. You need to analyze the APR (annual percentage rate), interest free period, Cash Advance facility, Balance Transfer facility etc.

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