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Are Credit Card Offers Really So Great
12:00:00 AM Tuesday, January 22, 2008
Credit card offers are everywhere. Without a credit card offer you can't rent a car or book a room even if you are planning to pay in cash! You can't get miles and hotels stays for free! Even when you go to the interview to get a new job, you will be asked about your credit history.
Today an average American carries from 8 to 10 credit cards in his or her wallet. But are credit card offers really so great? Of course, they give us a chance to purchase thing that we can't afford, they are easy to use and have great rewards programs, but they have several disadvantages that you need to know.
The main disadvantage of credit cards is that they lead us to temptation. Having a credit card in hands we feel a real buying power! Credit card users forget that the money on credit cards have to be repaid! We feel that we can get everything we want as a result in many cases people end up with bad credit history and with huge credit card debt!
It is obvious that all credit cards charge interest. Many credit card offers have 0% APR or 0% balance transfer for an introductory period, but after it is over, APR can go up to 39%! That's when the debt starts to grow rapidly! Some plastics, for example, rewards credit cards have particularly high interest rates.
There are many credit card offers on the market today. Credit card offers like hotel rewards credit cards, cash back credit cards, student credit cards and many others. It is very tempting for a credit card user to get more and more cards! Remember that 2 or three credit cards are enough! Too many credit cards can lead to a bigger debt.
Credit card companies play a great trick on most of the credit card users letting them pay only a minimum payment, which is about 3% of the balance.
My friend Betty was using her credit card every day. She thought it was O.K. to make a minimum payment regularly. In her mind it was fine as she was not missing any payments. Only in a year she finally realized that she was doing something wrong! She got in big financial troubles and now Betty is in a process of solving them.
Another disadvantage of credit cards is that they can be easily stolen! The credit card companies put the responsibility on card users, insisting that PIN details are never disclosed and the personal information is kept secure in the computers. Unfortunately, the thieves are trying to use more sophisticated methods to get the personal information of unsuspecting card holders.
Plus, some PDQ machines print the card number in full, so don't put the receipts in the same bag where you keep purchases! In case the bag is stolen, the thieves will also get your credit information.
Of course credit cards are more secure now as they used to be, but still you always have to watch out!
Credit cards can be very helpful, but you should take into consideration their disadvantages and use your plastics wisely!
kelly helton
01:49 PM, February 01, 2008
hi.
kelly helton
01:49 PM, February 01, 2008
i love hannah montana, kara, megan, ms long =)
NEWS about Credit Cards | >> View all News
Credit Industry Regulations
04:47:12 AM Thursday, September 04, 2008
The proposed in 2007 better disclosure laws for credit card terms were not enough, as was indicated by consumers' comments. This has led to the new and broader regulations proposed by the Federal Reserve in May 2008 which are coming into force, cracking down on the lenders predatory policies of arbitrary interest rates and excessive fees. The American Bankers Association representatives, as well as all major US banks, are growing uneasy about the inevitable revenue drop they'll incur as a result of the stricter legislation. They warn the Fed and scary customers with unintended impact on lending prices, meaning that once they cannot overcharge high-risk customers, they will shift all the costs on customers who can and will pay. They say to apply for credit will become much more expensive and less available.
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Mileage Credit Cards Review
06:26:05 AM Thursday, August 21, 2008
Owners of frequent flyer credit cards are developing the habit of playing the ever changing game of the airlines. US major airlines, such as US Airways, Delta and Continental are altering their miles programs and the result may be frustrating for most travelers. Among the recently made changes are a greater number of redeemable miles required, fewer bonuses and new fees.
Whether suchlike alterations hurt consumers has not been revealed yet as the number of mileage cards currently in use holds steady. For over three years that number has been around 45 million, according to The Nilson Report. While it's curious to observe future developments, let's lay out the specifics of the established new requirements. It may influence your choices when you decide to apply for a card online.
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Credit Score Analysis
05:35:53 AM Thursday, August 07, 2008
Some US credit consumers have recently found themselves confused after purchasing their credit scores at one or all the major credit bureaus - Equifax, Experian and TransUnion. Their confusion gets a vivid expression through the following question sent to us by one of our readers: "Your website puts the credit score range as 350-850; however when I requested my credit scores through TransUnion and Experian, the range was 501-990, which makes someone with a 650 credit score a poor credit customer. Is the info on your website outdated and how often do you update?"
In this article, we'll try to give a comprehensive explanation to this issue so that credit card applicants get a clear picture of their chances when trying to get a new credit card or another loan.
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