Archives For Crdit card

Do You Need Store Credit Card? I Don’t

August 2, 2011 — 38 Comments

One of the life ruining financial decisions you could ever make is applying for store credit card. I know some people who fell for it and ended up giving out financial freedom.

You must have heard credit cards are dangerous tools to play with (Not Always). If banks credit cards are pistols, store cards are assault rifles, the kind Arnold Schwarzenegger used in Terminator.

How often you hear from the clerk at the counter offering you 10% off, 20% off or even 30% off just by applying for store card? Many of us do fall for this, actually $20 instant save on $100 shopping is too good to resist.

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In Credit cards, Financial tips
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Wise Use Of Credit Card Can Help You Avoid Debt

July 20, 2011 — 6 Comments

This is a guest post from Paris Mitchell who is contributory guest columnist for various websites and communities including Oak View Law Group. She has completed Masters in Finance and is currently working with an Investment company located in California. she has written many articles on topics like mortgages, refinance, credit-card-debt-consolidation, credit-card-debt-relief, credit-card-debt-settlement, bankruptcy, working from home, investment opportunities, etc.

Credit cards can apparently seem to be convenient for the consumers. But the susceptible consumers are exposed to high risks due to bad spending habits as they spend more than they can afford. A considerable number of US consumers have multiple credit cards, and each card has a large amount of outstanding dues on it. So, the debt stricken consumers opt for credit card debt settlement programs to pay off their owed amount.

The cardholders should get a formal training on personal finance management. This will help them to behave responsibly towards their finances and avoid debt that will lead to build a good credit score.

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In Credit Card Reward, Credit cards, Credit Score, Debt Relief, Financial tips , ,
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Credit Card or Debit Card

March 13, 2011 — 2 Comments

One very often discussed topics in personal finance discussion is whether to use a credit card or debit card. Here is how I handle my cards.

I have 4 credit cards Chase Freedom, American Express Gold, Citi Bank select platinum and Bank of America American Express platinum, also, I have BOF Visa Debit card. I seldom use debit card, as they do not give cash back or rewards. I did have ‘Auto Pay’ set up on all of credit cards where the entire monthly balance, what they call Total outstanding balance is deducted from my checking account, before they start accruing fees and interests. I do not have to remember to pay off the cards.

The other reason I keep 4 credit cards is I can build up my credit score by using them and paying the dues on time. When I first reached US, banks refused me to have any credit cards due to lack of credit history, I started with BofA secured card. Since then I applied for a new credit card each year. In 2005 I got my first secured card, 2006 got me my Citi card, 2007 I applied and got Chase Freedom. In 2008 I got an offer from BofA to convert secured card to BofA – American express credit card, which I gladly accepted.

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In Financial tips, Tools and services , , ,
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