A Personal finance blog for saving money and earning more and thus having a better life
Most Americans never seems to realize how much they lose over late payments for their credit cards. They will only realize when the credit card companies fights with them over their interest rates.
Personally I have been a victim of being charged high interest rates over just one late payment. My credit card company doubled my interest rates and piled huge fees on one late payment that I forgot to clear.
We get balance transfer card offers all the time. Unfortunately for those banks and fortunately for us, we do not carry any balance on our cards. We pay in full every month. For those who are already in credit card debt, this guest post from Joshua can be very helpful. Read and enjoy the post!
Have you heard of the balance transfer game? It seems to be all the buzz on several finance blogs that I follow and, rightfully so. Those who play the game and win…WIN BIG! But, those who play the game and lose…LOSE BIG! And in the game of personal finance, the difference between win and lose can be the difference between financial stability and financial hardship.
Credit card scam is a pretty broad ranging term which encompasses theft as well as fraud which are committed by a credit or any other payment mechanism that is similar to it. The definition is pretty straightforward.
If a card is used to obtain goods without the intent to pay for it or to obtain illegal funds from another account, then that is a credit card related scam. Contrary to popular belief, this isn’t something that rarely happens. In fact, it is a crime that’s quite prevalent worldwide.
It’s no secret that travel rewards cards are the most-appealing credit card options available to consumers today. And why shouldn’t they be? Free miles simply for making the purchases you’re already planning on making; where else can you get a deal like that?
That said, not every travel rewards card is created equal, and not every travel rewards credit card is right for everyone. When researching and applying for a travel rewards cards, there are a few things consumers need to consider.
Credit card companies use sign-up bonuses in order to entice new customers. Depending on the credit card market, sometimes you will find much more enticing sign-up bonuses than other times. A credit card company may dangle a sign-up bonus out there to convert a bunch of new customers, and then they may pull the offer depending on market fluctuation and other factors.
For example, Chase has re-released their stellar British Airways Visa Signature Card and the huge sign-up bonus that comes along with it: 50,000 Avios points just for spending $1,000 in the first three months that you have the card. If you spend an additional $20,000 throughout the year, that gives you 100,000 Avios points which is enough for two free round trip flights to Europe from the United States.
A balance transfer is where part or all of an existing debt is transferred from one credit card to another. This is normally done to save money on the interest you would normally have to pay with your existing card. Some providers offer cards that are designed for balance transferring and can provide you with little or no interest for a short period of time.
These cards can be very helpful in allowing you to organise your debts in the one place however be careful when choosing this as a debt consolidation option as the 0% interest rate is often over a fixed period of time e.g 12 or 24 months. You should carefully consider if this is realistically enough time for you to repay your debts in full.
I had previously wrote about how not to use credit card and how to handle a credit card. Here, I’ll talk about the pre-application process. Choosing the right credit card. When you decide to apply, what steps you should ideally follow to get best credit card? Or, how to get the best credit card is the topic today.
In today’s society credit card is becoming essential in our day-to-day life. It not only makes you lighter in your pocket, but also you have access to emergency money, whenever you need. Often credit cards can give you preferential treatment, specially at the airports. Lastly, the lure of rewards, if you can pay the full balance off every month. Wise use of credit cards increases your credit score and credit worthiness.
The following is a guets post from Alayna Frankenberry
Do you know how to handle your credit cards? Do you know what the seven deadly sins are? If you ever attended Catholic school, or if you’re a fan of horror movies and fashion editorials, you’re probably familiar with the religious belief that’s become a cultural trope. In fact, if you’re like most red-blooded Americans, you’ve likely checked at least three or four of the deadly sins off your list before it’s even lunchtime.
A credit card is the best money earning vehicle for some. At the same time, credit cards are number one reason for debt. The primary difference is knowing how to use credit cards to your advantage.
So far in my life I have earned thousands of dollars in cash back and rewards, while I never paid a single penny on credit card interest, fees or penalties. Apart from that I also follow another rule, I avoid store credit cards for their limited rewards and high interest rates.
This review will be third in series of reviews for products we use. The previous ones were Credit Sesame Review and Yodlee money center review.
I have used Chase Freedom credit card for last 5 years. First applied when the solicitation mail came in my mail box. That time card was offering 2% (sometimes more than 2%) return on all spending.
2% cash back was welcome break from my otherwise no-reward secured card from Bank of America. I readily accepted the offer.
