| |
| |
|
Kellys Credit Information |
|
|
|
Your Guide On Choosing a Credit Card To Suit You
Reach into your wallet or purse, pull out a card, swipe, and you're done. It is very easy to use a credit card. The problem lies in choosing a card - and it has nothing to do with the picture on the front! Choosing a credit card that works best for you is vital to your credit rating. If you choose incorrectly, you may find yourself in deep debt trouble. Here is some basic, yet extremely important, information that will help you make the right choice. Your Money Handling Habits Choosing a credit card that is perfect for one person may be a dismal failure for you because your habits are different. When it comes to choosing your credit card, you need to look very closely and honestly at your habits. For instance, do you typically carry a balance or do you pay off the card at the end of each month? If you answered "yes" then you will need to shop for: # A low Annual Percentage Rate (APR). The APR the interest rate you will pay on any outstanding balances each month. The higher the rate, the more you will pay in interest charges. # A fixed-low rate. This means that they will guarantee that your rate will stay low. Oftentimes, a company will offer a low introductory rate to get you signed up and then increase the rates drastically in 3, 6, or 9 months. The problem with a guaranteed rate is that an annual fee often accompanies it. You will need to decide if the lower interest rate guarantee is worth the cost of the annual fee. If you will be paying off your card at the end of each month, you will not have to worry as much about a low APR since you will not be using it. And with no need for a guarantee, you may be able to avoid yearly fees. However, you will want to be sure to get a card with a grace period. # Grace Period: Be careful to get a card that allows you to pay off your bill at the end of the month with no finance charges. Those that don't offer the standard grace period begin charging you interest the moment you make a purchase. # Cash Advance Fees: Be aware that most cards charge interest, and sometimes at a higher rate, for cash advances and this charge begins with no grace period even if your card offers a grace period for purchases. You also need to decide how reliable you will be when it comes to paying on time and keeping yourself under the card limit. If you are often late paying your bills or often do not know how much credit you have left, you will want to watch out for transaction fees and other charges. Many card companies charge a late fee and an over-the-limit fee. These can be substantial. Your best bet is to pay on time and keep under the limit, however, finding a card with lower charges is a good idea. Here is another important question to consider when looking at your money handling habits: Do you use the card rarely, occasionally, regularly, or frequently? Those that use their cards for just about everything instead of using cash or checks will want to look for credit card protection. This way, if you lose your card or it is stolen, you will not be responsible for any purchases made. Finally, consider the different benefit programs that cards are offering. # Do you travel? Then consider a card with frequent travel miles as a reward. Or perhaps one that offers traveler's insurance. # Do you use your card for large purchases like electronics? You may want to consider credit card insurance that will replace your equipment for a specified period of time if it breaks down or gets stolen. # Are you saving to buy a new car? There are cards that offer new car rebates. # Do you have a favorite charity? Many cards now support specific charities, universities, and organizations by paying the entity a specific amount with each purchase you make. What matters most is to find the features that fit your pattern of spending and paying. Don't get fooled by the gimmicks or the advertisements. Know your spending habits, look at the small print, and choose the card that is best for you. With all the different cards available, you will be able to find the right fit for you. Wesley Atkins is the owner of http://www.credit-cards-advisor.com- which aims to get you fitted with the best credit cards to suit your situation. With numerous credit card articles and easy online credit card applications you will never choose the wrong credit card again.
MORE RESOURCES:
Credit - Google News |
|
|
|
RELATED ARTICLES
Credit Card Balance Transfers Explained What is a balance transfer ? A balance transfer can be explained simply as a balance transfer! When a balance is transferred usually from a credit card, but possible from a bank account or loan to a credit card with a offer interest rate (usually 0%) for a set period. It does not have to be the entire amount. What Is A FICO Score? A credit score is most commonly known as a FICO score. FICO stands for Fair Isaacs Corporation. Collection Agencies: What Do They Do? Collection agencies are businesses that collect past-due bills and accounts receivable for other persons or businesses in exchange for a fee. Collection agencies charge for their services one of three ways:1) A flat fee. Credit Card Shocker Have you ever looked at your credit card statement? I'm not talking about just making sure that all the transactions are correct. I'm talking about looking at the finance charges. Credit Card Balance Transfers Can Help You Stop Putting Money Down The Drain As you probably know, interest rates are at all time low right now and if you aren't getting the best deal from your credit card company then they owe it to you to either lower your rate, or you owe it to yourself to find a better deal. You see, credit card companies need your business in order to succeed and if you refuse to pay a penny more than you have to then you'll be doing yourself and others a big favour indeed. How Does a Creditor Determine Whether to Grant You Credit? Credit 101How does a creditor determine whether to grant you credit? For many years, creditors have been using credit scores and credit scoring systems to determine if you'd be a good risk for a loan or credit card. More recently, credit scores have been used to help determine what rates you pay for insurance. Good Credit Is a Necessity for Everyday Living Most of us want a good credit report to obtain vehicle financing, credit cards for emergencies and luxuries, and to finance a home mortgage. However, beyond these consumer loans, a great credit report makes your life easier. How To Eliminate Credit Card Debt There is almost nothing more troublesome than having too much debt to pay each month. Consumers incur debt for many different reasons. Credit Cards Credit cards are a form of unsecured credit. The issuer is extending you a line of credit, usually tacking on all sorts of little surprises in the fine print. Finance - Money, Money Finance is a big word for some of us. It's a little scary. Taking Control of Your Credit History Your credit history is important; in fact, in this day and age, only family and your time are more important than your credit history! The first time you established a payment commitment over a period of time for a purchase, you began your history of credit, and the credit bureau created your account. Payments such as the electric company, a rental agreement, a cell phone, a car payment or a low-rate credit card which you also have a responsibility to repay are not reported to the credit bureaus as a part of your credit history. Commercial Collections: Business Finance Booster Shot Commercial collections: fixture of the new B2B cultureIf you're in the business-to-business field, or even if you're a consumer products business that works through third-party distribution channels, you probably know what it's like to check your mail anxiously each day, sifting through all the bills for that payment that was supposed to have been in months ago.It wasn't supposed to be like this. How To Choose Your Credit Card Application The articles and tips provided on this site are intended to help you access credit card offers that suit your lifestyle. By providing you with some basic information, we are confident that you will be able to easily identify which are the best credit cards for you. Can Credit Search Entries Affect Your Ability to get Approved for a New Loan in the UK? About Search Entries:Every time a lender checks your credit history from your credit file (i.e. Credit Report Secrets: Do You Know What They Reveal? If you've ever applied for a credit card or loan, you've probably had your credit report reviewed by the lender. Your credit report has a huge impact on your financial future, so it's well worth your time to be sure that you understand what your credit report says about you. Good Credit is King, When Qualifying for Mortgage Programs If you want to purchase a new home or refinance your current mortgage, be sure to check out the wide array of loan programs available. If you have less than excellent or even poor credit, you can still qualify for a loan. Why Your Credit Score is Important Your credit score can either haunt you or reward you. It all depends on how you handle your credit and payment activities. How Creditors Measure Your Credit Rating Creditors will measure your credit rating based on the following three main things.CapacityCollateralCharacterThe three "C's" show creditors your:"Capacity" or income to pay the debt"Collateral" or assets to secure the obligation"Character" shows your compliance to repay the debt1. What is the Check 21 Act? Check 21 is the common name for the Check Clearing for the 21st Century Act. It's new legislation that was recently passed by congress and made a law when signed by the President of the United States (remember "I'm just a bill" from Saturday morning cartoons). Student Credit Cards 101 Almost all students have and use student credit cards. Some of the students use them wisely and build for them an early credit history but others accumulate lots of debts that would have to be paid off once the student life is over.
|
| home | site map |
| © 2006 |
