Posted on 7/20/2009 - Filed under Credit Card News

With the changing credit industry, some fees are popping up that may be new to you. On the other hand, there are some fees that have been around for awhile but that you might not be aware of.

Knowledge is key when using credit cards, and knowing what to expect with the fees involved can make a big difference. Here are five credit card fees you may not be aware of, but should definitely know about.

Foreign Currency Transaction fee. If you travel abroad and swipe your card, the company may charge you a fee for the currency exchange that takes place. So if you head to Europe and make a purchase there, you can expect the charges to be a bit more on your credit card.

Balance Transfer fee. Many cards let you bring over a balance from a previous card. In these cases, however, there are sometimes fees involved. Look into this before you make the transfer. You may find that it is still to your advantage to do the transfer, or you may conclude that you’d rather take a different route to get rid of that debt.

Annual fee. Some reports say that more and more card issuers are tacking on an annual fee to their cards. If you’re not sure if your card charges an annual fee, you’ll want to find out. You can then decide if the extra cost is worthwhile. If you’d rather avoid it, look for a card that advertises no annual fee.

High late fees. You can expect to pay a late fee if you miss the due date for your payment. If you’re not sure what it is, find out. Then do all you can to make sure you send in payments on-time.

Registration fee. Not all cards come with this, but some types, such as bad credit credit cards, often charge a fee for signing up. If you’re looking for a new card, check for a registration fee, as well as all other fees involved with the card. By finding out, you’ll be better prepared to take on the card and manage it as best as you can.

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Posted on 7/15/2009 - Filed under 0% APR Credit Cards

If you’re applying for a new credit card, you’ll want to make sure you can get the most out of it. Most cards these days offer a 0% APR introductory period. This means that you will not have to pay interest on the balance for a certain period of time at the beginning. Here are four ways to take advantage of those interest-free months.

Give yourself a loan. If you want to make a bigger purchase, like a flatscreen tv, use the card for it. Don’t make any other purchases. Find out how long the 0% APR lasts. Divide the number of months by the total purchase amount. Now you know how much you need to pay off each month to get the balance down to zero by the time the zero percent interest period ends.

Transfer a balance. Some, but not all, 0% APR credit cards offer a 0% APR on balance transfers as well. So if you have lingering debt on a different credit card, you can bring it over to the new account. Pay it off during the interest-free period and you’ll save yourself a bundle in interest fees.

Practice good management. If you’ve had trouble with credit cards in the past, now is your chance to train yourself to use them wisely. Make a small purchase each month and pay it off right away. This will teach you to not carry a balance. And with the 0% APR as a backup, if you slip one month, you won’t have to pay steep interest charges to make up for it.

Enjoy the benefit. Chances are, if you apply for a 0% APR credit card and get approved for it, you’ll be able to use that benefit to your advantage in one way or another. Take some time to sit down and think about how to make the most of your new card. Doing so will help you come up with a plan. Follow the plan and you’ll enjoy the card, both during the 0% APR period and beyond.

Click Here To Apply For A 0% APR Credit Card

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Posted on 7/11/2009 - Filed under Credit Card Management

What do credit cards and a budget have in common? A lot, actually. They both can have positive, or negative, impacts on our finances. The best way to keep both of them in check is to have a plan. Here’s how to set up a budget that will benefit your finances and your credit cards.

Track what comes in. How much do you make each month? Is it a steady paycheck or does it fluctuate? Take some time to look over how much income you received during the last three months. Or start keeping track today and watch the money that comes into your checking account for the next few months. This will give you an idea of just how much money you have to work with each month.

Make a list of expenses. Where does the money go? Write down your expenses for each month, including mortgage or rent, utility bills, entertainment costs, and groceries. This will help you understand how your money is spent each month.

Bring in the Credit Cards. Do you carry a balance each month on your credit cards? If so, look over how much you owe. Think of ways you can reduce certain expenses in order to pay off those balances. By looking at how much money comes in and how much goes out, you’ll know the amount that is left over for other things.

Tie it together. Use the information you’ve gathered to form a budget. Plan out the amount of money that you’ll spend on certain items each month. Work in your credit card expenses to the budget. By doing so, you’ll be able to stay on top of your finances and your credit cards.

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Posted on 7/1/2009 - Filed under Credit Card News

You’ve probably heard in the news recently about all of the changes going on in the credit industry these days. New legislation may lead to adjustments that affect the market for many years to come.

So where do you fit into the picture? Maybe you’re carrying more credit card debt than you’d like to. Or perhaps you’re shopping for a new card and having troubles getting approved for one. And maybe, just maybe, you haven’t felt any effects from it.

Whatever the case, experts are encouraging consumers to use this time as a chance to reevaluate their credit standings. Are there some old debts you need to pay off? Work on getting rid of them. Are you getting the most out of a rewards card that you’ve had for a few years? Start racking up the points and keeping track of them. And if you just got a credit card, check to see if it has a 0% APR period. You can use this time to make purchases without having to pay interest. Just be sure to pay off the balance before the regular interest rate kicks in.

Taking good care of your credit cards and managing them wisely will help you get through the future, no matter what changes come about in the credit industry. You’ll be able to keep using your credit cards, making purchases, and paying them off in a timely manner. All of these will work to your advantage, even in a changing credit industry.

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Posted on 6/27/2009 - Filed under Credit Card News

In some parts of the country, recent reports have come out about consumers receiving misleading phone calls about credit cards. Some of these are from companies that offer to help consumers negotiate lower interest rates for their credit cards. While it may sound appealing, these companies often charge high upfront fees, making the consumer pay much more for the process than they save in interest charges.

If you receive a phone call of this nature, the best solution is to simply hang up. If you’re concerned about your credit card fees or interest rates, call the credit card company directly. You can also go online in many cases to view your account and see where it’s at.

Telemarketing scams can often sound like a good deal, but the ones that get hurt in the end are usually the cardholders. To avoid falling into this situation, take charge of your finances and credit cards. Be careful about giving out personal information. Only do so if you know you are speaking with a trusted source. If you have any problems, call your credit card company and ask to speak to a representative. Tell them about your situation. They may be able to help you get things straightened out, or set you up with a new card.

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Posted on 6/21/2009 - Filed under Credit Card Applications

With so many credit cards available, it can be hard to narrow down the options. If you’re looking for a new card and are having trouble finding the perfect one, take a step back and think about your spending habits. Read through the criteria below to see what type of credit card would be best for you.

Frequent traveler. If you travel for business or pleasure on a regular basis, look for a card that will reward you for your time on the road. Some offer points that can be turned in for airline tickets. Others tack on rewards for hotel stays, gas, and even restaurant outings. Use the card when you travel and you’ll be able to cash in the rewards on an upcoming trip.

Big spender. Rather than paying for your monthly expenses with a debit card, try using a cash back credit card. Use it for your regular purchases at the grocery store and gas station. Then pay off the balance each month. Over time, you’ll earn cash back that you can use toward holiday shopping or a fun splurge.

Penny pincher. If you’re looking for ways to save money, try a card with a low interest rate. That way, if you do run a balance for a few months, you won’t be charged high amounts of interest.

Recovering credit. For those working their way out of bad credit, credit card issuers offer a number of options. Look at the cards listed under the bad credit credit card category. They charge some additional fees, but can be used to help you work your way toward a higher credit score.

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Posted on 6/15/2009 - Filed under Credit Card Rewards

Are you getting the most rewards from your card? While many issuers currently offer rewards credit cards, the terms and conditions, as well as the fees, vary greatly.

If you have a rewards card, or are currently looking for one, now is a good time to do some evaluating. Here are three guidelines you can use to make sure you’re getting the most out of the card.

Find out how the rewards are distributed. Will the points be credited to your account? Will you receive a check in the mail for the cash back that you earn? Find out how the rewards are sent out. If the system looks like one that will work for you, that’s a good sign. If it sounds too confusing to follow, look for a rewards program that is more in tune with your needs.

Look at the interest rate. Many rewards credit cards come with a higher interest rate than other cards. If you regularly pay off the balance each month, this will not affect you. If you do carry a balance from time to time, however, make sure the APR is not too high. If it is, you’ll end up paying more in interest than you receive in rewards.

Consider the fees. Most rewards cards charge some sort of fee, and you’ll want to know what’s all involved with your card. If it seems too expensive, check for options that charge less money in fees.

Click Here to Review Rewards Credit Cards

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Posted on 6/14/2009 - Filed under Bad Credit Credit Cards

If you apply for a bad credit credit card, you can use it to rebuild your credit score. This may sound like a great idea, and it does work in many situations. However, you’ll want to be well informed before you apply for one. Here are some of the fees you can expect to encounter with many bad credit credit cards.

Registration fee: This comes when you sign up for the card. It can vary from card to card, but this is usually a one-time charge.

Annual fee: You may have to pay a certain amount every year for the account. This fee can also vary from card to card.

Monthly Servicing fee: This is a charge that is sometimes referred to as a maintenance fee. It is usually issued on a monthly basis. You pay it so that you can continue using the card.

While these may seem steep, keep in mind that bad credit credit cards are designed for those who need to rebuild credit. Using them does bring a number of benefits, including the fact that they usually report to major credit bureaus. The credit bureaus take the information they receive and use it toward your credit score.

So if you apply for a bad credit credit cards and pay the dues, you can work yourself into a much higher credit bracket over time. When this happens, you can look into applying for a different credit card.

Click Here To Review Bad Credit Credit Card Offers

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Posted on 6/9/2009 - Filed under Credit Card Debt

News headlines are bringing up the topic of debt and credit cards on a regular basis. If you currently have problems with debt or with your credit card balance, now may be the right time to correct your situation. Here are three ways to get your debt under control now.

Look into the options. Things are changing in the credit industry, and this may mean that you have certain options that you didn’t have before. Call your representative and ask for help if you need to pay off a high balance or have lingering debt.

Be a good manager. Getting out of debt is easier to do with a solid plan. To set up a system that works for you, start by looking at the total amount that you owe. Then divide it into areas that you can focus on. Start by paying off the debts with the highest interest. Once you pay off one balance, move to the next one. Set aside time each week to look over your finances and try not to make quick decisions when it comes to buying new things.

Focus on the Future. Working your way out of debt can take time, even years. The key to getting out of it and staying out is sticking to a plan. Keep focused on a brighter credit future. Take charge of your finances and watch your credit score improve. In time, you’ll feel more in control of your finances and have the score to prove it.

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Posted on 6/7/2009 - Filed under Credit Card News

A recent report found that consumers are receiving less credit card offers in the mail. The offers that do land in their mailbox, however, often contain an annual fee.

What does this mean for you? It means that if you are looking for a new credit card, you should consider looking online rather than in the mailbox for offers. By searching online, you can find a wide variety of options. Some of these will come with an annual fee, but others will not.

If you find a card you like that charges a yearly fee, you should look at the other features of the card. It might have a strong rewards program that will bring you enough benefits to justify the annual fee. At the same time, you may find that you’d rather apply for a card that doesn’t have any fees attached to it.

Whatever the case, you should always check the fine print listed with a credit card before applying for one. You might find that it has more fees than you want to pay. At the same time, you may realize that it is just what you are looking for.

So next time you’re shopping for a credit card, check all of the fees and fine print. If you’re not sure what something means, find out before you apply. When you have a good understanding of what the card offers, compare it to others that have similar features. Then apply for the one that will work best for you and your financial situation.

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