Posted on 5/31/2009 - Filed under Cash Back Credit Cards

Want to know what’s really in store with a cash back credit card? These cards can certainly bring you many advantages, but the key to making the most of them is to understand what you’re getting. Here are five terms to watch for before you apply for a cash back credit card.

The words “up to.” You’ll often see the phrase “up to 5% cash back” in this type of card’s description. This means that you will earn 5 percent back when you’ve spent a certain amount of money with the card. Say this amount is $3,000. After you’ve spent $3,000 with the card, you can expect to get 5 percent cash back. Before that, the percentage you earn will be less than 5 percent.

Limits. Some cash back credit cards include limits on the amount of rewards you can receive each year. Check the fine print to see if the one you’re considering does this. If you think you’ll go over the maximum amount listed, look for a card that advertises no limits on the rewards earned.

Expiration dates. Once you earn the rewards, you can cash them in or redeem them. In some cases, the card will include a period of time, usually between 1 and 3 years, during which you must use the rewards you have coming your way. If you don’t use them, you lose them. So check what the time period involved is, and then use it to your advantage.

Good or Excellent Credit. The majority of cash back credit cards are geared for customers who have a strong credit standing. If you have a solid credit history, you shouldn’t have any problems getting approved for the card. If your credit could use some work, look for a card that is better suited to your financial situation.

Interest Rate. Like many other cards, cash back credit cards often include a 0% introductory rate in the beginning. After a certain amount of time, this changes and a regular rate sets in. You’ll want to check what this is before you apply for the card. Once you know what it is, you can better plan for future use of the card.

Click Here To Apply For A Cash Back Credit Card

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Posted on 5/31/2009 - Filed under Credit Card News

Some consumers have recently noticed that their credit card company increased the interest rate on their credit card. If this has happened to you, you might be concerned about the change.

You also may be wondering about what’s behind the rising rates. There are a few reasons for it. For starters, the current economy has caused a number of changes in the credit market. Companies and lenders are getting tighter about their lines of credit. This change in the market affects many consumers, including credit cardholders.

If the rate on your credit card has recently changed, you can take a number of actions. Start by calling your company and asking about the change. They may be able to give you a better rate.

If you don’t usually carry a balance, the interest rate change won’t affect your account. If you do carry a balance, you can work on paying it off. Then keep the balance at zero to avoid further charges.

Interest rates may be up for some time, but they will eventually go down again. If you really want a lower rate, you can look into applying for a card that offers a 0% APR introductory period. This will give you some breathing room when it comes to avoiding those high rates on credit cards. You can also continue to manage your current accounts well to stay on top in the credit card world.

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Posted on 5/26/2009 - Filed under Discover Card

While many credit card companies have changed some of their policies due to the economy and pending government regulations, Discover has appeared in the news as a company that offers a number of advantages for its customers. If you’re looking for a new card, you’ll want to take Discover credit cards into consideration. Here are three reasons why they might help you out, given the current economic situation.

You get to choose the date. Is paying at one time of the month better than another date for you? With Discover, you can call the company and ask to have the date set when it is most convenient for you. So if you want to pay your credit card bill right after you get your paycheck, you can schedule it to work out that way.

Statements sent out on time. Discover usually sends out its statements 25 days before payment is due. This gives you a good amount of time to receive the statement and make the payment, without any extra hassles.

Easy to pay. With Discover, you can send in your payment on the day it is due. If you get it in before 5 p.m. ET, the company accepts it for that day. If you want to pay by phone, you can do so without any extra cost. This is a solid feature, given that some card issuers do charge for phone payments.

In addition to these benefits, Discover offers many rewards programs to choose from. As one of the pioneers of the rewards program, it has experience when it comes to offering customers plans that they will benefit from.

Discover is not for everyone, but in today’s economy, if you are looking for a new card, you may find that it has some benefits that work for you.

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Posted on 5/21/2009 - Filed under Credit Card Management

We all know that spending more than the limit on your credit card can bring trouble to your account. But just how much is too much? While there is no perfect answer, many experts advise that you stay under 50 percent of the limit. Others encourage you to stay even lower, with a goal of no more than 30 percent.

How does that work out? If you have a credit limit of $10,000 on your credit card, you’ll want to try to spend only $3,000 before stopping. If you spend more, such as $5,000, you’re already using 50 percent of the limit on the card.

If you’re not sure what your credit limit is, now is a good time to find out. Before you make another swipe with your credit card, look for ways to make a smart purchase and pay off the balance.

When you run your balance past the 50 percent mark, you fall into danger of seeing a drop in your credit score. While this may happen in an emergency situation, it should not be a regular occurrence. If you do go over 50 percent, simply take a step back and work on ways to reduce the balance as quickly as you can. By doing so, your credit score will recover quickly and you won’t have any lingering debt on your card.

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Posted on 5/21/2009 - Filed under Credit Card Management

Credit: it’s a hot topic in today’s media.

Whether you’re working on getting back into the credit world after bankruptcy or simply want to make the most of your credit cards, chances are there’s room for improvement. Use this checklist as a guide to help make sure you’re managing your credit cards in the best way.

Check the rewards program. Does your card have one? If it does, are you using it? You may find you have rewards on your card, just waiting to be cashed in. Or you might learn about places you can shop where you’ll earn extra rewards. Whatever the case, find out what your card offers. Then work on using it to your advantage.

Know your APR. Your card may have a high interest rate, a low one, or one in between. Regardless, you’ll want to know what yours is. This will help you evaluate the costs involved when you want to make a bigger purchase. It will also help you calculate how much you’ll be paying in interest for balances carried from month to month.

Read through the statement. When your statement arrives, read through all of it. Or get online and take a thorough look at your account. Make sure you have a clear understanding of what it says, including the fine print.

Understand the billing cycle. Does your card have a grace period? If it does, how many days is it? The grace period is the amount of time you have, after making a purchase, to pay it off before interest is charged. If your card has a grace period, use it to your advantage. Try paying off the balance before the interest charges kick in.

Make on-time payments. This is a key strategy to having a long-term good credit standing. When you pay on time, every month, you’re making a commitment to your credit card. And you’re managing your finances in a smart way. So pay on time, each month, and your score will reflect your diligence.

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Posted on 5/15/2009 - Filed under Credit Card News

If you’re planning to travel abroad this summer, you’ll want to know what’s in store for you when it comes to your credit card. Recently, some credit card companies have increased the rates they charge for international use. While this doesn’t mean you should avoid using your credit card while trotting the globe, knowing what you will be charged can help you plan a budget for the trip.

Discover just started charging a new 2% fee for international transactions. American Express upped its fees from 2% to 2.7%. Citigroup changed its policy, which now includes a 3% charge for foreign purchases made in U.S. dollars.

Not all credit cards carry fees for international usage, however. Capital One, for instance, does not currently charge fees for foreign transactions.

So before you head out the door, check to see what your credit card will charge. If you’re not sure what the cost will be, contact the company and ask. You may find out that some of your cards charge higher rates than others. If this is the case, try using the cards that charge the least when traveling.

Before swiping the card, calculate how much you’ll be charged for the transaction. In doing so, you’ll know what to expect when you see your next credit card statement.

The credit card industry is changing, and these new rates will probably be around for awhile. In most cases, the charges won’t significantly impact your vacation budget. Knowing what to expect before you go, however, can help you figure out which cards to use during your getaway.

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Posted on 5/10/2009 - Filed under Credit Card News

Want to add an eco-friendly credit card to your collection? Then check out one of Discover’s latest cards. Known as the Biodegradable Discover More Card, this card is made from an eco-friendly material. It will break down 99 percent within five years in landfill conditions. It has no toxic, lasting effects on the environment.

In addition to lending a helping hand to the environment, the Biodegradable Discover More Card comes with other benefits. Here are three things you may not know about the card.

Rewards program. The Biodegradable Discover More Card comes with a program that allows you to earn up to 5 percent cash back. You’ll earn 5 percent cash back when you make purchases from certain categories, such as travel, gas, restaurants, movies, and others. You can earn up to 1 percent on other general purchases as well. (You’ll receive the full 1 percent cash back after you spend an initial $3,000 with the card.)

Double cash back. If you redeem your rebates for gift certificates from participating Discover Card Partners, you can earn up to double the amount of cash back. You can learn more about Discover’s partners by checking out the Discover website.

Intro APR. The card currently comes with an initial 0% APR period that lasts through December 2009. So if you need to make a couple of purchases and want some time to pay off that balance, you can do so with the card.

Click Here To View The Biodegradable Discover More Card

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Posted on 5/7/2009 - Filed under Balance Transfer Cards

You may have seen advertisements for balance transfer credit cards. These cards let you bring over a balance from one of your current credit cards. You can then pay off the amount on the new card, usually at a lower interest rate.

This can work out really well if you have some debt you’d like to get rid of. In order to make the most of a balance transfer credit card, however, you’ll want to know some things before you apply. The following information will help you find the right balance transfer credit card.

There may be other benefits. Using a balance transfer credit card to pay off an existing balance is a good perk. Before you apply for one, check for other benefits. You may be able to get some cash back or enroll in a rewards program.

There are fees involved. You can expect to be charged when you make the balance transfer. This is usually a certain percentage of the amount transferred, such as 3 percent. Some cards include a cap, like $75, for the fee. Others do not have a cap, so check to see what’s involved before you apply.

The intro APR will expire. Most balance transfer credit cards come with an initial 0% APR. This may apply to new purchases, or the transferred balance, or both. After awhile, a regular interest rate will kick in. You’ll want to make sure this APR is less than what you are currently paying on your existing balance.

You may be charged a higher APR for purchases. Balance transfer credit cards are usually set up so that if you make a new purchase, your monthly payment will first be applied to the purchase, and then to the transferred balance. If you start shopping right away with the card, you’ll have to first pay off the new balance. After that, you’ll pay off the old one. This can take awhile to do, so you may want to cut back on your shopping and pay that balance off first.

It’s still a credit card. After you pay off the balance, you can keep using the card just like you would any other credit card. Add it to your wallet, and use it in a way that works best for you and your financial situation.

Click Here To View Balance Transfer Credit Cards

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Posted on 5/4/2009 - Filed under Credit Card Applications

The instant feature in instant approval credit cards can be a very appealing benefit. All you need to do is fill out an application. When you send it in, you’ll find out right away whether or not you’ve been approved.

To make the most of this feature, you’ll want to do some legwork before you send in the application. Here’s what to do to make sure you get a green light when you apply for the card.

Know your score. Credit card companies usually do a quick background check on your credit score when you apply for an instant approval credit card. This means that if you have less than stellar credit, you may not be approved for the card. On the other hand, if your score is solid, you can expect to be approved right away. So find out where your credit stands before you apply. If it needs some help, work on bringing up the score before you apply.

Gather the needed information. When you fill out an online application, you’ll be asked for a number of things, including your name, address, and some financial information. Have all of this right at hand, so that when you sit down at the computer, you’ll be equipped and ready to go through the process.

Find the right card. Not all credit cards are the same, even when they are grouped in a similar category. Look through the various benefits each card offers. Then choose the one that will work best for you.

Do some planning. Do you know how you’ll use the card? Think about the cards you already have, and what kind of purchases you plan to make with the new one. Take some time to figure out how you’ll use the card once you have it and you’ll receive more benefits.

Click Here For Instant Approval Credit Cards

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Posted on 5/3/2009 - Filed under Credit Card Rates

Is the interest rate on your current card too high?

Some credit card companies have recently raised the rates for their customers. If this has happened to you, or if you simply feel like the interest rate you have right now is more than you would like it to be, there’s good news. There are still cards available that have a lower interest rate.

Besides a kinder APR, you can usually find other advantages in a low interest credit card. Here are a few of the side benefits you can expect to receive when you apply for one:

You’ll save money. If you regularly carry a balance, the charges you’ll pay out in interest can add up fast. With a low interest rate on your card, you can end up saving a substantial amount of cash. You could save several hundred or even thousand dollars during the course of one year.

0% APR Introductory period. This is a nice benefit, and one that comes with many credit cards. In addition to having a regular low interest rate, you can start off without having any interest charged to your account when you make a purchase.

Additional benefits. Many low interest cards come with extra features, including rewards programs, the chance to transfer a balance, and much more. Look through the card’s terms and conditions to get a good idea of what all comes with the card. Then, if the interest rate is right, fill out an online application and get the card right away.

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