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Finance
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Credit
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Credit Cards
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Platinum Guaranteed Credit Card - How Unsecured is It?
Typically, what bad credit consumers are finding online when they search for an instant approval or guaranteed platinum credit card, are "Shopping" cards. Unknowingly, many of these consumers apply thinking they are getting a true-to-life platinum credit card, because they are being marketed as a "Platinum Unsecured Credit Card". In actuality, these cards offer an "Unsecured line of credit".
How to find a good credit card
Selecting a credit card that works best for you is often as difficult as establishing credit in the first place. You have so many choices - most financial institutions offer co-branded Visa or MasterCard cards. In general, though, credit cards vary in least four aspects:
Don't carry a balance on credit cards
Surveys shows 50 percent of credit cardholders don't pay their bills in full or on time. More than 40 percent of credit cardholders say they don't know the interest rate on their cards. Suppose you carry a $1000 balance from month to month. That costs you $180 in interest a year if you have a credit card with no annual fee and an 18 percent interest rate. But many credit cards do have annual fees, especially the gold cards with the enticing travel rewards. You'll be astounded at what you pay once you factor in the fees.
Credit cards 101
If you're at least 18 years old and have a regular source of income, you are well on your way to qualifying for a credit card. If you've financed a car loan or other purchase, you probably have a record at a credit reporting bureau. This credit history shows how responsible you've been in paying your bills and helps the credit card issuer decide how much credit to extend.
0 Percent Interest Credit Cards - How to Avoid the Dangers
While banks and other credit card companies tempt consumers with 0 percent interest credit cards, it is important to thoroughly understand exactly how 0 percent interest works before applying. There are advantages to obtaining a credit card with a no interest introductory period. Nonetheless, there are also certain dangers. Here are a few tips to help you avoid the pitfall of no interest credit cards.
Finding the Right Credit Card
There are so many credit cards out there to choose from that deciding which one to get can feel really daunting. What makes one offer better than the hundreds of others you've seen? Take this little quiz to find out what you should look for in a card.
How To Pay Credit Card Debt Off
If you are determined to pay credit card debt off you are making the best financial decision of your life. The reason credit card debt is so bad is because it carries such a high interest rate. The quickest way to take back control of your finances is to pay credit card debt down or get rid of it completely. Here are the best and quickest ways for total credit card debt elimination.
Credit Card Debt: How to Get Rid of It
Credit card companies generally determine the minimum payment to be 2 - 2.5% of the outstanding balance. So if you owe $1,000, for example, your minimum payment will be 20 - $25 per month. Some part of that $25 goes to the interest on the balance, some to pay off the actual balance. How much goes where depends on the interest rate. Your credit card statement will give you the exact numbers.
Finding and Applying for the Right Credit Card Offer Online
With so many credit offers out there, you're sure to find one that can improve your lifestyle or benefit you in other ways. Always read all the information involved and make sure that the website you're exchanging private information with has a secure certificate (the gold lock) located on the bottom of your browser window.
Why Does Your Credit Card Rate Keep Going Up?
Have your read your credit card contract through completely? Do you know when it is okay for your creditor to raise your interest rates? If you are not sure about how and when your rates can be affected over the life of your contract you should take a few minutes to read your contract thoroughly from beginning to end.
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