What is a ‘good credit card deal?’
You must have heard people say – ‘I got a good credit card deal’. So if you happen to be looking for a credit card at that moment, do you just go with what your friend has told you as a good credit card deal?
Let’s check what one can term as a good credit card deal. A credit card deal is good if it works for you. So, if the credit card fits into your lifestyle in a way that rakes in maximum benefits for you, that is a good credit card deal. The most important thing to realize here is the word ‘your’ as in ‘your lifestyle’. So logically speaking there is nothing like a good credit card deal. What it is - is good credit card deal for ‘you’ i.e. the individual who is going to use that credit card. This is because the lifestyle and the needs differ from person to person (and that is precisely the reason why every credit card supplier offers so many different kinds of credit cards). It might be true in some cases (where the lifestyle of two individuals/friends is similar) that the credit card deal which is good for one be good for the other too, however, this is just in a few cases.
You can always check with your friend who has recently got a credit card deal, since that might cut down the time needed for researching/hunting-for a good credit card deal. You also can browse the internet for various benefits offered by the credit card companies. However, it’s really a matter of evaluating your own needs. If you travel a lot and to far off places by air, a card that offers you good rewards/rebates/benefits on travel would comprise a good credit card deal. Sometimes the airlines themselves have their own credit card issuing/supplying company from where you can get a good credit card deal. For people shopping at a particular retail store or a shop, a good credit card deal would be a card that offers discounts, rebates and rewards on shopping. Again, the retail stores themselves might have credit cards on offer that could be beneficial to you. Then there are credit card deals that are linked to gasoline stores or big grocery chains. If you don’t have any specific needs, you might use a general purpose credit card that gives reward points on every purchase you make on your credit card. These points can then be redeemed for cash/rewards. Hence, this card could become a good credit card deal for you.
In conclusion, good credit card deal is really a relative term and there is no credit card deal which is equally good for all.
Friday, August 20, 2010
Thursday, August 19, 2010
Credit card rate
Credit card rate
What is the thing that is most common shown on any credit card advertisement? Well, it’s the credit card rate (or the APR, as we know it). The credit card rate is the most publicized thing in the world of credit cards. A lot of people just compare the credit card rate of various credit cards and just go for the one that is offering the lowest credit card rate (or APR). Credit card rates are, in fact, one of the most important factors in the selection of a credit card (though not the only factor). Therefore, a proper understanding of credit card rates is a must.
So, what is a credit card rate or APR? Very simply, credit card rate is the rate of interest that the credit card supplier will charge you with on the amount you owe them. The credit card supplier will charge you an interest only if you don’t make full payments in time. When you receive your credit card bill, it specifies the full amount you owe the credit card supplier. It also specifies the minimum payment that you must make (by a particular date), in order to avoid incurring a late fee and other inconvenience. You have the option of making either a full payment or just the minimum payment. If you make a full payment (by the due date), you are not charged any interest. However, if you decide to go with the minimum payment or some amount that is lesser than the full amount, the credit card supplier will charge interest based on the credit card rate and the balance amount. This credit card rate is the interest rate that you agreed with them at the time of applying for the credit card. The credit card rate or the annual percentage rate, as is obvious, is an annual interest rate. The credit card suppliers use this annual credit card rate to calculate the monthly credit card rate and then they calculate the interest on the balance amount that you owe them. The balance amount here is simply = Full amount – (payment made by you). This interest is added to your balance for the next month (at the time of next billing cycle). If you again make a partial payment, the new balance is calculated again and the credit card rate (monthly one) applied to it for calculation of new interest; and it keeps going on and on until you make the full payment.
That’s how credit card rate acts in this vicious circle. Hence, credit card rate is termed as the most important consideration in choosing a credit card.
What is the thing that is most common shown on any credit card advertisement? Well, it’s the credit card rate (or the APR, as we know it). The credit card rate is the most publicized thing in the world of credit cards. A lot of people just compare the credit card rate of various credit cards and just go for the one that is offering the lowest credit card rate (or APR). Credit card rates are, in fact, one of the most important factors in the selection of a credit card (though not the only factor). Therefore, a proper understanding of credit card rates is a must.
So, what is a credit card rate or APR? Very simply, credit card rate is the rate of interest that the credit card supplier will charge you with on the amount you owe them. The credit card supplier will charge you an interest only if you don’t make full payments in time. When you receive your credit card bill, it specifies the full amount you owe the credit card supplier. It also specifies the minimum payment that you must make (by a particular date), in order to avoid incurring a late fee and other inconvenience. You have the option of making either a full payment or just the minimum payment. If you make a full payment (by the due date), you are not charged any interest. However, if you decide to go with the minimum payment or some amount that is lesser than the full amount, the credit card supplier will charge interest based on the credit card rate and the balance amount. This credit card rate is the interest rate that you agreed with them at the time of applying for the credit card. The credit card rate or the annual percentage rate, as is obvious, is an annual interest rate. The credit card suppliers use this annual credit card rate to calculate the monthly credit card rate and then they calculate the interest on the balance amount that you owe them. The balance amount here is simply = Full amount – (payment made by you). This interest is added to your balance for the next month (at the time of next billing cycle). If you again make a partial payment, the new balance is calculated again and the credit card rate (monthly one) applied to it for calculation of new interest; and it keeps going on and on until you make the full payment.
That’s how credit card rate acts in this vicious circle. Hence, credit card rate is termed as the most important consideration in choosing a credit card.
Wednesday, August 18, 2010
Bad credit credit card
A bad credit credit card
“Bad credit card card” is used to refer to credit cards that can be obtained even with a bad credit rating. The bad credit card cards provide an opportunity to people (with bad credit rating) to improve their credit rating. You also can say that bad credit credit cards act as rescuer for such people. So, bad credit credit cards also act as necessary a training ground for people who have not been able to control their spending urge in the past.
Bad credit card cards are commonly known as secured credit cards. The bad credit card card (or secured credit cards) requires the individual to open up an account with the credit card supplier and maintain some cash balance in the account. What is the reason of this? Credit cards are a business for the credit card suppliers; so how can they trust someone who has defaulted on his/her payments in the past? After all, a business is about profits and such risks are a threat to profits. The bank or the credit card supplier will generally pay interest on the balance in your account. However, it’s best to check this with the bad credit card card supplier/bank. The credit limit on the bad credit card card is determined by the cash balance in the account and is generally between 50-100% of the cash balance. Some people refer bad credit card cards as debit cards, owing to the fact that they work less in a credit-giving manner and more in a debit-giving manner.
There are a lot of bad credit card cards available in the market. When searching for the bad credit card card that is best suited to you, you should study 4 things in particular: the minimum balance that you are required to maintain in the bank account, the credit limit that they will provide it to you (i.e. the percentage of your bank account balance that you are allowed to spend on your bad credit card card), the fees/other-charges applicable to the procurement of bad credit card card and the rate of interest that you will receive on the balance in your bank account. An ideal bad credit card card would have no fee/other-charges associated with it and would require zero or a very small amount as minimum bank balance. It would also have something like 90-100% of bank balance as its credit limit. Moreover, an ideal bad credit card card would also offer a good interest rate on the bank balance.
Bad credit card cards are really a good concept that provides respite to people with bad credit rating by letting them enjoy the benefits of credit cards while they mend their credit rating.
“Bad credit card card” is used to refer to credit cards that can be obtained even with a bad credit rating. The bad credit card cards provide an opportunity to people (with bad credit rating) to improve their credit rating. You also can say that bad credit credit cards act as rescuer for such people. So, bad credit credit cards also act as necessary a training ground for people who have not been able to control their spending urge in the past.
Bad credit card cards are commonly known as secured credit cards. The bad credit card card (or secured credit cards) requires the individual to open up an account with the credit card supplier and maintain some cash balance in the account. What is the reason of this? Credit cards are a business for the credit card suppliers; so how can they trust someone who has defaulted on his/her payments in the past? After all, a business is about profits and such risks are a threat to profits. The bank or the credit card supplier will generally pay interest on the balance in your account. However, it’s best to check this with the bad credit card card supplier/bank. The credit limit on the bad credit card card is determined by the cash balance in the account and is generally between 50-100% of the cash balance. Some people refer bad credit card cards as debit cards, owing to the fact that they work less in a credit-giving manner and more in a debit-giving manner.
There are a lot of bad credit card cards available in the market. When searching for the bad credit card card that is best suited to you, you should study 4 things in particular: the minimum balance that you are required to maintain in the bank account, the credit limit that they will provide it to you (i.e. the percentage of your bank account balance that you are allowed to spend on your bad credit card card), the fees/other-charges applicable to the procurement of bad credit card card and the rate of interest that you will receive on the balance in your bank account. An ideal bad credit card card would have no fee/other-charges associated with it and would require zero or a very small amount as minimum bank balance. It would also have something like 90-100% of bank balance as its credit limit. Moreover, an ideal bad credit card card would also offer a good interest rate on the bank balance.
Bad credit card cards are really a good concept that provides respite to people with bad credit rating by letting them enjoy the benefits of credit cards while they mend their credit rating.
Tuesday, August 17, 2010
Apply online for credit card
Is it ok to apply online for credit card?
With the fast pace of our everyday lives, we have short of time to everything. This is where you need to use other leverages such as technology to keep up the pace. The capability to apply online for a credit card is one such example. Yes, you can apply online for a credit card. You can not only apply online for credit card but also use your credit card to do online shopping (and get the goods delivered to your door at no extra cost compared to the local store).
So, it is possible to apply online for a credit card. To apply online for credit card, you just have to fill-in an application form that is presented to you on the website of the credit card supplier (who provides the capability to apply online for credit card). This application form is very similar to the one you would have filled-in in person – the details asked are same and the processing of the application is same too. You will find that a lot credit card companies encourage you to apply online for credit card. This is because they save on the costs related to salary of representatives, paper, etc. Moreover, when you apply online for credit card, your details can smoothly flow into the database of the credit card supplier i.e. the manual intervention is minimal when you apply online for credit card. This will in turn lead to faster processing of your application. Though it is not necessarily true, if you apply online for credit card, your credit card might reach you much faster. Moreover, if you apply online for credit card, you save on all the time and hassle associated with approaching a credit card company. You also can compare credit card features and benefits among the companies online before you start applying it.
Some people do not like to apply online for credit card due to few reasons. The main reason is their discomfort in disclose their personal information online. One quick check, before you apply online for credit card, is to see if the website address of the page (where you are required to enter your details) starts with ‘https’. ‘Https’ indicates that it’s a secure website (you might also check if the security certificate is provided by a reputed organisation e.g. Verisign). If you do not see an https, you should skip applying online for credit card with that company and more on to others. Besides that, some people don’t apply online for credit card because they are not comfortable in filling up the form all by themselves. In such a case, you might either not apply online for credit card (and apply in person instead); or you might just go through the form, note down your questions/problems and seek the answers by calling the customer service centre of the credit card company.
So, applying online for credit card is surely a good choice that everyone to apply for credit card.
With the fast pace of our everyday lives, we have short of time to everything. This is where you need to use other leverages such as technology to keep up the pace. The capability to apply online for a credit card is one such example. Yes, you can apply online for a credit card. You can not only apply online for credit card but also use your credit card to do online shopping (and get the goods delivered to your door at no extra cost compared to the local store).
So, it is possible to apply online for a credit card. To apply online for credit card, you just have to fill-in an application form that is presented to you on the website of the credit card supplier (who provides the capability to apply online for credit card). This application form is very similar to the one you would have filled-in in person – the details asked are same and the processing of the application is same too. You will find that a lot credit card companies encourage you to apply online for credit card. This is because they save on the costs related to salary of representatives, paper, etc. Moreover, when you apply online for credit card, your details can smoothly flow into the database of the credit card supplier i.e. the manual intervention is minimal when you apply online for credit card. This will in turn lead to faster processing of your application. Though it is not necessarily true, if you apply online for credit card, your credit card might reach you much faster. Moreover, if you apply online for credit card, you save on all the time and hassle associated with approaching a credit card company. You also can compare credit card features and benefits among the companies online before you start applying it.
Some people do not like to apply online for credit card due to few reasons. The main reason is their discomfort in disclose their personal information online. One quick check, before you apply online for credit card, is to see if the website address of the page (where you are required to enter your details) starts with ‘https’. ‘Https’ indicates that it’s a secure website (you might also check if the security certificate is provided by a reputed organisation e.g. Verisign). If you do not see an https, you should skip applying online for credit card with that company and more on to others. Besides that, some people don’t apply online for credit card because they are not comfortable in filling up the form all by themselves. In such a case, you might either not apply online for credit card (and apply in person instead); or you might just go through the form, note down your questions/problems and seek the answers by calling the customer service centre of the credit card company.
So, applying online for credit card is surely a good choice that everyone to apply for credit card.
Friday, July 11, 2008
The World's Most Exclusive Credit Cards - Forbes.com
The World's Most Exclusive Credit Cards - Forbes.com
Bank of America (nyse: BAC - news - people ) joined the field with its Accolades card, issued on the American Express (nyse: AXP - news - people ) network. It includes a fairly standard set of perks, like access to premium concert tickets, airline rewards programs and the like, and Bank of America will wave the annual fee for customers who stick with its private wealth and investment management division.
Banking to the ultra rich has been long dominated by JPMorgan and big brokerage houses, like Morgan Stanley (nyse: MS - news - people ), where the threshold to just get in the door is often $30 million of assets or more.
Cards are an obvious way into the market, and though lenders aren't going to make much in the way of late fees and interest charges (assuming rich people pay their bills on time and in full, which isn't always the case) they make up for it in the fees they charge to merchants to process transactions. American Express network transactions mean fees of about 4% each purchase, so a $60,000 car charged to a Black Amex could potentially rake in $2,400 in processing revenue.
Everyone is playing catch-up to American Express, the 800-pound gorilla of high-end cards, with its invitation only Centurion (aka, Black) card legendary among Hollywood types.
The Luxury Institute's recent survey of customer preferences ranked Centurion first and its Platinum card second.
Amex Black carries an annual fee of $2,500 and a minimum annual purchase threshold of $250,000.
Bank of America (nyse: BAC - news - people ) joined the field with its Accolades card, issued on the American Express (nyse: AXP - news - people ) network. It includes a fairly standard set of perks, like access to premium concert tickets, airline rewards programs and the like, and Bank of America will wave the annual fee for customers who stick with its private wealth and investment management division.
Banking to the ultra rich has been long dominated by JPMorgan and big brokerage houses, like Morgan Stanley (nyse: MS - news - people ), where the threshold to just get in the door is often $30 million of assets or more.
Cards are an obvious way into the market, and though lenders aren't going to make much in the way of late fees and interest charges (assuming rich people pay their bills on time and in full, which isn't always the case) they make up for it in the fees they charge to merchants to process transactions. American Express network transactions mean fees of about 4% each purchase, so a $60,000 car charged to a Black Amex could potentially rake in $2,400 in processing revenue.
Everyone is playing catch-up to American Express, the 800-pound gorilla of high-end cards, with its invitation only Centurion (aka, Black) card legendary among Hollywood types.
The Luxury Institute's recent survey of customer preferences ranked Centurion first and its Platinum card second.
Amex Black carries an annual fee of $2,500 and a minimum annual purchase threshold of $250,000.
Sunday, June 29, 2008
Credit card usage in Japan » 世論 What Japan Thinks
Credit card usage in Japan » 世論 What Japan Thinks
If you want to know more on credit card usage in Japan, this article may give you the answer. It was based on survey of more than 16,000 people. Surprisingly, the usage of credit card in Japan is still low. There are 15% of people who do not have credit cards. Since it is Japan, obviously JCB card is the preferred choice. You can get more information by clicking the above title link.
If you want to know more on credit card usage in Japan, this article may give you the answer. It was based on survey of more than 16,000 people. Surprisingly, the usage of credit card in Japan is still low. There are 15% of people who do not have credit cards. Since it is Japan, obviously JCB card is the preferred choice. You can get more information by clicking the above title link.
Saturday, June 28, 2008
Credit scores hit by card limits - Yahoo! News
Credit scores hit by card limits - Yahoo! News
Card companies are reducing borrowing limits for tens of thousands of consumers, which then can lead to lower credit scores. Those facing this predicament might not even know it until they apply for a loan or another credit card, and then get denied because their credit score has dropped.
Banks and other card lenders are trying to better protect themselves from more massive losses like those they've seen from subprime mortgages.
According to the Comptroller of the Currency, one of the government agencies that regulate U.S. banks, companies must notify cardholders at least 15 days in advance before making changes in the terms of their account, such as lowering the credit limit. But they don't have to explain how that could change an individual's credit score.
Card companies are reducing borrowing limits for tens of thousands of consumers, which then can lead to lower credit scores. Those facing this predicament might not even know it until they apply for a loan or another credit card, and then get denied because their credit score has dropped.
Banks and other card lenders are trying to better protect themselves from more massive losses like those they've seen from subprime mortgages.
According to the Comptroller of the Currency, one of the government agencies that regulate U.S. banks, companies must notify cardholders at least 15 days in advance before making changes in the terms of their account, such as lowering the credit limit. But they don't have to explain how that could change an individual's credit score.
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