Credit Card Rewards To Suit Your Personality

Posted by Credit Card Man | Credit Card | Friday 11 April 2014 5:04 pm

Before you rush out to find a card that fits your personality, you first need to determine which types of credit cards you may qualify for.

To help you understand what cards you may qualify for, here’s a guideline:

You may only qualify for secured cards or guaranteed approval shopping cards if any of the following apply to you:

– You have bankruptcy on your credit report
– You have been rejected repeatedly for credit in the past 12 months
– You are in a low income bracket
– You have high debt that absorbs most of your income
– You don’t have any good credit references
– In the past 12 months you were late paying major bills, such as mortgage/rent, utilities, or were late making payments on existing credit
– You have a low credit score

You may qualify for a low unsecured credit limit credit card if:

– You’ve only been late once or twice paying major bills in the past 12 months
– You have at least one good credit reference
– You have at least average income
– You do not have debt that absorbs most of your income
– You do not have bankruptcy on your credit report
– You have a fair credit score

You may qualify for a high unsecured credit limit credit card if:

– You have never been late paying major bills in the past 12 months
– You have at least three good credit references
– You have above average income
– Your debt does not absorb most of your income
– You do not have bankruptcy on your credit report
– You have an above average credit score

If you aren’t sure of your credit score, you should order a credit report or you can use the estimated prequalification guide at

Now that you have an idea of what types of credit cards you may qualify for, you can begin your search to find your personality card. Listed below are examples of these types of credit cards:

Airline Miles Credit Card – this card is perfect for anyone who travels frequently. In addition to awarding frequent flyer miles to the user, this card can also offer discounts on airfare at participating airlines, such as Southwest.

Cash Back Credit Card – this type of card is ideal for people who rarely use cash when making purchases. By making purchases with the card, users can earn cash back based upon a percentage of their charges. Some issuers tailor the card to the user’s personality, by allowing a higher cash back percentage on charges they most frequently make. For example; if the user mostly makes charges at a grocery store, the issuer credits a higher cash back percentage for those purchases. Other issuers may offer higher cash back percentages for purchases made at participating retailers, such as Home Depot or Sears.

Business Credit Card – these are not only for large businesses, now even small businesses can get this type of credit card, and can get separate cards for employees who make purchases on behalf of the company. Again, some business credit card issuers will sweeten the offer by awarding discounts for purchases made at participating retailers, such as Office Depot, or will award cash back percentages.

Retail Credit Card – if a person uses a credit card only at one particular store, a retail credit card can offer discounts on purchases. Examples of this type of card are: Sears Card, JC Penney Card, Wal Mart etc. Regarding the Wal Mart Card, users can get discounts on Wal Mart gasoline purchases, which is quite beneficial during current high gas prices.

Shopping Credit Card – typically known as Catalog or Merchant credit cards, these allow even bad credit people to obtain an unsecured line of credit. Purchases are restricted to a certain merchant or a specified catalog, but nonetheless offer the ability to make purchases on credit. For people with very bad credit, this is an excellent way to obtain credit. Just be sure to use a card that reports your timely payments to a major credit bureau so you can build your credit.

Other Rewards Credit Cards – you can find cards that offer a variety of discounts and free services, such as free music downloads, free roadside assistance, as well as protection against identity theft.

For nearly every individual personality and credit rating, their is a credit card issuer who wants you to become their customer. Be sure to read all the Terms and Conditions, so you know exactly what you will get before you apply.

Article by Toni Phelps,

How Credit Cards Work

Posted by Credit Card Man | Credit Card | Friday 11 April 2014 4:54 pm

Credit cards are, to put it bluntly, fantastic. That is, they can be fantastic if you know how to use them correctly, and know how credit cards work. If you don?t know these things, credit cards can be a wild and sometimes scary ride through debt and financial ruin. Are we being melodramatic? You would know that we aren?t if you?ve ever met someone who has had a credit card problem.

The issue is: credit card companies make money when you wrack up debt on their cards. They make their most money when people only pay their minimum monthly payments on them, and allow their debt to build up and accumulate month after month. That?s where the annual percentage rate, or APR, comes into play. That?s the interest rate, usually high, that you pay every month on your outstanding balance. Your minimum monthly payment barely covers that, so your debt just sits there and builds.

On the other hand, if you make your monthly payments, in entirety, and start each month with a blank slate, your credit card can become the key to freedom and financial success. It allows you to roam the world free of cash, while buying dinner for your loved ones, a night out on the town, a new television, a tank full of gas?all with a swipe of a card. At the end of the month, don?t worry. Those charges will appear on your statement?and hopefully you will pay them off and have a blank slate to make more charges the next month.

The difference between the first and the second situations with credit cards is simple?credit cards work if you use them within a budget. In other words, never use them when you can?t afford it, and always know what you can and cannot afford.

Sound hard? Nowadays, you can actually train yourself for a credit card if a budget sounds like an impossible task to you. The trainer credit card is an ATM debit card. It works exactly like a credit card, in that you can swipe it at stores, shops, and restaurants wherever any credit card is accepted. The difference is that behind that swipe is your bank account. If you don?t have enough money in your account for a purchase, the swipe won?t go through.

With a debit card, then, you are forced to know what you can, and cannot, afford before you go swiping away. So if you ever want to learn how a credit card is supposed to work, try starting with a debit card first.

Joshua Shapiro recommends Find Credit Cards to find a Discover credit card application that?s right for you.

Credit Card Tips: How To Combine Credit Cards To Maximize Cash Rebates?

Posted by Credit Card Man | Credit Card | Friday 11 April 2014 12:07 pm

Before we look at how to best combine cash rebate credit cards to maximize the cash rebates you can earn, it is very important to understand the different types of cash rebate credit cards available and also how the type of purchases you make is defined and segmented in this market.

Types of Cash Rebate Credit Cards

The first type of cash back credit card is what we call the basic no-frills cash rebate credit card. These pay the standard 1% cash rebate on your spending.

The second type is what we call the everyday purchase cash rebate credit card. They pay more than 1% rebate on everyday purchases, which in most cases is defined as purchases made at standalone supermarkets, drugstores and gas stations (Discount outlets are excluded). They will pay 1% rebate on other purchases.

Then there are tiered rebate cash back credit cards. These cards pay more than 1% on all purchases after your annual spending exceeds a certain amount. Some credit cards require that you carry a balance to earn maximum rebates. Spending below the threshold level will earn less than 1% rebates. Some tiered rebate credit cards also pay different rebates for everyday purchases and other purchases.

Understanding Everyday Purchases and Other Purchases

The key to maximizing the rebates you can earn from cash back credit cards is to realize that your spending can be split into everyday purchases and other purchases. Just to recap, everyday purchases in most cases is defined as purchases at standalone supermarkets, gas stations and drugstores (discount stores are excluded). If you have just a basic, no-frills cash rebate credit card, all you can earn is 1% rebate. You can improve this by getting a everyday purchase cash rebate credit card and earn more than 1% on your everyday purchases.

Many people do not like tiered rebate cash back credit cards because of its complicated tiered rebate formula. You have to spend above a certain amount to earn the maximum rebates. In some cases, you have to carry a balance to earn maximum rebates. However, tiered rebate credit cards have something that neither a basic no-frills or everyday purchase cash back credit card has. It allows you to earn more than 1% rebate on other purchases.

Combine everyday purchase and tiered cash rebate credit cards

Hence, the best strategy to earn the most rebates is to combine an everyday purchase cash rebate credit card and a tiered rebate credit card. The strategy would be to charge your everyday purchases to the everyday purchase cash back credit card (earn more than 1% rebate) and charge the rest of your other purchases to the tiered rebate card. Once you exceed the annual spending threshold on the tiered rebate card, you will earn more than 1% rebate on your other purchases. This combination allows you to maximize your rebates for both your everyday purchases and other purchases.

This strategy requires that you charge quite a bit to your credit cards. It will not work for those who spend only up to around $10,000 to $15,000 a year because with most tiered rebate credit cards, you probably need to spend above $6,000 to earn maximum rebates. Any annual spending below that amount will only earn you less than 1%. Hence, you need to charge about $15,000 to your tiered rebate card to earn more than 1% rebate on your total spending. You also have to be diligent in using your cards at the right places and monitoring your rebates.

Nick Lian
Credit Card Reviews and Tips
This site provides independent and unbiased credit card reviews, tips and strategies to help those looking for a credit card. You can read more about Cash Back Credit Cards here.

Credit Cards And The Buy It Now Culture

Posted by Credit Card Man | Credit Card | Friday 11 April 2014 12:00 pm

What do you do when you see the perfect dress in the window at a shop – but don’t have the cash on hand to pay for it? If you’re like a growing number of people in the UK, you whack it onto your credit card and pay for it when the bill comes in. You may even use a cashback credit card and earn yourself a little discount for doing it. Using credit cards has become a way of life, and despite the doomsayers who tell us that we are becoming a nation of debtors, reports from various government offices say otherwise. In fact, most people who use them, use credit cards responsibly, and by making the effort to compare credit cards, actually profit from their choice to use credit.

We’re living in a buy it now culture. Gone are the days of putting aside a few quid a week to buy that new stereo or update your wardrobe with a new jumper. A credit card means that you can buy that jumper now – not next season when it’s already gone out of style. It means that you don’t have to carry wads of cash with you and risk losing it. Depending on the credit card, you may even save a few pence here and there when you use a cashback credit card or rewards credit card to buy at your favorite shops.

So what is the best credit card to use? That depends entirely on you. There are dozens of different kinds of credit cards available to UK consumers, and the best credit card for one is not always the best credit card for another. A person who tends to frequently charge small things at the corner shop and pay off the account each month will actually save money if they’re using a cashback credit card that pays back .5% to 1% in every purchase. The person who uses a credit card to pay for an emergency purchase – new tires for the car, perhaps, or a refrigerator to replace the one that suddenly shut down – and will be carrying the balance on account may be better served with a low interest credit card. Still another looking to reduce their debt may find that the best credit card for their use is a 0% balance transfer credit card. There are even bad credit credit cards that will help you recover from a difficult spot in your credit record.

With all the choices available, it’s important to compare credit cards before you apply for one. If you take the time to visit a user friendly comparison site, you can compare credit cards by interest rates, application fees, cash back and rewards and other features that can help you choose the best credit card for your spending habits.

These days, there’s no need to wait for the little rewards and necessities. Having the right credit card in your pocket and using it responsibly can let you enjoy life now without paying too dearly for it later.

Jon Francis has been involved in various areas with the world of finance and has a keen eye for a bargin! He has an in-depth knowledge of the credit card UK market and now helps others get the best from a credit card. For more information visit

Personal Savings Rate And Credit Card Debt In The United States

Posted by Credit Card Man | Credit Card | Wednesday 9 April 2014 6:42 pm

Have you ever imagined how much of your money is literally going waste as interest payments on credit cards? The average family in the United States is knee-deep in debt with a liability of around $7500 as credit card payments. About $1000 is paid as interest each year by the family to the credit card company. If you include a couple of late payments and over the limit charges, the figure gets embarrassingly high.

Nearly three out of five U.S. households are accountable for the approximately $560 billion in outstanding credit card debt. The total consumer debt including credit card payments and home mortgages are around 6.8 trillion beating the total US national debt, which is around 5.9 trillion. There has been a noticeable decline in the US personal savings rate from 8% in the 1980s to less than zero in present times. There is a colossal increase in credit card debt which has increased by 400 billion dollars in the past decade to an embarrassing figure of $700 billion.

If you have more than one credit card payment to make with a high interest, you can transfer you balance to another credit where you pay zero or less interest. Do this only if you intend to pay the balance in full within the introductory period of the balance transfer. You can also move your balance from a card with a high APR to the one with the low APR. Make sure that you pay the amount in full as you already have to pay less money towards interest.

Make a list of all your credit card debts and the amounts owed on each card every month. Pay off the card with the lowest amount first. Then use that money to pay of the second lowest amount. Alternatively, you can pay off the credit which has the highest rate of interest first and then move down progressively to pay the credit cards with lower rates of interest. This way, you save a lot of money on interest payments.

The best advice, however to get out of your credit card debt and improve your personal savings rate is to stop using your credit cards and use them only in important or emergency occasions. Use the credit card with the lowest interest rate, if you have many credit cards, and put the rest through your shredder. Using the card wisely is the best step to personal money management in a country like the US which dwells in a lifestyle of credit card usage.

Daniel Cohen recommends Find Credit Cards for comparing different Citibank credit card applications.

The Lowdown On Chase Platinum Visa

Posted by Credit Card Man | Credit Card | Wednesday 9 April 2014 6:35 pm

The Chase Platinum Visa card is essentially a platinum card with an ideal rewards program. In this sense, users with very good credit ratings should get this card and make good use of its one-year 0% introductory APR benefit on both balance transfers and purchases.

Once the promotion period is over, the APR for purchases varies with the user?s credit rating, ranging from as low as 6% to as high as 15%, in accordance to the Prime Rate. However, the regular rate is advertised as 13.75%. As for the APR for cash advances, it is the norm for the rates of platinum to be higher, which is why the APR for the Chase Platinum Visa Card is at a whopping 23.75%.

On the flip side, there are no annual fees or registration fees required for this card on top of a flexible rewards program. The Chase Platinum Visa rewards program allows card users to collect points for every dollar users charge to their purchases. These points can then by used to redeem merchandise, gift cards, traveling tickets or even to get some cash back. Ideally, these points should be redeemed within a period of five years before they expire. Apart from that, there is also a limit as to the number of points that can be collected each year, with the maximum of 60,000 points.

Also, the Chase Platinum Visa card utilizes a two cycle average daily balance billing method that should be avoided by those who tend to carry monthly balances. Rather than charging the interest rate based on the monthly outstanding balance, the system averages out the balances of the previous month with balances of the current month. With this, interests payable will be higher as compared to the average daily balance system of interest tabulation.

Finally, the Chase Platinum Visa card also comes with a shorter grace period of 20 days and a barrage of fees for cash advances, balance transfers, surpassed limits and late payments. A fee of $15 is chargeable for balances amounting to less than $250 and a $39 fee for balances more than $250.

For more information or to apply for the Chase Platinum Visa, Eric Wasselman recommends Find Credit Cards.

Watch Out! Clever Trick With Credit Card Disputes

Posted by Credit Card Man | Credit Card | Wednesday 9 April 2014 6:30 pm

Here is an interesting trick that I’ve just come across regarding credit cards that can be played on you! Apparently, by law, you have only 60 days in order to make a claim dispute on a particular credit card charge that may appear on your statement. After that the credit card company can no longer accept complaints on a charge, and you have to either hope that the original company will make good on your refund, or take it to the BBB, which I must say really has never been of much help for any problems that I’ve ever encountered.

Whether or not you were aware of this rule, most of the time you would have filed your complaint well within the 60 days alotted. But here is an interesting case which can easily leave you hanging, and hoping that the company you dealt with will do what they promised. This particular example is based on services rendered, where a fee is billed to your credit-card, and then the charge is promised to be refunded if you cancel the service, say within 30 days.

Now, given that the company gave their word that they’ll reimburse you, you forget about the transaction for a while. A month or so later you realize that they apparently forgot to reimburse your credit card! Try now to call the credit card company about the original charge and you’ll be greeted by the kind representatives – usually in India somewhere – telling you there’s nothing they can do for you and asking why you didn’t contest the charge within the 60 days? Of course, your answer is that you expected the company to refund you as promised and didn’t think you needed to do anything else. WRONG! There’s nothing further the credit card company can do for you.

At this point, you better hope you kept good records (who you spoke to, cancelation confirmation number, date of cancellation, etc), and make sure to keep after the company’s billing department to find out why you weren’t properly credited. The problem is that billing departments that use such tactics tend to be exceptionally difficult to get in touch with. Try emailing instead, and you will be hardpressed to receive answers there either. You may also wonder why companies bill for their demos this way instead of just billing you the next month if you keep the service. The answer is simple. They hope you will not notice, or forget to check that the refund was actually processed.

As a final precaution, if you are ever in such a situation as this, you may want to take a few extra minutes, assume the worst case, and call to notify your credit card company that you are contesting the charge (even if there is no actual cause yet) and expecting a refund. That way if you do have any problem in the future in getting the company to reimburse you, you can at least have some level of recourse by way of the credit card company as well.

Note that such situations could also involve products shipped as well. If you have to return a product, make sure you are credited within 60 days of the original date you were billed, or else quickly file a complaint with your credit card company. Otherwise, risk dealing with it on your own.

You may also want to check out, which I’ve found is also a good alternative to the BBB and may even have additional info on your vendor that could help you make a better informed decision.

Alexander Paul Morris, the designer and creator of the tymoraPRO Trading Platform, serves as President of Yourika Corp. He is a trader, programmer, and mentor widely renowned for his ability to analyze market behavior and to program systems and alerts that assist in capturing trading opportunities based on patterns of fear and greed that continually repeat themselves in the marketplace. A 14-day free trial of the platform is available to those visiting

Credit Cards &amp College Students: Tips &amp Advice

Posted by Credit Card Man | Credit Card | Monday 7 April 2014 7:22 pm

You may or may not have a credit card… but if you’re a college student, you’re likely getting offers on a near daily basis. They show up in your mailbox and in your email, with you – the College Student – as the focus. On a tight student budget, they probably seem very appealing. It would be nice to buy that pair of jeans you can’t afford or to be able to hang out with your friends at the coffee shop between classes; however, credit card abuse is a very real danger for college students. Before you decide to get one, or charge more on the card you already have, it’s important to learn the dos and the don’ts.

Do – Find the card with the lowest interest rate you can qualify for. Your interest rate will determine the overall cost of your loan; and yes, it is a loan. Credit cards are not free money.

Do – Make sure you read the fine print. Be sure you’re getting what you think you’re getting. Are there annual fees, membership fees, and/or sign up fees? Many a student has been surprised to receive their first credit card statement, before they’ve even charged a cent; to see a balance of $100, $200 or more.

Do – Strive to have no more than one credit card. The more credit cards you have equal the more debt you’ll have when you graduate. Keep it to one and one card only.

Do – Make more than the minimum payments; even if only fractionally more. Optimally, pay the new balance off each month.

And now the don’ts

Don’t – Be late on a payment. If you have a late payment, even once, your creditor can – and likely will – raise your interest rate.

Don’t – Forget that incidentals add up big. A cup of coffee here, a pizza there, a few munchies for studying are all small potatoes by themselves, but when you do this throughout the month it will show in a larger balance than you expected. The best rule of thumb? Don’t buy what you can’t afford. If you have to charge something you can’t pay off when the statement comes; make it something necessary.

Don’t – Stop shopping around. You will continue to get new credit card offers and if you find a better interest rate; transfer any existing balance and close the original account.

Don’t – Count on mom and dad to bail you out. You’re an adult now and these are your finances, so be responsible. A nice side effect? You’ll feel good about yourself and they’ll respect you for making sound decisions.

You’re in college to learn and, ideally, that should include managing your income vs. your debt. When you graduate with little to no credit card debt, you’ll be glad you took the time to be smart with your money.

? 2006, Kathy Burns-Millyard. A related article on this topic you’ll find useful is: Credit Card Debt Consolidation Tips. Find this article and many more at

Your Best Options For Getting A Bad Credit Charge Card

Posted by Credit Card Man | Credit Card | Monday 7 April 2014 7:10 pm

Many people assume that if you have bad credit, it’s nearly impossible for you to get a credit card. This couldn’t be any further from the truth. However it does take a little more work and might require you to pay higher fees. Here are some tips for finding a bad credit charge card that’s right for you.

Friends or Family With Good Credit

If you have friends or family with good credit, the can co-sign for a credit card with you. You’ll definitely want to be sure to pay your bills on time since their credit will be on the line as well as your own. But since their good credit history will allow you to qualify for a card, this can look particularly good in the eyes of the credit bureaus and can be a super strategy for boosting your credit rating while also getting a new credit card account.

Local Retail Outlets

Try applying for cards at local retail stores rather than the large banks. Retail merchants will probably be more likely to give you a chance and their criteria are often less strict in terms of how good a credit rating you must have in order to qualify. They might limit your credit line or charge you a higher rate than if you had great credit, but you should still be able to get a credit card from some of them.

This can work in the short term, but in the long term, you really want to have access to a card that can be used anywhere, rather that just at the local clothing or electronics store. Ideally you’ll have a standard Visa, Mastercard or similar brand card but a local retail card can act as a stepping stone to one of those cards if you’re unable to qualify for one initially.

Local Banks Rather than Large Banks

In the same manner as local retailers, smaller, local banks might be more willing to work with you and extend you a credit line. However, they might require a secured credit line, where you’ll need a savings account or some other collateral which will determine your credit limit.

In general, it’s a good idea to avoid larger banks. They have so many potential customers and such stringent qualification requirements that they will probably be less likely to work with you if you have severely damaged credit.

Online Credit Card Offers

You can find several good credit card offers online, even for people with bad credit. The best offers include unsecured credit cards such as Visa or Mastercard offers and are offered with no credit check or other hassles as long as you meet some basic, minimal qualifications. They can be difficult to find, but well worth it, especially if you have bad credit. However, these cards should be used as a way for you to get back on your feet and re-establish your credit, not for gratuitous spending.

Whichever option you choose, be sure you pay off your card on time. Since banks are offering credit lines to you regardless of your credit, they are likely to have pretty high interest rates. But as long as there’s no annual fee and you don’t carry a balance, the interest rate doesn’t matter. If you do have to carry a balance, try to pay it off as quickly as possible and don’t carry a balance more than half your credit line.

Pretty soon, you’ll see your credit rating increase. You’ll be able to easily apply for another card with better terms, leaving your old bad credit charge card in the past but thankful that it allowed you another chance to improve your credit.

FACT: It takes most people years to rebuild their credit. But can you wait that long to qualify for a decent credit card? Discover how you can quickly and easily get an unsecured bad credit charge card today regardless of your credit rating…apply for top-rated offers for FREE or get more information by visiting

Using Your Credit Card At An ATM

Posted by Credit Card Man | Credit Card | Monday 7 April 2014 6:57 pm

It is so simple to do; it must be harmless, right? Using your credit card at an ATM works just like a debit card, right? It?s OK to use my credit card at an ATM machine because I?ll just pay off the debt later, right? If you asked those questions, you?d be wrong on all three counts.

That?s because there are lots of hidden dangers and costs when you use your credit card at an ATM, hidden dangers and costs that go a lot deeper than just the usual problems associated with building up debt and living beyond your means.

That?s because credit cards are set up to make maximum money when they are used at an ATM. They generally charge an extra fee of 2 to 4 percent on cash advances when they?re used at an ATM, and that?s on top of the usual transaction fees that the ATM?s bank will charge you. Plus, an ATM cash advance will also have an even higher interest rate on it than normal credit card purchases. So if you happen to let an ATM cash advance stay on your bill longer than the grace period, you?ll see steep interest payments the following month.

Grace period? Did we say grace period? In many cases, ATM cash advances have no grace period at all. That means that that interest starts to build up as soon as they money leaves the ATM machine and enters your pocket. And that interest grows every minute, every hour, and every day until you pay it off.

And speaking of paying it off, the credit card company may make it actually difficult to pay it off right away. That?s because some credit card companies have their systems designed to funnel your payments first to regular purchases. Then when you pay those off, and only when you pay those completely off, your payments go to paying off ATM cash advances.

How can credit cards get away with this, you ask? It?s like highway robbery. It kind of is. The only problem is that credit cards are private businesses, so they can set the terms of their business any way they want. If you don?t like those terms, then don?t do business with them. The real problem is that too many people take those terms. In fact, if ATM cash advances weren?t so popular, credit card companies might have to then actually loosen their terms!

The key for you then is to obviously avoid ATM credit card advances until very dire emergencies, and even then, only as the last resort of last resorts.

Joshua Shapiro recommends Find Credit Cards to find an HSBC NV credit card that?s tailored to suit your financial needs.

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