Articles
Newsletter
| Save Money and Earn More Rewards By Upgrading Your Credit Cards |
 |
 |
 |
| Written by Kris Calusa |
| Thursday, 21 August 2008 11:18 |
|
The housing market is in decline. As a result of all of the bad debt associated with mortgages credit is getting expensive or more difficult to attain (even for individuals who are good credit risks). There's never been a more important time to make sure that you're getting the best deals you possibly can with the credit cards that you are carrying. If you're like me, you carry several different credit cards that you're pretty happy with. You don't overuse them, you pay the bill regularly, and you keep the balance at a manageable level, if not always at zero. But are you getting the best deal for your money? What I described in the last paragraph is the responsible use of credit cards, and millions of individuals do just that - they enjoy the advantages and convenience of credit cards year in and year out, using their flexibility responsibly to ease financial transactions every day. There's a problem with this behavior though: this is just what the credit card issuing companies hope for, because as you become lulled by the ease and convenience of these financial tools you are less likely to shop and compare the deals that different credit card vendors offer, and you are less likely to discover that the credit card deal they offer stinks! Award points. Cash back. Low interest. Zero interest introductory offers. Low interest on balance transfer. Travel services. Roadside assistance services. The list or features available goes on and on. The credit card business is a competitive one - there are thousands of credit card companies all competing for your business. The net result is that just about as many different incentives are offered to lure you to using any particular bank. You might be familiar with this array of services, but don't forget the fact that they are offered only because the business is so competitive. For most of us, it's been a good long time since we've shopped those services to ensure that we're getting the best deal that we can. Shopping for credit cards can really save you a ton of money in fees and interest. You need to make sure that you find credit cards that match your spending and payment habits, and it's good to have more than one. Here are a few tips that you can use: 1) Understand the features of your credit cards. If you pay your bill in full on time, you can be less concerned about the interest rate offered and can instead focus on other desirable features such as cash back or frequent flier miles. If these features don't tickle your fancy then you should shop for the credit card that has the longest grace period - the period of time between when you make a purchase with the card and when interest begins to accrue. (Some cards begin to charge interest on the date of the charge!) 2) Compare credit card costs and features frequently. Credit card interest rates and features fluctuate over time, and was a great deal when you signed up for your card several years ago might not be such a great deal now. When you shop you will most likely discover other credit card offers which are better suited to your individual needs than the solution you have in your purse or wallet. Check frequently, and if you find a better deal, take it. (They'll give you incentive to do so such as zero interest balance transfer offers. These are excellent offers if you manage your account diligently.) 3) Know your rights when using your credit cards. If you are ever offered the chance to purchase "credit card insurance" - don't bother. You don't need it to cover anything over the initial $50 of unauthorized use. One of the beauties of credit cards is the added security they offer over cash. If your credit card is ever lost or stolen you will never have to pay more than fifty dollars of any charges made on the card. The Federal Truth in Lending Act guarantees this protection. 4) If you have a problem with your credit card, file a complaint. If you ever believe that there is an error on your credit card bill, make sure you write the credit card company within sixty days of the date on the billing statement. Provide them with your name and account number, tell them that you believe that the bill contains an error, explain why and give them the amount and date of the error. When paying your bill, you can pay all other parts of the bill but you do not have to pay the disputed amount, any minimum payments associated with it, or finance charges that apply to it. This protection is guaranteed through the federal Fair Credit Billing Act in the United States, and by similar legislation in other countries. It's pretty simple to understanding the rights and the features attached to your credit cards - they are enforced by law, are common to all cards and don't change. Shopping for credit cards is another thing! It's an ongoing task that you should do periodically over time. Set a schedule and once every six or twelve months, spend some time reviewing the offers available online. Credit cards are easy to shop online, and you will find that you save yourself a lot of money by shopping. About the Author: Finding and applying for the best credit cards can be a simple process. Our website offers many different and feature-filled products and we make it very easy for you to apply for credit cards online. Please visit our site for your credit needs. Kindly provided by LJ-Marketing.dk You are welcome to use this article on your own website, if you include the link just before this text. |
Stumble It!
Members : 1254
Content : 2297
Web Links : 1
Content View Hits : 309427
Content : 2297
Web Links : 1
Content View Hits : 309427