Travel credit cards can be a great help when away from home. Relevant rewards can be of great value, such as air miles, free or discount hotel accommodation, but care should be taken to choose a card which suits your needs best.
Some offers include special sign up bonuses including 20,000 air miles (or similar points) when you get the card. Other valuable offers include 0% initial APR which can either be for purchases or for balance transfers. If the latter, it can be of great value for either avoiding paying any interest on existing debts, or for making money by using available funds to place into a savings account or similar investment.
One thing to watch out for is that some cards limit you to one airline or one hotel chain. This is OK if that's the one you always use anyway, but otherwise can be less use than a more flexible offer.
Some accounts include annual fees. Although this might seem like a bad idea at first, those which have fees often offer much better rewards and other features. So have a look at your use of credit, and calculate how the rewards balance against the fees for each particular card to see which gives you the most advantages.
Some cards charge you a 3% foreign currency conversion fee. At the time of writing, it was said that Capital One and Discover don't charge you this much, but this can change at any time, so please check the details when you are ready to get a card.
Other features of use include various types of insurance for purchases etc., as well as other useful services offered by some. Don't forget that you can use the internet to locate local ATM machines when you are in unfamiliar areas, as well as asking locals.
At the time of writing MasterCard is offering 3 nights for the price of 2 in Asia for Accor hotels. There are often special offers like this, so check to see which cards present such promotions most often, and which are likely to be of most use to you personally.
Travel credit cards can be of great value, especially if you choose one which suits your needs best.
Monday 30 April 2012
Best Credit Card Deals
The best credit card deals are those which offer benefits which match your personal financial needs the best. As with many such areas, there is a lot of advice which attempts to tell you that there is one "best" offer. Since such "advice" completely fails to take into account that different people have very different financial situations, it is misleading and should be ignored.
The best way to see which offers will be of most benefit to you personally is to start by having an honest look at your own finances. Take a good look at your spending. What categories do you spend most money on? Also look at your existing debts and how they are progressing.
There are a wide variety of different benefits offered by credit cards. These might include 0% interest rates for an initial period as well as various rewards. Rewards can include a wide range of different things such as air miles, discounts on hotels, travel, and purchases, cash-back, special offers and free gifts and even payments towards a mortgage.
0% interest on balance transfers for an initial period can be one of the most valuable offers for some people. The two main uses of this benefit are as follows. Firstly one can transfer existing borrowing onto the new account and so save having to pay any interest on it, and thus focus on paying down the borrowing itself rather than just paying off the interest each month.
The second use of such an offer is to use the available money to make a profit by receiving interest payments. This can be done by putting the funds into a savings bank account for example.
Cash-back can be a very valuable offer for some people, particularly larger percentages on particular categories of expenditure that you use a lot, such as gas. Other types of rewards can suit different individuals better. As this article is explaining, the way to find the best credit card deals for you personally is to ignore any general advice recommending a particular offer, and start by looking your own financial situation.
The best way to see which offers will be of most benefit to you personally is to start by having an honest look at your own finances. Take a good look at your spending. What categories do you spend most money on? Also look at your existing debts and how they are progressing.
There are a wide variety of different benefits offered by credit cards. These might include 0% interest rates for an initial period as well as various rewards. Rewards can include a wide range of different things such as air miles, discounts on hotels, travel, and purchases, cash-back, special offers and free gifts and even payments towards a mortgage.
0% interest on balance transfers for an initial period can be one of the most valuable offers for some people. The two main uses of this benefit are as follows. Firstly one can transfer existing borrowing onto the new account and so save having to pay any interest on it, and thus focus on paying down the borrowing itself rather than just paying off the interest each month.
The second use of such an offer is to use the available money to make a profit by receiving interest payments. This can be done by putting the funds into a savings bank account for example.
Cash-back can be a very valuable offer for some people, particularly larger percentages on particular categories of expenditure that you use a lot, such as gas. Other types of rewards can suit different individuals better. As this article is explaining, the way to find the best credit card deals for you personally is to ignore any general advice recommending a particular offer, and start by looking your own financial situation.
Reward Credit Cards
Reward credit cards are common these days and can offer big benefits to users. Rewards can include a wide range of different things, such as cash-back, air-miles or even payments towards a mortgage!
While rewards are a big incentive to choose a particular card, it should be kept in mind that other features and details of a card can make a big difference too. The interest rate is obviously one important factor. Many offers these days include an initial interest-free period (sometimes a year). If this zero interest period applies to balance transfers it can be extremely useful.
A 0% rate on balance transfers can be used to save paying interest on existing loans by transferring the borrowing onto the new account. Even more exciting is the fact that such offers can be used to make "free money" by putting the available funds into a high-interest savings account for the initial period.
Don't believe any information which tries to tell you which rewards are "best". This is nonsense because different rewards are better for different people, depending of course on your spending patterns and financial situation.
To find the best rewards for you, first look at your personal finances. What do you spend most money on? What types of spending do you regularly do which align with a type of reward?
Air-miles can be a great reward for those who travel a lot by air. Hotel discounts and special deals can also be valuable to those who stay away from home regularly. Some rewards are specific to a particular company, such as those on the Disney card which include discounts and special offers on Disney products, free trails and tickets as well as priority bookings at certain events.
Cash-back is a popular reward. It can have different percentages for different classes of expenditure. For example some offers give a larger percentage on gas purchases, which can of course be really useful if you spend a lot on gas.
Reward credit cards are a great choice as they give you additional benefits, but be sure to check all the details and be sensible in your choice of offers.
While rewards are a big incentive to choose a particular card, it should be kept in mind that other features and details of a card can make a big difference too. The interest rate is obviously one important factor. Many offers these days include an initial interest-free period (sometimes a year). If this zero interest period applies to balance transfers it can be extremely useful.
A 0% rate on balance transfers can be used to save paying interest on existing loans by transferring the borrowing onto the new account. Even more exciting is the fact that such offers can be used to make "free money" by putting the available funds into a high-interest savings account for the initial period.
Don't believe any information which tries to tell you which rewards are "best". This is nonsense because different rewards are better for different people, depending of course on your spending patterns and financial situation.
To find the best rewards for you, first look at your personal finances. What do you spend most money on? What types of spending do you regularly do which align with a type of reward?
Air-miles can be a great reward for those who travel a lot by air. Hotel discounts and special deals can also be valuable to those who stay away from home regularly. Some rewards are specific to a particular company, such as those on the Disney card which include discounts and special offers on Disney products, free trails and tickets as well as priority bookings at certain events.
Cash-back is a popular reward. It can have different percentages for different classes of expenditure. For example some offers give a larger percentage on gas purchases, which can of course be really useful if you spend a lot on gas.
Reward credit cards are a great choice as they give you additional benefits, but be sure to check all the details and be sensible in your choice of offers.
Sunday 29 April 2012
Credit Card Ratings
Credit card ratings usually refers to consumer comparisons of different credit cards showing which is said to be better. Another use of the term is with reference to investment in such areas, but this is a much rarer and more specialized use of the term. This article will focus on the use of the term in the more common consumer comparison meaning.
It is easy to find comparisons of credit cards on the internet, with different scores given to different aspects of their performance, such as overall satisfaction, fees, billing and payment, rewards etc. For example, one such comparison rates American express and Discover card as best, with National City and Wells Fargo next.
However, it should be realized that many such comparisons are biased as the business which makes the comparison makes money out of the results in some way such as by advertising on the same page. So it is obvious that such a comparison is unlikely to rate a card that they are making money from advertising, as really low, because they won't make them so much money. So don't believe too fully what you see in such comparisons.
Another vital point often overlooked is that any comparison which says that one card is "better than" another, is not really correct. The reason for this is that each individual's financial situation and financial needs are different. So what might be the very best card for one person might not be suitable at all for someone else. So really there is no "best" card, and the intelligent approach is to first consider ones own financial needs then find one which best provides benefits that help your own situation.
One of the most useful offers for some people is zero interest for an initial period. If applied to purchases this can be beneficial for those who need to buy certain items, and if applied to balance transfers this feature can avoid all interest payments on existing borrowing, by moving the existing debts onto the new account.
Rewards are another area which can offer great benefits to some people, but different people might benefit from different rewards. Some people might find cash-back most useful, especially if it has higher percentages on categories which they spend a lot such as gas. Others might find air miles or special discounts more valuable. There are even cards such as the Disney Credit Card which offer a whole range of benefits relating to a specific merchant. While not of much use to many people, such specific rewards might be of huge value to particular consumers.
So while credit card ratings can be of some value, it is much more sensible to consider your own financial needs more than some averaged overall comparison.
It is easy to find comparisons of credit cards on the internet, with different scores given to different aspects of their performance, such as overall satisfaction, fees, billing and payment, rewards etc. For example, one such comparison rates American express and Discover card as best, with National City and Wells Fargo next.
However, it should be realized that many such comparisons are biased as the business which makes the comparison makes money out of the results in some way such as by advertising on the same page. So it is obvious that such a comparison is unlikely to rate a card that they are making money from advertising, as really low, because they won't make them so much money. So don't believe too fully what you see in such comparisons.
Another vital point often overlooked is that any comparison which says that one card is "better than" another, is not really correct. The reason for this is that each individual's financial situation and financial needs are different. So what might be the very best card for one person might not be suitable at all for someone else. So really there is no "best" card, and the intelligent approach is to first consider ones own financial needs then find one which best provides benefits that help your own situation.
One of the most useful offers for some people is zero interest for an initial period. If applied to purchases this can be beneficial for those who need to buy certain items, and if applied to balance transfers this feature can avoid all interest payments on existing borrowing, by moving the existing debts onto the new account.
Rewards are another area which can offer great benefits to some people, but different people might benefit from different rewards. Some people might find cash-back most useful, especially if it has higher percentages on categories which they spend a lot such as gas. Others might find air miles or special discounts more valuable. There are even cards such as the Disney Credit Card which offer a whole range of benefits relating to a specific merchant. While not of much use to many people, such specific rewards might be of huge value to particular consumers.
So while credit card ratings can be of some value, it is much more sensible to consider your own financial needs more than some averaged overall comparison.
0 APR Credit Card Offers
0 apr credit card offers can be very valuable to either save money or make a profit. This article will tell you exactly how to do both these things effectively.
The word APR means "Annual Percentage Rate" and refers to the interest rate on the card. So yes you really can find many these days which charge no interest at all for an intial period which can be a year.
The first point to bear in mind is that the zero percentage can apply to different things. On some cards it applies to purchases, which of course can enable you to buy things without paying any interest for the initial period, which can be very useful for some people. However, many zero percent initial rates apply to balance transfers which can be even more valuable as will be detailed below.
A 0% interest rate if applied to balance transfers can be used in two main ways both of which can be of great advantage to ones finances. The first of these ways can be used to save a lot of money on existing borrowing. What you do is you transfer the existing borrowing onto the new account and thereby avoid having to pay any interest on it at all for the initial period. This can be a huge benefit as many people typically make monthly repayments which barely cover the interest charged on their debts and so the debt itself stays about the same even though one is making a monthly repayment on it. So if the interest is completely avoided the same monthly payments wil be applied to reducing the debt itself instead of just paying off the interest.
The second way a balance transfer zero rate can be used is to actually make "free money". This is done by using the available funds on the new account to pay into another account which pays interest, such as a savings account. Then when the funds are repayed at the end of the 0% period, the interest received from the savings account is pure profit! Occasionally this approach is applied to other forms of investment other than a savings account, but most other types of investment carry a greater risk.
0 apr credit card offers can be a great help to ones personal finances, as has been detailed above.
The word APR means "Annual Percentage Rate" and refers to the interest rate on the card. So yes you really can find many these days which charge no interest at all for an intial period which can be a year.
The first point to bear in mind is that the zero percentage can apply to different things. On some cards it applies to purchases, which of course can enable you to buy things without paying any interest for the initial period, which can be very useful for some people. However, many zero percent initial rates apply to balance transfers which can be even more valuable as will be detailed below.
A 0% interest rate if applied to balance transfers can be used in two main ways both of which can be of great advantage to ones finances. The first of these ways can be used to save a lot of money on existing borrowing. What you do is you transfer the existing borrowing onto the new account and thereby avoid having to pay any interest on it at all for the initial period. This can be a huge benefit as many people typically make monthly repayments which barely cover the interest charged on their debts and so the debt itself stays about the same even though one is making a monthly repayment on it. So if the interest is completely avoided the same monthly payments wil be applied to reducing the debt itself instead of just paying off the interest.
The second way a balance transfer zero rate can be used is to actually make "free money". This is done by using the available funds on the new account to pay into another account which pays interest, such as a savings account. Then when the funds are repayed at the end of the 0% period, the interest received from the savings account is pure profit! Occasionally this approach is applied to other forms of investment other than a savings account, but most other types of investment carry a greater risk.
0 apr credit card offers can be a great help to ones personal finances, as has been detailed above.
Consumer Credit Counsel
Consumer credit counsel services can help people who have problems with credit or other financial areas. This article will tell you more about them, especially how to find the best ones for your needs.
Credit counseling is an area where there is a lot of misinformation. There are large numbers of companies and individuals currently giving extremely bad advice in order to make profits for themselves. Most of these profit-making businesses make their money depending on what services the client agrees to, so the interests of the business in maximizing their own profits are usually in direct opposition to the interests of the client.
The solution to this problem is to seek advice only from genuinely non-profit organizations. These are easy to find on the internet as long as you are careful to check that the credentials are genuine.
These charity organizations can help people get valuable information, ideas and options which help them feel more confident and able in managing their financial situation. The services are usually confidential and might be offered in person, over the phone on online. Some such organizations offer the service entirely free, some offer a free initial consultation but might charge low fees for subsequent sessions.
There are large numbers of people in the western world with serious credit or debt problems. This is even more true due to the economic challenges of 2008 and onwards. Typical problems might include having too much debt on credit cards or other types of loan, not being able to make any progress with reducing the debt, losing employment, and having challenges paying bills.
One of the major problems for many people is that they pay the required monthly minimum repayment, but find that this is doing little more than paying off the interest, so the debt itself is not really decreasing. One possible solution to this is to reduce the interest rate, so the same amount of monthly repayment pays down the debt itself. Obtaining a new credit card with zero interest can be one approach to this, as it avoids any interest payments for the initial period. However, one must be sure that this approach will not result in additional borrowing being made on the original account.
Consumer credit counsel can be very valuable if used wisely.
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