Even those who have long denied the necessity of credit cards must now accept that they have become a crutch in today's society. Credit cards are everywhere. Many people cringe at the thought of using a piece of plastic to pay for things. Others worry about getting into too much debt if they get credit cards. Despite the negative opinions, the bottom line is that society as whole has come to accept, nay embrace, credit cards.
Credit cards debt is a universal affliction of the modern age. But when borrowings mount and the repayment demands become more urgent, the way to appease your creditors might be through costly loan consolidation schemes. The choice is even more limited for people with a low income and poor credit history. So, you might find yourself forced to apply for one of those costly loan consolidation schemes, advertised on TV. But there is an alternative in the form of zero percent rate credit cards.
Credit Cards: How Much You Know Them
The world is enthralled by their presence and the people are addicted! All over the world the phenomena of credit cards emerged as a rescue for all those who were surrounded with heavy debts. Later on the credit cards were transformed into a status symbol, and a way to break free from the monotonous world of finances. The process of emancipation began when the consumers thought the credit cards to be the most productive substance, which can shower them with the desired products and services at the time they are not in the possession of money. But little less was known about the unnecessary debts, which comes along with the credit cards.
Credit Cards: Be Aware Of The Other Side Of The Picture
Credit cards are a type of unsecured credit with a line of credit from the issuer hiding a variety of surprises in the fine print. This is the most common type of credit. With a perfect credit rating, you're likely to attract a rash of offers for new credit cards. Usually without any annual fee, they may offer reasonable interest rates (where credit cards are concerned), a grace period of one month and exciting initial offers like 6 months without interest on balance transfers and new purchases.
Until a few years ago, credit cards were a major hit with people. Just swipe in your credit card and you'll get all that you want in a jiffy! This easy- to-carry form of cash could get you just about anything and everything. The 70s and the 80s showed a massive boom in the use of credit cards. A survey showed that, credit card owners ended up shelling out more bucks. This form of fast and easy cash turned people into compulsive shoppers. Financial discipline became an alien concept. It was quite a task for people to keep track of their dwindling credits. With such extravagance and frivolous spending habits, they soon found themselves eye-deep in debt.
Credit Cards Your Plastic Friends
Credit cards are convenient when you don't have cash and need to pay for something. They're especially useful during emergencies. Credit cards are not only sources of urgent cash; they have many other uses as well. But, to use them without thinking about the consequences could lead to financial ruin. There are some things that every credit card user should know.
Credit Cards Interest Rates: Is Your Fixed Rate Really Fixed?
Anne and her husband were holders of Visa Platinum credit cards with a fixed 5.9% interest rate. Their account was recently sold to another credit card company and they have been informed that their rate is now variable, meaning they could be paying as much as 18% and that includes their balance transfer which were purchases made with the understanding it was at the lower interest rate. Is this legal? She is currently shopping around for another credit cards with a comparable interest rate.
Credit Cards Can Be Detrimental to Students' Financial Future
Seventy-eight percent of undergraduate students nationwide have a credit history and have credit cards while they are in college. According to a survey, these students have an average credit card debt of $2,748. For instance: Angelina Dixon is close to fitting into that category. All of her three major credit cards are close to the limit. Even though Dixon's parents help her out sometimes financially and she received a scholarship to come to university, the freshman applied for two of the credit cards since she has been at college.
Credit Cards Becoming Popular Among Teenagers
Credit Cards A Favorite Way To Pay
Cases of people drowning in credit card debt by using all their credit cards and affording nothing more than the minimum monthly payments are all too common. High interest payments can trap consumers in debt for years apart from the huge income loss owing to the finance charges on their families. Unfortunately too many Americans have to live with this fact especially since certain amount of financial discipline can help avoid this situation. Developing and sticking to a spending plan can make credit cards a lot less dangerous than other forms of payments.
Credit Card Scam: It Happens All Too Often
Credit card fraud happens every day. It is amazingly easy to open a credit card in someone else's name. Think it can't happen to you? All the information needed to open an account in your name is floating around on the internet right now! Before I relate my story, I urge you to pull your credit report if you haven't done so in the last 6 months. Don't hesitate to take help from credit card help service if required. In my case, I was lucky as I knew who had impersonated me, opening an account in my name without my knowledge. But it wasn't all luck; I acted promptly on the advice of a credit card help company as well.
Credit Card Processing: How Does It Work
Credit cards are often considered to be the most important amongst all financial tools, which can provide you with all the luxuries of life just by a swipe. Credit cards prove to be good alternatives to loans, and are handy in comparison with the heavy cash amounts.
Credit Card Frauds: It's Time To Be Aware
A lot has been said and less done about identity thefts. The phenomenon is taking the whole world in its grips day by day. Credit card fraud has become so very common nowadays that the mention of it doesn't take any one of us by surprise. Though, not many people have experienced a similar strife, but it is not beyond the imagination what the circumstances can turn out to be, in case of a credit card fraud.
Credit Card Fraud Is On The Rise
Identity theft and credit cards fraud are the fastest growing white-collar crimes in the United States. While anyone can be a victim of these crimes, members of the Navy, Marine Corps and the other branches of the armed forces are more susceptible than the general populace. Two major contributing factors in the increase of credit cards fraud are the rise in online credit applications over the Internet and the tremendous proliferation of credit cards.
Credit Card Blocking: Problem to your Business?
Your credit card has always emerged as a problem solver. Credit cards serve you with everything: From renting a car, to paying for your hotel or motel bills, credit card and its services always makes you feel happy and content. But there could be instances when these credit cards can spoil your happiness. Credit card blocking is one such situation that can leave you absolutely clueless.
Convenient Alternatives To Credit Cards
Credit cards are a convenience for those who have money. Credit cards are beneficial as well as blight to everyday consumers. The best advantage of owing a credit card is that you always have a way of paying for something in an emergency. By using credit cards, you can make hotel reservations, online purchases, and you can also build a good credit standing that can help you in getting further credit such as car loans, or a mortgage.
Convenience With Credit Cards
Credit cards are considered to be the best tools that help you in making purchases without your having to spend anything out of the money you earn at the time you make your purchase. They also make a good deal by postponing the payments that you make on your purchases. In this way you earn more interest on the money you earn. Let us take an example in this regard, if you earn an interest rate of 7% on your savings, then you can keep them intact in your accounts and just pay through your credit cards. By trying this out you will end up with a lot of interest saved up on your savings at the end of the year.
Control Your Expenses While Using Credit Cards
Use of credit cards is at an all time high. If you want to buy a wall hanging plasma TV, or a new dining set, but don't have ready cash, then credit cards are the best option. Almost everyone holds a credit card; most of the people possess several credit cards and they are making extensive use of these. But these plastic cards are not as good as you may think. If you use them as a source of emergency funds, no doubt, they can be the biggest and quickly accessible financial help available. But if you use them frivolously, it could be the best way to do something stupid like burning a big hole in your pocket.
Combating Credit Card Frauds
Nowadays more and more banks offer the facility of credit cards or check cards. Generally issued by MasterCard or Visa, these cards resemble credit cards both in appearance and usage. However there are two major differences. The first is the more obvious one of the money for debit card purchases being taken straight out of your checking account. Thus you are not in debt like you are with credit cards. The second difference is a lot less obvious but also a lot more dangerous.
Choose A Credit Card That Suits You
Life has become very easy with credit cards. All that you need to do is to pull out your wallet or purse, take out your credit cards, and swipe them at the terminal to make your payments. The procedure is that simple. The only problem that one faces is the problem with the choosing the credit cards that suit you the best.
Chip-Equipped Cards: The Future Of Credit Cards
If your signature betrays you every time you go out shopping, then you can stop worrying now. Credit cards equipped with electronic chips have arrived to your rescue. These cards require a PIN number, not your signature, to confirm the transaction.
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