Credit Cards ABC Credit Card Reviews

Reward credit cards or loyalty cards earn their owners certain incentives in terms of cash back or redeemable reward points. These benefits and reward points keep mounting as more charges are applied to the card, i.e. more you spend more you get. The best-known reward cards are those that offer frequent flyer miles or cash based upon the amount of purchases made with the card. There are numerous companies that offer you fantastic or unbeatable rewards for the privilege of providing you with their credit card, however, whichever card you use should be chosen carefully.

Annual Fees

Convenience users or people who use credit cards for frequent purchases reap the maximum benefit out of reward credit cards. Many of these reward credit cards come with an annual fee, sometimes higher depending on your reward level. This fee should be taken into consideration when estimating any future reward level. Consider the kinds of reward schemes being offered and the minimum amount you need to spend each month in order to avail the reward bonuses. Analyze your spending habits, since the level of spending determines the level of benefits earned.

Golden Rule of Reward Cards

There is one golden rule concerning any type of reward card, whether it be an affinity credit card or cash back, you must pay the balance in full every month. If you do leave a balance and interest accrues on this it will negate all benefits that you received from the card, in fact it could end up costing you more in interest than you earn with rewards.

Which Reward Card?

These credit cards do not just earn you flyer miles. You can earn reward points redeemable against discounted or in some cases free gasoline, gift certificates for merchandise at particular retailers or for general online use, and even discounts on your next automobile. Though free flyer miles might lure you to buy an air miles reward card but ultimately if you do not fly frequently enough to redeem those miles, you will be at a loss. However, on the other hand cash back or discount points card could be more beneficial to raise a sloping budget.

Conclusion

In general choosing the correct reward card for your needs is probably the most difficult decision that visitors face when choosing a credit card. Most other types of credit card are simple enough to choose, whether it is a balance transfer card, an introductory 0% purchase rate or an adverse credit card. However, with the reward card you must be able to pay the balance in full, calculate the annual fee cost then, estimate your spending level and then calculate your estimated rewards.

Platinum credit cards are generally offered to those individuals with good credit ratings and an income of around 20,000 per annum or more. Platinum credit cards have many benefits and features compared to a standard or gold credit card. Conventional school of thought would find platinum credit cards to be a status symbol. However, relaxed rules and upper limits have brought them within reach of the average person too.

A platinum credit card can be a good choice if you frequently use credit card for your routine and high purchases and pay back the whole credit at the month end. You get a high limit of credit and sometimes no limit at all if you show a high earning power of annual income 25,000 or more. However the actual high level of credit youll get depends on your income and credit rating.

Platinum card owners are privileged because they do not have to pay the usual high interest rates on credit. Generally there is a low or no annual fee. You can get a number of benefits and rewards such as free air miles, discount points, reward points for purchases and cash back. If you cannot make the most of platinum card deals it is better to opt for standard credit card. Since, maintaining a platinum credit card can prove to be a costly affair in the long run if not used and managed properly.

A number of credit card companies offer special facilities such as:

Protection against accidental injury, sickness and involuntary unemployment
Protection against card theft and loss
Online credit card fraud protection
Travel insurance and special travel services
Flexibility to share it with friends and family

Platinum Card Guidelines

There are certain things you must never overlook while signing up for a platinum credit card. Make sure you spend only that much amount that you can easily payback because even if you fail to pay one monthly payment it will account for a negative credit rating. Bottom line is that the benefits should always amount up to more than you pay.

If you are going abroad, then using a credit card can be the safest and most effective way of carrying currency. But what steps should you take to make sure your card is the best one to use abroad? Here is some advice about how to effectively use your credit cards whilst abroad:

Pick a universal card

If you are travelling overseas, then try and pick a card that you know will work in most countries. Taking store cards or lesser known cards can defeat the point of bringing your card with you. Stick to widely accepted credit types like Visa and MasterCard.

Ask about fees

Before you go away, ask your card issuer what the fees are for using your card abroad. If you have more than one card, then take the one with the best rates for withdrawing money and making transactions. Although you get better exchange rates with your card, this is useless if you are charged high fees for taking out foreign currency by your card issuer.

Carry card issuer numbers

Make sure that you have a number that you can call your card issuer on should anything go wrong. The normal number you call is unlikely to work, so before you go you should get their number for international calls. Ask your card issuer about arrangements should your card be lost or stolen.

Notify your issuer

If you are going somewhere that is out of your regular routine, then it is a good idea to notify your card issuer that you are going away. If your card company sees your card being used in strange places, they might suspend your account. Although you can sort this out quickly, it saves you worries and trouble if you just let them know before you go away that you will be using your card abroad.

Check your dates

Before you go abroad, check the expiration dates and credit limits of your cards. You dont want to be on holiday and not be able to enjoy yourself because your card has expired or you have run out of credit. If you dont think you will have enough credit then you could get your limit extended or take a couple of cards.

Keep all receipts

The most important thing to do when abroad is to keep all your receipts. If you are overcharged for anything then you want to be able to prove this, and if you keep all of your receipts you can track exactly what and how much you have spent.

Credit is safest

Although you might think that taking an ATM card is the best idea, credit cards are much safer as they have added security measures such as purchase protection. Most of the time you can use your credit card in an ATM if you need to, but you should try and charge it as much as possible as this will save you money. If you can be disciplined with your record keeping and plan in advance, then taking your credit card abroad will make your spending safer and hassle free.

Obtaining a credit card is fairly easy and if used the right way you won’t get into debt. Credit Cards can pay your bills, college tuition and the next vacation. What you do not want is to be a slave to your credit card.

Principal #1

Only buy something which you planned for in advance and have the money to cover the credit card in the bank when the bill arrives. This allows you to basically take out an interest free loan for a month while your money collects interest in the bank. However, this takes discipline and planning.

Principal #2

Never use the credit card to pay off another credit card. This will only set you up for big time debt and future financial worries.

Principal # 3

Choose a credit card that does not have a yearly fee and gives you air mileage. I like to pay the card off each month and collect air miles at the same time. As a result I have gotten a free trip to Tahiti and Europe. It always feels good when get free stuff without paying a dime in interest. You need to try to convert everything that you usually pay cash into a credit card. This allows you to take advantage of borrowing someone else’s money. However, you also must be responsible and when the time comes have the money to pay off the credit card in full.

Principal # 4

Use the credit card responsibly and do not allow impulsivity to take over. The temptation is always there to let that credit card go another month and just pay the interest. This is the worst thing that you could do and because this starts the digging of the whole which eventually could ruin your credit, hurt your lifestyle and affect your relationships.

Credit cards can be your best friend especially around Christmas, birthdays or holidays or they can be your worst enemies after all is said and done. You have to treat them with care and do not abuse them. Always pay them off each month and enjoy the feeling of borrowing money from others at their expense. If you cant trust yourself then try some of the alternative ways of using credit and reaping the same benefits. You can get a debit card and have the money directly taken out of your bank account. However, sometimes these credit cards do not provide rewards. If you purchase from Amazon.com you could use their credit to earn reward points. In the long run it is up to you on how you conduct your finances. I believe that you would feel better about yourself and other relationships if you stay within your budget and do not spend impulsively. Dont put yourself in the position by living above your means. When people do this, it is a formula for disaster and financial ruin. Lastly, never pay off another credit card with a credit card.

Now that summer’s here you may be getting ready for that long awaited European vacation. Have you checked to be sure you have the right travel credit card? Although using credit cards are best when you travel, you need to be sure you’ve selected the best credit card for overseas use.

If you’re getting ready to travel, you need to take care of a few matters regarding your credit card before you leave. You should check with your credit card issuer about fees or charges when using the card outside of the U.S. Many of the financial institutions charge additional fees for foreign transactions, such as three percent when converted to U.S. pounds.

It is recommended that while you have your bank on the line, you advise them of the dates you’ll be traveling and the countries you will be in. If they don’t know you’re out of the country and start getting charges from Paris, they may cancel your account until you contact them.

You should take credit cards from two banks. If there’s a problem and one bank cancels your credit card while youre traveling, if the two cards are from the same institution they would cancel both. The second card could just be a back-up. Its best to use just one credit card as its easier to keep track of your spending.

Seasoned travelers recommend when vacationing in Europe, you use a debit card for getting local currency. Cash machines are common throughout Europe and you can go to any ATM machine and get cash back. The drawback with this is that there are quite often limits of the amount of cash you can withdraw at one time. You may also want to set-up with your financial institution in advance, a daily allowance of the amount of cash that can be withdrawn from your debit card just in case it is lost or stolen.

With the debit card, there is a fee for each transaction. So you wouldn’t want to use the debit credit card in place of a credit card as you might do here in the U.S., as each charge would generate an added fee. You can keep the debit card just to replenish your cash. It is suggested you have enough cash on hand, as there are times when a credit card sign is posted at the door at say a restaurant, but when the bill comes they dont accept that card.

Use caution while traveling of being too liberal when using your credit card number. Keep your travel credit cards and your debit credit card in a safe place. Keep all receipts so that you can verify the charges upon your return. Maintain your pin number in a safe place. Be sure you have the financial institutions phone numbers just in case you lose your credit card.

Now that you have your travel credit card and debit card information, its time to make those final plans and start packing. Oh, and dont forget to take lots of pictures and have fun!

If you are worried about credit card fraud you are well on your way to protecting yourself from being a victim. The truth is anyone can easily be a victim of fraud because of the careless ways we handle our personal information. Here are the top 5 ways you can avoid becoming a fraud victim.

Never give solicited personal information to a stranger

We always tell our children never to speak to strangers. Yet when someone calls and talks to us in a friendly way, most of us will be glad to give out any information the caller requests. In order to avoid letting your personal information be used against you, never provide vital information about yourself to anyone that you do not fully trust. In other words, do not give your social security number, your drivers license, your full address, your credit card number or any combination of the above to a stranger.

Do not share unsecured personal information over the Internet

During the early days when the Internet was young and most users were naive, junk mail was one of the easiest ways to obtain personal information from unknowing surfers. False promises of a lottery win or a special prize can easily convince surfers to part with their private information for something trifling or nothing at all. Whilst most of us have better common sense nowadays, you should still never provide any form of personal information to anyone over the Net, especially your credit card details.

Beware of Phishing sites

Phishing is a term related to websites that were made to mimic real websites (like those of online banking sites) with the sole purpose of getting information from you. A mail will be sent to you informing you of a need to access your online credit card account for certain transactions. The mail will contain a link, with a page that looks like it will connect you to your account site. In reality, this page links to a Phishing site, which functions to collect your personal information illegally. Finally, your details will be utilized by these criminals for online shopping, or even for credit card duplication purposes.

Check your monthly statements

It could be months before you discover that someone else has been using your credit card without your knowledge if you do not regularly check your monthly statements. As you know your spending patterns, you will definitely be able to sniff out something fishy when your outstanding totals jumps a grand or two. Provided that you dont have family members with uncontrollable spending needs, it is a definite way of knowing that someone has been using your card illegally.

Protect your mail

Most of us take our mail for granted. We dont usually lock our mailboxes when in fact, we should. Our mail contains much of our personal information, especially mail that comes from banks, insurance companies and credit card companies. If anyone were to steal any of your mail which contains your personal information, you would have lost your identity to these thieves even before you got your morning mail.

Things to Watch out For When Applying for a Credit Card

It would be nice to think that all credit card issuers are fair and just, however, such is not the case. Not all credit cards are the same, nor are those that issue them. Many try to take advantage of of an unsuspecting public. Below are a few pointers to look out for when applying for a credit card.

Pay attention to the interest rate being charged. While, as stated, you can expect to pay a higher interest rate, it should not be too excessive.

Do not even consider cards that have a zero grace period. This means that they begin to charge interest from the day the charge occurred. You wind up paying interest on interest. There are numerous cards out there that provide a 25 day or so grace period allowing you to have a chance to pay off the charge before interest is tracked.

Do not get over anxious. Read the fine print with each card you are wanting to apply to. If you do not understand a benefit or aspect of the contract seek out understanding. The issuer is in business to make a profit and you can rest assured that the contract leans in their direction. Your job is to choose the one that benefits you the most. Your primary objective is to have a clear understanding of the interest rates, fees, and penalties involved and what circumstances will those rates and fees increase, or under what circumstance will you be penalized.

With the huge consumer lending boom in the United States there is a considerable amount of fraud going on. Once you have established good credit and your credit score reaches various levels of acceptance, offers will flood your mail box and your phone will ring off the hook. Never accept credit card offers over the phone, or that come in the mail. Sales people undergo extensive training to sell you something you do not need or want. When you desire to increase your credit level, or desire another card with lower interest, seek out the offer that meets your specific need.

If you make a couple of applications and are turned down, consider having someone who you trust and who trusts you to co-sign for a card. Continual denials will result negatively on your report. This, however, should be a last resort as whatever happens does not only reflect on your credit report, it affects theirs as well. If you apply for a guaranteed secured, guaranteed store or catalog card, or a prepaid credit card this should not be necessary.

Only apply for the credit you need. Too much can be tempting and might stretch you too thin come the end of the month. Also, having too much unused credit can prove to be harmful when you go to apply for a more serious loan such as for a car simply do to the fact that, although you do not use it, it is available to you at will and lenders take this into consideration when reviewing your application and it is reflected on your Credit Score.

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Things To Remember When You Apply For A Credit Card

When you are ready to apply for a credit card, there are a few things you want to take into consideration before making that final choice on which card to put into action in your life. After a bit of reading and reviewing the offers and your credit needs, your credit rating, you are then going to know if you are really ready to apply for a credit card for you to use.

One thing to think about is how your credit report is. If you are one of the many that may not have the greatest credit, you are going to see that it may be a little difficult to acquire a credit card. If that is the case, you may need to try one of the credit card companies that will help people out that have bad or slow credit. The only thing with the credit cards for people that have slow or bad credit you are going to see that you will end up paying a higher interest rate.

The credit card companies that will offer a credit card with a low interest rate are going to be for the people that have good or excellent credit. You may see that these credit cards are harder to acquire because of the sticker guidelines that the credit card companies have set. As you are looking at all, the credit card offers you will see that there are so many different companies for all different kinds of credit and situations for people looking for a credit card.

Another thing to think of is if you can really afford a credit card. Many people apply and receive a credit card that they are not able to really afford. That is one reason why more and more people end up in credit card debt over their head. In addition, there are some that figure that they are going to get a credit card for a vacation or for the use of buying the items that are needed for the home. The only problem is that they end up charging more than what they are able to pay for at the end of the month.

Once you are ready to apply for a credit card you are going to want to check out all the different card companies that are out there. That is because there is going to be a credit card that is perfect for you to apply at. You are not going to want to fall in the trap that some of the credit card companies will have out there because you may soon find that you really do not qualify for the credit card that is offering you a great rate and a irresistible introduction period.

You are going to want to make sure that you take your time and check out all the different credit card offers that you are going to see when you are looking to apply for a credit card. Than you know that you are going to get the right credit card for the credit rating and situation that you are in so you are not applying for credit cards that you are not going to be accepted for.

Owning a credit card is like owning a gun. Handle it responsibly and it will take care of you and save you from occasional tight situations. Misuse it and it can bring you to grave financial disaster.

To get the most out of your credit card, therefore, you need to have a full grasp of what credit card ownership entails. Keep your account in good credit standing and know what is expected of you to do this.

To keep card ownership simple and less expensive, its best to maintain only one credit card. Maintaining one card means saving on yearly membership fees and allows the cardholder to maximize the rewards points he earns from frequent card usage.

Prior to actually getting the credit card, find out more about what it has to offer in terms of benefits, features, and services. Look into monthly finance charges, annual fees, late payment fees and the like to have an idea of how much it would cost to maintain the card.

What are the advantages of owning a credit card?

By owning a credit card and maintaining it responsibly, you will establish your credit worthiness. You will create a positive credit history for yourself that will tremendously improve your chances of getting loan approval to finance your studies, purchase a vehicle, open a bank account, or even buy a house. You also enjoy the added benefit of having access to stand-by funds in cases of extreme emergency. You eliminate the risks of carrying too much money on you when you need to shop for big-ticket items. More importantly, you enjoy a sense of personal freedom and independence.

Tips on proper maintenance of credit cards

Know your payment due date. Always pay on time and avoid carrying balances over to the next month. Paying in full each month helps you avoid steep financial charges on unpaid balances.

Make sure that all entries in your statement are correct. Fraudulent entries in your statement indicates someone has tampered with your records. Immediately notify the company once you see a strange entry on your statement.

Beware of misleading introductory offers. When you are offered a card with a low monthly interest rate, make sure that this rate is on a permanent basis and not a promo rate that will double after the promo period has expired.

Think first before making a large purchase. Problems arise when we make major purchases with our cards without checking whether we will be able to pay for these purchases when our statement arrives the following month. We need therefore to be aware of our cash flow situation.

All these said, next time you feel like taking the plunge and buying that expensive gadget you have long dreamed of, think hard. Its so easy to buy something using plastic money. Remember that, in a few days, you will be asked to dish out real cash to cover this purchase. Stay within budget.

Majority of Americans are living and surviving beyond their means, thanks to the credit privileges offered by credit cards. Research shows that the ordinary American family owns at least three credit cards. It can be safely said that majority of the American people today are deep in debt.

It is easy to get a credit card in the United States provided you have a good credit rating. Credit card companies have developed very good marketing strategies by sending credit card application forms to every family and enticing them with freebies if they get a card.

Any person would say that credit cards are a boon because they can rely on the good old plastics whenever they want to buy something and they do not have the cash for it. However, the problem comes during paying time and they do not have the money to pay for their credit cards.

When this happens, the principal amount loaned would increase depending on the agreed interest rates. Sometimes, the credit card companies can already get back the principal amount loaned just by the amount of interest they are asking credit card owners to pay.

The best advice to give any person is not to get any credit card at all and to shop using cash. This way you are assured that you have the money to pay for what you want and you do not place yourself under the mercy of credit card companies.

However, owning a credit card is also a must in some States because it is the preferred payment scheme by most establishments. There are establishments that are only accepting credit card payments. If owning and using a credit card could not be helped, then the user should be wary and should be careful of how to use such credit card.

Credit cards should ideally be used only for emergency purposes such as when the establishment does not accept cash or when you have to make emergency purchases or payments and you really do not have the money to pay for them. Medical and food expenses fit the list of emergency expenses that can be paid via credit cards.

Do not use your credit cards for the purpose of buying clothes and other luxury items that are not really within your budget and are not a necessity. Sometimes people rely on plastic to buy thing that they do not really need and this puts them in a compromising situation when paying time comes.

Before getting a credit card, make sure you know how to use it and where to get extra money to pay for the credit car debt. Or else, you may be faced with legal problems later on which you will surely regret.