Sunday, October 19, 2008

Top 10 Credit Card Tips


  1. Pick a credit card - or cards - according to your spending habits. If you clear your balance each month, look for a cash back card or one with loyalty points. If you won't be able to pay it off straightaway, opt for a low or 0% interest rate card.

  2. Before traveling abroad, check the charges your credit card firm will make. You may find it makes sense to take out a card that doesn't apply an overseas loading charge.

  3. Steer clear of store cards: the interest rates are extortionate so you'll get better value from an ordinary credit card. Many retailers will offer you 10% or 20% off your purchases if you take out a store card - it's fine to take advantage of these offers just make sure you pay it off immediately otherwise the high interest charges will quickly wipe out your savings.

  4. Set up monthly direct debits to pay at least the minimum repayment off your card. This avoids late payment charges.

  5. Always pay more than the minimum balance - otherwise it could take 25 years to repay a £2,000 debt.

  6. If you have a 0% card make a note in your diary when this rate is due to expire - if you haven't repaid your debt or shifted it onto another card in time, you'll start paying interest.

  7. If you can't repay the debt in that time and think you won't get round to switching again go for a card with a low rate for the life of the balance (rates vary between 4% and 5%).

  8. If you do transfer debt onto a new card, don't spend on it. Credit cards prioritise the debts you repay and so you'll more than likely be stung by a higher rate of interest on new purchases.

  9. Don't leave yourself open to fraud - always check statements thoroughly and check your credit record with a credit referencing company like Experian. If you suspect foul play contact your card issuer immediately.

  10. Keep a watch on your credit card spending - if you find yourself in the situation where you need to put regular expenses like bills and food on your credit card, then it's time to make cut backs and review your financial situation.

from money.scotsman.com: Top 10 credit card tips


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Friday, October 10, 2008

Miles and Cash Back Rewards for Small Business Credit Cards

In the past, small business credit cards were exclusively used to separate a business owner’s personal money and business funds. Today however, small business credit cards are also a great way to get the most from your business expenses.

In fact, business credit card holders have a great opportunity of earning bigger rewards at a sooner time. In this article, we’ll be discussing the three credit card reward options that small business owners can choose from.

Small Business Credit cards with Frequent flier Miles programs

Some small businesses require frequent traveling such as when purchasing stocks or materials from out of State or meeting with prospective clients abroad. A small business credit card with frequent flyer mile program is made for such a purpose.

By charging your ticket purchases, hotel accommodations, car rentals and other purchases to your business credit card, you can easily avail of a free airline ticket and save significantly on your travel expenses. Furthermore, travel reward small business credit cards are often accompanied with discounts and other special privileges that you can enjoy.


Find out more on: Miles and Cash Back Rewards for Small Business Credit Cards

Thursday, October 2, 2008

The Best Low Interest Rate Credit Card

Okay, so you’ve found the best low APR credit card and now you’re ready to submit your application. How can you make the most out of your low interest rate card? In this article, let’s discuss some tips on how you can enjoy the best benefit of what your low interest card has to offer.

Keep your interest low. You may notice that the ads often say “AS LOW AS ___ APR”. After the zero % introductory period, there are credit cards that maintain a low interest offer for their clients. Nevertheless, enjoying the lowest rate possible actually depends on how well you handle your account. If you’re consistent with your payments, you should be able to enjoy the lowest rate offer by your credit card. On the contrary, late payments and maximizing your credit limit may move your credit card company to raise your APR higher.

Take advantage of the grace period. The best low APR cards in the market must also come with a sufficient grace period. Unfortunately, many cardholders don’t even make use this provision. Instead, they choose to submit only the minimum due payment and carry their balance from one month to the next. But remember that paying off your entire balance within the grace period enables you to save from at least 8% to 11% from your charges. Even with a low APR card, why pay the interest, if you can avoid it by paying off your entire balance?


Find out more on: The Best Low Interest Rate Credit Card


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