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[C1198]Credit Card Capitol One

by Nick Makaryk, Nic

It is a well known fact that there are so many different charge cards available today. In order to pick a good one that will work for you, choose one that reflects your lifestyle as well as your ideal spending limit. In order to find the best company and the best possible deal, you will need to do your research to find the perfect card for you.

When choosing one,, you will first need to decide what you need the for. Some people want a it simply for the purpose of cash flow. Making purchases can then free up your income. You can put that money in your bank account and let it draw interest. This allows your money to earn interest, all the while you are still able to buy the things you need. Then, when the bill comes in, you pay it in full, in order to avoid finance charges.

Instant cash purposes is another popular reason people get them. They are then able to use the credit card at any ATM to obtain cash. Using them for these purposes are great for an extended vacation or when traveling in general. If this is your sole purpose, make sure that you find one with the lowest instant cash transaction rate.

Just like any other financial obligation, it is always important to consider the monthly payments. You will either need to pay the balance off each month or make the minimum required payment. When choosing, be sure to look at the balance transfer rates, any introductory rates, as well as any incentives that might apply to new holders. Often at times, you can receive some amazing deals.

Getting the incentives are another important area to keep in mind. Many offer incentives such as reward points or cash back for certain purchases. Simply look around for good incentive programs that are appealing to your needs.

The APR or Annual Percentage Rate is another important area to look at. Whenever the incentive period ends, you will then pay the APR. Since APR vary, it is important to shop around and compare rates. The lower the APR is the better.

The minimum monthly payment also must be looked at. Often times, the companies require you to pay about 3% of your total balance. Some are considerably lower, while others require a considerably higher amount. Choose a credit card with the longest interest free period available. This will help to keep your monthly payments lower.

After you have done the research and know exactly what you are getting into, you can then choose one with ease. They can be a great thing to have. However, they can cause financial troubles if not used properly. If you do your homework, you will quickly be able to find the best one that is right for you. As long at you pay your monthly bill on time and take care of your it, you will increase your rating, allowing you to eventually make larger purchases, like a house or a car.

I am delighted to say that I am a credit card deadbeat! In fact, some of you might already be credit card deadbeats too, if so, I commend you for your excellent work! Now, as for those who don't know what a credit card deadbeat is, before you start thinking I have a screw loose, you may want to continue reading!

When I say that I am a credit card deadbeat, I don't mean that I avoid my credit card bills. To the contrary, a credit card deadbeat is the insider term used by credit card company executives and refers to all of the credit card users who pay off their bill each month promptly; in doing so, such customers pay no interest and prevent the creditor from making any profit! That's me! I love being a credit card deadbeat!

The alternative to being a credit card deadbeat is what credit card executives call a revolver. A revolver is a credit card user that constantly carries a balance and is charged regular, monthly interest on their charges. Credit card companies love revolvers because they, in essence, increase the bottom line for the credit card company and make them a nice profit. Further, from an insider perspective, the best customers not only carry a balance, but also make their payments late, triggering extra fees and a higher interest rate.

Okay, so I've been a credit card deadbeat for awhile now, but last year I went even further in improved my deadbeat ways. Not only did I hang onto my hard earned cash by refusing to line the wallets of the credit card companies, but I also happily lined my own wallet with their money, to the tune of $1,402. Yes, that's right, they paid me $1,402 to use their cards; continue reading to find out how!

Cash Back Credit Card

First, I applied online for a Cash Back Credit Card and I was instantly approved. My new cash back credit card arrived to my house the following week ready for me to use. This card offered me 0% APR for 12 months and carried no annual fee; With it, I made all of my gas purchases, as well as grocery and drugstore purchases and earned 5% back cash back on the gas purchases and 1% back on all other purchases. I have a family of four and the gas purchases included gas for my spouse's car as well. My average monthly purchases and cash back earnings were as follows:

Monthly Gas Purchases $325 x .05 = $16.25
Monthly Grocery Bill $1,200 x .01 =$12.00
Monthly Drugstore Purchases $160 x .01 = 1.60

Total Cash Back Earnings From Credit Card $ 29.85 x 12 = $358.20

Airline Rewards Credit Card

I also applied for an airline rewards credit card and again was instantly approved online. Like the cash back credit card, my new airline rewards credit card arrived the following week, came with a 0% introductory APR for 12 months and had no annual fee. This credit card earns 1 frequent flyer mile for every $1 charged.

I charged many of my miscellaneous expenses, including major purchases and business expenses, on my new Airline Rewards Credit Card. As a result, the qualified expenses came to an average of $2,250 monthly or $27,000 for the year, earning 27,000 frequent flyer miles, more than enough for an airline ticket to Hawaii: a $500 value!

0% Introductory APR for 12 Months

Now here's the kicker. Since both credit cards came with a 0% introductory APR for 12 months, I paid only the minimum payments on each card and placed the money for my purchases into a savings account earning 2.5% (rates have gone up since). Using averages for simplicity, I made 12 monthly deposits of $3,935 into a savings account earning 2.5% interest compounded monthly. By the end of the year, I earned $544 in interest!

My Total Credit Card Earnings for the Year

So here is my total earnings from the cash back credit card, airline rewards card, and interest earned.

Cash Back 12 x 29.85 = $358
Free Airline Ticket $500
Savings Account Interest $544

Total Earned $1,402

Just to make sure I maintain my deadbeat ways, now that the 0% introductory rate has expired, I've paid off my balance from the money I deposited into my savings account during the year. To be a credit card deadbeat you need persistence, determination, and discipline. I did it, and so can you!

Article Source : Credit Cards In Uk

About Author

Both Nick Makaryk & Stephanie Andrews are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.

Nick Makaryk has sinced written about articles on various topics from Credit Cards, Airline Credit Cards and Credit Cards. Nick Makaryk is an Internet Publisher, Copywriter, and Founder of helping others with updated information and resources visit online for easy to use. Nick Makaryk's top article generates over 60500 views. to your Favourites.

Stephanie Andrews has sinced written about articles on various topics from Credit Cards, Mastercard Credit Card and Credit Cards. Stephanie Andrews is a contributing editor for , a well organized credit card directory enabling the user to compare and apply. Stephanie Andrews's top article generates over 40500 views. to your Favourites.