Credit cards are a completely different ball game than they were in the 80's. It was once the case that the only use for a credit card was simply to be able to buy something and pay for it later. Now though, competition between the credit card companies is so stiff that they are offering all sorts of rewards to try to attract more clientele.
Credit cards compete for your business by offering incentives such as low introductory interest rates or rewards to new customers like free flights and cash back. These rewards are generally based on how heavily you use your card. There's a trick to these incentives and we'll show you how to take advantage of these incentive programs.
Rewards cards: You should shop around for the best deal you can find if you decide to go with a card which comes with rewards. Find rewards which you will actually use; for example, free flights as a reward makes little sense if you don't fly often or do not plan to charge a lot on this particular card - these cards often require a lot of spending to actually get the rewards.
Shop around a little and find a reward that works for you. Cash back rewards are very popular. Be sure to read the fine print before you apply for the card. Ask the rep if there is a limitation on the amount of rewards you can claim. Some card companies will only allow you to claim a specific amount and once you get there, the rewards disappear.
Additionally, ask if there is a time limit on the rewards - they will sometimes only be valid for a limited time and will expire if you don't use them.
If you are thinking of applying for a gas station reward card, be sure that there is one of those gas stations in your city first.
Low introductory rates: This one has a lot of possibilities. For instance, let's suppose that you have a credit card which has a 19% APR (annual percentage rate). You make a few small charges and have a balance which can be paid off easily within six months. Then you find a card with a one year 9.9% introductory APR for new customers. You could get this new card, transfer your old balance to it and pay it off much more quickly while saving a substantial amount of money. You could then either cancel the old card or save it in case you ever need it.
Keep this in mind - when the credit card companies compete, you come out on top. Don't be afraid to shop around for the best offer - the credit card companies want your business. You might be surprised by the deals you find!
Do your research before you sign up for any cards - you stand to get some great rewards and perks this way; just don't rush into anything, there might be a better deal right around the corner.
The chances are good that each and every one of us will lose or have our credit card stolen at least once in our lifetime. When talking about cash, this would be a lose-lose proposition every time. But fortunately, by law, credit cards come with built in protection in just such circumstances. When you know what to do if you lose your credit card, the whole thing is nothing more than a minor inconvenience. Here are the steps to take if the inevitable happens to you...
Be Preventative - Okay, before we move forward, let's go back a few steps. Something every one of us should do right now is to write down all of our credit card account numbers and phone contact numbers and file them away in a really safe place in case we should need them at any point later on. Make sure you have a list of every object that's in your purse or wallet, this way if something does happen, it's simple to just go down the list and notify of missing cards one by one without forgetting any of them.
Don't Panic - Even if your credit card does go missing, you might find it untouched (or right where you left it). Retrace your steps and more often than not, the missing items will turn up. And even if someone has found and used your card, you're still protected by law if you take appropriate action in a timely manner.
Assume it's Been Compromised - If you do find your lost credit card or someone else returns it to you, it's best for your own protection to just assume the worst and call the credit card company to cancel it and issue a new one. You never know if someone has already make unauthorized charges with the card or perhaps written the number down for future use. In order to minimize your liability, the only exception to this rule might be if you lost the card in your own home and then found it.
Call the Card Issuer Right Away - Again, this will not only will this prevent any liability for unauthorized charges on your part, but the credit card company will also take action to get a new card to you as fast as possible wherever you might be so you're not left stranded. They understand this happens and are usually very easy to work with in this predicament.
Call the Credit Agencies Too - If you have any concern at all that your credit card has been misused, in addition to calling the credit card issuer, you might also want to touch base with the major credit reporting agencies to let them know of the situation. They'll take action to make sure fraudulent use won't damage your credit history. Better safe than sorry, right?
Knowing what steps to take and what to do in the case of a lost credit card is something we all should probably make ourselves more aware of. By taking these steps immediately, we'll be neutralizing not only any potential liability, but also the hassle factor that comes with prolonging the situation.
Both Steven J. Talrechi & Scott Stadler 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.
Steven J. Talrechi has sinced written about articles on various topics from Bad Credit Loans, Credit Card Offers and Free Credit Report Score. Steven J. Talrechi is a veteran on credit reporting for over 10 years. He writes about various topics on said field, including applying for a , and differ. Steven J. Talrechi's top article generates over 14800 views. to your Favourites.
Scott Stadler has sinced written about articles on various topics from Credit Cards, Apply for Credit Card and Credit Cards. Save money at the gas pump with . Those who like to travel should compare. Scott Stadler's top article generates over 14800 views. to your Favourites.