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Chase Sapphire Preferred vs. American Express Platinum

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These days, credit cards are getting a bad rap, but those that are responsible with their credit cards are trying to take advantage of the perks that come with a preferred or platinum credit card.  So, which one is better?  Who has the best perks?  Who has the least fees and the lowest interest rates?  These are all questions that we ask when doing our research and finding the right card to fit our budget and personality.

For credit worthy customers, there is the Chase Sapphire Preferred and the American Express Platinum.  Both of these cards offer outstanding elite benefits to their card holders.  They both have their pros and cons.  It’s up to you do choose which card’s negatives outweigh the positives.

One noticeable difference for these cards is charge card and credit card.  Chase Sapphire Preferred is a credit card which means you have the option to carry a balance on your monthly statement.  The American Express Platinum is a charge card which doesn’t afford you that same luxury.  Monthly statements are to be paid in full.  If your bill is not paid in full, it could possibly lead to your card being revoked.

Chase Sapphire Preferred

This card has several great benefits.  You can earn 2 points for every dollar spent on travel and dining at restaurants.  All other purchases that are made using the card earn 1 point for every dollar spent.  Your points earn can be used for travel services through their partners.  They have a 1:1 ratio for point redemption.  Redeeming 1,500 points is equal to 1,500 miles.  Points can also be used for airlines and hotels.

Other added benefits include:

  • Trip cancellation insurance/Trip interruption insurance
  • Purchase protection
  • Rental car collision damage waiver
  • 15.99% APR, this is one of the lowest rates amongst credit card and can go up based on your credit and other factors.
  • 40,000 bonus points when you spend $4,000 within the first three months of opening the account.
  • 5,000 additional points are earned when you add an authorized user and they make a purchase with the first three months of opening the account.
  • No foreign transaction fees

One thing that we know and love more than anything is being able to reach a customer service specialist at any time.  Chase Sapphire Preferred provides 24/7 direct access to customer service specialist.  To put the icing on the cake, the annual fee is waived for the first year.  After that it’s $95 per year. The only negative I could find with this card is the ability to access airport lounges.  If you enjoy having a place to relax while in between flight this is the card that doesn’t provide that perk.

American Express Platinum

The American Express Platinum card has it perks as well even though they are not as generous as Chase, but with the $450 annual fee it makes it difficult to see if it’s really even worth it.  American Express offers:

  • 40,000 bonus points after spending $3,000 within the first 3 months of opening the account.
  • Annual $200 airline free credit.  This is received after you’ve chosen a qualifying airline.
  • No foreign transaction fees
  • Platinum card concierge.  Use this luxury if you need assistance making last minute reservations or finding a gift.  Of course there are terms and restrictions that may apply
  • No APR because no balance can be carried over to the next month on your statement.
  • Access to Airport Club. This gives you access to exclusive airport lounges such as the Delta Sky Club.  There are 600 lounges worldwide that you can gain entry to no matter what class or airline you use.

Making a Decision

If you are into the outward luxuries like airport lounges and concierge services, then American Express is the way for you.  You can truly play the glamourous role with this card.  This is a card made for frequent flyers and people that can take on the challenge of making statement payments in full.  Make sure you can afford the annual fee before applying for this card.  $450 can be a drop in the bucket for some and a budget buster for others.  With the luxurious benefits, it seems like the card is truly worth the price.  Or you can consider going for the gold which has a cheaper annual fee of $175 and is waived for the first year.

Chase has a lot more perks, but they don’t offer the lounge and concierge services that AMEX has.  If you’re not into that, then this is the card for you.  Overall, this credit card is more affordable.  Monthly statements don’t have to be paid in full and the annual fee is a lot lower.  Not to mention, the fee is also waived for the first year.  When it comes to redemption, you get more for your points with the 1:1 ratio.

Credit Donkey has a great article if you want more information about these two cards.

The Best Credit Cards for Holiday shopping

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Holiday shopping can be a daunting task, especially when working out the financial side of things, if money is tight you will be considering using a credit card to pay back later; either with intention to pay back immediately or gradually over a longer duration of time. Deciding the best credit card is vital to ensure you don’t fall into any traps or debt.

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With so many credit cards now available on the market, the choice of which one can be overwhelming; so it’s best to simplify it and work out your requirements – to narrow down what you’re looking for.

If you are planning to pay off your credit card immediately, you want to search for the best reward schemes. E.g. points for additional holiday purchases or travel. Depending on what you’re able to borrow, you can even get cash back deals.

The best credit cards to look for when paying back more long-term, should offer 0% interest in the first 6 – 12 months.

Approach 0% interest credit cards with caution; as the majority are only interest free for a certain amount of time, and can be interest-deferred. It’s vital you know the time period beforehand, as going outside of them can start accumulating interest of up to 20% to 30%, which can leave you stuck with heavy debt.

Best Reward Cards

TrueEarnings Card from Costco and American Express

The best credit card to offer very competitive cash back – you can get 3% cash back on gas, 2% for restaurants and travel plus 1% on other purchases. (Double check your holiday shopping outlets accepts American Express). You must be a Costco member to obtain this Credit Card, but there is no initial fee. If you need more time to pay off your Christmas spending, there is also a 0% interest charge for the first six months in getting the Credit Card. But afterwards, the variable rate is 15.24%.

Walmart Credit Card

The best credit card when it comes to having 1% cash back on any purchase, also offering a statement credit which is issued every time you accrue $5. Another benefit is being able to save 15 cents per gallon of gas at Walmart gas stations; plus you can receive a $5 rebate for every $500 you charge, and offering discounts on the first day of buying the card. It’s a Master Card offered through the synchrony bank, that has no annual fee, but the variable interest rate is 22.90%.

Bank of America Travel Rewards Card

The best credit card for focusing on rewards for holiday shopping; you can benefit from building up travel credits for your next vacation. For every dollar you spend, you accumulate 1.5 points; and even offers you 10,000 points in bonus if spending over $500 dollars in the first 90 days – which is a great reward for holiday shopping! Another benefit, and making things stress free, the credit card has 0% for the first 12 billing circles. Afterwards the variable fee increase is 14.99 then up to 22.99%. Like the other Credit Cards it offers no annual fee, but also has the advantage of no foreign transaction fees. (You can save money if doing your holiday shopping abroad) If you are already a Bank of America customer there’s also extra benefits too.

0% Interest Options

If you are looking to pay back your Credit Card more gradual over a longer period of time, then you will be looking for 0% interest on purchases for the first 6 – 12 months. This can avoid wasting money on accumulated interest; and should be looking to pay off in the duration of no interest. The two reward cards mentioned above; the True Earnings Card, and the Bank of America Travel Rewards Card can also include 0% interest on purchases. In addition to them; there’s also other options that are interest-free, and no interest-deferred Credit cards.

Chase Slate

The best credit card for having the longest duration of interest free purchases – which is the first 15 months. You are required to have excellent credit rating to be approved for this Credit Card, but has excellent perks like 0% interest on balance transfers, and having no annual fee. After the introductory period the variable interest rate is either 12.99, 17.99% or 22.99%; depending on your credit score.

Capital One Venture One Rewards Card

The best credit card which offers 0% interest on purchases until December 2015, offering plenty of time to pay off your holiday shopping before any interest accumulates. After the free period, interest will rise to 19.9%, which can earn 20,000 reward miles if you spend over $1,000 on purchases in the first 90 days. Also there is no annual fee on this Credit Card.

The Bottom Line

These are just a few examples of the deals you can find to make your holiday shopping more convenient, as well as advantageous. You may find others that work better for you at your favourite retailers.

Hidden Credit Card Charges: Hints and Tips to Avoid Them

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Hidden credit card charges aren’t always as hidden as you think. You simply need to make sure you’re smart and savvy and read your statements thoroughly. Keeping on top of them is really important and it’s worth making sure you know how much they are and where they appear on your documents so you can keep track of them and most importantly, make sure you’re not being overcharged for anything. Here is a handy guide to credit card charges and how to avoid them.

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Fees on Credit Cards

Some cards come with additional fees. If you use your card abroad, if you fail to keep up repayments, etc. – you’re then likely to incur extra monies which you really could have avoided. Hidden credit card charges like these shouldn’t necessarily be hidden as your provider should be very upfront with you about when to pay them and how much they should be, but it is surprising how many people don’t realise they’re there or feel confused when they feel they’ve been overcharged.

Go onto your provider’s website and read up about excess charges and make yourself aware of what you might be liable for.

Are There Add-On Services You Need To Know About?

There are hidden credit card charges known as add-on services that many people don’t know about. For instance, when you signed up for your credit card you might have been miss-sold services you didn’t want or need. Some credit card companies have been in trouble with the authorities for this after people complained that they had been either bullied into taking the extra services on, or that they were charged extra when they tried to cancel them. Many credit card issuers were forced to offer and pay out compensation to those people that had been affected.

Subscription Services

Some card companies will charge for recurring services and subscriptions. Many trial subscriptions to services will require you to give your credit card number and rely on you forgetting to cancel at the end of the trial period thus meaning that your card then starts to get charged every month. This can come as a shock to people when they get their statement and wonder what all the excess charges are for.

Keep track of anything like this and remember to make notes of any subscriptions you start, so you know if you decide not to go ahead with it, you cancel it before the end of the trial period and thus avoid losing an extra money.

Spotting Hidden Credit Card Charges

BillGuard which is a free credit card monitoring app stated that credit and debit card holders paid an average of $14.3million in hidden credit card charges over the last year. You can download this app if you have an iPhone or Smartphone and check your own accounts to see for yourself, but you certainly don’t need to be tech savvy to run the checks!

Of course, the best way to sort out hidden credit card charges is to check all your statements thoroughly once a month and make notes of any monies you’re not sure about. If you’re in any doubt at any time, contact your service provider to talk to them and get them to explain anything you do not understand. Chances are it will be perfectly legitimate but it is always better to be safe than sorry in cases like this.

If you do spot something that you’re not sure about, go back through your previous few month’s statements to see if the same “mistake” occurs on those too. If it does, again, check with your company to see if they can explain.

For other problems such as trial subscriptions that have taken money from your account without your consent you should always talk to the merchants themselves first to see if they can help you out. The terms of enrolment can sometimes mean you might not get any money back, but cancelling there and then will also mean that they can’t take any more money from you either. If the merchant continues to charge then you must contact your credit card provider to see if they can then help you out.

The best placed person to spot hidden credit card charges is you. You should always be the person who takes responsibility for their finances and keeps a check on where your money goes. Making sure that when you sign on the dotted line for any credit card, you know exactly what the terms of service are, is essential, and before you commit to getting a card such as this you should make sure that you can always afford to make the minimum monthly repayments on anything you buy and that you’re not likely to get yourself seriously into debt by taking a commitment like this on.

Going Overseas? Know How to Use Your Credit Cards Overseas Safely

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It’s a simple fact, traveling is very expensive. No matter whether you’re traveling for business, taking a short break or a longer vacation, everything from accommodation to tickets to sporting events or concerts will cost you money. Most of the money you’ll account for will be given over to merchants and shops at whatever destination you’re visiting – which can often pose some questions, such as is it better to take a lot of cash with you, use traveller’s cheques or take your credit cards overseas with you?

Bank-Cards

It simply isn’t sensible or workable to travel without any cash at all, and you’d be foolish to not have a ready supply of bank notes for emergency use only, or for if you are visiting somewhere that will not take cards. However, for the most part, taking and using credit cards overseas makes much more economic sense. Firstly, it prevents you having to worry too much about currency conversion rates – with a card you’ll automatically get the lowest rate possible. Credit cards are easy to keep safe – whilst it’s not something we necessarily want to think about, pick pockets operate in every country and it is easier to conceal a card than it is money. In the event your card is stolen, you report it straight away, get the card cancelled and hopefully there will be very little harm done.

Before You Go On Holiday

Check your credit (and debit) cards). A lot of banks and financial institutions might charge you a few for using the card abroad. Typically, it might only be 2-3% of each purchase you make, but it can still work out very costly if you do a lot of shopping or make a lot of purchases while you’re in foreign climes. Therefore, it makes sense if you’re using credit cards overseas to look into getting a No Foreign Transaction Fee credit and/or debit card that will protect you from such penalties.

When you get your new card, or if you’re continuing to use your regular card, make sure that well before you travel you contact your card provider to let them know when and where you’re travelling to. This is a must for two reasons.

1.)    You’re less likely to have your card suspended if your issuer suspects there have been suspicious transactions made on your card in a foreign country

2.)    If you’re stranded or stuck and you need to contact your card provider while you’re away, it makes it easier to do so free of charge, and not to incur any extra costs.

When You Arrive At Your Destination

Make sure you try and avoid a sneaky trick called dynamic currency conversion, when using your credit cards overseas, which many merchants abroad try to take advantage of. You might be offered good and services which the merchant offers to convert to US dollars in price for you, seemingly to be helpful, however, they often do this at a higher and not particularly competitive exchange rate meaning you can end up paying more. Although it might seem like a hassle it is sometimes better to only pay for goods that are displayed in the local currency and refuse to sign any checks that are not expressed in such a way.

In the USA, technology in terms of credit and debit cards is still a little way behind Europe, where things like Chip and Pin are now the norm. This means that using credit cards overseas can be slightly more problematic as the USA still uses the less secure magnetic stripe system which is easier to commit fraud on. You’ll still be able to use your card in foreign countries, but some merchants will demand an extra form of identity if you’re paying for goods, so make sure you always have your passport to hand as further proof of who you are.

Be Safe and Savvy but Still Enjoy Your Trip

All of this might sound worrying, or designed to create stress in a situation that should be enjoyable, but so long as you’re safe and savvy and know what you’re doing there’s no reason it should cause any extra hassle or worry. As long as you take into account the hints and tips in this article, you really shouldn’t have any problems with using your credit cards overseas. Make sure you:

1.)    Try and get hold of a No Foreign Transaction Fee Credit Card

2.)    Notify your credit card company when you travel

3.)   Avoid buying goods for which the costs aren’t expressed in the local currency

4.)   Check your statements thoroughly on return

Then you’ll more than likely find that you encounter no problems at all and that it is relatively easy to make purchases in foreign countries whether you’re simply on vacation, taking a working trip or a short break to see a concert or sporting event.

Top Reasons for Credit Card Denial

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It could be a very embarrassing experience to try to apply for a credit card only to be told that your application had been denied. You may be left wondering what factors are included in determining your eligibility to get a new credit card. Do not be too alarmed because you are not the only one who has been a victim of credit application denial. In fact, a reported 7% of United States citizens have had their credit application denied in the past year. And, according to the trend, that percentage will continue to increase each year. But still, you may be wondering why you were denied. Keep reading for the 10 most common reasons for credit card denial.

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1.     Did you complete your application?

It may be a silly question to ask, but a lot of individuals get denied a credit card because their application was not completed. If this is the reason for credit card denial, you will typically receive a notice of it being incomplete or a notice that further action must be taken. Until then, the application will be denied.

2.     How many credit cards do you already have?

You may be thinking that it is no one’s business how many credit cards you have. It you are thinking that, you are wrong. If a credit card company sees that you have more than one card, they could think twice about approving you for their card. Just put yourself in their shoes—if a person already owes other people money, how likely are you to let them borrow your money too? This reason for credit card denial is the same reason you may be quick to deny someone the ability to borrow money from you if he or she already owe others.

3.     Do you have steady employment?

Having a steady job is a huge factor in determining your eligibility to getting a credit card. So, another reason for credit card denial is because you do not have a steady job or have never had a steady job. No credit card company is going to issue you a line of credit if you have no means to pay it back. You must have a job as proof of the ability to make payments when they are due.

4.     Do you have proof of employment?

Saying that you have a job is not enough to get approved for a credit card. Another reason for credit card denial is because of the lack of proof that you have income. Proof of income can come in the form of a check stub or tax documentation. Sometimes, credit card companies allow you just to tell them if you are working or not. Others need proof of income. Your application will specify what documentation is needed to complete the application.

5.     Are you old enough?

Like everything else in the world, there is a certain age you must be before applying for your own credit card. Typically, it is required that you be at least 18 years of age when applying. So, another reason for credit card denial could be because you were not old enough to apply for one. In order for a minor to get a credit card, a parent or guardian must place the minor on the card as an authorized user.

6.     Have your creditors given up on you?

Another reason for credit card denial is because your credit report has one or more charge-offs on it. A charge-off is when the lender has stopped expecting you to make a payment on the account. This stays on your credit for many years and has a negative impact on your credit score.

7.     How good is your public record?

If you public record has bankruptcies, taxes that are unpaid, or court orders to pay money, this could be another reason for credit card denial. Public records are full of information that can affect your credit, in turn affecting the ability to get a credit card.

8.     How much is your income?

Another reason for credit card denial is your low income or lack of income. If you do not have enough funds coming in to manage credit card payments, you will be denied very quickly.

9.     What is your credit utilization ratio?

If you credit utilization ratio is higher than 30%, this could be another reason for credit card denial. For a good ratio, pay down your previous debts.

10.   How many applications have you completed?

If creditors see that you are constantly applying for cards, this could be another reason for credit card denial.  It is especially bad if every one of your applications is denied.

It may be an aggravating thing to get your credit card application denied, but the reality is that it happens, and it tends to happen more often than you may think. However, knowing the 10 common reasons for credit card denial will give you an understanding of what can be done to avoid any further denials. Do what is necessary to get your credit back in good standings so that when you apply for your next credit card, instead of being denied, you will be approved.

How to Dispute a Credit Card Charge

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If you have been in possession of a credit card for any real length of time, it’s quite possible that you have had some sort of charge to your card that you have had cause to dispute. It’s also quite possible that without the proper information, you have found yourself paying for something that you didn’t buy, for something that didn’t work, or for a package that you never received. These are all terribly unfortunate circumstances that can happen to the best of us because of something as simple as not knowing when or how to dispute a credit card charge. This article will make sure that you never have to pay unwarranted fees on your credit card again because of misinformation by teaching you when you can dispute a credit card charge and how best to go about doing so without your credit dropping like a rock.

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Why to Dispute a Credit Card Charge

If you have ever found yourself in a position where you have found yourself needing to dispute a charge, you may not have thought that it would be worth the trouble. Unfortunately, this is not the case. If you don’t dispute the charge formally, then the options that you’re left with are either to pay the charge (but why pay for an item/service that you never received?) or to leave the charge unpaid, which will lower your credit score. The best thing to do is to get the issue sorted out properly so that you’re not charged unfairly and your credit will stay up.

When to Dispute a Credit Card Charge

A credit card charge is something that needs to be taken care of in a timely manner to get dealt with effectively, but there is also a time and a place for it. The first thing is to understand when it is appropriate for you to dispute a credit card charge at all. Consumers are allowed to withhold payment on items that they bought with a credit card if the items are damaged, poor quality, or if the charges themselves are completely invalid thanks to the Fair Credit Billing Act. It is legal for you to withhold the payment for the specified merchant while you dispute a credit card charge.

While the payment should be withheld initially, before you begin to actually dispute a credit card charge, you should see if you are able to settle the conflict with the merchant who charged your card. As you do that, you’ll want to keep the following things in mind:

  • Treat the people that you speak to calmly, politely and most importantly with respect. People are more likely to be helpful if you treat them with such courtesies and you don’t want to start off making trouble for yourself.
  • If you’re buying from a retailer or any large company, they will most likely do their best to help you rather than cause trouble. If you’re addressing the issue in a timely and reasonable matter, they are likely to give you the benefit of the doubt and arrange for you to either get a replacement item or your refund.
  • If you’re talking to an employee or representative and they are unable to help you, ask if you can speak to the manager (who will very likely be more able to assist you.)
  • It’s always a good idea for you to keep a record of the interactions you have with the retailer or merchant in question just in case they don’t retract the charge and you find that you must dispute a credit card charge.
  • If simply talking to the person who charged your credit doesn’t work, it will then be time for you to dispute your charge and seek further action.

How to Dispute a Credit Card Charge

If you have found yourself in a situation where you have no option but to dispute a credit card charge, then you’ll need to know how to go about it in a way that will give you the best chance of winning your case without damaging your credit. Don’t worry; disputing a charge may seem intimidating, but you may have more rights than you know which will lend you an advantage. Credit Card companies tend to side with their customers as well, so as long as you act quickly and responsibly you should have no trouble winning your dispute.

  • Keep making card payments. Just because you’re disputing one charge doesn’t mean that you can or should ignore the other charges made to your card. Not making other payments will not only damage your credit, but put your credibility into question. It’s important to keep up with the payments on things that aren’t being disputed.
  • Put your dispute into writing. If the initial conversation with the retailer/merchant does not get the charge revoked, then you will need to carry on contact in the form of written word. Be certain to make copies of the emails you send (and the replies) and send copies of them all to your credit company as well as saving one copy for your records.
  • Send a letter to your Credit Card Company that officially states that you are disputing a charge. The letter must be sent within 60 days of you receiving the disputed charge, and should include your name, your account number, the charge being disputed and the amount it was for alone with any documentation you have to support your claim.
  • From this point, the credit card company will investigate the dispute. If they side with the merchant/retailer, then you will have to pay the charge. If they side with you however, you will be rewarded with a refund.

Smart Tips to Use Your Credit Cards While Traveling

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It’s summer – school day are coming to a close, and summer vacations are getting ready to start. No matter where or how you’re planning to travel this year, you’re probably going to use your credit cards while traveling.  Here’s some smart travel tips when using cards.

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Notify your Credit Card Companies

Before departing, call all your credit card companies and notify them of your destination and dates of travel. Identity theft is rampant these days and companies have become hyper-vigilant. If you use your credit cards while traveling to an unusual location, the company may phone you to authorize payment or worse, completely freeze your account and prevent you from using it. Most of the major credit card companies allow you to notify them online as well. Call the company or log in to their website before you go and save yourself some serious headaches and embarrassment.

Protect Yourself from Loss or Theft

When using your credit cards while traveling, you need to take some extra precautions to protect your accounts from loss or theft. A stolen purse or misplaced wallet can be devastating while away from home. Follow these tips to make sure your trip isn’t interrupted by the loss of your credit cards while traveling.

  • Keep a list of the phone numbers to each credit card company separate from your wallet or purse. Consider giving a copy to friends or family that won’t be traveling with you.
  • In the event of loss or theft, call and notify your card company immediately.
  • Take two different cards with you. One functions as your backup card should you lose the other.
  • If you have the option of having a credit card with a chip, take advantage of it. These “cyber chips” are embedded into the card and are designed to slow down hackers. They are standard issue in European countries, but many US companies don’t use them. There may be some overseas vendors that will reject a non-chipped card.

 

Take Advantage of the Perks

According to expert travel advisors, most people are not aware of some great perks that are offered with their credit accounts. Many of the major companies attach member benefits to their cards. These benefits can be extremely convenient and useful when using credit cards while traveling.

  • Referral Services. If you are in need of a physician or attorney during an overseas trip, many credit card companies offer no-cost referral services. You will still be responsible for the fees for the professional services.
  • Hotel Upgrades. Dependent on the hotel and the card company, you may be eligible for a room upgrade.
  • Luggage Coverage. You may have up to $500 coverage if your luggage is damaged or lost during your flight. Many of the US based airlines cover a certain amount, but often exclude cash or electronics. It may not cover the full value, but it may replace some of your belongings.
  • Delayed Flight. If you used your credit card to book your flight, you may be eligible for compensation for delayed or cancelled flights.
  • Rental Car Coverage. One of the biggest benefits is coverage for rental car damage. This is especially helpful when traveling overseas, where standard US auto insurance isn’t effective.

 

Take some time before your trip to familiarize yourself with the benefits of your credit account. Read your account agreement, check the website or call the company. You may get some extra benefits using your credit card while traveling.

Save on Fees

When using your credit cards while traveling to foreign soil, you may encounter currency conversion fees, even if paying in US dollars. These fees can tag on an extra one to three percent to your purchases. Some of the major companies have eliminated these completely, but it’s smart to find out before you go. Some other fees to be aware of:

  • ATM Fees. These can go as high as five dollars for each transaction. Know which machines your company uses or use a debit card which usually carry lower fees. Make one larger cash withdrawal, rather than several small transactions to save on repeated charges.
  • Currency Exchanges. Experts recommend avoiding offices or kiosks that offer currency exchange services. Their fees are generally higher that those charged by the card companies.

 

Check Before You Leave

Before leaving home or if you are on an extended trip, pay off your balance or set up automatic payments for your credit card bill. Doing this can help you avoid late fees or penalties. Know the credit limits on your credit cards while traveling to avoid transaction denial or expensive fees. Be aware of the limits and either limit your spending or request a credit limit increase to cover anticipated expenditures during your travels.

Following these simple and easy guidelines can make using your credit cards while traveling hassle-free, and help you avoid unpleasant surprises during your vacation or on your return home.

All about the Best Credit Cards

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When you are shopping around for a new credit card, it is always to know as much as you can about credit cards so that you can ensure you are getting the best possible deal for yourself. There are hundreds of types of credit cards, so how can you be sure which the best fit for your life is? Would you do better with a reward program card, or maybe one with low interest? When you compile the different types of cards together along with our five tips on how to pick the best fit, you will feel more confident after you have made your newest financial decision.

about the Best Credit Cards

Comparison Websites

The internet is a vast well known world that has a whole lot of information, especially customer reviews and critics who are sure to get their words out to the public somehow. There is one special tool that was created by world renowned search engine Google, which helps show the different types of credit cards side by side, showing interest rates, rewards, and other major factors that need to be brought into your decisions. Google is not the only website, so if you cannot find what you are looking for, do not give up… keep researching until you have the information that you need about credit cards.

Protection?

Different types of cards come to you with different types of protection, whether you paid extra or it is simply a standard feature with your company. You could have theft protection, extended warranties, and non-delivery protection. These are all very important in their ways, and should be taken into consideration when you are researching for your best fit credit card. However, it is okay to be picky on what protections you will receive; look for some that will fit your life style. For example: if you travel quite often for work or leisure, you might find it accommodating to purchase a credit card that comes to you with travel insurance. Even though this may sound too good to be true, you should always read the fine print included in the information to see exactly what you are getting in to with this credit card, and what exactly the card offer entails.

Freebies Are Not Worth It

We know that free t-shirt or pen can be very enticing, but more than likely when a company has to distract you with free items, it is not because they value you as a customer; it is because they are moving your attention to the good so you do not realize the bad. Becoming sidetracked by free stuff is just another way of credit suicide.

Unless You Have Zero Debt, Be Careful:

When looking at rewards cards, they can seem so beneficial and like the right type of card for you. Wrong. You may really benefit from this offer from this card; or you may sink down into debt with high interest rates. When you sign up for some type of reward plan, it is best to do it when you have no debt hightailing behind you, or you will face severely high interest rates. When you have debt, you need to know all about interest rates and credit cards to ensure you will not increase your debt over time.

Negotiate

Even if it is written in black and white in front of your face, it can probably be tweaked to better accommodate your needs, or even negotiated to better enhance your finances. If you have always had great credit and little to no debt, the company may be willing to work with you on your payments and interest rates. It never hurts to ask, and you will never know until you try. The more you know about credit cards, the more they will respect you. You just might score the credit card deal of a lifetime when you reach out to the company and ask about how much leeway they will give you for being such a good and prompt customer over the past years.

There is nothing wrong with signing up for a credit card that has extra rewards, or even that has a company that is giving you freebies, that is great if the terms are correct and you understand what you are signing up for. No one likes to be hit at the end of the month with hidden fees and confusion on how in the world they owe that much. Debt is a big factor that comes into play when deciphering between credit cards. Create a long term plan to pay off your debt so this will no longer be holding you back when you are looking to get lower interest rates and payments.  Always be careful when dealing with companies and ensure you know as much as you can about credit cards to make sure you are getting a great deal for your lifestyle.

Reaping Credit Card Benefits

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Every month a new credit card bill arrives in the mail, yet you dread going to the mailbox. You may find yourself wondering why you don’t just cut the little piece of plastic in half and all your troubles will disappear. Unfortunately establishing credit is an important part of adulthood, without good credit, it is hard to purchase important things like a car or a house.

However, there is a light at the end of the credit card tunnel that many feel they will never see. This light is called the credit card benefit.

Credit Card Benefits

 

Unknown Credit Card Benefits

What are these benefits?  We have a few things below listed that you may want to keep in mind when choosing your next credit card. Below are the top three reasons to have a credit card and be aware of these benefits.

·         Fraud

As you know many know accounts come with fraud protection. This valuable benefit protects the card holder from being held liable for any unauthorized charges should your card be lost or stolen.

·         Card Replacement

This credit card benefit is probably the most necessary one to retain. If you are on vacation or a business trip and have no cash, but have lost your card, most companies offer emergency cash or they can send you a new one within a 24 hour period.

·         Rewards

Many credit card companies offer reward programs for the card holder to take advantage of every time they use their card. This credit card benefit is a valuable tool when it comes to credit card usage. These rewards can get you many discounts on travel, vacation, air fare, hotels, etc. You may even get free stuff, just for using the card. These rewards may sound appealing so choose a credit card that has the best deal for you.

·         Returns and refunds

These credit card benefits are a hidden gem and one many are unaware of is possible. For instance, when you make a purchase at one store then find the same merchandise at a cheaper price at a different store, your creditor can refund the difference in the two prices, but beware because their may be stipulations involved. Another perk to having a credit card is the replacement of something that is damaged or stolen, once you have purchased it. Some not all credit card companies will replace the item as long it is within a certain amount of time. If you happen to wait too long to return something your credit card company may offer a longer return of 30 to 60 days.

Sidestepping the Dangers of Using a Credit Card

Despite the credit card benefits that are offered through credit companies, utilizing them will be fruitless if you act irresponsible with your credit card. Keep yourself out of credit card debt by following these simple steps

·         Living Beyond Your Means

Credit card debt is still a driving force in many American households today. The main reason is people are living beyond their means. A credit card is easily used as a weapon to gain a lot of material items as well as impressing your friends. Don’t bite off more than you can chew.

·         Budget Yourself

Almost all credit cards come with a limit. The limit is the line of credit the company has given you to spend for example Capital One may give you a limit of $500 this means you only have that much to spend. A word of caution do not spend the whole $500 because you have to pay it back with interest. Always include your credit card bill with your monthly budget so you know exactly where you stand financially.

·         Pay the Bill in Full

Once the bill comes in the mail pay it in full, this will illuminate the accruing interest and finance charges involved with credit cards. If it is possible only spend what you can pay off.

·         Request a Lower Interest Rate

This is the final credit card benefit people are unaware of, credit card companies can raise or lower your interest rate whenever they want, but they must give you notice first. A few things will happen as a result, first they will try to convince you to accept the new rate, second they will agree to not change a thing, third is both parties will come to an agreement to part ways and close the account then settle the remaining balance.

Everything that has been mentioned so far are just suggestions and guidelines to having a credit card. If the credit card is used responsibly these benefits can work in your favor. Use your common sense and try not to spend more than you can afford, so you can reap the benefits and not put yourself in a financial hole.  Final thought no matter how much you want to make an impression, it is your credit rating that will be affected.

How Do I Consolidate My Credit Cards?

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When you have several credit cards with balances it leads to further trouble because you have to pay off all those separate payments and interests which if not dealt efficiently can pile on to an enormous amount of debt and stress. You can adopt a debt snowball or debt avalanche approach; though they are the most commonly used techniques to get rid of the debt but it will still feel as if payments and higher interest rates are leaving you and your resources drained.

Consolidate My Credit Cards

If you are one of the millions of Americans going through a rough patch in your life due to serious financial troubles because of debt then what you need are consolidated credit solutions. In order to manage your credit card debt and take the debt off your neck you need to consolidate your credit cards.

How Does Credit Card Consolidation Work?

Credit consolidate solutions help you to take control of your debt and manage your finances more efficiently. These solutions provide you with right financial strategies and resources so that you can pay off your debt successfully and quickly and secure your future.

With credit card debt consolidation you consolidate all your bills into one payment. You take all your balances and put them in one place which means you have to deal with only one payment and its interest. This can allow you to manage your debt efficiently in no time because you are not dividing your payments. When credit card debt causes problems for your budget, you need to find a way to eliminate the debt quickly to avoid damage to your credit and bankruptcy. To consolidate your credit cards, there are three main options to consider:

Get a debt consolidation loan:

You can acquire a debt consolidation loan; you can combine all your existing debt and credit card loans into one regular payment. You can take a larger loan from a reputable and trustworthy company with which you can pay off your credit card balances. Now you to worry about only one payment and one interest which will help your finances and efficiency of your payments.

Balance transfers:

You can use a credit card balance transfer to consolidate your credit card debt (and maybe even get a 0% APR for a short period of time) or you can get personal loan or a home equity loan.

Debt consolidation companies:

It is advisable to be cautious when dealing with debt consolidation companies as they might charge you excessive fees while lending you the loan and also make sure the company you are dealing with is reputable. Some companies will advertise as debt consolidation” or “consolidation solutions” which is more like a management plan for debt payment or a debt settlement.

Consolidating your credit card is all about making situation more manageable and stress free. With the right guidance and approach you can reduce what you are paying overtime and will also help you in paying off you debt swiftly and diligently. Living a debt-free life is a distinct possibility. All you need is discipline and a solid financial plan.

Peer to Peer Consolidation Loans

One way of consolidation is by going to a peer-to-peer lender like Prosper or LendingClub. These lenders help individuals by matching up the individuals who plan to invest and earn from an investment with people needing low cost consolidation loans. The positive aspect of this type of an arrangement is that the interest rate on peer to peer loans is low as compare to the loan you get from a bank.

You can learn more about peer-to-peer consolidation loans and other types of debt consolidation, by visiting Debt Consolidation resource center.

Working Out Your Own Plan

If you’re in search of other available possibilities other than debt consolidation for your credit cards you can put together an automated plan that feels like debt consolidation if it’s not. There are tools that can help you to find solutions for your debt problem. They adopt a more individualistic approach by helping you create a personalized strategy to assist you in pay off you debt quicker. You can use these tools to pay off your debt without managing the payment on your own. The advantage of this situation is you don’t have to acquire a new loan nor worry about the credibility of the companies you are dealing with.

The important thing is that you formulate a manageable plan which will help you to get the debt off your neck in no time while lowering your payment rates at the same time. The only drawback to consolidate your credit card is that you can free up your credit cards again. If you want to live a debt free life you need to change your financial behavior to save yourself from economic troubles.