It is just impossible to imagine a world without credit cards. From a couple of cups of coffee to going on a vacation in the Bahamas, credit cards are all it takes to make your dreams a reality. But recent developments have caused the credit cards to be viewed as nothing but a tool for getting people deeper into the quicksand of financial ruin. So where are credit cards taking its consumers? And what can people do to minimize the negative effects of the current trends in the credit card market?
Standard Interest Rates Continue Rising
An astounding 80% of all credit cards issued nowadays have variable interest rates. This means credit card companies who issued this type of credit cards can raise the interest rates paid to them every time the Federal Reserve raises benchmark interest rates. Sadly, interest rates are rising as minimum payments for credit card accounts have also been rising; this is the result of a change in the way minimum required payments are computed, which is now designed to allow borrowers to pay a little of both the principal and the interest.
Continue reading “The Course of the Credit Cards What Can People Do?”
If you are always on the go and you find yourself making various purchases, you would definitely want to avail yourself of the benefits of having a gas credit card. A gas credit card is usually properly marketed and packaged, often in the form of having a rebate system for your gas expense each time you use the card. Gas is very expensive and continues to be a need in this system of speedy transportation activities. Until all the other alternative sources we could possibly get for cars are thoroughly exhausted for our benefit, gas remains to be its top source of energy.
A gas credit card offer has a very tricky appeal to it in the sense that it seems to double as a credit card and rebate system for your gas money. You can make various purchases as you always have with a regular credit card, but the difference is that with a gas credit card, you have the bonus feature of gaining a little extra for your gas. Most major gas companies support gas credit cards, but if you really want to make sure you are getting the best out of your gas credit card, check beforehand which companies will support the card company you are about to sign up for. Also, it would help for you to check your frequency of visiting the gas station to determine how much you are really going to save in gas money when you do apply for a gas credit card.
Continue reading “Gas Credit Card 101”
A credit card is a piece of plastic card that can either help the user budget his finances or cause him a chain of troubles. This involves a credit system where the issuer lends the user a certain amount transpired in his account and the user pays his balance at the end of the month or billing period.
This balance is charged of no interest if paid off dutifully at the end of the month. Otherwise, the charge rate rises each month the user fails to meet his obligation.
A credit card is advantageous if properly used.
This provides the user the privilege to shop anytime he wishes even without cash on hand given that the balance is paid in full and on time. It is more convenient than carrying cash in your pocket, which is susceptible to being lost, or be in accidents. It will also help you in establishing a good name in terms of credit. The credit card is a convenient way of purchasing and paying for services or goods both in the typical stores and online stores because of its easy access features. More important of all, it provides incentives that you can enjoy. These incentives come in reward points and are redeemable.
Continue reading “How to use the Credit Card Wisely”