Selecting the right credit card for you
Money is a medium of exchange. The statement doesn’t holds true in today’s parlance. Money has almost been replaced by plastic money, better known as credit cards. Credit cards are an accepted medium of exchange and are widely used medium for transactions across the globe.
Recently I went through Applyforbestcerdit.com, there I found all necessary information regarding credit cards its usage and application. It discusses about different kinds of credit cards viz. reward cards, cards for business, student credit cards. And, their aim is to cater the applicants with the best credit card suited to their requirements. A number of factors are taken into consideration for this purpose. For instance, those who are having a good credit score and history are eligible for getting more favorable terms and conditions.
The most interesting section that attracted me is its Fraud section. A vivid description of the pros and cons of using plastic money has been explained here. Though plastic money has actually accelerated economic and business transactions, it has a few marked drawbacks within its fold. As we know, credit card happens to be one of the finest specimens of technology. And, technical loopholes are sometimes used as a weapon in hands of crafty individuals to ruin the financial wellness of the card holders. Sneaky fraudsters can easily steal credit card details without the knowledge of the cardholders and use it to their advantage.
Applyforbestcredit aims to make the visitors aware of these probable hazards associated with the use of credit cards.
Besides it provides useful information in matters of credit score, protection of identity thefts, and also cash advance cards. All its efforts are directed to cater visitors with essential information on credit and direct them with needful guidelines to derive the best use of credit cards.
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Comment by Admilson — April 30, 2008 @ 5:56 am
devray,
very important issue about credit card. the aged people generally are not cautious all the time; so many frauds are happening these days. by the way, I visited www.applyforbestcredit.com site, indeed informative on this issue. keep up good work
Comment by jessica — May 2, 2008 @ 12:52 pm
Thanks devray, you have selected the right topic for us
Comment by chitrabhanu — May 7, 2008 @ 4:38 am
Credit cards are very easy to manage and can reduce your costs, but only if you astutely stick to the following:
1. No fees. Why pay fees when so many credit cards do not require it? The sole exception here would be if you rent cars a lot and pay for a fee card that covers car rental insurance.
2. Almost all credit cards give you up to 51 days of grace to pay. For example, my main credit card sends out its statement on the 6th of the month. So if I buy a big ticket item on the 6th, I won’t be billed for it until the next month. And then, I’ll have 21 days to pay it. So, if you can put off purchases until the next statement date of the card you will charge it to, you will get the maximum benefit of the credit.
The only hitch with that 51 days of no interest is you have to…
3. Always, without exception, pay off credit card balances when they are due. Period.
4. Corollary to 3. is that you should never charge to a card what you won’t be able to pay when the bill comes in.
5. Never “finance” a vacation or big ticket item off of your credit cards. Save for it or borrow from the bank if you need to, but never charge to your cards what you won’t be able to pay off when the bill comes in. And it will.
6. You really do not need more than 2 or 3 credit cards. If you have more than that, start canceling the least desirable ones at the rate of 1 card every 6 to 9 months. (Faster if you have no hanging debt on cards) Why? Quickly winding down your overall credit while holding debt will adversely affect your credit rating at Equifax and others.)
Exceptions, carefully managed “reward” cards can bring benefits in end of year credits and other rewards. Just make sure you stay “in bounds”.
Do you get those mailings from American Express to transfer your other cards to them for an intro, really low rate? It is tempting to take advantage and if you are really in position to transfer and then pay it off before the normal higher rate kicks in, then by all means, go for it.
But ask yourself this question: Over the past 5 years have I astutely kept my credit card balance at 0? Have I dug myself out of a deep hole over a period of 6 or more months successfully? If the answer is no, or even qualified, then forget it. You’re better off borrowing at the bank to clear your cards.
Credit cards are a bane to those who do not use them wisely.
They are a great tool for those who do use them wisely.
Comment by First Capital — May 15, 2008 @ 10:43 pm
Hi First capital,
Thanks for your comment. The points you have raised is very much true and it will surely guide visitors. Keep visiting, best wishes from myself.
Comment by devray — May 19, 2008 @ 3:19 am
Thanxs for posting a nice content. Really it look great. keep up the good work. best of luck
Comment by Suresh Kumar — May 19, 2008 @ 1:44 pm
Good credit card advice. I never would have thought you would have found the fraud section a place to look for that information.
Comment by Barry — May 21, 2008 @ 4:12 pm
A lot of people do not look at enough of the information to make a good decision. Nice post here.
Comment by Barry — May 21, 2008 @ 4:13 pm
Hi:
I am here and enjoying the envious spot, with an enviable audience who are all bent on following your lead: Educating us about the dollar–making us dollar wise. Period.
Wonder if you have noticed this: YouTube - Where does money come from? (Money As Debt, multi-part set)
Stay in touch.
Best wishes, MT
Comment by Dr. Mohamed Taher — May 24, 2008 @ 9:33 pm
Very good article and congrats.
Comment by Peeter — May 27, 2008 @ 2:14 pm
I would be cautious submitting requests to this processing company, you will unknowingly submit vital information that most likely will be sold to numerous companies, and may be bombarded by hundreds of junk emails, phone solicitations and mailings. Major credit card companies all have their own websites to get credit, and I suggest going that route. It is crazy the types of solicitations my bankruptcy clients receive just for filing bankruptcy!
Comment by Terry Leeders — May 28, 2008 @ 10:53 pm