In my last post I said when credit card usage is bad. Now here is when using a credit card can be good.
When Credit Cards Are Good:
MoreMerchant.com Credit Card Help, Tips, and News
In my last post I said when credit card usage is bad. Now here is when using a credit card can be good.
When Credit Cards Are Good:
Credit Cards of course can be necessary. There are times that the use of credit cards can be bad.
When Credit Cards Are Bad:
It is best that you establsh and maintina a good credit report. How do you know what your credit report says?
AnnualCreditReport.com was created by the three main credit reporting companies, Equifax, Experian, and TransUnion.
Under the Fair and Accurate Credit Transactions Act (FACT Act), consumers can request and obtain a free credit report once every 12 months from each of the three credit reporting companies.
If you give one:
Buy store-specific gift cards with a lengthy period before expiration.
Buy the cards from a bricks-and-mortar store and use a credit card or check for the purchase.
Purchase the cards as close to the gift-giving occasion as possible to allow the recipient more time. Look for cards that still allow the recipient to collect some benefit when the activation period has ended.
Read the fine print.
If you get one:
When you receive a gift card, use the card as quickly as possible.
Know your balance. Try to max out the card quickly, rather than leaving small balances. Gift card companies make a lot of money off of these small amounts left on gift cards past expiration. Better the money goes to your purchase.
These are great gift card tips. I strongly recommend you read the print. Gift Cards are hugely profitable for stores for one reason only. Consumers don’t know they have and are often left with nothing.
From our partner:
Do you NEED a lower credit rate? You most likely will not get it if you do. If you don’t need it, have a credit score 700 or above, than you can most likely get a lower credit rate. If your credit is bad, you’re late on your payments or you have cards that sit at the max, your lenders are most likely more worried that you are going default than go to a competitor. That will definately make it harder to get a lower rate.
This is a great article and I recommend everyone that has or is trying to get a credit card take a look at it. It can save you a bundle.
Corporate credit cards: Handle them with care: South Florida Sun-Sentinel
It’s always easier to spend someone else’s money. When it comes to a corporate credit card, though, don’t become reckless. Otherwise, you could put your credit history at risk or be on the hook for charges.
More than 50% of corporate cards have the business on the hook. The shocking fact is that over 37% have the employee on the hook. Meaning that if it is paid late it hurts the employees credit.
Go talk to those in charge to find out how your company is if you don’t know. You definately have something at stake.
It seems that more and more people are carrying more and more credit cards. This is a dangerous trap to be getting into. I recommend at most 1 – 2 credit cards. For most people I recommend 0 – 1. Why more? If you can’t afford what you want, you don’t deserve it. There are reasons to use one and then pay it off when the bill comes or sooner with online payment.
It is not good to be getting into multiple credit cards. Many people have a hard enough time tracking what they spend, it is not a good idea to multiply the mess 5 times.
Here is this story:
FinanceDaily – 2.7 Million Own Five or More Credit Cards
Credit card fever is continuing unabated, with one in every seventeen British adults carrying five or more in their wallets, new research shows. Figures from MoneyExpert.com show that as many as 2.7 million Brits have either racked up such large debts or have chopped and changed credit cards so often that they now own at least five each.
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