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A Credit Card Glossary of Terms
The Credit card industry comes with a lot of jargon. You can't
be expected to recognise all the technical phrases employed and
some of them could be very important. Listed below you will find
a quick description of the most common credit card...
Credit Card Issuers to Restart Charging Annual Fee
It seems that the major UK credit card companies may be forced
to reintroduce an annual fee to claw back lost profits due to
bad debt.
This is according to a report "Precious Plastic 2006" issued by
the accountancy firm Price Waterhouse...
How To Improve Your Credit Score - Even If You Are Not A Financial Expert!
If you have less than perfect credit, and you've ever tried getting a loan or credit card, then you know just how much poor credit can cost you.
So, the next step to getting yourself completely out of debt is learning how to clean up your credit...
The Ins and Outs of Credit Card Debt Settlement
Are you a self-confessed shopaholic who buys anything and
everything that you get your shopping addicted hands on? Such
thoughtless and impulsive buying will most likely result in the
accumulation of a bunch of junk that will simply collect...
Which Business Credit Cards with Reward are the Best?
Thinking of applying for a credit card with a reward program to help you and your business? Here is a brief guide to some of the best programs on the internet.
The Platinum Business Credit Card with rewards from American Express is a great...
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Options for the Best Credit Card
Consumers who want to maximize their options on a credit card
should first find out all the terms and related costs associated
with a particular card. For those who feel that the best credit
card is one that is low-rate and no-frills, they should
determine if the card has annual charges, as no-frills users do
not need to pay such fees. Some upscale prestige cards, air-mile
credit cards and similar rewards packages collect annual fees in
exchange for perks, services and other rewards.
The definition of a best credit card varies depending on
personal preference. Individuals currently have many options
available in the market, including instant approval cards, cash
back credit cards, low-interest credit cards and prepaid debit
cards.
The percentage rate (APR) is another crucial element users must
weigh before signing up for what they feel is the best credit
card in the market, particularly those with balances, as lower
interest rates mean lower payments for carriage and substantial
savings.
For fixed-rate cards, owners can expect interest rates to be
more stable - a credit card on 12.99% interest is likely to
remain at that level for a relatively longer period of time
compared to a variable card. However, holders decided on
securing the best credit card should be aware that even
fixed-rate terms could change, although card
companies are
required by law to issue a written notice for any rate
adjustment at least 15 days prior to their affectivity.
Variable-card customers need to know if their plans feature
minimum APRs, or 'floors' - the lowest-possible levels that
interest rates could fall to, inclusive of any adjustment by the
US Federal Reserve. A Bankrate.com poll indicated floors for 24%
of variable-rate issuers surveyed, with 75% of that group
already at minimum APRs through October 2001. This means that
the interest rate on these cards will only go up in the future.
How long or short a grace period is for settling balances is
another factor that customers seeking the best credit card
should consider. Since interest charges kick in when the grace
period lapses, a company offering longer grace periods means a
more extended time for users to settle outstanding obligations
without paying interest before their next card purchases are
penalized.
Individuals seeking the best credit card deal should also be
aware of all penalty policies covering missed payments,
purchases exceeding the limit or balance transfers. First USA
and other providers have a $35 ceiling for such transfers, while
Citibank has a $50 cap.
About the author:
More information about credit and credit cards is available at
stooze online
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| News and resource directory about credit unions. |
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| Drowning in debt? Trying to improve your credit score? This is the place for you. Get real world information and tips, as well as the legal low down, ... |
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