Credit Card Tips

Are You Qualified for a Credit Card with Airline Miles Benefits?

Credit cards are quite popular amongst consumers simply because they make purchasing larger items or preparing for emergencies more convenient. With a credit card, you can purchase expensive items without having to save up for the total price of the item. Essentially, a credit card has the potential to ease the financial burden of big purchases.

Airline Miles Benefits

Credit cards can also be beneficial because they provide consumers with additional perks and benefits. For example, some credit cards allow you to accumulate airline miles benefits with every purchase made using the card. A customer can save up these airline miles benefits and exchange them for an airline ticket to the destination of his or her choice.

Airline credit cards are some of the most popular credit cards on the market today. Many consumers want these credit cards because they are looking for ways to save money on travel. Before you can get a credit card, though, you must make sure that you are qualified for a line of credit. Here are a few things that will help you determine whether or not you are qualified.

Qualification Involves More than Your Credit Score

First, it’s important to understand that qualification for a credit card involves much more than just your credit score. A credit card company will issue credit cards to consumers with credit scores in a specific range, but you need to perform your own qualification check to ensure that you are personally ready to accept and manage a line of credit.

Are You Financially Stable?

In order to determine whether or not you are personally qualified to have an airline mile benefits credit card, you need to evaluate your current financial situation. Financial stability involves a steady job and the ability to make regular monthly payments for recurring bills. If you cannot afford your bills from month to month, you probably aren’t qualified to have a credit card.

Have you Created a Budget?

Creating a budget and practicing good financial management is another important step in determining whether or not you are qualified to have a line of credit. Individuals who pay very little attention to their own finances or who haven’t practiced creating a budget and sticking to that budget are far more likely to exceed their means and create a bad debt situation for themselves.

Conclusion

Evaluating these factors will help you determine whether or not you are qualified for an airline mile benefits credit card.

Read More

Things to Remember When Choosing a Credit Card Company

Many consumers are interested in securing a high quality credit card in order to cover the payment for an expensive item or to provide a security blanket in the face of an emergency. Of course, it’s never a good idea to apply for credit cards simply to cover regular monthly expenses. If you overextend yourself with debt, you can find yourself in a difficult situation. If you plan on using a credit card responsibly, though, here are a few things to consider when choosing a credit card company.

Inquire About Fees

Always ask about fees before you sign up for a credit card. Late fees, early payment fees, and even fees for not using your credit card can sneak up on a credit card user.

Know Your Interest Rate

Also, it’s important to know precisely what your current interest rate is and how that interest rate can change in the future. A climbing interest rate is one of the most common causes of a monthly credit card payment that is simply too high for a customer to easily afford.

Choose an Established and Reputable Credit Card Company

Above all, it’s important while choosing a credit card company to work with an established firm with a reputation for high quality customer service. There are new credit card companies popping up every day around the world, and these credit card companies may try to entice customers with promises of low interest rates or perks that simply sound too good to be true, which may indicate an issue in the fine print.

These credit card companies often try to make headway in the credit industry by charging exceptionally high interest rates after an initial grace period. So, your interest rate may be exceptionally low for the first few months using your credit card, but the rate can jump up with very little warning, leaving you with a much higher monthly payment.

Benefits of Established Credit Card Companies

When you choose a reputable credit card company, however, you take fewer risks. These credit card companies have established themselves as businesses that provide excellent customer service. They aren’t trying to swindle customers. Instead, they are in the business of forming lasting and mutually beneficial relationships with customers.

Conclusion

If you follow these basic guidelines when choosing a credit card company, there is no reason why you shouldn’t be able to find a credit card company that offers low interest rates, great perks, and superb customer service.

Read More

Can a Credit Card Be Beneficial to Consumers?

The credit card companies of the world are often vilified by consumers and financial advisors who suggest that owning a credit card is the absolute worst thing that a responsible consumer can do. The reason this myth is perpetuated throughout the world is that many people receive credit card offers in the mail and immediately sign up for a credit card before they have weighed the cost and evaluated their current financial situation. This often happens with individuals who are between the ages of twenty and thirty. During this time period, inexperienced consumers accept a variety of credit card offers, max out their credit cards, and then get slammed with huge monthly payments that they simply cannot afford.

Credit Card Benefits

This is the worst way to use credit cards, and if you pursue this financial route, you will have financial troubles in the near future. However, the fact that this is an issue that affects consumers does not necessarily mean that all credit card offers are dangerous. In fact, credit cards can actually be beneficial to consumers. Not only will consumers be able to pay for expensive items over a longer period of time and boost their credit score with on-time payments, but there are credit card benefits and incredible perks to valued customers. Here are a few examples:

Earn Cash Back on Purchases

Some credit card companies give a percentage of a consumer’s expenditures back to the customer at the end of the month. If, for example, you use a credit card to purchase fuel, clothing, or restaurant food, you can earn cash back, and this cash will show up directly in your credit card account or be sent in the mail via check.

Save Money with Retail Shopping

You can also receive bonus points and gift cards to your favorite retail establishments by using a credit card. Some credit card companies have deals with big name retailers, and these retailers offer hefty discounts for individuals who use a specific credit card when making purchases.

See the World with Free Airline Miles

One of the most valuable credit card benefits is a customer’s ability to earn airplane miles simply by using a credit card to make basic purchases. Each time you buy something with a credit card, you’ll earn travel miles. When you get a certain amount of miles, you can exchange them for a real airline ticket to the destination of your choice.

Read More

4 Great Ways to Save with a Credit Card

A credit card is an alluring concept for many individuals. You can pay for the items you need or want without actually having the money in the bank. While credit cards are convenient and beneficial, they can also be problematic if used irresponsibly. Here are some common credit card pitfalls and steps for avoiding them.

Maxed Out in a Hurry

Maxing out your credit cards within a few short months may result in a massive monthly payment that you simply can’t afford. It’s a good idea to use your credit card slowly and methodically. Some people set personal limits well below their credit card limit, and they may even decide to pay off the balance completely before using it again.

Multiple Credit Card Problems

Opening multiple credit cards can also be problematic for the inexperienced credit card user. Too many credit cards can get confusing and complicate the repayment process.

Missed Payments and Late Fees

Missing payments is one of the most common pitfalls for individuals with credit cards. Every time you miss a payment, you’ll be penalized with late fees and hidden charges. These charges may even be added to the principal amount of your credit card. If you rack up excessive late charges, any perks such as airline miles may be removed from your account as well.

Sudden Jumps in Interest Rates

Another credit card pitfall that often catches consumers unaware is a sudden increase in one’s interest rate. The interest rate is very important in determining how much money you will be required to pay your creditor each month. Many people pay more in interest than they originally charged to the credit card.

If your interest is advertised as quite low, you might think you’re getting a great deal on a line of credit. However, the fine print may reveal that this low interest rate only applies to the first few months of service. After this trial period expires, and after you’ve accumulated a great deal of debt on the card, the interest rate can spike and you’ll be slammed with payments you simply cannot afford.

Save Money With Credit Cards

A credit card doesn’t have to be the kiss of death for your bank account. You don’t have to struggle to make payments or flounder in a pool of overwhelming debt. If you use credit cards responsibly and avoid these common credit card pitfalls, you can have a line of credit that will actually improve your financial outlook and add to your sense of financial security.

 

Read More
Page 3 of 3123