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Different Types of Credit Cards – Did You Know You Have Options?

This article provides readers with the different kinds of credit card options. It discusses standard credit cards, platinum credit cards and even prepaid cards.

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Debit Cards Vs Credit Cards

This article examines debit cards and credit cards in an effort to determine which one is the smarter financial vehicle. It provides readers with quality information about both types of cards so that they can make a wise decision.

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Credit Cards With Rewards Programs

Credit card reward programs are very popular in the world of credit. These credit programs are set up to reward users in a number of different ways.

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0% APR Credit Cards Can Accumulate You Thousands

Low interest credit cards are available as alternatives to those with middle-of-the-road to very high interest rates. If you have a credit card with a high interest rate anywhere from 17% to 24% or higher, then you may not realize that it is costing you hundreds and even thousands of dollars every year in interest alone. Once you understand your credit and how it is impacting your debt situation, you will see how low interest or even 0% APR credit cards can be a much better solution.

Gather Your Statements

Collect your statements for all high and low interest credit cards. Include Visa, MasterCard, American Express, Discover, department stores, retailers, grocers and any other revolving accounts. For each bill, make a record of the total balance, minimum payment amount and interest rate. You might also want to include your estimated monthly payment (if it’s more or less than the minimum) and the monthly finance charge.

Compare Cards

If you compare the numbers for each card, you will be able to see which ones are costing you the most money. The higher the APR and the higher the balance, the more you will end up paying in interest in the long run. And, if you only pay small amounts of what you owe, you can go on paying for over 20 years. Now you can see the benefit of having a low interest credit card.

Categorize Your Debt

Once you’ve figured out which are the low interest credit cards and which are high, you need to categorize them from highest to lowest. Then reorder them, if necessary, based on the estimated amount of interest you would pay for the entire year. In other words, if you have a high rate card with a low balance, the overall interest may be less than a low interest credit card with a very high balance. This step will help you to focus on the cards that are taking the most of your hard earned money.

Negotiate With Your Bank

Before you cut up your plastic or send it through the paper cutter, call you current credit card company. Many consumers don’t realize it, but companies would rather lower your interest rate than lose your business. Tell them that you’ve been offered a better deal on a low interest credit card. They may just match that offer, saving you the time and effort used to close and open a new card.

Shop Around For 0% APR Credit Cards

Some banks just won’t budge. You may have to do some digging to get a low interest credit card. Check online, talk to your local bank and sort through those direct mail offers. Ask your friends, family, co-workers and other acquaintances to learn about the cards they use.

Carefully Read the Fine Print

Many cards look too-good-to-be-true – 0% interest on transfers, lifetime low rate, frequent flyer miles, insurance benefits, etc. Often times, the offers are just that. 0% offers may only be applied to a limited amount or during a specific time frame. Fixed rates may increase if you so much as miss a single payment and so on. Pay close attention to all terms and policies, making sure to read the fine print. Don’t accept a low interest credit card until you are sure you understand all that is involved.

Maintain Good Credit

Now you can stop throwing money down the drain. Treasure your low interest or 0% APR credit card and maintain your good credit rating. Pay more than the minimum amounts and don’t get behind. Just as fast as you were able to lower your APR, it could jump up to astounding numbers.

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Dave Ramsey rants on credit cards


Dave Ramsey explains why credit cards are a scam for the middle class.

The Truth About Low Interest Credit Cards

A lot of people just look at low interest credit cards when they are looking to get a credit card for themselves. The credit card suppliers too advertise low interest credit cards more that any other kind of credit cards. However, should low interest credit cards be the only ones on your list when you are hunting for a credit card? Probably not. For some people, interest rate or the APR is probably the most important thing to look for when selecting a credit card. However, that doesn’t hold good for everyone. Low interest credit cards are good and should surely be on your list, but APR is not the only thing to look for.

Let’s start with understanding what an APR (annual percentage rate) is and where its importance lies. APR is simply the interest rate that is used to calculate interest on the balance in your credit account with the credit card supplier. There is no interest charge if you make the full payment of your credit card bill (by the due date). However, in case of a partial payment, you will need to pay an interest on whatever you owe the credit card supplier. The APR is backward calculated to get a monthly rate and the same is applied on your balance to calculate the interest for the applicable period.

That means, people who are not sure about being able to pay the full amount, every time, should surely look for low interest credit cards. A low interest credit card helps in reducing your total outgo by curtailing the interest you pay on your balance. So, low interest credit cards help in slowing down the rate at which your credit card debt builds up. Thus low interest credit cards are surely important for a particular group of people, as stated above.

Besides this group, there are others who don’t really need low interest credit cards. These people are capable of (and intend to) pay off their credit card bill in full every month. Their purpose in using a credit card is convenience and other benefits associated with the credit cards. So, be it low interest credit cards or high interest ones; it really doesn’t matter for them.

So the need for low interest credit cards is more felt by a particular group of people. However, even if you go for a low interest credit card, you need to pit the various low interest credit cards against each other (vis-à-vis the other benefits they offer)  and then select the low interest credit card that is best suited to your needs.

So, first you need to evaluate whether you need to go only for low interest credit cards and then select the low interest credit card that fulfils your needs. After all, you don’t go hunting for a credit card everyday.

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Facts About 0 Interest Credit Cards

Before acquiring the 0 interest card, you should have a fair idea about the basics of the low interest credit cards. The low interest cards are one of the most popular cards yet in the international market. As the name suggests, the ’0′ interest is the main catch. It basically means waiving off the interest but only for a particular time.

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How to Choose the Top Credit Cards For Your Needs

Choosing a credit card can be problematic and confusing. Just how do you know what you need and what to look out for. This article explains the key criteria you need to consider to help you choose the top credit cards for your needs.

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How to Establish Your Credit History Using Balance Transfer Cards

Life can be so stressful when debts keep piling up. Hardly can you focus anymore on what’s going on and you simply can’t believe this is happening in your life. It pays to increase and fix that score and fast.

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Will Credit Cards Go Obsolete?

Will Credit Cards Go Obsolete?

Are credit cards going obsolete?

At Contactless, a leading provider of advanced, open-standard contactless chip technologies, and First Data, a global leader in electronic commerce and payment processing services, announced that they have signed a three-year agreement to develop contactless payment stickers, which will be marketed by First Data as GO-Tag products. With this agreement, INSIDE will supply MicroPass payment sticker prelams exclusively to First Data-qualified card manufacturers for production.

The agreement leverages the core technology from INSIDE Contactless and the issuing and transaction processing power of First Data. First Data will be marketing and distributing GO-Tag products to financial institutions, major U.S. merchants, and other distribution channels in a variety of form factors.

The general manager of Mobile Commerce and Point of Sale Solutions for First Data, Barry McCarthy, said that “First Data’s GO-Tag Solution represents an important step in the evolution from today’s plastic cards and fobs, offering a bridge to the future of mobile payments”. “Our partnership with INSIDE Contactless enables us to offer consumers an opportunity to turn just about any personal item, from a mobile phone to an employee ID badge, into a payment device.”

It’s the versatility of the MicroPass platform to support a variety of contactless payment applications and form factors, also stickers, that highlights their agreement.

You might also want to consider updating your restaurant POS system to Contactless credit card acceptance in the near future, because their technology is becoming more and more common in the marketplace. Customer service is all about speed and the faster we can process transactions at the restaurant point of sale terminal the better our customer experience will reflect on the value of our services.

The author of this article writes for POS-For-Restaurants.com, a VP of Customer Relations with over 20 years experience in restaurant point of sale system, helping restaurant owners nationwide increase their efficiency and bottom-line profits.

You may visit POS-For-Restaurants.com for more information on how our national network of restaurant point of sale experts can help your business achieve greater success in these difficult economic times.

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