Why Should You Use Credit Cards
Believe it or not, the way society, especially the commercial side, is set up these days, the only alternative to using credit is to pay cash for everything. But it's actually quite hard to do that. For example, if you want to rent a car, you have to have a credit card, even if you pay cash for the rental. The reason for that is because once a company has your credit card with your signature, they'll never lose money. If you default on anything, or if extra charges come up later, all they do is charge your credit card. Many companies require a credit card before they'll do any kind of business with you, for that very reason.
After you enter the workforce, it's a good idea to apply for a credit card with a small limit. Any one of the major credit card companies will help you. Those companies are Visa, MasterCard and American Express. Buy something with your credit card, and pay it off as fast as you can. That's the basics of establishing a good credit record. If you continue to do that, buying bigger and bigger items and paying them off, on time, then you'll end up with an A-1 credit rating. Then when you want to make a major purchase, like a car, or a house, you won't have any trouble qualifying at the bank.
So there's good value in using credit cards. They allow you to buy something you want now, enjoy it now, and pay for it later. That's the reason credit was given in the first place, way back in the 18th century - to allow you to buy larger items like furniture, that you couldn't afford to pay cash for. The system worked great, and still does today - as long as you don't abuse it.
Chris Dodd is the author of many informative articles on finance issues. Here at Low Apr Credit cards you can find the latest offers and credit card deals to help you reduce your overall credit costs.
MORE RESOURCES:
 |
|
|
RELATED ARTICLES
Choosing A New Credit Card
1. Choosing A new credit cardThere are many reasons for choosing a new credit card.
Credit Help for Real Estate Financing: Credit Scores
When you buy real estate, lenders run all of the "big three" credit bureau reports. Each credit reporting agency lists your credit history as supplied to them by the individual lenders and includes governmental records.
What You Didnt Know About Your Credit Card Numbers
Have you ever really looked at your credit card and tried to figure out what that huge string of numbers really means? Do these card issuers have so many customers that your account number has to be 16 digits long?You may be surprised to know that all those numbers you see actually do stand for something, and it's not just who you are. Let's take a look.
Credit Repair: How To Deal With Your Creditors
If you are in danger of credit problems because you have more debts than you can handle, there are things you can do at least keep your creditors reasonably happy.First, prioritize your debts or rank them in terms of the ones that can give you the most trouble the quickest.
How Credit Scoring Works
The all important credit score! It determines the amount of loan you can get, it determines the interest rate at which you are charged for a loan, etc. Your credit score plays an important figure in your financial life.
The Art of Stoozing to Make Money from Credit Cards
Make Money from StoozingStoozing, this is a sophisticated method of making money from credit cards that offer 0% introductory periods, the method requires cast iron discipline in never spending on the cards.But, I hear you all ask - what is stoozing and can I do it?Stoozing, in the simplest terms is borrowing money from credit cards that offer a 0% introductory deals and saving that money in a savings account for the duration of the offer on the credit card.
Ethical Finance: Who Benefits From Our Spending?
On one hand consumers are being universally criticised for running up significant amounts of debt on credit cards, yet conversely many companies are capitalising on the growing credit card debt, from charities and political organisations to football clubs, the Association of Surgeons and somewhat ironically ActionAid, an international development agency whose aim is to fight poverty worldwide.Financial comparison site moneynet.
Your Credit Card May Be Costing More Than You Think!
Do you know what your credit card is truly costing you? Many
people assume that they do, but aren't familiar with the
hidden fees that many credit card companies are charging. In
fact, if you don't keep close tabs on your credit card, you
may end up paying hundreds of extra dollars per year-without
ever really knowing it!And if you're trying to budget your money, those hidden fees
can add up!Let's take a look at some of the most common credit card
fees, and then talk about how you can avoid them.
Credit Counseling Basics
Credit counseling is an option you might want to consider if you are having financial problems. The stress can be overwhelming when you have creditors calling you daily to collect money that you simply don't have.
I've Heard About FACTA; What Does It mean?
What FACTA means is that if you, as an individual, lose the information on anyone you have ever hired; or, for any business in the United States of America that collects any personal information on people, if the information should be lost due to not destroying the information properly, then two things can happen. First, there are federal fines of up to $2,500.
Credit Trap: What They Dont Tell You About Credit Cards In College
In industrialized nations, going into debt starts early. It's easy for an eighteen-year-old to get credit cards and fall into debt, especially if they're headed for college.
Avoiding College Credit Card Traps
Congratulations college freshman! You're about to embark on one of the most exciting times of your life. By now your parents, siblings, and friends have offered you all kinds of advice on how to make your transition to college smoother - how to get along with your roommate, what classes to take and which ones to avoid, where to find the best off-campus food, and how to stay safe on campus.
Important Things to Know About Divorce and Credit
Joint debts remain joint debts.Both spouses signed a legally binding contract with the creditor, and a divorce decree neither amends this contract nor relieves the creditor's investment in you.
10 Ways To Protect Your Financial Identity Being Used For Someone Else's Shopping Spree
Someone impersonating you could be spending your hard-earned money.Impossible! Not really, check, loan, and identity fraud are a real problem.
What Should I Do If I've Become a Victim of Identity Theft?
Identity thieves take advantage of everyday opportunities to discover your personal information and use it to commit fraud or other crimes. The good news is a victim of identity theft has more options today than ever before.
Different Ways to Borrow Money
There are many different ways to borrow money. Outlined below is a useful guide to some of most common ways of borrowing money.
Sound Advice For First Time Credit Card Users
If you are just entering the world of credit cards, there is important information you will need to know in order to manage your credit and your finances effectively. Establishing good habits and a good credit history now is the foundation for a solid financial future.
What Does Your Credit Score Tell You?
When you apply for a loan or a mortgage, the first thing the lender does is to check your credit score. Based on your credit score, the lender decides the amount of finance you are eligible for and the interest rate at which you will be charged.
UPS Delivers the Goods, Your Identity
Well now we add CitiGroup and UPS to the Identity Theft corporations who have allowed Americans identity to be lost. Each time we have another identity theft case, we find larger and large numbers being lost.
Your Consumer Rights
If you have ever fallen behind on your debts you already know
that dealing with your creditors can be a hassle. Sometimes
it can be downright humiliating.
|