Credit cards have become a way of living today. We can not do away with it and why should we? Credit cards are a complete package these days. Apart for the basic task of making financial transaction on credit for you that you are supposed to pay by month end, they are in to whole lot of other things.

Credit card activities are so diversified these days, they are required in almost every place. Apart from the regular credit cards there are also –

·        entertainment credit card

·        gas credit card

These credit cards make living simpler.

There are various types of credit card to fit in every pocket –

·        secured credit card

·        unsecured credit card

·        pre paid credit card

These credit card companies have a huge base; they cater to the needs of every section of society and also lure them with special offers suiting their interests. Market has special credit card for –

·        credit card exclusively for women

·        credit cards for students

·        credit card for people with good credit history

·        credit card for people with poor/bad credit history

These credit cards have a holistic approach in the offers they give. These offers are useful for all the three parties involved, user, trader and credit card issuing company. Let us have a look at the attractive offers of credit cards –

·        air mile reward points for frequent fliers

·        cash back offer on total purchase

·        gift certificates

·        reward point redemption

·        vouchers

·        free dinner for premium customers

·        free tickets to popular shows

The list is endless. Every other day there is a new addition to this list.

There are a few terms that one should be aware of while dealing with credit cards. This financial terminology can be a little confusing for the first time users but once you understand them, it is a smooth sail. These terms are –

·        Annual percentage rate

·        Interest charges

·        Balance transfer charge

·        Penalty charge

One should know the rates and basic calculation process of these rates to be on the safer side.

Security has always been one of the biggest drawbacks of credit cards. Though, this has never diminished the enthusiasm of credit card buyers and users. There are few things one should always remember while transacting with credit cards. First and the fore most being- never let the credit card out of your sight. In case of theft or fraud immediately inform the concerned credit card company.

United States Federal Law is strict on these credit card frauds. One need to be cautious of internet scams. Hackers break the encrypted code and then misuse the credit card details. When ever you are making any transaction with your credit card via internet, make sure that the website is well protected and log out as soon as the process is complete.

A little precaution can save lot of hassle at a later stage. Be careful while purchasing the credit card.

Credit card is a product of great convenience and fun but should be handled with maturity and care.

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Having three to four cards at a time in your wallet is a common thing and no big deal. In fact, economists have quoted this culture of keeping so many cards in America as, “America’s love affair with credit card”. People in developed countries just can not think of a life without credit cards, they have become a part of our life and living.

It is not a problem purchasing five or ten cards but the problem begins when you mix up their statements and bills. And then because of this confusion, you might miss out payment of a due credit card thus unnecessarily paying extra money as late or penalty fee. This then pinches your pocket a little too hard.

This also leads to unnecessary waste of time and energy. This does not mean that you should not have multiple credit cards; all I emphasize upon is the process of streamlining these credit cards. By doing so, you can manage each of them properly and not waste your important time brooding over financial settlements.

There are few tips to manage multiple credit cards –

·        Make an excel sheet in your laptop regarding info of all the credit cards. This will also help you to cross check, if any, discrepancies in the statement bill that you will receive every month end. Also make a column mentioning the expiry date of each credit card. Set a reminder to that date of expiry, so that even if you miss it, you can be reminded. Also set reminders to the pay dates so that you don’t miss any important date.

·        Pay your credit card bills online. That is much easier and less time consuming than the traditional mode of payment. Just ensure that while you pay online the website is protected. Remember to log out as soon as the process is complete. Avoid financial transaction of such type from public access computers.

·         If you have different due dates of payment for all five to ten credit cards, then chances are that half the month will be spent in paying the bills. So it is best to reorganize all the due dates and fix it say between 7^th and 10^th of each month. In this way you will never miss any date. You will automatically get in to the habit of paying up the due payments around this time. Basically it is best to adjust credit card payment timing with receiving of salary.

Automatic payment mode is also not bad if you are confident of that credit card company and already have a long and good working relationship with them. The credit card dues will automatically get deducted from your salary account. Though always keep the option of intimating or getting your approval before the final deduction. Through this mode of payment, you will save your time and energy, all you will be required to do will be to see the credit card statement and give your approval.

Book marking the credit card company’s website for instant referral and also setting up automatic reminders is very helpful. A word of caution here is do not keep logged in to these financial website, log in when you require and log out immediately after you are done with. These credit card website also have option for automatic reminders, choose them. They will send you mail or SMS, once you due date for payment approaches.

By using these simple but logical procedures you can cut down on your financial confusions and debacles related to it. Enjoy juggling multiple credit cards with ease!

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Credit cards have come a long way from one card for all users to custom made credit cards. Earlier there was only one scheme and utility of credit card. But now we have credit cards in market that cater to the needs of every section, every group of people, as if the credit card is tailor made to suit your particular interest. These days you have credit card for

·        Credit card fro those with good credit history

·        Credit card for those who have bad or no credit history

·        Credit card for people who spend more

·        Credit card for people who spend less

·        Credit for women

·        Credit card for students

So you have credit card to suit almost every ones’ needs.

If you are the one with good credit history and are a regular user of credit card, then there is no dearth of lucrative schemes and offers on credit card. You can avail cash back benefit, airline redemption, shopping discounts and much more. As in financial terms, you have credit cards that offer very low interest rates and even 0% introductory rates. So much to choose from that you might just end up buying more than one card. You are also given additional benefit of having a personal credit accountant to help you in the processing of transaction. He can also suggest you on how to in-cash upcoming deals, bonuses and offers.

Credit card for women has everything to make them happy. These credit cards especially designed to coax and cajole the fairer sex is full of shopping discount offers, discounts on beauty treatments, discounts at café, hotel or restaurant. They also have cash back that can be up to 5% of total purchase and that is quite a saving. These credit card also offer vouchers and gift certificates for places of interest to women folk like spa or a new garment shop.

Credit card for college student requires no credit history, for you don’t expect them to have one. Instead credit card for college students comes up with building credit history offer, where in if you manage your credit properly and also pay back in time, you are awarded bonus points that can be in the form of a ticket to a popular MTV show. More over introductory prices are 0%, so you need not think much to buy a credit card.

People with poor or bad credit history need to feel left out; they can opt for secured or unsecured credit card. Also reputed credit card company also helps you to re build your credit history.

So you need not worry, what ever your situation is, what ever your demand is, what ever you requirement is- credit card company sure have an answer to it. Credit Card Company will surely offer you some thing to suit your own bill.

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There is so much competition in the credit card market. Every day companies are coming up with new and innovative ideas to lure in more credit card user. Also the credit card users are not using only one credit card; they usually have two or more credit cards of different companies. So then for a credit card issuing company it is not only about selling a credit card, it is also about maintaining it. And to ensure that the consumer uses credit card of their company only, these companies go through cutting edge competition.

In such a scenario, customer is the king. He has endless choices and options but one needs to spot out the best credit card in between all this junk and confusion. Many credit card companies confuse the customer with their offers and as a end result, consumer has to pay more than he thought he would do.

There are certain highlight features that differentiate between a good credit card and a bad credit card.

In a good credit card, APR will not only be less but also the calculation process will be easier. Some credit card companies try to fool the users by promising them lower APR and then later calculate it in such a manner that the rates are exorbitant. APR is calculated in certain parameters and if these parameters are not clearly explained to the user he will naively be trapped in to paying more. So clarification on APR rates and the process of calculation is important.

Every credit card comes with a bandwagon of offers and benefits. But what you as a user of credit card should understand is the utility of these offers.  This is what differentiates a good credit card from a bad deal one. For example one credit card, say A gives you free air ticket on completion of 100 points while other credit card, say B gives you the same offer at 75 points, you will naturally be tempted to buy the second one. But, wait, also check that how much point they are giving on each air mile, may be credit card A gives 1 point over each air mile while credit card B gives 1 point at 10 air mile…..so in this way you will earn rewards faster in A and not on scheme B.

Thus you need to check on the peculiarities of these aspects also if you want to strike a good deal.

Check out the balance transfer rates also. This will help you to transfer credit pay back from high interest rate card to low interest rate card. A highlight feature of good credit card is that it comes with a systematic support center. A support center that is approachable and helping goes a long way in consolidating the relationship between the user and the credit card company.

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There are certain parameters that will help you choose the correct credit card. As a student credit card applier you should be first ready with few documents that will come in handy while applying. These are the basic document that is required by the credit card company as a proof of your identity. These documents are –

·        Date of birth documents- this is required to verify the age of the applicant

·        Address proof – this can be any of the bills like electricity or gas bill that has address written on it. This will be required as a mailing address also.

·        Social security number

·        Driving license number

These are some of the basic documents required.

Now comes the important question that if you are a student on a look out for just the perfect credit card then what points to consider. Every credit card comes with a set of features, they have their own pros and cons. As a student you have to analyze your spending and then decide accordingly. Two things that you need to do before setting on to credit card hunting are-

·        Analyze your spending habits – it is important to sit for a while and write down your main expenditure, especially those that you generally require to do via credit card. Depending on the factors of spending as – what are you spending on, how much are you spending, you can decide the credit card that fits the bill perfectly.

·        Gather information – gathering information about what credit card is all about, what are the plans, what are the offers, how are calculations done, what are the extra costs or hidden costs involved- will help you greatly in making the right decision.

What should you look for while deciding on a credit card to buy? There are various parameters for this purpose-

·        APR is a very important parameter. Usually the student credit cards are little relaxed on this issue. But this relaxation is only for a short duration, some where around 6 to 8 months. Basically introductory offer of 0% APR is given to almost all student credit cards. But what you should be interested in is not the introductory offer, for remember it is an advertising gimmick. Check out the Annual percentage rate that they will be charging. Depending on this you can make your decision. It is best to go with the lowest possible APR as a student. For you might not be in a situation for taking bigger credit. More over as a student you might also delay your pay backs; lower APR comes in as a saving grace that time.

·        Look out for other introductory offers, apart from APR. go for a credit card company that offers more than this basic and regular offer. See the other rates like balance transfer rate is also less. This is helpful you to easily transfer balance from one card to other.

·        Look out for additional benefits and reward points. Some credit card companies offer earn thank you scheme. Cash back offers are also good. Frequent fliers scheme might not be useful to you. Go for schemes that seem possible and not those high sounding ones that will be difficult to even achieve.

·        A penalty fee is an important parameter. Students are usually on the defaulter’s list of the credit card companies. So it is best to go for a credit card that charges the least for late payments.

These are the basic parameters to check for while purchasing a credit card.

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Modern day’s fast life requires that you must necessarily own a credit card. Credit card helps you to do hassle free transactions. These financial transactions are faster and to much extent systematic, unless you find your self trapped in to a fraud. There are various types of credit card. A normal credit card helps you through financial transactions where in you can purchase items or pay off bills for a specific limit and this limit is known as credit limit. This limit depends on the scheme under which you have taken that credit card.

Credit cards that serve specific requirements are also available in the market to make transactions simpler. Entertainment credit card, gas credit car, car credit card are some of the examples. Here we will see how to apply for a normal, all in one credit card, that is a must to be in your wallet in today’s fact paced life.

The various ways in which you can apply for credit card are as follows-

·        You can apply for credit card on hand written application. For this purpose, you have to approach a credit card issuing bank or contact an agent to do the needful for you.

·        You can also apply for credit card through phone. Giving your basic details and asking them to correspond with you on further developments.

·        The fastest and the easiest way to apply for credit card is; through internet. Online application of credit card is comparatively faster

To ease out the process of applying for credit card, here are a few steps that will guide you through. These steps along with a checklist will give a fair idea on what aspects you should be prepared and what to expect.

First of all gather as much as information possible on various aspects of credit card, the plans, the rates and other benefits, if any. This research can be easily done by spending hardly an hour on internet. Type the keywords in Google and you will see a whole lot of write ups covering all the pro and con of credit card.

Once you have targeted the company that you want to go for, its time to fill the application form. If you opt for filling out the forms in person, then make sure that you get the original forms from the card issuing company. Do not fill out any photocopied application form, which can be fake and might use the information provided by you in a wrong manner.

If applying by phone, all you need to do is to search for the credit card issuing company’s toll free number. Almost all the credit card companies have toll free number but only few have 24 hr free toll number, so try and call during office hours. There after just follow the instructions and submit the details and requirements.

Applying online is the most preferred mode for it is fast and comfortable. While doing so just ensure properly that the credit card issuing company’s website is genuine and it is secure for you will be giving your personal information also.

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Today every one needs a credit card, then why would student community be left behind. Though student community might not be financially secure but they are looped in by the credit card companies on a futuristic strategy. This student community is the future potential buyers, so if the credit card issuing companies develop a relation with them at this stage then can benefit even more at a latter stage.

Students usually have minimal or negligible credit history. So credit card issuing companies lure students by giving them credit card that requires no credit history. This measure basically creates a relation with this group of prospective buyers. With such a facility in credit cards the benefits develop slowly for both the parties.

Credit card specifically designed for students usually do not charge any annual or balance transfer fees. This feature greatly encourages the students to buy credit card. Added to this, another feature that is very helpful and is especially designed to suit the requirement of the students is $0 fraud liability in case the credit card is lost or stolen. Keeping in mind this age group and their living styles, $0 fraud liability is a big relief to young credit card owners.

As an introductory offer, they are given 0% APR, may for one year and there after some percentage is fixed, that varies with different companies. More over keeping in mind financial immaturity of student credit card users they are also provided with a manageable credit line that helps to guide and control their account. Provision of online account services makes it even more convenient for students to update and handle their accounts.

If you are thinking about rewards and benefits that come along with student credit card, then you have to opt for platinum or gold student credit card. Here all the facilities are almost same, though APR that was given introductory at 0% is for a lesser time period, maximum up to 6 months only. Apart from this rest all facilities like, account management, online account service, no annual fee and no balance transfer fee remain the same. Along with it you get a chance to start building your own credit history and also earn reward in the form of cash back. In student credit card, cash back offer is usually as less as 1or 2% of the total purchase.

As a student if you want to shop for credit card, then you must take in to consideration your basic requirement. Credit card companies have come up with a very innovative idea to encourage young students to create a good credit history. This is called “Earn Thank you points”. You can earn points if you pay back on time, while you spend dollar in book stores, restaurants, movie halls and on top of it for maintaining good marks in academic exams. These thank you points can be then redeemed as passes to popular MTV events or as gift cards.

So the credit card in your pocket is not a simple card to shop but it is so much fun.

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Women, of  course, have become frequent credit card users. Some studies on credit card users have even quoted that, “women have become addicted to credit card shopping”. And why will they not be credit cards are full of discount offers and shopping schemes, that one will just fall for it. Some credit card companies are going to the extent of luring women users by giving them discounted spa treatments. These credit card companies are pampering premium women credit card users with dinners at stylish restaurants, passes for programs and offers on woman’s day or mother’s day.

Women find it easier to shop with credit cards (especially if the credit card is on their husband’s name!!!!). the reason for increasing women clientèle of credit cards is primarily because of two reasons – one , women do not need to carry cash and run the risk of theft and secondly they can do more shopping with credit cards. And added benefits of cash back and discount offers make credit card even more lucrative.

Women are a little easier on financial issue as compared to men, so hey become the prime target of these credit card issuing companies. Some credit card company have epitomized that smart women use smart credit cards, quite an effective marketing gimmick. The steady rise of woman credit card users is proof enough that these credit card companies have touched upon the heart and mind of women. Every day, we have one or the other emotional advertisement showing how women are the decision makers of the house and how skillfully they manage the family finances with the help of credit card of a particular brand.

This is true that women are the main decision makers of the family. All purchase from nail to plane needs their consent. Today’s woman is a smart lady who perfectly balances her house and profession and this woman equipped with the financial freedom and flexibility provided by credit card manages her duties perfectly well. Women go out to shop products to meet all and every small need of the family and this credit card gives him the much required flexibility. It is also convenient to pay back at the end of month.

Seeing the financial potential in woman, credit card companies are targeting them. Women love to spend for themselves and their family and it is this aspect that the credit card companies are targeting at.

Some banks and credit issuing companies have come up with special woman or lady cards suited to meet the needs of women alone. It was the United Overseas Bank that was the first to introduce credit card only for women. Credit card today has become a symbol of power for the women.

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Credit card is like a trap. If you are a good credit card user then you have a good credit history and maintaining a good credit history always helps in the long run. More over if you have the reputation of being a good credit card user, you might avail promotional reward cards, offers etc. credit card issuing companies love to pamper those clients who are good creditors, so as to maintain a long lasting relation with them.

How to become a good credit card user and maintain a good credit history?

First of all you should try and not use credit cards for taking loans. Taking loans suing credit cards can lead to major financial debacle. You take huge amount of loan and in case you are unable to pay back within a month, you have to pay hefty charges as interest rates. Calculate and take the amount of loan that you can easily pay back in a month’s time. Otherwise it will be called as misuse of credit card and this sort of misuse causes a big hole in the pocket. Secondly, if you are unable to pay in time you are on the credit card issuing company’s defaulter’s list. Thus to maintain a good credit history, you should always maintain a balance between what you are spending and your repaying capacity.

It is natural that some times there can be an emergency situation where in you will need to take credit more than the amount that you can pay back in a month’s time. In such a scenario, it is best to pay back the amount as quickly as possible. In fact repaying the credit amount taken through credit card should be your priority. This way you will have two advantages – one need not pay unnecessary interest and other charges and also get the badge of a good creditor.

Avoid a situation where in you have to pay late fees. Pay the credit bills regularly and duly at the end of every billing cycle. This is important because such fees accrue up to a huge amount that will make you sweat to pay back. So why allow such a situation to come. Plan your expenditure and revenue systematically. Make sure that you pay your credit bill timely.

Don’t fall in to the trap of spending more via your credit card just to be eligible for some contest or free offer. It should come as a part of spending and should not decide your spending options. Beware of such marketing strategies and avoid being fooled by the credit card companies.

Follow these guidelines and live a debt free and care free life.

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You are a good user of credit card. You have complied with all the precautions every time but still there is no fool proof security system and you fall prey to fraud relating to your credit card. Once you suspect that a fraud is committed to your credit card, what should you do?

Now this is a crucial time and your actions should be correct otherwise you might find you’re self in to a bigger trouble. All purchaser of credit cards, be it student, women or the very regular ones, should have good information on what to do in case of fraud with your credit card, to protect you’re self.

There can be three types of problems one might face regarding credit cards. They are –

·        Situation 1 can be if some fraud is done to your credit card. you suspect that there is some misuse with your credit card.

·        Situation 2- your credit card is stolen.

·        Situation 3- you have lost your credit card

These three situations are the problem situation. What should be ideally done in such a situation is enumerated below –

·        First of all, do not panic. Once you realize that any one of the following above mentioned things have occurred to your credit card, take a deep breath and then move on to the following steps.

·        Credit card companies are equally interested and eager to stop any such frauds and misuse in case of credit card being stolen or lost. They have 24 hours toll free number to aid you in such an emergency situation. In case they do not have this facility, check their website or the introductory pack that they might have sent to you. It will surely have contact number of some official, who can be communicated about such an emergency. Reporting about the theft, loss or fraud of credit card at the earliest is very important.  To avoid panic in such a situation, one must always keep emergency phone numbers properly noted in diary, the moment any purchase of credit card is done.

·        Federal law is very strict in this matter and also supportive of the credit card holders. According to them, once you have reported the fraud, theft or loss of credit card to the concerned credit card issuing company/bank, from that moment onwards you are not responsible regarding any financial transaction. It is then at the onus of the credit card issuing company to follow up the issue and seal all transaction immediately.

So it is not much pf a panic situation when it comes to credit card fraud. All you have to do from your part is to report. Rest is the duty of the credit card issuing company. Once reported about the fraud, your responsibility is over and you are safe. Remember to report immediately, without any delay.

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