Information Center – News and Articles about Credit Cards
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Learn How to Save Money with Credit Cards
Credit gives you numerous opportunities. And freedom. Freedom of choice and buying power. But this freedom is limited. When it is time to pay your bills, you feel handcuffed. It really feels great to hold a remote control from your brand-new flat-screen TV, but you get the emotion of the same power, but the opposite one when you hold the bill for that TV.
This is one of the laws of the credit industry. The greater your excitement at the beginning, the stronger you get upset on your credit card due date. And the looser your wallet becomes. But there should be some ways to balance the happiness from purchases and the bitter taste from the money loss.
So, here are a few tips on how to keep the buying power of your credit card and save some money.
1. Plan out your expenses budget beforehand. Of course, you cannot know how much exactly you will spend for food, gas, and other everyday purchases. But you, most probably, can tell for sure how many food processors or DVD players you are going to buy the following month. This will help you to get the picture of how much money you have left for your daily spending and bills.
2. Think of all forthcoming holidays, birthdays, weddings, and anniversaries, you want (or will have) to show up to. Just put down the approximate amount of money you are to spend on all those celebrations. You can whether try to make some savings in cash, or keep a separate credit card (a cash back credit card, for instance) for this kind of expenses.
3. Keep your eyes open for sales. This is really a great way to save money. Even your best low rate credit card will not outrival 50% off on shoes or home appliances, or any other items. But you neither should go too far with sales fever. Avoid making useless purchases, even if the item comes with 70% discount. Yes, if you get it, you will pay just 30% of its initial cost. But you still will have to spend this money. But if you take control over your spending habits, you are sure to save money.
4. If you are an inveterate clubber, you love going to movies, restaurants, or shopping is your hobby, it does not mean that you will have to give up your lifestyle and restrict yourself in everything if you want to save some money. You can keep on living your life. You just need to choose an appropriate credit card that will match your lifestyle and spending habits. One of the point rewards cards is a smart choice for you.
5. And remember about good old grandpa's method of making savings for a rainy day. Though, so to say, progressive people consider this way of saving money to be out-of-date, and there is a threat of some financial crisis, plus the dollar is falling down, having some cash for emergency cases is good. And if you are an ardent antagonist of saving money in cash, you can get a credit card for emergency cases.
So, the most important is you are to keep sober mind in the world of goods and services, and remember that you might need some extra money anytime. That is why savings or an emergency credit card is a good backup plan.
The XXI century is the century of high-speed and nanotechnologies. It seems people strive to speed up all processes to make this already hectic and sometimes chaotic rhythm of life even crazier. They are ready to shrink everything they can lay hands on to make nanotechnologies work. In fact people just want to make their life more convenient.
Contactless credit cards are another product designed to upgrade our life quality through saving customers' time during the checkout process. These new-age credit products are gaining more and more popularity with customers. The so-called wave card makes the checkout process easier and faster. The recent opinion poll proves that contactless plastics won many hearts. According to the survey's result, over 90% of wave cards owners find them to be very convenient and user-friendly. Plus such plastics are accepted nearly everywhere regular credit products are accepted.
The financial economy crisis in the US has been admitted the largest financial shock for America since Great Depression. US banks incur billion-dollar losses. The number of delinquencies keeps rising. Associated Press has announced the results of data processing on 17 trusts dealing with securitization of credit cards.
The results leave much to be desired, to put it mildly. The volume of credit card debt with a delay of 30 or more days has gone up by 26% as compared to October, 2007. Now it makes up $17 billion. It stands for over 4% of credit card debts. The information on card holders debts for Associated Press was provided by the leading US companies.
We are used to see credit cards the way they look today, and it is hard to imagine that they looked different and served for another purpose than paying for goods and services. We call them plastics. In fact, a century ago credit cards had a different shape, size and were not made of plastic.
The appearance of credit cards dates back to the beginning of the XX century. Who were they created for? The target audience was wealthy people. The cards could be used as business certificates and licenses for the so-called "loyalty programs" at some restaurants, gas stations and merchants. Those cards, you can be surprised, were made of cardboard.
Rapidly growing credit card crime rate causes more and more concern of credit consumers and credit providers as well. Credit card fraud is a number one card holders complaint to Federal Trade Commission. According to the statistics, over 85% of credit card owners that fell victims to credit scam discover the fraud only after they get turned down by credit issuers, having applied for a new credit card or loan.
Credit bureaus cannot stay indifferent to the problem of credit fraud and identity theft, in particular. Equifax, one of the three US major credit bureaus has introduced a new ID theft protection service. "ID Patrol" is a multifunctional tool that allows protecting customers from identity theft.
