Winning The Credit Game!
Everywhere we go, the word credit can be found, shining huge dollar signs in front of our very eyes. Everyday we receive solicitation and promotions offering us credit. Credit actually makes the financial world go round, yet just the mere mention of the word can make many people very nervous. So why does credit get such a bad reputation?
It's been my experience that credit falls into the same category as politics and religion. People have very strong opinions about Credit. It has been around since the beginning of mankind. People would borrow either goods or services, to be repaid at a later date with interest. There's nothing wrong with that. And like anything else, it can be used, or abused.
There are programs that allow you to borrow from your IRA, or you can borrow from the equity that had built up in your home. Credit card companies often offer promotions to borrow money at a lowered rate of interest for a predetermined period. It's all good news for the consumer. One of the simplest ways to borrow money to use a Credit Card. The choices available are plentiful, with a variety of interest charges, annual fees, loyalty programs, and reward systems.
Many companies offer 6 months no interest credit. This is often an excellent way of saving money as you are basically given an interest free loan for those months. It's even more valuable if you are able to transfer some of the card debt from a different company into the interest free loan. The best advice is to make sure you always have the money in the bank, or in a savings account, to pay off your card when you are taking advantage of the interest free promotion.
That way you benefit from earning interest on your savings at your bank, but as soon as the interest free credit period has ended, you can pay the entire bill off without being hit for high interest charges. If you intend to pay off you credit card bill at the end of every month, there are many benefit programs and reward packages available.
You can receive award points every time you make a purchase with that card. These points can be redeemed in cash or discounts, and can even be used for the purchase of airline miles, etc. Some companies offer a consumer guarantee protection on items purchased with the card, and many will extend the warranties on those items. Many offer discounts such as car rentals, travel insurance, accidental damage insurance for any products you buy.
Also some companies charge an annual fee for using their card (especially business credit card accounts), so these should be considered against the cards benefits. If you are not paying off your monthly credit card bills, look for a card that offers a low interest. If you are paying off your monthly credit card bills, look for additional card benefits. Interest free credit periods are good news for saving money. Credit Cards are an effective, and easy way to borrow money for a short time. Be wise and prudent when deciding to use credit. The bottom line is the credit card companies want your business, and there is a credit card out there that can meet everyone's needs.
The author has been on both sides of the "credit" table. Through her experience she has been able to teach thousands of people about how to use credit responsibly.
Cecily Backstrom is passionate about credit and is the webmaster of Rapidly Moving Credit
MORE RESOURCES:
 Voice of America | Fallout From TJX Credit Card ... InternetNews.com - By Andy Patrizio: More stories by this author: The indictment of 11 criminals involved in the TJX credit card theft incident shows that cybercrime is indeed ... Video: Feds Charge 11 in Massive Retail Hacking Case 11 charged over US credit card theft Biggest Ever Credit Card Scam In US |
 Sabah | US Consumer Credit Increases $14.3 Billion in June (Update2) Bloomberg - Consumer credit rose by $14.3 billion, the most since November, to $2.59 trillion, the Federal Reserve said today in Washington. In May, credit rose by $8.1 ... Consumer credit rose $14.33 bln in June US consumer credit rose at double the pace forecast in June Consumers release their credit cards from musty wallets |
Credit Crunch Videos Sky News, UK - Equity, bond, and money markets were reluctant to accept that this was going to be a global banking problem, leading to a massive credit crisis. ... Credit crunch and banks: from the Rock to a hard place The credit crunch The year of living dangerously Many happy returns, credit crunch |
 Washington Post | Here comes the credit crackdown Independent, UK - One year into the credit crisis, regulators are hard at work on new laws they hope will prevent history repeating itself. Leading investment banks fear a ... Industry group to address credit risk Panel Calls for New Risk Standards UPDATE 2-US bank group says new products helped fuel crisis |
The End of Credit Card Consumerism U.S. News & World Report, DC - For more than four decades, our shopaholic nation has shown an insatiable desire to spend until our credit cards melt. And throughout this era, ... |
 StarPhoenix | Credit Suisse auction-rate debt suit may start frenzy Reuters - ST Micro alleges in the August 6 complaint filed in federal court in Brooklyn, New York, that by late 2006 Credit Suisse knew that collateralized debt ... Fannie Mae expects smaller credit losses in 2009 Credit crunch cripples European insurers' profits UPDATE 1-CS reinitiates IT hardware sector with "market weight" |
 ITV.com | Barclays' Profits Hit by Credit Crunch BusinessWeek - by Kerry Capell The credit crunch continues to take its toll on British banks. On Aug. 7, Barclays (BCS) revealed its first-half pretax profits fell by ... Barclays: credit and credibility Barclays hit by £2bn profits slump as credit crunch takes hold Income at Barclays declines less than analysts expected |
 CNET News | Credit cards: US authorities charge 11 in global identity theft racket guardian.co.uk, UK - American authorities have uncovered a global computer hacking and credit card fraud ring spanning the US, eastern Europe and Asia, officials said. ... Gang charged for theft of 41 million credit card numbers 11 charged in connection with credit card fraud Retail Hacking Ring Charged for Stealing and Distributing Credit ... |
STMicro sues Credit Suisse over auction-rate debt Reuters - SAN FRANCISCO (Reuters) - Credit Suisse has been sued by STMicroelectronics NV for allegedly placing $450 million of the chipmaker's cash into auction-rate ... Credit Suisse sued by semiconductor firm Credit Suisse sued over 'auction' debt Credit Suisse Sued Over Auction-Rate Securities (Update2) |
Settling the credit score CNNMoney.com - Having a good credit rating is more important now than ever, but determining exactly what yours is gets complicated. By Jessica Dickler, CNNMoney.com staff ... The FICO Score- Unregulated Discrimination? Back-to-school shopping tips |
Credit Suicide
Few things influence the home buying process more than your credit. I like how Clark Howard refers to the three credit repositories as, "the three screw-ups".
Can Credit Search Entries Affect Your Ability to get Approved for a New Loan in the UK?
About Search Entries:Every time a lender checks your credit history from your credit file (i.e.
5 Steps You Can Take to Get Paid!
There are always some companies that have past due invoices and can't seem to get them paid. They might be quietly waiting to get paid not wanting to contact the client for fear of appearing "desperate".
Understanding Credit Card Penalties
Because most of us have one or two credit cards and we use them every day, understanding credit card penalties and fees is a significant issue since one time or another we have paid a penalty for some reason. Every user of a credit card must first understand that every charge on the credit card represent a loan which must be repaid.
Beat Credit Card Companies at Their Own Game!
Have you ever wondered how much money a credit card company makes? Have you ever wondered how much of that comes from late fees? Everyone has and if you haven't you should because most likely you own a credit card, which means that these late fees has or could directly affect you.As you have probably taken notice, credit card late fees are on the rise and have been so for awhile.
Reward Credit Cards: Get the Best Rewards Card Incentive Program
A good credit reward card can contribute to your retirement account, offer gas rebates, score theme-park or vacation tickets or take thousands off the price of your next auto purchase. Rewards at hotels, airlines, and retailers bring more to the possibilities but, adds to the confusion.
Trying to Land a Job? Poor Credit Scores May Hurt Your Chances
Many employers are now looking at an applicant's credit report for hiring purposes. During an interview process a potential employer may request your written consent to access your credit report.
Credit Cards for Home Business
It is wise for you to have a company credit card like a VISA card. How can you find the least expensive bank card for your business? You may decide to use a VISA card from your local bank.
Do You Know Whats On Your Credit Report ?
It is important to know your credit rating for a number of reasons. Believe it or not there may be errors in your credit report, and it is essential that you repair them immediately.
How did a Thief get my Name? Don't be a Victim of Identity Theft
How do these people get my name? If you have a credit card, your name is sold to third parties, if you do not want this to happen, you must contact your credit card companies to inform them that you do not want your information sold. Check the privacy notice that comes with your bill.
Winning The Credit Game!
Everywhere we go, the word credit can be found, shining huge dollar signs in front of our very eyes. Everyday we receive solicitation and promotions offering us credit.
Credit Report Disaster Through Mistaken Identity
I've got some very important info I want you to think very seriously about. I'm sure by now you've heard of Identity Theft,.
Free Credit Report - Really
2005 marks the year that consumers will be able to get a free credit report each year. The roll out of the Fair and Accurate Credit Transaction Act signed into law by President Bush actually began last December 1.
How Creditors Measure Your Credit Rating
Creditors will measure your credit rating based on the following three main things.CapacityCollateralCharacterThe three "C's" show creditors your:"Capacity" or income to pay the debt"Collateral" or assets to secure the obligation"Character" shows your compliance to repay the debt1.
Bankruptcy vs. Credit Counseling: What Should I Do?
Credit Counseling and bankruptcy are both ways to relieve the stress of debt. However, they are very different and it is important to understand both before making a decision as to which is best for you.
Your Guide On Choosing a Credit Card To Suit You
Reach into your wallet or purse, pull out a card, swipe, and you're done. It is very easy to use a credit card.
5 Ways To Prevent Credit Card Late Fees
Paying a credit card late fee is the same as throwing your money away. Late credit card payments can also hurt your credit score.
10 Signs You May Need Credit Counseling
Debt management programs can be of real help for people that discover they cannot face their debts. At first, they will attempt to solve the situation all by themselves by cutting down on spending and keeping a close eye on accounts.
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.
Credit Cards -- What You Should Know
There are a lot of questions about using credit cards. Here's some important points for you:A quick look around on the Internet this morning shows that more than 9 million people in the UK do not pay off their credit card balances each month.