Often overlooked, credit insurance is something that should be seriously considered
When most people think of insurance, they think of health and life insurance coverage. But a growing number of consumers are turning to credit protection insurance. Commonly called payment protection, credit protection insurance is growing in popularity because of its affordability and flexibility.
What exactly is credit protection insurance? Credit protection coverage generally makes the minimum payments - typically 2- to 3-percent of the balance - on your personal loans, lines of credit and credit cards, in the case of unemployment or disability. And in the case of death, your account may be paid off in full.
Not all cards are created equal: How to determine which rewards card is best suited for you
Many credit cards offer rewards, points and mileage programs, but not all cards are created equal. That's why it's important to closely evaluate credit card features to determine which card will meet your needs.
The type of rewards card you choose will depend on your spending habits, lifestyle and needs, says Daniel Drummond, a spokesperson for Your Credit Card Companies, a Washington, D.C.-based consumer education group. There are many programs available and consumers should closely compare them to find the best match for them. "The credit card is just another product, and people should shop around to find the best card for their needs," he says.
The cost of doing business can actually help your bottom line
You've probably heard the old joke that a weekly budget is just something to help you explain why the money ran out about Tuesday. To small business owners, keeping a lid on costs is no joke. Consequently, small business owners are ever vigilant about cutting corners to make ends meet.
With zero percent credit cards, the savings can really add up
In their relentless pursuit of new customers, credit card companies are offering zero percent interest rates on transferred credit card balances. For the disciplined consumer, this can result in a no-cost loan and a money-saving way to pay off debt. However, zero percent interest rates can also be a costly venture if you stumble into the program's penalties. By being mindful of the rules of the program, a savvy consumer can take advantage of this aggressive marketing tactic.
What should you know when traveling with a credit card abroad?
People frequently traveling abroad are concerned with the following issues:
My card charges me a foreign exchange fee. Can I get one without? What options do I have for avoiding exchange fees?
Discover Card does not charge any foreign exchange fees, making the card an attractive choice for use in the handful of foreign countries where Discover is widely accepted. Unfortunately, it only works in Canada, the Caribbean, Latin America, and soon parts of China.
Credit card companies are increasingly dangling reward cards to lure new customers, offering cash back and points that can be exchanged for merchandise, airline miles and hotel stays. Though appealing, reward cards may not always be the best option.
A reward credit card is simply a regular card with extra frills to entice you to use it. When you use the card, you earn points with every purchase, depending on how much you charge. You can redeem these points for everything from airline rewards and cash rebates to movie tickets, TV′s and DVD′s.
Your credit card is a powerful tool for the management of your financial life.
Your credit card is a powerful tool for the management of your financial life. It can help you to extend the value of the products and services you need by obtaining them before paying for them. It can reduce the need for cash or check in places far from home, and allow you to conduct personal and professional business by phone, mail or Internet over long distances.
It's the truth. Everyone loves a bargain. Likewise, nobody likes to find out they've paid too much. It's true when you're buying, and it's true when you're borrowing. Who doesn't want the best interest rate possible?
The problem is that if the interest rate on your credit card seems too high, it won't just lower on its own (unless, of course, you have a variable-rate card and rates in general are dropping). If you're paying too much in interest, you need to take action now.
Traveling overseas can be fun, exciting and expensive. But if you choose the right form of currency to take with you, you can receive the best bang for your travel budget.
There are three kind of currency most travelers carry abroad: traveler's checks, credit cards and ATM cards. Ideally, the option you choose should allow you to get the best exchange rates, save the most money, and offer as much convenience and safety as possible. However, each payment method offers a number of advantages and disadvantages you should carefully weigh before making your decision.
Buy now and pay later. It′s become the American way. There′s no doubt that a credit card can be a powerful and useful tool. However, as more and more Americans discover every year, too much of a good thing can lead to big trouble.
According to CardWeb.com, the average American family owes over $8,000 in credit card debt. Remember, this is an average. For every family that′s way below this average, there′s another family that′s way above the average. Where you fall in relation to this average can help you determine exactly how serious a problem your credit card debt really is.
