Credit Card Guide |
Credit Card Guide: How to Keep Those Rewards
All those miles, points and rebates that inspired you to spend hundreds and display responsible payment habits may wave you last goodbye. Now you have to get really creative about keeping and cashing in what's left from the previous year.
The latest currency devaluation cracked banks' credit card business more painfully than ever and they do not hesitate to pass the pain over to their customers. You can expect further reduction in the amount of rewards to be redeemed, toughening of requirements and even abolishment of some programs. If you can't bare the possibility of losing your money, make use of this credit card guide. We've looked into the major rewards programs changes to take place in 2009, so you can make your arrangements before you find yourself at a loose end.
So, if you have a frequent flyer card, you'll see the increase in the number of miles required for a free flight. New restrictions may apply which means fewer credit card applications available, limited choice of destinations, shorter expiration dates and the like. Keep in mind that airlines may go bankrupt any moment. If you store a substantial number of miles or points, say tens of thousands of them, hurry up to cash them in. Why wait for something bigger when you could have your share now? Even if it's not enough for a free airline ticket, it's better than nothing - you can add to the value with your pocket cash if you like and get that free air trip. Major card companies that have already introduced alterations in their rewards programs rules are American Express, Capital One and Citibank.
Owners of any rewards card will find it harder to earn rewards due to the slash in credit limits and increase in points and miles thresholds required for redemption.
Credit card limit cuts affect good and bad customers alike. So even if you have excellent score, you're not safe from seeing your available funds reduced by half, at best.
The purpose of our guide is to persuade you to start acting today. Don't wait for a notification letter or an insert into your statement. If you have at least half of the eligible amount, cash it in and add it to your own funds to buy a ticket.
As to the interest rates and fees. Chances are you'll see your 0% APR introductory period going down from 12 months to 6 months and higher fees imposed. For you it means you have to speed up your debt repayment and exclude any possibility of late payments.
If you plan to apply online for balance transfer now, beware that there is a 3% transfer fee and no fee cap on all cards. So estimate all the gain and risks before you consolidate the debt.
The forecast of a credit card being available only to the upper class has extraordinary tendency to become reality. If it is so, it'll take a long time to root itself. So, take this time to reap the benefits that legally belong to you under your card agreement.
joan covert
April 13, 2009, 2:55 pm
If you are attempting to get a credit card, but you are turned down, you are probably applying for the wrong card. What you need to do is to select a credit card deal that matches your credit rating. On our website, we offer a great variety of credit card applications for different credit ratings which range from excellent credit, to no credit history at all. You can compare, choose and apply online for the credit card that is best for you.
If your credit score ranges between good and excellent, consider applying for the Discover More® Card. This card has a no-annual-fee offer with a low APR on card purchases and a 0% introductory APR on both purchases and balance transfers.
If you’re in the process of building your credit and have a valid credit score in your name already, then consider the Capital One Platinum card. This low interest rate credit card has a moderate annual fee and a 0% introductory APR on purchases.
If you’re looking to repair bad credit, apply for the Secured Visa® Credit Card that provides valuable credit building services, as well as reasonable rates and moderate fees. Note that a secured card requires that you first establish a cash security deposit to qualify.
Study these cards’ terms, conditions and eligibility requirements to make sure that you chose the right card for your particular situation.
BadCreditOffers.com
- Low APR on Purchases.
- All Applications Welcome.
- Know your result within 60 seconds.
Gold Delta SkyMiles® Credit Card
- No annual fee for the first year, then $95.
- Earn up to 25,000 bonus miles - enough for a total of $250 off Delta flights.
- 25,000 miles may also be redeemed for a domestic economy award ticket.
Credit Cards eZine
For the past few years, college campuses have been a very promising market for banks and credit companies. There has been a lot of talk about the pros and cons of student credit card applications. While some people believe that student credit deals are nothing but a dangerous financial weapon, the others consider credit cards for students as the integral part of financial freedom. Anyway, credit deals for students were readily available in the recent years, but things have changed greatly. And now in tough economic times, youth folks may find it more difficult to get access to credit. So, the question becomes: how to apply for a student credit card in difficult economic times?
Click here to read more...All through our lives, we move from one stage to another, and just like that we move from no credit to excellent scores in hopes of getting low interest rates and deals with good terms. When beginners apply for their first credit card, they want to get access to credit and build a solid payment history that will let them borrow money on favorable terms. But even if your FICO is almost perfect, it doesn't mean that you can sit back and relax. Good credit requires much work to be done and if you have good scores, you should know how to manage your credit responsibly without getting far into debt. Read more tips on how to maintain your good credit rating.
Click here to read more...When choosing between numerous credit card applications, we want to get the most of our new card. Even though there’s no card that is right for everyone, many credit offers present some tempting features designed to entice you to submit your application online. Whether it’s a large amount of complimentary bonus rewards points or zero interest rates for a certain period of time, you may be enticed to apply for the product that doesn’t fit your individual needs. The question is, how to choose the card that is right for you? Read more about the terms and conditions you should look at when selecting the best credit card.
Click here to read more...
