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Credit Card
If you've been looking for the best credit cards available through the Internet then your search has ended! We have listed all kinds of cards from the most well-respected and trustworthy financial institutions on the globe. Comparing the available credit cards has never been so easy, All the best credit card offers are here, whether it be low interest credit cards, reward credit cards with up to 5% cash back We have organized the cards according to type and company, so it's simple and easy for you to find the best cards for your needs.
Low Interest Credit Cards
If you've been thinking of applying for a low interest credit card, you have to realize that not everyone is easily approved. These offers are best for individuals with good to excellent credit. These credit cards do have introductory offers such as 0% balance transfer rates and also 0% purchase rates, however all have a long term low interest rate. There are other factors that are important when considering this type of credit card, most notably being if there is an annual fee applicable. The annual fee will increase your cost of borrowing, the rate with which this increases will depend on your actual credit card balance. This should be taken into account before applying for this type of credit card. However, other factors, including 0% balance transfers and 0% purchases, have a positive effect on your credit card APR and if used properly can help cut your borrowing rate, but only for the introductory period!Balance Transfer Credit Cards
Not only do all of these credit card offers have a 0% balance transfer rate they also offer some other valuable rewards or incentives. These may include an introductory 0% purchase rate offer, reward points or even the chance to earn cash back with every transaction that you make with the card. There are other factors that you should consider when applying for a balance transfer credit card. The main consideration, from a cash saving point of view, would be the annual fee involved with the credit card. This fee should be factored into your overall 'costing' of the borrowing, which will in fact make the balance transfer card more expensive than first implied.1. What is a Credit Card ?
A credit card often referred to as plastic money, is a card, which is handy to carry and use for shopping or buying goods and services. You use your card to BUY a pair of shoes. You now owe the credit card company the amount paid at shoe store which will be billed to you, at a regular time interval, usually 30 days. More detaisl available here.2. How is Credit Card different from a Debit card ?
A debit card is authorized only if their are sufficient funds in the account. While on credit card it depends on the cerdit line the issuing company has provided you. The basic difference is in debit card, you pay your own money and in acse of credit card, the issuing company pays for you to whom you have to pay later.3. How are my credit card finance charges calculated?
This is something you need to check out before you apply for a credit card. There are three basic ways finance charges are calculated, and they range from favoring you to favoring them. That's why you need to know what method they use. The first method is the Adjusted Balance method, where the balance on your previous statement is added to any charges. Then any payments you've made are subtracted, and the result is multiplied by the interest rate. This method is the most favorable for you.The second method works out fairly even. It's called the Average Daily Balance method, with charges and payments being added and subtracted as they occur. Then, at the end of the statement period, these charges are averaged, with that average being multiplied by the interest rate. The other method, which will cost you the most, is called the Previous Balance method. The balance on the previous statement is first multiplied by the interest rate, then your charges and payments are calculated. With this method, in effect, you're paying interest on the same amount twice.4. What are pre-approved credit cards?
This is another method credit card companies use to get your business. They get a list from a CRA (credit reporting agency), or employers or Luxury car woners, of people who have good credit records and favorable payment histories(Mobile Bills, Club Memberships etc). These people have a history of paying their debts, so they become prime targets for pre-approved credit card offers. In effect, that's exactly what the credit card company's done - they know you'll pay, so they've already approved your application. And to further entice you, they'll usually offer you a low interest credit card. But watch that interest rate - it could go back up within a short period of time!5. Do credit cards have hidden costs?
Generally, credit cards don't have hidden costs. What they do have is extra charges, such as application fees, annual fees or late fees. Although these fees aren't hidden, you need to read the entire "Terms & Conditions" that comes with your credit card - all the fine print - to be aware of these charges.6. Can I get a credit card if I'm under 18?
You can't legally have a credit card in your name if you're under 18, but there are other ways to get one. You can get a prepaid credit card, or a secured credit card. Or you can get a parent or legal guardian to get a credit card on their account, with your name on it. That's a great way to start building a good credit record. If you're a student, 18 or over, you can get a student credit card. That's also a good way to start working towards establishing a positive financial picture.Copyright 2009 © www.easyfinance.in All Rights Reserved