Credit Card Tips

Credit Card Tips
Tip #1
Pay For Online Purchases
With Your Credit or Check Card

Using your Visa card online is easy. And you’re protected in
exactly the same way you are when you use your card at the store,
order from a catalog by mail, or call in an order over the phone. And
in case of a problem, you always have safeguards from Visa against
unauthorized card use, theft, or loss.

Tip #2
Keep a Record of Your

Just as you save your receipts when
shopping at the mall, you’ll want to keep a record of your Internet
purchases. Back up your transactions by saving and/or printing the
online confirmation of your order. These records are just like the
receipts you keep when shopping in the physical world.

Tip #3
Secured Credit Cards

If you have no credit or a negative credit history, it can be
difficult to obtain an unsecured credit card. But, what you may not
know is that you may be able to qualify for a secured credit card,
which can offer many of the same benefits as an unsecured card. A
secured credit card is much like a secured loan. You are required to
deposit money into a savings account or a certificate of deposit as
collateral for a line of credit. The card has the same appearance as
an unsecured card and usually offers the same convenience and charging
privileges as a traditional unsecured credit card.

While almost anyone can
apply for a secured credit card, there are some limitations. Most
issuers do not accept applicants that have been convicted of credit
card fraud, have outstanding liens on their property, or are filing
for bankruptcy.

Finding the best card for
you requires research. You should determine what features are most
important to your financial situation and spending style, measuring
them against the costs associated with each offer. Factors such as
application fees, annual fees, finance charges, accrued interest on
the deposit, available line of credit and minimum savings deposit are
some of the most important considerations.

In most cases, an
application fee is required by the insurer, which adds to the cost of
obtaining a secured card. The fee is usually non-refundable, even if
you’re not accepted by the issuer.

Once you’re accepted for
the card, you are required to make a deposit into a savings account or
certificate of deposit as security. The average minimum deposit
required can run around $300. The amount of money you deposit should
depend on your income and the line of credit desired. However, some
insurers will offer credit the same or greater than the amount
deposited; some others may offer a credit limit lower than the amount

Most issuers will pay you
interest on your security deposit. The more money you wish to or are
required to deposit, the more important it is to have a card that
offers respectable interest payments.

Like most secured credit
cards, insurers of unsecured cards charge additional fees for use of
the card and services associated with the card, such as, cash
advances, late payment fees, and fees for charging over the limit or
non-sufficient funds. Carefully review all information provided by the
issuer to determine how and when such charges will be incurred.

If you wish to cancel your
secured card, do so in writing. Credit card issuers have different
policies concerning the amount of time before you receive your refund.
Also, keep in mind that if you have an outstanding balance, most card
issuers will use your security deposit to pay the remaining balance.

Tip #4
Student Credit Cards

Student credit cards can be used
anywhere in the world where it is accepted. When choosing a student
credit card make sure that you look at the Annual Interest Rate. Most
student credit cards have a very high APR. Average APR for student
card was 18.90% for the August month. This average was based on the 30
credit cards that our research team rated. Most Student Credit Card
Issuers will give student card to any student who applies.

A Few Tips That You Should Know:

  • If you have a student credit card,
    then you most likely are eligible for discounts
  • AT&T Universal Student Card has
    the following discounts
          – Airline Tickets with a 10%
          – Car Rentals
          – Credit Card can be used as
    Phone Card.
          – Discounts for hardware,
    software, CDs, books,
            phone services and more
          – Clubs, Restaurants, etc
  • Limit the number of
    credit cards you acquire to help limit your debt exposure and
    simplify your record

  • Stay within your
    credit limit to avoid penalties and reserve available credit for