Best Credit Cards for You!

(Photo courtesy of sebastien.b via Flickr)

But that’s not to say that St. Patrick’s Day isn’t mighty. March 17th is about celebrating a nation’s heritage as much as it is to indulge in a pint or two (or three). St. Patty’s is often overlooked in favor of such blockbuster boozing holidays as New Year’s Eve and the 4th of July. But does it deserve to be stuck in the minor leagues of spending?

Let’s look to this year’s projected St. Pat’s credit card bills to find out.

Total predicted participants: 122 million, or 52.4% of Americans

Total predicted spending: $4.14 billion

Predicted credit card bill per person: $32.79

(Graph courtesy of NRF.com)

This year, the holiday dedicated to green can anticipate even more green – dollars that is.

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Tags: Day, Patrick???s Day

Most common credit cards are known as unsecured credit cards, meaning they don’t require a deposit to fund the card. Secured credit cards, on the other hand, are typically funded with a security deposit that is refillable by the cardholder. Much like a gift card or debit card, the consumer can only spend what they have. Unsecured credit cards usually offer lower interest rates as well as credit checks and credit approval, as well as a set credit limit.

Here are a few other important points to understand about unsecured credit cards

• Consumers with decent credit or good credit typically benefit most from the unsecured cards due to the lower interest rates.

• Consumers with poor credit may still be able to get approved for an unsecured card, but it may offer a very small line of credit.

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Tags: Cards, Credit Cards, Unsecured Credit, Unsecured Credit Cards

Savings Accounts and Money Market Rates provided by 28 February 2011 According to a survey from the Consumer Federation of America and VantageScore Solutions, the majority of Americans dont understand how their credit scores are determined and when and how theyre used.

Of those surveyed, more than 67 percent incorrectly said that a persons age is considered when determining a credit score. Moreover, a “majority” of those polled were unaware that a cellphone provider or landlord could consider an applicants credit score in deciding whether to offer housing or service – and at what price.

The survey underscores the importance of credit scores and the scores of Americans whose credit scores were negatively impacted during the recession. Full Post…

Tags: Americans, Americans Don???t

The usual look of joy upon receiving your first credit card.

So you’ve finally decided to join the real world and open up your first credit card.

Congratulations!

No, seriously, you’re making an excellent decision.  While you may be disappointed that the simplicity of life without any bills is over, you’ll be patting yourself on the back in a few years when you realize the good credit score you’ve built up has given you greater financial flexibility to make major life purchases.

That is, if you use your credit wisely.  Credit cards can be a responsible user’s best friend, but a living nightmare for those who are careless with their spending habits.

So how can you make sure your credit card is a positive force in your life?  Here are seven great tips on getting your first credit card and starting your credit off right.

7 Credit Card Tips for First Timers

1.

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Tags: Card, Credit Card, First Credit, First Credit Card

With more fees associated in moving a balance from one card to another, are these fees worth paying even to 0% balance transfer card?Most balance transfer offers charge a balance transfer fee ranging from 3-5% of the total balance transferred. But look for cards offering 0% for a minimum of 12 months and a balance transfer fee of 3%. This is the only way it will be affordable to you and a better option. Also, Moving $5,000 from a high interest credit card of +15% to a 0% APR transfer card with a 3% balance transfer fee will cost $150, you could save between $400-500 in interest charges on the balance, even with a transfer fee. But if you are going to pay the high interest card off in only a few months, don’t bother transferring. If you do decide to transfer, be sure to pay as much as you can on time every month.