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The balance transfer credit card is one of the starkest examples of how competition benefits the end consumer. Consumers with good credit and high credit card usage can use balance transfer credit card to save dollars from a few hundred to much more depending on their credit card usage and the amount of balance transfer.

In simple terms, if you have good credit, companies are looking to provide the offer, even if they do so at a lower rate of interest. You benefit from low interest and they acquire a valuable customer. So, a balance transfer credit card enables you to transfer your existing balance or even debt to a credit card with low or no interest.

Credit Card Balance Transfers Math

A look at the math of a credit card balance transfer will make the situation clearer. For instance, suppose you apply for balance transfer credit card from a reputed online vendor. Now, your interest on credit card debt runs up to, say $1450 dollars a year at an average with your credit card that has an APR of 10.99% assuming you have a good credit rating. Now the competing credit card company offers you a credit card with a 0% introductory APR for the first 12 months. By making a simple balance transfer to your new credit card, you save on one year’s credit card interest. Now that is math that one can live with!

Shopping Guide To Balance Transfer Credit Cards

Initially consider the size of the balance transfers to be made, and correspondingly the amount of financial gain that follows. The period of 0% APR is important, how much credit do you expect to use, and correspondingly how much interest will you save from credit card balance transfers during the offer.
Do the balance transfers incur a transaction fee and if so how much? Consider how long the introductory APR lasts and the APR after that in your calculations. And, as always, be sure to read the fine print. You don’t want to encounter unexpected costs. The best offer sometimes is not the one with the lowest rate of interest.

Balance Transfer Trivia

The best type of balance transfer credit cards are the ones with a 0% rate of interest. Many companies have begun offering such cards, at an incredible introductory period of up to one year. It is possible to transfer your debt to a credit card with a 0% APR, and then retransfer it to another one at the end of the introductory APR period on the existing card. However this is not a recommended action as it can result in a lower credit rating for you. Credit card balance transfers can be done online; most companies offer this system of balance transfer.

Credit Card Balance Transfers In A Nutshell

Substantial savings can result if you get you balance transfer credit card arithmetic right. Before applying for one look, be sure to look at the fine print. Good financial sense with credit card balance transfers can make for good finances. If you have spent substantially utilizing “plastic” money, a balance transfer credit card just might make good financial sense for you.

Who dislikes bonuses? People are often enticed by attractive bonus offers and credit card offers are no different. Shrewd credit card companies are using lucrative credit card rewards to lure new customers in and sustain existing customers. Reward credit cards offer several key features that attract more customers into the fold. As a potential customer your duty is to distinguish between those genuinely beneficial reward credit card offers and those less promising reward credit cards. Many credit card issuers do offer a variety of rewards programs, however, they also find an innumerable number of ways to make up for those reward payouts with fees and charges that unsuspecting customers sometimes overlook.

Reward Credit Cards

If you are in the habit of paying off your balance each month, a reward credit card is ideal for you. Reward credit cards offer myriad rewards for using their respective cards. You can very easily earn reward points for merely making purchases with your card as well as a host of incentives that are offered in the form of additional redeemable reward points.

As you might suspect, card issuers and banks offer starkly contrasting reward redemption options. Credit card issuers give you the option to redeem your points in a variety of ways. Some cards give you an option to use your reward points on other purchased items. Some reward cards offer redemption toward free travel on specific airlines, discounts on merchandise, gas rebates, free entertainment discounts, movie tickets, or even straight cash back rebates. You can even earn a substantial discount on your next automobile purchase from some reward credit cards.

Difference between Reward and Cash Back Credit Cards

Reward credit cards and cash back credit cards are very similar. However, they have several distinct features that differentiate one from the other. Quite simply, a cash back card earns you a cash back rebate that is issued in rebate check increments of $50 to $100 or as credits back to your unpaid card balances. A reward card earns you reward points that can be redeemed on a variety of products and services, however, most reward credit cards will limit the range of merchandise and services to a few select companies.

Increasing Your Reward Points

If you are married, you may request an additional reward card for your spouse this enables you to increase the amount of purchases from both you and your spouse. More than likely, you have monthly bills to cover such as gas, water, electricity, trash, phone internet and cable service. And do not forget about the mortgage or rent payment. There are several reward credit cards available currently that allow cardholders to pay these monthly bills and earn reward points in doing so, a very enticing reward program. Be sure to first with your utility service providers, landlord or mortgage lender about making your monthly payments by credit card. But you should make sure that there are no added transaction fees for paying the bills in this manner. You can also use your reward credit cards to pay for your groceries instead of paying by cash, debit card, or check. This way you can dramatically increase your reward points much faster than just using the card for large purchases.

With all of that said, keep in mind that you must be absolutely sure that you pay off your card balance each and every month and painstakingly avoid carrying any sort of card balance on reward credit cards. Carrying a balance, in many cases, will completely negate the benefit of the reward points that you earn with finance charges.

To summarize how to properly use a reward credit card, you should only use a reward credit card if you expect to pay off the balance each month. Second, be sure to select a card with a variety of reward options so you can enjoy more flexibility when you redeem your points. And lastly, always be sure to redeem your reward points before they expire, which happens to be another common pitfall of reward credit cards.

In times when credit card fraud, card cloning and skimming is on the raise, credit card companies are trying to keep one step ahead of the game. As shopping on the Internet is increasing rapidly it is vital that there are secure ways of purchasing on-line. One successful attempt to make transaction over the Internet more secure is the virtual credit card.

There are a few different ways of acquiring this facility. The best way is to speak to either your bank or your credit card company and see what options they have. Although there might be a few different choices around, the principle of these cards is the same. Rather than entering your standard credit card number, you will have access to a virtually generated number every time you want to make a purchase.

If you are using Internet banking, the best option for you is probably to speak to your bank about virtual credit cards. Many banks have this facility incorporated in their Internet bank. You will in a way use your standard credit card but rather than punching in that credit card number, you will be able to download a program that will allow you to generate credit card numbers every time you want to buy something on-line.

What happens is that this program will generate a new card based on your standard one. You will see this virtual card on the screen and it will have the same features as your normal card. There will be a credit card number, an expiry date and a CCV2 code. Before the card is generated you will be asked to enter an amount, this way the card will have a certain limit. If you are making a purchase of US 48, you might set the limit to US 50. That way you are sure that the card cannot be used again. These cards are in fact made for a single purchase.

An alternative option is to talk to your credit card company and sign up for this facility. The credit card company will then generate single transaction cards for you, which will have a credit limit and an expiry date, the same way a standard credit card has. The validity of these cards ranges from a few weeks to a few months depending on the credit card company. As these cards can only be used one time, the risk of someone else getting hold of your credit card number and using it is slim.

There is an additional option which is slightly different. With a secure card, you sign up to a web site and deposit funds into an account. When you are purchasing an item, the money will come from the account rather than a credit card. Pay-Pal is probably one of the most recognized web sites for handling transactions this way. You can then transfer your own funds into this account and there is no need for a credit card.

All of the above aim to make payments less likely to be used in a fraudulent way. If you are thinking of purchasing items on the Internet, you should look into these options and decide what would suit you. The important thing is that you protect yourself and your funds.

If you have ever been asked by your wife, husband, child or friend to have someone else as an authorised signatory to you, i.e. a supplemental signatory, on your credit card account you no doubt gave this some serious thought. If you agreed to the request, the following are some reason why you should have a credit card in your own name and they have a credit card in their own name.

Credit History

Possibly the main reason why you should have a credit card in your own name is the effect it has on your credit history.

In short, you have had to manage your financial affairs very astutely in order to gain a sufficient credit worthiness to apply for, and be approved, a credit card. Conversely, any supplemental signatory to you on your credit card doesn’t have to do anything – as the card is relying on your credit history to determine the risk of the third person. This may sound a little harsh, but if you think about it you are the one who is responsible for repaying the card, so why shouldn’t they rely on your ability to repay rather than some third person who has no obligation to repay them if there is an outstanding debt?

Now, you may well be thinking: “That’s not a problem, I’ll control their spending.” And, you may even be able to manage that feat. But, here’s another reason why you should have a credit card in your name and they should have a credit card in their name. Throughout the time that they are supplemental signatories to you on your credit card account, they are not enhancing their own credit worthiness – nor are they affecting their credit rating. So, even if they are good supplemental signatories and never spend money on your card without first seeking and getting your approval, it has no positive affect on their credit history. On the other hand, if they were to have a credit card in their own name, and were good and managed their account well, all of this would add lots of brownie points to their credit history!

Lose – Lose Situation

The reason why having a supplemental signatory on your credit card account is a lose-lose situation is not only because you take on the financial risk that they will behave themselves, but also they have no upside if they behave well. Also, keep in mind that if your supplemental cardholder runs amok and spends, spends, spends, it is your credit history that is being affected, not theirs!

What Does This Mean?

It means that you could work years building up the perfect credit history and rating only to have it all torn down overnight by someone else. So, if you don’t want that to happen, make sure have these good reasons why you should have a credit card in your own name only the next time someone asks you if they can become a supplemental signatory on your credit card account.

Simply put, a credit card rebate is a cash reward a credit card company gives you for using their card. In terms of how the card actually works, the company that issues the rebate credit card charges the vendor from whom you make the purchase. You make the purchase from that vendor because you are getting cash back through your rebate credit card. The credit card company shares its earnings from vendor tie-ups with you, and thus attracts more customers. So everyone benefits.

Types of Rebate Credit Cards

There are a number of different rebate credit cards that cater to different types of people. The credit card rebate that works for Jack may not work for Jill. Or in starker terms, one mans meat is another mans poison. Some rebate credit cards are tailored for businessmen. Some credit cards give very high rebates up to 5% through certain programs. If you find that you fit into that program, and the purchases you normally make are in line with those offered by that program, you stand to save a lot of money

Again if you are a doting mother who just can’t get enough toys for her kids, you can find a credit card that gives you rebates every time you do that. A certain rebate credit card would be perfect for someone who couriers frequently. Such a person should find a credit card that gives him rebates on payments to a courier company.

Some rebate credit cards can give you up to 10% in credit card rebates on certain purchases for a specified period. If you fit in there, you stand to save a bundle!

But how do you find the card that fits in with your needs? The Internet is a good place to start with some of the best rebate credit cards available with a few clicks of the mouse. A little homework can save you money where you never imagined it could.

Credit card rebates offer an advantage to frequent flier miles. You can use the rebates as you want. The rebate credit card can also be an important money management tool which will benefit you for years to come. To benefit the most, take your long term needs into account when choosing your rebate credit card. Be specific to your financial needs. If necessary you can even use two rebate credit cards to take advantage of two bundles of offerings.

Check the Details

Always remember to check for the APR offered by the credit card, as well as the annual fee. There are numerous offers available for rebate credit cards at 0% APR for 12 months and no annual fee for clients with very good credit. Also read the fine print, including the method of calculation. Some methods of calculation prove more expensive at the same interest rate. Remember, your rebate credit card is a tool to use your money wisely. By first choosing the correct tool and then using it well, you can save hundreds and sometimes thousands of dollars in credit card rebates.

Low interest credit cards can provide you with substantial savings when it comes to interest expenses. Of course, the best way to save on interest is to pay the balance of your credit card off at the end of each billing cycle. In this way, you get to borrow the money for a brief time without having to pay any interest. For many people, however, paying the credit card bill off at the end of each month isn’t always a realistic option. Therefore, low interest rate credit cards are the best alternative.

Finding Cheap Credit Cards

Fortunately, finding cheap credit cards is not all that difficult, particularly if you have a good credit history. All of the major credit card companies, including MasterCard, Visa, Discover, and American Express, offer low interest credit cards. Therefore, you can easily apply for one with your preferred company. Often, these companies will send mailings to your home or advertise their low interest rate credit cards on television.

While advertisements and mailings provide you with a great way to learn more about your available options, you should also research other low interest credit cards. After all, one way some of these companies manage to keep their interest rates low is by cutting out advertising expenses. Therefore, the best way to browse through available cheap credit cards is to visit a website offering side-by-side comparisons of credit cards. In this way, you can look at the introductory rates, long term rates, and additional benefits of the cheap credit cards you are considering.

The Introductory Offer

The introductory offer provides you with one great way to save on interest expenses. Many credit cards provide a special introductory offer in order to entice new customers to apply for their credit card. In fact, several of these introductory offers are 0.00% APRs and can last as long as one year. More commonly, however, these special rates last for 6 months, three months, or one month. Often, your credit history plays a role in determining how long your introductory offer is good for.

When taking advantage of an introductory offer, you need to be sure to find out what the APR will be after the introductory period is complete. It is not uncommon for the rate to be quite high afterward. Therefore, you will need to be sure to pay off the balance entirely when the introductory period is over in order to get the optimum savings on interest expenses. If this is not a possibility for you, then be sure to select low interest credit cards that remain low interest after the introductory period is over.

The Low Fixed Rate

Another option with cheap credit cards is a low fixed interest rate. These cards do not necessarily have a great introductory rate, but the rate remains continuously low when compared to other credit cards. This is often the best option if you know you will be maintaining a balance on your credit card for a long period of time. Although the low fixed rate may not be as enticing as a 0.00% introductory rate, it can still save you substantial amounts of money in the long run.

Here is an example:

If you carry a balance of just $1,000 on your credit card for one year with a 20% APR, you will end up spending $200 that year in interest. On the other hand, a low interest credit card with a fixed APR of 8% will only cost you $80 in interest that year – saving you $120.

Low interest rate credit cards with attractive introductory rates and low interest rate credit cards with low fixed rates can each save you money when it comes to interest expenses. Be sure to consider both options carefully and to analyze your spending habits and your income to determine the one that is best for you.

I’ll start by saying that I don’t fully agree with either of the poll options. I voted “unethical” because I certainly don’t believe that what Mackey did could be called “smart”. However, from what I’ve garnered, Mr. Mackey’s intentions are not *clearly* unethical: that is to ask, “were Mackey’s derisive posts written with the intent or belief that such posts would *actually* have any noticeable affect on prices of Wild Oats stock?” Personally, I don’t know.

Given Mr. Mackey’s position as a Cheif Executive Officer, however, it’s almost certain that he would be aware that attacking the competition *could* hurt their image, and lower prices. That Mr. Mackey later took an interest in purchasing Wild Oats certainly make his posts appear to be aimed at reducing the amount he’d have to pay to buy out Wild Oats, and, thus, unethical. However, Mr. Mackey later stated that he was “just having fun,” and it’s quite possible that he was doing just that: having fun under an assumed name, thinking that anonymity would both shield him from repercussions, and spare him the limelight that would automatically pre-dispose people to an opinion on his posting before they’d even read his posts. If we were to take Mr. Mackey at his word, then the intent that helps define “unethical” largely seems to disappear.

I think one of Mackey’s major missteps was allowing himself to be discovered for who he truly was. News reports indicate that at least two people who posted on the same forums as Mackey had him figured out before he admitted his identity in his “sign off” post. It’s possible that the current contreversy surrounding Mackey and Whole Foods was inevitable, once he was definitely identified. Publicity often drives public opinion, and the revelation that a CEO had been engaging in the kind of behaviour that John Mackey is being skewered for set up a nice piece of media bait; the rest is history. The public interest generated by media exposure could, conceivably, cost John Mackey his job, whether he merits termination or not.

In the end, while Mr. Mackey may or may not have been strictly unethical, he was certainly unwise.

Hunting for low APR credit cards has become easier with the advent of the Internet where you can draw an easy comparison (from the various options available to you at the click of a mouse) as to which low APR credit card will be the best for your needs. The article below provides the complete informational lowdown on low APR credit cards.

Low APR credit cards charge you an interest rate even lower than the standard APR. The lower the interest rate or APR, the cheaper the card is to carry and the more money you’ll save on it. So if you carry a large monthly card balance, a low APR credit card could be very beneficial for you and in some cases where low rate credit cards have offers, they can also help cardholders like you save significant dollars over time. What is an APR anyway? Well, let’s discuss…

Rationale of Low APR Credit Cards

The Annual Percentage Rate (APR) is the cost of credit; it is the amount of interest rate that is chargeable to any outstanding balance on a credit card. If you don’t make the full payment within the grace period certified by the credit cards company, the company has the right to charge you a fee for that service, an interest rate fee known as the APR. But for a credit card to be considered cheap for a consumer, it should have a low APR.

With a low APR credit card, comes an agenda in fine print. Lesser mortals like you and I fail to recognize the same and read it to our advantage. Here’s what the hidden agenda might state:

1) Annual Fee: Many a low APR credit card might offer you a low interest rate or APR but require you to pay a significant annual fee. If the effective interest rate (after counting the annual fee) is indeed higher than the actual rate, then this credit card is obviously only cloaked as a low APR credit card.

2) Low Introductory Rate: Credit card companies know that low introductory rates are a great promotional incentive. So when suddenly, the initial period expires, and your monthly minimum payments mount dramatically, you know something definitely smells fishy. Check it prior to applying before you fall prey to this credit card company trick.

3) High Balance Transfer Fees: Another trick in the trade is that some amongst the low APR credit card fraternity offer low balance transfer rates that come with significant fees. These balance transfer fees are always mentioned in the fine print or the terms and conditions but are rarely spoken loudly about in the promotional language of the card.

Moral of the Story: Read and re-read the fine print and all of the terms and conditions associated with any low APR credit card before you apply.

Follow these simple steps when shopping for low rate credit cards:
1) Call the institutions in which you already have bank account or credit card account. Discuss with them the possibility of converting your existing account to one with a lower APR than you currently have.
2) If your existing credit card company cannot indulge this special request of yours, seek a company that will.
3) Get in touch with the companies where you are interested in applying for low rate credit cards.
4) After selecting the best card, fill out the application and return as per the instructions via mail or online. Make a call to the credit card issuing company if you have not heard from them in the subsequent 10 to 15 business days.
5) You reserve the right to obtain an explanation if the credit card company has turned down your application. The denial letter must explain how you can obtain your credit report to investigate the application denial.

More Tips On Low Rate Credit Cards

One of the strategies that some people utilize to get the most out of their low rate credit cards is to keep rolling over credit card balances to different cards with 0% introductory APR offers until successfully paying down the card balance. But beware of this particular strategy. Make no bones about it though; this strategy takes time and discipline and a high degree of diligence and meticulousness in keeping exact records.

Credit card issuers reserve the lowest interest for customers with the strongest credit histories, so, as always, try to maintain a clean credit history.

Nowadays, instant gratification seems to be everyone’s mantra. People see something that they want and they do not think twice about buying it. “Buy now and pay later” has become a routine practice followed by many people. Today, it seems that all you need is an income to get access to a credit card.

With the advent of electronic communication and the Internet, instant approval has become a prominent feature with credit card applications these days. Simply put, certain card offers maintain an instant approval feature whereby cardholders applying for a credit card get to know immediately whether he/she is eligible for the credit card or not. Many consumers find this method to be convenient as it requires much less, and in some cases, no paper work at all, eliminating the need to physically mail the card application by regular mail, which traditionally takes a much longer time.

Credit Card Instant Approval Facts

In order to prevent confusion when discussing the prospect of a credit card instant approval, one should know the following facts. First of all, the instant approval and the credit card application are two different processes. Getting instant approval is the screening process that the respective banks and credit card companies use to filter out unqualified prospects. If you do qualify, the instant approval merely means that the card company has identified that you are suitable for the card offer, but that does not guarantee that you will be approved for the card itself.

The primary data points or pieces of information that banks or credit card companies will need to process your instant approval request are your name, address, and social security number. Some card issuers will require additional information but those 3 pieces of information will be required by all banks and credit card companies to do the initial screening for instant approval credit cards.

The credit card providers usually target people who have a good credit history. But because of the competitive nature of the credit card business, banks and card issuers today are more likely to extend credit to a wider range of potential consumers with varying degrees of credit history.

Many consumers are very concerned about the safety of providing information online. Credit card issuers that provide application forms online provide highly secure, encrypted environments to safeguard customer information and ensure that cardholders vital information will remain safe throughout the application process.

Primary Advantage of Instant Approval Credit Cards

The primary advantage of instant approval credit cards online is simply a much quicker turnaround on qualification for the actual card offer. While this process is undoubtedly much more convenient than the traditional card application process, many times, however, the bank will need to further investigate the credit worthiness of the applicant and will require additional information before approving the application. So even when applying for instant approval credit cards online, consumers should be patient and realize that although qualifying for an instant approval credit card might be instant, getting approved and gaining access to the credit line most certainly will not be instantly gratifying.

So the bottom line is that while instant approval does hold some significant advantages, an instant approval does not mean instant credit or instant access to money, which is a common misconception of potential cardholders.

Many people argue that all credit cards are bad. However, I am and always will be a firm believer that credit cards, if used responsibly, can actually help you achieve and obtain financial milestones. That being said, this does not mean that all credit cards are equal. In fact, some credit cards should be avoided at all costs. These “avoid at all costs” credit cards usually have extremely high interest rates, more fees than are calculable, and generally cost money to own regardless of your actual usage. These credit cards are called secured credit cards.

First and foremost, secured credit cards are specifically designed for people with bad credit. Credit card companies will tell you that the high interest rate and the numerous fees are in place in order to offset the risk of you defaulting on your credit card bill. As such, if your credit score allows you to get any other card besides a secured credit card, do not get a secured credit card.

Secured credit cards are basically credit-debit cards. With secured credit cards, you have to deposit a certain sum of money with the bank (for example, $500) that issued the credit card. This deposit becomes your credit line, and you charge purchases based upon your deposit. However, instead of paying off the purchases from your deposit money, the bank sends you a bill. Your deposit money simply sits there, not collecting interest and not helping your situation. Additionally, secured credit cards usually have ridiculous fees (such as account set-up fees, annual fees, program fees, and account maintenance fees, to name a few), which do nothing but cost you money. To top of the matter, secured credit cards can have extremely high interest rates. The bottom lines is that even though secured credit cards may help to rebuild your credit, because of the enormous amount of fees and the extremely high interest rates, it may be better for you to wait the seven (7) to ten (10) years it takes for negative information to be removed from your credit report instead of getting the secured credit card.

The point is, the worst credit cards available are secured credit cards. As such, you should avoid these at all costs when applying for credit. If your credit score is so low that the only credit card you can get is a secured credit card, it may be in your best interest to wait until things improve before getting a credit card. You have other options (such as discussing your situation with a credit repair company) besides getting a secured credit card.