Dec 31, 2012
miraamira

New Discover it Card – Even Better Now

Many of us are using Discover cards for years and it is winning in customers satisfaction category year after year.
The most popular Discover Card was More card that offered 5% cashback on selected categories (restaurants and movies this quarter through March 2013), the only regular complaint from the users was that that outside the 5%categories you could get only 0.25% as a cashback for the first $3000 spending.
Now Discover made a strong move – they improved they best card and now offer a new line of Discover it Cards. This card in general have all advantages of More card plus offer 1% for everything that doesn’t fit into 5% bonus categories.
A new card comes in two versions for regular customers and one student card. Continue reading »

Aug 31, 2012
miraamira

Using Credit Cards to Build Credit

It is often said that money makes the world go round, but in today’s tough economic climate it may be more accurate to suggest that “credit” makes the world go round. Whether it be renting an apartment, buying a car, buying a home or even applying for a credit card, a positive credit score is vital, not only for approval but for favourable interest rates. A credit score is a representative number assigned to an individual that acts as an indicator of their creditworthiness and how risky is to lend money to them. Risk is a huge factor in interest rate calculations, and credit scores allow those with good borrowing histories to avail of preferential rates. For this reason, building a good credit score is essential for any consumer. Thankfully, there are some ways to improve your credit score.

How do Credit Cards Help to Build Credit

Nowadays, credit card companies offer credit cards to build a person’s credit. As a form of lending, standard credit cards report to credit reporting agencies like FICO. Based on a number of calculations such as percentage level of borrowing against available limits and repayment history, a credit score number is generated. This number improves with positive repayments and is negatively affected by missed payments or default. Unfortunately, it can be difficult for an individual to prove their creditworthiness after their score has been negatively affected, or if they have never had any previous lending. This is where credit cards to build credit come in to play. Continue reading »

Aug 10, 2012
miraamira

Choosing the Best Travel Credit Card

If you have travelled abroad recently, or plan to in the near future, you may have been advised to use your credit card rather than bringing large sums of cash. It is true that travellers are often targeted by criminals and pickpockets, and travelling with small sums of cash provides added security and peace of mind during your trip. In addition to this, using your credit card abroad allows you to avail of the interbank exchange rate, which is generally far more generous than standard foreign currency exchange rates available from your local bank. Unfortunately, many credit cards and card providers have taken to charging an additional foreign transaction fee that can range from 1% to 4%. When you think of the accumulated cost of accommodation, travel and spending money, these foreign transaction fees can quickly add up. Continue reading »

May 14, 2012
miraamira

Best Cash Back Credit Card to Get Rewards for Your Purchases

Cash back is one of the most appreciated types of credit card rewards. The idea of receiving money back every time you make a purchase is so popular among Americans that many of them hold at least one, if not several cash back cards. However, these credit cards differ in the offers they include, so finding the card with the best offers is important in order to fully enjoy the benefits of this type of reward cards. While, some time ago, credit card issuers offered as much as 5% of kickback on all purchases, this is no longer the case. Now, the cash back offers are around 1%-2%, but special increased rewards for different purchases can also be received.

Cash back card offers differ in many ways. There are two major point systems used: flat rate system or a tiered system. The first one has flat fees for every transaction you make, while the tiered system implies there are point tiers, and the fees differ depending on how much you spend. The latter type encourages spending a lot, so it is more appropriate for people who make large purchases every month. Continue reading »

May 14, 2012
miraamira

Preapproved Credit Cards for Dummies

It’s like Christmas in the mail. You open your mailbox and there, right in front of you, are preapproved card offers just awaiting your response. Are they too good to be true? Banks just don’t approve people in advance to get a line of credit, do they?  In a few short minutes you’ll know the answers to these and many more questions you may have.

What Are Pre Approved Credit Card Offers?

Preapproved credit cards are basically the offers to apply for a particular credit card that you receive in the mail.  Because banks or credit unions have a specific niche in mind when they send these out, chances are you fell into their target audience.  They will do analysis on customer base, coming up with data on which people are more likely to establish a line of credit with their company and which demographics are lacking.

For instance, let’s say that a credit card company did some market research and found out that 75% of their customers used their credit cards to shop for pet food and supplies.  In order to expand further into that market, the company would purchase a mailing list from a source like a pet lover’s magazine or members of PETA.  Figuring that these people would love pets and that their credit card holders love pets, the company would then send out pre approved credit card letters to all on that list.

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May 9, 2012
miraamira

Zero Percent Credit Cards – Too Good To Be True?

In today’s modern economy, many consumers are finding their attention drawn to the attractive prospect of zero interest credit card offers. Traditionally, credit card debt has proven to be one of the more costly types of finance for the average household, with interest rates ranging from introductory low rates to standard rates into the 30 percent plus range. More and more consumers find themselves looking for ways to ease their credit card debt commitments, and zero APR credit cards can often seem like the ideal solution. However, there are many things to consider before you enter into any financial arrangement, and these offers are no different.

What are Zero Percent Credit Cards?

Most credit cards advertise their costs in terms of APR, or annual percentage rate. Unlike the name suggests, APR is not a direct reflection of annual costs, but it is a good indicator of how costly different credit cards can be. 0% interest credit cards, are credit cards that offer a special interest rate for consumers who transfer a balance on their existing credit card over to a new card from a new provider. Many providers also offer 0% rates on purchases on these new cards. The interest free introductory period on these credit cards varies, but is usually between 6 months and 24 months. For example, the Discover More card offers 0% APR on both balance transfers and purchases for 15 months from the date you open the account.

Continue reading »

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