Invest money

Should you pay with debit or credit? This is a hard question to answer. I used to pay with debit for a single reason. I don’t have a credit card and I prefer to pay by cash. I don’t like entering the PIN, since I don’t feel it is secure. I feel it is more risky than having lots of money in your wallet.

Then I got my credit card. At first I still pay with cash. But one day, I learn that I should be using credit card to take advantage of the reward system. But the most important thing is I will know how much money I spend each month from the monthly billing. From that monthly report I can analyze my spending. I can compare it with last month report. That way I know if I need to stop spending money. But in this credit card article, it says that using credit card will make you spend more. According to the article, Dave Ramsey has noted people using credit cards typically spend over 10 percent more than they would have otherwise. I think that might be true for most people. For me who hard to spend using credit card does not make me spend more money.

The article also said that by using debit we will help small business. If we use credit card, then small business will have less profit because the bank charge fee on them. So if you want to help small business in your community you should pay with debit.

Anyway it is up to you whether you want to choose debit or credit. Remember to always pay 100% of your credit card debt in the end of the month if you prefer credit card. You can ask your bank to auto pay your credit card debt since it is easier for you. So you do not worry to forget paying your debt.

FirstCredit.net just released their top 10 credit cards, here are the list:

1. Chase Freedom

The Chase Freedom card offers 5% cash back in quarterly bonus on various categories like gas, department stores, and home improvement. The cash back is subject to quarterly maximum. You also can get unlimited 1% Cash Back on all other purchases without any spending limit. Additional 20% cash back will be given when you shop online at selected merchants using this credit cards. When you apply for a credit card with Chase through Chase, you can choose between $100 or $50 cash back bonus. The second cash bonus offers a low annual percentage rate. It has 0% interest for 12 months when you do balance transfers and 6 months purchases made from your card.

2. Discover More Card

The Discover More Card offers 5% cash back bonus in various categories like travel, gas, restaurants, groceries, and home improvement stores. When you apply this card, you can get $100 cash back bonus. The card has 0% APR on Purchases made with the card within 6 months. You also will get up to 1% unlimited Cashback Bonus on purchases at other categories.

3. Chase Sapphire

The Chase Sapphire card is the best credit card for people who want excellent service. You will get 24 / 7 dedicated expert service advisors who you can talk to. You can earn a free flight or with 25,000 bonus points by spending $3000 in the first 3 months. You also get double points on all airfare you booked with the card. You can fly on leading airlines at anytime because there are no restrictions dates and your points will NEVER expire.

4. Slate from Chase

Chase Slate credit card is the best general credit card which is designed for customers with good credit. It offers 0% APR for up to 12 months. The card has unique design where the card is set vertically. Chase Slate card will give you Blueprint(sm), which is a free feature that will help you pay down balances faster.

5. Continental OnePass Plus Card

The best airline credit cards is definately Continental OnePass Plus Card. You will earn 25,000 bonus miles after your first purchase. That is enough for around-trip within the United States but not include Hawaii. You will also get an additional 5,000 bonus miles after your first purchase if you add an user within 2 months of your account. When applying , you will get your first checked bag free.

6. IberiaBank Visa

IberiaBank credit cards offer one of the lowest interest rates. You pay 0% APR for 12 months on purchases. The best part is the card offers a regular interest rate of 7.50%, which is far below the industry rate.

7. Capital One Platinum Prestige Card

The Capital One Platinum Prestige card is the card when you want to transfer your higher rate balances. The balance transfers can processed in as little as 48 hours. If you card is stolen or lost, you will get $0 fraud liability and there is emergency assistance which gives you a replacement card. You pay 0% interest on purchases and balance transfers for up to 15 months.

8. Chase Ink Cash – Business Card

The best business credit card is Chase Ink Cash business credit card. It is designed to suit the daily business needs. The card offers 3% cash back on fuel, home improvement, dinning, and office supply purchases. You will get unlimited 1% cash back on all other purchases. Every spending will give you points. You’ll get up to 10 points for each $1 you spent when you shop online. If you need additional card for your employees you can get it at no cost.

9. Orchard Bank Visa/Mastercard

If you have bad credit score, then Orchard Bank Visa and MaterCard are the best. They offer lower rates and fees. You can get an interest rate as low as 14.9 percent, which is pretty low for people with bad credit. This credit card will help you to increase your score since it reports to the 3 major credit bureaus each month. It also reminds you for your upcoming payment due date through email.

10. Discover Motiva Card

Discover Motiva Card rewards on-time payments. You will get 5 to 20 Percent Cashback bonus at more than 150 top retailers through Discover’s online shopping mall. For other purchases, you will get up to 1% unlimited Cashback.

Everyone has heard about credit cards and their advantages, but few of us know that there is a possibility for students to get a credit card specially designed for them. Whether this is a good or bad thing is a matter of various elements, but those who lack funds to pay tuition fees or other expenses related to school can make use of this product.

Student Credit Cards can be obtained by high school-, college- and university students. These cards’ primary characteristics are the better terms and conditions they provide compared to traditional credit cards. Isn’t it great? Besides being more advantageous, these cards provide students with an extraordinary opportunity to implement money-management skills and thus to prepare themselves for more complicated financial transactions and tools. Moreover, college and university students can make use of Student Credit Cards by building up an excellent credit-report. By using this card properly, these students can have such a good credit rating that will open them other financial opportunities after graduation, such as good-term loa ns with lower-than-average interest rates. These loa ns may be used to purchase car, house, or to go to a dream-holiday.

What should interested students know about the eligibility criteria and the application procedure? Almost anybody can get a Student Credit Card, but high school students can only obtain it if an adult co-signs their application. A minimum income declaration is also needed from this adult for security-reasons by the credit card company. Many people (especially parents) who have heard about this option for the first time are afraid of students being too naïve and unprepared for such a serious financial responsibility. However, there is a solution to this anxiety. Pre-paid credit cards are a good alternative for immature high-school students who need time to learn how to manage their personal finances. But a prepaid student credit card is safe enough and may help students to improve their money-management skills as well as to become aware of the existence of financial limits.

Second, College student credit cards

do require neither a minimum-income declaration nor an adult co-signer. These credit cards are quite common, and as a result there are various credit card companies offering them. Some of these companies’ incentives are attractive credit-limits, advantageous and simple repayment-options, discounts, bonus points, low interests, interest-free periods, 0% introductory APR (annual percentage rate) both for purchases and for balance-transfers, but the list is endless. So for college students who can use it in a responsible way, this card provides numberless benefits. Those who intend to get a College Student Credit Card are advised to shop around, ask the opinion of a more experienced person, and choose wisely!

Third, university students are offered an even more advantageous credit card. But these individuals have to be attentive enough to make balance payments in full and in time each month, as otherwise they will suffer due to high late payment fees that are charged.

Those who intend to get a Student Credit Card need to understand that these cards are very different from debit cards. The latter works as follows: the owner of a debit card can make purchases from the amount that is put on the account to which the card is attached. The amount of the purchase is deducted from the amount present at the declared bank-account. Student Credit Cards, on the other hand, have their principal amounts offered by the credit card issuer. So these cards practically work as a loa n: students are required to pay back the amount they have spent. There is a possibility of creating a monthly balance, but this can cost the card owner a lot, due to the high interest charged. So besides enjoying the benefits of credit cards, students should be aware of the drawbacks of not managing their finances responsibly. So they should only have a credit card if they are able to spend money carefully and can prevent adding up unnecessary expenses and debts.

Students interested in credit cards should know the important features of successfully selecting their first cards. Choose such a card that can build a good credit history for you. This is of primary importance from the viewpoint of students’ future finances. Based on a healthy credit history, lenders will provide students with good term loa ns in the future. Besides credit reporting, applicants have to pay attention to the type of the card. There are ‘secured’ and ‘unsecured’ student credit cards. Secured cards are given for those who can secure collateral against their future cards, or who provide a security deposit, while unsecured cards do not require any collateral from the applicant.

Secured Credit Cards are safer because parents can have better control over the spending of their child. Similarly, the card owner can only increase the spending-amount if somebody deposits more money into the account.

When making their decisions, students (and parents) are advised to take into consideration the lending institution, the charges, as well as their ability to make payments in time before accepting any deal. They should also read the credit card agreement carefully, and check the logo on the credit card. This may be a sign of the card issuer company’s reputability.

Finally, we can agree that student credit cards are more convenient than carrying cash. But students should not forget to pay attention to their spending habits and prevent accumulating interests and other charges. Be aware of the risks of possessing a credit card, but after having this knowledge do not forget to make use of the opportunities and benefits offered by this product!

Why do people use plastic money or credit cards as they are called? Because most items can be purchased by using credit cards.

Credit cards can be classified as standard, secured, business, entertainment and so on. There is a long list of credit cards available in the market. You should http://www.compare2save.com.au/ which have flooded the market before you apply it. There are a couple of variable you need to watch: balance transfer rate, annual fee, and most important interest rate. Here are the best credit card that I found using http://www.compare2save.com.au/credit-cards/.

The St.George Vertigo Card has a balance transfer rate of 2.99% with an annual fee of $55 and an interest free period of 55 days. It has interest rate of 10.99% per annum.

The Aussie Mastercard has a balance rate of 4.99% with a year of balance transfer period. The annual fee is 49$ and with 55 days of interest free period. You will enjoy 11.49% of interest per annum with this plastic money.

Another feather in the cap is the ANZ Low Rate Mastercard. The privileges that you would enjoy with this card is 0% balance transfer rate, 6 months balance transfer period and an annual fee of a meager $58 and 55 days of interest free days. The rate of interest is 11.74% per annum.

CBA Low Rate Card also qualifies the criteria for ‘best credit cards’. The balance rate of 4.99% with a balance rate of 9 months and an annual fee of $48 with 11.74% rate of interest per annum. You will enjoy 55 days of interest free period.

Having a credit card is very convenient since carrying a lot of cash becomes unnecessary and you might even have a hard time leaving your credit card at home. But with its advantages comes also its disadvantages. Since you can always buy things without carrying cash around, you are always tempted to buy something that you come across. If you have excellent control on your finances then good for you. If you have a hard time managing your credit card, then these pointers can help you.

Get organized

First thing’s first, obtain your credit card records to have a better idea of your spendings. Be sure to double check the records for errors and ensure its accuracy. A good example would be to find out if you have outstanding debts that should not be there as well as the accuracy of the listing of your former and present address.

Evaluate your credit card

Go over your recent credit card records and look at the interest rates. Some credit card companies have promos wherein they offer lower interest rates for a period of time and this promo may already be over yet you have no idea and are already paying at a higher interest rate. Also take note of the membership fee which they charge annually since some have very high membership fees. Consider canceling this if you are not using it frequently.

Pay on time

It is important to pay your bills on time since it can have a negative effect on your credit record or rating. You will also be able to avoid getting charged because of not paying on time. Try asking the credit card company to remove the overdue charge if you have forgotten to pay it on time for the first time.

Manage your debts

If you see that you have more debt than what is comfortable, think ahead and plan out how you will repay it or at least reduce your debt. Devise a way to pay more than what is required of you so that you will have a reduced payment schedule. Prioritize the card that has the highest interest rate. Do not bring your credit card always when you go around since temptations abound.

Don’t bite more than you can chew

As the saying “don’t bite more than you can chew” goes, do not spend more than you can afford. True, a beautiful gold bracelet may be enjoyable to wear but its price tag may mean paying a lot for the next months. If you are bent to save money when using your credit card, unnecessary items like jewelry and the like should be at the bottom of your considerations.

UK bank Barclays launched a new premium credit card last December called BLACK CARD. It’s the world’s most prestigious and versatile credit card.

Here are benefit of the card:

• Limited Membership: Membership is limited to ensure the highest caliber of personal service is provide to each Cardmember.
• 24-Hour Concierge Service: Enjoy the personalized assistance of a 24-hour Concierge Service catering to entertainment, travel, business, shopping and lifestyle needs.
• Exclusive Rewards Program: Redeem points at a higher rate for flights on any airline at any time.  No blackout dates or advance purchase requirements.
• Luxury Gifts: Cardmembers receive luxury gifts from some of the world’s top brands.
• Travel Lounge Priority Pass: Complimentary membership which provides access to over 600 lounges in more than 100 countries.
• Patent Pending Carbon Card: The unique carbon design is sure to get you noticed.
• BC Benefits: Cardmembers are eligible for benefits including Worldwide Travel Insurance, Baggage Delay Insurance, Trip Interruption Insurance, Warranty Manager Service and Purchase Security.

In what was termed as a great move, the Supreme Court has refused a stay made by national consumer forum stating that banks cannot charge more than 30% interest rate annually if the full amount on the balance is not paid on the credit cards. Some banks are even charging around 50% as interest charges annually. This will definitely put a halt on these credit cards issuing banks who have been the customers for granted in this issue.

Now, we will have to wait and see how well this is implemented and how the customers are benefited from it since this is just a stay and a full law should be made in this regard. And also the foreign banks are going to appeal against this stay.

It is to be noted what these banks have listed as the reasons why they are overcharging us, very funny,

• Processing cost for setting up a new card in operating system
• Cost of courier and cost of embossing the card
• Cost of providing phone banking service
• Cost of sending monthly statements
• Cost of providing internet banking facility
• Cost of waiving charges for service reasons
• Cost of marketing and promotional offers
• Cost of rewards and loyalty programme

And what’s more even funnier is the fact that they have mentioned the call rates that they have to take up to call the random customers to persuade them to buy their credit card!! It is not us who are asking them to call us to get the credit card, but it is those banks who do this for their profit and they are not doing any social service.

There should definitely be a cap put somewhere to stop these credit card companies from over charging using various hidden and other charges as well as the interest charges.