Instant Credit Card Approvals How To Avoid Fees Want To Profit From Your Credit Card Be Attentive Identifying Student Credit Card Basics Choosing The Best Credit Cards For You How Many Credit Card Deals You Need

Instant credit card approvals slicks are sweeping the Internet. Nearly anyone with outstanding credit can apply for these cards and receive a response in minutes, or sometimes-even seconds. The annual fees, interest rates, balance transfer fees, and other fees all vary on the credit cards, therefore contrasting and comparing is wise while seeking credit lines.

Annual fees – Many card issuers or banks often waive the annual fees, yet the card issuers will add the fees in a clause, therefore check the Terms & Conditions, fine lines, and other information before accepting the cards.

Interest Rates – The interest rates are often available upfront. Credit cards issued from banks offer revolving lines of credit, which 2% of the interest is levied, while the outstanding balance is repaid monthly. The actual rates of interest paid yearly can be right around 24%. This is an important issue to understand: if you roll over payments on credit cards, you may pay interest rates of up to 25% and more on a yearly basis.

The Annual Percentage Rates (APR), is the interest rates, which are often fixed or variable. The interest fixed rates and variable rates differ, therefore understanding your plan is essential for getting the lowest rates.

Grace Periods are important to understand also. The grace periods are what determines the fees and interest paid on the instant approval credit cards. Many banks issuing credit cards will offer a 25-day grace period before attaching interest to the card balance. This means that if you purchased a $100 item on your card you won’t pay interest on the balance, if paid before the grace period ends. If you pay the balance after the grace period, likely you will pay late fees and higher rates of interest.

Other Fees – Many credit cards charge fees on cash advances, balance transfers, etc. Therefore, read clauses, stipulations, Terms & Conditions, fine lines, and all other information before accepting a credit card.

Three Types of Credit Cards

Overall, there are three types of credit cards: house cards, bankcards and travel and entertainment cards. The bankcards are obtainable through banking institutions or card lenders. Most times, you receive a MasterCard or Visa. The Travel and Entertainment credit cards come from American Express, Diners Club, and so forth. These cards are accepted only in designated areas. The house cards include Wal-Mart Cards, Sears, Pennies, and so forth, and these cards are only accepted in the named stores. Still, you can apply for American Express, Gold Cards, and more through common credit card companies or banking institutions.

Conducting research is wise, yet it is nothing if you do not compare and contrast the instant approval credit cards. Many sites are available with information relating to instant credit card approvals. The secure sites will put you in touch with card issuers who specialize in helping you find the best credit cards online.

When it comes to choosing a credit card we try to find the best one to take advantage of. Every credit card user tries to find the best plastic with attractive features, the card with no fees and with a great number of rewards and other options.

There are a lot of stories about various financial problems caused by incorrect credit card usage. Such awful stories make you believe every word. But don’t you think that everything depends on you? There are a lot of successful examples of credit card usage. No annual fee credit cards or the plastics with enormous credit card perks. Do you think they come from nowhere?

Have you seen a lot of people who live a debt free life? Some people just dream about getting rid of debt but others take pains to avoid any problems. How is it possible?

Nowadays credit card market is full of profitable offers but unfortunately it’s not so easy to get them. If you are lucky and you have good credit history consequently you have a lot of opportunities. But it’s the dream appreciated by every lender.

But to think it over it’s not clear in what way the lenders profit from such eligible credit card holders. Let’s get to the bottom of such a situation. You have no annual fee, no interest rates, pay your bills on time and take the most of the card.

In addition to this your lender rewards you with some credit card perks for responsible credit card usage. Nobody thinks that credit lenders are so kind that they are ready to present you with various rewards for no reason.

It’s a well-known fact that credit card industry is among the most profitable in the USA. The largest portion of its revenue is from interest paid by consumers carrying their balance. To say nothing about annual fee that is $45 on the average.

Credit lenders profit from our mistakes. For instance you have forgotten to pay your balance on time. You are penalized with no less than $19 plus penalty interest rates you have to pay. Creditors profit greatly when you pay for the purchase with you credit card. They have about 2% from each dollar spent on the card.

Often, when people are browsing through the different types of credit cards available, they come across the category of “Student Credit Cards.” Many people, however, are not sure what a student credit card is or why they are even offered. Generally, these cards are meant to be credit cards for college students, although they can be used with high school students as well. To better understand what student credit cards are all about, it is helpful to take a look at student credit card basics.

Who can use a student credit card?

While student credit cards are generally marketed toward college students, anyone can usually apply for one of these cards. Some cards, however, will ask the name of the college the student attends and will require verification in order to receive one of these cards.

Why does the credit card application ask for the name of the college?

Companies offering credit cards for college students realize that college students generally do not have any type of established credit history. A limited credit history makes it more difficult to receive a credit card. On the other hand, these companies realize the importance of having a credit card while in college. The fact that you are attending college demonstrates to the credit card company that you are responsible and you are looking toward your future. This gives them a small reassurance that you might also be responsible for taking care of your debts.

What is a secured student credit card?

A secured college credit card is really more like a debit card. With these cards, you (or your parents) deposit money onto the card ahead of time. The amount of money you can spend with the card is limited to the amount of money that has been placed on the card.

Why would I want a secured student credit card?

Secured college credit cards are beneficial for parents who want to give their college-aged child an allowance while at college. In addition, there is no risk of accumulating a debt that you cannot repay.

What are the drawbacks to secured student credit cards?

Secured student credit cards usually have a large number of fees. Often, there is an enrollment fee. This fee can be as much as $100. There are also usually annual fees or monthly fees. In addition, there is a small fee every time money is put onto the card.

What kind of interest rates do student credit cards have?

Secured student credit cards do not have an interest rate since you are not actually borrowing money from the credit card company. Unsecured student credit cards that extend a line of credit, however, often have a higher interest rate than other credit cards. This is not because the card is a “student credit card.” Rather, it is because the cardholder has a limited credit history. Therefore, the interest rates are comparable to other credit cards offered to people with a similar credit history.

Do student credit cards offer rewards programs?

Some college credit cards do offer special reward programs. As with other credit cards, however, student credit cards with special reward programs usually have an APR that is higher than those without reward programs.

Why should I get a student credit card instead of a traditional credit card?

There are credit cards available for people with a limited credit history that are not specifically meant for college students. There is nothing wrong with getting one of these cards. Student credit cards, however, sometimes have a lower interest rate than other cards for people with a limited credit history because the fact you are attending college demonstrates a certain level of responsibility. In addition, student credit cards often have benefits associated with them that are meaningful to college students, such as discounts on school supplies.

The best credit cards for you are those tailored to your individual financial needs and objectives with low interest rates and, of course, those for which you will be approved. To find out what you’re looking for, answer the following questions:

1. Do you anticipate any large purchases in the next year (i.e. furniture, appliances, etc.)?

2. How long will do you anticipate keeping the principal of a purchase on your card?

3. Do you want to pay your entire balance every month?

4. Are you planning to use this card for purchases over a short time period or do you intend to hold it for a long time?

5. Do you currently have credit limits totaling more than 40% of your annual income or balances outstanding on those cards greater than 50% of the credit limit?

If you answered yes to the first question, you will need a card with a high credit limit and a low interest rate. This may seem obvious but not all people need these things. You may do best getting a card with rewards attached to something you are interested in, like an airline miles card.

If you answered greater than three months on the second question, you will need a low interest rate. Do not be discouraged by a low credit limit. The interest is where you will save money.

If you answered yes to the third question, you may be interested in finding a 0% interest charge card, such as American Express. These cards will not charge you interest as long as you pay your bill promptly and in its entirety every month.

If you answered that you want to hold on to your credit card in the fourth question, you should look for a moderate credit limit and a low interest rate. If you answered that you plan to use this credit card only in the short term, then you should look for a card with an introductory 0% interest rate. These are best coupled with a plan to pay off the balance by the end of the introductory term.

If you answered yes to either part of the fifth question, you may have some difficulty securing new credit cards. Part of your credit score is determined by the amount of credit you carry and the ratio of the balance outstanding to the credit limit. Some banks are unwilling to grant additional credit to those applicants whose credit scores are low due to outstanding credit, even if you have paid on time. The best credit card for you may be a card specializing in bad credit, regardless of how close you are to the acceptable credit rating.

Day by day we get lots of credit card applications in our mail boxes. Banks and credit card companies offer credit card deals for different purposes to fit everyone: reward credit cards, business credit card deals, student credit cards and etc. No matter what your credit history is, you can always find an offer for you.

Using credit cards, we can earn cash back, free movie tickets, discounts, free flights and hotel stays, etc. That is why having one more credit card offer in your mail box it is so easy to yield the temptation to apply for a new credit card deal. But there is a question: how many credit cards you need? Can the number of credit cards you own affect your credit history?

The researches show that most Americans use from five up to ten credit cards. An average American family owes credit card companies around $12,000 when an average household is only $ 50,000. Their credit card debt makes 24% of the annual income and it is without mentioning their car loans and mortgages. Isn’t the statistics is alarming?

The main question is: How many credit cards you need? Financial experts believe that two or three credit cards are quite enough and advise credit card owners to limit the number of credit cards they own.

Keep in mind, that your outstanding balance is very important to credit card companies. The balance should be between 25% and 50% of the available credit on each credit card of yours. If you overdraw your balance the potential creditors will hardly have much trust in you.

Before applying for one more credit card, consider the fact that the fewer the number of credit cards you owe, the easier it will be for you to keep control of your balance. Just think, having 3 reward credit cards, 2 gasoline credit cards and a business credit card dealat the same time, you can have many difficulties in keeping under control of your debt on all these cards. However, if you own only two or three cards, you will be able to keep track of your spendings and will know exactly where you stand with your balances!

Using fewer credit cards, you will feel that your credit cards work for you but not you work for them. It can also help you to decrease your entire debt. So, consider your needs and purposes carefully before applying for a new credit card in order to get the card that will fit all your needs. Mind the most important is not to have many credit cards, but to get a credit card that will provide you with all the features you need.

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