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Credit Card Basics
?which bank?s credit card do you have??, ?what is its credit limit?, ?what type of card is it??such questions are on everybody?s lips today. the world seems to have been squeezed and wrapped into a credit card. nowadays everybody speaks and grasps the language of credit cards. the credit card syndrome seems to have gripped all of us. but are credit cards only beneficial? let us analyze the pros and cons of this pocket plastic and see what outweighs the other.
the benefits of a credit card:
? keep heavy cash in abeyance?money is the most coveted thing in this world. carrying lot of cash wherever you go is always a bone of contention. a credit card facilitates you to travel without heavy cash and have a carefree and happy trip or shopping.
? imagine yourself out for shopping in a wonderful mall. while you shop, you remember to take boots for your son, spectacles for mother, necklace for your beloved wife?but falling short of money! the credit card is your best friend in such a situation.
? even if you lose your credit card, you need not be apprehensive and scared the way you get when you lose your cash. this is because you can get the card freezed or blocked from the bank and relax.
? credit card works anywhere and everywhere nowadays. you just need to bag your card and make a move to any destination without bothering for money.
? loan facility can also be availed via credit cards.
the negative aspect of surge in credit card usage
? generally everybody does not meet the eligibility criterion to hold a credit card. yet in order to enhance their sales and as part of marketing strategies, companies, private banks etc. do away with giving these cards to who so ever caters even to the minimum terms and conditions.
? the loan factor-the cards provide you with huge credit limits. the consumer ignorant of the forthcoming trouble, keeps on drawing money from his card and most often when he realizes his mistake, it is too late. he not only comes in the debt of the money he withdrew but also the massive interest that is charged by these companies and banks.
? many credit card companies provide lucrative offers almost every month in the form of incentives. these incentives are basically meant to boost the sale of their product. incentives like travel programs, gas purchases etc. are a very common phenomenon these days. but one should not get lured by these for it is well said that everything that glitters is not gold. initially the cards might be promising for some cheerful moments but once you become habitual of them they can land you in soup.
? the addictiveness- it is most often the addictiveness of these cards that is a source of trouble. people, who keep on drawing from the bank?s or company?s credit, suffer largely.
? debit cards are believed to be different from the credit cards. but actually the difference is minute. a debit card can also be used as a credit card at times and there are some eminent banks that charge fee with the debit cards too. so more or less the situation remains to be the same.
when you make up your mind to go for a debit card, consult some advisor. know the details of the interest rate, the tenure to repay the amount and other such things. do not be carried away by brand names. just make a survey first and then decide which one to go for.
mansi aggarwal writes about credit card. learn more at http://www.freeroller.net .
article source: http://ezinearticles.com/?expert=mansi_aggarwal
Online Gambling Causing Credit Card Debt
it is the latest craze at the moment and everyone seems to be enjoying gambling at home with the increase of poker sites on the internet, but its not good news if you are running up debts on your credit card. i don?t know about you but it seems that i have a misconceived perception of time when i am sitting at my computer; time just seems to fly by. the longer you are gambling on an internet poker site, the more money you are spending.
online gambling is being seen as pushing up consumer debts and that?s not good for the uk economy. figures from the government have revealed that the amount of money spent on gambling last year was ?42.8 million; in 2001 that figure was only ?8.6 million. it is a perturbing sharp increase. internet sites that have been registered outside the uk have not been included in the government figures of money spent.
the glamorization of gambling, especially poker, by celebrities at the moment is partly to blame for the rise in gambling. sitting at home on your computer can undermine your ability to spend your money wisely. internet poker sites or casino sites allow you to insert your credit card details; once your details have been entered you can continue gambling up to your credit limit. some gamblers are maxing out numerous credit cards at a time to try and win back money they have lost with the debt advisor group seeing some individual debts as high as ?100,000. casinos have a strong cash culture unlike internet gambling where it is your credit card that does the spending. using cash instead of your credit card makes you more aware of the amount you are spending.
the growth of gambling online in the next five years is predicted to be around 22% a year while playing poker online is said to rise by 44% a year. gambling through your mobile phone is now also being offered by companies which could see even higher debts being accumulated.
gambling has always seen its fair share of creating debt problems but with easier accessibility it may cause more households to suffer from unmanageable debt. other household members are usually unaware that there is a debt problem looming not realizing how much is actually being gambled, the more desperate people become to win back their money the higher the stakes become seeing people usually losing more and more.
if you are suffering form credit card debt problems through internet gambling there are many organizations that can help you. seeking help sooner rather than later will prevent even more debt.
joseph kenny is the webmaster of the credit card comparison sites http://www.freeroller.net/ and also http://www.creditcards121.com/
article source: http://ezinearticles.com/?expert=joseph_kenny
Comparing Credit Card Offers
how do you start to compare credit cards? finding out the best credit card to suit your needs can be a very time consuming process but one which can save you money and bring you more benefits than just choosing a credit card at random or the one which accepts your application first.
there are many different types of credit cards on the market but knowing which way you are going to deal with your finances before you apply for one could help you choose the best credit card for you.
if you pay off the total amount of your credit card bill every month then you would benefit from a reward credit card. reward credit cards can offer cash back if you prefer or if you are a traveler then a credit card that offers air miles would benefit you.
if you already have a credit card, with a big balance, and are looking to switch to another then you may want to take advantage of a 0% balance transfer deal where the balance on your current credit card can be transferred without interest being added for an introductory period. ultimately this will cost you less and gives you the opportunity to pay off your balance a little quicker. before choosing your 0% balance transfer credit card be aware of the interest rate after your initial interest free period as some cards can have a high interest rate so look around.
for the more extravagant spender, a 0% purchase credit card could be right up your street. in the first several months as an introductory offer there will be 0% interest on what you spend on your credit card meaning you may afford that little luxury item as you won?t be paying interest on your payment.
if you have a bad credit history and are worried whether you would be able to obtain a credit card or not, don?t worry, as there are lenders that will deal with your case, although you will most probably be charged a higher interest rate. credit cards can benefit you if you have had previous bad debt to rebuild yourself a good credit history.
all of these different types of credit cards also have other added benefits included and you should look at them more in depth. you can save a lot of money by comparing credit cards and the hard work of choosing the best credit card will pay off, right into your back pocket.
joseph kenny is the webmaster of the credit card comparison sites http://www.freeroller.net/ and also http://www.creditcards121.com/
article source: http://ezinearticles.com/?expert=joseph_kenny
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