As we grow older, we tend to realize that Mom and Dad were right about credit cards being a big responsibility. We realize we have overdone the freedom which we thought was an adventure and that it resulted to the thick wad of bills on our desk. Before we could hear our parents say “I told you so”, we try to seek for other ventures to get this problem fixed. That is another adventure, but this time, we are on the hard mode of difficulty. Our goal? To battle, out the evil effects of having too much debt.
So what do we do? Like the heroes in the role playing games we play, we have to gear up everything that we … (more) December 18, 2010

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American credit has decreased and has continued to do so since 2008. Industry experts state that Americans are getting wise on their debt decisions, tending to turn away from debts and already paying them up. Is that true?
The National Debt amounts to 2.46 trillion dollars, with 864.4 billion dollars of credit card debt a part of it. The average credit card balance debt is around $5400 while the average number of credit cards per family is eight to nine cards. With 1.21% delinquency rate of borrowers and a lowered credit debt by 8%, who says that Americans can’t anymore pay there debts?
Experts attribute this to the falling cash balances in the pockets of the citizens. The recent recession has made … (more) December 16, 2010

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Credit card applications are always accompanied with a very long one to two-page credit card terms and conditions. People find them a little boring because they are full of credit jargon. It should be understood that it is one of the credit companies’ tactics to get a customer get hooked up with the offers and wouldn’t mind reading the tiny text found along with the credit card application. But in order to sum it up, here are usually the basic terms you should read about.
Annual fees are service fees charged to customers for using an account. These fees can be usually high and if you have applied for a rewards credit card, you better make sure that the benefits are … (more) December 12, 2010

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Credit started centuries ago as a means to delay payment. Now, credit cards are used for the same purpose, only this time, it is becoming abused.
Imagine yourself in front of your computer and you have been tracking an item that is in auction in an online store. You just placed in your bid, one minute before the timer ends. Then suddenly, after ten seconds a buyer bid against you, offering almost double of your bid. You don’t have much with you and you’ve thought of your credit card, so you courageously waited for thirty seconds before putting on a triple amount of your previous bid. Congratulations you won the bid.
Here is another scenario: you are in your car driving along … (more) November 27, 2010

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Credit cards are often termed by a lot of users as a powerful plastic; so powerful that purchases can be made without cash needed.  They work like cash and are easier obtained now than several years ago. Well, yes it is easier but with restrictions coupled with it.
Credit card companies look on several factors like credit history and income and not a lot pass on this aspect. It could frustrate some but companies have their own standards that we just can’t break. There are several cards that one can apply for and one of the latest trends when it comes to credit cards is the instantly approved card.
There had been some misconceptions about instantly approved cards though. Some people think … (more) November 17, 2010

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Applying for a loan is not that easy especially for the young ones. By having no income yet and a credit history this could almost be impossible. With this, you can see a lot of young people taking part-time jobs, borrow money from friends or relatives or apply for scholarships just to get through college.  With most of your friends having financial difficulties as well and most of your time spent on school project, how can you find time to earn extra for yourself?
Credit cards can be of great help to students but with most companies not willing to approve a credit card for them, how can they avail of such a ‘privilege’? Sounds difficult, but it is possible.
Without credit … (more) November 15, 2010

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