Credit Cards

Credit cards can be a wonderful convenience when used properly. However, if abused, they can turn into an extremely long-lasting nightmare. They're obtainable in a variety of types, each suited to a specific purpose.

Bad-Credit Credit Cards

There are several different types of bad-credit cards which are available: prepaid, secured, and unsecured. Prepaid credit cards are in essence no more than debit cards. To obtain one, you simply open an account with the issuing bank by depositing a certain amount of money.

Credit Card Balance Transfers

Credit card companies heavily promote balance transfers in their advertising and direct-marketing offers. But make no mistake; even though the companies use phrases like "pay off your other cards" in their promotions, transferring credit card balances is not the same thing as paying off your credit card debts.

Credit Card Q&A

There are three basic types of credit cards, each with its own special credit characteristics and uses. The bankcards, Visa and MasterCard, are the most common and widely recognized, and are issued only by banks, savings and loans, and credit unions. They give merchants the opportunity to sell their goods and services on credit.

Business Credit Cards

Business credit cards are not just for large, well-established companies. Small and intermediate-sized operations also benefit from the many advantages that company credit cards can bring.

Know how to handle Credit Card Problems

When you've been approved for and issued a credit card, you become responsible for the purchases made with it and the payment for those purchases. If there are other authorized users of your account, you're financially responsible for payment of any charges that they make as well.

How Credit Card Finance Charges are Calculated

Interest rates and the method by which finance charges are calculated vary from one credit card company to another. Fortunately, they must by law disclose the interest rate that they charge as well as the method which they use to calculate the charges that are added to your account.

Origin and History of Credit Cards

Credit cards got their start in the United States just before the beginning of World War I. Department stores began the practice of issuing dog-tag style metal plates to their favorite customers.

Open-End Credit Accounts

An open-ended credit account, also known as a revolving account, is a credit plan in which the creditor has a reasonable expectation of repeated transactions, stipulates the terms of those transactions, and provides for a finance charge that may be computed periodically on any outstanding balance.

Some Credit Card Facts you should know

For many people, it's advanced to the point where it's unusual if they don't receive at least one "pre-approved" offer a day. And they're all very eager to let you know how much they think of you and how good their particular offer his. Some even go so far as to congratulate you for being selected to apply for their card - not "approved" for; apply for!