Finding Credit Cards Blog

I’ve got all my bills paid off (school and credit cards) and i was looking to cancel all the credit accounts and just open one account with a card that has good benefits for using it. Then i’m going to pay my insurance, phone, car and other expenditures with that card and just pay it off every month so i don’t have to pay interest, but i get benefits. Anyone know of any good cards?

Chase offers a reward card that you can alternate between getting cash back or miles/points. I personally like my Washington Mutual (formerly Providian) because they pay promptly on the anniversary date/month a rebate check. Not just credit into your account. Most only offer 1% (the 5% c’mons) are for only certain transactions AND the merchant has to be coded as that specific vendor, i.e. gasoline station, not a convenience store, etc……so you won’t really see that much difference between the two rebate amounts. Review at bankrate.com credit card section and punch in criteria you want. Yahoo Finance also has a credit card analysis page. (to me CASH is always better than points/credits for future purchases, like GM card because you have to BUY something to take advantage. what if you only want the money? Take the cash!!!)

I am trying to pick my credit score back up off the floor and have heard that you can do this by applying for credit cards and making the payments on them. Nice! Except, I went through a divorce and my credit is now lowsy. I pay all my bills on time and have a decent job, yet credit card companies don’t give me the time of day. Does anyone know of a company that will work with a credit slacker like me?

Aply for a credit card of a small amount i.e. $300,00 at CAPITAL ONE or your bank, saying you need a credit card to purchaise things trough the internet. After maybe 2 months they put your credit up ond so one. After that your credit repport will be better recognised and you start to have better chances.Like I do I allways pai in before the time and sometimes i put my credit card in credit of £100,00 pounds to schau Them I’m a honest coustmor.And sometimes when I go to the bank they offer me credits and I have a low ballance money in the Bank, but allways in credit. Good luck.

Hello i would like to know if someone could let me know of any credit cards with a low interest rate on cash advance (withdrawing and such) and purchases for people with or without bad credit?

Thank you very much, any information will help my sister out.
~Scott
Oh and please can people only list places i can apply for in Australia, again thank you.

most of the credit cards for people with bad credit will carry some fees. If you have good credit you will probabaly not have to pay any fees at all. Because of the fees attached to bad credit cards the interest rate is usually pretty low, around 10% for some. Of course with good credit the interest is also pretty low with out the fees. You can view cards and compare them for both good or bad credit at http://creditcardwarehouseonline.com It will show interest rates and year fees if applicable.

I am curious to know how much start up money would be needed to start a small Credit Card Company. I am interested in extending credit with Secured Credit Cards with low limits for individuals looking to establish or re-establish credit by a secured credit card. Also I have thought about prepaid debit cards for those in chexsystems and cannot get conventional checking accounts.

Any help?
What I mean is not to broker, but to be able to start a very small company directly.

as a broker or the one lending the money?

if a, contact lenders.
if b, you will need many millions of $.

I applied for credit card and they are sending it. But I heard it was a horrible bank to go through with bad customer service and holding payments so they will be late and charge late fees. I don’t really want this headache so was wondering if by not activating it will make me not obligated to the agreement.

Cancel the card if the company truly makes you nervous. Not activating the card just prevents you from using the card, it’s still an open account. If you don’t activate the card, then they cannot hold payments and charge you late fees because you cannot use the card if you don’t activate. However, if they start programs that charge monthly fees, you’ll be responsible for those fees. In addition, if they charge an annual fee or if they begin charging an annual fee, you’ll still be responsible.

My husband and I have around $20,000 in credit cards and I want to get them all on one to only have one payment. Do I get another credit card and put them all on there, get a personal loan, or is there something else out there that can help us? We have good credit, so I don’t want to ruin that. Please help!!

There are several options available to you in a situation like this.

1. Search the internet for credit cards with lower introductory rates for balance transfers up to the amount you need. Just make sure that you check what the interest rate will be after the promotional period.

2. If you’re a homeowner and have $20k of equity you can apply for a home equity loan which has a significantly better interest rate. (This is the best option.

3. Contact your bank and apply for a line of credit to consolidate the cards into the loan.

2&3 are the best of these options as you’ll get a better interest rate and you’ll have a real good chance of being approved because you’ll either use your house as collateral or your bank will see the opportunity to make money on a loan which helps them and at the same time will leave you feeling good about them so that way you won’t want to change banks.

Good luck!

I recently paid my credit card bill of $2.27, however the credit card company entered the payment as $227.00, causing $50 in overdraft fees at my bank. The credit card company had me fax over a statement with the bank fees on it so they can take care of it, however after 3 weeks they still haven’t done it, they tell me that they don’t even know if the statement is in the building and that they get hundreds of faxes a day and as soon as they get to it, they will handle it, what if this takes months? Is there a way I can make them take care of this matter more quickly? I just went ahead and paid my banks fees just so I could use my bank account again. Did I do the right thing? What if the credit card company never received the fax and they end up asking for another one, how can I make sure that they receive it? They corrected the mistake between the $2.27 and $227.00, maybe that’s all I can hope for.

call the company and while you have the individual on the phone fax the copy directly to them.

if that does not work then file a small claims case against them immediately.

I want to increase the limit 1000 dollars a month but I am trying to find a secured credit card that will allow me to continue to add money. After they give me the secured account I will use the money to get another secured card at another bank. Is that a good idea? I plan on saving $10,000 and making both of the cards that limit.

I think that is an excellent idea if you can do it. Yes most if not all of the secured credit cards you can add additional moneys up to a certain amount. That is up to the credit issuer (credit card company). What I would do also, is open up a secured loan at a bank, and borrow against that and then make payments on this account to show good credit payment history. You should have more than credit cards history, you should also have either a bank loan, car loan or a house loan, in the near future. Good luck you are well on your way to establishing good credit.

I am pretty positive it’s based your salary.
And that they look at your credit reports to see credit limits in other cards.

My guess is no more than 25% of your salary in credit.
Any other guesses on how credit card companies figure out credit limits?
Credit card companies do not give out this information.

Instead of asking YA for "guesses" why don’t you just call some credit card companies and ask them so you will know for sure?

I have 5 credit cards with different limits and rates.I’m in the process of paying them all off, however I know you need to have balances on your cards for healthy credit. How many cards should have a balance and how many should be unused?
@Stephen, if i have no balances, then what’s the point of having credit cards to begin with? How else will I build credit history?

Check the terms of the accounts to see if/when they charge inactivity fees. Having zero balances on them all would not be bad for your credit score, but it’s better to show future creditors that you are making monthly payments and handling credit responsibly. Right now you’re making payments to several cards and it shows on your report. Once you pay one account off, the report will still show you are making payments to the others - which is good. Focus on paying off one account, then only use that card if it charges an inactivity fee after so many months - use it for something small you were going to buy anyway, like gasoline, and pay off the entire balance before the due date and only do this every so many months to avoid the inactivity fee.

To pay off debt, take a targeted approach. Prioritize your debts, make the minimum payments on all debts except #1 on your list. Once that debt is paid off, take what you were paying toward it and put it toward #2 on the list. There are a few approaches to prioritizing debts: lowest balance, highest interest rate, highest minimum monthly payment. Lowest balance will mean paying off one account the fastest. Highest interest will generally save you more money in the long run. Highest monthly payment will mean more money freed up for the next debt. Each of these are valid approaches. Below is an excel template that may help you determine the best way to pay off debt; you can run scenarios and see the account pay off dates and total amount paid for each scenario.

The best way to use a credit card is to keep the balance below 30% of the credit limit and pay off the entire balance each month. This builds your credit history and avoids interest charges. Once you are debt-free on all the cards, make a plan that works for you as to which card to use for what.