Top 5 Tips For Safe Credit Card Use Online

by Leon on April 30, 2014

tips for safe use of your credit cardOnline shopping has made it easy for consumers to compare products and prices from the comfort of their own home. You no longer have to drive all the way to the store only to discover that the item you’re seeking is out of stock, wasting fuel and polluting the environment in the process. But while you might appreciate the convenience offered by online shopping, you probably also have concerns about the safety of using your credit cards in cyberspace.

Identity theft is nothing new, but the combination of lax security measures and determined hackers has made for a perfect storm of mineable data. And the people willing to break into company databases in order to steal your sensitive data are not likely to have any qualms about selling it to the highest bidder or racking up charges using your credit, especially online, where no ID is required. However, you can find ways to use your credit cards in at least as safe a manner as if you were shopping in-store. Here are some guidelines to observe.
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Ways To Benefit From Using A Credit Card

by Pam on August 21, 2013

the smart way to use your credit cardAre credit cards really that bad? Will you go deep into debt just by using them? Well, it all depends but if you use credit cards right, then you will actually benefit from them. Many credit card users think they are just for emergencies but that is not really the case. The truth is that credit cards can be used for many different things and one of those things will really help you save money and actually come out ahead for using them.  Below are some tips on how to benefit from using a credit card:

Use A Rewards Card – The best part about a rewards card is that they give you things back. For instance, you can get a rewards card that will give you a credit for every dollar you spend. These are the rewards cards that you need as they will give you a reason to spend with them. Just know that when you do use your credit card you need to quickly pay the balance off so that you can keep spending on it. One thing that many smart credit card users do is they pay with their credit card and at the end of the week they will pay that amount off. This works as long as you stick to this plan.

Another great rewards card is an Air Miles card. The best part about an Air Miles card is that they give you miles for every dollar that you spend. For people who would rather travel than have money given back to them, this is the card for you. Just know that some air miles expire after a certain amount of time.

Pay It Off – You will never be able to benefit from a credit card if you always have to worry about a balance on it. It is because of this that you need to pay off your credit card as soon as possible. My advice is to pay off your credit card in the first month before you are charged any interest but if that is not possible, then make sure you pay it off within the first 2 months. If you can’t pay off your credit card within 2 months of making the purchase, then you are spending too much and you need to stop using your credit card and find an alternative method such as using debit or paying with cash for everything.
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credit card fraud prevention tipsCredit card fraud has gotten more prevalent in the past several years. It used to be a lot more difficult before, when stealing credit card information required actual possession of the card. However, today, virtual access is sufficient in order for the financial identity and security of a person to be compromised.

Child credit fraud with lost cards has been rather common as well. One may think that children are not going to be affected. The reality, however, is that they are in fact more susceptible than anyone else. According to researchers at the Carnegie Mellon University, while less than one percent of adults were victims of identity theft in a year, 10% of children were victims of the crime.

Then again, although the number may appear small for the adults as compared to the children, it does not mean that the adults are any safer. Having one’s identity stolen can occur in a variety of ways:

1      Lost cards id theft

2      Phishing/ skimming

3      Credit scams

4      Social network exposure

5      Social Security number
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5 Credit Card Debt Management Tips

by Leon on March 20, 2013

credit card debt management helpFalling into the credit card debt trap is all too easy in the world today. Many companies advertise their credit cards as the ultimate solution to your financial struggle, but reckless use of credit can dig you into a deeper hole than ever before. Use your credit wisely, and don’t let it control your life. These credit card debt management tips will help you take back control of your finances, one step at a time.

Go Above the Minimum Payment
Every credit card comes with a minimum required monthly payment to which you agree when you sign your contract. Monthly payments are usually relatively low, allowing you repay your debts at an easy pace. However, that easy pace leads to quick accumulation of debt. If you want to keep your debt under control, one of the best things you can do is go above the minimum monthly payment. Even if it’s just a few dollars above the minimum, you’ll be making faster progress on eliminating your debt and returning balance to your finances.
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should I consolidate my credit card debtThe general consensus these days is that carrying debt on multiple credit cards is a big no-no. In fact, having several credit cards tends to be a bad idea for most people most of the time, simply because we are raised with a consumer mentality that urges us to continue spending even if we are living beyond our means. Further, we are usually not well trained in how to budget, plan, save, or otherwise manage our finances, making it easy to get into debt but much harder to dig our way out. And while credit cards will certainly try to entice you with hooks like zero interest payments for the first year, extra discounts at the stores for which you hold particular cards, or reward programs that deliver discount or free travel with points, the truth is that all of them encourage you to spend your money before you’ve even earned it. So while it’s definitely a good idea to have a card on hand for emergency situations, a multitude of cards could get you into hot water rather quickly, especially if you’re not particularly good at controlling your urge to splurge.

This brings us back to the question of whether or not to consolidate debt, and generally speaking, debt consolidation is an excellent idea for a number of reasons. For one thing, you’re bound to have certain credit cards that come with much lower interest rates. So transferring debt from a card with a higher rate will help you to save on your interest payments in the long run. As a bonus, once you have transferred all of the debt off the card with less attractive options you can cancel the account and cut up your card, alleviating the temptation to use it in the future. In addition to paying down your debt faster as a means of ditching the cards that charge greater interest, you might also want to plan to get rid of the cards with the highest limits. If you have a problem controlling your spending, a lower limit is bound to get you into less trouble.
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credit card applicationHave you been looking to get a credit card? If so, you’re certainly not alone. Each year, credit card companies make millions and millions of dollars due to the astronomical amount of people who have one of their cards. In some ways, a credit card can make life more convenient when it comes to booking reservations and making large purchases. Plus, if you have a good payment history, it can do wonders when it comes to boosting up your credit (that is if you use it responsibly).

For these reasons, it could be wise to apply for a credit card. However, before you do, we wanted to provide you with five of the most common reasons why credit card applications are denied, just so that you can be prepared ahead of time:

You didn’t complete the application. In school, some of us were told that we could get a few points just for making sure we put our name on the top of our papers. It was partially to prepare us for filling out things like credit card applications. When vital information is missing, you will definitely be denied. Just something to keep in mind.
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The Benefits And Dangers Of A Student Credit Card

by Guest on September 21, 2012

The Pros And Cons Of A Student Credit Card

There are plenty of ways that a student could benefit from obtaining a student credit card. It is a great way to begin learning how to properly budget your finances to avoid debt. At the same time, debt may be the very reason a student would want to avoid a credit card. It is known that many credit card companies wish to provide cards to student with the understanding that they would use it irresponsibly. That may not sound beneficial for the credit card company, but the truth is that a card user in debt is worth more to the credit card company than someone who pays their monthly amount without hesitation. The credit industry is very different than it once was.
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