Credit Cards Tips for You

If you have ever thought about applying for a credit card then you will no doubt have at least heard of 0% balance transfer credit cards. This is a popular type of card but can be a little bit confusing if you are not familiar with the concept of balance transfers. Read on to find out more.

Most credit card companies offer at least one type of 0% balance transfer card, but most offer a few variations on it – often with other, added benefits or rewards. This could include an initial interest free purchase period, or benefits such as discount schemes, depending on the specific card you choose.

0% balance transfer credit cards essentially do what their name suggests: they allow you to transfer a balance from somewhere else (an existing credit card, for example) and then give you a period in which to pay it off at a 0% rate of interest. The act of transferring the balance pays off the original creditor, so it can be a useful way of consolidating what you owe onto one card.

As well as balance transfers, this type of card also comes with the benefit of 0% money transfers (from your card to your bank). Y Read more…

The Slate from Chase credit cards are known for their debt management tools and other helpful resources that can assist cardholders in reducing credit card debt through responsible financial awareness and smart budgeting practices.

With all the various Slate credit cards, new card members can receive a really attractive introductory 0% APR for between 12 months to 15 months. Additionally, cardholders are also free from paying an annual fee.

The Slate from Chase cards give cardholders the ability to transfer high-interest balances from other cards over to their new Slate account. Allowing cardholders to get their debts under control via lower monthly payments and no interest for a whole year. In most cases the transfer fees are nominal and much lower than other credit cards.

However, the cornerstone to the Slate cards is the revolutionary “Blueprint” program, which provides four strategic tools to pay off (as well as manage) your credit card balance. Thi

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When a shopping experience goes wrong – a retailer goes bust or disappears without delivering your goods – it can pay to have paid on plastic. Purchases made on credit cards and debit cards have protections that are not available if you pay with cash. These apply whether the purchases are goods or services.

Photograph: Alan Schein Photography

If you have a problem with a purchase made by credit card or via a credit agreement offered by a retailer, you may be protected under section 75 of the Consumer Credit Act. This makes the credit provider jointly liable with the retailer for anything you buy, provided the item costs between £100 and £30,000.

The protection covers undelivered and faulty goods, and services such as flights, if the retailer goes out of business or disappears. It ap

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Dear Creditnet: I know that my credit utilization ratio makes up a large part of my FICO credit score.  I’ve also read that it’s important to keep my ratio under 30%, or preferably at 10% or less.

My question is would it be better to keep my credit utilization ratio at 0% or 10%?  If I pay my balance off every week and my credit utilization is reported at 0%, is that hurting my FICO scores?

Answer: A 0% credit utilization ratio certainly isn’t hurting your FICO scores. Technically, it’s the best credit utilization ratio you can achieve, which means it should also translate to the best possible FICO credit scores.

However, even if you never carry balances on your credit cards, a 0% utilization ratio can be difficult to achieve.  Credit issuers all report balances at different times each month, which means keeping track of when your balances are reported and trying to pay them off in advance can become quite tricky for many cardholders.

If you have just one card and wish to pay it off each week in order to keep your available credit as high as possible, keep doing it.  Your FICO

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Living with poor credit conditions make things worse and more expensive too. It not only hampers your prospects of obtaining a new credit with better terms and conditions but it also makes purchase of many financial products and services more costly. For instance, if you are willing to purchase a car insurance policy but have poor credit record, the car insurer will charge more premium amount from you. Again, if you are purchasing brand new utilities, the utility provider will scrutinize your credit history and then decide upon whether you have to make any security deposit. The credit card issuer or a loan provider will check your credit history before sanctioning you a credit card or a loan. Given these, it is important to have the necessary credit repair strategy in place.

Good credit is very important in accumulating money through loans, insurance and credit cards. But that is not the single reason to maintain a good credit. A good credit score can have several other benefits too. Read more…

Chase unveiled a revised summary guide for Chase Total Checking that makes its terms and conditions easier to understand for consumers. Chase collaborated with the Pew Health Group’s Safe Checking in the Electronic Age Project to develop a simple disclosure form that uses everyday words in a consumer-friendly format. Consumers can now more plainly see a description of fees and services, how to avoid certain fees, when deposits are available, and the order in which withdrawals and deposits are processed. Chase also is eliminating account closing fees to simplify and enhance the customer experience.