Being in love, you have got some sweet dreams and thoughts. You make plans about your house, garden, children, and so on. But couples usually avoid talks about finances, credit card deals, and bills.
Do you know that more than 35% of couples aren't ready to share their financial secrets? A recent survey held by Engage Mutual has found that most couples wouldn't like to discuss problems like credit bills and the amount of credit card spendings.
Going to start living with your loved one, you face this problem anyway. Habits of your mate including financial ones have a great impact on the relationships.
According to that research, couples have many financial secrets. Interestingly, those who have children hide their credit card debt more often than couples without kids.
Married cardholders hide the truth about their finances much more often in comparison with the other couples. It is oddly enough. Also men are not so secretive about their financial situation, while more than 40% of working women hide their credit debts compared to 22% of men.
So, what financial secrets couples are not likely to share? Firstly, it is the cost of luxury items. More than 40% of those surveyed point this problem out. About 30% of cardholders keep a secret of their credit card bills and statements. And 33% admit that they have secret money savings.
Perhaps, the problem is that people treat plastics in different ways. For some, one credit card is quite enough, while the others can't live without a bunch of cash back plastics. Though the subject seems so delicate, it's very essential to take steps towards the solution of this problem.
Follow these steps to prevent problems associated with credit card matters:
• Try to find out how your mate feels about money matters and credit cards. Financial habits of you dear one is of great importance for your future.
• Talk about money. Still, it's not so difficult as it seems. Speak out your current ideas about credit card fees, and rates. If you carry a rewards credit card, you may discuss with your partner the way you are going to redeem the points.
• Consult with your partner before making credit card purchases. No need to tell about everything, but you can discuss the purchase of some big ticket item together.
• Join or separate credit accounts. This point is a big step that means a lot for both of you. You may think about joint account if your partner's credit score is more favorable than yours.
Showing posts with label Credit. Show all posts
Showing posts with label Credit. Show all posts
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Credit
The Enticing Trap Of Credit Card Debt
It has never been easier for people to live well beyond their means than it is today. Credit is easy to obtain, and in a society obsessed with material gain, credit is sought and used on a basis that is so regular even financial watchdogs are beginning to sound warning bells. The average savings for the United States and Canada over the next few years are actually expected to go into the negative figures, as more people purchase what they cannot afford.
One of the main contributors to this phenomenon is the credit card. Credit cards are very easy to obtain, and most people get them thinking they will be handy in an emergency. This is the case, but what the credit card companies know is that it will not be long before you use that piece of plastic to make a purchase that is certainly not in an emergency situation.
One way that credit cards have succeeded in getting a flood of people to spend beyond their means is to make credit cards available everywhere. The rise of the Internet has fueled a massive increase in the use of credit cards, as it is often the sole means people have to make an online purchase. Anytime you make a credit card purchase, however, there is the chance that you will forget about it. Statements that come out once a month are a great way for credit card companies to make sure their customers rack up the bills to the point where they will not be able to pay them all off in one shot, and thus gain the hefty interest.
Credit card companies also use promotional gimmicks to entice customers to charge all of their purchases on their cards. Most credit card companies have teamed up with auto dealers or some other company in order to give customers points towards future purchases. Visa has the well-advertised "Win What You Buy" campaign. People can be so tempted by this that they place all their purchases in the Visa in the hopes of getting it all for free. The prize, however, is rarer than winning the lottery.
Staying out of credit card debt requires using that piece of plastic frugally. If you don't have the money in the bank to make the purchase, do not do so with your credit card - it will only cost you more money in the end. If you do encounter an emergency and have to make a payment on your card, pay it off as soon as possible. If you can't do this, look into getting a line of credit from the bank. This may seem like "stealing from Peter to pay Paul", but banks often offer a lower interest rate than a credit card, and the advantage of a line of credit is that banks automatically deduct an amount every month out of your other accounts toward your debt. Credit card companies are just as happy to have that debt grow and grow.
One of the main contributors to this phenomenon is the credit card. Credit cards are very easy to obtain, and most people get them thinking they will be handy in an emergency. This is the case, but what the credit card companies know is that it will not be long before you use that piece of plastic to make a purchase that is certainly not in an emergency situation.
One way that credit cards have succeeded in getting a flood of people to spend beyond their means is to make credit cards available everywhere. The rise of the Internet has fueled a massive increase in the use of credit cards, as it is often the sole means people have to make an online purchase. Anytime you make a credit card purchase, however, there is the chance that you will forget about it. Statements that come out once a month are a great way for credit card companies to make sure their customers rack up the bills to the point where they will not be able to pay them all off in one shot, and thus gain the hefty interest.
Credit card companies also use promotional gimmicks to entice customers to charge all of their purchases on their cards. Most credit card companies have teamed up with auto dealers or some other company in order to give customers points towards future purchases. Visa has the well-advertised "Win What You Buy" campaign. People can be so tempted by this that they place all their purchases in the Visa in the hopes of getting it all for free. The prize, however, is rarer than winning the lottery.
Staying out of credit card debt requires using that piece of plastic frugally. If you don't have the money in the bank to make the purchase, do not do so with your credit card - it will only cost you more money in the end. If you do encounter an emergency and have to make a payment on your card, pay it off as soon as possible. If you can't do this, look into getting a line of credit from the bank. This may seem like "stealing from Peter to pay Paul", but banks often offer a lower interest rate than a credit card, and the advantage of a line of credit is that banks automatically deduct an amount every month out of your other accounts toward your debt. Credit card companies are just as happy to have that debt grow and grow.
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Credit
Gas Credit Card Or Gas Reward Credit Card?
With modern day living and our dependence on mobility, buying gasoline for your car is a necessity. Aside from the grocery store, your single largest weekly expense is more than likely what you put into your gas tank.
Let's face it, those gasoline prices are going no way but up!
If you're one of those people who's heart begins to skip-a-beat each time you go to fill your automobile's gas tank, perhaps it's time to look at the new gas credit card offers available. Gas credit cards are brand specific, but the savings percentage is higher than a gas reward credit card and most have no annual fee. If that particular gasoline company has a station near you, a gas credit card might be the right credit card for you.
The gas reward credit card may be more convenient for those who like to shop around for the best priced gasoline. The Discover Platinum Gas Card has the same reward features of Discover's other reward programs with the added bonus of 5% cash back on your first $1200 in gasoline purchases for the first twelve months you have the card. If you're planning a driving trip this summer, this would save you a great deal of money to use for those souvenirs.
The type of rewards given for the gas credit card and the gas reward credit card vary in that they are given either in the form of a cash back check or a gift card for specific merchandise. You should review the card issuer's form of rebate before you apply for a new card.
A gas credit card or a gas reward credit card can save you money. Use the ease of the internet to compare credit card offers and pick the card that will work best for you.
Let's face it, those gasoline prices are going no way but up!
If you're one of those people who's heart begins to skip-a-beat each time you go to fill your automobile's gas tank, perhaps it's time to look at the new gas credit card offers available. Gas credit cards are brand specific, but the savings percentage is higher than a gas reward credit card and most have no annual fee. If that particular gasoline company has a station near you, a gas credit card might be the right credit card for you.
The gas reward credit card may be more convenient for those who like to shop around for the best priced gasoline. The Discover Platinum Gas Card has the same reward features of Discover's other reward programs with the added bonus of 5% cash back on your first $1200 in gasoline purchases for the first twelve months you have the card. If you're planning a driving trip this summer, this would save you a great deal of money to use for those souvenirs.
The type of rewards given for the gas credit card and the gas reward credit card vary in that they are given either in the form of a cash back check or a gift card for specific merchandise. You should review the card issuer's form of rebate before you apply for a new card.
A gas credit card or a gas reward credit card can save you money. Use the ease of the internet to compare credit card offers and pick the card that will work best for you.
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Credit
Do You Have Too Many Credit Cards?
How many credit cards do you have? If you are like most people it is probably too many.
We've all been lured in by the siren call of better rates, special perks and rewards, or lower fees so that most Americans carry between five and 10 credit cards. The problem is not so much that new credit card offers are so attractive but rather that we do not stop to evaluate which cards we no longer need after opening a new account.
Carrying too many credit cards can wreak havoc with your credit score -- especially if you use too much of your available credit. Of course that leads to an important question -- how many credit cards should you have? Most experts say there really isn't a magic number. It is really more about proportion. Each person, household, or business, should evaluate spending and payment habits. It is important to note that once you start holding a number of credit accounts then your credit report will be impacted simply because you are now at greater risk of racking up debt that you can't handle.
Of course, it does depend somewhat on the type of card and the amount of credit involved. Store credit cards are notorious for impacting your credit negatively. In fact some consumer experts report that every time you open a store credit card, 20 points are taken off your credit score.
So how do you judge whether or not you have too many credit cards? The average person carries 11 "credit accounts" of varying types. Typically, seven are different types of credit cards and four are installment loans for cars, furniture, student loans or mortgages. Most people do not need seven credit cards. Usually two or three is more than sufficient.
Perhaps one will be a store credit card for a merchant that you shop frequently and that will make you eligible for savings and bonuses and another will be one of the major credit cards such as Visa, MasterCard, American Express or Discover that is accepted anywhere.
If you cannot maintain a low or zero balance on your credit cards then you have too many. Most people do need a credit card for emergencies so holding a low interest card can be a help with your personal finances but holding a number of cards that regularly add interest and other fees to your monthly budget is no bargain.
An important rule of thumb to remember is to keep your debt ratio under 50%. If your credit card has a $5,000 limit, don't carry a balance of more than $2,500. Creditors don't like to see a card almost maxed out because it makes you look like a risk who has trouble paying off debt.
The best way to protect your credit is to keep only a reasonable number of credit cards. A reasonable number is determined by your ability to maintain a low balance and make your payments on time. Ideally you should use less than 30% of your credit limit on each card. However, use caution when trimming down the number of credit cards. Some debt advisers warn that closing too many cards at once can cause your debt-to-credit ratio to fall.
For example, if you have $20,000 of potential credit and a $5,000 balance, you are using 25% of your potential. If you shut down a card with a $5,000 balance you will still have $5,000 of debt and only $15,000 of potential, upping your ratio to 33%. It is better to close excess accounts over several months (as you also pay down your balances). Also, don't close all your oldest accounts if you find abetter card. A long, successful credit history will do much to improve your credit rating so maintaining some older accounts until your more recent accounts age is a good idea.
If used appropriately, credit cards are a safe way to buy goods because they offer protection against fraud that checks and cash can't guarantee, especially when it comes to return policies or fraudulent purchases. However it is up to the account holder to use that credit cautiously. Maintaining fewer accounts means less chance of late fees and increased rates. Having more credit and more credit cards does not necessarily make a good rating. The key factors are job stability, paying as agreed and paying on time. Keeping up with payments on a few cards will build a better credit rating than opening numerous credit-card accounts.
There is no right number of credit cards for everyone. It depends on how much you spend and how much you can pay off. The key idea is to maintain a sense of proportion.
We've all been lured in by the siren call of better rates, special perks and rewards, or lower fees so that most Americans carry between five and 10 credit cards. The problem is not so much that new credit card offers are so attractive but rather that we do not stop to evaluate which cards we no longer need after opening a new account.
Carrying too many credit cards can wreak havoc with your credit score -- especially if you use too much of your available credit. Of course that leads to an important question -- how many credit cards should you have? Most experts say there really isn't a magic number. It is really more about proportion. Each person, household, or business, should evaluate spending and payment habits. It is important to note that once you start holding a number of credit accounts then your credit report will be impacted simply because you are now at greater risk of racking up debt that you can't handle.
Of course, it does depend somewhat on the type of card and the amount of credit involved. Store credit cards are notorious for impacting your credit negatively. In fact some consumer experts report that every time you open a store credit card, 20 points are taken off your credit score.
So how do you judge whether or not you have too many credit cards? The average person carries 11 "credit accounts" of varying types. Typically, seven are different types of credit cards and four are installment loans for cars, furniture, student loans or mortgages. Most people do not need seven credit cards. Usually two or three is more than sufficient.
Perhaps one will be a store credit card for a merchant that you shop frequently and that will make you eligible for savings and bonuses and another will be one of the major credit cards such as Visa, MasterCard, American Express or Discover that is accepted anywhere.
If you cannot maintain a low or zero balance on your credit cards then you have too many. Most people do need a credit card for emergencies so holding a low interest card can be a help with your personal finances but holding a number of cards that regularly add interest and other fees to your monthly budget is no bargain.
An important rule of thumb to remember is to keep your debt ratio under 50%. If your credit card has a $5,000 limit, don't carry a balance of more than $2,500. Creditors don't like to see a card almost maxed out because it makes you look like a risk who has trouble paying off debt.
The best way to protect your credit is to keep only a reasonable number of credit cards. A reasonable number is determined by your ability to maintain a low balance and make your payments on time. Ideally you should use less than 30% of your credit limit on each card. However, use caution when trimming down the number of credit cards. Some debt advisers warn that closing too many cards at once can cause your debt-to-credit ratio to fall.
For example, if you have $20,000 of potential credit and a $5,000 balance, you are using 25% of your potential. If you shut down a card with a $5,000 balance you will still have $5,000 of debt and only $15,000 of potential, upping your ratio to 33%. It is better to close excess accounts over several months (as you also pay down your balances). Also, don't close all your oldest accounts if you find abetter card. A long, successful credit history will do much to improve your credit rating so maintaining some older accounts until your more recent accounts age is a good idea.
If used appropriately, credit cards are a safe way to buy goods because they offer protection against fraud that checks and cash can't guarantee, especially when it comes to return policies or fraudulent purchases. However it is up to the account holder to use that credit cautiously. Maintaining fewer accounts means less chance of late fees and increased rates. Having more credit and more credit cards does not necessarily make a good rating. The key factors are job stability, paying as agreed and paying on time. Keeping up with payments on a few cards will build a better credit rating than opening numerous credit-card accounts.
There is no right number of credit cards for everyone. It depends on how much you spend and how much you can pay off. The key idea is to maintain a sense of proportion.
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Credit
Avoiding Credit Card Penalties
It is a sad fact of life that credit card companies are very willing and fast to slap a penalty charge on your account for every mistake, delay and slip up you cause, immediately and without a second thought. These penalty charges can amount to millions of dollars taken from consumers each month. They are a necessary part of all credit card operations and are fair in the sense that it means that customers who do everything correctly and on time are not penalised for the extra work and expense that other customers cause, but what you will want to do is make sure you are not one of the unlucky customers that is paying for these extra expenses.
The best way to avoid these penalties is to look at the entire situation from the point of view of the credit card company. Really, all they want from you is to keep your card safe, to stay within your credit limit, and to make at least your minimum payment, on time every month. If you manage to do these simple tasks you will avoid ever incurring a penalty on your account.
The problem is that it is very easy to slip up on these things. It's not easy at all to keep track of your outstanding balance, especially as we use credit cards for more and more things and companies begin placing holds and other such transactions on customers accounts without them necessarily knowing or understanding about them. Then there is the fact that it is very easy to forget or become late on a payment. Every one has busy periods in their life and sometimes we simply have other more important things on our minds than paying our credit card bill on time. Some people are less organised than others and for them it can be very difficult making sure all their credit cards are paid out in full and on time.
If your card is lost or stolen without any fault on your part, and you call your credit card company as soon as you find out, you will only be liable for a maximum of $50 dollars. And if you manage to let the credit card company know before any thing has been spend on your stolen card you will not be liable for any thing. This is also the rule that applies for identity theft and fraud so you can feel safe using your credit card online. Taking a few simple steps can mean you are virtually never subjected to credit card penalties.
The best way to avoid these penalties is to look at the entire situation from the point of view of the credit card company. Really, all they want from you is to keep your card safe, to stay within your credit limit, and to make at least your minimum payment, on time every month. If you manage to do these simple tasks you will avoid ever incurring a penalty on your account.
The problem is that it is very easy to slip up on these things. It's not easy at all to keep track of your outstanding balance, especially as we use credit cards for more and more things and companies begin placing holds and other such transactions on customers accounts without them necessarily knowing or understanding about them. Then there is the fact that it is very easy to forget or become late on a payment. Every one has busy periods in their life and sometimes we simply have other more important things on our minds than paying our credit card bill on time. Some people are less organised than others and for them it can be very difficult making sure all their credit cards are paid out in full and on time.
If your card is lost or stolen without any fault on your part, and you call your credit card company as soon as you find out, you will only be liable for a maximum of $50 dollars. And if you manage to let the credit card company know before any thing has been spend on your stolen card you will not be liable for any thing. This is also the rule that applies for identity theft and fraud so you can feel safe using your credit card online. Taking a few simple steps can mean you are virtually never subjected to credit card penalties.
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Credit
Pay for Your Vacation with Groceries
While you are standing in line to pay for your groceries, after spending all day at work, does your mind drift off to the last vacation that you took? Was it a flight to sunny Florida, or maybe a trip to the Rocky Mountains? United Airlines would like you to be able to schedule more of these trips without an additional drain on your pocketbook. To do so, they are offering the United Mileage Plus Platinum Visa Card.
Once you apply for the United Mileage Plus Platinum Visa Card, you are credited with 20,000 bonus miles as soon as you make your first purchase with it. Every single time you stand in line at the grocery store, and use your United Mileage Plus Platinum Visa Card, you add 2 bonus miles for every $1 that you spend at the store. You also earn 2 miles for every $1 that you spend at the gas station and at home improvement stores. You also earn 2 miles for every $1 that you spend when you are really tired at the end of the workday and decide to take your family out to a restaurant. And, if thinking about a vacation makes you run out and purchase an airline ticket immediately, you also earn 2 bonus miles for every $1 spent with United Airlines or Star Alliance Airlines. As with most credit cards with rebates, you always earn 1 bonus mile for every $1 that you spend for any other purchase put on the credit card.
In addition to regular bonus miles, you also earn Elite miles when using the United Mileage Plus Platinum Visa Card. You earn 5000 Elite miles after the first purchase on the card, 5000 Elite miles when you have spent a total of $35K on the card, and up to 5000 Elite miles for every airline trip on United or Star Alliance purchased with the United Mileage Plus Platinum Visa Card.
Also, as a courtesy to United Mileage Plus Platinum Visa Card cardholders, United Airlines offers a free round trip on the anniversary date. They also offer free upgrade certificates. So, when you book a trip on United, you can upgrade your ticket for either the outbound or return trip, and enjoy a little more luxury than your normal travel experience. This will be a very nice memory. United Airlines will also give cardholders a $25 travel certificate.
So, buy your groceries, close your eyes, and imagine yourself in comfort flying to a wonderful destination. Next time, buy your groceries with the United Mileage Plus Platinum Visa Card, and start getting bonus miles to actually take your trip!
Once you apply for the United Mileage Plus Platinum Visa Card, you are credited with 20,000 bonus miles as soon as you make your first purchase with it. Every single time you stand in line at the grocery store, and use your United Mileage Plus Platinum Visa Card, you add 2 bonus miles for every $1 that you spend at the store. You also earn 2 miles for every $1 that you spend at the gas station and at home improvement stores. You also earn 2 miles for every $1 that you spend when you are really tired at the end of the workday and decide to take your family out to a restaurant. And, if thinking about a vacation makes you run out and purchase an airline ticket immediately, you also earn 2 bonus miles for every $1 spent with United Airlines or Star Alliance Airlines. As with most credit cards with rebates, you always earn 1 bonus mile for every $1 that you spend for any other purchase put on the credit card.
In addition to regular bonus miles, you also earn Elite miles when using the United Mileage Plus Platinum Visa Card. You earn 5000 Elite miles after the first purchase on the card, 5000 Elite miles when you have spent a total of $35K on the card, and up to 5000 Elite miles for every airline trip on United or Star Alliance purchased with the United Mileage Plus Platinum Visa Card.
Also, as a courtesy to United Mileage Plus Platinum Visa Card cardholders, United Airlines offers a free round trip on the anniversary date. They also offer free upgrade certificates. So, when you book a trip on United, you can upgrade your ticket for either the outbound or return trip, and enjoy a little more luxury than your normal travel experience. This will be a very nice memory. United Airlines will also give cardholders a $25 travel certificate.
So, buy your groceries, close your eyes, and imagine yourself in comfort flying to a wonderful destination. Next time, buy your groceries with the United Mileage Plus Platinum Visa Card, and start getting bonus miles to actually take your trip!
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