The best way to save a credit card
Credit card fraud is one of the most common ways to steal from another person.
You should be always aware of this crime in order for you to avoid it. Committing credit card fraud is very common because it is very easy to do and can be very hard to trace.
The reason why credit card fraud is so easy to do is simply because almost everyone has a credit card and more than half of all the credit card holders use them everyday.
By just letting someone know about your credit card information, you will be vulnerable to this particular crime. You have to consider that there are a lot of ways that someone can gain access to your credit card information and eventually use it to steal from you.
If you use your credit card on a daily basis or on a regular basis, you will be more vulnerable to this crime because you will always be giving out your credit card information.
One of the ways to minimize the risk of credit card fraud is by keeping your receipts in a safe place.
Another way to protect yourself from this crime is by tearing up documents which contains your credit card information that you no longer need.
Another way that someone can obtain your credit card information is by using the telephone. There will be a chance that someone will call you and inform you that they are from your bank and ask about your credit card information.
Don’t just give out your credit card information. You have to decline first and call your bank if they are indeed calling you about your credit card information.
It is important that you should remember that you should never give out your credit card information through the telephone.
If you feel that you are already being victimized by this kind of crime, it is wise that you should thoroughly check your credit card billing statement.
If you think there are some suspicious activities going on, you should report it immediately to the concerned people, like your credit card company or the bank.
Catching this early will enable you to minimize the risk of getting victimized again. Therefore, whenever there is a billing statement, it is always wise to thoroughly check it in order to make sure that you are not being victimized by this crime.
The most common way for someone to commit credit card fraud is by stealing your credit card. To help you minimize the risk of being victimized, you should call the credit card company immediately if in case you lost your credit card.
They can render the credit card useless. If you do find your missing credit card, you can always reactivate your credit card account.
Another great way to protect yourself from credit card fraud is by purchasing a credit card fraud protection plan.
Most credit card companies today offer this kind of plan to help you protect yourself from this serious offense. It may cost a few dollars but it is definitely better than having no protection at all.
It is important that you should remember all these things in order for you to protect yourself from this serious crime.
Always remember that by just following the above-mentioned tips, you can minimize the risk of being victimized by credit card fraud.
Save Money Using A Credit Card
If you are a conscious and energetic saver, then you have most probably been told that credit cards are bad and evil things that you need to stay well away from!
However, used the right way, a credit card can be a great way to save money! So, how can you save money by using a credit card?
Let the interest work for you
As we all know, credit card companies make a profit by charging their users interest. But, the interest that credit card companies charge is only charged if the credit card holder – you – doesn’t pay their credit card bill in full each time; deciding, instead, to pay in installments.
Nonetheless, pay your credit card bill in full each time and not only are you not charged interest for using the credit card, but you can also get up to 2 months credit free interest.
This happens because the credit card company is normally required to give you 28 days after your statement date in order to pay your credit card bill.
However, if you buy your product shortly after a credit card statement date, you can get nearly another month’s interest free credit while you are waiting for the credit card statement to arrive.
As a result, if you are a good and conscious saver, what you can do is open a savings account and every time you make a payment on your credit card, you transfer the money you would have spent on the purchase to the savings account.
Then, on the credit card statement due date, you transfer the money from the savings account to pay the credit card bill. In the meantime, the interest that has accrued on that money while you were waiting for the credit card bill is all yours!
Using the loyalty bonus scheme
Aside from making sure you pay off your credit card bill in full each month, another way you can use a credit card to save you money is to apply for a credit card that has a loyalty bonus award scheme.
Then, after you have reached the required number of loyalty bonus scheme points, you can use those points to purchase something you would otherwise have had to pay good money for.
So, now that you don’t have to pay good money for the product you just got from the loyalty bonus points, you can transfer the purchase price of the product to your savings account – and you’ve just saved yourself some more money!
Keep in mind, however, that to maximize your credit card savings potential, you really need to apply for a credit card that doesn’t charge you any annual membership fee or have any other additional hidden fees.
Provided you have this in place, a credit card can be a really great way for you to save money
Things That A Credit Card Cannot Do For You
Credit cards are one of the best financial tools you can have, but they can also be dangerous and leave you with lots of debt.
If you are thinking about getting a credit card, then it important that you know the downsides as well as the benefits.
This will help you to use your credit card more wisely and avoid getting into debt. Here is some advice what a credit card cannot do for you.
It cannot make you richer
Although having a credit card will improve your cash flow and financial independence, it does not make you richer.
Many people who get into credit card debt do so because they see their credit limit as their own money. In fact, that credit limit is simply the amount that you can borrow from your card issuer.
Instead of making you richer, every time you spend on your card you are pushing yourself into debt. The only way to stay out of this debt is to make sure you can afford to pay back what you spend.
It cannot stop your debt problems
Many people get hold of credit cards because they think a credit card will help them solve their current debt problems. If you are spending more than your income then using a credit card is not a good idea.
Credit cards are an expensive form of borrowing, and charging things to a card will delay your problems and put you further into debt.
If you are having problems with debt then consult a debt counsellor who can help you find the best way to manage your problems.
It cannot save you money
Although credit cards are a great convenience and can help you to buy purchases beyond your immediate means, credit cards don’t usually save you money.
For example, if you decide to buy something on credit in the sale and pay for it over time, the interest payments will usually cost you more than the saving you made on the item.
Credit cards usually cost you money rather than save you money. Also, the interest that you pay and the fees that you are subject to outweigh the rewards that you are usually offered on credit cards.
So why get credit cards?
Although credit cards can put you into debt and can be dangerous, if you are sensible and know about the risks they can be of great use.
Credit cards are much more secure than using cash or cheques, and allow you to shop online where you really can save money.
Also, carrying around a card is a lot more convenient than carrying around large sums of money, especially if you are travelling abroad. Furthermore, a credit card allows you to buy items that you can afford, just not all in one go.
Although saving up for expensive items is more sensible, this is not always possible and credit cards allow you more freedom to spend.
If you can try and pay the balance off in full each month, then you will get the most out of your credit card and avoid the things that credit cards cannot help you with.
Gas Credit Cards – Are They For Me?
Everybody in today’s age drives a car and if you like to save money, you might want to look to other alternative ways to save on gasoline. One of the greatest ways to save on gas that most people pass up is gas credit cards.
A lot of companies such as VISA and MasterCard offer gas credit cards that solely focus on you, the consumer on saving money at the pump.
How do these credit cards work you might ask? You will find that gas stations such as Speedway, BP, and others will issue out credit cards for the consumer that are tied in with a bigger credit card company such as VISA or MasterCard.
You’ll find that most of them you can use anywhere these major cards are accepted. This ensures you that you will be able to use it at many other places, not just the gas station.
A gas credit card concept is actually quite simple. A credit card company will usually have a bonus rate for the first few months as an intro period.
This rate can be anywhere from 1% to 10%. This can add up quickly if you pump up a lot. One thing you should look out for though is a cap. Some cards only allow you to fill up with so much gas per month.
Some cards also have other restrictions that may cause you to not save the money you want to. It’s important that you review these restrictions before applying.
Are the rebates usually good? The rebates generally range anywhere from 1% to 10% like mentioned above. If you really think about it, you would have never been saving this money before you applied for a card. Even 1% adds up over the long run.
You will find that credit cards that are focused on one gas station will offer the best rate. A majority of the other gas cards will allow you to not only save money on gas but other products such as grocery shopping and more.
Now that I know how the rebates work, how are they paid out? Every credit card company differs. Once again you should refer to the restrictions to get a good feel on how they work.
A majority of the time, you will see a credit on your balance when you receive your bill in the mail. Over the year, you will be able to see exactly how much you saved over the long run.
If your rebate runs in the 4% area, every $100 you spend on gas means you’re saving $4! It doesn’t sound like a whole lot but it’s better than nothing.
If you don’t want a credit card that focuses solely on gasoline, you can still find a credit card that fits your needs. A lot of the credit cards that do offer gas rebates offer other rebates like mentioned above.
So not only can you save on gas, you’ll be able to save on clothing, groceries, and more. If you drive everyday and you’re paying full price, stop and apply for a credit card today!
How to Save Money With a Credit Card Balance Transfer
Would you like to know how a credit card balance transfer can save you hundreds of dollars from your credit card bills?
Do you currently have trouble keeping up with your credit card balances? If yes, then a balance transfer may just be what you need.
Getting a Balance Transfer Credit Card
What is a Balance Transfer credit card and how is it different from standard credit cards in the market? If you try to shop around for credit cards, you’ll notice that some credit cards offer 0% APR as part of their introductory offer.
The 0% interest rate will usually apply on purchases but if you take a look closely at your choices, you’ll find credit cards that offer 0% rate on balance transfers. If you’re lucky, you can even find a credit card that offers 0% APR for both purchases and balance transfers.
Why should you take advantage of 0% balance transfer credit cards? Carrying over your balances with each billing cycle increases your debt due to additional interest fees. With balance transfer credit card, you can focus on paying your original charges without the interest.
Do the math, and you’ll realize how much you can save from the interest rates alone on your existing balances.
Finding the Right Balance Transfer Credit Card
Does this mean that all balance transfer credit cards are right for you? Take note that different credit card issuers also provide a variety of terms and conditions. Naturally, you’ll want to go with a company that will give you the best deals.
For instance, how long will the 0% introductory period last? Never forget that the zero interest offer is just a temporary option.
Some companies offer as little as three months while others offer up to a year or more. Ideally, enjoying at least 12 months of 0% interest offer should give you enough time to repay your balances completely.
How much is the interest rate after the introductory period? Will the interest rate still be reasonable when the introductory offer ends or will it soar high? It’s best to choose a card that will still give you a reasonably low interest even after the 0% APR expires.
How much is the interest on purchases? If the 0% APR is limited to balance transfers alone, how much will the interest be on your charges?
If the interest on purchases will be expensive, you may want to consider using this particular card for balance transfers only.
Another thing to keep in mind is how much are the annual fee? Some balance transfer credit cards may have very expensive annual fees.
If you have to pay such a large amount each year, will it still enable you to save your money? There are balance transfer cards that have no annual fee so you’ll want to take your time looking for the right card to fit your needs.
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