Credit cards: the miracle of plastic money! by HDFCBANK

Have you ever had to ignore an irresistible offer for an LED TV just because it was the month-end and you were still waiting for your salary? Or find yourself without enough cash to handle an accident or illness in family? While you can postpone buying a luxury product if there’s a cash crunch, you can’t avoid spending in a family emergency. And the best option for impulse or emergency is that miracle of modern finance – the credit card .

Credit cards have become hugely popular, mainly due to the 24-hour convenience and access to instant cash that they provide. So much so that many people may have just one or two bank accounts, but three, four or even more! What explains the craze for plastic? Here are some of the reasons:

• With most shops accepting credit cards, you needn’t carry large sums of cash in your wallet when you go shopping.
• They can be used securely for shopping online.
• Almost all major banks offer additional benefits on their credit cards . With every purchase, you get reward points which can be used to avail offers like cash back, discounts on holidays, etc. Many providers also offer free life, disability insurance etc along with the credit cards.
• There are many types of credit card, which you can choose depending on your credit or spending capacity. These include Silver, Gold, Platinum, Low Interest, Cash Back, Premium etc.
• It’s the best option for availing short-term credit, since you have to pay only when you get the bill. If you are prompt with your payments and avoid paying interest, a credit card is a huge convenience.
• Many cards are co-branded and provide great benefits and offers through partner brands
Make the best of your credit card
• A credit card definitely gives the freedom of instant cash. But spend wisely, or you may end up paying huge sums in interest payments, especially if you begin availing of revolving credit.
• Maintain a timely bill payment schedule, as this may save you from paying late charges or interest.
• Keep your credit card safe. If lost/ stolen report it immediately to the bank and block it to prevent misuse.
• Study your credit card statement transactions closely. This will prevent you from paying for any transactions that you may not have made.
• Always read the terms and conditions carefully before you apply for a credit card. Feel free to ask about anything mentioned or not mentioned in the clause.
How to apply for credit cards
To own a credit card, you can either walk down to the respective bank and apply personally by filling the required form, or log in to the bank’s website and submit an online application. A few days after submitting the required documents and verification, the bank will mail you the card to your postal address.

Whether or not you get a card depends upon your eligibility criteria like annual income, credit score and other requirements. Individuals between ages of 21 and 65 years are eligible.

A credit card makes your life so much easier; and is today a valuable, and necessary, addition to everyone’s wallet. But use it judiciously.


The author is a seasoned writer on finance topics, and her articles help readers more efficiently manage money matters. She writes about a variety of topics covering personal loan, home loan, car loan , credit card, debit card, insurance, etc.

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All You need to understand About Credit Cards Listed below by Christopher Nattiah

If you want to get your first credit card, but you aren\'t sure what type to get, don\'t panic. Cards aren\'t nearly as complicated to understand as perhaps you might think. The guidelines outlined in this article will help you decide what you should know, for you to sign up for a credit card.

Never apply for more credit cards than you actually need. So you may need a few credit cards to aid build your credit, but there\'s a time by which the number of cards you have is actually detrimental for your credit score. Be aware to seek out that happy medium.

Should your credit card becomes stolen or lost, report it immediately. Most card issuers use a special number to call simply to report a loss. To keep you further protected, it is best to write a follow-up letter to the issuer. This letter must have the card number, whenever your card went missing and the date you reported the card lost.

Transfer a greater interest rate balance to a card that\'s got an interest rate that\'s lower. Should you have multiple credit card that contain balances, move the balances over to the card with the interest rate that is the lowest. This could save some costs and minimize the money you owe.

To make the ideal decision about the best credit card to suit your needs, compare specifically what the interest rate is amongst several credit card options. If your card features a high interest rate, this would mean you\'ll pay an increased interest expense on your card\'s unpaid balance, which are often a real burden on your wallet.

Many companies advertise you could transfer balances over to them and carry a lower annual percentage rate. This sounds appealing, nonetheless, you have to consider the options. Think about it. If a company consolidates a bigger sum of money onto one card and then the apr spikes, you can expect to have a problem making that payment. Know all the terms and conditions, and be careful.

Be sure you watch your statements closely. When you see charges which should \'t be on there, or that you feel you have been charged incorrectly for, call customer service. If you can\'t get anywhere with client service, ask politely to speak to the retention team, in order for you to get the assistance you need.

To acquire the utmost value from the credit card, get a card that offers rewards dependant upon the amount of cash you spend. Many rewards programs provides you with as much as 2 % of your respective spending back as rewards which can make your purchases a lot more economical.

Credit cards are a lot simpler than you thought, are they not? Now that you\'ve learned the essentials of getting a credit card, it is time to sign up for your first card. Have fun making responsible purchases and watching your credit rating start to soar! Remember that you can always reread this article if you need extra help identifying which card to obtain. You can now go and obtain your card.



You can check out credit card comparison sites for the best way to easily find what you are looking for. You will discover all of the cash back credit cards you can ever need.

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Why Should You Apply For A Small Business Credit Card? by Marco Carbajo

A business credit card should always be the credit card you use when making business purchases. Transactions such as paying for gas in a company car, buying office supplies or taking clients out for lunch are all acceptable ways to use a small business credit card.

When it comes to personal credit cards, you should not use them for business expenses. This can potentially jeopardize the protection of the corporate veil because you are co-mingling funds.

Did you know corporate veil piercing is the top litigated issue in corporate law today?

That\'s a scary thought because statistics show that of the 65% of small businesses using credit cards, only 50% of those cards are actually in the company\'s name. This puts a business owner\'s personal credit and assets at risk which should be avoided at all costs.

Each type of small business credit card serves a unique purpose and offers its own array of features, perks and benefits. So before you go out and apply for a business credit card have a clear plan of what you are looking for.

A common mistake is applying for a card without first identifying the needs of the business. Will the card be used primarily for air travel, automotive or daily purchases? Do you prefer the option to pay off purchases each month or carry a balance? Will the company be issuing cards to employees or will there be a single cardholder?

These are important questions that give you an indication of the importance in defining purpose. Without purpose you can end up obtaining a small business credit card that costs more and benefits you less.

Some of the benefits of a small business credit card include:

*Easy financing: Rather than waiting for an approval for a loan, lease, or line of credit, a business credit card lets you purchase items immediately. No explanations are required and there are no limitations on what you can purchase with your card. As long as you make the minimum payment each month and don\'t exceed your limits, it\'s a great option for quick cash.

*Fast Access to Cash: If your company needs cash fast, then a small business credit card can be a life saver. Typically, the cash advance limit on a business credit card is lower than the spending limit, but the ability to access cash immediately is extremely convenient.

*Track Expenses: Managing your company\'s expenses becomes much easier when you completely separate your personal and business expenses. With a small business credit card, all your purchases are recorded, making it much easier for your bookkeeper during tax time. Also, most business credit cards will issue year-end statements that categorize your annual expenses into specific categories.

*Control and Manage Employee Spending: Issuing small business credit cards to employees can offer many tax advantages. However, it is important to select a card that offers you the ability to control spending and set limits.

*Business Perks: Business credit cards offer a variety of benefits for companies such as travel assistance, purchase protection, cash back rewards and insurance protection.

Many business owners have multiple cards with each one designated for certain purposes. For example, one card for employee expenses, another for business necessities, etc. Either way, it is helpful to have two or three small business credit cards available.

Take the time to research, compare cards and reap all the benefits a business credit card has to offer.




About the AuthorMarco Carbajo is founder of the Business Credit Insiders Circle. Want to learn more about small business credit cards? Claim Marco\'s popular FREE business credit seminar ($597 Value)! You can also follow Marco on Twitter @MarcoCarbajo or Facebook.com/startbusinesscredit.

Article Source: http://www.articlerich.com