Perks That Might Be Hiding in Your Credit Cards

Credit cards tend to have its advantage as well as disadvantage if not used rightly. At times even the most responsible people could meet up with problems if they are faced with a dismissalor in a situation of an expensive treatment. If all tends to go well and the user is well aware of what they are doing, credit cards could save them with a lot of money. One need to know their credit card well because if not, they may be unaware of the various perks which some of the credit cards tend to offer and hence will not be able to take advantage of them resulting in losing money. The fine prints should be checked since there are some of the hidden perks, which an individual may be entitled to, while utilising the credit card

Rental insurance 

Spokesman for Clear Point Credit Counselling solutions, Thomas Nitzsche, headquartered in Atlanta, had been faced with a problem when on renting a car to drive from Missouri to Georgia had to street-park it for three days while staying in Atlanta. He had noticed that it had been hit on the rear bumper and the cost to fix it amounted to $800. Though he had not bought the expensive rental insurance, the rental company offered help.Nitzsche’s credit card, VISA Signature comprised of rental insurance and the entire bill was paid after he had submitted the paperwork with proof that the car had been rented by him and was being asked to pay a claim.He informed that Visa was capable of reducing the $800 by around $50 and they probably had some negotiating power.

Airline incidentals 

Matthew Coan running the financial comparison website, Casavvy.com informed that he was overwhelmed with a recent perk provided by the American Express Premier Rewards Gold Card, a $100 annual credit for covering airline incidental fees. According to him, these fees comprised of checked bags, flight refreshments, airport lounge passes and much more. A few things need to be kept in mind in order to utilise the perk wherein for the reimbursement of any of these fees, the same has to be paid separately from the airline ticket and can only obtain the fees reversed for one airline for the calendar year.

Dispute resolution 

If the individual feels that they have been overcharged for something, they could contact their credit card and get help. If the dispute resolution service is offered with the card, you stand a chance of getting the charge reduced.

Trip cancellation insurance 

According to Jared Blank, chief marketing officer of the retail website DealNews.com, states that with Chase Ink Plus card, they offer this facility of trip cancellation insurance. He narrates that his parents had booked a cruise and a non-refundable flight for a holiday and had paid with the Chase Ink Plus card. His mother had been ill and the trip had to be cancelled. The airfare and the cruise cancellation fee were reimbursed by Chase that was done without any difficulty.

Extended warranties 

At the time of purchase of a computer or any expensive product, one would often be asked if they would prefer purchasing an extended warranty. They would then get engaged with their associate on, whether the offer would be worthwhile. Four of the major credit card networks, namely MasterCard, Visa, American Express and Discover tend to offer extended warranties on several, though not all of their credit cards.

Beware Credit Card Firms’ Odious Tricks

Credit Card Companies – Reduced Rewards/Cash-backs

Starting a new business and making arrangements for the fund could at times come from friends or family or even a small business loan from the lender or financial institute. However, when these options seem to be unavailable, one could turn to credit card in availing the funds for a small business.

Credit card is not an invitation to spend money one does not own but the consumer needs to be cautious in using the credit card wisely. Several of the consumers do not take the trouble in reading the card statement carefully that would make them cautious of all the small charges which are imposed by the card company.

It means that a credit card is an easy packaged though a terribly priced personal loan which has the utilities but the charges seems to outweigh the benefits. Since updated EU clampdown on charges has been hitting on the profits, Credit card companies have reduced their rewards and cash-backs. Peter Jackson of Stockport speculates on the rewards that these credit card companies tend to hand out to consumers in a way to confuse them on how much they actually pay to use them.

Companies – Hidden Charges

Jackson writes that `any perks that individuals tend to receive have been paid for, by themselves without their knowledge. What makes matter worse is the fact that because everyone pays the same prices in the vast majority of retail outlets, anyone without a cash-back deal is subsidizing the customers who do’.

 He further goes on the same point with regards to current accounts stating that `this has been going on for years in the form of free banking. Banks give free bank accounts and then make their profits from people going overdrawn’.

In all honesty, he could have made the same point about mortgages, energy bills or mobile phone charges and people with the time and energy seeking out the best deals tends to do well. Others get penalised through higher charges or fewer discounts. Jacksons continues that `instead of charging a fair price for a fair service, companies tend to put all their efforts in hiding charges.

Introductory Deals of Zero Percent – Odious Deceits

It ends up with the poor and financially illiterate supporting the well-off. Why is there no open and honest charge, without all the cross-subsidizing?’ he asks. He states that it is a fair enough question and the one which he constantly puts forth to financial institutes over the years.

There are few notable exceptions most of whom are too frightened of losing business should refrain from competing with the same marketing tricks which their rivals tend to have. The introductory deals of zero percent which credit cards tend to offer are one of the most odious deceits, since people get affected by huge balance transfer fees together with high charges towards the end of the term.

 The faster these tricks or deceits are barred, the better. Consumers should bear these facts in mind and be wary while using the credit cards and avoid the traps the card companies and banks utilise to entice consumers getting them to pay all kinds of penalties and fees.

How to Maximize Credit Card Rewards

Credit Card Rewards – Perks of Rewards Program

According to a 2011 research from Colloquy and Swift Exchange, the average household active in rewards program do not redeem a third of the rewards they tend to earn every year which could include credit card rewards. John Ulzheimer, president of consumer education at Smart Credit.com comments that `there are a slew of people out there that has cards with points on all of them and they don’t even realize it’.

 The idea of receiving rewards credit card is to give the person the perks of the rewards program and the best way to ensure that one gets the most out of the rewards credit card is to use the right one and make sure it is paid off each month.

It could be used to the greatest advantage while also being aware of the possible pitfalls like leaving points on the table. The first problem is to ensure that the credit card and rewards program chosen matches the individual’s financial lifestyle.

 If the person travels a lot during free time, then a hotel or airline card could suit the individual while a gas credit card could be best for a road warrior. Those who would prefer an uncomplicated reward system could opt for cash-back credit cards, according to vice-president, Amy Lenander, of rewards programs at Capital One.

Cash Rewards Easy & Straightforward

She states that `cash rewards tend to be easy and straightforward as rewards can develop. Customers who prefer miles and points could save up for a big reward and dream up the possibility, whereas the cash-back customers tend to be more practical’.

Besides this, several cash back cards are provided with various ways of redeeming rewards like in the form of cheques, statement credits, charity donation or gift cards while others tend to automatically deposit the rewards directly in the bank account. It is essential to read the terms and conditions since not all cards are created equal even if they offer a similar form of reward program.

There are various forms of credit cards wherein some may require spending threshold prior to earning rewards while others cap the amount of rewards that is earned. Users should also be aware of blackout dates in redeeming travel rewards or the expiration date on points. Linda Sherry, director of national priorities at watchdog group Consumer Action also informs that these rewards programs are subject to change at any point of time.

Some Advanced Planning

Cash back cards could also involve some advanced planning and while most cards provide one percent to two percent cash back there could also be certain restrictions or requirements. These could include caps on spending in various categories or more rewards on purchases on gas, groceries or dining. Other cash back rewards programs could be even more difficult, with rotating categories needing quarterly registrations.

According to Bill McCracken, CEO of Synergistics Research in Atlanta, states that in some cases, consumers tend to pick the spending category and receive the rewards or the rewards are given to the highest spending category. This could mean more observing by the consumer in taking full advantage of their credit card.

Consumers should be alert for opportunities to double or triple their reward earning power. Lisa Hronek, senior analyst at Mintel Comperemedia informs that several issuers tend to offer an increased cash back return rate each quarter for certain categories usually the ones that go according to the season.

Credit Cards

Credit Card – A form of Borrowing

Credit card is one form of borrowing which involves some charges and its terms and condition could affect the overall cost. It is advisable to do some research on the terms and the fees before any agreement to open a credit or a charge card account.

 Being unaware of the terms and their charges could leave the user disappointed when faced with the overall cost they may encounter. At times shopping with the credit card could save you money on interest and fees. Issuers of credit card tend to have wide scope in charging interest though they should brief the customers on the interest rate. It is also essential for the customer to read the fine print in the original credit card agreement as well as in any supplemental copy.

As per the federal law, interest rate tends to increase on existing balances under some conditions like when a promotional rate may end and there is a variable rate or when the cardholder tends to make a late payment. The interest rate on new transaction may also increase but after the first year. If the customer is faced with an issue regarding the credit card, they should first try resolving the same directly with store or the credit card company or the financial institution.

Consumer Financial Protection Bureau

If the matter is not resolved, they could file a complaint with the Consumer Financial Protection Bureau – CFPB which presently accepts complaints with regards to credit card issues and take them up either through phone or through their site at https://help.consumerfinance.gov/app/ask_cc_complaint. For any guidance regarding credit card debt, fees and high interest rates, customers could contact a credit counselling service or debt Management Company who can render the necessary guidance and support. They could also provide practical as well as legal financial advice with regards to the use of credit. Beside this, they could also make attempts on renegotiate the terms of the credit agreements and make arrangement to pay off the debts. One needs to check on the debt management company though all arenot the legitimate ones.

Credit Card Eligibility Calculator

Some of the following credit card eligibility calculator could be helpful to individuals such as:


• Bad Credit – For bad credit scorers- Those who apply for credit card and have been rejected need not go in for the same. They should check on cards that would fit their profile and try to rebuild credit rating by using the top `bad credit’ credit card and ensure to pay in a timely manner
• Interest free spending- 0% Spending – If the need to borrow for a purchase arises, the right choice needs to be taken, credit cards are far cheaper than loans though if misused it could add debts which may be difficult to pay off
• Balance transfers – Cut existing debt costs – Shifting the prevailing credit card or store card debts to new balance transfer card could save much wherein the balance transfers when a credit card could pay off debts on other credit or store cards. Thus one owes the new card though at a lower rate which means they can be debt free much quicker.
• Travel Money – Several cards add 3% cost than the banks to the exchange rates which can be avoided by a specialist card that does not add this percentage and you get a good exchange rate. This could be used for overseas spending though one should bear in mind to repay in full to avoid the additional burden of interest.
• Balance transfers and spending – All-rounders - Most of the banks offer introduction deals to attract new customers with cards that could be either good balance transfer deals or low rates on new spending. All-rounder cards offer cheap intro rates for balance transfers as well as purchases and if a person needs to move debts from an existing expensive card as well as need to use a card for purchase, they could be checked since they cannot damage the credit score with additional applications.
• Cash back – pays when spend – The cash-back credit card tends to pay you each time you make a purchase where top cards tend to pay around 5% introductory cash-back while other offer 3% on fuel and transport spending. Besides these, there is also other good fee free; cash reward cards which are like cash-back cards offered.
• 0% Cash in Bank account – Money Transfer – The money transfer credit card enables the customer to pay money from their new credit card in the current account with a small fee wherein they get a long interest free period in repaying the debt. Should the customer fail to repay the same within the given time period, they are charged with a high interest rate.
• Get Air miles while spending – Airline credit cards are an addition of regular flyer programs and one could earn points or miles on spending as well as earn bonus for signing up. The miles earned from spending could be added with those earned from flying or by other credit card reward schemes like converting Tesco Clubcard points.

Ways to get a Good Credit Card

Today, while I come across Internet, I visited an excellent site which gives us very vast information about the credit cards. Selecting a good credit card is a cumbersome process, with lot of false promises like instant approval, guaranteed approval etc. But you will get a complete solution for all your credit card needs here.

You can compare credit cards offer, by all Brands and Issuer without any hassle here. Once you visit here, you will get a thorough knowledge of how to use the credit card, more importantly how you can earn profit from your credit card.

If you are a student, then you an avail a student credit card from leading brands with huge cash back bonus and earn rewards with your student credit card. Even a cosigner is not required for a student credit card.

If you are an over spender and you wish to control your spending pattern then prepaid credit cards suits you. If you don’t have the record for your spending pattern then you can get a prepaid credit card for you. Using this kind of card, you can avoid unnecessary fees and interest burden.you can compare various card and their offers.

Once you compared and collected various details about the different credit cards and their offers form this site, you can avail the instant online approval from here and you will get the instant result with remark at once.

Then, What next log in and avail  secured credit card  and reap the benefits.