| |
| |
|
WebsiteAlways |
|
Credit Cards or Store Cards - Which Is Better?
Introduction In this article, a presentation is made of the differences between major credit cards and credit cards offered by specific stores to their customers. The purpose of this article is to provide a general overview of major credit cards and store cards to aid consumers in making decisions regarding which lines of credit lines would be the best for them in a given set of circumstances. In most situations, due to the higher rates of interest charged by most store-specific cards, it is best for the budget-conscious consumer to consider forgoing those accounts in favor of a major credit card. With that said, we are not endorsing any particular credit card brand in this article. Rather, the materials presented are for informational and educational purposes only. General Availability Major credit cards are accepted in a wide variety of places and venues. Indeed, the major credit card companies make it a point of promoting how wide spread card acceptance is in this day and age. On the other hand, store-specific credit cards are good only at the issuing store. Where to Apply It is simple to apply for major credit cards. Nearly any bank or financial institution can provide a customer with an application for one or another of the major credit cards. Additionally, the Internet has become a handy resource for those men and women interested in applying for and obtaining a major credit card. Store-specific credit cards only can be applied for directly at the store or shop. Additionally, if the store has an Internet presence -- and many major stores and even smaller shops do so in this day and age -- applications for store-specific credit cards can be made online. Annual Fee and Related Charges Many major credit cards do charge an annual fee. Some major credit cards charge an additional or supplemental membership depending on where the card was obtained. Store-specific credit cards normally are free of annual fees and similar charges to their customers. However, store-specific credit cards carry with them notably higher rates of interest than can be found with major credit card accounts. Common Clauses and Provisions In the United Kingdom, and in most European Union countries, there are clauses and provisions that must be included in each and every monthly credit card billing statement -- both from major credit card companies and on store credit card accounts as well. These clauses and provisions are:
Conclusion In the final analysis, one should only have as much credit as is absolutely necessary. Generally, it is not a wise decision to rake in a bunch of different credit cards. Rather, the best policy usually is to maintain one or two major credit cards. Also consider that store cards generally do not offer the same benefits as credit cards such as balance transfers, although it is common to get brand exclusive reward schemes with store cards. Finally, one must be cautious about obtaining store-specific credit cards due to the higher rates of interest that come with these accounts. Neil Brown is a freelance writer with regular contributions to Search4 Credit Cards and Choose A Credit Card.
MORE RESOURCES:
Credit - Google News |
|
|
|
RELATED ARTICLES
Pitfalls of the Credit Industry The credit industry if rife with pitfalls. If you have ever owned a credit card you probably already have learned this the hard way. Sound Advice For First Time Credit Card Users If you are just entering the world of credit cards, there is important information you will need to know in order to manage your credit and your finances effectively. Establishing good habits and a good credit history now is the foundation for a solid financial future. Make Sure Your Credit Report Is Correct to Improve Your Interest Rates And Lower Insurance Premiums Did you know that you could make sure to get the best rates on your auto and homeowners insurance simply by having a good credit score.Additionally a great credit score will allow you to get the best interest rates on your credit cards, car loans and even your home mortgage. Debt Collection Agencies Debt collection agencies are often a viable option for receiving payment on overdue bills. Here you can earn how debt collection agencies work and what to look for in reputable debt collection agencies. Credit Cards For People With Bad Credit Scores Sometimes life lands you in a situation that causes your credit to suffer. A job loss or illness can send your credit rating south leaving you with nothing to do about it. Credit Report - Watch Out for Parking Tickets The economic downturn of the last five years has affected millions of Americans, but it has also affected the budgets of states, cities and counties. With limited tax dollars with which to work, various government entities have had to try to stretch their budgets to allow them to continue to function. It Is In Your Best Interest To Do The Math On Your Credit Card Interest If you begin foaming at the mouth once a month when you receive your credit card statement, join the millions of Americans that are foaming along with you. There is a growing outrage at the seemingly endless journey towards eliminating the balance on your credit card and that is due primarily to the extravagant interest rates charged by credit card companies. Applying for Credit Cards Online In the olden days, about 10 years ago, before the internet, consumers would have to fill in applications for credit cards, loans, mortgages and so on by hand. It's hard to believe now, but this lengthy process was the norm, with requests for extra documentation and references going backwards and forwards, until finally the application was accepted or rejected. Like It Or Not, You Have A Score To Settle! Like It Or Not, You Have A Score To Settle! (Part 1 of 2 on Credit Scoring)Just when most people finish with school and can stop worrying about test scores, there's a new kind of scoring that enters the picture. It's called credit scoring. The Best Strategy To Erase Credit Card Debt Credit card debt is a growing sickness in the United States and Europe. It is very important to eliminate debt and take control of your financial health. Credit Reports: Find out why you have been refused Credit. You may already have 2 or more credit cards in your purse or wallet and you have just applied for a third and been declined. This can be very frustrating considering you pay off your other credit cards regularly and you are continually having your credit limit raised. Establishing Credit - What You Need To Know Part 1 Establishing credit is one of the most important things you can do in order to add stability to your financial record and dramatically increase your ability to borrow necessary funds in order to purchase a new home, new car or even pay for college expenses. Unfortunately credit has two sides to it that consumers can exploit. Online Credit Report and Online Credit Reports Online credit reports are easily accessible to those interested in viewing them. If you have wondered about what kind of credit score you have, you can go on the Internet and look at your online credit report. Credit Reporting: How Does It Work? In order to determine a consumer's credit worthiness, creditors and lending institutions have come to depend on credit reporting agencies. Credit reporting agencies supply individual reports that provide consumer specific information for lending purposes. Credit Cards, Merchant Accounts, and Your Bottomline Q: I'm opening a gift shop and want to be able to accept credit cards. I talked to the branch manager at my bank, but he didn't seem to know much about how it all worked. Credit Damage: Getting Compensated for Your Loss Until recently lawyers for victims of credit damage had little possibility to collect for damages beyond medical treatment, lost wages and property loss. Insurance companies threw up their hands in sympathy, claiming victims can only be compensated for what can be measured - tangible goods and services. What You Need To Know About Credit Cards What is a credit card? A credit card is a card that allows you to borrow money to pay for things. There will be a limit to how much you can spend called your credit limit. Balance Transfers Introduction Credit card balance transfer involves using a credit card to pay off the amount outstanding on one or more credit/store cards. The total debt then moves to one card. Why Does Your Credit Card Rate Keep Going Up? Have your read your credit card contract through completely? Do you know when it is okay for your creditor to raise your interest rates? If you are not sure about how and when your rates can be affected over the life of your contract you should take a few minutes to read your contract thoroughly from beginning to end.Creditors must have clauses in their contracts that give them the right to change your interest rates. Cash Back vs. Rewards Credit Cards Ah, the sweet rewards of using credit!Not only do you get immediate gratification with the buy now-pay later plastic, but now, many credit cards offer rewards and incentives for using their card to make purchases. You can get cash back, or gift cards, or 'reward points' that you can spend on merchandise or services from various merchants.
|
| Interesting articles | Home | site map | Link |
| © 2006 |
