Despite the popularity of credit cards among consumers, there are some drawbacks to the high interest rates and cash back policies associated with those credit cards. For most consumers, the cash back rate for purchases is considerably higher compared to the interests and other finance charges that accompany most consumer credit cards or other low interest credit cards.
Credit Card Details
The card has a number of different features. The rewards that customers receive are usually in the form of cash, check points, or miles. This option is convenient for the card holder who frequently makes purchases that require money in the form of credit lines on the balance. Another option that most consumers are introduced to is a rewards program offered to airline cardholders. Also included on most air travel rewards cards are airline points that will automatically be accumulated in the form of points or air miles for that special airline.
Most credit cards offer financial benefits. A rewards program provides one with various discounts or rebate programs while a balance transfer or an interest rate on purchases can mean the end of debt for many people who often carry a balance on their checking or savings account balance.
There are a number of other benefits that credit cardholders should know about. This list is not intended as exhaustive but rather may include the following benefits:
1. There is a one-time reduction of 0.000001% APR interest for a fixed period of 12 months on all purchases and other purchases made on the credit card. Thus, a person who received a three-year, $15,000 fixed-rate is still eligible for this rate.
2. There is a one-time 30-day 0.000001% interest free purchase rate credit on the purchases. This rate is normally charged to credit card balances after the initial 12-month introductory-rate period.
3. The 0.000001% APR interest also applies to balance transfers. In order to qualify for the 0.000001% APR interest free period, the credit card must make a new start within this time.
4. The 0.000001% interest free offer also applies to balance surcharges. Financial institutions charge fees from the day the combined account balance is reached. This may vary from bank to bank, individual account to individual bank, and so on. Some institutions also charge a transaction fee – any one who uses the credit card should be aware of this matter.
Today, you may obtain a three-year fixed-rate from any bank, credit card or store that you manage to secure. This card, which offers no annual fee, will offer reasonable interest rates by credit card company. For additional help on introductory-rate planning and finance, visit http://creditcards.com/introduction-rate/.
Once you have obtained a new credit card, there will usually be a few options available to you on how to secure the card. The most important of these is the 0.00% balance transfer credit card offer. Although this offer will offer no interest at first, the 0.00% balance transfer credit card offer will allow you to get a better rate with less interest. Thus ensuring your financial stability and freeing up your hard earned cash is the first step on entering the true financial vocation.
The Benefits Of Instant Approval Credit Cards
Instant approval credit cards have become the rage among consumers. Although it comes from the Latin word for “it,” instant gratification is no longer the most appealing term for any credit card company looking to get people to sign up for one. Many of these cards claim to take a check in the post and say you can make such a purchase within 6 hour of making a credit card application. Instead, approval or denial is a matter of trial and error.
The primary driver for instant approval credit cards is a combination of a few key characteristics. The initial card application with the cards signature, at the very least, is an indication that you have decided to apply for a card. This signature may seem to be a reflection of your moral standing and may be the most important indication that qualifies you for the credit card. Typically, these credit cards use the 5th or 6th graders lettering which means the same. If you are a 5th grade student then you normally do not have the potential of having a college education. Or, and this is the key performance criterion, you may qualify for a credit card which uses a 6th grade lettering to indicate your credit history.
Instant approval credit cards do not require additional knowledge of history or bank records. They do permit you to submit any questions directly to your credit card representative rather than waiting weeks or even months to receive detailed information. Also, the card may use an EMI number rather than the actual EIN.