Low Interest Credit Cards

About two thirds of the major store cards on the market charge more than 25pc interest, while some are nearer 30pc. In contrast, a competitive credit card – such as that offered by Sainsbury’s – charges under 13pc. What’s more, you don’t find them in a bank, but in a brightly lit shop environment, sold by shop assistants who may not understand how they work.

Many of the most expensive cards are found in shops frequented by young women – for whom this may be their first form of debt. For example, the Miss Selfridge card has an Annual Purchase Rate of 28pc if you pay by direct debit, and just under 30pc if you don’t. Some customers open such accounts without even realising that they are getting into debt.

So first, take a look in your wallet. If you have any of these cards, and don’t use them regularly, you should cancel them. Some schemes offer you regular offers – among them, the Debenhams store card, which gives you 10pc off in its cafés and restaurants throughout the year.

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American credit has decreased and has continued to do so since 2008. Industry experts state that Americans are getting wise on their debt decisions, tending to turn away from debts and already paying them up. Is that true?

The National Debt amounts to 2.46 trillion dollars, with 864.4 billion dollars of credit card debt a part of it. The average credit card balance debt is around $5400 while the average number of credit cards per family is eight to nine cards. With 1.21% delinquency rate of borrowers and a lowered credit debt by 8%, who says that Americans can’t anymore pay there debts?

Experts attribute this to the falling cash balances in the pockets of the citizens. The recent recession has made them victims of lay-offs and mortgage foreclosures, thus making them more in need of cash.

So why do they quit debt, despite the necessity of money? Because, they were denied by their credit card companies, that’s why. Cre

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A few month ago, TechCrunch founder Michael Arrington ranted on TechCrunch about how his applications for an American Express credit card were repeatedly denied, despite his “good/excellent” credit rating of 748.

After the post was published and received hundreds of comments, Tweets, and a healthy helping of buzz, an American Express representative called Arrington and offered him a $15,000 credit limit on a brand new AmEx card. Here’s the full recap.

For the rest of us, no matter how much we rant, rave, and blog, we likely won’t be receiving a personal phone call from an issuer offering a credit card on a silver platter. But, with the right know-how and appropriate steps, you can make your good credit work for you when applying for a credit card.

It’s More Than Just Your Credit Score

Based on the comments in response to Arrington’s post, most TechCrunch readers believe that wealth equals good credit. But there a

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Do you find yourself having to pay lots of interests because your payday is scheduled days after your monthly bills have been issued? Then this situation will not be helpful at all for you because in the long run, you end up with paying more than you normally have to and that will not be helpful at all on your finances. With this situation, it sure would be helpful to have low interest credit cards to help you settle your accounts in time avoiding those additional interest rates thus making you save money in the end.

Having credit cards can really be helpful especially in those kinds of times. However, you should have those low interest rates credit cards and not those cards that would ask you to pay higher on their interest rates otherwise they will not be helpful at all.

The problem now with credit card companies is that they ask for a lot of requirements from their applicants and usually, an ordinary employee will not be given the chance for a credit card application especially when their salary does not meet the minimum monthly payout a certain credit card company has set on margin.

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Store charge cards can make shopping at certain merchants more enticing due to built-in deals when you use your store card. Most retailers offer 10% or 15% off your first purchase when you sign up for their store charge card. This offer becomes especially enticing when you are planning to buy large ticket items like furniture or electronics, or even if you are doing much of your holiday shopping in that store.

Store charge cards can save you some money on your purchases, but they can also cost you. You might be more likely to go back to that store more frequently than usual once you are a cardholder. Also, store charges see a lot of customers forgetting to pay their bills, or sending in late payments, often resulting in added fees on their accounts. If you plan to pay off your store charge card balance in full and on time every time, this type of charge card might work for you.

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