Finance Tips

This summer has surprised all of us with its unbelievably hot weather, the highest gas prices and the unforgettable Beijing Olympics. But when it comes to credit cards, there were no surprises as for which cards came up as the leaders on the most popular offers chart for the season.

The number one deal for the summer of 2008, without a doubt, is Discover Open Road Card. This is the card with generous 5% cash back rewards for gas purchases that can be doubled or even tripled by redeeming points through Discover partners. I must say that gas credit cards in general were the most popular offers this season. That is understood, since the gas prices were at the peak during the busiest travel season. Recently we have been observing somewhat satisfying decline in fuel cost, however it still is one of the biggest concerns for many families with limited gas budget.

The second place was taken by the 0% credit cards and a number of credit cards from Chase, American Express, Discover and other banks. The wave of credit troubles that started forming at the end of 2007 has created a crowd of people constantly searching for a temp relief for their credit problems. Balance transfers for many of them seemed to be the best solutions, driving up the popularity of 0 interest credit cards with a balance transfer option. Among many offers Citi Platinum Select and Chase Visa Platinum cards took solid leading positions in this category.

Credit cards with rewards, as usual, were getting more attention as we all started looking for airfares and hotel reservations. The top positions for travel rewards were taken by Blue Sky from American Express and Miles by Discover Card. The seekers of cash rewards were satisfied by such offers as HSBC Weekend Card and Financial Rewards from Bank of America. As we covering the subject, I would like to make a point here – getting a reward credit card during the travel season will not help one much. If you wish to take advantage of such credit card deals, then get your card now and collect points by the next summer.

We have reviewed the three most popular categories for this summer season. For all of you who are looking for additional offers or more information on the deals mentioned above, visit CreditCardMix that hosts great credit card deals [http://www.creditcardmix.com] available online. Do not forget to use Google or any other search engines to find other credit card portals and compare offers. Remember to shop around and read all the details on the application before applying for a credit card.

Finding a business credit card with no personal credit is tricky because you will need to consider a number of things. For the most part, you need to have a satisfactory level of credit scores from at least three credit reporting agencies. In order for you accomplish the first step is to search for credit card companies and dealers that can offer you even a small credit without the use of your personal credit as basis.

After you have found credit card companies and dealers, you have to make sure that each should present a business payment history to the credit bureaus. Because by reporting to these bureaus, you are slowly establishing credit scores. So, your company should at least be registered on three different credit bureaus. And after that, you must complete the requirements needed for the basic lender approval or everything will go to waste.

Completing the basic lender approval requirements is easy by simply presenting a business license or a phone line. If you are unable to present these simple requirements, your application to get a business credit card with no personal credit will be declined.

Before your business credit card with no personal credit gets approved, you have to maintain a good business credit and make sure that your business and accounts are all right and in order. You also have to fill out a form of assets collateral coverage. But before you apply, ask your lender first about the application to make things easier for you. Once you have everything all set, you might soon find yourself holding your long-awaited business credit card.

Searching for the cheapest credit card rates online is a complex business with many credit card suppliers offering different deals depending on your circumstances. The cheapest credit card rates will differ if you are looking for credit cards for new businesses or are wondering how to transfer credit card balances with bad credit.

In the last year the credit card companies have got wise to customers switching to 0% balance transfer no annual fee credit cards and simply transferring their credit card balance after 6 months. As a result you need to look beyond finding the cheapest credit card rates and look at the long term benefits and interest rates.

Some of the credit card companies are now even charging an annual handling fee but before you dismiss this you need to work out the total annual costs as some of these card suppliers actually have a better annual interest rate than others who don’t charge a handling fee but add a few percent onto their APR rates which can cost you more money in the long run.

When looking for the cheapest credit card rates you also need to consider reward credit cards such as the Capital one reward credit card which offer extra benefits that could include cash back or free travel insurance. Cash back rewards can be a good incentive for high spend credit card customers although the danger is you spend your cash back on more goods !

You should also keep an eye on your credit card statements as very often customers who enjoy the cheapest credit card rates will move onto a higher rate after 6 months and this will make a big difference in your monthly payments as your interest rates could increase by as much as 20% depending on your deal. Another thing to look out for is your balance transfer rate expiring as most companies offer a low rate for 6-9 months.

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As a consumer, when choosing the right credit card for you, you need to take into consideration a number of things. For example, do you make your payments on time every month? Or do you need to rebuild your credit? If you have bad credit and thus, poor credit rating, the best option available is a range of ‘secured’ credit cards. Generally, you can improve your credit rating in this way, where the deposit you make into the account, determines your credit.

In the following information I will show why each of the 9 credit cards I am writing about, are good.

If you need to rebuild or establish your credit and you want a low annual fee of $29 where you choose your credit limit, I would suggest the Secured Visa Platinum credit card from the Bank of America.

If you have no constant income or poor credit, the Secured Visa Credit Card from Applied Bank is a good choice, especially if you tend to make late payments. This card’s annual payment rate (APR) is fixed at 9,99% regardless of late payments.

MetaBank’s UltraVX Visa Card approves up to $25 000 cash on demand (patent pending) with loads of rewards, with instant approval regardless of credit rating.

The Black Diamond Visa card from Millennium Bank has quite a high ongoing APR of 19,5%, but you can get up to %100 000 travel accident insurance and you get a special high introductory savings rate. If you want to save some money, this is a good choice of card.

Plains Commerce Bank’s Access Visa Card and Total Access Card both offer 24-hour online account access and excellent customer service. The Access Visa Card offers immediate online decision while the Total Access Card offers you an instant decision, as long as you go directly to the bank itself.

The nice thing about American Pacific Bank’s Secured Visa card is that it offers no application processing fee. The deposit you make is the same as your credit. It is a great card if you need rehabilitation.

U.S. Bank’s SkyPass Secured Visa card offers great bonus miles as a reward, especially when making your first purchase and with renewal. It also offers up to $250 000 in Travel Accident Insurance.

Lastly, for a low annual fee of $18, Wells Fargo Bank’s Secured Visa card does offer higher interest rates, but you get free online access to your account, where you choose your payment due date, and you get free car rental insurance.

There are many sources where you can file a first time credit card application. These include banks, credit companies and other agencies. The Internet is the easiest way to locate your preferred credit card company.

When applying for a credit card, most companies need information such as name, age, address, social security number, any former address of yours, occupation, employer, and annual household income. These details are adequate for the credit company to verify your credit history, which is the major criterion for approval or rejection. Annual percentage rate (APR) often varies with your credit score. That is, a high score will get you a low APR.

Most first credit card application forms contain certain clauses written in fine print. Company salesmen are often outspoken about the advantages of their transactions. But these fine prints often carry conditions that are disadvantageous to you. One important thing to check is the APR. Most credit companies tempt you with a low initial APR score. Remember that it is the long term APR you should weigh most, not the short term.

A US citizen who is 18 years of age or older (the limit is lower in some states) has the legal right to demand a credit card with any US bank. Generally, credit card providers do not want a bank account to get a card. It is also possible to request many credit cards at a time. But multiple applications can affect the credit score negatively.

With great competition existing in the credit card market, most credit card providers look for an easy means to attract new businesses. They provide special gifts on many occasions such as Christmas and holiday shopping seasons.