The following tips are basic principles about obtaining and using credit cards that can save you some serious cash and keep you out of debt.

10. Have at Least One Credit Card for Emergencies – While we highly recommend having a rainy day fund for emergencies rather than relying strictly on credit cards, having a credit card with a low interest rate “just incase” is a good idea.

9. Rewards are not so Rewarding – Rewards can be a good thing, but only if used correctly. Rewards cards typically have a higher interest rate than regular credit cards, with the value of the rewards justifying the extra expense. The rewards are not usually as valuable as you may think. Typically the value of the reward is around 1 cent per dollar charged and often the rewards expire at the end of the year if you don’t use them. If you pay off your balance in full each month and charge a lot they can be worth while, otherwise you’re better off with a non-rewards card.

8. Have Two Credit Cards – If you do plan to take advantage of rewards, we recommend you carry two credit cards. The rewards card for making your daily expenses that you will pay off in full each month and a second card with the lowest possible interest rate to cover any emergency expenses when you won’t be able to pay off the balance in full by the end of the month.

7. Shop Around – Don’t apply for the first “pre-approved” offer you receive in the mail or any for that matter. Do the research for yourself. There are plenty of sites such as CreditorWeb.com that allow you to compare hundreds of credit card offers with a simple search. You’ll get the best deal by shopping around.

6. Read the Terms – The terms and conditions are the equivalent of the disclaimer you hear on car lot commercials. It cuts through the hype and reveals the true terms of the credit card such as what happens when you miss a payment and what you’re really getting from the rewards. Most terms are not that long, usually around one full page, it’s worth your time to read them.

5. Ask for a Better Rate – Once you have been a credit card customer for a few months call them and ask for a better rate. They won’t laugh at you, they get hundreds of these calls every day and if you’ve been a good customer it usually will work. Credit card companies work hard to obtain you as a customer and they will work hard to retain you.

4. Pay Off Full Balance Every Month – All credit cards have high interest rates compared to other types of loans. You should never plan to carry a balance on a credit card. If you must make a large purchase that you do not have the money for at the time, obtain a loan or a revolving line of credit from your bank. You will save a bundle on interest rates.

3. Work with Retention Department – If you ever feel you are being treated unjustly by your credit card issuer, a simple threat to leave will get you transferred to the retention department. This department will be MUCH more helpful to you and will usually do whatever it takes within reason to get you to stay.

2. Do not get a Cash Advance – This is the second worse thing you can do with a credit card, short of missing a payment is getting a cash advance. The cash advances usually come with a very high interest rate. What makes it worse is the fact that with most companies this higher rate credit will not get paid off first, or even in the order that you took it out. They will apply your payments towards all the lower rate purchases and will only begin paying off your high interest cash advance will all other items on that credit card have been paid off.

1. Never, EVER Miss a Payment – This is the absolute worse thing you can do with a credit card. Not only will you incur a late fee, but your interest rate will also skyrocket. In addition it will be a negative blemish on your credit report which can cause the rate on any other loans or credit cards you have to increase as well as insurance rates. It also makes you less likely to get approved for future credit.

Most people don’t realize exactly how important a good credit score is these days. Everyone needs a good credit score. It’s critical. The credit score is the single largest component bank and other lending institutions look at when extending credit. The ability to borrow and use other people’s money is absolutely essential. Less than 1% of the U.S. population could sustain the lifestyle they live without borrowing money. In other words a person’s credit score is their lifeline. It’s sad but true that banks make life-changing decisions based on a number. The following are 8 consequences of having a poor credit score

1) Health insurance costs more
2) Auto insurance costs more
3) Have to pay a higher deposit for an apartment
4) Must pay a mandatory deposit for cable
5) Must pay a mandatory deposit for electricity
6) Must pay a mandatory deposit for hot water
7) Must pay higher interest rates for financing a vehicle (If your credit score will allow you to finance such a large purchase)
8) Must pay higher interest rate to finance a home (If your credit score will allow you to finance such a large purchase)

So if a person has a lower credit score that means they are more inclined to be a high risk driver? Or they are more prone to being physically injured? Well, nobody said all the rules make logical sense. That’s just the way the rules are and we all got to live by them. It’s pretty weird how it works, but when a person has poor credit it actually costs a lot more to live.

ABOUT THE AUTHOR: Raj Shah is a recognized authority on helping people find legal and ethical ways to increase their credit score regardless of their current credit rating.

Credit scores are the most important part in the finance area. Nowadays credit scores decide your financial future. Keeping an excellent credit score is something you can use in your favor to make your way to a debt-free horizon. Otherwise a negative score on your credit history can damage your possibilities to achieve your future plans.

There is not much anybody can do for those who do not help themselves the same thing happens with credit scores, you have to take action and do something about your score, this way your main goal will be to maintain an excellent credit record and lead a well planned life.

How to help myself to have an excellent credit score

In order to have an understandable idea about your credit score, it is recommended that you request your credit report from the credit bureaus once a year. With this you will be certain that your credit is being documented correctly. Normally credit scores are within 400 to 850. If your credit record is higher, your possibilities of getting a loan approved also get wider.

Credit scores take into account 5 main categories for scoring consideration and are rated according to importance:

Payment history -35%
Length of history -15%
Amounts owed -30%
New credit -10%
Types of credit -10%

Correlation between the credit score and defaulters

Most lenders take into account people that have high scores an average of 650 and up for you to be considered a potential debtor and have access to a higher substantial loan. This means that these people will most likely be approved loans at lower interest rates. According to credit reports from Equifax, 71% of the people with credit scores from 500 to 550 will fail to pay their credits. An additional 51% of buyers with a range of 550 to 600 credit score will also fail on their credits. The few people having credit scores of 650 or higher are considered to have a decent credit score.

More than 2 million credit reports are issued daily in the United States, allowing millions of consumers to acquire homes, vehicles and other durable goods and services on credit.

Based on statistical studies, Arthur Andersen concluded, that in only two-tenths of one percent of the over 15000 cases studied, where consumers denied a benefit based on an error in their credit report.

In the highly competitive credit card market, the pressure is on the credit card companies to create and maintain innovative benefit programs to lure and keep customers. One very popular benefit has traditionally been airline miles. However, with the current state of the airline industry and the commonly understood drawbacks of blackout dates and inconvenient travel times (hardly rewards) credit card companies have gone back to the drawing board in order to create a new generation of benefit programs to please the consumer and boost the pull to new customers.

There are companies that offer a ranking of the top cards and their benefit programs. Though many consumers search for low rates or a waiver of the annual fee, other rewards have come into play that distinguish the cards from one another in more interesting, personality driven ways. For example, The Discover Platinum card the annual fee is has been waived and the 0% Intro APR fully touted but it is probably the 5% Cashback Bonus and an option to double your money through shrewdly shopping with Discover's "brand name partners." Discover appears on the list several times, though all the cards are pretty much equally represented.

At the bottom of the list, A CitiBank card geared towards college students. It seems the major benefit to this card is being able to get one with little or no credit. In addition to the 5% back on gas purchases consumers get up to a 5% annual cash reward. Making money just for spending money is the common theme among the cards in the top ten.

Even debit cards are starting to compete with offers to customers. Typically, the credit card's biggest selling point, cash back, cannot be matched by the debit card. Positively, debit cards unlike credits cards usually offer consistent rewards across the board, rather than only offer a percentage or cash back when the shopper buys something at specific stores or "brand name partners". One trick is the debit card rewards are usually based on the signature. This means that although you may have made the purchase, if you put it through by using a pin or "point of sale" purchasing you won't receive the points you might otherwise be owed.

The truth is that we actually do not know exactly how your credit score is calculated because it is one of the most guarded algorithmic equations in the world. What we do know are some guidelines and some common trends learned from years of studying millions of credit reports. There are five main factors that will determine the overall score. Some factors are weighted more heavily and will have a greater influence on your actual score. Here are some guidelines:

Payment History & Late Payments: Your payment history and how many late payments are recorded on your credit will determine somewhere between 30 – 35 % or your overall score. This section takes a look at if you pay your bills on time or if they are late. If there are any late payments, it is taken into consideration how late those payments are. They can report as 30, 60, 90 or 120 days late. Each having a greater negative impact on your score. If the accounts been sent to a collection agency or a judgment lien filed against you, the score will decrease by an even greater amount. Bankruptcy will also have an adverse affect on the score. Chapter 7 will cause a larger drop in score than a Chapter 13. Conversely, the accounts that show no late payments will help increase the credit score. Scores will also continue to improve the further in the past the late payments occurred. Typically after 24 months, the negative impact of late payments drastically decreases.

Blend of Accounts: The overall combination of what type of credit accounts you have determine somewhere between 6-9% of your total credit score. Typically, the more even the blend of installment loans, mortgage loans and revolving loans the better your chances of having a higher score. Accounts that can have a negative affect on your score are store cards that typically have interest free periods such as furniture stores, clothing stores and electronic store. Since these accounts will never leave your credit history, they will never stop having a negative impact. It is better not to carry those types of credit.

The remaining breakdown is available at my website. Please visit so we can help you learn about your credit and improve it in the future.

Advertisements from credit repair companies can be found on local newspapers, TV, radio, internet, and fliers on the mail and on the streets claiming that if you have credit problems they can help you, that they can remove your bad credit, that they can get you a new credit identity or that they can remove stains like bankruptcy, judgments, liens, late payments, missed payments, and even unpaid loans or credit card balances.

Avoid Being Taken In

Truth is that all the above claims are nothing but false advertising, no one can remove those marks from your credit report unless the information is false or inaccurate. If you are actually responsible for those delinquencies, only time and a continued proper credit behavior can improve your credit report.

If these companies promise you they can fix your credit so you can get a new loan, credit card, store card, etc. right away, they are lying and you are probably facing a scam. Save your money and time and avoid paying for these companies’ services. Only legitimate companies that state that credit repairing can take some time are saying the truth and can help you to repair your credit by teaching you budgeting, how to refinance your loans, how to consolidate your debt, etc.

Avoid Legal Problems

Moreover, being ripped off is not the only problem you may face. If you follow some of these companies’ advice and try to invent a new credit identity and a new credit history by using an employer identification number instead of the social security number or by faking documentation, you may be charged with fraud and face serious legal consequences.

Don’t pay attention to companies that want you to claim that information on your credit report is false if it isn’t or any other practices that you think are clearly illegal or immoral. Don’t lie when submitting forms or other documentation nor when answering questions to lenders by phone. The conversations may be taped, the documents kept and used as proof to prosecute you for fraud.

The Truth About Credit Repairing

No one, in any way can remove correct information from your credit report in a legal way. Thus, if it isn’t a scam, it’s a crime. What can actually be done in order to repair your credit is to show a continued positive credit behavior. Some companies can teach you to do that and provide you with documentation and all the necessary tools for achieving your goals. It may take some time but it can be done with little sacrifices. However, there are no such things as magic solutions to your credit problems.

Legit Credit Repair companies will teach you how to repair your credit by yourself. What they can actually do is to provide you with information that you’d be able to find for yourself but is spread all over the net and on different government agencies. They have all this information, forms and documents packed and easily explained so you can save yourself time and probably money too.

Common enough today, a model of the credit card in its modern form was first invented by a fiction writer in 1887. Edward Bellamy, author of Looking Backward, mentions the "credit card" in the context of a utopian and socialist American society of the future. His hero falls into a hypnotic, time traveling sleep and is whisked forward through the years a full century, ending up in Boston in the year 2000, a place where he is able to make purchases using a commonly held "credit card", much to his delight. Credit, however, evolved long before the concept of carrying it around on a card. Credit and debt have been the driving force behind achievements ranging from a man working his way out of debt to a landholder, to Kevin Smith creating Clerks.

The advent of widespread credit card use was not until the 1920's. At that point in time the credit card was not recognizable as the powerful buying tool it is today. It's use was fragmented, and very often tied to specific merchants rather than specific banks or "captive banks" as it is today. Later, carrying and using a credit card was simply a way of being able to use your money when you were away from your bank, a common use that debit cards have largely absorbed.

Still later, came partial, or revolving, payment. Initially, most issuers required credit card balances to be paid in full at the end of each pre-determined period. With the introduction of revolving credit came the realization that these cards were not just immensely convenient for the user but could provide impressive amounts of revenue to anyone who wanted to tap into our strong desire to consume. This desire, coupled with new products and the convenience and carefree feel of handing over a card instead of cash, has led some critics to believe that credit cards may have been responsible in part for The Great Depression.

Though different in many ways, the modern incarnation of the credit card relies on the same trusts and understandings as its earliest counterparts. The credit card is not cash, but a representation, sometime of resources that don't yet exist. The credit card taps into a history of human commercial interaction, created by necessity and re-imagined hundreds of times on its way to 2006. In the future, many predict that we will be living in a paperless society. Many people believe that every money transaction will be purchased with a credit card from a persons cab fair to a candy bar at a vending machine. The credit card has and continues to stand the test of time.

Global banking involves similar operations as local banks do. However, global banking usually deals with money and foreign exchange; whereas local banks concentrate on lending, asset management and consulting services.

There are numerous ways in which you could segment the banking industry. One of the ways could be the sector in which the bank operates. For example, you could have agricultural banks (Credit Agricole) or employees bank (any credit union). You could also do the segmentation by fields of activities. Such as commercial banks (Citibank) or investment banks (Goldman Sachs). Commercial banking covers services such as cash management (money transfers, payroll services), credit services, deposit services and foreign exchange. Whereas, investment banking is in charge of services like asset securitization, coverage of mergers and acquisitions, securities underwriting, etc. However, because of the deregulation of the financial sector, some of the commercial and investment banking institutions are competing directly in money market operations, private placements, bonds underwriting, etc. It is, however, believed that all these segments are secondary to the geographical segmentation of the global banking industry.

When defining the geographical segmentation it is probably best to start with the main financial markets on the globe and its corresponding financial institutions. In Europe, for example, we have the ECB which is in charge of monitoring the monetary policies for the Euro zone. Thus, the initial function of the 12 national banks, that are members of the Euro Zone, is put in question. So, it is simply a matter of time until there are some few but powerful financial institutions that are going to monitor huge blocks of our financial globe. Even in the USA, where there is no national bank, there nonetheless is a strong will to centralize the various commercial banks, which at the moment are estimated to be around 8000. During the period 1984-1994, the number of US banks decreased by 30% due to successful mergers and acquisitions.

Moreover, a big change in the structure of the global banking industry is the development of world Islamic banking. 10 years ago Islamic banks accounted for only US $50million, now they are spread in 75 countries and account for US $250million, which represents 15% of the global banking industry.

Another trend in the structure evolution, which is worth mentioning, is the retailers and automobile -makers like Mitsubishi that become banks.

Innovation and product development:

Naturally, any change in the financial environment stimulates new innovations. One of these innovations is increasing liquidity. When a bank decides to go global, it is naturally catering to needs and demands of more customers. This induces a greater demand for liquidity. Yet, another change is the reduction of agency and transaction costs. As market size increases, the cost of transactions increases as well. Thus, minimizing costs will be a major issue for banks. One of the ways in which this might be achieved is by economies of scale. This means bundling together basic instruments such as funds of investors (creating mutual funds). Another way is to computerize majority of the systems. This falls under the Business Process Re-engineering. Virtual banking is also a big part of the cost cutting innovations.

Another innovation that banks need to use is circumventing regulations and internal constraints. One way to bypass the reserve requirement constraint was to establish money market mutual funds. These are not considered as deposits and thus require no interest payments. Hence, they are not subject to reserve requirements. The restrictions on interests can be leapfrogged in the same way.

With innovation the arrival of new products is inevitable. Banks are engaging heavily to attract customers with their new products and opportunities. Retail and clients' services are listed right at the top of a modern banks priority. As said before clients are becoming more and more demanding and force the banks into finding new ways of satisfying them. What is new today is standard tomorrow. Such new products include the arriving of ATM machines and their evolution from cash-dispensing machines into financial service depots, and telephone baking, which allows customers to arrange from their phone for account balance statements, transfers,, time deposit transactions and application for a variety of banking transactions. Some banks have even cut the time for loan approval. The Bank of Ryukyus, Japan approves a loan in 15 minutes. Banks are also keeping a look out on asset management since this is proving to be a rather prosperous market. People of today are much more aware of how they can use their assets to create a greater wealth; hence banks need to readjust their product line. However, there are numerous other products that banks are starting to integrate into the markets now. Such as trading and positioning (e.g. Commercial Bank), risk management products or financial engineering and structured finance (hedge funding).

When people apply for credit cards, lenders check them out thoroughly, so it's not surprising that many people get turned down. Here's a guide to what lenders look at when deciding whether you qualify for their latest credit card deal.

What's In A Name?

First of all, credit card companies will search to see if your name is linked to any outstanding fraud cases. This could be bad news if you share a name with a known fraudster. Next, they'll look at your address. If that has been linked to any fraud or bad debt, it could count against you. That's why some people publicly disassociate themselves from others in their households who might not be good money managers.

Lenders also check to see of your address is on the electoral roll and whether there are any County Court Judgements (CCJs) against you. If you're clear so far, then you've passed the first hurdle.

Delving Into Your Credit Report

Next, lenders will look at the information held by the credit reference agencies. These agencies (of which Equifax and Experian are the best known) hold records on all credit transactions made from the day people first open a bank account. Credit card agencies share the information given on applications. What's even more important is that they share information about how people have paid their debts. The credit report will show whether people have paid promptly, paid late or defaulted on payments. This is a key factor for lenders in deciding whether people should be granted additional credit.

Can You Pay?

This payment information will help lenders decide whether people are likely to be able to pay them back if they extend credit. They will look at how much people have already borrowed, whether they have paid it back on time and whether they have missed payments. They will also look at the number of credit applications made and assess whether people can afford to take out more credit. All of this information will contribute to the overall credit score. Lenders will use this to decide whether to approve a credit card application, and what interest rate and credit limit to set. After a certain period, provided the payments have been made properly, this credit limit will be increased.

How To Get A Better Credit Score

Apart from managing credit card and debt repayments properly, there are other factors that affect people's credit score. These include:

- Their age – older people score more highly - Their marital status – married people are seen as better risks than single ones - Whether they own or rent their homes. Owning a home is good for the credit score, while living with parents will not help much. - Being on the electoral roll - Avoiding CCJs, bankruptcies and voluntary arrangements. All of these signal that people are unable to mange their debt - Making sure they have no financial links with someone who is a bad money manager.

The story of the credit card is one of the most important success stories in world history. While today's consumer-driven economy has led to what some may call an over-abundance of credit card usage, the invention of the credit card stems all the way back to the nineteenth century. The concept of a credit card was first espoused by Edward Bellamy in 1887, in his utopian novel "Looking Backward" and its sequel "Equality". This idea rapidly developed into a tangible phenomenon: in 1914, Western Union began issuing its most regular customers with charge cards, and the industry grew even further during the American boom economy of the 1920s, for the specific purposes of selling more fuel to car owners. In 1938, companies began to accept each others credit cards, expanding the industry even further.

In 1950, Ralph Schneider and Frank X. McNamara began using the credit card to pay merchants, in order to consolidate multiple purchases. Originally founded as simply Diners Club, their company is now known as Diners Club International and was the first independent credit card company in the world, closely followed by American Express. In 1958, the Bank of America created the "BankAmericard", a product which eventually became, together with "Chargex", the modern Visa card. Mastercard was first issued in 1966, when a small group of credit-issuing banks established "MasterCharge". 1966 also marked the advent of the credit card in Britain, and APACS, the UK Payments Association, has recently issued a guide celebrating the 40th anniversary of the credit card.

It is important to note the differing trends in the take-up of credit cards around the world. In the US, the highly consumer driven economy of the early twentieth century meant that the use of charge cards quickly became common practice, and they were soon to be an institutional part of everyday life. In Britain though, while the take-up of the credit card was in general slower, the same pattern has emerged. APACS estimates that there are currently 31.6 million credit cardholders in the UK; that's an average of 2.4 credit cards per person, with major credit card companies like Barclaycard credit cards continuing to bring out newer, more flexible offers for customers. Indeed, the abundance of credit card companies in the market has inspired a whole set of credit comparison sites, such as Moneynet's credit card comparisons, so consumers can make more informed decisions on which credit cards to use.

Yet in many European countries, such as Germany, France and Switzerland, the take-up of credit cards has historically been much slower. It was only in the 1990s that credit card usage statistics reached anywhere near the levels achieved in the USA, Canada or Britain. In many of these countries, the acceptance of credit cards is still strongly tied to the perception of the banking system, whether or not they are generally trusted. But in a strange change of trend, new chip-based credit cards were introduced much faster in places like France, partly due to the nature of the legislative framework surrounding banking system overdrafts. These chip-based cards are now seen to be important devices to guard against fraud, and will prove crucial in the future development of the credit card worldwide.

There are so many different programs for people with credit difficulties that no matter what your specific problem is, you will surely be able to obtain help from a bad credit loan lender. When it comes to mortgage loans, given that these loans are secured, your chances of approval are even better.

Causes For Bad Credit

Unexpected things can sometimes happen. An unforeseen layoff, divorce, illness, or other set of unfortunate circumstances can all contribute to bad credit. Even past irresponsible administration isn't impossible to overcome if you are trying to obtain a mortgage with bad credit (bad credit Mortgage loan).

Even those people with serious credit problems have successfully obtained a mortgage. While there are lenders who deal only with good credit applicants, there are other lenders that deal specifically with bad credit mortgage loans and home loans. Once you determine how much you can afford to pay each month for a new mortgage and any applicable taxes, the lenders can process your mortgage request and provide the best offer available.

Loan Purposes

While many bad credit mortgages loans are obtained to refinance the home, consolidate debt, improve the property, or stop foreclosure, there are plenty of mortgages for those with bad credit who simply want to own their first home. Whichever is the purpose of your desired loan, you can obtain one by applying with the right lender.

If you know that you have bad credit, this isn't always a problem while applying for a Mortgage loan. Just be prepared to discuss your bad credits honestly with your new mortgage lender. Each mortgage lender understands that there can be legitimate reasons for credit problems so they will probably still consider application acceptable.

To damage your credit is just too easy, some people don't have any idea of the implications involved in credit and how it works. When you apply for any type of financial product on a large scale then you will most likely be on credit for that product whether it be a mortgage or loan. The problem is that even the smallest things can damage your credit to extreme lengths, from late payments to missed payments and defaults, even arrears. So what do we do if our credit is so bad that getting credit is a very hard job, as well as being far more expensive? lets take a look at some options.

(1) Pay off outstanding debts

Paying off any outstanding debts will automatically aid towards the improvement of your credit, as long as the debt has been paid, even if late, you will find an improvement in your credit, but remember you may have to notify the credit agency involved that the debt has been settled.

(2) Make payment arrangements

Instead of leaving those debts in the closet why not make payment arrangements with the loan sources, even if its a small sum each week it helps keep your payment record on track aswell as preventing further late payment charges and or court action.

(3) Do not apply for any further credit

Applying for further credit will only leave your credit file in more tatters, borrowing lumps of money to pay of other debt will only dig you deeper and deeper into debt. The best thing you can do is avoid applying for further credit, every application you make that fails will leave a footprint on your credit file, this footprint will show other lenders where and why you were refused.

So, you say you’ve got a small business and you’re looking for a credit instrument that could tailor itself to your business requirements? Well, your search ends here. Small business credit cards fit right in, helping you separate business and personal expenses.

A study by the Tower Group reports that two out of three small businesses use a small business credit card for purchasing and financing. So why are small business credit cards so prevalent? Small business credit cards offer small businesses a crucial edge allowing small business owners to expand or limit the growth of their business, as needed, providing the flexibility necessary to match their company’s growth needs.

Small Business Credit Card Edge

Help with Your Cash Flow: The best use of borrowed finances is to assist with month to month cash flow. Small business credit cards help you get the much needed credit to help your business grow while providing a margin of safety for your cash flow needs.

Maintaining Independent Accounts: Mixing your personal and business transaction accounts could lead to poor money management and potential tax problems. With a small business credit card, you’ll be able to maintain separate accounts on your personal card.

Help Balancing Your Books: This one is thrown in for free. With your card company maintaining an ongoing transaction record, you will have a convenient record of all transaction items that can be reconciled at tax time. Simply have the credit card company provide you an itemized list of all purchases made using their credit card and you’ll have some built-in transparency on all of your spending activities and financial accounts.

Build Your Credit Limit: Small businesses looking to expand need capital. You card provides your business with an opportunity to build your credit limit with consistent use and repayment over time. Access to more capital offers financial muscle to help grow the business, providing larger income opportunities for the small business owner.

Pre-Set Employee Spending Limits: For businesses wanting to keep a tight watch over their finances, these cards usually offer preset spending limits for employees, providing an excellent check and balance system for all your company expenditures.

Take Advantage of Special Offers: The competitive market has forced credit card companies to throw in special discounts and rewards programs. By examining the travel and entertainment requirements of your company, you will be able to grab offers that can help reduce your expenses through the use of reward point systems.

Tips for Selecting Small Business Credit Cards

If your existing business partners provide a small business credit card, it is probably a good idea to stick to them as you are more likely to get favorable rates and credit lines with an established credit line. Late payment and other such penalties will have to be borne by the company and not the employee. Therefore, give cards only to employees you absolutely trust and only provide credit limits that are in line with their expenditure requirements. Make sure the card you choose is widely accepted so that it helps meet everyone’s expense item needs.

Small business credit cards are quickly establishing themselves as an efficient way to increase capital and buying power for small businesses. While this calls for responsibility in its management, a small business credit card could go a long way in changing the face of your business for the better

With rights come responsibilities. And this rule applies to college student credit cards as well. These small pieces of plastic look innocent enough but come with their share of pitfalls. College days are colored with long hours of studying and longer hours partying with friends and classmates. And, if you are not careful, college days will also be marred with credit card bills that carry the threat of thousands of dollars of debilitating debt that will stay with you for some time to come!

This bleak picture should by no means prevent college students from using credit cards; it should only help students to avoid misusing them. If you know how to keep the key rules in mind and keep them in control while planning your purchases, you can master the art of handling credit cards and be able to use them effectively and to your best possible advantage.

College Credit Cards: The Painless Plan

- Plan a budget: Firstly, figure out your weekly and monthly expenses. These are usually food, books, and transportation expenses. College student credit cards, like traditional cards, provide monthly billing statements that should help in determining your overall budget.

- Stick to the budget carefully: Plan to use your credit card to meet just these key expenses. Remember that the trouble usually starts when you do not meet your monthly payments. This problem can be easily avoided if you plan your credit card expenses well in advance. This means preventing debt from building up and paying your credit card bills on time.

- Use your credit card only for major expenses. College student credit cards should usually not be used for everyday expenses but reserved for the big buys or emergencies only. Use them for long-term purchases such as furniture and books.

- Don’t splurge: If you don’t have money in your wallet to meet miscellaneous expenses, then don’t buy them at all! Buying beer for your friends, purchasing CDs on the Net and buying soda can all add up, even if they seem inexpensive at the time of purchase.

- Don’t let your parents help you: Be responsible and mature enough to control excessive expenses without calling up Mom and Dad to help bail you out. If you are old enough to use a credit card, then you should be wise enough to use them responsibly.

College Student Credit Cards: What is In It for You?

If you think you can handle it, it is time to take a closer look at why you should make the effort to learn how to handle a credit card:

- A credit card can help you make purchases online or over the telephone.

- Credit cards are critical during emergencies.

- They can also help you finance your larger expense items.

- You can build your credit rating with responsible use, which will be helpful later while making business investments, buying your first house, and even when getting your first job.

Get a Head Start

So college student credit cards could be the perfect way to secure your financial future. Please do keep in mind that even in the student market, companies offer differing rates of interest and interest-free periods. So shop for your credit card wisely. Think of this as great practice for the future, when you might be juggling more than one card, student loans, and maybe even a mortgage on your house.

Once you have decided on a specific college credit card, it is important to understand how it works and the benefits you can reap from it. Keep a close watch on your bills, and figure out ways of paying the monthly bills. Watch out for better offers as well, because you don’t want to be stuck paying higher interest rates then you need to.