In most developed countries today, the credit card is used as a prime tool to purchase different items, whether by need or want. Besides, credit cards are far more convenient than carrying real money. From online purchases to paying your monthly utility bills, the credit card is a very convenient tool to purchase different items and to pay bills.

Because of the popularity of credit cards today, more and more credit card companies are also cropping up. Credit card companies and issuers compete to get the attention of potential clients in order to get more people to apply for their credit cards.

So, if you are planning to apply for a credit card, you will have a lot of choices on credit cards. However, because of the different perks and benefits of the different kinds of credit cards available, you have to consider that it can be quite confusing what kind of credit card you should get. So the next question would be what kind of credit card you should choose.

In credit card ads, you will see in bold and large letters that they claim to offer the lowest monthly rates. In fact, some even offer zero interest on their credit cards. However, most offers like this are only promotional and only last for up to a few months. After the promotional period, you will see that the interest rates will go up. This is why you have to take a closer look at what's being offered.

When you are shopping for a credit card, you should not be blinded with the different kinds of offers that seem too good to be true. When applying for a credit card, the very first and the most important thing that you should look for is the APR or the annual percentage rate. This particular factor will affect the overall charges that you will get from your monthly bills.

You have to remember that the APR will affect all the charges and not just the interest rate charges related to the credit card. Every fee that comes with the card, such as late payments, annual fees, cash advances, and purchases will be affected depending on the APR. The best kind of credit card is a credit card with a low APR.

This is why it is important that you should do a little research and comparison when getting a credit card. By doing this, you will be able to know which offers the lowest APR on their credit card. Although this may sound simple enough, the hard part is getting approval for your application. Usually, low APR credit cards can only be found on credit cards that require a high credit score.

So, before you even apply for a credit card with a low APR, you need to make sure that you have a good credit score.

You also have to remember that you have to ask about the APR. Ask whether it is fixed or is a variable. By doing this, you will know if the credit card APR you apply for will remain for some time. You also have to make it clear that you have to be notified in case the issuer decides to raise the APR. This will avoid unpleasant surprises, such as increased credit card bills.

These are the things you have to know when you are applying for a credit card. Always remember that the most important factor about a credit card is the APR. Make sure that you always choose the credit card with a low APR.

Have you been "eyeing" a fancy new car, or how about a brand new house? Have you come to the conclusion that it is time to get it? Well, if you have, reach into your bank account grab a few thousand dollars and put a down payment on that house or car. You don't have enough money for a down payment? Relax, most people don't have thousands of dollars they can just pluck out of the air and use to buy a new car or house. If you haven't figured it out yet, here's a hint, you need a loan. It would be great if acquiring a loan was as simple as saying it, but that is not the case. In order to be approved for a loan, your credit score will be reviewed and if you haven't kept up with your bills and payments, you might be in some trouble.

Not jail time trouble, but financial trouble, and that loan you needed just might be out of reach because of your credit score. So, what is a credit score? A credit score is a number based on your credit report and everything in it. All of your larger financial transactions will be kept in this file, which is known as a credit report. Bills you have promptly paid on time and bills you have paid late will all be included in the file, such as as credit card payments, car payments, mortgage/rent payments, etc. All this information will be calculated by a statistical model and, therefore, your credit score is born.

Your credit score will effect many of your financial decisions, as well as your available financial options. A person with an average, or above average, credit rating will not have too much trouble when applying for a loan. However, someone with a very lower credit score will usually have a great deal of trouble finding a bank to get a loan from. Usually, those with low credit scores need to have someone to co-sign on the loan, and that person will need to have a much better credit rating than you. The interest rates you receive on the loan or your mortgage may also be manipulated by your credit score. Basically, the better the credit score, the lower the interest, or vice versa.

Many do not know this, but there is more than one type of credit score. The largest and most well known of these credit score companies and providers of free credit reports, in the United States at least, is FICO which stands for Fair Isaac Corporation a provider of the FICO score who are the ones responsible for coming up with the mathematical formula used to calculate a persons individual credit score. Unfortunately, this whole credit score business costs money, and in order to find out what your score is, on a regular basis anyways, your going to have to put up some cash. Luckily, there are many different sites that offer many different prices.

However, if your in a hurry, head on over to the FICO website(below) and find out your credit score now, they offer a free trial. Well, what are you waiting for? Find out now!

Credit card companies earn profit from your debts: the more you owe them, the more they benefit. Makes sense, right? Of course it does and it is a game that is tilted in their favor, not yours, because they set it up.

The only situation where they lose is if you file for bankruptcy, and that is not chosen as a promising solution for paying off the debts unless you find yourself in a totally miserable debt conditions.

But there are some quick and easy things you can do to win the Credit Card Debt Game. Let's cover them right now...

Which Credit Cards Are Best?

You may choose your weapon of choice (credit cards) for the credit card game by searching through a variety of different cards. There are hundreds of companies that offer credit cards, and the their interest rates vary from the lowest (may be a zero percent) to as high as 40%.

Credit Card Late Fees and Service Charges

A similar option exists with regards to the late fee and the service charges on the credit cards. The late fee for the most common credit cards vary from the lowest $15 to the highest $39.

If you keep a regular watch on the offers from various companies, you will notice that there are many attractive offers from most of them that will help you save a significant amount of money over the long haul.

Ask For a Better Deal

It is not necessary that you change your bank or credit card company for getting a bargain on your credit card debts. You may simply call them up and talk to them as an educated person who is aware of the trends in the market.

Express your concerns to them about the higher interests you are paying them in spite of being an old customer of their bank or institution. If you are a regular user of the credit card and have been paying on time, it should not be that difficult to get a good deal.

They will rather give you a break on the Annual Percentage Rate than give up a good-paying customer. In such cases, you will not only get your interest reduced significantly without getting into another complicated procedure of getting a new card, but also will get a good deal on a potential increased credit limit.

Say NO to Annual Fees

There are many credit cards that offer zero annual fees. Wherever possible, you should hunt for and bargain for a card with zero annual fees.

However, if you wish to get some special benefits such as the frequent flyer programs and other privileges, you may have to pay the annual fee.

Watch Out for the Zero Percent Transfer Trap

Beware of their zero-percent interest offers. It can be a trap if you do not read the fine print. You alway shave to read between the lines of the clauses in the agreement.

Most of these zero-percent cards charge a much heavier interest if you delay your payment or after a certain amount of months - most give you the zero-percent rate for six months to a year. After this time is up, they raise the interest rates dramatically...and you fall into their trap.

You can win the Credit Card Debt Game just by playing smarter with your credit. It all comes down to a few critical steps, which are easy enough to learn.

Again, the steps are: Choose the Best Cards, Watch Out for Late Fees and Service Charges, Ask for Better Deals, Say No to Fees and Watch Out for the Zero Percent Transfer Trap.

If you do these few steps correctly, you should be on the right path to paying off your debt and winning the Credit Card Debt Game!

Many people balk at having credit cards because they think that by owning one, they would immediately spiral into the depths of bankruptcy. Admittedly, this may happen – but only if you are unable to control your urge to have retail therapy at every instant; and if you do not know how to take advantage of the various value-added yet cost-efficient promotions credit card companies offer their members. If you know how to handle a credit card, you may be surprised to find out that they, just like your friends, can actually make your life easier. Don’t look at your cards as potential menaces because, if used wisely, these cards can be your best (financial) friend.

Choosing Your Friends

When you make friends, you do not try to befriend the prettiest or most popular person around, do you? You normally look for someone who has similar interests as you and one who will value and take care of you (as you would do them). The same principle applies when choosing a credit card. If you are planning to apply for one, don’t get the most popular brand or the one all your friends use, select one which best matches your personality and your lifestyle. There are several brands available in the market and the best way to choose which is best for you is to evaluate what each card has to offer. It would be to your advantage if you placed cards that offer low APR and waived membership fees (upon approval of your application) on your shortlist. Once you’ve narrowed down your choices, go through the fine print and find out which of these cards can give you valuable extras which you can use and make the most of.

Credit card extras come in different forms. There are cards that have tie-ups with retail establishments and, for every dollar spent on these places, you can get a freebie, are entitled to special discounts, be given a rebate or accumulate points (or mileage) which you can redeem at a later date. Select the card which provides services that you can actually use (what’s the point in getting mileage points when you hardly even travel?). This way, paying your credit card bill would not be so much of a burden.

How Your Friends Help

When we are having financial difficulties, don’t we normally run to friends for help and don’t they deliver? The same goes with credit cards! If you think this is hogwash, consider this: Imagine yourself being weighed down by having to shoulder high interest rates on your other credit cards. You don’t want to be burdened by this anymore so what do you do? Instead of pawning all your valuables and asking “alms” from your friends, why not consolidate all your bills and transfer these to a low-interest (or no interest) credit card. All your bills will be settled immediately and you can close off those cards and forget all about them. The amount that you have transferred will still have to be paid but you will have a better payment schedule. Now, isn’t that great?

It’s Okay to Have More Than 1

You can have more than 1 credit card and still not fall into debt: after transferring your outstanding balance onto another card, it would be better if you set that card aside and not use it to make any other purchases. You’d be better off using another card (one with a smaller credit limit, or one that has pre-paid credit) for your day to day necessary purchases.

Maintaining Your Friendship

When you have found the right people to be friends with, don’t you work hard to maintain that wonderful relationship? The same is true when it comes to your friendship with your credit card. Maintaining a relationship with a credit card is really not at all difficult. All you need to do is use your card wisely and, to avoid falling into debt, spend only what you can afford to pay, and to pay the card in full at each due date. If you are able to abide by these simple rules, you are sure to have a lasting and fruitful financial relationship with your card.

Where to Find Them

If you don’t have time to collect information materials from banks and would rather review card offers and apply on line, you can do so. There are several websites designed specifically for those who are on a card-hunt. Just like online personal ads, these websites summarize all the benefits you will get from a specific card and usually, at the bottom of each, there are buttons you can click on when you want to make the connection.

So here you are, thinking about buying your first home, getting your first car, or maybe even trying to refinance the mortgage you obtained a few years ago. You think you might have issues on your credit report, or you know that you do. You may have no idea about the status of your credit report or your all-important credit score, or you may have been told your score is too low to qualify. What can you do?

You need to get your credit repaired and restored. By following the five steps outlined in this article, you will be well on your way to the kind of credit that gets you noticed for the right reasons, not the wrong ones.

The first step is to obtain a copy of your credit report. If you have already applied for credit, the company or person that obtained your report should be able to give you a copy. If you do not have access to your report, you can contact any of the three major credit repositories and obtain a free copy of your report. This is your right under the Fair Credit Reporting Act (FCRA). Please see the links below to obtain your credit report. It is important that you obtain all three, as some entities do not report to all three credit repositories.

The second step is to analyze that report. This is a big problem as the reports are not necessarily easy to read or understand. It has been shown that 1 out 3 credit reports have information being reported that the individual had no knowledge of. These unknowns could be past medical bills that you thought your insurance paid for, unpaid traffic tickets, or even unpaid library late fees. Worse yet, many utilities are now reporting your payment history to the credit repositories.

The third step, once you have identified the negative items, you have to act. For items you know are paid, and not being reported as such, you must contact the credit repositories reported the incorrect information and petition them to correct it. The steps to follow in this process can be found by clicking the link below, or by searching "Fair Credit Reporting Act" on the internet. Typically, you will want to provide proof of prior payment along with your request for investigation. This can be done in letter form, or online with the various repositories. FCRA requires that the repositories investigate your claim within 30 days of receipt and provide you with the outcome of their investigation.

For those accounts that are reporting as unpaid, you must make contact with the company reporting the derogatory information and determine if you do indeed owe the money. If you do owe the money, make arrangements to get them paid. In all cases, make sure you obtain proof of payment from the creditor. Cancelled checks or credit card receipts may not be enough if you have to challenge the reporting later on. You should be diligent in demanding that the creditor update your credit report, showing a $0 balance and paid date.

The fourth step is simple. Make your payments on time! You will never enjoy the benefits that a good credit rating can provide if you choose not to make your payments on time. If you are faced with the choice of making a minimum payment on time or making a larger payment late, always choose to be on time.

The fifth and final step is get professional help if you need it. If you have several negative items on your reports, or if you have many things that you know are paid, but lack the proof of payment, you may need to employ the services of a Credit Repair and Restoration Provider. As a Certified Credit Repair Counselor, you will find a link to more information about the credit repair process service I provide below.

In conclusion, you will find many closed doors if you do not have good credit. However, if you choose to have good credit, you will find many doors open for you, welcoming you to the many opportunities that a good credit report can provide. Make your choice today!

With the advent of the Internet, almost everything has been rendered deliverable with digital speed.

You could order items online, for example, and the same would be shipped to your doorsteps the next day. You could pay your bills through online channels as well.

And most definitely, you could apply for a credit card online, a process that gave birth to a tag for the cards acquired as such: online credit cards.

Clarifying The Term "Online Credit Cards"

The term "online credit cards" would be a little confusing for most. It shouldn't be taken to mean that one would be able to procure online credit.

Only the application and the usage are referred to by the term "online credit cards" because the same can be applied for on the Internet, and correspondingly, can be used for transactions in the World Wide Web.

Applying For Online Credit Cards

Everything that is needed for conventional application for a credit card can also be done online. The requirements can be submitted digitally, and the online credit cards, once they are approved for distribution, can be delivered to the successful applicants.

These online credit cards are made accessible to the general masses because of such a convenient process. People can now avail of online credit cards without leaving the comforts of their own homes.

There are a lot of establishments on the Internet who offer online credit cards for anyone who is interested and who is qualified to be extended such a credit. A quick search on any of the search engines on the web would reveal a great number of these online credit card companies. It's just a matter of doing your own due diligence and choosing the right online credit card which is perfect for your needs.

Using Online Credit Cards

The rule is simple: you cannot do business over the Internet without online credit cards.

Digital transactions would need a manner by which money can be conveyed digitally as well. Online credit cards have specified numbers and particular details. You would only have to type these in to be able to pay for goods or services procured in the World Wide Web.

The problem with online credit cards and their usage has always been about security. In the earlier years of the Internet, the details in many online credit cards have been hacked. As a result, the thieves would be able to use the accounts of the said online credit cards for their own purposes.

Thankfully, modern advances in the World Wide Web have effectively curtailed this problem.

Secured Socket Layers (SSL) with 128 bit and 256 bit encryptions have been introduced to guarantee the safety of the use of online credit cards over the Internet.

To determine whether a website is fit and safe to accommodate online credit cards, simply check if it makes use of SSL.

This can be determined by the appearance of a padlock icon on the lower right screen of your browser window. If the website has such an icon, you could rest assured that online credit cards would be protected.

Credit card companies are changing. There are so many of them out there that they need to do things that set them apart from the tons of other credit card services available. In addition to being a major credit card company, Discover card services also offers a great scholarship program to high school juniors. Their support of education is one more thing to like about the Discover card.

This scholarship focuses on more than just academic success. Any high school junior that has at least a 2.75 grade point average can compete for this scholarship. Discover card is rewarding students for being more well rounded instead of just having excellent grades. There are lots of well-deserving high school students that do many other things besides attend school. Discover card services awards nine $2,500 scholarships in each state, and nine national scholarships in the amount of $25,000. The students who win the nine state scholarships in each state are eligible go on to compete for the larger $25,000 scholarships. The scholarships can be used at any college, university or post-high school training institution, which makes it a very good scholarship for any high school student because it accommodates a variety of possibilities for higher education. It takes into consideration the diverse needs and plans of today's high school students.

The students need to provide information in several areas of their lives. The areas that are focused upon include special talents that the student has, leadership roles they have held, the types of community service they have done, and obstacles in their lives that they have successfully overcome. They must have reference letters, as well.

Each student is also asked to outline their future career goals and how they plan to accomplish these goals, and how their past achievements will help them in the future.

When the students do arrive at college, they can then apply for a Discover student card. This card is geared toward students that have limited incomes and fewer resources. This card has no annual fee, has a competitive APR, and of course, gives cash back for purchases. Discover card services has online account management, and a student center full of information that teaches students about building credit for the future, using credit wisely, protecting themselves from credit card fraud and identity theft.

Discover card recognizes that college students need to learn how to become financially responsible while they are young so that they don't graduate from college with a lot of credit card debt, just as they are getting their first job.

The card also saves students money at many online retailers that sell books, music, movies and travel deals, al of which are things that every college student can use.

Have you ever really looked at your credit card and tried to figure out what that huge string of numbers really means? Do these card issuers have so many customers that your account number has to be 16 digits long?

You may be surprised to know that all those numbers you see actually do stand for something, and it's not just who you are. Let's take a look.

Most of the major credit card companies operate on the same system when choosing a credit card number. Other cards like gas cards, department store cards and phone cards go their own way. Let's concentrate on the ones that all play by the same rules.

The very first digit in the series will be a 3,4,5, 0r 6. This number designates the type of card as follows:

3 = a Travel & Entertainment Card like American Express or Diners Club.

4 = Visa and Visa-branded debit cards, cash cards, etc.

5 = MasterCard and MasterCard-branded debit cards, cash cards, etc.

6 = Discover

American Express and Diners Club use the second digit to identify the company. That means that Diners Club cards will start with either "36" or "38", and American Express cards will use either "34" or "37".

The remaining numbers in the series are used for different purposes depending upon the card type and issuer.

In most cases, the next group after the opening series of numbers represents the routing number of the card-issuing bank, the group after that is the user's account number, and the final digit is a check digit. The check digit is a number that is calculated by applying a special formula to all of the other numbers. The check digit is the result of that formula and is used as an anti-fraud check.

To keep things from getting too confusing, look at your card as you follow along for the next steps.

American Express

The American Express Card uses digits three and four for type (business or personal) and the currency of the cardholder's country of origin. The next digits from the fifth through the eleventh are account numbers.

Digits twelve through fourteen indicate the card number within the account and the last digit is the check digit.

Visa

With Visa, digits two through six represent the bank number. Beginning with the seventh digit and running through the twelfth or the fifteenth represents the account number and the last number is the check digit.

Since all Visa cards do not have the same amount of numbers in the sequence, the number of digits in a group may vary.

MasterCard

For MasterCard, the second digit, through to anywhere between the third and the sixth digit is the bank number. All remaining digits, except the check digit at the end of the series, identifies that cardholder's account.

Now that we've gone over it all, you're probably wondering why you were ever wondering in the first place. Just remember though, knowledge is power. Some things are just fun to know.

Although credit cards can be an invaluable financial asset, unless you use them wisely you will find yourself drowning in debt. However, if you use your credit card wisely then you can save yourself money and be able to purchase the items that you could not afford in one lump sum on your current wages. Here are some tips about how to use your credit card wisely.

Building a credit history

One of the best ways to use your credit card wisely is to use your card to build up your credit history. People who borrow and pay back the money responsibly have a much better credit history than those who never borrow at all. If you spend money on your credit card and then pay it back quickly, you will be seen as a good borrower and you will get better deals on other financial products like loans and mortgages.

Paying off your balance

Another sensible way to use your credit card is to only charge to your card what you can afford to pay back each month. Although this is not always possible because of large purchases or unexpected expenditures, you should generally try to budget to pay all or most of your balance back each month. If you can pay back your balance in full each month then you won't be subject to the high interest rates of your card. However, even if you can't pay back the whole amount, make sure you pay back more than the minimum payment. Paying only the minimum will leave you wasting money on interest and your balance will a lot longer to pay off.

Keeping cards at home

If you are having trouble with your credit card spending, then a good way to avoid the temptation is to leave your credit cards at home unless you really will need them. If you are simply going out on a small shopping trip, leave your cards at home so that you won't be tempted to buy anything extra. Only take your credit cards out when you really need them, or in case of emergency.

Balance transfers

If you find that your credit card interest payments are very high, then a good way to reduce this is to switch your balance to a card that has 0% interest on balance transfers for a certain period of time. This will mean that you can pay off the balance without having to worry about interest for the next few months.

Shopping online

Shopping online has become increasingly popular, mainly because of the convenience it offers and the low prices available. When shopping online it is important to always use a credit card to purchase items. This is because credit cards are much safer than other forms of payment, and offer purchase protection. This means that if something should go wrong with the sale, you have the ability to claim the money back from the credit card company. If you use your credit card wisely, then you will avoid getting heavily into debt and will have the freedom that using a credit card can afford you.

A 0% APR is essentially a credit card offered by credit card companies to their consumers with an 'annual percentage rate' (APR) of zero percent. However, this rate does not exist forever, and after a period that ranges between three to twelve months, credit card companies begin charging higher rates of interest. Therefore, the major factors to be considered are the duration of the no-interest period, and what would be the APR rate after the offer ends.

Advantages of owning a 0% APR Credit card:

Though 0% APR credit cards have a few catches, they can also prove to be advantageous for its users. The best way to assess these cards is by actually using one. If you pay off the monthly balance regularly, then the rate of interest will not be a major concern. Some of its main benefits are as follows:

- Cut down the interest rate: A 0% APR credit card is popular among users with heavy outstanding card balances. It helps them to slash the rate of interest incurred upon their debt.

- Travel benefits: A 0% APR credit cards offer travel benefits to its users. You could profit from this card if you travel by air frequently. Most companies provide bonus air mile benefits on APR credit cards. This could be as much as twenty-five thousand miles, merely by signing up and making your first purchase from this card. The travel facility could also be used for hotel rooms, meals and other additional alternatives. It also provides you with free gas discounts and rebates in purchasing a car.

- Cash back or reward benefits: Low APR credit cards also provide a system where you could get back a percentage of your purchases. You could get a reward of five percent for certain kinds of purchases you make.

- Paying off debt: Transferring your credit card balance that needs to be paid off to a new credit card with 0% APR would be a better money- saving solution, than holding on to the old card with a high rate of interest.

- Start up a new credit history: A 0% APR credit card can be used to establish a new credit history for a cardholder with a previous credit card debt. These cards curb the credit card usage, and initiate the necessity of spending within the budget. However, it might not be issued to people with a bad credit history.

Limitations of 0 percent interest APR credit cards:

A 0% APR credit card often comes with strings attached. Some of the major limitations are as follows:

- Usually, a 0% APR credit card offers the no-interest benefit for only a limited period, such as six months to a year.
- It might not allow you to transfer balances from high interest credit cards during the introductory 0% offer period.
- It could charge expensive fees for the process of transferring the balance.
- Some of these credit cards bear very high penalties for late payments, and automatically transfer you to an inconsistent APR rate.
- It often charges a very high interest rate once the initial offer period expires.

Therefore, although 0% APR credit cards may seem too good to be true, they do have a number of real advantages. While these promotional offers by credit card companies are useful, they need to be taken up judiciously.