Credit Cards Articles

While we have heard and read of all the changes with the implementation of the CARD Act, there are still millions of people that may not know how they will personally be affected. If you are one, fear not; there is information available that can help you get a complete understanding of the new law and your plastic.

Bankrate.com has recently released their 2010 Credit Card Guide to help current and future cardholders gain valuable information when it comes to their credit cards. It also offers useful information on the two features that are drawing the attention of millions of cardholders, which are balance transfers and reward programs.

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If you carry a balance on your credit card from month to month and are looking for a way to save money on interest payments, you might be interested in balance transfer credit cards. The idea is simple enough. You get an introductory offer with low interest on balance transfers, and that gives you time to pay down your balance while saving money on interest. How can you find the best balance transfer credit card for your needs though?

Here are several factors you should consider when comparing balance transfer cards:

1. Balance Transfer Rates

The balance transfer rate (usually a temporary introductory offer) can be a lower rate than you’re paying now, or even 0% interest. N

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In a world where a growing number of people are looking for more convenience, products that focus on personal finance seem to get more interest then most. So when a company known as TSYS (Total Systems Services, Inc.) decided to announce a solution that gives cardholders the ability to pay from multiple bank accounts all from one card, many in the financial industry are paying attention.

TSYS has introduced a “hybrid” card that allows consumers to choose how they want to pay for products and services with their plastic. While it sounds similar to a debit card from your financial institution or one that is decoupled, this card is much different.

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Many people are finding it better to close their credit cards these days. Considering that credit cards aren’t as attractive as they once were, I don’t blame anyone for wanting to get rid of a useless credit card. But, make sure you do it the right way.

Wrong: Call customer service and say “Take this credit card and [bleep]!” Hang up. Cut up the card. Ignore future mail and phone calls from the credit card company.

Right: Pay off your balance completely. Make sure closing the card won’t hurt your credit. Call to request your credit card to be closed.

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Feeling gluttonous? Here are 10 meals that will pack on the pounds and thin out your wallet.

Mélisse‘s Mac and Cheese

Cost: $95

If Kraft can’t kick your mac and cheese craving, Mélisse in Los Angeles offers a pricier blue box alternative. Crafted by chef Josiah Citrin, the dish replaces macaroni with fresh tagliatelle, covered in white truffles and Parmesan cheese.
 
Barclay Prime‘s Philly Cheesesteak

Cost: $100

Forget the Liberty Bell. Philadelphians take real pride in their cheesesteaks, which helps explain the high price tag on this swanky sandwich. Ba

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One of our forum readers, Nathan_K, has a charge-off from his gas company. He wants to pay in exchange for having the charge-off deleted from his credit report. Do you have any suggestions for how he could convince the gas company to remove the charge-off in exchange for payment? Help him out in the forums.

More in the Credit/Debt Management Forums:

• Can an old debt collection resurface on my credit report?
• Will my credit card co-signer be hurt by my bankruptcy?
• Post your credit and debt questions in the forum.

What can credit card issuers do to get cardholders to make more purchases? As this question would seem comical, it is one that has probably been brought up in every credit card issuers’ boardroom across the country. While it may seem like the answer is simple, now that many people have shifted to other forms of payment, card issuer may have more to worry about than lowering interest rates.

While lowering interest rates is one thing that could possible get consumers to start using their plastic more, it is only part of the answer. After a year of increased interest rates and decreased limits on majority if not all cardholders, many have had no other choice but to rethink how they will pay for goods and services. D

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