Posts Tagged ‘ credit cards ’

How to Avoid Credit Card Fraud Online

Guest Post

Every day, more than $2 million is stolen from American consumers and credit companies via fraud. Chances are you’ve either experienced it, or you know someone who has. While most cardholder agreements don’t hold you accountable for all of the loss that can occur with credit card fraud, you still need to be on your guard. Undoing fraud can be a real pain in the neck, and every incidence of fraud leads to higher rates and retail prices.

More than a third of that fraud occurs online. Scammers use a number of techniques to get your credit card number and use it for their own ill-gotten gain. So, how do you protect yourself and avoid credit card fraud online? There are three simple steps you need to follow:

Step One: Know how it happens

There are a number of techniques thieves use to commit credit card fraud. Here are a few:
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5 Reasons That A Balance Transfer Can Save Your Financial Life

Guest Post by Bill Hazelton

You’ve heard about them before. The marketing for those 0% balance transfer credit cards is simply unavoidable with the ubiquitous TV, radio and online ads touting the “interest free” benefits of balance transfers.

Truth be told, when properly used, balance transfers can offer significant relief from the sting of high interest rates and can help consumers break the debt cycle and recalibrate for a healthier financial tomorrow.

But where does the rubber hit the road with these cards? Is there a catch? Are they really worth it?
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Five Reasons You DO Need a Credit Card

By Kevin M

I’ve written much on the subject of credit cards—mostly that they aren’t your friend, but more like having an enemy living in your own camp. I’m not backpedaling on any of it; credit cards have been the enabler that has led many to financial ruin. But are there times when you’re better off having a credit card?

Absolutely. Even a zealot like me is prepared to admit to that.

There are at least five reasons why having a credit card is a “must”—just as long as you don’t overdo it by running up your balance and applying for- and loading up on- more cards. (No, credit card rewards isn’t one of them—I’ve never bought that argument.) Used responsibly, there are situations in which a good credit card is well worth having.
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10 Reasons Why People Can’t Get Out of Debt

By Kevin M

Everybody knows that too much debt is bad; the financial universe is filled with blogs, experts, and gurus who tell us as much and even how to get out. So why are people still unable to get out from under? Is it because debtors behave badly, that they fail to adequately confront their credit problems—or are they just plain lazy?

Maybe, possibly in some cases, but I think there’s a lot more to it, and by the time you’re finished reading this list, you may have a better understanding as to why—if you’re deep in debt—you’re having such a tough time getting out of it. Knowing what you’re up against is the first step to solving a problem, and only when you do can you make any real progress.

1. Lack of sufficient income to do so

A lot of people are making less money than they were just a few years ago. They were making more money when they incurred their debt, but now the lower income level has them in a trap where they have barely enough money to pay living expenses, let alone pay off debt.

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Credit vs. Debit: The Fraud Protection Debate

Guest Post

I could tell you that fraud only impacts about 0.05% of all credit and debit card transactions. I could explain that even though consumers are only liable for at most $50 in unauthorized purchases, all major credit and debit card issuers provide $0 liability guarantees. I could point out any other statistics as well as the long list of rare events that are more common than actually losing money because of card fraud, and it still wouldn’t matter.

Fraud is one of those things where the statistics aren’t really relevant because the only sample size that matters, it seems, is one. We’ve all heard the horror stories—which, by the way, are usually at least two parts tall tale, one part truth—and don’t want the same trouble to befall us. As a result, I continue to hear the following question on a regular basis: Which will better protect me from fraud, a credit card, a debit card or a prepaid card?
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Ten Great Ways to Use Credit Card Rewards

Guest Post

Many frugal experts will shy readers away from using credit cards because it can be easy to overspend. But credit card rewards can actually help you save.

Here are ten ways to use credit card rewards to benefit you:

1) Statement credits: Some cards, like the American Express Blue Sky card, allow you to use your points as a statement credit toward qualified travel purchases, including any flights, hotels, or car rentals. If you do any traveling at all, this is a useful reward that is basically like cash toward your statement.

2) Gas rebates: A straightforward reward for something you always use, gas rebates can be an easy way to make sure you are using your points for something you will use.

3) Fund your IRA: Some cards will deposit your cash rewards directly into an investment account or 529 college fund. For example, the Fidelity Rewards American Express Card will make a $50 deposit for every $2,500 in purchases.
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How can air miles credit cards get me travelling further?

Guest Post by Mike Brains

When choosing a credit card, many people will go for the cards that offer the best rewards. One of the most common rewards offered by credit card providers is air miles. This can help you save money when booking holidays or business travel.

Ever time you make a purchase using an air miles credit card, you will accumulate points. These can be used to book flights for free. Also, many credit card providers offer a large amount of air miles for taking the card, before you even make any purchases.

Saving money with an air miles credit card

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Paying Down Your Debts to Increase Your Credit Score

Guest Post by Darin Sewell

When it comes to fixing a bad credit report and boosting a low FICO score the first question out of most people’s mouths is how long is this going to take. Truthfully that is a hard question to answer mainly because each individual’s credit and personal situation are different and are going to require its own approach and amount of work. But in most cases you can make some good progress inside of 3-6 months, but you have to make sure you follow along with some proven credit repair principles. Let’s take a Look at one of these principals below, debt reduction with a twist!

Before you can increase your credit score you are going to have to look at the amount of total debt that you currently have. If you have bad credit chances are that you have many accounts that are maxed out or near the account maximum so you need to find a way to get this debt paid down.

Why Too Much Debt Hurts Your Credit Score

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Get the RIGHT Loan for Your Needs


Guest Post by Jodie McDonnell

Many people across the United Kingdom fall victim to financial strife, often due to factors that are out of their control. A loan—when taken out for the right reasons—can help individuals who are in need of money for obtaining a mortgage, car loan, or other loan among other things.

Even more important is getting the right loan, a loan that will solve your problem and not make your financial situation worse. In order to do that, you need to approach borrowing with the proper attitude and a few tools that will help you to get the best deal to work within your circumstances.

Many times the reason people get into credit difficulty happens at the very time a loan is taken. The person could have been borrowing more than he could afford to repay, or doing so with stiff repayment terms he could never meet. You’ll only have one opportunity to prevent that from happening, and that’s when you are applying for the loan. It is therefore critical that you get this right at the very beginning when it counts most, and that means getting the very best loan you can.
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How Can a Credit Card Save You Money?

Guest Post by Mike Brains

OK, we agree that being in debt is not a good position to be in, and that you should do what ever you can to get out and stay out of debt. So far so good. But what if you are in debt, and not in a position to make it go away anytime soon—what options do you have?

How can credit cards help?

Using credit cards may have contributed to getting you into a tight spot in the first place—or perhaps they were just the vehicle you used to get there—but could they also prove to be a way out? Used responsibly, they can actually help.

Admittedly it isn’t very often that you hear the term ‘credit card’ and ‘save you money’ in the same sentence, but there is a way in which you can use credit cards to save you a decent amount of money in a relatively short period of time.
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