Hence, You Need A Debt Management Plan

Category: Finance, Credit.

If you are burdened with a huge amount of debt and unable to cope with it personally, you would look for helping hand that can bail you out from this crunch.

If you had that ability then would not find it a problem to deal with the debt. Borrowing some money for short term will not serve your purpose as you cannot repay them within time. But that is not the case. Well, this is what you need as it will help you sort out your debt problem by providing you a suitable solution. Hence, you need a debt management plan. But it is easy said than done.

Yet, it should be remembered that the agencies that offer financial solution are there for business. With a number of debt help agencies engaged in the business of offering financial solution to people who are facing problem in dealing with their debts, it is not difficult at all to get a plan that can help you manage your debts easily. They are not charitable organisations to help people free of cost. For example, some of the agencies provide free debt advice to people who approach them for debt help. May be, to some extent their service requires no money. But an advice is not enough to get the problem solved. In this regard, the person who wants to take the plan must be careful about the fact that the plan or programme he is taking is suitable to his position.

You need a feasible debt management plan. It must be such that he can put it into use easily without facing any more problems. Rather, enough research should be made on this, keeping the necessity in mind. So, it is never recommendable to accept a debt management deal offhand. Further, one should execute it properly to be benefited.

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They Find The Way Out Of The Pit Of Despair Too Hard To Climb But Here Is Good News: You Can Get Out Of Credit Card Debt - Finance and Credit Articles:

Millions of people in the world have been bitten by the credit card bug and more victims are being added to the long list every day. That is possible if you are determined to get out of the pit you have sunk in and get a better hold of yourself.

A Past Mistake Like Non- Payment Of Earlier Loans, Not Allowed To, Is Hence Cloud Over Your Future - Finance and Credit Articles:

Many of us may have taken a loan in the past but were unable to repay it for varied reasons, some could be personal others financial.

Closing Credit Card Accounts

Category: Finance, Credit.

As one would expect, the most important causes of credit success or failure will always be payment history and total debt owed.

Many of these factors are not obvious even to the most intuitive of minds. Although together these factors account for about 65 percent of your credit, there are several other aspects of your credit report that lenders look at to determine your credit- worthiness. Here are 5 of the most overlooked factors that influence your credit. To most people this is not self- evident, but to lenders it makes perfect sense. The number of recent inquiries on your credit report. If you have a lot of recent inquiries from lenders who are looking to determine your credit worthiness, then chances are you may be overextended and short of cash.

If you re maxed out on your credit cards, then lenders may consider it a sign of one of three things: a) you re overextended and relying on your credit to make ends meet. The proportion of your balances to their credit lines. B) you re addicted to credit and overuse your credit lines. Closing credit card accounts. Or c) both. Closing an account has the effect of lowering the credit limit on your credit report. This being the case the credit scoring companies only see that a consumer is utilizing 100 percent of the credit line, thus affecting your credit negatively per point number Closing your oldest credit card account.

Since you no longer are charging anything to that account whatever your current balance is also happens to be the credit limit. Closing accounts affects your credit negatively, but since the impact is relatively minimal, it may be a necessary step to help get your finances under control. The length of your credit history is actually about 15 percent of your score, and having an account with some longevity can be a big boost. If you re forced to make a decision about which account to keep open( assuming they have the same interest rate and fees) , you should always hang on to the oldest account. Enrolling in a debt counseling service. Any time you seek outside assistance in managing your finances whether through credit counseling or debt negotiation, future lenders will be inevitably turned off. The only way to maintain a positive credit picture is by paying your bills on time and in full every month.

Unfortunately, there is no way to get around it since your enrollment is reported to the credit bureaus by your creditors, not by the debt management company. I know the last sentence sounds a bit contradictory. This is a source of debate, but to be conservative, you should assume that you won t be credit worthy until you ve established some positive credit history after completing your program. After all, how can you rebuild your credit history if no one will extend you credit? These are very easy to obtain, and on top of that, you re debt free. The answer is simple: gas cards and secured credit cards. A lot of lenders will gladly extend small amounts of credit to someone who has income and no other financial obligations.

Depending on the lender, it might take some time to qualify for the bigger loans, a mortgage, more specifically.

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What Matters Is That You Know Where Your Money Is Going - Finance and Credit Articles:

"A budget is telling your money where to go, rather than wondering where it went. " C. Hoover.

The Invention Of The Pre- Paid Credit Card Has Several Advantages And Disadvantages - Finance and Credit:

The invention of the Pre- Paid credit card has several advantages and disadvantages.

Using Your Credit Card Online Gives You The Advantage Of Purchasing Products Anywhere In The World - Finance and Credit:

With today s technology and the E- commerce, using credit cards on the Internet is now more practiced and favored by consumers and online businesses alike. On the other hand, you might get ripped off since you don t know the seller.

It Is A Simple Process To Apply For Credit Card Merchant Account Services

Category: Finance, Credit.

Did you know that could possibly multiply your sales receipts within a matter of weeks or months?

That is why you need to know more about the benefits of credit card merchant services. Of course, other factors will play a role in the overall success of this strategy, but many company owners claim that the simple step of accepting credit card payments increased their income dramatically in a relatively short amount of time. Basically, the premise of using credit card merchant account services works like this. You might even want to check with customers at some of the lending institutions to see if they are satisfied with their merchant account services. You find a trusted lender with experience in merchant accounts. You also can find online testimonials, although these may be biased when situated at the Websites of various lenders.

After getting objective feedback on several possible lenders, you can choose the one that seems like the best bet for your company. You could visit chat rooms devoted to topics like this one that are sure to be discussed among entrepreneurs or start- up business owners. It is a simple process to apply for credit card merchant account services. Some companies are so well known that they can afford to charge more for their merchant account services. After reducing your possible underwriters to three or four after searching the Internet or checking with colleagues, it then becomes a matter of comparing and contrasting benefits with fees. Others have recently added this option, so they might reduce, or omit certain, avoid fees in order to get your business.

Read all the terms carefully so that you understand how the account works, how much it costs, and what the potential glitches might be. However, you may have to pay these fees after the first year or another type of trial period. Contact the lender with any questions or uncertainties before applying for an account. Obtaining credit card merchant account services will let you accept credit card payments from your customers in a variety of ways. Then, you should feel, when approved confident that you have made a good investment. If you own or operate a store, they can pay, for example onsite with a credit card processor that you can plug into a wall outlet.

Depending on how your customers like to pay and the level of involvement you want to pursue, you can add a pager and an e- check or debit processor right away or later on, depending on equipment cost and your need. But if you deliver goods or services to homes or businesses, you may want to take along a wireless credit card processor. Being approved for a merchant services account will help you expand the way you do business. Soon your profit margins should increase as well. Many consumers prefer to pay by credit card, so accepting payments via this method will attract that segment of buyers and increase your volume of sales. Start thinking now about adding credit card merchant account services to your business.

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With An Unsecured Debt Consolidation Loan, The Loan Is Not Tied To Any Valuable Assets You Own - Finance and Credit Articles:

It is vastly commendable for you to consider an unsecured debt consolidation loan when yearning for a loan to consolidate your debts. With an unsecured debt consolidation loan, the loan is not tied to any valuable assets you own.

What 0% Interest Credit Cards Are All About - Finance and Credit Articles:

A major part of considering any credit card is the interest rate.

Today, Credit Cards Are The Preferred Mode Of Transaction The World Over - Kaitlin Nowlen's Finance and Credit blog:

The use of liquid cash has long ceased, since the advent of plastic. Businessmen and even shoppers prefer the exchange of cash via credit card, rather than carry around liquid cash and the risk involved.

S. , Debt Recovery Agents Have To Follow Ethical Procedures While Reclaiming Debts And Treat The Debtors In A Fair Manner

Category: Finance, Credit.

The debt collection industry has had an indifferent past with many cases of debt recovery leading to verbal or physical abuse and prolonged court cases.

S. , debt recovery agents have to follow ethical procedures while reclaiming debts and treat the debtors in a fair manner. With the passing of Fair Debt Collection Practices Act in U. Using intimidation or bullying tactics or subjecting the debtor to any form of harassment is illegal. The recovery agent may make false statements and deceive the debtors that are likely to force them to pay up or disclose information which they are not required to by law. It forbids certain types of misconduct by debt recovery agents as described below. With long experience behind them, the recovery agents may try to verbally scare innocent debtors into submission.

Charging extra amount in addition to the actual debt is a common unfair practice followed by the collectors. Some possible deceiving actions by debt recovery agents are: - Manipulate the contract or written document. - Intimidate the debtor that he or she would be detained by the police. - Modify the amount of debt. - Accusing the debtor wrongly of having indulged in criminal activity. - Behave as if they are from the legal fraternity or are from government prosecuting agencies. - Indicate falsely that legal notices have been sent or are on the way. They may demand payment for telephone and other communication charges that are not legally permitted. Subjecting the debtors to psychological pressure through harassment is the most terrible form of ill- treatment they can undergo as it can affect the emotion or mental make up of the persons in a grave manner. There have been instances of other illegal coercive methods employed by debt recovery agents. Some of the ways the debtor can be subjected to mental agony are: - Verbal abuse through use of foul language. - Embarrassing the debtors in public by issuing statements through newspapers or other media. - Use of bullying tactics that may lead to physical injury. There has been cases where a company who hired a collection agency that went to far, and also was included in the litigation that resulted from the collection agency s abuses.

The company employing a debt recovery agency should take care that the latter does not resort to any of the above mentioned means which are prohibited by law in order to avoid landing themselves in legal trouble as accomplices.

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Great No Annual Fee Cards - Finance and Credit Articles:

The bulk of lending institutions now offer no annual fee credit cards to draw in new consumers.

Filing Bankruptcy Can Be Overwhelming - Luisa Studley's Finance and Credit blog:

Filing bankruptcy can be overwhelming. Is there help available?

Attitudes To The Credit Card Have Also Changed A Great Deal - Finance and Credit Articles:

These days, our credit cards allow us to buy whatever we want, whenever we want.

Is It Good For The Charity

Category: Finance, Credit.

Not long ago, Robin Amlot posted a bit of a rant about the charity credit card craze at MSN Money. If your intent is to donate to a charity, your favourite charity will certainly get far more from your gift if you make the donation directly.

The rant was on target, as far as it went. Under various charity schemes, your donated loot will actually be worth more to the charity than the amount that you contributed. The point is that this is money you ve spent anyway. But that rant rather misses the point of using a charity credit card, doesn t it? When you charge your purchases on a charity card, you re not paying more or less for your purchases- but a part of that cost goes from your pocket into the coffers of your favorite charity. But if you want to donate the money to charity, why not just, the article charges make a donation of �1150- which, under the right scheme, will actually be worth almost �200 to the charity- and, the writer adds triumphantly, you didn t have to spend any other money to do it!

Amlot s article takes the position that if you charge �10, 000 on the AMEX Red Card- the particular target of the rant- you generate �1150 in donations to charity. Which is, in the real world, a backwards way of looking at things. Chances are, you won t. Let s start with the assumption that you ll charge �10, 000 on your card. Most people don t. At the rate of one pence per pound spent, the rate that the AMEX charity credit card uses, they ll contribute �4 per month to charity- but you re not spending an extra �4 per month.

But what happens if you charge, �400 in groceries, say every month on your card- and pay it off each month in one chunk. You re just buying your groceries at the price you d have paid anyway. Most people wouldn t- it s such a small amount. And be truthful with yourself- would you think to donate that �4 each and every month? Who could be blamed for wondering what good it would do? Even more importantly, multiply that 4 by another 5, 000 people doing the same thing and the numbers start to add up.

But that four quid a month is nearly �50 per year. Is there profit in it for the credit card company? They count on people s desire to do good to increase their own market share, and increasing that market share means that they make more money even when giving part of it away. Of course there is. Is it good for you? While you re at it, compare credit cards to find yourself the best rates and see if you could make those contributions suggested by Amlot with your savings, if any at all. Take the time to compare all the options with the way you shop now and see if it will cost you more to charge your regular purchases.

Is it good for the charity? Those four quid and 20 pence here and there add up- to the tune of �380, 000 from Barclaycard in 200 In short, when you compare and choose a charity credit card, you are using your choice to direct donations to one of hundreds of charities in need- donations that most people would consider too insignificant to bother with. Despite the attempt to make it seem that donating via a charity option takes money out of the pockets of those you want to help, the truth is that the charities that benefit get thousands in donations that no one would have thought to make in another way. How could that be bad? If you re in the market to apply for a credit card, you can compare credit cards and all charity offers at good comparison websites, where you ll find the best deals listed and easy applications for dozens of the best credit card offers in the UK.

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What Do Most Credit Card Holders Look For In Their Credit Cards - Guadalupe Pauls's Finance and Credit blog:

What do most credit card holders look for in their credit cards?

There Are Three Main Ways: Debit Cards, And Charge Cards, Secured Cards - Finance and Credit:

There s no doubt that credit cards have become almost ubiquitous in modern life, with most adults now having at least one open account, even if they don t carry a balance from month to month. However, there s also no doubt that credit cards can be a very dangerous thing if not treated with respect.

You Have Heard About All Of The Recommendations To Get A Free Copy Of Your Credit Report, Right - Finance and Credit Articles:

You have heard about all of the recommendations to get a free copy of your credit report, right? I mean after all, the credit reporting agencies are professionals who know what they re doing, so why should you have to worry about any mistakes?

Do Your Finest Not To Be A Victim Of Credit Card Debt

Category: Finance, Credit.

Before anything else, if you have had a credit history which is far from terrific and you re in despair about ever getting a credit card corporation to give you credit, there are credit card suppliers that give persons who have a bad credit rating past an opportunity to straighten things out.

It is absolutely useful for you to know the right rates of the particular credit card you have. The credit card rate refers to the rate of interest that a credit card corporation charges on the sum of capital that you owe them and varies from one corporation to the next. Credit card debt can surely be like a vise around your neck and is a universal occurrence among several persons that have credit cards. Do your finest not to be a victim of credit card debt. Credit card debt is absolutely universal because of the tendency to exceed the credit card limit or the failure to meet stipulated payments of bills to the credit card firm. Being rapid with payments on your other credit cards instantly qualifies you for another credit card with another credit card corporation on account of the fact that it connotes that you have a perfect credit rating history.

The first step any man or woman looking to do away with credit card debt got to take is to admit that he| she is in debt in the first place. Credit card processing refers to all the guidelines that are involved in the method of credit cards and encompasses an intricate network of systems as well as persons working in co- ordinated harmony to make sure that applications are processed, credit cards are supplied, relevant information is stored and bills and even information are relayed to related customers. Accepting your debts gives you the courage to move on and plan on how to cope with them. Many credit card corporations include zero percent annual percentage rate on transfer balances. It would be pointless to lie when filling out an application form for a credit card on account of the fact that the credit card corporations ultimately cross checks the data you give to ascertain its legality. On the other hand their periods for which this offer lasts varies so it will truly do you well to discover what their actual APR is.

This decision will truly aid you pay off your debts faster. To round up this article, if you re in credit card debt and are planning to consolidate your credit card debt, you need to make a decision to spend capital cautiously and meet payments on time.

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Similar Things Happen To Other Rewards - Nina Dennis's Finance and Credit blog:

Getting rewarded as you spend money with your credit card makes things interesting for a credit card holder.

They Offer Four Different Blue Cards - Claire Luke's Finance and Credit blog:

American Express Credit Cards are ideal for both individuals and businesses. American Express Credit Cards are also widely used, but are not as widely accepted as Visa and Mastercard.

The American Express Blue Card Is No Exception - Patrica Bashaw about Finance and Credit:

Nowadays, credit cards are loaded with great features and benefits.

Defaulting On Loan Payments Is One Way To Make Your Credit Score Worse

Category: Finance, Credit.

If you have bad credit then you know that this can affect you negatively in many ways including not getting approved for certain loans and paying higher interest rates.

Defaulting on loan payments is one way to make your credit score worse. However it is possible to improve your credit rating as long as you have the desire to do so. It is critical that you always make all your monthly bill payments on time from now on. Another important thing to do is to actually check your current credit score and make sure it is accurate. Making bill payments on time is the largest factor that affects your credit rating so make a long term commitment to do this regularly. It is a good idea to get your credit score from multiple credit agencies as the scores can vary.

Also take a look at your current credit card debt levels and do your best to reduce them as much as possible. Identity theft is a big problem so make sure that your credit score is not being pulled down by it. Being close to the limit on your credit cards does not help your overall credit rating score. It is better to spread your credit card debt over several cards rather than being maxed out on a few. Avoid being maxed out on any of your cards. If you have balances on multiple cards make it a point to pay off the high interest cards first. Also if you have high interest credit cards then a good way to potentially lower your interest rate on those cards is to call the customer service representative and ask them for a reduced interest rate.

Also whenever possible make extra payments on your credit cards and other loans like student loans as this shows that you are willing to take that extra step to reduce your debt thus making you less of a risk to lend money to. You can mention that you were considering switching to other low interest cards and many times the representatives are authorized to lower your interest rates. Use your credit card to pay for gas, groceries and other small bills and then make sure to make the credit card payments on those in full instead of just making the minimum payment. Paying off credit card debt immediately is also a good way to boost your credit score as it shows that you are responsible and only take out loans that you can afford to pay back. Keep in mind that having a good credit score will also make it easier to qualify for low interest and zero fee credit cards. Also keep in mind that while credit score is important when it comes to qualifying for a loan, it is not the only item that lenders look at.

It is best to stick with the credit card providers or other loan providers you currently have since constantly switching your debts from one company to the next adversely affects your credit rating. They will also look at employment history and current income level, any assets you own and your debt to credit ratio. Discipline yourself to build a solid credit history and you will find that getting loans like a mortgage for your dream home will become much easier and cheaper.

A Credit Counselor May Also Help

Category: Finance, Credit.

Credit card debts can be a serious financial burden to many people. As a result, it is important to find various ways to relieve this burden.

There are a lot of people who are having this burden in the world. In fact, there are a lot of options in order to reduce the credit card debts. It is very important to develop the budget in order to understand your current financial situation. As all other experts will advise, you have to develop a personal budget for yourself. It is also very crucial in order to reduce the debts. Of course you also have to change your spending patterns if they are not healthy in the past. In this budget, you have to allocate certain amount of money to repay the debts.

Try to cut the unnecessary expenses and have the commitment to save some money every month is very important. You can explain to the creditors your current situation. You can also try to contact your current creditors. If you are not able to pay the minimum due, you should tell the creditors to see how they can arrange a new payment schedule for you. Debt consolidation can also be a good option. They may also reduce the interest rates in some cases. Of course it will not be an easy step since you have to do a lot in order to make it happen.

You may consider things like home equity loan if you have a home since the interest rate will be a lot lower than the interest rates of the credit cards. However, it can be a very important step in the process of debt reduction. Of course you should also be very careful when you make these decisions. A credit counselor may also help. You have to make sure that you will not lose your house or home because you try to reduce the credit card debts. They can help you to negotiate with your current creditors and seeks ways to reduce the debts.

Reducing the credit card debts can be a difficult job. When you are seeking a credit counselor, you have to make sure that they can help you but not just trying to urge you to sign up their services. You need to have the determination in order to succeed in doing so. The key is that you have to always remind yourself that you need to mange your debt otherwise it will be a serious problem!

Credit Card Companies Love You To Have High Outstanding Balances, As They Make Their Profit From The Interest Charged

Category: Finance, Credit.

One of the main ways to deal with credit cards and their spiralling balances is with a credit card debt consolidation loan. All too often people can see a zero balance on a credit card as an opportunity to spend, buying what they think they need- all they are doing is squandering the financial benefit that zero balance had brought them.

Willpower, resolve and a proper budget is needed if this sort of loan is not to end up as another means to drive you deeper and deeper into debt. By looking at the credit card balances with the highest interest rates, you can make the most effective use of the consolidation loan and reap the greatest benefits. Unless you destroy your cards and cancel the accounts then this loan is only going to make your financial situation worse. Although a loan is often put forward as a solution, there are other credit card debt consolidation options which don t necessarily involve closing your accounts. With one credit card with excellent terms for your every day needs, a credit card debt consolidation loan can be the best way to pay off the remaining cards and start your journey out of debt. You will get offers in the mail that tell you to transfer your credit card debt to this new card and you won t pay any interest on the balance you transfer. If you re unable to destroy your credit card or cancel your account, then you could look at a balance transfer deal to move your balance to a new card with a lower rate of interest.

By taking up these deals and transfer your balance, you can reduce your monthly repayments with the much lower introductory interest rate. Credit card companies love you to have high outstanding balances, as they make their profit from the interest charged. A word of warning- balance transfers need to be managed carefully, so that you aren t caught out when the introductory rate period expires and the monthly repayments take a sudden hike. Balance transfer deals are the easiest way to get you to put all your debt onto a few cards, so seek proper financial advice when looking at a balance transfer deal. If you can face cutting up your cards, then you re ready to use a debt consolidation loan to reduce your debt and better manage your finances. Without the will to follow through and destroy your cards, you will keep on spending, making the debt consolidation loan just another expense.

Although Business Credit Cards Emphasize Their Many Benefits To Small Business Owners Such As Record Keeping, Rebates On Business Expenses, And Travel Related Perks, There Are Also Some Potential Pitfalls Related To Using A Business Credit Card For Small Business Owners

Category: Finance, Credit.

Although business credit cards emphasize their many benefits to small business owners such as record keeping, rebates on business expenses, and travel related perks, there are also some potential pitfalls related to using a business credit card for small business owners. However, when there is very little or no cash available to a business owner, the potential to abuse credit cards is great.

Below are a few common risks associated with using a business credit card: Potential for Abuse: Many business owners find the possibility of instantly funding their start up business with a credit card to be very appealing. During a business start up, an entrepreneur usually has difficulty obtaining loans or other ways of financing their business, and they turn to credit cards to purchase the items needed. Therefore, they stay in debt, adding financial burden to the new business. As with many small business start ups, it sometimes takes several years to begin to see a profit. High Interest Rates: Business credit cards, like other credit cards, often charge high interest rates. This occurs most frequently with cards that offer low introductory rates.

The accumulation of these interest rates when the card is not paid off monthly can add a large amount to business expenses. Card holders may not be aware of the amount this rate will increase after the introductory period ends. Risk to Reputation: Just as with personal credit cards, if business credit cards are not used responsibly and carefully they can lead a new business into a large amount of debt as well as damage the reputation of the business by lowering it's credit score. Because of this, and due to low minimum payments, business credit cards may take longer than expected to pay off completely. This can make it even more difficult to get credit or loans with suppliers in the future. New businesses can be very expensive and the cost of doing business can be very high.

It can even put an owner out of business. However, with effective and careful credit card management and careful planning when choosing a business credit card, most of the downsides of business credit cards can be controlled or avoided altogether. Business lines of credit usually have more flexible and also more favorable financing terms. Using a business line of credit rather than a credit card is the best way to avoid many of these pitfalls.

The Use Of Credit Cards Has Its Own Pros And Cons

Category: Finance, Credit.

The use of credit cards is but just an evolution of the ancient merchants' form of transacting for their various businesses. The words Credit Card had been mentioned in his novel Looking Backward eleven times, and in the book's sequel named Equality three times.

It was Edward Bellamy who introduced the concept of the card usage to make purchases. During the 1950s, Ralph Schneider and Frank Mcnamara invented the notion of making payments to merchants using a card. This had been followed by the opening of Carte Blanche, and Bank of, American Express America's introduction of the Visa Card. This gave rise to the foundation and opening of the Diner Club, which is still in existence and operation today. It continuously evolved until it reached its recent form of using the plastic card that is most commonly known as the Credit Card. Below are some of the advantages: Minimizes risk of loosing cash.

The use of credit cards has its own pros and cons. The consumers need only to bring and present the plastic card to make transactions or purchases. Purchases that immediately needs to be made may be possible with the use of credit cards even if the individual is low in cash since all that would be looked at is the credit limit available. Convenience. Some of the disadvantages are: This could result to accumulation of debt if the main and interest charges are not settled until its due dates. It had always been noted that the rampant use of the credit card system had resulted to the Great Depression of the 1920s.

It could be very tempting to make purchases that are really not quite necessary. With the sudden rise of automobiles available for purchase by the consumers during the said period, there had been an equal increase in the demand for fuel. This gave birth to the introduction and use of Gas Credit Cards. So as not to loose consumers, most fuel companies extended credit to their consumers to attract more buyers to increase sales. Gas Credit Cards are somewhat similar with credit cards, but is limited to the use of purchasing of gasoline. The following are some of the best offers by some gas credit cards: Awarding of 5% Cashback Bonus upon purchase of gas or 1% for any other purchase. 3- 9% rebate on all gas purchases that are made on any gas station during the first 90 days. Cardholders of said cards are usually given rebates in the form of cash back check or by giving them a credit for their existing balance.

Free gas offers when a certain amount had been charged on the card. A consumer may want to choose these types of cards if they have limited means to immediately pay the card balance so as to minimize interest accumulation. Gas credit cards that have annual fees usually offer a lower interest rate for purchases that are charged to it. Some gas stations offer discounts to consumers using their particular card. Still, it all depends on the consumer to use his or her card wisely for his or her own benefit. As compared to regular credit cards, gas credit cards offer a much lower interest rate for gas purchases, thus making it a wise decision to have one of this if the consumer is usually traveling using his or her own vehicle.