Credit Cards
recommended by
our experts

Get Cards
Credit Card eZine - News and Articles about Credit Cards

Credit Card eZine - News and Articles about Credit Cards

Get even more information on credit cards? Read our Credit Card eZine. The section is regularly updated by our specialists. Learn all the financial tricks. Know the pitfalls and hidden bonuses. Find out how to transfer balances and accumulate points. We will tell you about the latest offers on the market.Get your credit card education and make the most out of your plastic.

Credit Card Deals - Set and Achieve Your Financial Goals

2008-08-26

Let us be honest, we all would like to stay on top of our finances. And there are actually a great many sources of information that help us to do this, including articles, tips, news, and more. But the cases are not rare when we get contradictory advice.

How many cards should a cardholder have - one plastic for emergencies or multiple cards for keeping a good debt/available credit ratio? What cards should be paid first? We can get contradictory answers to our questions, and that's really confusing. The key point here is to figure out your financial goals to pick up the right piece of advice for your case.

Let's face it - all cardholders want to make the most of their online credit card deals, but some want to build a favorable score rating, while the others want to eliminate their heavy debts. In other words, our financial goals are different, and one man's meat can be another man's poison. That's why it's very essential to determine your financial goals and take steps to achieve them.

All those tips and recommendations on credit can be really valuable, but you should choose the tips that help you achieve your credit card goals. So if you want to establish credit and do your best to improve your score rating, select those tips and articles that cover the problem of credit repair.

For score improvement, it's generally recommended to keep a debt to credit ratio as low as 40%. How can you do this? When carrying multiple credit cards, you've got a large amount of available credit. If you avoid maxing out these cards, you'll have a small amount of debt. And that's what issuers want to see - a nice gap between available credit and the balance you're carrying. This is one of the surefire methods to boost your credit score.

In case your goal is to reduce your credit card debt, you'd better minimize the amount of cards you're carrying. It's also worth to be mentioned that canceling old plastics is not always the best idea, as this can have a negative impact on your credit history.

Making minimum payments will get you nowhere, so if you want to shake things up and cut your debts, you need to increase your minimum monthly payments. By paying off cards with the highest interest rates first, it will be much easier to handle your plastics. And step by step, you will see the situation improving.

If your score is in good shape, making on-time payments and avoiding accumulating big debts will help you maintain good credit. All in all, no matter what your financial goal is, there are some basic rules of handling credit cards like being on time with payments and avoid maxing out your cards.

Share Opinion:
del.icio.us   digg   Furl   YahooMyWeb   Propeller   Reddit  
Comments not found
 

If you have something to say, please leave your comments below.

Your Name: *
Your Email:
Your Comment: *

Enter Number from Picture: * number

* - Required Fields Add Comment
[Sunday, December 18, 2011]
Chase Bank recently announced the redesign of its Visa credit cards - allowing more space on the front for the Chase logo. This new design is in trial mode currently but Visa has pans to roll out its new design to other financial institutions in order to increase the branding and logo visibility of the individual issuing banks.
Comments (0)
[Friday, October 28, 2011]
Debit and credit: they`re both plastic, why not consolidate them? The Cinncinati-based Fifth Third Bank, is the first to offer the DuoMasterCard which consolidates both a checking and a credit card account into one card.
Comments (0)
[Wednesday, September 21, 2011]
It really pays when you do the right thing. Take credit cards for instance, having a clean credit profile really does help. Those who managed to maintain a squeaky clean credit report during the recession can now jump with joy, as they will get some of the best deals from credit card issuers.
Comments (0)
* The CreditCardSpecialist.com webpage is a free service and an information resource for credit cards and financial products and services available to eligible United States consumers. CreditCardSpecialist.com does not offer any warranties and is not a direct service. There are no guarantees for approval or offers when applying for a credit card. Please refer to the application if you would like more information on each credit card. When you click "Apply" for a particular credit card, please take the time to review the terms and conditions of the product/service at the issuer's website. All logos on the CreditCardSpecialist.com website are property of their respective owners.
We do our best to maintain the information accurate at CreditCardSpecialist.com. However, all the credit cards information is subject to change and presented without warranty. See the up to date credit card terms and conditions on the secured credit card application page. Note that CreditCardSpecialist.com may be compensated by credit card issuers when visitors apply for a credit card through the links on this website.
CreditCardSpecialist.com, an independent, advertising-supported website, receives compensation from the companies whose offers appear on the site. This compensation impacts where and how credit products appear on our site, including, for example, the product listing order in which they may appear on separate pages. CreditCardSpecialist.com does not present or review all available credit or financial offers.
Disclosure: Not an access card.