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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 - Better Early Than Late!


The proverb goes, better late than never. However, there are situations when this principle doesn't work. If you are an experienced cardholder, you are sure to know this. Time is money, when it comes to credit card payments, and lenders do not really care about your punctuality, they want to receive more money. That's why they set late fees and default interest rates. Roughly speaking, creditors want us to be late with our payments. And sometimes, we become victims of these strict time frames. The most irritating thing is that you can damage your credit rating in mere seconds, even though it took years to establish it. Read on for more details about the harsh consequences of late payments and learn how you can avoid them.

In our world everything is moving so fast that every single minute is precious. We appreciate the opportunity to save our time, so we give preference to those technologies that allow doing this. Banks also value their time. They deal with money, so they're very particular about their customers' punctuality. No payment at the due date? Get ready to pay a large sum out of your pocket.

If you carry one credit card, the problem of being on time with your credit card payments seems to be under control. But when one carries a dozen of plastics and they all have different due dates, it's so easy to forget and miss credit card payment on one of these numerous cards.

But before we speak about the consequences of missed and late credit card bills, let's try to figure out what can be done to prevent the unfortunate results. The key point is to be notified about your payment due dates. You can make the marks in your calendar for example, or put little notes on the fridge or on your computer.

If you've got several credit cards, it's getting harder to manage all your plastics. There are lots of online tools that can be used for this purpose. Credit spending planners, email reminders will be quite helpful. After all, you can use the reminders in your cell phone.

It would be really great if plastics initially come with some kind of reminders. But creditors can hardly benefit from such credit card deals. They make so much money on those cardholders who miss their payments due to some reasons. Default rates and late payments result in a handsome profit for credit card companies, while cardholders bear serious financial losses.

Late credit card payments can drop your credit score with a blink of an eye, not to mention default interest rates that nowadays climb through the roof. On the one hand, the severity of credit card standards can easily be explained. Lenders scrupulously track your credit activity, and late credit card bill is a solid reason for penalizing. Being late, you prove to be a bad risk for lenders.

On the other, lenders want their customers to make late payments, as their mistakes happen to be the source of their income. That's the reason why some lenders cut the length of the grace period on credit cards to 20 days. So, it's getting even harder to make credit card payments on time. This way, try to be more cautious with your credit card bills.

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[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.
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[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.
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[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.
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