Swipe it! When it’s Smart to Pay with a Credit Card

Posted by administrator | 31/07/11 | Tagged Credit Card Debt

Swipe it! When it’s Smart to Pay with a Credit Card
News from Fox Business:

Credit cards have gotten a bad rap recently and for good reason: if not used responsibly, they can lead quickly lead to burdensome financial debt.

According to Creditcards.com, the average credit card debt per household with credit card debt in the U.S. stands at $ 14,687.

The 2008 financial crisis unveiled our nation’s debt crisis and put credit card companies under the scrutinizing eye of federal regulators. The CARD Act, which was signed into law by President Obama in May 2009, was designed to protect consumers from unfair credit card practices and eliminate predatory credit card lending tactics.

But experts say whipping out the plastic isn’t always a bad idea. The key is keeping track of purchases, evaluating whether transactions make financial sense …………… continues on Fox Business
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Related News:

Congress’ mishandling of debt ceiling and deficit is surreal
News from CNN International:

  • Suze Orman: The debt ceiling is simply a mechanism to pay bills already incurred
  • It has nothing to do with future spending, she says, and the two issues shouldn’t be linked
  • U.S. “credit score” has already been hurt, even without a default, Orman says
  • The issue is jobs, she says. If employment rises, the deficit crisis is eased

Editor’s note: Suze Orman is a financial adviser and…………… continues on CNN International

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Credit Card Debt:

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Leave Home Without It…Membership has its privileges, but it also has a huge share of disadvantages. Without the proper know-how and guidance, you could find yourself buried beneath an avalanche of credit card debt. Millions of Americans are just like you and are currently attempting to pay off 0 billion to credit card companies. It’s in a credit card company’s best interest to keep you in debt—after all that’s how they make their real money. Even by following their rules, you can quickly

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US credit card firms set sights on China: Use of plastic there is soaring
News from Louisville Courier-Journal:

BEIJING — Jin Jitao, an editor at a textbook publishing house, may be the prototype of China’s new urban consumer. Though he never even heard of credit cards until 2004, he now has 79.

He has a card embossed with his nickname, one with a photo of his family, a pink Barbie card and two with Garfield the Cat. He has a card especially for dads, and several with Chinese cartoon characters.

“I like beautiful cards,” he said.

In a country that still largely runs on cash and where the idea of saving money seems embedded in the cultural DNA, the use of credit cards and debit cards is skyrocketing.

China issued 230 million new credit cards in 2010, an increase of 24 percent from the previous year, according to the China Banking Association, and the use of plastic for retail sales is up more than 40 percent this year.

It is a growing market that American credit-card companies such as MasterCard, Visa, American Express and …………… continues on Louisville Courier-Journal

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Action Line: Check out your credit-card perks
News from Tulsa World:

“Cash rebate cards and reward points cards are well known, but there are other perks customers miss from the credit cards they use,” said Bill Hardekopf, CEO of LowCards.com and publisher of its “Complete Credit Card Index” (tulsaworld.com/lowcardsindex) This comprehensive Internet resource allows consumers to compare rates on 1,060 credit cards, including rewards cards.

Attractions tickets: Bank of America’s “Museums on Us” offers free admission to 100 museums in 24 states the first weekend of every month of 2011. Discover saves 5 percent on in-park and online purchases for Six Flags Season Passes, VIP Tours, daily admission tickets, parking, food and merchandise. Citi Private Pass discounts theme park admission.

Travel perks: Visa Signature offers many reward perks for travel. It …………… continues on Tulsa World

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