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Compare Credit Card Blog
Credit Card Comparisons
February 26, 2010
Do you need to know the basics about how to choose a credit card that is best for you? Did you know that by finding the card that best fits your needs you could save up to hundreds of dollars each year? Find out more.
Federal Reserve Board's Comparison Survey of Credit Card Plans
February 16, 2010
Are your credit cards giving you the best deal? The Federal Reserve Board has prepared an easy to read survey of credit card plans of major financial institutions. See how your card compares in interest rate, cash back and perks. Go to the Federal Reserve's Credit Card Comparison Chart.
5% Cash Back With Discover Cards:
February 10, 2010
Are you taking advantage of the best cash back cards in the credit card business? Discover More card is one credit card that everyone should carry in their wallet. You can get 5% cash back for more categories than any other credit card. These include:
Gas
Restaurants
Drug Stores
Groceries
Home Improvement
Department Stores
Clothing Stores
Hotels
Movie Theaters and Rentals
Airlines
Cruises
And much more
These categories give cash back on a rotating basis throughout the year. Upcoming categories include:
Haitian Charity Donations Are Dropping. Credit Card Companies Waive Processing Fees in Effort to Help
February 8, 2010
Donations for relief to Haiti are drying up as less attention is being paid by news media on the devastating effects of the recent earthquake there. Hundreds of thousands may have died and there are serious complications with providing food and medical aid in what may be one of the worst natural disasters in history.
The major credit card companies have agreed to waive their processing fees for donations, allowing the full amount of donations to be used by charity groups. Normally a charity must pay up to 3% of a credit card donation for processing. If you are planning to donate, keep in mind that this fee waiver only applies to a few select charities. These charities vary by credit card company, so you may want to check with your favorite charity before you make a donation by credit card. If your charity will need to pay the credit card processing fee, you might consider sending a check instead.
Credit Card Comparisons: It Pays to Shop
February 7, 2010
Many consumers are not aware that there are substantial differences between credit card offers. Fees and interest rate can vary between banks. These costs also vary between types of cards.
For instance, some credit credit cards specialize in giving you a low interest rate. In order to keep rates down, low interest rate credit cards offer few other features. Other credit cards, such as cash back or reward programs cards actually pay you back up to 1-5% of your purchases. While this sounds fantastic, these cards come with a price, in that they usually charge more in interest rates. So if you carry a large balance, you could actually end up paying more in interest than you gain in rewards or cash back.
When you apply for a credit card, look at all the fees, including interest rate (APR), ATM cash advance fees, credit card check fees, annual fees, etc. Then consider what credit card features you are most likely to use. Finally, look for the credit card that offers these features at the least cost to you. A few minutes of your time to compare credit cards before you apply could end up saving you thousands of dollars over the life of the card.
Credit Card Rate Increases Accelerating to 5% On Balance Transfers
January 29, 2010
Credit card rates keep going up and up and up. If there is one thing in the universe that doesn't know the force of gravity, it is credit card rates. Some credit card banks recently raised their cash advance, convenience check and balance transfer rates from three to five percent. If these higher rates hold, then other credit card companies are likely to follow.
Are you planning to make a credit card balance transfer in the near future? You may want to make the transfer soon, so that you are not impacted by higher balance transfer fees.
Make credit card comparisons. Double check to see that the card you plan to use doesn't already have these higher rates in effect. If it does, you may want to apply for a card with a lower rate.
Earn 50,000 Reward Points Each Year: Here's How
January 23, 2010
The key earning maximum rewards is to use your card for every purchase. Don't forget to include items such as utilities, phone and cable tv bills. Even small items such as fas food outlets add up fast. In fact, your reward points credit card can earn over 50,000 reward points each year. We'll show you how.
Buying a Big Ticket Item? Check Your Credit Card Rate First
January 15, 2010
Banks are raising their credit card interest rate right and left. Even when the new credit card rules take effect in February, banks can still charge any rate they want -- except they will not be able to raise rates on previous purchases that are paid on time. What happens if your bank raises their rates? Here's what to do.
Use Your Card to Keep It From Getting Cancelled
January 7, 2010
Many credit card companies are cancelling credit cards that have not been used recently. This lowers the banks' credit risk by reducing the amount of credit cards available to consumers. At the same time it is easy to justify; after all, it is clear that the card is no longer used by the consumer.
If a your credit card is cancelled, then the amount of credit that you have available is reduced. In turn, this lowers your credit rating. Also, over time, you will lose your credit record for that card, which will reduce your credit score.
To avoid a hit on your credit score, make sure that you at least occasionally use each of your credit cards. This will keep them active and help you to achieve a high credit score.
Huge Loopholes in the New Credit Card Bill
December 22, 2009
The recent credit card bill which was passed by Congress and signed by the President offers some measures that will greatly aid consumers, but it also leaves glaring loopholes, which banks can (and probably will) take advantage of consumers by raising fees and interest rates. More....
What to Do When Your Credit Card Rates Are Raised
December 12, 2009
Even people with good credit are getting stung by the recent rise in credit card rates. Rates are jumping to as high as 40%. One credit card for people with no credit is charging a flabergasting 89% APR. These are rates that were considered usury just a few years ago. So what can you do to protect yourself? More...
