By R. Charlton
Over recent years many stores have started offering their own form of credit cards, known as store cards. Store cards are a kind of 'credit' card with a few key differences.
A store card can only be used in a particular store or chain of stores depending on which card you have. Store cards cannot be used to make cash withdrawals, and interest rates associated with store cards can be very high.
These limitations make store cards a very restrictive form of credit, and although store cards offer discounts on products that are sold by that particular retailer or chain this is often designed to play on consumer's tendency to impulse buy.
For instance, you may walk into a shop and sign up for a store card to get money off an item – landing up with credit (or debt) that you would not have taken out at all if it wasn’t for the lure of a discount. Once you’ve taken out the store card credit you are then restricted in it's use to purchasing items from that store or chain only - when in fact you may be able to get the same or similar products at a lower price elsewhere.
A major disadvantage of store cards is that they can prove to be very expensive forms of credit for anyone who does not repay their balance in full each month due to the often dizzyingly high rates of interest charged. It can be easy to get carried away with a store card, especially as many people do not view the credit lend as seriously as they would their bank’s credit card. Due to the extortionate rates of interest many people soon find themselves with debts to repay on multiple cards with very little to show for it.
Although it is not always advisable to use credit cards for cash withdrawals due to the charges that are applied - you at least have the option should an emergency arise. However, with a store card the best you will be able to do in a financial emergency is hotfoot it to the shops and buy yourself a new outfit or electrical gadget depending on which store card you have!
The interest rates charged on store cards can vary, but are typically far higher than many credit cards.
Anyone who is not that great with his or her finances really ought to be avoiding spending too much on credit anyway. If you have a poor credit history think about ways to improve your credit score, such as using a poor credit history credit card and keeping your debts repaid.
If you have a good credit rating you could fare far better by opting for a retail reward credit card – you’ll get shopping rewards on your spending and the luxury of a credit card that can be used anywhere and that won’t charge you an arm and a leg if you don’t manage to clear your spending in full.
R. Charlton, award-winning writer, shares her financial expertise as a contributing columnist for Credit Card Comparison Online - compare credit cards, where you can compare retail reward credit cards or compare bad credit rating credit cards
Article Source: http://EzineArticles.com/?expert=R._Charlton
Thursday, October 4, 2007
Monday, September 17, 2007
Credit card debt management: trouble shooter for your debts.
by Elaine Owen
Plastic money or credit card has ushered a new way of spending money. Now most individuals prefer the transaction of credit cards as carrying hard cash is not at all felt convenient in the pocket. But using the credit cards to a great extent may lead to debts of a great amount. As the debts incurred on credit cards are of high interest rate, you might find it a bit difficult to manage the debts. To manage the debts in an efficient manner, you must seek the assistance of credit card debt management.
As mentioned earlier, credit card debts have a very high interest rate. The problem arises when you are not able to make the payments in time. You may have lost your employment, inefficient management of debts, use of debts to fulfill your needs or illness. Credit card debt management can be availed in the form of credit card debt consolidation, credit card debt counseling, proper budgeting and debt negotiation.
Among all the above said options, credit card debt consolidation is considered as one of the best to deal with multiple credit card debts. Here, you manage all your multiple credit card debts by merging it in to a single manageable debt. If you are really finding it hard to nullify your debts, then debt consolidation is the most reliable way which helps you to come out of debts.
Credit card debt consolidation helps you to merge all your existing debts in to a single manageable debt. One good thing about the debt consolidation loan is that you get to resolve your debts at significantly reduced amount, low rates of interest, flexible repayment option and solitary payment for your multiple credit card debts.
Before seeking the assistance of credit card debt management, you must prepare a budget keeping in mind about the income generated and the monthly expenses incurred. Budgeting will help you to understand the debts and your income. The options available under credit card debt management not only help you to consolidate your multiple debts and enables you lead a hassle free life.
If you are knee deep under credit card debts, then you must opt for credit card debt management to get rid off the multiple debts
Writing for loans for Elaine Owen is not just about giving advice to people but offering sensible ways to revamp their financial condition in a reconstructive way.He is working with Debt Consolidation Loans. To find credit card debt management,credit card debts,avoid bankruptcy visit http://www.e-debt-consolidation.co.uk/
Plastic money or credit card has ushered a new way of spending money. Now most individuals prefer the transaction of credit cards as carrying hard cash is not at all felt convenient in the pocket. But using the credit cards to a great extent may lead to debts of a great amount. As the debts incurred on credit cards are of high interest rate, you might find it a bit difficult to manage the debts. To manage the debts in an efficient manner, you must seek the assistance of credit card debt management.
As mentioned earlier, credit card debts have a very high interest rate. The problem arises when you are not able to make the payments in time. You may have lost your employment, inefficient management of debts, use of debts to fulfill your needs or illness. Credit card debt management can be availed in the form of credit card debt consolidation, credit card debt counseling, proper budgeting and debt negotiation.
Among all the above said options, credit card debt consolidation is considered as one of the best to deal with multiple credit card debts. Here, you manage all your multiple credit card debts by merging it in to a single manageable debt. If you are really finding it hard to nullify your debts, then debt consolidation is the most reliable way which helps you to come out of debts.
Credit card debt consolidation helps you to merge all your existing debts in to a single manageable debt. One good thing about the debt consolidation loan is that you get to resolve your debts at significantly reduced amount, low rates of interest, flexible repayment option and solitary payment for your multiple credit card debts.
Before seeking the assistance of credit card debt management, you must prepare a budget keeping in mind about the income generated and the monthly expenses incurred. Budgeting will help you to understand the debts and your income. The options available under credit card debt management not only help you to consolidate your multiple debts and enables you lead a hassle free life.
If you are knee deep under credit card debts, then you must opt for credit card debt management to get rid off the multiple debts
Writing for loans for Elaine Owen is not just about giving advice to people but offering sensible ways to revamp their financial condition in a reconstructive way.He is working with Debt Consolidation Loans. To find credit card debt management,credit card debts,avoid bankruptcy visit http://www.e-debt-consolidation.co.uk/
Tuesday, August 14, 2007
Application for University of Illinois Corporate Credit Card(American Express Card)
To apply for an American Express Corporate Credit Card complete the two-page application and return to the address listed on the second page.
Responsibilities and Policies
The following responsibilities and policies are associated with the University of Illinois Corporate Credit Card:
• The Corporate Credit Card is intended for valid University business travel expenses only (for example, business related air travel, car rental, hotel charges, meals). Cardholder activity is monitored through reports received from American Express.
• A $500 retail limit (per billing cycle) has been placed on the Corporate Credit Cards. Travel related merchants (airlines, hotels, car rentals, etc) are not subject to the retail limit. The Corporate Credit card should not be used for purchasing goods & services. The University of Illinois P-Card is intended for these types of purchases. For information on the P-Card go to http://www.obfs.uillinois.edu/manual/central_p/sec7-6.html. The Corporate Card should not be utilized for personal (non-University related) transactions.
• The Corporate Credit Card is approved by American Express based upon the employee’s personal credit qualifications, and consequently, the Card is issued with the employee’s individual liability.
• It is the employee’s responsibility to pay all American Express monthly statements according to the stated terms.
• In the event of delinquency greater than 15 days after the due date, American Express will suspend use of the Corporate Credit Card.
• Termination of employment (including retirement) will result in cancellation of the Corporate Credit Card.
Section 15.8 of the Business and Financial Policies and Procedures manual governs the use of the University of Illinois Corporate Credit Card. http://www.obfs.uillinois.edu/manual/central_p/sec15-8.html
How many times per year do you travel on University business:
Is your position classified as temporary or visiting (yes or no)? If yes, termination date:
I have reviewed and understand the responsibilities and policies associated with receiving an American Express Corporate Credit Card. By signing below, I submit my application for a Corporate Credit Card and, if issued, accept the Corporate Credit Card according to these terms.
Employee Signature Department
Title Date
I confirm this individual will use the Corporate Credit Card for University related travel expenditures.
Departmental Approval Signature Title Date
Print - Departmental Approval Name Phone Number
Corporate Credit Card Information
Name as it should appear on the card (limit of 20 characters):
First Middle Last
Social Security Number: ______-______-______ Employee Identification Number (UIN)
Business Phone Number: - - Home Phone Number: - -
Billing Address:
Street Address (limit of 20 characters)
City State Zip
Home Address (Required - If different than billing address):
Street Address
City State Zip
Should you have any questions or concerns, please contact Stephen Wiggs at 217-244-4684 or swiggs@uillinois.edu .
Forward completed application to: Stephen Wiggs
OBFS-Corporate Card Office
271 Henry Admin Bldg (M/C-341)
506 S Wright St
Urbana, IL 61801
Rev – June 2005
Responsibilities and Policies
The following responsibilities and policies are associated with the University of Illinois Corporate Credit Card:
• The Corporate Credit Card is intended for valid University business travel expenses only (for example, business related air travel, car rental, hotel charges, meals). Cardholder activity is monitored through reports received from American Express.
• A $500 retail limit (per billing cycle) has been placed on the Corporate Credit Cards. Travel related merchants (airlines, hotels, car rentals, etc) are not subject to the retail limit. The Corporate Credit card should not be used for purchasing goods & services. The University of Illinois P-Card is intended for these types of purchases. For information on the P-Card go to http://www.obfs.uillinois.edu/manual/central_p/sec7-6.html. The Corporate Card should not be utilized for personal (non-University related) transactions.
• The Corporate Credit Card is approved by American Express based upon the employee’s personal credit qualifications, and consequently, the Card is issued with the employee’s individual liability.
• It is the employee’s responsibility to pay all American Express monthly statements according to the stated terms.
• In the event of delinquency greater than 15 days after the due date, American Express will suspend use of the Corporate Credit Card.
• Termination of employment (including retirement) will result in cancellation of the Corporate Credit Card.
Section 15.8 of the Business and Financial Policies and Procedures manual governs the use of the University of Illinois Corporate Credit Card. http://www.obfs.uillinois.edu/manual/central_p/sec15-8.html
How many times per year do you travel on University business:
Is your position classified as temporary or visiting (yes or no)? If yes, termination date:
I have reviewed and understand the responsibilities and policies associated with receiving an American Express Corporate Credit Card. By signing below, I submit my application for a Corporate Credit Card and, if issued, accept the Corporate Credit Card according to these terms.
Employee Signature Department
Title Date
I confirm this individual will use the Corporate Credit Card for University related travel expenditures.
Departmental Approval Signature Title Date
Print - Departmental Approval Name Phone Number
Corporate Credit Card Information
Name as it should appear on the card (limit of 20 characters):
First Middle Last
Social Security Number: ______-______-______ Employee Identification Number (UIN)
Business Phone Number: - - Home Phone Number: - -
Billing Address:
Street Address (limit of 20 characters)
City State Zip
Home Address (Required - If different than billing address):
Street Address
City State Zip
Should you have any questions or concerns, please contact Stephen Wiggs at 217-244-4684 or swiggs@uillinois.edu .
Forward completed application to: Stephen Wiggs
OBFS-Corporate Card Office
271 Henry Admin Bldg (M/C-341)
506 S Wright St
Urbana, IL 61801
Rev – June 2005
Monday, August 13, 2007
Prepaid Credit Cards Not Always a Good Choice
By: Paul McDermott
Imagine my frustration - I had found an old Beatles CD I had been looking for in an online auction site but my prepaid gift card was being refused as payment. I knew I had exactly enough money left on the prepaid debit style card for the LP and shipping because I had just checked my balance - what could be the problem? To be sure, I dialed the 800 number on the back of the prepaid gift card again and punched in the card numbers. The automated voice told me that my prepaid balance was now $2.00 less than it had been just minutes before, and I had not even used the card!
I opened a new window in my browser and went to the website of the prepaid credit card distributor. Following the prompts to enter my account number, I was shocked to see the reason for my shortage of funds. When my transaction didn't go through on the auction site I had been charged $1.00 by the prepaid gift card company for the failed purchase. And the reason the purchase had failed was because I had used the 800 telephone number to check my balance - and that had cost me $1.00 also. Sadly, my sought after Beatles disc was going to another home. If only had I read the fine print in the three page booklet that came with my card...
Such are the pitfalls of prepaid gift and credit cards and so-called "reloadable" prepaid cards that allow repeated deposits into its account. The popular gift cards have been a big hit with consumers for their convenience. They've also been a big hit for retailers and the credit card industry but for two very different reasons: non-redemption rates and fees. Various research puts the non-redemption rates (the dollar value of cards which is never spent) of prepaid gift and debit cards between 6% and 25%; even the lower figure would have to be called a boon for card distributors when you consider that according to the National Retail Federation (NRF) Gift Card Survey, consumers spent a whopping $24.81 billion dollars on gifts cards in 2006. Many states are enacting laws aimed at recouping this unspent money under the unclaimed property umbrella most state treasuries use today to hold anything of value an owner has not stepped forward to show possession of.
Are any of these cards worth it? First, make sure you read the details on the fees and charges. Gift cards from restaurants, retailers and hotels usually have no intial charge, and often no fees at all. And you can use the balance of a card on a purchase and pay the rest with some other form of payment, so you never have to leave a balance on your card. If you get a prepaid credit card from one of the credit card companies, expect to pay a processing fee right up front.
Fees can then be charged for simply using the card to buy something, to check your balance, for refused transactions (like me), for registering the card with a name and address so it can be used online, expensive monthly and/or annual maintenance fees, the list goes on.
If you do have a prepaid credit card that has lots of these fees, what are you going to do? You cannot use the remaining balance on your card if it is less than what you owe. You could pay another fee. But don't call to get your balance either. You could be charged again! Try one of the retailer prepaid cards to avoid these unreasonable fees.
It may not have occurred to you, but the local branch of your home town bank often has the best deals on pre-paid credit/debit cards, so be sure to check there when buying a card if you don't want to be limited to a single store or restaurant. Remember, all prepaid gift and debit card distributors are required by law to make plain what the fees and expenses are for any card they sell. Take the time to research them before your purchase and you can save a bundle. I never did get my Beatles CD, but I did wise up and empty the prepaid debit gift card on a barely used copy of "Joshua Tree" by U2 that I've really come to enjoy.
Article Source: http://www.superfeature.com
Paul McDermott reveals more of his hard earned lessons on free prepaid prepaid visa credit card and finances over at Get Out of Debt Tips .
Don't reprint the same version as everyone else. Get your own unique content prepaid credit cards article here.
Imagine my frustration - I had found an old Beatles CD I had been looking for in an online auction site but my prepaid gift card was being refused as payment. I knew I had exactly enough money left on the prepaid debit style card for the LP and shipping because I had just checked my balance - what could be the problem? To be sure, I dialed the 800 number on the back of the prepaid gift card again and punched in the card numbers. The automated voice told me that my prepaid balance was now $2.00 less than it had been just minutes before, and I had not even used the card!
I opened a new window in my browser and went to the website of the prepaid credit card distributor. Following the prompts to enter my account number, I was shocked to see the reason for my shortage of funds. When my transaction didn't go through on the auction site I had been charged $1.00 by the prepaid gift card company for the failed purchase. And the reason the purchase had failed was because I had used the 800 telephone number to check my balance - and that had cost me $1.00 also. Sadly, my sought after Beatles disc was going to another home. If only had I read the fine print in the three page booklet that came with my card...
Such are the pitfalls of prepaid gift and credit cards and so-called "reloadable" prepaid cards that allow repeated deposits into its account. The popular gift cards have been a big hit with consumers for their convenience. They've also been a big hit for retailers and the credit card industry but for two very different reasons: non-redemption rates and fees. Various research puts the non-redemption rates (the dollar value of cards which is never spent) of prepaid gift and debit cards between 6% and 25%; even the lower figure would have to be called a boon for card distributors when you consider that according to the National Retail Federation (NRF) Gift Card Survey, consumers spent a whopping $24.81 billion dollars on gifts cards in 2006. Many states are enacting laws aimed at recouping this unspent money under the unclaimed property umbrella most state treasuries use today to hold anything of value an owner has not stepped forward to show possession of.
Are any of these cards worth it? First, make sure you read the details on the fees and charges. Gift cards from restaurants, retailers and hotels usually have no intial charge, and often no fees at all. And you can use the balance of a card on a purchase and pay the rest with some other form of payment, so you never have to leave a balance on your card. If you get a prepaid credit card from one of the credit card companies, expect to pay a processing fee right up front.
Fees can then be charged for simply using the card to buy something, to check your balance, for refused transactions (like me), for registering the card with a name and address so it can be used online, expensive monthly and/or annual maintenance fees, the list goes on.
If you do have a prepaid credit card that has lots of these fees, what are you going to do? You cannot use the remaining balance on your card if it is less than what you owe. You could pay another fee. But don't call to get your balance either. You could be charged again! Try one of the retailer prepaid cards to avoid these unreasonable fees.
It may not have occurred to you, but the local branch of your home town bank often has the best deals on pre-paid credit/debit cards, so be sure to check there when buying a card if you don't want to be limited to a single store or restaurant. Remember, all prepaid gift and debit card distributors are required by law to make plain what the fees and expenses are for any card they sell. Take the time to research them before your purchase and you can save a bundle. I never did get my Beatles CD, but I did wise up and empty the prepaid debit gift card on a barely used copy of "Joshua Tree" by U2 that I've really come to enjoy.
Article Source: http://www.superfeature.com
Paul McDermott reveals more of his hard earned lessons on free prepaid prepaid visa credit card and finances over at Get Out of Debt Tips .
Don't reprint the same version as everyone else. Get your own unique content prepaid credit cards article here.
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