Credit Card Tutorials

Using Credit Cards To Achieve Debt Relief

How Credit Card Companies Trap Their Customers

It is one of the most profitable businesses for banking industry: credit cards. The nearly magical convenience of these plastic cards encourages our compulsive behaviors. With more than a billion of credit cards in circulation which account for trillions of dollars of consumer spending, the world economy has obviously gone plastic.

Many families use their general-purpose, personal credit cards such as American Express, Discover, Visa and Mastercard to make ends meet; these cards have become discreet lifelines for people in financial straits. But more prudent consumers use plastic strictly for convenience. While it would seem that they — who charge a small fortune each month on their credit cards — are the ideal customers, actually, they are what some in the banking industry call a “deadbeat.” That is because they pay their balance in full each month. The best customers are those who make a minimum payment each month, as a large percentage of the payment goes toward the interest. (more…)

American Express Credit Card Benefits

With so many different credit cards on the market today, it can be hard to decipher one from another. At first glance, they all appear to offer the same thing. However, the benefits on American Express cards are very different than the others. Here’s why:

Purchase Protection: This is a unique benefit which is offered on most of their cards, including the entry level American Express Blue Cash. On eligible purchases, you’re covered for the first ninety days in the event of theft, accidental damage, or even if you just loose the item. This is an extremely valuable benefit which is not offered on any other major credit card. (more…)