Credit Card Tutorials

A Cashless Society

You can open up your mail, turn on the television or surf the internet without seeing some kind of advertisement for applying for a credit card or what the credit card has to offer.

All the advertisements talk about low interest rates or 0%apr, no annual fees, and you can have the world laid at your feet. However it is the fine print where they get you. Low Interest rates and or 0%apr only apply if you have an excellent credit score. If you make one payment a day late, a late charge applies and the interest rate goes up. Interest rates for cash advances are higher than the interest rates for purchases, and they offer insurance protection for you account for a monthly fee. There are all these little catches that are in the fine print and people don’t bother to read all of these.

Credit card companies even make it easier on you, by applying for a card online now. You can even design the features you want your card to have as part of the getting the credit card. Some offer cash back, while others may other reward points or things like double airline miles.

All the credit cards compete for your business. Each one has its one gimmick to get you to fill out an application and apply for their card. Each card has different types of cards such as a regular account, platinum, gold advantage or even business accounts. The options are limited only by the applicant’s imagination.

More and more people are relying on credit instead of cash to pay for the things and necessities of life. The world is becoming more and more in debt because of this as well. Even you debit cards can be used as a credit card. However, you aren’t charged interest and you should have the money in your account before using your debit card as a charge card.

Credit cards do come in handy when you need to purchase some kind of large item or you have an emergency. They should be used only in the case of an emergency. Never just use them instead of the cash in your account. All that accomplishes is adding to your debt, and no one needs that it today’s economy.