Discover Credit Cards: A Look At The Top 3

Although Visa and MasterCard might be the forerunners of the credit card industry, Discover card has been increasing in popularity over the last decade or so. Except for student Credit Cards, most Discover cards have a comparatively low APR, and they never have an annual fee. They have also been commended for customer service and for fraud prevention. With more than 50 million cardholders and more than 4 million merchant locations, Discover is proving their critics wrong. When they first opened in the early 90's, their competition scoffed and it didn?t look as though they would make it in the credit card industry. They were hoping to brand a new trend in Credit Cards, and they have succeeded after years of marketing and communication.

Here are three popular Discover Credit Cards:

The Miles Card from Discover Card

The Miles Card is one of the most versatile frequent flier Credit Cards in that it allows you to earn miles as well as gift certificates or cash back. Customers earn one mile for every dollar spent, and can choose how they want to redeem their points.

Discover recently increased the bonus miles card holders can earn with the Miles Card to 12,000. On both purchases and balance transfers, the introductory rate is 0%. There are no blackout dates and miles can be redeemed both online and over the phone. In addition, you can redeem your points for flights on any airline. Discover might not offer some of the fringe benefits that accompany Visa and MasterCard Credit Cards, but they make up for it in rewards.

Discover Platinum Gas Card

With gas prices rising nearly every day, many consumers are turning to gas rebate cards to offset the amount they're spending at the pump. Gas rebate cards, such as the Discover Platinum Gas Card, offer cash back rewards for every dollar you spend at gas stations.

The Discover gas rebate card is singularly unique because of its double-reward program. Typically, customers earn 5% cash back on all purchases at gas stations, but if you redeem your cash back rewards with select merchants, you receive double the original amount. Discover offers a 0% introductory APR of 0%, which applies to both purchases and balance transfers.

Customers also enjoy 0% fraud liability and free online Bill Pay. This card does require excellent credit, however, and they do have a minimum spending limit to receive the full 5% cash back. This card has a $50,000 credit limit.

Discover Gold Card

The Discover Gold card is one of the oldest Discover Credit Cards, and is still popular today. Like the platinum card, the Gold card allows customers to earn up to 5% cash back on purchases at select merchants and the cash back doubles if used within the Discover Merchant Network.

Customers can choose between three unique card faces and enjoy 0% fraud liability. Stores within the Discover Merchant Network include Red Lobster, Sharper Image and the Sunglass Hut. As with most Discover cards, there is a 0% introductory APR on balance transfers for the Gold card.

The Gold card requires a good Credit rating and there is a minimum spending limit in order to receive the full 5% cash back rewards. The card offers up to $25,000 in auto rental insurance coverage and up to $500,000 in travel accidental death insurance.

Discover Card is the newest credit card company, but it is growing in popularity as they continue to offer excellent customer service and valuable rewards programs. Take a look at our top three Discover cards and choose the one that works for you.

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Using Your Card: What Is Its Purpose?

There is a wonderful feeling to having a credit card when you need one, but that blanket term "credit card" can be misleading at times. Not all Credit Cards are the same, and this goes beyond the APR that most people are aware of. Before choosing a credit card, consider what it is that you plan to use it for. This can make a big difference in how you use it and what you will pay in charges and fees for using it.

There are some consumers who will pay off their bill each and every month, and rarely, if ever, carry the balance over into the next billing cycle. If you intend to follow this routine, then APR will not matter as much to you. Keep in mind that finance charges do not kick in unless you carry over a balance. If you pay in full, you do not incur finances charges which are based on the company APR.

For those who will be paying the full balance each month, consider a credit card that has a longer grace period and has no annual fees. This allows you to use the credit for little, if any, charge. Do keep in mind, however, that if you happen to lapse and carry a balance, you will have to pay the finance charges and then APR will matter to you.

Most people, however, do carry over a balance and for those individuals it is important to find the credit card that offers the lowest annual percentage rate (APR). The APR is the number that the credit card company will use to calculate your monthly finance charge so the lower this number the less money you will pay.

If you think that you may use your credit card to get cash advances, you will certainly want to look at the fees and charges for that service. It is important to remember that many, if not most, of the credit card companies charge a higher rate for cash advances than they do for purchases. Some companies will charge a substantial amount more and you would do well to avoid using these cards for cash advance purposes.

Many people are lured into poor credit card choices by the promotions that many companies offer. These might include such things as frequent flyer miles, phone minutes, rebates and other things. There is nothing wrong with opting into these programs if they are benefits that you are going to actually use. The old adage that nothing is free applies here as well. Many of the companies that offer these promotions will have a slightly higher APR to help offset the cost of the programs. Make sure you look for that before you sign up, as it may not be in your best interest to pay higher rates for benefits that you will not use.

In order to find out what the APR and other fees are for any particular company, you can visit their website or you can look at the information that comes to you through the mail. Federal law requires that all solicitations and applications for Credit Cards include key information on the rates and fees that they charge consumers. This information must be clearly printed and if you have to hunt for it, then you may want to avoid dealing with that company.

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How To Consolidate Credit Card Debt

It is so easy to get heavily into debt on Credit Cards that you within a few months or even weeks you could find yourself not being able to keep up with the repayments. If this is the case, then you should think about consolidating your credit card debt. Consolidating your debt can make it easier to manage your money problems as well as helping you to save money. Here are some useful hints about consolidating credit card debt.

What is consolidation?

Consolidation is where you take all of your debts and combine them into one debt. For example, if you have 2 or 3 Credit Cards with a balance on them, you could get one credit card to cover all of the debts and transfer each balance onto this card. This way all of your debts are covered in one place and you only have one bill to pay.

How to consolidate?

There are different ways you can consolidate your credit card debt. One way is to get out a loan in order to cover your credit card debts and then pay off your Credit Cards using this loan. Then you can pay back the loan over a longer period of time. Although this is good because the interest rate will be lower than the Credit Cards, it will most likely take you longer to pay off. Another way is to get a credit card that has a limit that can cover the debts you have, or at least most of them. This way you can put all your debts in one place and pay them off.

Cards for consolidation

In order to consolidate your credit card debt onto one credit card, you need to make sure that you get the right card in order to make it worthwhile. Getting a card with a higher or equal interest rate than you currently have will not make any difference. Instead, look for a card with a lower interest rate that will help you to save money and pay off debts quicker.

0% cards

The best cards to get for consolidation are cards that offer 0% interest on balance transfers. Some of these cards offer 0% for up to one year, which will mean that you will pay no interest on the balance you transfer to the card for a year. This can save you a lot of money as well putting all your debt into one convenient place. For example, if you have a balance of around ?3,000 to transfer from 15% cards, with 0% for a year you could save around ?200. These cards are especially good if you can pay off the debt within the promotional period.

Cancel your cards

Remember, when you consolidate your credit card debt, it is important to cancel all or some of the cards that you have transferred from. Although cancelling too many cards can hurt your Credit rating, it is better to cancel them, as this will stop you from being tempted to use them again and thereby further increasing your debt. If you have 2 or 3 cards with no balance, then get rid of all but one of them so that you have less chance of increasing your debt. If you consolidate your credit card debts correctly then you will make paying your bills easier and save yourself money on interest payments.

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Choosing The Right Credit Card For Your Lifestyle

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An Introduction To Credit Cards Rewards

As the credit card companies work harder to compete for consumer business, they are attempting to offer benefits that appeal to a broad range of borrowers. Some companies use promotional rates or transfer specials to entice card switching. Other card companies have turned to reward programs appeal to the needs to some borrowers.

Reward programs are designed to encourage card owners to make use of their Credit Cards by rewarding users for amounts used or specific types of purchases. Programs are designed in a variety of ways. Some are set up on a point basis, where users are rewarded with points based on the amount of credit used or specific products purchased. Other cards offer cash back incentives. For instance, a card may reward the card holder with a 1.5 per cent cash back bonus for each purchase made with the card.

Consumers need to consider their intent of use before agreeing to acquire a credit card. Most card companies offer a portfolio of products. Some products use promotional rates and specials to entice consumers, others use the rewards or incentive programs, others offer grace periods as a way to appeal to borrowers who want to avoid high interest charges. While borrowers with excellent credit may find a card that offers all these benefits, some people may have to pick the products that are most advantageous based on the highlighted benefits.

Points based rewards programs, or those that offer cash back rebates, are essentially intended to promote more use of the card. Credit card companies make money from retailers with transaction fees. By rewarding consumers for using their card, the card companies also generate revenue from the retailer transactions. This enhances the card company's sources of income.

Other card reward programs involve retail networks and special bonuses for buying from specific companies or buying specific products. Card companies sometimes negotiate with certain retail chains in order to set up a mutually beneficial network for consumers. The card companies promote special bonuses or rewards for consumers who buy from retailers within the card network. For instance, a typical 1 or 1.5 per cent cash back program may offer a 5 per cent reward for buying from a network retailer. This rewards the consumer, and also benefits the retailer due to increased demand, and the card provider because of the consumer interest charges and retailer transaction costs.

So are reward programs worth having? If you're a regular card user then you can certainly profit from what you'd be spending in any case, but be sure that the benefits aren't drowned out by interest charges on your borrowing.

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Securing A Credit Card When You Have Bad Credit

Having bad credit can make getting a credit card difficult, but the situation is not impossible. If you need or want a credit card but are worried that your poor credit history will stop you, then you perhaps you need some advice about how to get a credit card even with poor credit. If you follow these steps then you will have a much better chance of getting a credit card:

Retail store cards

If you have poor credit then the best place to start applying for Credit Cards is at small retail stores. These companies are more likely to give you a chance, although their rates are usually much higher and your credit limit will be low. If your application is approved, then buy something small each month and then pay off the bill. This will show other credit card companies that you are able to handle credit and pay your bills.

Go to your bank

After you have had a store card for some time, you can apply for a card at your bank. If you have been with your bank a long time and you have performed well with them, then they might be able to help you out.

Secured cards

If you are unable to get a bank or store card, then try and get a secured card. This involves putting down a deposit that is held by the lender whilst you use the card. This collateral takes away some of the risk for the lender and you are much more likely to be approved for this type of card. If you pay your bills then eventually you can upgrade to a regular unsecured card.

Co-signing

If you are still having problems, then get a friend or family member with good credit to co-sign for the card with you, as their credit will count towards the application. Remember that if you cannot pay the bill they will have to, so be sure you can pay back anything you spend or you will not only damage your credit but someone else's as well.

Avoid annual fees

Even if you are desperate for a card, avoid getting a credit card with an annual fee. There are plenty of cards that do not charge fees, and even if the interest rate is higher you will be better off. Also, stick to well known card types like Visa and MasterCard as they are widely accepted. This will help you to make the most of the credit you have.

Using your card

Once you have a card, remember that you can use it to your advantage rather than putting yourself into debt. Only spend what you can pay back easily, and if possible pay back the whole balance each month so that you avoid paying interest. If you pay off your bills well then your Credit rating will improve quickly and you can get better terms and a higher credit limit.

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Advanta Business Credit Cards: Is Advanta Right For Your Business?

Advanta opened for business in 1951. Its founder, Jack Alter, ran the company from a spare bedroom of his home. Today, more than 50 years after its initial start, the company has grown into a large corporation, specializing in Credit Cards for small business owners. If you have a company and are thinking about getting a credit card to help with finances, Advanta is one of the options you'll find. Here's a closer glance at the pros and cons of an Advanta business credit card.

Made for Businesses

Advanta cards are geared to small business owners, and many of their features reflect that. Some of them are designed so that all of the company expenses can be placed on just one account. This helps streamline operations, making it easier to calculate finances. The credit lines that Advanta offers are remarkably high for the credit card industry, reaching up to $50,000. You also may have the option of including your company's name on the card.

Comparable Rewards

If you do not usually carry a balance, you may be able to take advantage of some of the rewards that Advanta offers. A number of this company's cards include a reward program. With the Advanta Platinum BusinessCard with Rewards, for example, you can choose between earning cash back or points through purchases. With the cash back plan, you'll receive up to a 5% rebate on business-related items, such as computers, electronics, gas and diesel fuel, utilities, telecommunications, and online advertising services. You'll get 1% cash back on other purchases. If you choose the point system, you can earn one point for every dollar that you spend. The points can then be redeemed for travel items or pre-paid bonus cards.

Not for Everyone

While Advanta does offer specific benefits for small business owners, applying for a credit card through them may not be your best option. Generally speaking, you'll need a solid credit background to receive one of their cards. So if you have a history of credit trouble, you may want to look at applying for a different card.

The APR, or annual percentage rate, of many Advanta cards is reasonable. However, it is usually a variable rate, fluctuating with the prime rate. The card's rate is based on the highest prime rate during a 90-day period. This may mean higher interest rates on your card, depending on the status of the economy.

Read the Fine Print

Generally speaking, it's a wise idea to read through the attached terms and conditions before applying for a credit card. The same is true for Advanta Business Credit Cards. While they offer many benefits, they may have potential drawbacks as well. The reward plans or interest rates may not fit your business needs. If this is the case, search online for other options. Many websites carry a variety of cards geared toward small business owners.

Whatever you decide, take the time to carefully weigh the options before you apply. If Advanta has what you need, apply for the card. If not, find a card that suits your business and send in an application for it. When the actual plastic arrives in your mailbox, you'll have a card that can help advance, and not hurt, the small business you've worked so hard to create.

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