Credit Card Facts and Stats

-Americans owe approximately $850 billion in revolving credit card debt.i

-As of 2007, 73% of all American households had credit cards and 60% of these households carried a balance. The average balance for households that carried a balance was $7,300, up 30.4% from 2004.ii

-Low- and middle-income households have an average of $8,650 in credit card debt.iii

-The total amount of credit made available by issuers in 2007 was about $5 trillion, or $43,007 per household.iv

-Even as the economy worsens, Americans continue to be inundated with offers of credit. In 2008, issuers sent 4.2 billion credit card offers in the mail - nearly four times as many as the 1.1 billion sent in 1990.v

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MY CREDIT CARDS ARE LOST OR STOLEN

WHAT SHOULD I DO IF MY CREDIT CARDS ARE LOST OR STOLEN?

Phone the credit card company immediately, and report that your card is lost or stolen. Your monthly billing statement will list the phone number for reporting lost cards. Be sure to get the name of the person you talked to. The issuer will cancel your card so no unauthorized charges can be made on it.
To create a record for the company and for your own files, write to the company after you have phoned. Include your name, address, account number, the date you believe the card was lost or stolen, and the name of the person you spoke to when you called the company.
You will not be liable if you notify your issuer that your cards were lost or stolen before unauthorized charges are made. If your cards are used before you report them missing, the most you can be liable for is $50 per account.

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ADVANTAGES OF USING A CREDIT CARD

WHAT ARE THE ADVANTAGES OF USING A

CREDIT CARD?

■ They allow you to make purchases on credit without carrying

around a lot of cash.

■ They allow accurate record-keeping by consolidating purchases

into a single statement.

■ They allow convenient ordering by mail or phone.

■ They allow you to pay for large purchases in small, monthly

installments.

■ Under certain circumstances, they allow you to withhold payment

for merchandise which proves defective.

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DISADVANTAGES OF USING CREDIT CARDS

■  The ease of using credit cards, combined with impulsive buying, may result in over-spending.

■ High interest rates, as well as other costs make credit cards a relatively expensive method of obtaining credit.

■ Lost or stolen cards may result in some expense ($50.00) and inconvenience.

■ The use of multi-credit cards can get you even further into debt.

■ Fraudulent or unauthorized charges may take months to dispute, investigate, and resolve.

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CREDIT CARD PROTECTIONS ?

Federal law protects consumers when they use credit cards.

Protections include the following items:

Prompt Credit for Payments:
A card issuer must credit your account on the day the issuer receives your payment, unless the payment is not made according to the creditor's requirements or the delay in crediting your account does not result in a charge.
 Refunds of Credit Balances:
When you return merchandise or pay more than you owe, you have the option of keeping the credit

balance on your account or requesting a refund. To obtain a refund, write the card issuer. The card issuer must send you the refund within seven business days of receiving your request. Also if a credit balance remains on your account for more than six months, the card issuer must make a good faith effort to refund the credit balance. 
Errors on Your Bill :
There are specific rules that the card issuer must follow for promptly correcting billing errors. The issuer must furnish you a statement describing the rules when you open a credit card account and at least once a year after that. Many issuers print your rights on their monthly billing statements. You must notify the

issuer in writing at the address specified for billing errors within 60 days after the first bill containing the error was mailed to you. The issuer must look into the problem and either correct the error or explain to you why the bill is correct not later than 90 days after the issuer receives your billing error notice. During that period you do not have to pay the disputed amount or interest on that amount. 
Unauthorized Charges:
If your credit card is used without your authorization, you can be held liable for up to $50 per card. If you report the loss before the card is used, federal law says the card issuer cannot hold you responsible for any unauthorized charges. If you have a lost or stolen credit card, report the loss as soon as possible. Most issuers have a toll-free number in service 24 hours. You should follow-up your phone call with a letter. 
Disputes About Merchandise or Services:
If you have a problem with merchandise or services that you charged to a credit card and have made a good faith effort to work out the problem with the seller, you have the right to withhold from the card issuer payment for the merchandise or services. If the card you used is a bank card or another card not issued by the seller of the defective merchandise, you can withhold payment only if the purchase exceeded $50 and occurred in your home state or within 100 miles

of your billing address.

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CREDIT CARD PROTECTIONS ?

Federal law protects consumers when they use credit cards.

Protections include the following items:

Prompt Credit for Payments. A card issuer must credit your

account on the day the issuer receives your payment, unless the

payment is not made according to the creditor's requirements or the

delay in crediting your account does not result in a charge.

Refunds of Credit Balances. When you return merchandise or pay

more than you owe, you have the option of keeping the credit

balance on your account or requesting a refund. To obtain a refund,

write the card issuer. The card issuer must send you the refund

within seven business days of receiving your request. Also if a credit

balance remains on your account for more than six months, the card

issuer must make a good faith effort to refund the credit balance.

Errors on Your Bill. There are specific rules that the card issuer

must follow for promptly correcting billing errors. The issuer must

furnish you a statement describing the rules when you open a credit

card account and at least once a year after that. Many issuers print

your rights on their monthly billing statements. You must notify the

issuer in writing at the address specified for billing errors within 60

days after the first bill containing the error was mailed to you. The

issuer must look into the problem and either correct the error or

explain to you why the bill is correct not later than 90 days after the

issuer receives your billing error notice. During that period you do

not have to pay the disputed amount or interest on that amount.

Unauthorized Charges. If your credit card is used without your

authorization, you can be held liable for up to $50 per card. If you

report the loss before the card is used, federal law says the card

issuer cannot hold you responsible for any unauthorized charges. If

you have a lost or stolen credit card, report the loss as soon as

possible. Most issuers have a toll-free number in service 24 hours.

You should follow-up your phone call with a letter.

Disputes About Merchandise or Services. If you have a problem

with merchandise or services that you charged to a credit card and

have made a good faith effort to work out the problem with the

seller, you have the right to withhold from the card issuer payment

for the merchandise or services. If the card you used is a bank card

or another card not issued by the seller of the defective

merchandise, you can withhold payment only if the purchase

exceeded $50 and occurred in your home state or within 100 miles

of your billing address.

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HOW DOES A CREDIT CARD WORK ?

When you have been issued a credit card you are given a line of

credit. You can make purchases or receive cash advances up to

that amount with your card. When you make a purchase, the

merchant gives proof of your purchase to the credit card company

and they pay the merchant on your behalf; in effect granting you a

loan.

The credit card issuer then bills you for reimbursement of the

purchase or cash advance amount. You can either pay the balance

in full or make payments. The issuer must send you periodic billing

statements giving you information on your account which includes

the minimum payment due, date it is due, and the periodic interest

rate on unpaid balances.

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HOW DOES A CREDIT CARD WORK ?

When you have been issued a credit card you are given a line of

credit. You can make purchases or receive cash advances up to

that amount with your card. When you make a purchase, the

merchant gives proof of your purchase to the credit card company

and they pay the merchant on your behalf; in effect granting you a

loan.

The credit card issuer then bills you for reimbursement of the

purchase or cash advance amount. You can either pay the balance

in full or make payments. The issuer must send you periodic billing

statements giving you information on your account which includes

the minimum payment due, date it is due, and the periodic interest

rate on unpaid balances.

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BEST CREDIT CARD FOR STUDENTS

What are the characteristics that you look for when you are looking for a good credit card for students? Offer several different reasons and many details attached to them.

Fees: All credit cards have fees of some kind, but some have less than others, as an annual fee. Do not want to have to pay an annual fee to use a credit card, as it is just extra money that the company needs to use your card. There are also late fees, cash advance fees and spending limit. So find the one with the least expense, because in the end, will help especially if you have an emergency.

Reward points: Many of these cards offer cash rewards and 1% on all purchases. This is a cash in your wallet is a good thing for students and can be used for supplies and textbooks. Look at all the limitations and what types of reward points are offered in multiple purchases again.

April: APR is the annual percentage rate, which is the rate that is charged to your account for the amount of money currently being charged to the card. Many companies offer an interest rate of zero percent incentive for the first time in many months. After the APR is determined by your credit score and ability and generally has a range that can fall in the middle. You want to make sure you find the best April you can from the smallest to the April less money you pay.

Protection: good student credit cards offer protection against fraud. This is important if you ever lose your identity card or because the company will pay whatever you have not loaded the card itself. Many cards also offer travel assistance and free insurance car rental.

You want to make sure you find the right loan for you as a student and what will work today and maybe with you in the future. Read the fine print and find the best credit cards for students.

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LEARN HOW TO CHOOS THE BEST CREDIT CARD

        With the use of credit cards comes great responsibility and guidelines are easy to find. Do not abuse, do not spend money you can not afford to pay, do not open too many credit accounts, etc. However, the use of credit cards continues. Credit cards are very useful, in fact, that many companies have seen strong demand, which makes the highly competitive market of consumer choice. Before registering a card impulsively, take a moment to make sure their plastic suits your needs. And before you write off all, consider the benefits.

Credit cards are tools for the trip because many automatically convert your money in different currencies. They can also serve as an identity card, especially when they include your photo. They are better than walking around with a lot of money that can be stolen or travelers checks as stolen cards can be reported before and prevent their use.

So what type of card is right for you? The easy answer is, if you are struggling to pay your balance in full each month, or if you want to consolidate your debts. In both cases, you have to find a card with a low interest rate. If you pay your balance in full each month, or if you are interested in these cards rewards programs, the decision is becoming more complicated.

Cool or not cool ?

A free rewards card is perfect for people who pay off their balance in full, but do not use credit cards greatly. For consumers credit card, a credit card that comes with an annual fee could end up paying for itself awards. To take full advantage of rate cards, however, you must make an assessment of how often you actually use credit cards. Otherwise, no fee card is your best option.

Navigating the reward system

To see reward systems are best suited to your needs, consider their offers on the basis of the amounts paid for these awards. Cash back is easy to calculate that species such as gift cards to some shops, but airline miles point systems can be more of a challenge. Calculate what you would pay for airline miles or bonus points and calculate the monetary value so that you can easily compare the very different compensation systems reward.

One aspect of reward systems that can make it easy to choose one card to another is when reward systems to maximize benefits for certain types of purchases, such as gas or groceries. If you decide to use one of these credit cards, which is clear in its portfolio if also often as possible for the type of rewards card purchase.

What companies want?

It is important to know early on what companies probably deny your request if you have bad credit. Free credit reports are available annually and can be found online from various websites free credit report. If you have a bad credit, select a card company will work with you. To apply for many cards in a short period of time is a bad idea because companies typically run your credit check, the higher your credit score will be negatively affected. People who take a lot of credit accounts are considered superior to those without risk.

Do your homework

Learn everything you can about what cards are most attractive for your particular needs and open an account with the first option. If you open multiple accounts to determine which is best for you with the intention of closing the other, your credit may be adversely affected due to multiple accounts at the same time that may indicate an increased risk.

Click the link below and compare the best credit card deals and read reviews about the best low interest, balance transfer 0%, reward, cash back, prepaid, student, airline, business cards and instant credit approval.

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7 interesting things about credit cards

Fact # 1: You have rights under the Credit Assessment Act. Have you seen his monthly statement lately? If you have and you've observed that there are errors, inconsistencies and fraudulent charges even advise you to play immediately with the credit reporting agencies. Always remember that Credit Reporting Act protects consumers against unauthorized transactions, provided that they can report these items to their respective card issuers, in two or three days.

Fact # 2: All credit card issuers reporting by consumption activities in time to the three major credit bureaus. Therefore, if you want to use a secure account to start or rebuild their credit card, then you should ask your card issuer advancement, which has close ties to the credit reporting agencies work. If your answer is yes, then you can make your account application credit card. Otherwise, you may have to look for other companies that can help you achieve your goal of building or rebuilding credit.

Fact # 3: As a curiosity, other fees and charges imposed on different card accounts. For example, secured credit cards come with deposit requirements. Meanwhile, other programs may require you to pay financing costs and other related costs, depending on the operations you will use your credit card.

Fact # 4: Credit cards are not one and the same. In fact, come with interest, fees and charges, terms and rates of payment options, credit limits, and highly variable application.

So to get one that suits your needs, affordability and preferences, it is your responsibility to shop around and compare the features imposed on the various card programs. Thus, the most likely end up with a credit card that will surely work to your advantage.

Fact # 5: Some credit cards charge different prices in different operations. Some cards today carrying various types. In addition to the interest rate to be charged on the invoice, purchases and expenses, you may also incur costs for cash advances, balance transfers and other additional facilities.

This means that if you intend to keep your credit minimum payment, you must use these features sparingly. In fact, we suggest using ONLY IF IT IS ESSENTIAL.

Fact # 6: Managing multiple credit cards is a big no-no, especially if you want to repair your credit. This is due to several credit lines, the risk of a huge financial obligation actually increases, especially if you find it difficult to control your spending habits. So far as possible, take into account the advice of experts to handle more than two card accounts at once.

Fact # 7: You can opt for a fixed rate or variable. In fixed rate programs, you can set a low interest rate credit card you want to use, for the duration of the credit agreement. On the other hand, programs floating rate, the interest rate may start small, but soon could skyrocket depending on the changes that will occur in the current market rates.

finally you can have ideas about most credit card . and what diffrent bettwen credit card and other  check other article .

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CREDIT CARD DEFINITION

          A card issued by a financial company giving the holder the ability to borrow funds, usually at point of sale. Credit cards charge interest and are primarily used for short-term financing. Interest usually begins one month after a purchase is made and borrowing limits are pre-set according to the credit rating of the person.

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