Article Advise

submitted: Aug 21st 2008 | by: KrisCalusa | Total views: 1 | Word Count: 923 | |

As the housing market continues its decline, and as the availability of credit gets more expensive or vanishes altogether (even for individuals who are good credit risks), there has never been a better time to check your purse or wallet and make sure that you're getting the best deals you possibly can with the credit cards that you are carrying. If you're like me, you have several different credit cards and you're pretty fond of the ones you have. You don't overuse them, you pay the bill regularly, and you keep the balance at a manageable level, if not always at zero.

What I described in the last paragraph is the responsible use of credit cards, and millions of individuals do just that - they enjoy the advantages and convenience of credit cards year in and year out, using their flexibility responsibly to ease financial transactions every day. There's a problem with this behavior though: this is just what the credit card issuing companies hope for, because as you become lulled by the ease and convenience of these financial tools you are less likely to shop and compare the deals that different credit card vendors offer, and you are less likely to discover that the credit card deal they offer stinks!

The credit card business is a very competitive one - there are hundreds if not thousands of credit card issuers all vying for your business. The result of this is that just about as many different incentives are offered to entice you to use a particular vendor's product. Award points. Cash back. Low interest. Zero interest introductory offers. Low interest on balance transfer. Travel services. Roadside assistance services. The list goes on and on. You may be familiar with all of these services, but remember, they're only offered because the business is so competitive. I'll guess that it's been a good long time since you've shopped those services to make sure that you're getting the very best value that you can.

Shopping for credit cards can really save you a ton of money in fees and interest. You need to make sure that you find credit cards that match your spending and payment habits, and it's good to have more than one. Here are a few tips that you can use:

1) Understand the features of your credit cards. If you are able to pay your bill in full every month you do not have to worry about the interest rate offered and can instead focus on other features such as frequent flier points, cash rewards or other award points. If you're not interested in any of these features, you should shop for a credit card that has a longer grace period - the period of time between when you purchase an item with your credit card and when interest begins to accrue.

2) Compare features and costs frequently. Interest rates and features attached to credit cards change over time, and what you thought was a great deal when you signed up for your card several years ago might not be such a great deal now. Often you will find that other credit card offers abound that are better suited to your individual needs than the solutions you have in your purse or wallet. Check frequently. When you find a better deal, jump on it. (Look for zero interest balance transfer offers. One of these can be an excellent offer if you manage the transferred balance diligently.)

3) Know your rights when using credit cards. One of the beauties of credit cards is the added security they offer over cash. If your credit card is ever lost or stolen you will never have to pay more than fifty dollars of any charges made on the card. The Federal Truth in Lending Act guarantees this protection. If you are ever offered the chance to purchase "credit card insurance" - don't bother. You don't need it to cover anything over the initial $50 of unauthorized use.

4) If you have a problem with your credit card, file a complaint. If you ever find that there is an error on your credit card bill, make sure you write the credit card company within sixty days of the date on the billing statement. Make sure you send them your name and account number, tell them that you found an error on the bill, explain the error and give them the amount and date of charge. When you pay that month's bill you can pay all other parts of the bill but you don't have to pay the disputed amount, any part of the minimum payment that is attributable to the disputed charge, or finance charges that apply to it. This protection is guaranteed through the federal Fair Credit Billing Act in the United States, and by similar legislation in other countries.

It's pretty simple to understanding the rights and the features attached to your credit cards - they are enforced by law, are common to all cards and don't change. Shopping for credit cards is another thing! It's an ongoing task that you should do periodically over time. Set a schedule and once every six or twelve months, spend some time reviewing the offers available online. Credit cards are easy to shop online, and you will find that you save yourself a lot of money by shopping.

About the Author

Shopping for and applying for the best credit cards is a simple process. Our website offers many different and feature-filled products and we make it very easy for you to apply for credit cards online. Please visit our site for your credit needs.

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