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Saturday, February 28, 2009

Credit Card Payments

By Amanda Somrekli

And it's not just security... In addition to security online, there are several other attractive offers to tempt online shoppers. Some 0% purchase credit cards offer an initial 0% interest rate on your purchases for a certain period of time, allowing you to pay off your purchase slowly over the following months and put the worry of interest on the backburner for a while.

This is commonly the process that every card company will abide by. Even so, for those who are applying for a bad credit card there is still hope too because issuers tend to apply a different set of guide lines for people who want to have a card issued in spite of their bad credit standing.

There can be several ways through which consumers can get debt reduction but the most important thing is that they should stop using credit cards immediately or they should minimize the usage of credit cards. This is necessary because if they keep using credit cards than their total debts keep own growing instead of reducing.

Credit card debt reduction is also possible if consumers negotiate with creditors for debt settlement. They can convince creditors by showing their financial situation.

Credit scores are determined by what types of credit you have and how long you've had your accounts open. They look at your payment history too. Even if you've had a credit card for 15 years or more and have an excellent credit rating, FICO score and credit history and you go ahead and close it, you can do a lot of damage to your credit score, and especially if it's the card you've had the longest and it's still an open account.

No matter how many credit cards you have, and no matter what your credit history is, no matter how many payments you've made on time or not on time, no matter how many late fees you've paid or not paid, it doesn't matter. The standard advice from the experts is NOT to close any credit card account.

It makes good sense to find a credit card that offers this perk, particularly if you are a frequent online shopper. It insures you against loss, theft or damage from the moment you buy until your purchases are delivered to your front door.

The advantage to using gas credit cards far outweighs any disadvantages. You can use the cards at the pumps and save time. You can use the cards at affiliate gas stations and you can have a monthly detailed report of your spending.

When comparing credit cards, be aware of the annual fees charged. Some cards charge whereas others don't.

The worst thing a budding entrepreneur can do is to use their own personal credit card to finance their business. This makes it very difficult to separate business and personal finances and makes the businessman personally responsible for the debt.

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