Credit Cards

Credit Cards

No Annual Fee Credit Cards: Are They Right For You?

As credit card lenders battle to regain the top spot in our wallets, we're seeing an onslaught of awesome credit card deals offering incentives like huge signup bonuses and newly revamped rewards programs.  However, there is one credit card perk that, at least for me, stands out from the rest—the almighty no annual fee.

No Annual Fee Credit Cards

The importance of no annual fee credit cards is fairly straight forward. While other credit card rewards can be complex and confusing, freeing yourself from a big annual fee benefits everyone in the same two ways:

Who Invented the Credit Card?

[caption id="attachment_4493" align="aligncenter" width="500" caption=" "]Amex Blue credit cardPhoto by TaxBrackets.org[/caption]

Credit cards certainly aren't a new phenomenon. In fact, credit cards are nothing more than a physical representation of an old accounting technique that simply puts things “on account” –accounts payable if you owed someone and accounts receivable if you were expecting payment from a customer. Generally, such transactions were limited between businesses, and much of the system was based primarily on the integrity of the company doing the borrowing.

However, consumer credit using cards officially began in the 1920s when select oil companies and hotels would give pre-approved customers the ability to put their charges on account. Such “cards” were limited to transactions occurring only between select customers and the firm from which they were purchasing. Several years later in 1938, companies began to accept cards from other retail merchants too.

Best Credit Card Commercials Ever

The recent ups and downs of the economy provided quite the challenge for credit card companies. While many think they were raking in the cash from fees and interest, we can’t forget all the money they lost because of charge-offs and bankruptcies. As many consumers fled the credit world, Visa, MasterCard and others had to kick their customer-acquisition efforts into high-gear. Because of fluctuating, and often falling, revenues, these companies wanted to be part of our every day laughs and praises to friends. The art of the commercial has thus skyrocketed, and now you can barely turn the TV on without catching a 30-second blip about credit cards. And true, we probably shouldn’t apply for a credit card simply because of an awesome commercial, but we definitely should enjoy all their great work! Below are 5 of the best credit card commercials ever: 5. Capital One, David Spade on Credit Card Rewards http://youtu.be/Mv3M-XotQkQ One of the best ways to overcome the fear and frustration of credit, is to break the tension with humor. Capital One pokes fun at an annoying conversation that we have all had at some point or another. Once we’re all nodding along with the clip, they drop the news that what they have is different - a credit card with rewards program that is easy to understand and use. Very effective.

Using Credit Cards to Fund Your Small Business

Credit cards can often be a double-edged sword. When used incorrectly, they can destroy the most seasoned financier. However, when used in wisdom, they can be a powerful wealth generating tool. Perhaps you own a small business and supplies need to be purchased today to ship to a customer, but you won't actually receive payment for a couple of weeks? While new businesses low on cash flow may find difficulty in funding short-term operational needs, interim cash flow shortages can often be remedied through the use of credit cards and other forms of revolving credit. In fact, using no interest credit cards can be a great way for entrepreneurs to fund small expenses while getting a business up-and-running. Access to quick cash is essential for nearly any business’ operations, and even after you've passed the zero interest grace period, the card can still be useful in the normal course of one’s business dealings.

Top 4 Places to Use a Credit Card

It seems like everywhere you turn on the internet these days, there's a blog post warning of all the dangerous places to use a credit card. While there certainly are shady businesses out there that you should be wary of handing your precious plastic to, it's summer and thus a great time to focus on the positives. For every business that may have a negative impact on your credit history, there are countless more that remind us of the joys of using credit cards. Here are just a few of the best places to savor every swipe.

 

Things You Used to Be Able to Buy With a Penny

I was fortunate to spend more time than usual chatting on the phone with my Dad for Father's Day last month. We should definitely spend more time talking, because he’s a great man that has taught me some of the most important financial lessons in life: budgeting, leveraging 0% interest credit cards and loans, and working with my spouse to find common goals and aspirations. Like most older gentlemen, he has also spent hours upon hours telling me about how things used to be. One of his stories popped in my mind during work today, while I closed a savings account that had one cent of unposted interest. As I made a joke to my client about not spending all that new interest in one place, I remembered my dad telling me of all the things he used to be able to buy with a penny.

How To Transfer Your Credit Card Balance

Transferring a balance from one credit card to another isn't rocket science. The real science lies in finding the best credit card offer available so as to take advantage of  low introductory interest rates. In addition, there are a number of other equally important tips to consider prior to executing a credit card balance transfer. Almost all of them deal with finding the right "one." I would liken it to dating before marriage. You would never want to put marriage first and dating second. Chances of failure increase almost exponentially if you fail to do your homework and check out various "offers" before you make a decision. Get my drift?

Solstice Celebrations to Use Your Miles On

Who doesn't love to travel? With unlimited resources, my wife always claims she would travel the world repeatedly. While I'm not that much of a fanatic, I do love to hop on a plane and take a trip to interesting and sometimes exotic places. Certainly, getting away from the daily grind often provides enough respite to aid in the maintenance of mental sanity. That said, there are several solstice celebrations occurring worldwide this coming week which could prove inflicting for the travel bug. And for those with airline rewards credit cards, it'll make it that much easier to cast-off all responsibility for a few days and get outta Dodge.

Off the Chart Credit Card Art

Credit cards have a lot of power in the art world. Of course, you can use a credit card to purchase art from a gallery. Some credit cards benefits will even give you free admission to an art museum over the weekend. And a few credit cards designs are so cool; they can be considered their own works of art. However, have you ever thought about creating your own thing of beauty using your expired credit cards? From paintings to sculptures to gardening props, you'll be astonished at the possibilities. Here are some of the most amazing examples of artists shredding their plastic in the name of off the chart credit card art.

Credit Card Art on the Wall

 

Dave Ramsey Headquarters Art

Source: http://moneysavingmom.com/

Why Business Credit Cards Pose More Risk

Many individuals fail to recognize the major differences between business cards and consumer cards when searching the web for the best credit card offers. Unfortunately, due to this lack of understanding, households may find themselves at greater risk to higher fees and penalties when they choose business card offers over those marketed only for consumer use. This is because the Credit Card Act of 2009 does not apply to business credit cards at all. And since one in ten card offers sent out by credit issuers each month are for business cards, this means that many of the credit card offers landing in your mailbox will not protect you from undue risk.

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