|
Tip
#1
Pay For Online Purchases
With Your Credit or Check Card
Using
your Visa, or major credit card online is easy. And
you're protected in exactly the same way you are
when you use your card at the store, order from a
catalog by mail, or call in an order over the phone.
In the case of a problem, you always have safeguards
from Visa and MasterCard against unauthorized card
use, theft, or loss.
Tip
#2
Keep a Record of Your Transaction
Just as you
save your receipts when shopping at the mall, you'll
want to keep a record of your Internet purchases.
Back up your transactions by saving and/or printing
the online confirmation of your order. These records
are just like the receipts you keep when shopping in
the physical world.
Tip
#3
Secured Credit Cards
If you have
no credit or a negative credit history, it can be
difficult to obtain an unsecured credit card. But,
what you may not know is that you may be able to
qualify for a secured credit card, which can offer
many of the same benefits as an unsecured card. A
secured credit card is much like a secured loan. You
are required to deposit money into a savings account
or a certificate of deposit as collateral for a line
of credit. The card has the same appearance as an
unsecured card and usually offers the same
convenience and charging privileges as a traditional
unsecured credit card.
While
almost anyone can apply for a secured credit card,
there are some limitations. Most issuers do not
accept applicants that have been convicted of credit
card fraud, have outstanding liens on their
property, or are filing for bankruptcy.
Finding
the best card for you requires research. You should
determine what features are most important to your
financial situation and spending style, measuring
them against the costs associated with each offer.
Factors such as application fees, annual fees,
finance charges, accrued interest on the deposit,
available line of credit and minimum savings deposit
are some of the most important considerations.
In
most cases, an application fee is required by the
insurer, which adds to the cost of obtaining a
secured card. The fee is usually non-refundable,
even if you're not accepted by the issuer.
Once
you're accepted for the card, you are required to
make a deposit into a savings account or certificate
of deposit as security. The average minimum deposit
required can run around $300. The amount of money
you deposit should depend on your income and the
line of credit desired. However, some insurers will
offer credit the same or greater than the amount
deposited; some others may offer a credit limit
lower than the amount deposited.
Most
issuers will pay you interest on your security
deposit. The more money you wish to or are required
to deposit, the more important it is to have a card
that offers respectable interest payments.
Like
most secured credit cards, insurers of unsecured
cards charge additional fees for use of the card and
services associated with the card, such as, cash
advances, late payment fees, and fees for charging
over the limit or non-sufficient funds. Carefully
review all information provided by the issuer to
determine how and when such charges will be
incurred.
If
you wish to cancel your secured card, do so in
writing. Credit card issuers have different policies
concerning the amount of time before you receive
your refund. Also, keep in mind that if you have an
outstanding balance, most card issuers will use your
security deposit to pay the remaining balance.
Recommended
Secured Cards:
» Advantage
International
» Elite
Plus Visa
» Wired
Plastic
.
Tip #4
Student Credit Cards
Student
credit cards can be used anywhere in the world where
it is accepted. When choosing a student credit card
make sure that you look at the Annual Interest Rate.
Most student credit cards have a very high APR. Most
Student Credit Card Issuers will give student card
to any student who applies.
|
Publications
Quick
Clicks