What Is A Secured Credit Card?

We will all need a credit card at some point in our lives. We need them to make hotel reservations; and we need them if we want to rent a car. A secure credit card is a credit card that requires a collateral deposit, which will become the credit line for that account.

That account is frozen for when you have a credit card; if you can’t pay your monthly fee, then the money that you owe the company will be taken out of that account. You can, if you wish, add more to that amount, so that you can feel a bit more free when using your credit card to make purchases; however, not as many people will have a secured credit card because they do sometimes charge an application fee. And they all charge an annual fee, which vary dramatically, so remember to shop around to find the best deal for you.

Most secure credit card companies will give you a credit line equal to the amount you deposited; however, some will only give you a certain percentage of your deposit, but then others will offer you double what you deposited, so always ask your issuer about their policies. The deposit you make will usually have to be around $100 to $500.

Some companies will increase your credit line without your paying another deposit, but only if you have paid them their monthly amount, correct and on time for several months; this can be seen as a bonus for keeping within the rules that you signed up for. But be cautious. Some companies will even charge you a fee when they increase your account. If you don't read the fine print, you may miss this agreement.

Secured credit cards are a more safe way to shop, knowing that your deposit is at risk if you overspend; it makes you feel more inclined to spend less and stick to your budget.

What Is A Credit Card Holder?

Credit cards come in all shapes and sizes to suit the credit card holder. Due to the fact that many people own more then one credit card, they will need a place to put them without having to cram their wallets with them. This is where credit card holders come in.

Of course there is the added protection of being able to keep your credit cards at home when you go out. This is an especially good idea if you are known to go on spending sprees.

If you own a credit card wallet, then you know already that it does make life easier for you. No more unsafe spending sprees when you are out shopping. However, if you do always pay your credit card bill on time, then it may be good to have your credit card stored in a different wallet, so that if you do get stuck somewhere or you do have to pay a certain bill, then you can do so with your credit card.

If you really want to be safe and keep a record of all your purchases, then you can get a credit card jotter that allows for you to keep record of up to six credit cards on one side of a small pad of paper. If you feel that is what you need in order to pay your bills on time, then by all means get a jotter or a wallet to prevent you from buying and to keep you within budget when you do.

Your credit card is ultimately your most prized possession in your wallet. If your credit card is stolen, then you can deactivate it by phoning your card issuer who will always be willing to help. They will then issue you with a new credit card. But if you had your normal wallet with all your money and other cards and personal possessions, then losing the items in there are always harder to replace, so keep your credit card safe with a credit card wallet.

Follow These Simple Steps To Get A Higher Credit Limit

Everyone would love a higher credit limit; the main reason for this is so that you can then buy luxury items that would otherwise be unavailable. Obviously a higher credit limit means more responsibility and the need for more will power when walking through a shopping mall. If you don't have the discipline to tell yourself no, then this may not even be a good option for you.

However, if you are disciplined and still want a larger credit limit, there are a number of ways you can go about getting one.

One simple way to get your credit limit increased is to obey the terms and conditions that your credit card issuer gave you when you signed up for the credit card. Staying in their good books is always a bonus to your credit rating, too.

Many people gain a higher credit limit by showing the issuer that they are sensible with their money. Being a responsible borrower can give the companies a nice little reminder that you are always paying your bills on time. In addition, you should try to stay within your credit limit to show them you are capable of controlling your spending power.

You may think that having a higher credit rating may be the greatest thing to happen to your credit card, but there are some small pointers to remember when you are given a higher credit limit. It will increase the risk of your having to pay greater interest charges plus other processing and late fee charges.

So even though your limit has expanded, just slipping over that limit once can result in a heavy pay back fee.

The bottom line at the end of the day is that your spending power and previous performance records with other credit cards and banks will determine whether or not you’ll get a higher credit card limit--or if you will be left with your credit limit for a little while longer.

No Credit Check - A Good Idea Or A Black Hole Of Debt?

If you have suddenly realized that you do need a credit card and would like the whole process fast tracked, then a no credit check company may be right for you. However, if you want a credit card, but do not have the credit rating needed to get approved by other companies, then it might be best to consider whether you really do need a credit card, especially if you think that you are going to end up in a whole lot of debt.

There are companies that actually offer credit cards to people who have troublesome credit histories. This opportunity, as you can imagine, is very tempting to an individual whose credit rating is not the best. These companies do want to help you get a better credit rating; and these kinds of credit cards may be the ones that get you back on track. But it seems that the companies are cutting out some of the benefits that other cards are getting.

If you are granted a credit card from a company that specifies in helping you rebuild your credit history then you will have to most of the time pay an annual fee for your credit card, which can be off putting to the consumer.

If you are planning to go for a credit card without having a credit check, then you must be absolutely positive that you can pay the fees every month. While these companies do want to help you improve your credit history, they will also expect you to help them by paying back the monthly fees; otherwise they can come down hard on you, and your credit rating will fall to new lows.

You must really show that you are determined to keep up with the monthly repayments; and show them that you deserve to be approved. Even though we know that a no credit check nearly automatically guarantees you a credit card, you can definitely increase your chances by raising your credit rating.

Interest Free Credit Cards - A Good Way To Begin Your Credit Card Experience

When you are first issued with a credit card, you may have an interest free option for a limited amount of time. This is a good way for you to “test drive” the credit card before the interest goes back to its normal level for every other customer. The simple pleasure of being able to shop around and spend your money without the tension of being levied any extra amount is a perfect way for you to believe that all credit cards are a gift from heaven.

Interest free credit cards are a handy tool for when you are looking at making a big purchase and you would prefer to repay the amount in easy installments. Unfortunately, credit card issuers do generally like to hide the actual APR that you will have to pay after the interest free period is over.

The best way to avoid any nasty surprises is to make that big purchase and pay off the amount before the interest free period is over. Many issuers will offer a six-months to one-year interest free period, which is plenty of time to pay back the amount owed.

The best way to get the greatest card with the lowest APR is to browse around and see what people are offering. If you see a great long-term interest free period credit card, you are free to ask the issuer what their APR is after the interest free period is up; and they have to tell you. If they don’t, then they have just lost themselves a customer; most companies will prefer to display their APR amount, but others will hide their amount and will prefer the customer to focus on the big flashy signs with Interest free credit card branded all over it.

Accepting these offers without checking out the APR is a good way to get yourself trapped in the world of credit card debt if you're not careful, but if you proceed with caution, then you should have no worries about any form of credit card debt.

Do Credit Cards Make Our Lives Easier?

Credit cards are designed to help us. They help us buy nearly anything that we want online; and when we do buy items online, the credit card's details are sent through a secure server, preventing hackers and scammers from gaining access.

In addition to this, owning a credit card can help you gain a good credit rating if you make the payments. This is vital for later in life, when you want to rent a car or apartment. Employers will sometimes check your credit rating, too.

Having a credit card can also save you money. If you bought $500 worth of items and then paid the $500 back before interest is applied, then you have basically been given an interest free loan. Whereas banks will add interest immediately; and then you have to pay them back more than what you borrowed.

Also if your wallet is stolen, but all you had inside was your credit card--and no cash--then you will not lose any cash at all, as compared to losing the hundreds of dollars you would have to carry in your wallet. Also, one quick phone call to your card issuer can cancel your cards and stop them from being used. In addition, your credit card issuer will send you a brand new credit card to replace the old one.

We all use credit cards to make life easier. Credit cards give us the extra buying power when we need it. And by using our credit cards responsibly, we can build up a good credit rating.

Credit cards also give us more protection over our money by giving us the option of having less cash on hand. Credit cards can help us when we need to afford an unexpected expenditure, giving us constant peace of mind without constantly carrying a wad of cash on our person at all times.