M Rasing asked:




A number of people are afraid of credit cards. They feel that they will only ruin their financial discipline. They are afraid that they will be buried in debt. Their credit rating might be compromised and they will not be able to apply for personal loans and line of credit in the future.

To these people, I say, you only need discipline! All it takes is discipline. If you are an impulsive shopper or buyer, better leave your card at home whenever you go to malls or stores unplanned.

In any case, it is easy to have your application. You just conduct a credit card review and assess your own capacity to pay and your discipline and I don’t think it will be a big problem. What you need to do is to scout for several banks who offer these products.

Once you’ve identified these banks, go to their websites and check out their offer. Take a look at the interest rates, the annual fee, the financial charges and the other benefits that you could get from them.

Mastercard or Visa? If you ask me, it does not really matter. Both mastercard and Visa are accepted worldwide and both are careful in providing security for their cards. Some other platforms are JCB and American Express. There might be more but these are the most popular. It does not really matter which of these cards you choose as long as they can be used by most merchants and that you have the capacity to pay. If you don’t these banks are going to crucify you and hound you till they put a noose on you for not being able to pay.

Your application can be an easy thing to go through. But remember, using a credit card requires discipline on your part.

Mitchell

jesterx626 asked:


I was looking at airline miles credit cards, and this one has no annual fee. It says the card and the rewards program is fee-free. From their main website: “0.00% Introductory APR (0.0000% DPR) for Purchases for your first 6 months of Cardmembership. Then, a variable APR of 13.24% (0.0363% DPR);15.24% (0.0418% DPR); or 18.24% (0.0500% DPR), depending on our review of your application and credit history.”

Unlimited Travel Choices, Zero Travel Restrictions, Any airline, No blackout dates, Any hotel, No seat restrictions, Any cruise, No Saturday overnight stay requirements, Any car rental, No advance purchase requirements, Any travel package.

How good does this card sound as a airline miles credit card? Any reviews on this card? Basically I just like the idea of spending money on the expenses I usually buy while earning points towards a airplane ticket.
Reply: Hm, how much credit would I need to get that card? So far I went through 3 billing cycles with capital one and paid them all in full each time, and I plan to pay it all off in full for every cycle and any credit card.

Erik

k c asked:


In jan of 2007, when I was 17 years old, I had lied on my age on a credit application to American Express for a credit card. A few days later It came in the mail with a $2000 Limit. I had regretfully used it.

In Feburary, American Express had sent me another CC and I did not use that one nor applied. Also in Feb applied for Chase credit card and also lied on the app about my age. I Recieved it in the mail with a 2K limit. Desprate for rent, I had applied for 3 more credit cards all supplied from chase and had recieved them all with another 3K limit, 5K limit and 2800 limit. And also regretfully used it all.
In the same month I applied for Target (never used but got), Sears (used 250) Imagine(used 300) Credit one(used 300), home depot (used 500) another Imagine(Used 300). I regretfully used them all.
I am scared… Im not sure what to do. Now there in collections. In july I turned 18, and they call looking for the money.
Am I responsible for the debt? What can I do?

Frank

ricky_72749 asked:


Someone referred me to “OPEN Business Network” by American Express, where I wanted to apply for my first business credit card.
The Application was successful, but now in the mail when I got the Gold card, it does not have any ’spending limit’ and it turned out to be a Charge card and if I decide to activate, I have to pay US$125 per year. Amex Rep says that I can use the card for even 10,000 purchase, but I have to pay the FULL amount back within month.
Which means, I cannot pay minimum etc, like traditional credit cards. My question is that how does this kind of charge cards helps small businesses and for what reason one will go for a charge card with no spending limit, but yet so many restrictions.
Any help will be appreciated.
Thanks,

Ricky

Norma

Dave Nichols asked:


If you are about to make a prepaid credit card application it’s likely you will have a number of questions. This short article will answer your main concerns.

What are Prepaid Credit Cards?

Prepaid credit cards are not a credit card as such, as no credit is offered by the card issuer. Money is placed, or “topped-up” on the card first and you can only spend what is available on the card at any one time. But, they carry a credit card brand (Visa, MasterCard, American Express or Discover) and can be used in the same convenient way as a normal credit card.

Who Are Prepaid Credit Cards For?

The short answer is anyone can apply for and use a prepaid credit card. There are no credit checks so, they are particularly useful for young people, teenagers or students, who have not yet built up a credit rating, or people with a poor credit history. But they can also be ideal for people who simply don’t want to run the risk of running up a large outstanding credit balance. They can be used for learning budgeting skills and can even be given as gifts.

Are There Any Charges On Prepaid Credit Cards?

Yes, of course, but as you can only spend what is already available on the card you will not incur any debit interest charges. Charges are typically for: the initial issue of the card; an annual or monthly fee; transactional charges. In nearly all cases the charges are small and dependant on how you want to use the card. For example, some cards have a monthly fee but with minimum transaction charges. Other cards are ‘pay as you go’ in which case there may not be a monthly or annual fee but you will be charged per transaction. You should, therefore, carefully consider how you will be using the card and then shop around for the best deal for you. You may also be charged if you make any transactions with the card that subsequently fail for some reason.

What Can I Use Prepaid Credit Cards For?

Pretty much anything that you would with a normal credit card (provided sufficient funds are already stored on the card.) You can shop on or offline, book travel and hotels, etc. even pay certain bills on some cards. Indeed, some cards act more like bank accounts. You can have your salary / wages paid into the card account and also set-up direct debits, etc. They are very flexible but remember there will likely be a charge for such transactions dependant on the card conditions.

Are Prepaid Credit Cards Safe?

Yes, in fact, in many ways they are even safer than normal credit cards. The amount available on the card at any one time is limited to the balance stored on the card and not a (likely to be) much larger credit card limit. Also many cards allow you to store your money off the card in a related Eaccount. In this way you can ensure that the card is only charged up with what you need on a day to day basis.

So, if you on the point of making a prepaid credit application I would certainly recommend them. They are safe and convenient and a great way to manage your budget.



Clyde

moniquebell asked:


I received an application for AmEx, and it states that one can now utilize a revolving charge account. I thought that was only Visa/Mastercard.
I looked everywhere thru the information and nowhere found a credit limit, as all Visa and Mastercard do.
Anyone know about this?

Luis

axium12 asked:


I was just asked to fill out an Amex Corp Card Application so I can be issued a company card. My question is due to some bad decisions with friends and family my credit is shot. I am currently working with all debtors and am slowly paying them all off. My score is currently low and I have been promoted in my company. If the company is the underwriter but the application is requesting my SS# and current address, will my negative credit affect them issuing me a card ? I really do not want this to adversly affect my long standing relationship with my employer.

Kenneth