Student Credit Card Help 101

A credit card can be a great tool to repair your credit. However, it can also hurt your credit if you don't know how to do it the right way. In this article, I will show you how you can use a credit card for credit repair.

Avoid Electronics and Gadgets. When it comes to cashing in those rewards for an LED TV or DVD player, you should think twice before cashing in those points. If you were to add up all the money for the points earned, you most likely pay three times or more than the actual cost of purchasing it at a retail location.

Home equity loan: Home equity loan could be another option for paying off credit debt. Even though you would be putting your home at stake, the interest rate on home equity loan would be much lower than the interest rate on your cards.

A few years back, there was the story of the merchant who had purchased one of the first credit card terminals, the VeriFone Zon Jr. XL, which was very expensive. He had heard so many stories about his fellow merchants getting swindled on terminals that he vowed never to buy another terminal again.

You get the benefit of having the information about your payments sent to the credit reporting bureaus. A debit card cannot help in this area. Now it is up to you to decide, debit or credit, which is best for you?

Credit Card Processing Speed

Several people don't realize the consequences of an over-extravagant lifestyle until it shows up as a considerable debt burden on them. The ease of use and convenience of plastic cards along with several competitive offers has only spurred on the popularity of the credit card as a method of payment.

Visa/MasterCard use pricing indicators or business types to apply discounts to your rates. In the beginning, Visa/MasterCard used to charge one rate for every industry. Some industries refused to accept credit cards because they thought the rates were too high and cut into the profit margin. Supermarkets were one of the biggest holdouts. So, Visa/MasterCard began offering discount rates to specific industries, card types, and processing methods. This is why there are 440 different rate categories. These discounts paved the way for credit card acceptance at supermarkets, gas stations, and fast-food restaurants.

The guys working on your house. It's one thing to give the handyman money for a little chicken wire (Andy Griffith reference), but handing over your get credit to someone you barely know for a Home Depot run is begging for trouble. Take the time to actually go with them, buy what they need, and remain in control of the financial part of it.

Visa/MasterCard has programs for most industries like restaurant, B2B, MOTO, quick serve restaurants, convenience store, hotel, gas stations, supermarkets, non-profit organizations, insurance, utilities, government, etc.

This last one pains me to say, but your children may also not be the best choice to loan out credit cards. We learned this firsthand lately, loaning our oldest child a card for use in buying gasoline during several trips back and forth to play rehearsals. Imagine our surprise when we received a bill totaling over $700! She wasn't malicious, she just needed money and the card was there. But a little here and a little there adds up.

Finding The Best Credit Card Offer

A credit card can be a great tool to repair your credit. However, it can also hurt your credit if you don't know how to do it the right way. In this article, I will show you how you can use a credit card for credit repair.

Visa/MasterCard use pricing indicators or business types to apply discounts to your rates. In the beginning, Visa/MasterCard used to charge one rate for every industry. Some industries refused to accept credit cards because they thought the rates were too high and cut into the profit margin. Supermarkets were one of the biggest holdouts. So, Visa/MasterCard began offering discount rates to specific industries, card types, and processing methods. This is why there are 440 different rate categories. These discounts paved the way for credit card acceptance at supermarkets, gas stations, and fast-food restaurants.

The guys working on your house. It's one thing to give the handyman money for a little chicken wire (Andy Griffith reference), but handing over your get credit to someone you barely know for a Home Depot run is begging for trouble. Take the time to actually go with them, buy what they need, and remain in control of the financial part of it.

A few years back, there was the story of the merchant who had purchased one of the first credit card terminals, the VeriFone Zon Jr. XL, which was very expensive. He had heard so many stories about his fellow merchants getting swindled on terminals that he vowed never to buy another terminal again.

You get the benefit of having the information about your payments sent to the credit reporting bureaus. A debit card cannot help in this area. Now it is up to you to decide, debit or credit, which is best for you?