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Friday, February 13, 2009

Advantages of Credit Cards

By Amanda Somrekli

Whether you're the owner of a new business or you currently have one, you probably want to know how you can find the newest business credit cards on the market. With so many out there, it's not hard to pass a great offer that gives fantastic rebates that can save your business a lot of money. If you want to find the newest business cards on the market, I'll give you some tips on how you can find them.

Sign up for a newsletter - Most of the major credit card companies have newsletters that you can subscribe to. Simply go to the main credit card company's website and look for a place you can sign up.

Knowing exactly how much is owed every month when that bill comes in is a whole lot better than wondering what your minimum payment is going to be. A low interest card also provides its owner with the ability to transfer balances from higher rate cards. This works to eliminate more debt from accumulating.

These type of sites will provide you with all the latest and greatest business cards on the market. Most of these sites will also have newsletters you can sign up for. Like the major credit companies, the nice thing about these regular sites is that they will inform you of cards across the board from many different carriers.

The nice thing about these types of cards is that most of them do report to the credit card bureaus. You have to remember that if they don't report to the bureaus, you're not going to be able to build your credit up.

Double-billing cycles, or two-billing cycles, are another common way card issuers overcharge cardholders; this practice means that the interest is calculated on the balance over the two prior months, instead of your average daily balance over the previous one month.

Before applying for any form of credit it would be wise to take the time first to ensure that you meet all the requirements for acceptance, as repeated refusals will damage your credit rating further.

The second finding concerns how theft occurred. 84% of those surveyed responded that they did not know the thief. In fact, only 5% of victims of misuse of existing credit card accounts knew who committed the crime.

Clearly, the foregoing facts point to constant vigilance as the key to avoiding identity theft and minimizing any damage if it does occur. What does this mean specifically as it applies to your credit cards?

There are some credit cards offering only minimal protection, or sometimes none at all, if you are unfortunate enough to strike a problem - non-delivery, or damage in transit for example - with goods you've ordered.

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