Hot tips to compare business credit cards

As a business owner, every decision of yours can have a long standing impact on your business. You may not know this, but even choosing your business credit card can have profound implications for your business sustainability. So it is important for you to compare business credit cards and select one that suits your business needs. Because wisely chosen business credit cards may well turn out to be the secret weapons that given your business a cutting edge over the competition.

Credit Limits on Your Business Credit Card

First, compare the credit limit of the card. Since, many business credit cards have a minimum and a maximum credit limit, you should have a sound idea of how much your credit limit needs to be. If the maximum credit limit is not enough, or if the minimum credit limit is too little, you might want to pass.

Both extremes are not good for a business. A credit card without a high limit will force you to use more than one card, which will make accounting a nightmare. At the same time, too much credit makes it tempting to splurge, and that could potentially bankrupt your business. Think smart when evaluating a business credit card and find one that offers a credit limit that is just apt for your business.

Compare Interest Rates

While comparing business credit cards, you must consider the interest rates charged by the cards. Generally, start-ups and small offices may not be able to pay the entire balance each month. This is because money is tied up and becomes unavailable for paying off small debts. Therefore, identify a business credit card with the lowest possible interest rates. However, if your business is financially stable, then you might like to consider a card that offers freebies or air mile discounts perhaps. If you see you can pay off balances every month then don’t even bother evaluating the interest rate because you know you can afford to pay off the balances every month. So assess your business situation and your attitude towards credit cards honestly in order to select the best possible card for yourself and your business.

Rewards Programs

Many business credit cards offer rewards like free or discounted goods and services. These rewards may include air miles or discounts on office supplies, for example. However, such business credit cards always have higher interest rates. Therefore, ignore these cards if you generally carry a balance every billing cycle - even though the offers may be very tempting. Gauge the interest rate in comparison to the rewards and you will see that you may pay more interest than the amount of the rewards you have accumulated.

Business cards, much like regular credit cards, offer additional benefits like extended warranties, travel insurance, and purchase protection. The exact value of these benefits, however, can differ from one card to another. The same company can have different schemes on different cards. When you compare business credit cards, evaluate these benefits in detail. Find out as much as possible about these benefits – by questioning the salesmen, scouring the web site of the card, asking for references and actually following up on them. For example, if two cards offer travel insurance - one may only offer a hundred thousand dollars while the other offers a million dollars in insurance. If you travel frequently and you are absent minded, then the latter card is good for you. However, if your business is local in nature or if you travel only a few times per year, then perhaps you should opt for the first card.

What is credit counseling

Credit counseling is a good resort to manage various debts properly. Generally credit counseling is a professional counseling, provided by various organizations to help borrowers for repaying their debts properly. With the help of these organizations, people can manage their debts and lessen their burden.

Credit counseling helps people to overcome their debts burden. Their counseling enables borrowers to pay off their debts with smaller, monthly repayment that is convenient for everyone to pay. Especially credit counseling is required for those who are confused with various debts and different lenders.

These days, credit counseling services are easily available. Many companies provide this service. One can find out this service from his local communities and over the internet. For providing credit counseling service, some companies may charge fees or some organizations do not charge fees for their services. To manage debt problem properly, it is important to find a proper credit counseling service.

However, credit counseling is the best option for borrowers to prevent all sorts of debt damages. The way a credit counselor works is as follows:

•At first, a counselor evaluates a borrower’s condition and on the basis of that he makes a plan. And this plan helps the borrower to pay off his bills. Sometimes, legitimate counseling service can convince creditors to take less than borrowed amount and arrange a longer repayment period.

•In case of credit counseling, most of the time borrowers do not need to pay their bills directly. But, instead of that, in every month they make only payment to the credit counseling service and that amount is distributed among their creditors in accordance with the agreements they have arranged. All together, their arrangement will help borrowers to lessen their loan load and manage their debt properly.

As it is mentioned before that choosing a right credit counseling company is also important. With help of an unprofessional credit counseling company, a borrower can more get into debts, instead of coming out of it. Even more, such kind of unprofessional companies can misguide borrowers too. Therefore, individuals are advised to choose a credit counseling company wisely. In that case, one can take help of local associations of credit counseling companies. By making some efforts borrowers can make this service remunerative for themselves. Borrowers should check the reputation of various companies, duration of their service, and if possible they can try to get the opinion of their previous clients. At the same time, borrowers should bear in mind that at the time appointment with credit counseling company, it is better to present as much of their documentation and paperwork as possible, like proof of their expenditure, their income, the verification of their debts etc.

Credit counseling is offering borrowers a service that will help them to eliminate all confusion and complication regarding various debts and creditors. To manage debts properly and prevent monthly budget from unnecessary loan load, the necessity of credit counseling is unavoidable.

Credit card balance transfer fees

The idea of a balance transfer deal was introduced to the UK in the year 2000 by innovative online bank Egg plc, who offered customers a bait of 0% interest for six months on balances they transferred from another credit card.

The feature was an instant hit, and more and more card issuers began to offer similar deals as competition for customers grew more intense. Before long, it seemed that every card available had 0% deals of ever-increasing lengths.

It didn't take long for savvy cardholders to spot a pretty major flaw in the credit industry's thinking though. With so many cards offering 0% deals, what's to stop people from becoming serial balance transferers, moving their debt to a new card as the 0% period expires? And so the game of credit card surfing began.

People began to systematically switch their balances to card after card, and if they were organised enough to make sure their balance was moved off a card before the interest charges kicked in, then they could avoid paying interest on their debt for as long as there were new cards available to apply for. In effect, the credit card industry was collectively extending millions of pounds of interest free credit over an indefinite period - not a situation they either intended or appreciated.

People could take advantages of balance transfers in other ways, too. Some cards allowed a transfer to a bank account rather than another credit card. It was therefore possible to transfer the entire credit limit of a new card to a high interest savings account, leave it there for the length of the 0% deal period, and then clear the card balance and pocket the interest earnings.

All this added up to a major headache for credit card issuers - the tables had been turned, and their customers were now costing millions of pounds every month to support. This had to change, and so it fell to Egg plc to again introduce a new card feature : the balance transfer fee.

In May 2005, Egg announced that all balance transfers would now attract a 'handling fee' of 2% of the amount transferred. The charge would be capped at Ј50. Other card issuers quickly followed suit, and now most balance transfer deals have such a charge.

So what does this mean for credit card users?

Firstly, before applying for a new balance transfer card, check in the small print whether or not a fee will be imposed. This should be made clear in all advertisements and on the application form, but the credit card industry has a history of subtly hiding unattractive features while accentuating the eye-catching ones, so pay careful attention.

If there is a fee, make sure that there's an upper limit mentioned. While the maximum Ј50 fee may still, depending on the size of your balance, make it worthwhile to take advantage of the offer, cards with no maximum charge are much less attractive.

To sum up, the balance transfer game isn't as straightforward as it once was. There are still ways to save money by taking the maximum advantage of the offers available, but cardholders need to be more wary than before.

Chase platinum credit card chase extends promotional period

Consumers looking to obtain a new credit card may just want consider the Chase Platinum Visa card. The Chase Platinum Visa card has been in existence for a long time, but just recently some strong improvements have been made by the J. P. Morgan & Chase Co. making the card a strong competitor in a highly competitive market. Is the Chase Platinum Visa card right for you? Please keep reading to find out for yourself.

Extended Introductory Rate

In the credit card business, all the top cards are still offering 0% APR for an introductory period. Six months is the standard length of time, with some offering a twelve month introductory rate period. Chase, on the other hand, recently served notice that they are extending this introductory rate out for a full fifteen months to qualified customers! If your credit history is good and your application is in order, you may be eligible for this extended introductory rate offer.

Balance Transfer Offer

When applying for the Chase Platinum Visa card you're eligible to transfer balances from high interest rate credit cards to your new card. You could potentially save yourself hundreds of dollars in interest costs by transferring your balances to your new card.

No Annual Fee

Many platinum or premium credit cards charge annual fees, but with the Chase Platinum Visa card no fee is assessed.

Free Travel Accident Insurance

Chase Platinum Visa cards offer up to $500,000 in travel accident insurance, an amount much higher than what most credit cards are offering today. Save money on insurance premiums as the Chase Platinum Visa card plan includes this type of insurance for free!

Free Car Rental Insurance

Use your Chase Platinum Visa card when renting a car and your rental insurance is completely covered too. For a one week rental, this type of insurance could easily tack on an additional $100 to your bill. With the Chase Platinum Visa card you are completely covered.

Chase’s offer is all the more remarkable in the face of constantly climbing interest rates. As you probably already know, most credit card rates continue to rise along with the upward swing in all consumer rates. Thus, the Chase Platinum Visa card is truly a unique opportunity for the savvy consumer.

So, if you have a good credit rating and are in need of a new credit card, the Chase Platinum Visa card may be just right for you. With credit card rates surging, taking advantage of a card offering 0% APR for 15 months is a surefire way toward saving yourself plenty of money.

The chase free cash rewards visa card offering great cash back rewards

J. P Morgan Chase & Company is successfully serving millions of institutional, private and corporate customers in the United States. Chase is a company of repute and functions in over 50 countries.

Chase has brought for its customers the Chase Free Cash Rewards Visa Card, which provides you cash back facilities. If you are looking for a credit card with such a rewarding option, you can try out this card.

The Card Rewards

The Chase Free Cash Rewards Visa Card offers its customers a fabulous rewards program that makes it possible for you to obtain one point for spending one dollar. This is not all; on reaching the 2500 point-mark, you will get a $25 gift check.

The cardholder also has the option of selecting a $25 gift certificate from a range of retailers and merchants. Furthermore, the credit card gives you the opportunity of earning an extra 1000 bonus points for making your first purchase using the card. The maximum number of points you can earn in a 12-month time-period is 60000 points. The rewards have no expiration period.

The card enables you to be on the fast track for receiving cash back facilities. If you have fabulous credit and desire to have a credit card with a sound rewards program, you can go for the Chase Free Cash Rewards Visa Card.

This credit card, however, might not be suitable for you if you want to carry an occasional large revolving balance, as the card uses the ‘Two Cycles Average Daily Balance’ method for determining finance charges. The makes the card a little expensive in comparison to credit cards using the ‘Average Daily Balance’ method.

Other Benefits

On qualifying for the Chase Free Cash Rewards SM Visa Card, you can get to enjoy a 0% introductory rate, which is applicable for a full year’s purchases and balance transfers. However, with the expiry of the introductory period, you can still enjoy the low rates on purchases and balance transfers. These facilities along with the no annual fee feature are certainly very beneficial for the customers.

The card also comes with other enjoyable facilities, like travel accident insurance, rental car insurance and extended warranty. It also offers access to the usual Chase platinum services and benefits, such as extended warranties for purchases, auto rental insurance and travel accident insurance.

The card also offers facilities like many Internet account related services, many travel and emergency assistant services, and lost and stolen card reporting.

You can also enjoy emergency card and cash replacement, no liability for unauthorized transactions, a financial statement at the end of the year and other benefits. However, it is advisable to be cautious about the applicable limitations, and exclusions.

Understanding your credit report

Your credit report can be one of the most important pieces of information when it comes to your financial health. It is important that you have an understanding of all that it contains and how it relates to future credit you may apply for.

Your credit report says a lot about you

Your credit report tells a lender what kind of borrower you are. It tracks late payments, collection requests, and bankruptcies. It also tracks on time payments, loans that are paid off, and accounts that are opened and closed. It is your history and it can affect your future.

Too much credit can hurt you

It seems silly, but having too many credit card accounts on your credit report can actually hurt you even if you have no late payments and carry a low balance. Lenders worry that because you have the ability to run up high credit card bills, you might accrue a large debt and be unable to pay them back because you have other bills to pay. If you have credit cards in your wallet that you seldom use, close the accounts. Instead of carrying three gas credit cards, trim down to one, or put your gas purchases on a general use credit card.

What you don’t know can hurt you

Credit reports contain a lot of information about you and with the volume of information they are compiling, it is possible that it contains some mistakes. Perhaps you have closed an account that your credit report states is open or you have paid off a balance that is still listed. Whatever the discrepancy, if you notice an inaccuracy on your credit report, it is up to you to contact the credit bureau and get it corrected.

What you don’t do can hurt you

Missing credit card payments costs you more than just late fees. Having late payments reported on your credit report can keep you from getting a home loan or even buying a car and once accurate negative information is on your credit report it takes 7 years to get it erased. It is important to make your payments and make them on time and to carefully consider every purchase you place on a credit card.

Be smart and repay your credit cards quickly

There are few things in life that can cause as much long term strain and pressure as financial worries. Especially if you have children or a family to support, you will be very aware that failing to keep on top of finances is not an option. Therefore, there are certain steps that you may wish to take to make this job that little bit easier and have fewer things on your mind to stress or worry about. One of these pieces of advice will usually be the repaying of your credit cards.

Credit cards are extremely useful and convenient finance facilities, but as we all know, they can charge very high interest rates and in this sense are a very expensive tool to be using, particularly if you are not paying back your full outstanding balance each month. Therefore, it is advisable that if at all possible, you try to repay your credit cards and keep a zero balance on them. This is however easier said than done. For most people, earning the money to repay the card is not really the problem, it is more that they simply keep using the card and spending the money, even though they have realised that they can no longer afford to be maintaining the outstanding balance.

If you do want to clear your credit cards, one of the first things you should do is set up a direct debit or standing order to pay off a certain amount each month. This way you will always pay your bill on time and will not be subject to administrative penalties or fees for late payment. The amount you set for repayment level should be significantly higher than the minimum required repayment. This is because keeping the payment at the minimum will not pay off the credit card balance very quickly at all. In fact, it may just a servicing level that will pay the interest but make no progress at all towards the outstanding balance.

Once you have set a monthly repayment amount and are satisfied that it is high enough to repay the credit card balance in a reasonable time frame, what you should next need to do is stay strong and discipline your spending. This means refraining from using the card, and perhaps waiting until next month when you have cash to buy something you need or want. It is this discipline that will be the difference between clearing the debt and carrying it into the future. If you find it too difficult, consider leaving the card in a safe place at home or even cutting it.

Remember do not just keep to a minimum payment, this is a sure fire way to get further into debt. By paying an extra Ј10 each month your total credit card interest will drop substantially. Credit Card Companies set their minimum payment requirements too low, many at just 2%, and too many consumers fall into the trap of thinking minimum payments are adequate.

By taking heed of our advice you will soon find yourself clear of credit card debt.

Airline card - to own or not to own

Everyone's needs are different depending on their various lifestyles and living patterns. Therefore choosing an airline card from the various airline cards available will depend entirely on your personal circumstances and financial profile. Eventually, it's up to you as to how hard your airlines credit card will work for you. But by reading these simple tips, and asking these questions, you can definitely wedge out a few more benefits out of your airlines credit card.

What is an Airlines Credit Card?

On an airlines credit card, one can earn credits or points whenever one uses the airlines credit card. After a certain number of "points" have been accumulated from purchases made on the airlines credit card, cardholders can redeem points for airline travel, just the way one might utilize frequent flyer miles. Be sure to know how many points you need to accumulate on your airlines credit card so as to qualify for free air travel. It's also vital to know when these points will expire if not put to use within a certain amount of time. Since most of the top airlines credit card reward programs are quite expensive for credit card companies, any airlines credit card will usually come with an annual fee and will also have higher corresponding interest rates than other credit cards.

How to Select the Best Airline Card for Yourself?

The first step in determining which airline card to select is to know which airline you frequent the most. If you have an airline preference for most of your trips, find out if the same airline has an airline card.

Another thing to analyze would be the frequency of your flying. If you fly once every few years or so, you are least likely to benefit from an airline card. If, however, you fly often, you might want to consider owning an airline card. However, there is a catch involved in this as well. Many airline cards place restrictions on the number of points that can be earned in a year. So, if you are not able to avail the benefit of redeeming these points in the year, owning an airline card would be futile.

As we've already mentioned, most airlines credit card offers will have annual fees attached in addition to having higher corresponding interest rates than non-airline traditional credit cards, so watch out for that as well.