Credit Card Advice and Offers

Posted by bradhughes on April 6th, 2013

A person’s credit score reflects his trustworthiness, which is why it can have a highly positive or negative impact on his life. It can provide him with a greater chance of being hired or it can diminish his buying power. Therefore, it is important to always receive sound credit card advice in order to know which credit card offers have a negative effect on a credit score.  

Owning a retail or department store card may seem a great offer, but it can have long lasting consequences on a person’s financial welfare because it may tempt the owner of the card to simply stop paying with cash for the purchased goods or to open numerous accounts that are difficult to handle. Moreover, the interest rate that is usually charged on department store cards is outrageously high (reaching up to 23% or more).  

Another useful credit card piece of advice is not to close out credit card accounts with a zero balance because the owners of the accounts would, then, be missing out on the improvement of credit score which is associated with a zero balance.  

Another issue to ponder on is the negative effect that in-store financing can have on an individual’s FICO score. Nowadays, people can buy household items by resorting to in-store financing. This may appear as a great credit card offer, but, in reality, this new type of purchase is looked down on by most reporting credit agencies, which is why, in most cases, it may have a negative impact on credit score.  

Other relevant credit card advice is concerned with the credit bureaus and the information (on the balance) that these bureaus receive – information which is not always complete. When looking at the best credit card offers available on the market, it is in any individual’s best interest to choose card issuing companies that provide all necessary information to the credit bureaus. In addition, owners of credit cards need to be educated on the issue of checking the credit report regularly so as to identify any potential problems which need to be dealt with in order to avoid being denied credit on account of system errors.

Although credit card advice is easy to follow, many fail to do that, which is why it is important to be aware of all possible options regarding the best credit card offers available on the market. Those that tend to disregard credit card advice should, at least, be careful about choosing a credit card because a good offer could compensate for the carelessness with which they use the card once they own it.  

When looking into the best credit card offers that issuing companies can provide, one must always consider the amount of interest charged as well as the hidden fees stipulated in the contract. For those interested in rewards programs, it is also important to search for the most profitable discounts at retail shops and fully paid for vacations abroad. However, the most critical aspect of all is the quality of customer support which involves efficient and rapid action taken in the following situations: lost or stolen card and identity theft.  

For more details, check out credit card advice and read more about the best credit card offers .