Credit cards offer safety, flexibility and convenience. They help you to buy what you need and want without carrying cash or checks. The majority of merchants around the globe accept credit card payments. Mobile and handheld credit card payment processing machines are more common in the past 2 decades. You don’t usually need to be in a store in order to pay with a credit card. All ecommerce websites accept credit cards and payment gateways such as Paypal, Stripe and others.
Paying with a credit card instead of cash creates a good record that allows you to save time by not having to write down transactions on paper or enter it into a spreadsheet. Fraud protection, discounts, extended warranties, and rewards programs are good reasons why credit cards are a good option for receiving perks. You can’t get those perks when you pay with cash.
What is the best credit card?
There are thousands of credit cards available in the US today. Some rank higher in benefits than others. Some are meant for first-timers or credit-building consumers. While others offer specialty features but very low interest rates and are best suited for people who tend to carry a balance from month to month. The way to determine the best credit card for you is to determine you financial goals, your income and your credit rating.
When to get a new credit card
There are many reasons to apply for a new credit card. Once again it depends on your financial goals. When you get ready to apply you’ll find thousands of offers from financial institutions like Capital One, Chase, Bank of America, Wells Fargo, Discover, American Express, Visa, Mastercard and so many others. The best thing to do is to find a website like Efinancequotes.com that can compare the various offers for your financial goals. If you were to spend the time filling out a credit card application form 100 times it may take you hundreds of hours and you probably still would not find the best option. When you come to Efinancequotes.com to compare credit cards we ask that you answer all the questions in the application form in order for us to determine the best product for your financial profile. Then we’ll present you with a handful of options that make sense for you. At that point you’re ready to talk to the credit card company to find out if you’ve been approved and if their card is the right fit for you.
When people are recovering from bad credit, a credit card can often be the first way to rebuild their credit. Secured cards are a great option for people that are new to the credit world or people trying to rebuild a tarnished credit report. As always take time to evaluate the terms and conditions carefully for interest rates and fees.
Credit Card Dispute Guide
In the event that your credit card statement contains erroneous information, you can dispute the charge with the credit card company.
Here are some of the most common credit card disputes;
1. Charges for an item you did not purchase
2. Received a double charge for a purchase
3. Refund was not processed
4. Did not receive the product I ordered
5. Returning damaged merchandise for credit
How to dispute a credit card charge
The absolute best way to resolve a disputed charge from a merchant is to contact the credit card company. Make sure you have written documentation of your conversations with the merchant and the credit card company with the date and time of the conversations and the names of the people you spoke with so you can speak intelligently about your situation as the process unfolds.
Once you’ve filed a dispute with the credit card company to investigate the disputed credit card charges you’ll have to wait patiently, which may take time. A few credit card companies will reverse the charges once the dispute is filed and then conduct an investigation. While others will not reserve until a full investigation has been completed.
How to Use a Credit Card
The truth is that when a credit card is used responsibly it helps to build a solid credit score that will really pay off when it comes time for you to qualify for loans like cars and mortgages. Here are a few tips about using credit cards that will keep you on the right track:
• Pay off the balance each month to avoid paying interest and fees as this will lead to building a good credit history.
• Use the benefits of owing a credit card at no cost .
• Commit to only using an amount each month that you can pay in full when the bill is due.
• Late fees, penalty APRs, and returned check fees are the bad part of credit card use.
• Credit Card companies report to the credit bureaus and the black marks on your report from late or missed payments make credit-building efforts pointless.
• Take full advantage of rewards programs and welcome bonuses.
• Read the fine print to understand the terms and conditions of your new card, you’ll be in a position to take full advantage of all of the perks of owing it.
Credit Card Fees
Take a look at the terms and conditions of a specific card to assess the credit card fees. The Fair Credit Billing Act requires full disclosure of all fees and you can check out the document before applying for any card.
Here are some common fees to look out for:
• Annual fees
• Foreign transaction fees
• Late payment fees
• Over-the-limit fees
• Balance transfer fees
• Cash advance fees
Credit card laws