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Credit Cards Are Like Loans
Credit cards! If you're like most people, you probably love them some times and hate them other times. They can be a great way to manage your finances and they can be a terrible bill to get every month.
But credit cards aren't all bad. If we could live our lives without them, we would. But we can't. The world is simply not built that way anymore. More and more often, companies require credit cards as the best way to receive payment or security, rather than cash or checks.
But a credit card is just a loan. Few people realize it as such, but that's all it is: Simply a loan that you can use if you want, but you don't always use. A credit card is like a constant line of credit that is represented by the piece of plastic you carry in your wallet or purse. It says to the shop owner that someone has checked you out and deemed you worthy to receive a certain amount of credit line in order purchase the product offered for sale.
Used wisely, a credit card is an excellent financial tool. The first advantage a credit card offers is the ability to manage your finances. This means that you can buy things you want or need and defer payment until you choose.
If you have a credit card that provides you with reward points or rebates or discount opportunities, an advantage that credit card offers is to help you leverage your current purchases by building up points or generating discounts on the money you spend.
The third advantage a credit card can offer you is the additional layer of purchase protection. Some credit cards come with an extra insurance package so that purchases you make it any retailer are also covered by the credit card.
The fourth advantage a credit card can offer you depends on the credit card you get. Some credit cards offer travel insurance, car rental insurance, and even concierge services for a small fee. Depending on how busy your life is, or how often you travel or rent a car, having these advantages built into your credit card may be a wise financial decision for you.
A credit card is just an ongoing loan to you represented by a piece of plastic. But used wisely, this loan can offer you much more than other types of loans. Credit cards are not always bad. Consider whether you should add a couple to your financial portfolio.
About The Author
Mark Lambie is the founder of http://www.loan-source.co.uk a website providing free secured loan quotes. Apply today to find out how much we can save you.
More Useful Resource and Updates on applying for business credit cards
- Casino Employee Arrested For Misusing Company Credit Card (WAPT Jackson)
A casino employee was arrested for allegedly using a company credit card to charge nearly $4,000 in gasoline.
- Stolen credit card used for gift cards in Cheshire (Republican-American)
Police are searching for a man they believe used a stolen credit card to buy thousands of dollars worth of gift cards at Rite-Aid stores in several area towns.
- Lenders Lower Credit-Card Limits (WallStreet Journal via Yahoo! Finance)
It's not just your portfolio that may be shrinking during these turbulent times. The spending limit on your credit card may be heading south as well.
- Oswego credit card phone scam returns (The Beacon News)
A phone scam which was first identified in Oswego in January has resurfaced in the community, Oswego police said. Police said customers of several local banks have received automated phone calls from bank security departments asking them to call (909) 885-3883 to activate their credit card.
- No bailout = higher credit card, mortgage rates (St. Louis Business Journal)
Without a $700 billion bailout of the financial market, everyone will experience a tightening of credit and an increase in mortgage and credit card rates, experts say.
- Will rescue failure hurt credit card purchases? (Greenwich Time)
The House's defeat of the government financial bailout plan and the country's ongoing financial crisis may soon mean your credit card won't work at the supermarket, department store or ATM.
- David Jones launches Amex credit card (The West Australian)
Luxury brands retailer David Jones Ltd Tuesday launched its David Jones American Express co-branded credit card and believes its loyal customer will embrace the initiative.
- Man guilty of ID theft, credit card fraud (The Sacramento Bee)
A Sacramento man, Michael McCormick, 29, will be sentenced Dec. 12 after pleading guilty to running a scheme to steal identifications and commit credit card fraud.
- Thieves Raise Credit Card Bills With Stolen Checks (CBS4 Miami)
Talk about a shock; opening your credit card bill only to find somebody's been running up your account without your knowledge. It's all because many companies are sending convenience checks in the mail. Those checks are becoming inconvenient as they become a target for greedy robbers.
- Sector Snap: Credit card stocks sink (AP via Yahoo! Finance)
Shares of credit card companies fell with the broader markets Monday, as a Citi analyst reduced his earnings outlook for Discover Financial Services and American Express Co., saying credit card loss rates continue to worsen.
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