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Tuesday, June 27, 2006

What to Look out for When Obtaining a Credit Card



A lot of people already own a personal credit card, but more and more people still want another credit card in their �collection�. Their reasons may definitely vary, may it be for sheer vanity, or just something that can be used for emergencies or for their everyday needs, but one thing�s for certain - there�s always a growing demand for credit cards. This causes the credit cards to become more and more competitive with each other as they battle it out in order to get the client�s favor. This will actually prove to be more beneficial for you as credit card companies are getting keener on getting on your good side. It is a possibility that they�ll start offering more and more favorable terms for you. However, don�t always fall for their seemingly easy and simple terms. One must always remember to read the fine print first when it comes to dealing with things like this.

Some guidelines on what to look out for when obtaining a credit card:

* Make sure that you understand credit card terminology, at least the ones that are most commonly used so that you won�t end up getting duped by the highfalutin and easily confusing words that are often being used when it comes to credit card clauses and statements. Never ever sign anything that you don�t fully understand as well as something that has just been explained to you by the credit card agent, always ask the advice of someone that you really trust � who, hopefully knows a whole lot about credit cards, before you sign the dotted line.

* Learn the art of transferring debts from high rates. Simply put, credit card companies are always bombarding people with so many offers about teaser rates, these rates are the incredibly low interest rates that you�ll be able to enjoy for a year, however, the catch is when that one year is over, here comes the actual high rates that you�ll soon have to start paying off again. So the way to not get stuck with incredibly high interest rates is to transfer your debt way ahead of your current credit card�s one year expiration to a new teaser card. If you do this you�ll keep on enjoying the incredibly low rates that credit card companies offer. The great thing about this is that you can do this year after year till you�ve actually paid off all your credit card debt.

* Be aware of special offers from credit card companies. Always, always read the fine print first. Yes, a free vacation is tempting, even a free iPod is already tempting enough for you to be able to sign on the dotted line. But, before committing yourself to possible financially crippling debt, you must first listen to your practical side, is having a free vacation really worth that high interest rate? Or would you just be better off saving for one instead? Think first and do not get easily lured in by special offers.

* Lastly, why don�t you try joining a credit union? In spite of being solely focused on the welfare of their member-owners, credit unions will probably prove to be very beneficial for you as you will be assured that they�d really make the effort to give you the most favorable rates possible on savings investment as well as very competitively priced and very, very low interest rates. Credit card unions are actually non-profit so you�re sure that they�re operating at a much lower cost as compared to most profit oriented organizations.

-->by: Stewart Smith

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Credit Card and Insurance



Credit card and insurance are two very important financial services in modern sociaty. In a world that is built on the basis of credit, credit cards is a part of daily life for most ordinary people. Insurance, on the other hand, is something to protect you from uncertainty which may happen unexpectedly to anybody. The idea of insuring the future is now accepted by more and more people. Insurance and credit cards go hand in hand in many ways.

Coverage for certain insurance policies are sometimes provided as benefit by credit cards issuers at no extra charge. For example, Chase i-card provides the following insurance coverage:

$500,000 Worldwide Automatic Travel Accident Insurance coverage

Purchase Protection - an insurance program that covers purchases against damage or theft for 90 days from purchase date

Auto insurance and travel insurance are usually such benefit for cardholders.

For an additional premium, insurance protection plans are also available for cardholders to protect an outstanding balance on the cards. Usually, the insurance policy will cover the following:

Critical Illnes Protection: For a primary or spousal cardholder under 65 years of age and were to be diagnosed with certain critical illnesses, such as Cancer, Heart Attack or Stroke, the insurance policy would pay in full the balance owing on the insured account up to a maximum.

Disablitily Protection: For primary cardholders under 65 years of age who become temporarily disabled as a direct result of an illness or accident, this insurance policy will make the minimum monthly payments with certain limitation.

Accidental Death Protection: For primary or spousal cardholders over 65 years of age and were to lose their life as a direct result of an accident, the full outstanding balance (to a maximum limitation) will be paid in full by the insurance plan.

Job Loss Protection: For a primary cardholder under 65 years of age and he or she becomes involuntarily unemployed, the insurance policy will cover the minimum monthly payments based on the balance to a certain limitation until the cardholder is working again, or until your balance is reduced to zero.

Dismemberment Protection: For a primary or spousal cardholder who were to lose the sight in both eyes or lose a limb as a direct result of an accident, the insurance policy will pay the outstanding balance up to a maximum.

Strike Protection: For a primary cardholder under 65 years of age who become unemployed due to a strike or lockout, the insurance policy will make the minimum monthly payments up to a limitation until the insured resume working or the balance is reduced to zero.

Loss of Life Protection: This insurance policy will pay the full balance on the credit card account to a certain maximum if the primary or spousal cardholder under 65 years of age lose their life.

Insurance for credit cards is a service that is getting hotter. However, usually this service is provided by the card issuer. The cardholder is notified normally by mail along with their monthly bill or at the time when they get the cards. There are growing concerns about fraud within unsolicited credit card insurance marketing activities. Some thieves use this as a way to steal your personal confidential information. As a rule of thumb, never give your confidential information over phone!

The above information is informational only. For accurate insurance policy, please contact your card issuers or local insurance agents before you take out any insurance policy.

If you are interested in Life Insurance, Auto Insurance, Health Insurance, Home Insurance, or other Specialty insurance, visit angelinsuredeal.com to get a free insurance quote.

ABOUT THE AUTHOR

Editor of http://www.angelinsuredeal.com

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