Winning your war on plastic
How many credit cards do you have in your wallet? And — perhaps a better question — are you taking advantage of them or are they taking advantage of you?
SBI Credit Card.com would like to see more and more consumers learning to take full advantage of all the perks that credit card companies are offering its users these days. It’s only right that if you, as a consumer, are giving them thousands of dollars of business, you should be getting something back too. Credit cards are a great tool for consumers. They offer the convenience and security that is necessary in today’s hectic lifestyles. They are also here to stay and so all consumers need to learn how to best benefit from using them in their daily lives. Read more
Congress Takes Aim At Pricey Colleges
It’s estimated that 17 million students will arrive at college campuses across the nation this fall. Many will be the target of credit card marketing campaigns designed to get them to sign up for credit cards endorsed by their college, and many students will take lenders up on their offers.
As the saying goes, little kids=little problems, big kids=big problems! As college time approaches, we try to instill as much wisdom and knowledge we can in them, so as to ensure that they will make the best possible decisions for themselves, when we are not there to guide them. It is obvious that we must talk to them and warn them about being responsible when it comes to things like drugs, alcohol, sex, etc., but there is also a topic that not all parents discuss with their children before they send them off to college life. Read more
Credit card gripes flood Fed
Consumers are filing a record number of comments — mostly complaints — about credit cards with the Federal Reserve, adding momentum to efforts to reform the industry.
SBI Credit Card.com advises all consumers to get their voice heard if they have anything on their minds when it comes to the dealings of the credit card industry. You have until Aug. 4 to weigh in. Already the Fed has heard from a record number of people, the most ever concerning a credit card proposal. Read more
Take the ‘GMA’ Credit Card Challenge
Americans are addicted to their plastic. Credit cards — those bright, shiny cards with 16 magic numbers that make all your purchases come true — are fast and easy to use.
SBI Credit Card.com – This sounds like a great challenge for all of us who need to get a handle on our credit card spending habits. Credit cards can be just fantastic tools if used in the proper, responsible manner. They are convenient, allowing us to purchase items without having to go to the bank every time. It also gives us a sense of security in that we don’t need to carry wads of cash when we go shopping. It’s a lot easier to keep one credit card secure than many dollar bills. In addition, if lost, credit card can be cancelled without losing any money, if you take timely action. Cash on the other hand, is lost forever. With competition in the credit card industry growing, many cards offer rewards that are just incredible and hard to pass up. Read more
Credit Cards: The Next Financial Crisis?
With banks limiting home equity lines, gas and food bills on the rise, and homeowners struggling to make their mortgage payments, some Americans are turning to credit cards to make ends meet. Many, however, are finding their cards more expensive to use as credit card companies increasingly raise interest rates, lower credit limits and cancel inactive accounts.
SBI Credit Card advises that the best way for consumers to stay out of credit card turmoil is to stop living beyond their means. Gone are the days when you can whip out your handy credit card when you spot something you really want and worry about paying for it when the bill comes. With the uncertainty in the economy and jobs being lost left and right everyday, consumers must really be sure to have the money in the bank before they decide to use their credit card for any purchase. If you make purchases thinking that the situation may change in a month or two and you’ll be able to come up with the cash, think again! If your financial situation does not turn around by the time the monthly bill arrives, you will be looking at paying who knows how much in interest and for how long. If you already have debt on your plate, compounding it, will land you in a bigger hole. Read more
Why you should keep track of your credit card limit
A Texas woman says her credit card company allowed her to go way over her limit. She racked up fees and is now deep in debt.
SBI Credit Card advises its readers that as with anything you sign, always read the FINE PRINT! Credit card companies are not obliged to let you know once you have reached your limit or are going over it. If it does happen, you may not know it until you get the monthly statement and have a hefty fee included in it. Read more
Credit Cards Can Cut Off After $75
Record high gas prices are frustrating enough, but now drivers are facing a new problem at the pump: people who pay with plastic are discovering some pumps just shut off when they hit a certain dollar amount. With gas prices approaching $4 a gallon, more drivers are hitting that limit and not getting a full tank.
SBI Credit Card.com sympathises with merchants and consumers at this time of economic turmoil throughout the United States. Everyone wants to protect themselves from getting “ripped off” in any way and it’s really getting rough out there. With Visa and MasterCard only covering upto $75 of a gas purchase, gas station owners don’t want to be left responsible for anything over that, in case the credit card ends up being stolen or customer has insufficient funds. As a result, customers are seeing more and more gas retailers shutting off the pump after that $75 limit is reached. Read more
Decision at the pump: Cash vs. credit
(CNN) – Gas stations across the country are increasingly offering discounts for fuel purchases made with cash as high oil prices eat into their profits.
With the cost of living going up throughout the United States, consumers and merchants are trying to find any clever way of saving as they can. Americans are forced to save each and every penny they can and that is especially true at the gas pump. As more and more people try to cut down on driving, gas station owners are seeing their profits dwindle. Read more
Credit Card Overhauls Seem Likely
Consumer advocates say regulation of the credit card industry has long been without teeth. But as card holders struggle under the weight of big balances, high interest rates and fees, their pleas to lawmakers for help may well mean that the industry will face some significant regulation by early next year.
SBI Credit Card.com advises its readers that it seems legislators may get the ball rolling very soon with a complete overhaul of the credit card industry, which has been long overdue. As per the proposed regulations, the Federal Government would take firm control of the credit card industry’s policies and procedures underwhich they have been operating. Read more
What Makes Rewards Cards UNREWARDING?
These days every consumer seems to want a credit card that offers some type of rewards program. Whether it is incentives like cash back, gas rebates, gift cards, or any other reward for using a credit card, consumers want to get the most out of their spending, and credit card companies are going out of their way to come up with newer and better ideas to entice consumers to use their particular credit cards. Which credit card is right for you depends on where you do most of your spending and what type of rewards you would find useful and enjoy. If you travel a lot, you will want a card that offers travel rewards and if you enjoy eating out, you may want a credit card that gives back rewards in the form of gift cards to your favorite restaurant. Read more
Are store cards as good as credit cards?
Of course there are some benefits with these cards, such as discounts at certain retailers or on certain products and a range of other perks. However, you need to ask yourself whether these limited benefits are worth the lack of choice that you will have and the very high rate of interest that you will have to pay if you do not clear your balance in full each month.
SBI Credit Card advises that there are great benefits of store credit cards, depending on what you are looking for. If you shop at a particular retailer a lot, then obtaining their store’s credit card may be of great benefit for you. The store may give you an initial discount on your first purchase when you apply for the card and offer special discounts on an ongoing basis every time you use their credit card to make purchases. Read more
Gas stations protest credit card fees
In Irvine, Calif., recently, about 100 gas station owners rallied in protest of credit card fees they say cut into their profits, USA Today reported Tuesday.
SBI Credit Card.com applauds these gas station owners for taking things into their own hands and coming up with unique ways to protest what they view as unfair fees being charged by the credit card companies. With gas prices going up and up, consumers are trying to do all they can to cut down on their vehicles’ gas consumption and that means gas stations are seeing a dramatic dip in sales. Read more
Consumers get rare chance to try to effect changes in credit-card rules
SAN FRANCISCO (MarketWatch) — If you’ve ever complained about an unexpected interest-rate hike on your credit card, now’s your chance to have your gripe heard. But you don’t have much time.
The Federal Reserve is accepting comments through Aug. 4 on credit-card reform rules it proposed in May.
SBI Credit Card recommends each and every consumer make their voice be heard in this unprecedented move by the Federal Reserve. As the saying goes, “It’s time to put up or shut up”. There’s no sense in complaining to deaf ears. Now is the time every consumer can be heard. The Fed has proposed some real good changes in the way credit card companies will do business and many of these changes really benefit the consumer. Although the credit industry disagrees and has come up with some very valid reasons of their own, on the whole, the Fed has got some great improvements put together.
SBICreditCard.com recommends everyone voice their opinions. Just go to www.federalreserve.gov and post your comments.
Use Your Credit Card Rewards for a Downpayment on a Car
Many credit card companies have relationships with car makers, which means it’s only natural that credit card rewards programs would exist to help with the purchase of a car.
SBICreditCard.com – With credit card companies offering all kinds of rewards these days, this is just another great thing that consumers can take advantage of. Sometimes it’s very hard to save up the cash to buy a large ticket item, such as a car, but when you have points accumulated on your credit card of choice, it goes a long way in making that wish for that “something” you need or want come true. Read more
MasterCard spent $720,000 in first quarter lobbying on credit card regulations
Congress has stepped up its scrutiny of the fees MasterCard and its rival Visa Inc. charge retailers for processing credit and debit card transactions. Merchants complain that the fees are too high and are biting deeper as gasoline and other prices rise.
SBICreditCard.com – The credit card giant, MasterCard, is spending so much money trying to ensure that they don’t lose their share of the billions they make every year from merchants. What they and the others must realize is that the whole country is sinking in this bad economy. Read more
Fees, Fees, and more Fees…
It’s amazing how many different types of fees there are associated with using credit cards. Some are the obvious ones, but there are some that are hidden and sneak up on us and we have no option but to pay. Before signing up for any credit card, SBICreditCard.com recommends that you read the Terms and Conditions very carefully in order to avoid surprises when you are charged fees that you didn’t know existed. Here is a list of some of these fees that your credit card may or may not charge.
· Annual Fee – This is a fee charged just for having the card. You can find cards that don’t charge this.
· Balance Transfer Fee – This fee is charged when you transfer the balance from one card onto another.
· Set-up Fee – This is charged when you open a new credit card account. Read more
No Free Lunch For Credit Card Companies
Even in college, there’s no such thing as a free lunch, as University of Illinois at Chicago student Sydney Maier found out when she learned the free sandwich coupon she received on campus couldn’t be used unless she filled out a credit card application.
SBICreditCard.com – Credit card companies are big businesses who earn millions each year and they don’t do that by playing “nice and fair”. Then again, who does these days? SBICreditCard.com believes that college students need to act responsibly and make sound decisions on their own. Read more
Get travel bargains with major credit cards
You’ve got a major credit card, right? Did you know that card can unlock a number of bargains for your next trip?
SBICreditCard.com – The summer is a great time to take advantage of the numerous additional perks many credit card companies are offering. Everyone wants to travel at this time of the year and with prices on everything going up, it’s sometimes hard to come up with the extra cash to enjoy a few days of leisure. Read more
Earn MAXIMUM cash back rewards
SBICreditCard.com gives you ideas that will help you SAVE BIG. If you have a credit card that offers cash back rewards for every dollar you spend on it, there are some things you can do to maximize your rewards earnings. Here are a few tips that will help you earn more:
· Use the cash back credit card to pay your regular monthly bills such as phone bill, mortgage, electricity, cable, etc. These are expenses that you have to pay anyways, so you might as well make some money in the process. Read more
Why have more than one credit card?
With all the convenience and benefits of using credit cards these days, more and more consumers are choosing to have not only one credit card, but two or more. They are finding that there are various advantages in having multiple credit cards. Here are just a few ways that consumers are benefiting from using more than one card.
· Separate Household and Business Expenses: By using a different credit card for family/household expenses and another one for your business expenses, you can closely monitor where your money is going and make changes in your spending habits if need be. Read more
