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James Marshall - ArticlesSecured Credit Cards - Pros, Cons, and What to Watch Out forIn today's society, having a credit card is no longer a luxury, it's a necessity. You need a credit card in order to rent a car, book a hotel room, or in the most extreme cases, to rent a movie from the local video store. People without credit cards are locked out of the e-commerce revolution, since a credit card is needed to buy online. Most people can qualify for a traditional credit card, even if it is with a low credit limit and high interest rate. But what about the people who've made serious mistakes in the past? Are they doomed? Credit Reports - What's on Them, and How to Check YoursBusinesses in the United States buy more than two billion credit reports every year. Since there are currently fewer than 300 million people in the country, this means that the average adult has his or her credit reports examined by someone about once every other month. And yet, only a small percentage of Americans have ever laid eyes on their own credit reports. Viewing your credit reports at least twice a year is a necessity in today's electronic age, and while it may not always be free, getting access to your credit reports is much easier and less expensive than it has been at almost any time in history. Big Business Leads the Drive for Lower Credit Card FeesThere are a lot of mixed messages floating around about credit cards. We know that they're a vital part of building and improving credit, but it's hard to tell exactly what you're paying in monthly fees and late penalties. It seems so complicated! Fortunately, credit card companies are beginning to lift the veil of secrecy so that it's easier than ever to see exactly what you're paying and when. Credit MythsIn order to acquire and maintain access to credit, one must have a working understanding of how credit works - namely, how credit scores are established and tracked by the three major credit bureaus. This series has examined these topics in great detail, but in this edition, we will take things a step further by examining (and dispelling) some of the most pervasive credit myths. Get Interested in InterestHow much you know about interest? Unless you have a degree in finance, you probably don't know all that you need to know in order to be an informed, responsible credit card user. Now you don't need to be a finance expert to comprehend the basics covered in this article, but after reading it, you might feel like one the next time the subject comes up with your co-workers, friends, or family. Credit and your KidsA credit card is a great way to start building credit as a teen or young adult, and many young people receive their first credit card from their parents. Before you hand your teen a credit card as they head off to the mall, think about whether it's helping (or possibly hurting) their future credit. Credit Cards: the BasicsCredit card ownership can open up many doors, but many people have seen their lives ruined by making poor credit choices. In order to be an intelligent consumer, you must be an informed consumer. Stay tuned for more information on responsible credit usage, as this series of articles will navigate you through the basics of credit card ownership and into advanced strategies for getting the most out of your credit. The College Student and Credit HistoryFor many people, credit is a Catch-22: They can't get approved for credit because they don't have a credit history, but they can't build a credit history without first being approved for credit. Luckily for them, college students don't tend to have this problem. Credit card companies view them as low risk, at least compared to other young people with no credit, and so they're willing to give them a first chance. As a new cardholder, it's vitally important that you make good use of this first chance. Credit Cards - Can you Really Live Without Them?In 2007, having a credit card is no longer a luxury or even a convenience - it's a necessity. You can't rent a car, check into a motel, or order online without a credit card. If you want a cell phone, you'll probably have to purchase prepaid minutes - at a premium - unless you have some plastic with your name on it. And without a credit card, you either have to carry around a lot of cash, make frequent trips to the bank, or hope that the stores you patronize will accept your personal checks. Going Over the LimitCredit cards are wonderful tools, but they come with serious responsibilities. You should be using a credit card to your advantage - whether that means getting an interest-free loan every month by paying your balance off in full, or just the simple security and satisfaction that having extra buying power at your fingertips can bring. But when you start paying $29 fees and higher interest, you are letting the powerful tool wield itself against you. Be a smart consumer, but also check the over-limit fees and practices of cards before you sign up for them. No one intends on exceeding their credit limit, but it does happen to most people, so be aware!
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