The credit report is extremely important, especially when it comes to credit cards. Banks and lenders use your credit report to determine if you meet their criteria for a credit card or a loan. Your credit report is the determining factor for your credit, which is why you should never let your credit cards do any type of damage to your report. To avoid this, simply pay your bill on time.

Most people will use their credit cards responsibly and won’t damage their credit report. Doing this will show lenders that you are responsible, and that they can trust you with loans and credit – which in turn will raise your credit score. Keep in mind however; if you have a lot of open accounts, it may tell lenders that you have a lot open and that you won’t be able to pay them back. Although this may count as good credit, lenders look at several open accounts as being potentially damaging to your credit report.

Although you may be tempted to have more than one credit card, it can actually be a downfall in the eyes of the lender. Most lenders will see this as you having a way to spend all of your limit, and will fear that you may do so. Even though you may not have this intention, credit card lenders will almost always fear the worst case scenario, and it eventually lead to you damaging your credit score – simply because a lender will turn you down for a future offer you apply for.

Something else you need to keep in mind is the fact that it can be really easy to miss a payment on your credit cards. Although this doesn’t sound bad, it can have a very negative look on your credit report. If you start missing payments or paying them late, the lender will eventually enter it in your credit report. This can have a negative impact, lowering your beacon score and eventually bringing down your overall credit rating.

If you play it safe and only get one or two credit cards and keep a track of how you use them, you won’t need to worry. Your credit report should always be a primary concern, and you should always do your best to ensure that it stays free of negative ratings. If you keep up things up to date – you’ll enjoy the benefit of a positive credit report.

You can find the best choice of credit cards and pre-paid cards at www.CreditCards.us (http://www.creditcards.us)

For many, getting cash back is far preferred over air miles, items, or any other reward. If you like to use your credit card often, then you’ll find that cash rebate credit cards will give you a lot of money in return.

Normally, these types of credit cards entail higher fees and APR. You don’t want to carry a high balance on these cards at any time, as it normally ends up very costly. If you can off your balance at the end of the month, then your APR won’t affect you. Paying off your bill will also allow you to take full advantage of the cash rebate reward.

The percentage of cash back will vary, although most normally have 1%, with 5% being applied with certain purchases. For every purchase you make using your cash rebate credit card, you’ll get a small amount of cash back. Using your credit card on a frequent basis will give you a lot of cash back at the end of the year.

If you make big purchases, you can get a lot of cash back by using your credit card, although some may have a limit on just how much of a rebate you get back. If you plan to purchase large items such as furniture, you should check into your cash rebate credit card and find out what the rebate is on these types of purchases. The better rebate cards will normally send a lot of rebate cash your way just for purchasing some of the larger items.

Before you get a cash rebate credit card, you should always find out how much of a reward you will be getting with each purchase, and what the limit may be. Once you have reached the limit, some banks will either send you a check, deposit the reward into your bank account, or simply add the reward to your credit card. All three are wise options, although most prefer to have the money added to their bank account – so it can help draw some interest.

If you research the rebate card and find out what other features are included, you’ll normally come out a winner. Make sure you inquire about the credit limit, fees, and other things that you feel you should find out. Once you have researched and found out what you need to know – you can get a cash rebate credit card and begin living life knowing you will be getting cash back for just about anything you purchase.

You can find the best choice of credit cards and pre-paid cards at www.CreditCards.us (http://www.creditcards.us)

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Annual Fee versus No Fee Cards
One of the first things to consider is whether there is an annual fee applied to the card. It doesn’t make much sense to work toward a travel reward if the annual fee is more than the free or reduced travel. Some cards charge as much as $75 which would mean you have to charge $8,000 annually just to break even with your earned reward miles. If you find that a card with an annual fee will earn the best mile rewards, be sure you never carry a balance as the interest paid will also offset your rewards.

Annual Percentage Interest Rates
Interest rates are extremely important, if you typically carry a balance. In fact, it would be wise to consider whether using this type of card is in your best financial interest. However, if you are able to pay off your balance most months, than be sure to find the lowest APR available and be sure to take advantage of 0% introductory periods. It is essential to do a cost benefit analysis on the various available airline credit cards before selecting one.

Frequent Flyer Miles or Airline Miles Credit Cards
The big difference here is whether you’re interested in traveling with one specific airline or whether you’d like to shop around for the best rates for your destination. Be sure to examine all the fine print before deciding. Regardless of which type you choose, the points or miles earned typically equal one mile for each dollar spent with some offering double-point opportunities.

Airline Miles Reward cards are issued by most major credit card companies and banks and allow miles to be earned on all purchases made with the card. The biggest advantage is that you can redeem your points for travel on any airline.

Frequent Flyer Credit cards are issued by a specific airline. These cards allow you to earn frequent flyer miles to be used when traveling with their airline. To encourage you to participate, these cards often offer bonus miles just for opening up an account. It’s not unusual for the bonus to be 7,500 miles or more which can kick-start your efforts and help you earn that trip much sooner.

Earning Points
The percentage you can earn on your purchases is between 1% and 6% with an average of 3%. At the higher level it is usually an introductory offer which lowers over time. Most mile cards require a minimum of 25,000 points to get a ticket. A few offer a one-way ticket for as little as 14,000 points. Look for opportunities to earn double points and a particularly good value is the bonus that is often attached to introductory offers. Most cards have a cap on the number of points that can be accumulated so be sure you understand the fine print.

Additional Reward Offers
The rewards you can earn with your airline mile points are not as limited as they once were. Some programs offer other travel benefits to use your points. Look for cards that include discount hotel rooms and car rentals and seat upgrades as redemption rewards.

Student credit cards issued by Discover, Chase and Capital One are tailored for student applicants.  Some of the features offered by these credit card issuers include:

•           No Annual Fee

•           0% Interest for a fixed period of time

•           Cashback Bonuses

•           $0 Fraud Liability Guarantee

During this period of economic instability, uncertainty in the stock market, illiquidity in the credit markets and the softening real estate market, one thing remains constant – students should be given an opportunity to build a credit history.  Responsibility is key.  If you can’t afford to buy it, you should consider saving until you can.  Credit cards are most beneficial when you can afford to pay your balance in full every month.  In these tough economic times, where credit is getting more difficult to come by, it is important to create a strong credit profile by establishing credit early and maintaining a consistent payment history.  Student credit cards issued by Discover, Chase and Capital One are tailored for student applicants. 

Visit www.goodstudentcreditcard.com to apply online in a few short minutes.

http://www.collegecreditbuilder.com/student.htm

We use our credit card for all our prescription drugs and have a couple automatic payments set up to be charged on the card monthly. On occasion I use the card for groceries. Otherwise it is used for all online purchases.

Please – no lectures about credit cards. We only have one and pay it off monthly. There is no way I am paying that extra 20+%!
I don’t care about the interest rate of the card as it we paid are credit card balance in full monthly.