The Best Credit Cards Are Not Always Judged by Interest Rates

People are people. It’s human nature to always shop for the best possible deals. And is no different shopping for a credit card. Whether you’re starting out in the credit market or trying to re-establish your credit, it’s always a good idea to shop around for the best credit cards. While many people consider the interest rate on the card to be very important, it is not the only criteria for determining the best card available.

While shopping for the best credit card, the other factors that coming to play would also include length of any grace period, the minimum payment requirements, annual fees as well as interest rates are all factors that come into play when trying to make a decision on which credit card to apply for. The brand of the card is also a very important part of the decision process because most people would prefer a nationally branded card as opposed to a store branded card that is limited to specific retailers.

Card companies may offer short-term perks or benefits to induce individuals to apply for their cards, such as deferred payments or no interest on purchases made within a certain time frame and paid off within a set period. However, the best credit cards will not need to use these perks to seduce in new users. And many times once the invitational period or offer ends, the customer will close the account unless the lender can prove it is offering one of the best credit cards on the market.

Decisions Based On Non-Interest Items

Some people enjoy paying off their credit card balance within days of receiving the bill so the interest rate maybe a trade off for other factors. Some cards offer what is called a grace period for balances. Some will allow up to 25 days after the receipt of the bill to pay the balance off, thus no interest would be charged. Surprisingly, there are other cards out there that actually charge interest from the date of purchase. Needless to say, this is not considered to be the best credit card available.

It wasn’t that long ago when credit card companies charged everybody an annual fee just for the privilege of caring a card. That was considered an industry norm, but nowadays the card companies will waive the annual fees, especially to their best customers. The best credit cards would forgo the fees, especially for those customers who usually carried a balance on their account. Minimum payments may also very on cards, ranging from as little as 2 percent to a high equaling the current balance.

As usual, you should always read the fine print that accompanies every card, regardless of who claims to offer the best credit cards. There maybe stipulations included that can turn what, at first seems to be an offer for the best credit cards, into a real financial nightmare. A good example is the interest rate. It may start out low and then after a set time, or some other trigger factors, can shoot the rate into the sky.

Kerry Ng is a successful Webmaster and publisher of The Credit Card Blog. Click here for more great helpful information about Credit Cards: []

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How to Start an Online Business Without Using Your Credit Card

Sometimes when people try to make money online at first they are not working with a lot of cash. In this article we will talk about how to start an online business and do it without spending any money.

1. Determine a niche you would like to start your online business in. Try to pick something that interests you if such as cooking, fishing, antique cars, etc.

You are going to get a rare chance in your life to start a business on the Internet and do it based around a theme you have an interest in or a passion for.

2. Go to and set up your own blog. This is not hard to do and doesn’t require any technical knowledge.

You can come back and add to your blog at a later time. Primarily you should make sure and join the Google AdSense affiliate program so you can add Google ads on your blog.

3. Go to ClickBank and join their affiliate program. Once you have your affiliate ID number set up go to the ClickBank marketplace and look at digital ebooks you could sell.

You can create your own unique URL for each product. Some of them provide graphics you can paste on your blog. Others provide text link ads you can place in the body of your blog articles.

4. Write your first blog article. Don’t worry about writing a masterpiece at this point.

All you are really doing is announcing to the world that you’ve started a blog about whatever niche you are in. Your first article can be around 200 words in length and should contain basic things such as an introduction, body, and closing paragraph.

5. Go back to Google and study their tutorials on how to enhance your blog and market it online. Ultimately you are trying to drive visitors to your blog and earn money when they purchase a ClickBank product or click on a Google ad.

6. Join Twitter and Facebook. These two social networking sites can be a good source of making contacts online as well as getting additional traffic to your blog.

If all of these this seems intimidating it doesn’t need to be. What we’ve just done is shown you how to start an online business without using your credit card. So far everything you have done is free and takes nothing but a little bit of time to get started.

Cynthia Minnaar invites you to earn money online with legitimate online business ideas she will share with you. Her website will demonstrate a proven online business start-up idea that can work for you.

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Retire Your Credit Card Debt With a Peer-To-Peer Loan

When Michelle Watson compared her auto loan interest rate along with the interest rates on her two credit cards with those offered by a leading peer-to-peer, or P2P, lending site, her jaw dropped as she realized she had been throwing her money away on exorbitant interest rates for years. Needless to say, she realized using the peer-to-peer lending service was a no-brainer.

“All of the interest rates I had been paying were much higher than the Lending Club rates. With one monthly payment instead of three, my repayments were simplified as well,” she said on her blog, hoping to help others who are also struggling with credit card debt that never seems to go away.

As the owner of a blog that highlights her journey of becoming a debt-free single mother, Michelle is quite particular about the financial products and services she recommends to her readers. However, she is more than animated in her support of P2P lending.

In fact, after her loan was funded in only two days and paid off in eight months, Michelle decided to become a peer-to-peer investor herself. In the past year, she has helped fund nearly 50 notes, enjoying a net annualized return of approximately 10 percent.

Basics of Peer-to-Peer Lending

Michelle is part of a growing number of individuals who are saying goodbye to credit cards and turning their backs on the banks, instead choosing to turn to individual investors for the funds they need to consolidate their high-interest credit card debt, take a much-needed vacation, or achieve their dreams of starting their own business.

What began as a sideshow in 2006 has evolved into a full-fledged industry that provides obvious benefits for both investors and borrowers. At the moment, the two largest names in the peer-to-peer lending space are Lending Club and Prosper, which have nearly $2 billion in funding under their collective belts.

The premise behind P2P lending is rather simple. Borrowers simply fill out an online application detailing the desired amount and the reason for the loan. Then, investors review the applications and decide to lend money to applicants they deem worthwhile. Often, even people with a less than stellar credit score can receive funding simply by providing a compelling story.

As the funding facilitators, lending sites run a credit check on each potential borrower and assign them a risk level. Depending on a person’s risk level, he or she can receive an interest rate as low as 6.78 percent. Typically, loans are funded by numerous investors who pitch in amounts of $25 or more.

Due to the popularity of these lending sites, there are thousands of investors, allowing loans to be fully funded in as little as two or three days. Once a loan is funded, the loan amount is distributed by the peer-to-peer lending site, and the site also collects the monthly fixed-rate loan payments.

Peer-to-Peer Lending for Paying Off Credit Cards

Although peer-to-peer loans can be used for a variety of purposes, paying off credit cards and debt consolidation are the most popular borrower requests. People have grown sick and tired of paying astronomical credit card interest rates and are turning to P2P lending sites, such as Lending Club and Prosper, in growing numbers to receive low-interest personal loans in order to pay off their credit card debts.

These sites allow borrowers to advertise their funding needs to thousands of potential investors. However, paying off credit card debt is the leading reason why an overwhelming number of people use these helpful sites. In fact, over 60 percent of Prosper loans and 80 percent of Lending Club loans go towards paying off credit cards.

If you have high-interest credit card debt, you may be able to secure a personal loan with a 6 to 10 percent interest rate, allowing you to pay off your debt much sooner or save the difference. With peer-to-peer lending, you’ll also be paying back fellow humans over a short three or five-year period, instead of continuing to make endless payments to a shameless and nameless company that could care less about your personal financial situation. According to Lending Club, nearly 80 percent of borrowers choose to use their funds for these purposes.

In the end, peer-to-peer lending is the best option for debt consolidation. It makes financial sense to consolidate high-interest debt for lower rates and bolster your credit score, instead of hurting it through the use of a debt consolidation company.

Making the Decision to Secure a Peer-to-Peer Loan

Almost all financial experts and past borrowers agree that peer-to-peer lending poses the least amount of risk to borrowers. With peer-to-peer lending, you know the exact terms of the loan, and if approved, you receive the money right away and are able to spend it however you like.

The risk really lies with the lenders, who take the chance of not getting paid back. With hundreds of thousands of investors now lending on these sites, it’s safe to assume that the default rate is staggering low, meaning borrowers are happy with the loan terms and able to repay their loans.

Despite having limited risk, you should still do your due diligence by comparing lending sites, since each site has different loan terms, qualification requirements, and interest rates. For example, Prosper provides loans from $2,000 to $25,000 with one, three, or five-year repayment periods. Lending Club, on the other hand, allows people to borrow up to $35,000 and offers three or five-year repayment periods.

While peer-to-peer lenders have less stringent borrowing requirements than banks and other lending institutions, they are still selective about whom they choose to give money to. It helps to have a good credit score of 700 or above and a solid income-to-debt ratio.

The key to using peer-to-peer lending to finally get rid of your debt burden is to avoid using your credit cards and racking up balances again. It’s wise to keep a card for emergencies, but avoid using it to make frivolous purchases. If you avoid using your credit cards again and regularly make your peer-to-peer loan payments, your debt burden can finally be lifted in no time at all.

Many people today, including the author, are in search of a reasonable solution to retiring high-interest credit card debt. Peer-to-peer loans are a viable solution to this problem. Readers interested in learning more about P2P lending and how it can help resolve the complicated issues surrounding credit card debt can read here about the benefits of Peer-to-Peer personal loans.

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Learning the Ropes of an Interest Free Credit Card

Credit cards are among some of the most helpful and convenient methods of payment used today. They allow people to purchase or pay for items and services that they might normally not be able to pay in cash or in full, upfront. More often than that, these cards provide the opportunity to spread out payments into several installments, and sometimes these may even be interest free.

Every card holder must know that interest is the way credit providers earn, so there can be no such thing as an interest free credit card. However, you may be able to avoid paying for interest if you play your cards right. These cards are the fastest and easiest way to borrow money, but if finances are not handled correctly, it could spell big trouble. There are plenty of card offers in the market from 0% interest over a period of time, to the fixed rate credit card, and making the right choices and moves can help save you a couple of interest payments.

Some people can benefit greatly from getting cards that offer 0% introductory deal for a certain period of time, so if you see that you can most likely pay off everything within a year or so, these types of offers may work for you. The longest interest free credit card offer is 0% for 12 months, while some cards will offer 10 months. When using a zero interest credit card, it is important to note that your debt must be fully paid by the end of your introductory period, or else rates skyrocket, leaving your interest free periods almost meaningless. There is such a thing called tarting, where borrowers shift their balances from one card to another as soon as their interest free credit card runs out, in order to avail of yet another 0% interest offer. However, this usually requires that you have a good credit rating in order to be approved to different cards.

Another main feature of a zero interest card is the balance transfer option. Most card companies will offer balance transfers at 0% interest but it is important to note, however, that most interest free card offers such as these will only run for a few months.

On the other hand, some borrowers prefer to use fixed rate credit cards, or those that offers low long term rates. These cards are not used for the introductory rates, but rather for a longer term deal. These cards, however, are not always really fixed rate, and most cards can change their rates in as short as 15 days written notice.

Whether you’re using a zero interest or fixed rate credit card, the important thing when trying to maximize your savings and minimize credit expenses is to comply with your card company’s rules. Avoid penalties at all costs, especially on your interest free credit card or cards, by paying on time or else, that might be the end of you. Pay at least the minimum amount due and if possible, maybe even more. Setting up auto debits is also a good idea so as not to miss any payments. Always keep a close watch on your spending and stay within your credit limit.

To get help on your finances and bring it back on track, check out now our interest free credit card blog to learn more about ways for you to get the most out of your credits and discover the zero interest and fixed rate credit cards on offer right now.

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How To Find The Best Credit Card Deals For You

If you’re looking for a new credit card, then I’m sure you already know that there’s a lot of choice out there. Every credit card company seems to have a different and enticing offer, and it can be very difficult to work out what will be the best credit card for you.

So I’m going to give you a few pointers that will hopefully guide you into finding the best credit card for your needs.

Let’s get started:

My first tip for you, is to analyze the credit card APR very carefully. Many credit card companies offer very enticing 0 APR deals, but be sure to read the small print. The APR may be great for the introductory period, but it can take a steep incline as soon as that period is over. If you’re not going to be able to remove all the debt on the card by that time, then it may be wise to avoid this card.

My next tip: If you’re online (and you wouldn’t be reading this if you aren’t) then you have a wealth of information at your fingertips. It’s very wise to use this power to do some comparison shopping. Don’t settle on a credit card straight away. Make sure you compare it to the other deals out there. Also, remember to read the small print before applying for a card. You don’t want any nasty surprises further on down the line.

Decide what type of reward is most valuable to you. For some people, travel reward cards have the best reward, because they like to travel and get free air miles. Whereas for others it may be better to get a cash back deal. Decide on what you would like FIRST, and then look for the card. Don’t let clever marketing lure you into something that looks good, but isn’t really suited to your needs.

Sometimes a 0 APR card isn’t the best deal. Make sure you find out the interest rate for after the introductory period is over. Work out if it is actually cheaper in the long run (unless you plan on playing the 0 APR card switching game). Sometimes it makes better sense to get a low interest card, rather than one that is 0 APR but with a sharp increase once the term is over.

I hope you will find these simple tips helpful when it comes to finding the right card for you. It can be confusing with all the different deals out there, but with some careful research and understanding of what you really want, you should be able to find the best credit card for your situation.

Mark Barclay is owner of the Credit Card Blog [], where you can find free advice and comparisons about all the different credit card deals, even bad credit credit card [] deals. For more useful advice and comparisons, be sure to visit the Mark’s blog right now.

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