Tuesday, November 13, 2007

Searching for the best Credit Card for you

There is much controversy on the usage of Credit Cards. Is it good for us or is it bad for us? Some say it ruined them forcing them into bankruptcy. Yes, that could happen but again, it's all about research and responsibility. We all get emails urging us to get a credit card. There are credit cards that your eligible for even when you have bad credit. (never mind the fact that you may have bad credit because of having credit cards in the first place.) Having a credit card or credit cards is not a bad thing. It's how you use them and reading the fine print!! Getting a credit card is a heady experience. Your overwhelmed with the power to purchase without paying. Ahh but you WILL pay and dearly if your not careful. Don't assume that everytime you purchase something with your credit card that you have months and months to pay it off because then you will keep purchasing until you are maxed out and then you have years and years of paying off your credit card and possibly the finance charges too. That card becomes unusable so you get another one and another one and before you know it, your deep in debt.

Credit cards should be used carefully. Save it for certain occasions like holiday shopping, vacations or emergencies and then never go beyond a limit that you can pay back outright or within a few months time.

Credit cards can help you build credit if used properly and with restraint. Buying things you truly need. You can splurge on something you want but just don't wind up splurging ALL the time. Credit is not free money. Somewhere down the line you will pay for what you get. You don't always have to use them just because you have them.

Research the credit card offers carefully, READ the fine print and do not be afraid to ask questions from the credit card companies that you sign up for.

Again, I did alot of research and one of the companies I stumbled upon was liteloan.com. It is an attractive site with a lot of information about credit cards and has hundreds of credit card offers to choose from. It has the 3 major credit reporting agencies to request your credit report from and you can sign up for a monthly newsletter keeping up with all the current credit issues we are faced with today. Check it out for yourself and let me know what you think.

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