What is the best type of credit card rewards program?
It really depends on what you value more. We have found that a majority of consumers prefer cash back rewards programs. However, an equal amount of people have also flocked toward some of the points cards because of their current bonus structures.
What credit scores define excellent, good, and bad credit from a lender's perspective?
Though it may vary from issuer to issuer the general rule of thumb is that an excellent credit score is 725 or above, good is 650 and above and bad is below 600. In between 600 and 650 is considered fair.
What is the difference between a credit card and a charge card?
A credit card allows you to carry a balance over time. If you elect to carry a balance interest will be charged provided it is not during a 0% introductory period. With a charge card you are required to pay your balance in full at the end of every billing cycle.
Charge cards require you to pay your balance off in full every month. Why would anyone get one of these?
The most common use of charge cards is to take advantage of the rewards programs that they come with. People who carry charge cards are usually financially solvent, meaning that they only spend what they could normally pay for with cash but want to use an alternative for of payment so they don't have to carry cash for large purchases. Charge cards are a great deal as the rewards programs are very lucrative.
I need to transfer multiple balances to a new credit card with a 0% rate. How do I go about doing this?
When you find the 0% balance transfer offer that you would like to move your debt to and reach the application page via an apply button you will be prompted on the application to enter the balances and accounts that you want to transfer. If you want to perform this transaction online, make sure that you have your existing statements or account information handy.