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Quote of the Day

"Many politicians are in the habit of laying it down as a self-evident proposition that no people ought to be free till they are fit to use their freedom. The maxim is worthy of the fool in the old story who resolved not to go into the water till he had learned to swim."

Thomas B. Macaulay



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Featured Credit Cards Articles

An Introduction To Accepting Credit Cards On The Internet
If you have a website and you don't accept credit cards then you're losing massive amounts of business. Even if you do accept credit cards it may be worth considering an alternative that will either offer you better rates or save you time. Infact, if ...
Finding the Best Cheap Credit Cards
Want to find cheap credit cards? Your best source for information on cheap credit cards is a Web site that not only lets you view the offerings of a variety of credit card companies but also gives you reviews of the various cards by cheap credit card ...
Low Interest Credit Cards Have Many Advantages
When credit cards are used wisely they can be very beneficial to the consumer. A low interest credit card can be exceptionally beneficial. Many people use the same credit card that they have had for years. Some people still have the very first credit card ...



Do We Underestimate What We Spend On Credit Cards?
 
An investigation organized by Egg says consumers have greatly underestimated the amount that credit cards are used throughout the United Kingdom, what this means is consumers are spending a lot more than they think. The investigation revealed that when consumers thought they had spent was £236billion was in fact £437 billion, some difference!
How come there is such a big difference?
Well most of us usually pay for everything with the plastic card and find it hard to keep track of what we spend.
Most people have more than one credit card and a lot of them transfer their balances from time to time to get the best interest rate, so when you are working with two or more credit cards it's easy to miscalculate how much you're spending, and with so many different payment options for you to choose from you can see how there can be such a difference in what we spend, over £200billion! scary or what?
Another question you have to ask is, if we do not know what is in our accounts how do we know we are not getting ripped off?
Six out of ten consumers didn't know how much was in their accounts so money could be taken out and they would have no idea. Mind you some would say (not me you understand) if you don't keep track of your money you deserve to have it pinched.
The British Bankers Association revealed that by the end of September, credit cards sales had fallen for the last two months indicating that consumers are being careful, but with Christmas around the corner I am sure the credit card sales will be up and we will have another bumper spending spree with the plastic cards.
So the question was, are we underestimating what we are spending? well the facts definitely say yes!
So what should we do about it well keep a tighter grip on your accounts, double check what's coming in and out and make sure everything balances at the end of the month.
good luck!
Peter Kenny has been writing financial articles for the last five years and offers great advice on credit cards and loans more information can be found at http://www.creditcards-gb.co.uk
Some important contacts:
http://www.bba.org.uk http://www.cccs.co.uk
About the Author
Peter Kenny has been writing financial articles for the last five years and offers great advice on credit cards and loans more information can be found at http://www.creditcards-gb.co.uk



Credit Cards News


The Balance Transfers Blog (blog)
New credit cards may ease travel
Chicago Tribune
The three newest consumer credit cards — two from Bank of America, one from JPMorgan Chase — reflect consumer exasperation with some of the current card "features" that may not look so good to savvy travelers. All three have some advantages that many ...
Credit card balance transfers can help you tackle debt, but be disciplinedHamilton Spectator
Credit Cards with Rewards ExplainedMK News
Credit card balance transferasap News
The Balance Transfers Blog (blog) -San Jose Mercury News -Voxy
all 16 news articles »

Forbes
This Week in Credit Card News
Forbes
On average, borrowers had $4962 in credit card debt in the January-to-March period. That's down 4.7 percent from the previous quarter, but card balances grew 6.1 percent versus the first quarter last year. The number of new credit cards issued to ...
Holly McCall, Stay-at-Home Mom, Challenges Credit Card Rules, But Questions ...Huffington Post
Stay-at-home moms unqualified for credit cards because of 2009 lawDaily Caller
New Credit Card Rules – a Step Back in Time For Women?Patch.com
Phys.Org -WHAS 11.com (subscription)
all 11 news articles »

Your credit card could lower vacation costs
Tucson Citizen
Pour yourself a cup of strong coffee and read your credit card agreement. While most cardholders are aware of their card's airline miles and cash-back rewards, many are unaware that their credit card offers lots of other money-saving perks.


Discover CFO: Interested In Private-Label Card Business
Wall Street Journal
By Andrew R. Johnson Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--Discover Financial Services (DFS) is interested in getting into the private-label credit-card business, Chief Financial Officer Mark Graf said, noting the lender "took a look" at HSBC ...

and more »

Moody's: US Credit Card Charge-Offs Rose In April
Wall Street Journal
The charge-off rate for US credit cards rose in April, mostly caused by a significant increase in charge-offs from the Citibank trust, Moody's Investors Service said. Charge-offs, or loans that lenders don't expect they will be able to collect, ...