Getting Value at BBVA Compass Visa Signature Credit Card

Today, everything has become very accessible especially in terms of money matters because of the availability of credit cards. Almost everyone has credit cards that they can use every time they shop, pay bills or pay anything for that matter. People rely heavily on credit cards and those who are thinking of applying for a new one should carefully consider which card offers the best features. If there is one card that many people trust, it is the BBVA Compass Visa Signature credit card.

One reason for an individual to get this card is the fact that there is no annual fee for it. Owners will not have to worry about annual payments because it is free of charge. In terms of the annual percentage rate or the APR for all purchases, its introductory rate is 0% for the first six months and after that the APR will be from 9.24% to 13.24%. So for the first six months, the card holders will not be anxious with the interest especially if they shop till they drop and use their BBVA Compass Visa signature credit card. Also, the APR will be based on the owner’s credit worthiness and on the Prime rate in the market which is very fair to those who will be using the card. In terms of balance transfers, the APR for it is 0% to 3.99% for a year and based also in the worthiness of the credit.

Other advantages in using the BBVA Compass Visa Signature credit card include special discounts and savings. Holders of this credit card will receive discounts in traveling and other complimentary upgrades.

In terms of late payment and over the credit limit, a penalty of only up to $35 is only required. These are just some of the penalty fees that credit card holders will pay in the BBVA Compass Visa Signature credit card.

Eagle Bank VISA Credit Card: Striving for The Best

Today, Americans don’t exactly use money bills when they buy, purchase or pay for anything. What they use instead are credit cards which is so much more convenient. Many people find these cards effective and useful because they can simply swipe it anywhere they are since almost all establishments accept this mode of payment. Americans today can’t leave their homes without bringing their cards. They really make sure that they have their cards because these have become their money now.

One of the cards that is making great news today is the Eagle Bank Visa credit card. Eagle bank is also a trust company in Missouri that was chartered in the year 1911. They strive to provide the best services to their clients and future customers’ needs in terms of financial matters. They have a wide range and selection of services and products like checking accounts with high interest, credit cards, and many more.

Features of Eagle Bank Visa Credit Card

Since the bank allows online applications, those who are interested in getting a credit card can easily avail of one. The credit card also offers low interest rates which is perfect for those who choose to make staggered payments in their purchases. With Eagle Bank Visa credit card, shopping online is very convenient, easy, and fun. Some companies and brands will even give discounts for those who will be using the card to purchase the products they offer.

Another feature this card has to boast is fraud protection. Cardholders can feel safe swiping their cards or inputting their card numbers online. Also the card is verified and certified by VISA which only means that the credit card can be used anywhere. Those who are interested should then try and apply for the card today. The site they have has complete information with regards to how people can apply and how easy it is for individuals to get one.

How to Get a Credit Card with Bad Credit

The economy is still in the dumps and thousands of people are without a job. No income leads to the inability to pay bills, which leads to bad credit.

Once you are out of your situation it is wise to begin rebuilding your credit, but what is the best credit card to get if you have bad credit? Where do you start? and How do you apply for a credit card with bad credit?

Applying for a credit card when you have poor credit is actually no different than if you have great credit. Your options will be far less and fees may be higher, but the process itself is the same.

Is there a ‘best card’ to get for this situation? There are a lot of credit cards out there for people in this predicament. Especially as of late because the number of people that are applying for “Bad Credit Credit Cards’ has increased. Therefor there may not be one best card, but you do have options.

Many cards that are offered for poor credit individuals are secure credit cards (read here about the difference between secure and unsecured credit cards.) If you have been unsuccessful in applying for a traditional credit card a secure credit card may be right for you. More often than not you can get approved. Some secure credit card offers do not even require a credit pull.

So the next question is “Where to get a credit card with bad credit?”

Here are a couple of bad credit credit card offers you can start with.

The Orchard Bank card is the best place to start. This is a card with low fees created for individuals with poor credit. If you cannot get approved there see the Horizon Gold Card below.

The Horizon option is expensive, but offers no credit check and guaranteed to report to the major credit bureaus.

What is the Best Credit Card After Bankruptcy?

In today’s economy many people are faced with the difficult decision to declare bankruptcy (BK).  Many people have no other option and it was circumstances they could not control which forced them into the bankruptcy.

If you have been through bankruptcy because of job loss, medical bills or some other reason try to not let it get you down too much.  It is a difficult time, but there is a light at the end of the tunnel.  You can not only rebuild your finances, but you can flourish.

[See below for cards you may qualify for after your bk.]

Can I get a credit card after bankruptcy?

The short answer is yes.

The long answer is this.  Lenders and banks are always very hesitant to lend to a consumer with a bankruptcy on their record.  That consumer is considered high risk, and instead of taking that risk many companies will simply deny you.

You may ask “Then how do I get a credit card after bankruptcy?” or “What card can I get?”

There are credit cards that are made specifically for high risk situations.

Most credit cards are what is called unsecured debt. This means there is no collateral backing up the debt you acquire.  Even if you do not have $10,000 in the bank you can still rack up $10,000 of debt.  This is a typical credit card, right?

A secure credit card on the other hand does have collateral backing it up.  For example, if you deposited $300 the lender would give you a credit card with a $300 dollar limit on it.  You could use the card like any other credit card and when you close the card the deposit is used to pay off the remaining balance.  The remaining deposit money is returned to you.

A secure credit card dramatically reduces the risk to the lender and the best option after a BK is often a secure credit.

If you can qualify for an unsecure credit card, that is great as well.  The best CC to rebuild credit after a bankruptcy is whatever card you can get that reports to the bureaus.  Remember to keep these tips in mind though.

Things to keep in mind when applying for credit cards after bankruptcy

The majority of secure credit cards have fees associated with them.  Expect to pay some sort of fee to use a secure credit card.

Using a well-known financial institution is recommended.  There are a lot of people out there trying to take advantage of folks after bankruptcies.  They are easy targets because their options are limited.  Using a well-known financial institution will help you not get ripped off.  Remember the easiest card to get is not always the best.

Be sure the lender issuing you the card will report your activity to the credit bureaus.  Some companies do not report secure credit card information.  If they do not report your activity the card means nothing.

How long after my bankruptcy until I can get a Credit Card?

Many times you can get a card right after.  It is going to depend on what type of card you apply for and if the lender approves you.

Applying for a credit card after bankruptcy is easy.  Here is a great option you may qualify for.

Best Credit Card to Apply for After Bankruptcy

Help Build Your Credit with the Horizon Gold Card

Are you looking for a great way to start building your credit?

Do you need a credit card even though you have poor credit?

The Gold Card from Horizon is a simple and effective way of getting a credit card with bad credit or no credit at all.  They offer instant guaranteed approval so will qualify for this credit card.

The card has a $500 dollar limit and reports to all of the credit bureaus.

This card can help you build credit and help you reach a stronger financial state.  Look at these benefits.

Building solid credit is important for your financial future.  Without good credit you may be turned down when trying to purchase a car, a house or even something like a new bed.

See BankAims Top cards for building and rebuilding your credit.

If you have poor credit or no credit at all it can seem impossible to qualify for a credit card.  A card like this one will help you build credit to prove you are a good borrower and you will soon be able to qualify for better credit cards.

Find out how to choose the right credit card here.

Do not plan on using this credit card long term.  It is meant to be a card that will help you build credit so you can move on.  Be sure to make all your payments on time and do not let the balance of the card exceed 30% of the maximum amount you can borrow.  Following these to rules will help you build credit and not hurt your credit.

$100 Cash Back Bonus with Discover Card

Get $100 Cash Bonus with the Discover® More Card – $ 100 Cashback Bonus.

Pretty simple to qualify.  You simply need to make $500 in purchases within the first 3 months to qualify.

On top of that you can get 5% Cash Back in popular purchasing categories.  Check out when and which categories you can earn 5% cash back.

  • January – March earn 5% on travel purchases.
  • April – June earn 5% on home and fashion
  • July – September earn 5% on gas, hotels, movies and theme parks.
  • September only earn 5% on grocery and drug stores.
  • October – December earn 5% on restaurants and fashion.

Plus you can choose from a wide array of awesome credit card designs.
Click on any of the cards below to find your design.

Discover Credit Card Designs

Discover is one of the nations largest and most trusted credit card providers.  Here are a few more of the benefits on the More Card from Discover.

  • 0% intro APR on balance transfers for a 18 months, then the Regular APR
  • 0% intro APR on purchases for a full 12 months, then the Regular APR
  • Get $100 Cashback Bonus when you make $500 in purchases within 3 months
  • Get 5% Cashback Bonus in restaurants, department stores and clothing store purchases.
  • Up to 1% unlimited Cashback Bonus on all other purchases
  • No Annual Fee
  • Apply Now!

* See the online credit card application for details about terms and conditions. Reasonable efforts are made to maintain accurate information. However all credit card information is presented without warranty. When you click on the “Apply Here” button, you can review the credit card terms and conditions on the issuers website.

CitiBank Credit Card Increases Interest Rate to 29.99%!

Guess what I just got in the mail today? A letter from CitiBank (South Dakota) telling me about the changes to my credit card account terms. This is what it says:

Dear ***** ******

We are making changes to your account terms.

To continue to provide our customers with access to credit, we have had to adjust our pricing. The terms of your account will be changing. These changes include an increase in the variable APR for purchases to 29.99% and will take effect November 30, 2009. As always, you have the right to opt out and pay down your balance under your current terms. If you opt out, you may use your account under the current terms until the end of your curent membership year or the expiration date on your card, whichever is later. At that time, we will close your account.

If you accept these changes, we have designed a program where you can earn interest back each month that can help offset the increase in your purchase APR.

Earn interest back every month

Here’s how – make your payment on time every month.

Each month you do, you will receive a credit on your billing statement equal to 10% of your total interest charge on purchase balance. This can help offset the increase in your purchase APR. Start earning interest back in December and January, and you will see the full credit on your statement no later than February 2010 and monthly after that.

If in any month you do not pay on time, you may not be eligible to continue to participate in this program.

We reserve the right to change or end this program with 30 days’ prior written notice. Please see the back of this letter for further details.

I’m not going to bore you with the rest of the letter but here are my thoughts.

29.99%, holy crap! Do the credit card companies really expect people to accept these terms? I know that I will be paying down that credit card by the end of the year and never using it again. Its very important that you DO NOT close your credit cards, no matter how upset you may be. Building a good credit history takes time and, well, a history. So if you close your credit card, then you lose that history for however long you have been building it with that particular card.

It seems like the credit card providers have forgotten about customer service, keeping their customers happy, providing a quality product, but instead it seems like they only care about the future credit laws that are coming out as early as December 1st. It will be interesting to see how this plays out. I have 8 credit cards (only use 3 of them and have very little debt with them), but I do expect to get more of these letters. Hopefully there will still be a credit card provider out there who actually cares for their customers and not charging the he*l out of them.

That’s it for now!

How to Choose the Right Credit Card – Part 3

Click to read…

Part 1Uses of Credit Cards, Finding the best rates, Different Types of Rates.

Part 2Credit Card Fees, Credit Limits, Grace Periods

Interest Charges Calculations

Current account balance and the interest rate are the two primary factors typically used to determine the amount of your Interest Charges every month.

The balance may be calculated in 3 different ways.

  1. Calculated over 1 to 2 billing cycles.
  2. Calculated using the adjusted balance, average daily balance or the previous balance.
  3. Calculations may or may not include recent purchases within the current grace period.

Typically the lowest interest charges will accrue with the 1 cycle, with no recent purchases included is the calculation used.

Minimum Finance Charges

Most credit companies have minimum finance charges.  For example if you owe only $50, the calculated interest charge is $2, but the minimum charge is $5, you will pay $5.  The extra will be applied to the principle balance on the account.

Using The Cash Advance Feature

Some credit cards have a cash advance feature.  This allows you to pull cash out from the credit card, and your balance will increase in the amount of cash you withdraw. Cash advances can usually be accessed from ATM machines or the credit company will send you checks in which you use to get cash.

When using this feature there are a few things you need to know. Most credit card companies treat cash advances differently then regular purchases.  They may have different rates and fees.  Keep in mind these things when using a cash advance.

  • The Interest Rate is Usually Higher for Cash Advances.
  • There are usually fees associated with cash advances.
  • There are typically limits to the amount of cash you can withdraw.  A percentage of the balance or a fixed amount will determine the maximum cash advance you can receive.
  • Sometimes your monthly payments will apply first to standard purchases until they are paid off.  At that point payments will be applied to cash advance money.  Since the interest is usually higher on cash advances this means the credit company can collect more interest charges on the cash advance money.  This is why they do not pay that money off first.  Often times you can request to have extra payments applied to the cash advances.

Use the cash advance feature with caution. Read the terms of service regarding cash advances before you ever use the feature.  After fees and higher interest cash advances can be pretty expensive.

Standard, Secure and Premium Credit Cards

  • Standard Credit Cards – A standard credit card is what most people qualify for.  There are usually no extra special features, and do not typically have annual fees.  The high credit limit is usually not as high as the premium cards, but can be increased with good credit history.
  • Secure Credit Cards – Secure credit cards are normally for people with bad credit, no credit or people that are trying to rebuild their credit.  Secure credit cards require a security deposit, the amount of which will help determine the high credit limit.  The more the security deposit the higher the credit limit.
  • Premium Credit Cards – Premium credit cards often have annual fees, but come with all the bells and whistles.  They usually have warranties, protection, traveler bonuses and many more.  Usually the premium credit cards have the highest credit limits.

Credit Cards Special Features

Credit cards, especially the premium cards discussed above, can come with special features to benefit customers and entice borrowers to use the credit card more.  Although there are hundreds of different features out there, here are a few of the more common features you will see.

  • Air Miles – Credit cards often offer air miles for every dollar spent, which can be redeemed for airline tickets to fly around the world.  Usually for every $1 spent you receive 1 mile.  Some cards or certain usages of cards will give you 2 miles for every dollar spent.  For example a credit card from a specific airline will offer you double the miles if you purchase your airline ticket through them, using their card.
  • Rebates – Rebates are a popular feature.  You can receive money back for every purchase you make.
  • Warranties – Credit card warranties will help protect the purchases you make using the credit card.
  • Rental Car Benefits – Many credit companies will provide rental car insurance or special offers, like upgrades, if you use their card to rent the car.
  • Travel Insurance – Protect your travels with insurance from some credit cards.

There are some other credit card features that can be purchased. These features are usually insurance type deals that will help pay your bill if you become unemployed.

Many of these features either cost money or come with cards that have annual fees.  Be sure you will use the features, otherwise you will just be throwing your money away.

How To Choose the Right Credit Card – Part 1

Choosing the right credit card for your needs is important and will save you money in fees and interest.  Not all credit cards are the same.  They have different rates, fees, benefits, features, points, ratings, limits, cash features and the list goes on and on.

Use these tips to help you pick the right credit card.

1. Determine how you will use your Credit Card

Yes there are different ways to use a credit card. Here are a few of the more common ways to use a credit card and the benefits of each.

  • Purchasing an item and paying only the  minimum payment.  This usage of a credit card is typically discouraged. If you only pay the minimum payment, you will carry a balance from month to month and be charged an interest fee.  Even if you pay extra every month, but still carry a balance to the following month you will be charged interest on the balance.  If you anticipate this action on your credit card you will want a card with a low interest rate.
  • If you plan to use your credit card and pay the total balance off before the end of the month, rate will not be as big of a factor.  Look for a card with a longer grace period and one that has no annual fees.
  • If you plan to take cash advances on your credit card you will want to find a card with little or no cash advance fees.  Also keep in mind the interest rate on cash advances.  Often times money taken on a cash advance will accrue higher interest credit used for a standard purchase.
  • Collection of Miles and Reward Points is common use for credit cards.  Often times people combine this technique with paying off the total balance every month.  Selecting a few common purchases like grocieries and gasoline will help build points and miles quicker.  Remember miles or points credit cards typically have annual fees, and cash advances do not usually accrue miles.

2. Finding the Best Interest Rates

The interest rate on a credit card is stated as the APR or Annual Percentage Rate.  The interest rate will determine the interest accrued for cash advances, transfers and balances carried from month to month.

Credit cards can carry different rates for many different aspects of the borrowing process.  Here are some of the APRs you may encounter with a credit card.

  • Introductory Rates: Credit Cards will often times offer a lower rate for purchases made within the introductory period of the card.  The Introductory period lasts from the time you open the card until the introductory term expires per the contract.  Many times the introductory rate will be 0% or close to that in order to entice you to borrow or transfer money immediatley after opening the credit card.
  • Purchases, Cash Advance and Transfers: Credit cards may have different rates for common purchases, cash advances and transfers from other credit cards.  Most of the time the cash advance and balance transfers will have higher interest rates then standard purchases.
  • Balance Rates: Credit Cards may charge different interest rates depending on the balance of your credit card.  For example: If you have a balance of $1-$500 you may have a rate of 13%. And for a balance over $500 your rate may increase to 15%.
  • Penalty Rate: A penalty rate will typically occur when you have been late on a monthly payment.  Penalty rates are usually very high.  For example, your rate may be a 14%, but if you miss a payment or miss a few payments within a certain time frame your penalty rate of 28% may now apply.
  • Post Dated APR: You will see these usually as special offers.  A credit company may offer no interest for 6 months, or no interest until a certain date.  Be sure to know what the interest will be after the special offer expires.  Note: Most of the time if you do not have the balance paid off before interest starts accruing the credit card company will charge interested based on either the original balance or current balance, which ever is HIGHER.  That means if you started out with a $2,000 purchase, have paid it down to $300, but your no interest time frame expires they can charge interest on the $2,000.

Fixed and Variable Credit Card Rates

A fixed rate credit card does not necessarily mean that the rate will be fixed the entire time you have the account open.  It will remain fixed, but if the credit card company changes the rate they are required by law to notify you of the change.

The Variable rate credit cards are usually based on other financial market information.  Most follow the prime rate, and if the prime rate moves up or down your credit card rate will follow.

(To Continue Reading Click How to Choose the Right Credit Card Part – 2. Learn about fees, credit limits and your grace period.)