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The use of credit card for purchases is now becoming a trend. It may have caused good effects to others and bad to some. Well maybe all these things would depend on the user, if he/she knows the proper way to use it. He or she will manage to enjoy its different advantages. So looking at the brighter side, let us enumerate these one by one.
Using a credit card is of no doubt a convenient way of paying and provides safety to the user for one need not to carry on cash whenever you need to buy something especially the expensive ones. Therefore, it takes away the fear of losing your cash for some other reasons like theft or carelessness. It also offers a protection under the Consumer Credit Act wherein you could get your money back whenever it is used on a fraudulent purchase after you have reported of its lost or theft. Some credit card companies give incentives, freebies, or special privileges to the users of their card. For example, you could earn “air miles” for every purchase you made and when you have earned enough, you could travel for almost free. Also gives cash rebates on purchases like common annual savings of 1% on all purchases which you can claim by receiving credit on your bill or a rebate check; gas rebates; store and restaurant discounts; and some seasonal rewards for the cardholder.
Cardholders can also exercise their “Stop Payment Rights”, in the event that an item you have purchased is never received or has been broken, or maybe you bought a plane ticket from an airline, which then subsequently declared bankruptcy; you can contact you credit card issuer and initiate a stop payment on that item or product.
For those people with bad credits, this is also a chance to regain a good credit reputation. Just being a good and responsible credit card holder who pays timely while help you restore your credit standing. A good rule of thumb is to prevent spending more than 15% of your available line.
By also using your credit card, you are helping an approved charity, because the companies are giving back a percentage of your purchases thus making a nice tagline of “helping while shopping”.

These are just some of those many advantages. If you are a smart and wise holder, all of these privileges and freebies are yours. So spend wisely!
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Everybody wants to save from their credit card use that is why many of the consumers are looking for low interest credit cards. If you do not have the idea about these low interest credit cards, here is a list of the top credit cards offering the lowest interest rates for its users. First on the list is the Capital One No Hassle Miles Reward card, it lets you earn 1 mile per dollar spent on purchases up to $1,000 each month and 2 miles per dollar above $1,000 monthly. No limit on the miles you can earn and miles do not expire. It has 0% APR on purchases for one year and no annual fee. Same benefits for the Ultra Card for professionals, just adding the “no blackout dates” and “no seat restrictions” feature. On the other hand, the Cash Reward card features 2% cash back on purchases at gas stations and major grocery stores, 1% cash back on all other purchases, gives no limit on the cash you can earn and cash will not expire. Also has 0% intro APR on purchases for one year and the annual fee is free.
The Discover More Card on the other hand offers 5% Cashback Bonus in categories like travel, home improvement stores, department stores, gas, restaurants, pet stores and many more and grants up to 1% unlimited Cashback Bonus on all other purchases and a 5% to 20% Cashback Bonus through their exclusive online shopping site. They also have their Miles Card that lets you double your miles on travel and restaurant purchases, and on their exclusive online shopping site. It lets you earn One Mile for every dollar on all other purchases and offers flexible redemption options for travel, gift cards, or cash.
Another card that offers low interest rate is the Citi Platinum Select MasterCard. Like Capital One, it also offers 0% APR on balance transfers and purchases but for only 6 months and has no annual fee as well. In addition, it also allows you a $0 Liability on unauthorized purchases and gives you access to a secure and free online account management. You could also enjoy significant discounts on gift cards, travel, merchandise and more.
One unique card called Citi Forward Card is not only a low interest card but will also rerwards you for your good behavior. This card grants up to 2% purchase APR reduction for every purchase, for those who stays under your credit line and pay on time 3 billing periods in a row. It gives you 6,000 bonus points after $50 in purchases are made within 3 months of account opening; 5,000 bonus points when you sign up for paperless statements within 3 months of account opening; and 5 rewards points for every $1 you spend on dining, books, movies and music. One will get 1 reward point for every $1 spent on other purchases and offers 0% APR for 6 months on purchases and balance transfers.
After carefully reading the features of each card, we hope you will find the one suited to your needs and let you earn privileges and save more money. |

Generally, no one would really wants or plans to file for bankruptcy. Its detrimental effects on someone’s life could even last for 5-10 years, as it will eventually reflect on one’s credit report. This incident is not something that anyone has looked forward to before if he or she has given a choice. After coming out of it, one will definitely find themselves feeling so alone. Friends are gone, acquaintances, and almost all the chances of starting a new life for it would be very difficult. One would really feel like a failure, to themselves and for their family. However, things happen, and you need to accept that. Therefore, the first thing you have to do is to get over its psychological effects. You are not a bad person, and you are not the only one experiencing it, during that point everyone knows especially yourself that you did everything you can. In addition, you have actually learned something, which could help you not to make the same mistakes again as you go on along your way and move forward with your life. After this self-analysis, you need to accept the fact that you would be going through a serious obstacle on your credit score rating. You will be experiencing denials on your loan request and a very difficult time to look for funds for your recovery plan.
So what do you need to do now? Of course, you must first improve your credit score. This would depend upon your payment history, length, amount, and the types of credits you used compared to your new credit. So after successfully obtaining a loan or a new credit card, make sure to pay timely, more than the minimum amount required perhaps and keep track of your payments online. Be very careful to those people whom you are planning to trust, when you have just been made bankrupt you will become vulnerable. This is what some companies are waiting for and most of them would use that chance to use you for criminal purposes so do not fall for any such loans and frauds or else you will find yourself even more drowned in debt. The best advice would then be to observe self-restraint. Try living a simple life and do not spend beyond your capacity. Have a budget planned and make sure to have an allocation for all your bills and payments and of course, savings. Do not think of borrowing credit again, just be content with what you are earning and make that just your basis for spending. Little by little, you will earn your confidence and build a new credit standing then regain your life back.