Pros and Cons of American Express Credit Cards

The American Express company is one of the most prominent and widely respected financial services institutions in the world. Since 1987 they have offered customers credit cards in addition to their other services. These cards have various pros and cons, which prospective customers should consider carefully before making any financial commitments.

Pros

American Express has a reputation for solid customer service. This is very important in the credit card field, since it can help you settle disputes with merchants or resolve mistakes on your monthly statement. The company also has an excellent cash rewards program for many of their credit cards, offering 5 percent cash back on purchases, in some instances. Their cards also often come with higher spending limits than comparable credit cards...

Read More

Pros and Cons of Having a College Credit Card

We hear lots of stories about how credit cards ruin people’s lives in college, and how companies trick naïve students into debt.  But having credit is very important in the real world, and some kids are better with money than others and could really benefit from having a card. Here are some pros and cons of college credit cards.

Pros

  • Building up a good credit score can be essential for future major financial moves, such as real estate, automobiles, and bank loans; no credit history can be just as bad as bad credit.
  • With a card, there will be less need for carrying cash, and it will be easier to track where the money is going.
  • Kids can use computers, often better than their parents, and with credit cards they can keep track of their money and maybe even teach some parents a few tricks...
Read More

Pros and Cons of Capital One Credit Cards

Capital One is a financial services company that offers credit cards in addition to other customer products. The cards have achieved wide acceptance in the retail marketplace, and the company has experienced significant growth in its customer base in recent years. The cards come with a variety of pros and cons that a person must take into account before applying to Capital One for credit.

Pros

An important feature of Capital One cards is that they offer credit to people with inferior credit ratings who cannot get credit cards from other companies. For instance, they have a line of secured cards where the customer puts a certain amount of money in his account to protect the company against nonpayment...

Read More

Sears Credit Card: Review of the Pros and Cons

If you’re in the market for a new personal credit card, one option to consider is to go through Sears. Sears has two different card holder choices: a store credit card (Sears Card) or their Sears MasterCard. I’ll discuss their differences in a moment. Both cards require a quick application process at sears.com or in a Sears store and are sponsored by Citibank.

First, we’ll take a look at the Sears Card. This card can be used at any Sears store or affiliate, including K-Mart, the Great Indoors, Lands End and more.

Pros:
This card has a rewards system based on points. Once you add up enough points, you can start to redeem them for rewards for items such as restaurant gift cards, Sears merchandise, and airline tickets...

Read More

Consolidate Credit Card Debt in 2015? Pros and cons

It’s not too late to add a few more new year’s resolutions for 2015. If you’re drowning in credit card debt, that’s a great place to start. Consolidating your debt is one way to help pay it down. However, there are pros and cons of this approach.

Consolidate credit card debt: What to consider

Consolidate if …

There are several scenarios in which it’s to your benefit to consolidate your credit card debt. You should consolidate if:

  • You can get a lower interest rate. If you have a relatively good credit score, you may be able to qualify for a loan or 0% interest card that has a better interest rate than you currently have. If that’s the case, definitely consolidate; it will save you money.
  • You can get a fixed interest rate. If you currently have a variable interest rate (one...
Read More

Pros and Cons of Cash Advances on Credit Cards

In addition to using a credit card to make purchases, most offer the cardholder the convenience of a cash advance.  While the process of obtaining an advance is as simple as walking up to an ATM, the cost of taking out an advance is quite high.

In this article, we’re going to talk about withdrawing a cash advance using a credit card.  As part of that discussion, we’ll review the process of obtaining an advance, their limits, as well as the associated fees.  Then we’ll summarize this topic by discussing the pros and cons of these advances.

Cash Advances and Credit Cards

Additional Resources

The process of obtaining a cash advance is r...

Read More

Pros and Cons of Discover Credit Cards

Discover is one of the major credit card companies in United States. It offers customers a combination of reasonable rates and nice rewards. Originally it was founded by the largest US retailer Sears. Now Discover credit cards are issued by Discover Bank and the processing goes through Discover Network, Discover Debit cards are processed through Pulse payment system. There are some good reasons why clients in US love Discover cards and often prefer them to VISA and Master Card issued by other banks.

Discover Cards pros

  • All Discover cards are instant approval so you don’t have to wait for weeks to get the answer. Discover tries to approve you in 30 seconds. But in complicated cases it can take up to 30 days to process application.
  • Discover cards’ variable APR is between 10.99% and 20...
Read More