What to Do with the Credit Cards When They're Paid Off

By William Blake

You have worked hard and paid off that credit card. Now you can start shopping again, right? Hopefully that is not the choice you make. You will be right back where you started. Here are some other options.

* Keep your cards and don't use them. Some experts recommend that you keep accounts open in order to improve your credit rating. This can help, but if you're not using the cards it won't help much. And by keeping the cards, you open up the door for temptation.

This could also backfire if an identity thief gets his hands on your card number, because you might not detect fraud until it's too late if you're not inspecting your bills as closely as you did when you used the cards.

*If you are disciplined you could use the card every now and then to keep it active and boost your credit scores. But the temptation would really be there to keep spending until you reach the limit. Then you are back in debt and that is the last place you want to be.

* Close all accounts except for the one with the lowest interest rate, and use it sparingly. This is a popular option. It allows you to have a card to use in case you really need it and to improve your credit rating, yet you don't have multiple cards tempting you.

But even when you only have access to one credit card, it's possible to get into more debt than you can handle. If you're offered a credit limit increase, turn it down.

*If you don't trust your ability to control your spending it is best to close all your credit card accounts and not have access to credit. This may seem a bit extreme but it is better than going back into debt.

The latter should be a last resort because credit cards are helpful in building good credit. They can help improve your financial situation by helping you obtain low interest rate loans when you need them.

About the Author:

Before considering consolidation as a way to get out of debt, research the debt consolidation loan consequences. It's not always the best solution to consolidate your debt. Find out why on the Inside Debt Consolidation website at http://www.insidedebtconsolidation.com

What Equity Release Is Really Good For

By Chris Channing

Purchasing a home is a major milestone in one's life. Once you live your life in that home, you will not be able to bring it with you when you pass away. What will you do with your assets when you are gone? Many people look into equity release options to make use of their physical belongings before they pass on.

The value of your home can be use towards an equity release loan. Mainly this loan is designed for individuals who want to live in their home until they pass away. The equity of the home determines the amount of the loan that an individual may take out. The money that is borrowed does not need to be paid back, as the home will be payment once the borrower passes away.

With this large sum of money now in the hands of the borrower, many of the people that use this loan option travel the world or head on an extended vacation to relax. Once they finish their adventures, they can return to their homes to finish their long lived run on this earth. This can deeply calm the soul.

Many of the borrowers use their equity release as a source of income to supplement what they get in retirement. Many times this money can be taken as a large lump sum or a monthly income source like a job might provide.

If you do have heirs, it is the perfect way to give a young scholar a nice chunk of money for their schooling. That way they can study wherever they please and grow up to be whatever their imagination leads them towards. You can even divide the money up from an estate to pass on instead of the land so your heirs do not end up fighting over it.

You can make the money grow by putting it into a high yield savings account for your beneficiaries to inherit. This eliminates the problem of figuring out who gets what by allowing them to simply divide it equally amongst themselves.

Closing Comments

Equity releases are a type of loan that can really benefit an older person. They can even use it towards bettering the future for their beneficiaries.

About the Author:

Learn more on release equity and equity release mortgages.

What You Should Know About Credit Cards

By Don Pedro

With the introduction of the credit cards, buying and selling have become as much effortless as it could be. People now do not need to count the cashes, they simply just spend and then forget. And thus comes the term f credit card debt. When someone spends more than the maximum amount of his limit, he finds himself to be in credit card debt.

Credit card debt can become hazardous in times. And when the debts of more many cards have been transferred to another credit card which is new is called consolidate credit card debt.Unlike other debts, credit card debts can be desired sometimes and its sometimes popular among those people who wants their credit cards maximum grant limit increased.

At the beginning, it took some time for credit cards to reach distant corners of the world, but now credit cards are even accepted in online trading sites. In fact, most of the money transactions of today's world is run through internet using credit cards. No need to drive the car for half an hour leaving the chores to go and buy something, you can now buy almost anything in the comfort of you home.

The most common fact that many of the credit card holders suffer from is credit card debt. And those who usually do not like keeping account of their card balance while buying are most likely to run into a debt.

To help people keep all the record of money transactions and large business expenditures, business credit cards have been introduced. These cards can help the owners get an account of their business costs; it could be for analysis or may be for keeping record.

Even though online shopping has become extremely popular in the present time, but where there is money there are fraudsters. There will be hundreds of ways that they will try to cheat you, So before making any purchase by giving your credit card information make sure that the seller is authentic. Otherwise it will leave a bitter feeling in your mouth about online buying.

If you want a list of the most widely accepted credit cards, here are the names for you -America express, citi, diners club, JCB, MasterCard, visa and Discover.

Saying all these, its clear that credit card holders will only be able to enjoy the utmost freedom using their credit cards only if they use their card most wisely.

About the Author:

It doesn't matter how much you feel you are aware as regards Credit Cards information such as resources about Credit Card India , and Credit Card Even With Bad Credit , see the author's website and be entertained with really essential information http://www.freecreditcardsinformation.com

Retailer's Credit Cards: What Are They, And Should You Have Them?

By Steven J. Talrechi

The ads for them are everywhere. Retailer's credit cards promise to let us buy with no money down and no interest payments for as long as two or three years!

Are these retailer's credit cards the great deals that they appear to be? Let's have a closer look at exactly how these credit cards work.

While these credit cards really do let you buy with no money down, offer a 0% interest rate and let you avoid making payments for the first couple of years. This offer is usually limited to a specific purchase, however. Lets' say that you apply for one of these retailers' credit cards at a furniture store. They may offer a discount of 15% off of the purchase price for signing up, offer no payments for two years and a 0% interest rate for this introductory period.

This sounds like a great deal; however, if you can't pay off the balance on this retailer's credit card in this introductory period, then you'll be charged interest on this purchase. In fact, this interest is often retroactive and may even be compounded monthly ? this means you could end up paying far more than the purchase price for this item.

So, you have to be careful here. If you want to use one of these retailers' credit cards, you have to be willing to be very, very conscientious and pay off the balance on that credit card before your introductory "special" period ends. If you don't, you're going to be paying a lot more for that purchase than you intended to -- and here's the thing; a lot of times, retailers' credit card interest rates are HIGHER than those of your traditional Visa or MasterCard. Therefore, you're also going to be hit with a higher interest rate for those purchases.

If you're not sure that you can pay the entire balance within the introductory period, don't apply for the retailer's credit card. You are much better off not incurring this kind of debt; if possible, pay cash for these large purchases. If you cannot do so, then use a regular credit card instead ? the lower interest rates will end up saving you a lot of money over time. While you may lose out on the discount offered on the purchase price, you'll still be saving money by avoiding these retroactive interest charges.

In conclusion, then, a retailer's credit card can be a good thing to have if it's a store you shop at a lot and you regularly pay down your balance completely. However, if you don't shop at the store a lot and are only signing on for a retailer's credit card as part of a "special" deal in hopes you'll save money in the long run, be careful. Retroactive interest charges will come back to bite you if you don't pay down the balance by the end of the promotional period, and you'll be left paying a lot more than you would have if you had paid cash or even used a different credit card.

Finally, remember that no matter which credit card you use, you're going to end up paying a lot in interest charges if you don't use responsibly. So shop carefully, and pay down your credit card balances as soon as you can; in fact, it's a good rule of thumb to have that you never carry balances on credit cards for more than 30 days. Credit used responsibly can be a good thing, but you have to be careful just two you get it from.

About the Author:

Steven J. Talrechi is a veteran on credit and finance for over 10 years. He authors various topics on said field, including application for a credit card, and different credit card offers.