Credit Card Comparison Blog

The Number One Secret to Drastically Reducing Credit Card Debt

The Secret to Drastically Reducing Credit Card Debt

Americans all over the country are extremely interested in drastically reducing credit card debt these days. Our country has spiraled out of control, as far as the economy goes. Millions of American families have recently found themselves unemployed or in the middle of a nasty foreclosure.

The amount of credit card debt that the majority of our citizens have accumulated certainly isn’t helping anything. Everyone is looking to reduce credit card debt. Even those consumers who are relatively stable, financially, are coming up with ways to reduce the amount of credit card debt attached to their name.

There are many ways to reduce credit card debt. They include…

1. Recalculating your budget to make increased credit card payments.
2. Becoming extremely self-disciplined and determined to pay off the “plastic.”
3. Researching debt consolidation companies and hiring a reputable company.
4. Using a debt elimination company.
5. Etc.

What most people don’t realize is that you can drastically reduce your credit card debt all by yourself. It takes a certain level of determination and will-power, but it can be done. You don’t necessarily need to hire a company to help you get rid of unnecessary credit card debt.

The secret to drastically reducing your credit card debt is to stop using your cards. Seems too easy doesn’t it? If you stop using your credit cards and continue making increased payments, you are bound to free yourself from credit card debt.

The problem is that many people get over their heads in credit card debt. They keep making payments, but they also keep using their cards. Instead of the credit card balance going down, it stays the same or increases.

Some consumers refuse to put away their credit cards because they say that the use of these cards is necessary for their credit score. If this is the case, try using a prepaid credit card. Your credit score will continue to go up, but you will be protected from spending more money than you have.

If you are looking to get out of credit card debt, try stop using your credit cards. Keep making your payments or even pay extra each month. You will be quite surprised how easily your credit card debt will be eliminated.

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Credit Cards with Southern Charm

Want the power of a credit card you can use anywhere in the world, but with the service of a local bank? If so, then check out a credit card from IberiaBank. IberiaBank offers the convenience of Visa-branded credit cards with a staff dedicated to exceeding its customers needs at every point of contact. Headquartered in Louisiana, the bank’s 121-year history and dedication to meeting the needs of it’s customers has made IberiaBank one of the top banks in the areas it serves. Now you can enjoy that same feel and service with a credit card from IberiaBank.

The bank’s competitive credit cards feature some of the lowest interest rates in the nation and all have no annual fee. Choose from credit cards that have a low interest rate, earn unlimted cash back rewards or earn rewards for travel, hotels and more. Each of the Iberia Bank credit cards also lets you transfer higher rate balances with no balance transfer fees and 0% APR for six months. View your account online anytime and enjoy excellent benefits and perks only offered to Visa cardholders. Plus, don’t forget that southern charm when it comes to customer service either.

Just because your next credit card comes from a local bank in Lousiana, doesn’t mean you can’t enjoy big credit card rewards. IberiaBank wants everyone to enjoy their personal relationship-based banking and excellent credit cards in whatever community they live in. Be sure to put them on your list of credit card issuers to check next time you’re in the market.

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Who Can Pay That?

Who Can Pay That?

Hasn’t anyone told NBC that the country is in a bitter recession? Apparently not, because the television network is asking for $3 million for a 30 second slot during the Super Bowl.

On the flip side, the network recently said that it is not having any problems selling commercial space. It has already sold 90 percent of its 67 commercial spots. Super Bowl XLIII is scheduled for February 1, 2009 and already it is becoming a heated subject.

Americans all over the country, including myself, find it ridiculous that millions of Americans are without a job and $3 million are being paid for a 30 second commercial spot.

NBC spokesman Brian Walker reported that advertising for this year’s Super Bowl is “on pace or ahead of past Super Bowls.”

Does that seem a bit ridiculous to you too?

Two of the biggest buyers of Super Bowl commercial space won’t be buying air time this year. FedEx blamed the recession and the economy. General Motors said that the timing wasn’t right this year.

A 30 second chimerical spot was $2.7 million in 2008. Why the $.3 million increase? John Ferret, an advertising professor at Boston University said, “You have a better chance of reaching people with the Super Bowl than with any other media buy that’s available.”

Tim Calkins, a marketing professor at the Kellogg Super Bowl Advertising Review said, “The Super Bowl is completely unique in its ability to reach everybody at the same time. There’s nothing else that’s even close.”

However, it all seems a bit pointless this year. The majority of Americans have dramatically cut back their spending. Even with almost 100 million people tuning in, the chances of viewers purchasing advertised products in this economy are slim to none.

Anheuser-Busch plans on advertising during the Super Bowl to keep up with tradition. Bob Lacky, chief creative officer for Anheuser-Busch said, “We’re obviously the game’s single biggest advertiser and have been for some time. It’s the one time when you can get, in one setting, the biggest concentration of adult beer drinkers at one time. This is a huge, huge selling platform for us.”

However, it certainly will be interesting to see how effective Super Bowl commercials are this year in this economy.

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Same Old Job, Now Less Pay

Same Old Job, Now Less Pay

For years, companies have offered raises to their employees. These raises have come throughout different times of the year. Raises are often offered as job incentives. Employees around the country can kiss those raises goodbye this year.

Many companies are tossing annual raises out the window. Millions of employees will be making less this year than they did last year. “Stingy” raises used to be considered any raise 3% or under. It is a completely different story this year. Employees will be lucky if their salary doesn’t go down.

John Dooney, the manager of employment and HR strategy for The Society for Human Resource Management, said, “Companies are looking for ways to keep their business intact without hurting customer service or quality. This is a potential option.”

Five percent of companies nationwide have reduced salaries at some point throughout the past twelve months. However, companies are stopping there. In effort to reduce cost further, companies have also reduced benefits, cut work hours, implemented salary freezes and reduced early retirement options.

Companies are expected to cut salaries anywhere from 10% to 20% during the coming months. Jo Prabhu, CEO of International Services Group said, “Companies have to cut costs. If they don’t do that, they’ll go out of business. Both the employer and the employee have to accept it as a fact of life.”

Many Americans are grateful to take a pay cut and are even more grateful to still have a job. However, taking a pay cut for many others is still hard to accept. Only 17 percent of American workers would be willing to take a pay cut to keep their job. Sixty-nine percent of American workers admit that their number 1 concern is keeping their job.

Bernadette Kenny, chief career officer of Adecco Group North America shares her thoughts, “This kind of approach of attempting to retain employees as opposed to layoffs is a new phenomenon. Organizations appreciate the talent that they have and are doing everything they can to retain the talent.”

What are your feelings towards this new “phenomenon? Do you agree or disagree with these tactics used by so many companies?

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Four Ways Credit Cards Can Help You

Four Ways Credit Cards Can Help You

The majority of our economy lives off of credit cards.  Why?  Because credit cards give us the opportunity to buy now and pay later.  But, is this the only benefit to credit cards?  Absolutely not.

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Top 4 Cash Back Credit Cards Of 2009

Top 4 Cash Back Credit Cards

Cash back credit cards are becoming more and more popular. It just makes sense to use a credit card that is going to benefit you in the long run. Cash back credit cards allow you to earn points every time you spend money. You can redeem these points for cash back at any time.

If you are in the market for a new credit card, you need to consider getting a cash back credit card. Take a look at these top four cash back credit cards.

Discover Open Road Card
Take advantage of the 0% introductory APR on all purchases and balance transfers. The Open Road card comes with no annual fee. You can also earn 5% Cash back Bonus points on your first $100 in gas and auto maintenance purchases each month. This is the perfect cash back credit card if you travel a lot or spend a lot of money on gas and/or automobile maintenance.

Blue Cash from American Express
American Express is rated the best credit card company by its customers. You can take advantage of excellent customer service and unbeatable cash back rewards with the Blue Cash cash back credit card. You’ll enjoy a 0% introductory APR for up to 12 months on select purchases. There isn’t an annual fee and you can earn up to 5% cash back on everyday purchases (even gas purchases).

No Hassle Cash Rewards from Capital One
You can get 2% cash back on select purchases at gas stations and major grocery stores. You can also earn 1% cash back on all other purchases. Your cash rewards won’t expire and there is no limit to the cash back you can earn. You can also take advantage of a 0% introductory APR on all purchases until October 2009.

No Hassle Cash Rewards from Capital One for those with Fair Credit
This is the perfect cash back credit card if you have less-than-perfect credit. You’ll earn 1% cash back on every purchase. You can also get a 25% annual cash back bonus each year. You also won’t pay any interest until June of 2009.

These are the most popular cash back credit cards on the market today. Even with the credit crunch, you can take advantage of these great cards. You can earn cash back every time you spend money.

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Top 5 Instant Approval Credit Cards

No one can tell you which credit card will be exactly right for you. There are many different factors to consider to choose the “perfect” credit card. Do you need a fixed interest rate, or would a variable rate credit card be just fine? Do you want cash back or travel points? Do you need a low interest rate? Do you want to earn travel points or hotel credit?

The perfect reward credit card for one person/family/household isn’t necessarily the perfect reward credit card for another person/family/household. However, it is still helpful to know which credit cards are more popular. Popular credit cards have a greater chance of suiting your needs than a less-popular credit card. Instant approval credit cards make the entire process quick, easy and pain-free. Here are the five most popular instant approval credit cards.

1. Blue Cash from American Express
The Blue Cash from American Express is one of the most popular cash back instant approval credit cards. You can earn up to 5% cash back on everyday purchases. You can even earn cash back on gas purchases. There isn’t an annual fee and you can take advantage of a 0% introductory APR for the first 12 months on all purchases. Also, for the first 12 months, you can utilize a low balance transfer fee (only 2.99%). The regular APR is as low as 11.99%. You’ll need excellent credit for this card but you can get a decision in under 60 seconds.

2. Hilton HHonors Platinum Credit Card
The Hilton HHonors Platinum credit card is the perfect credit card for someone who needs an express approval and who travels often. You can get up to 50,000 HHonors bonus points when you sign up for the card. There isn’t an annual fee and the APR is only 13.99%. For every dollar you spend at Hilton Family Hotels (including Doubletree, Embassy Suites Hotels, Hampton Inn and more) you will receive 5 extra HHonors points. You can also get 5 HHonors points for eligible purchases at drugstores, supermarkets, gas stations, and more. Get 3 HHonors points for every dollar you spend everywhere else. Another great thing about the Hilton HHonors Platinum card, there aren’t any blackout dates…ever. Apply today and get your decision in less than 60 seconds.

3. Discover More Card-Clear
Discover offers some of the best cash back incentives with the More Card. You can get between 5% and 20% Cashback Bonus points when you use your card at certain online retailers. You can also get up to 1% cashback points on all other purchases (and there is no limit to the cashback you can earn). When you redeem your cashback points for CashBack Bonus Partners’ gift cards, you can almost double your rewards. You can also enjoy online account access, online bill payment, and no annual fee. The regular APR on the Discover More Card is only 10.99% as well.

4. Starwood Preferred Guest Credit Card
Starwood Hotels and Resorts offers some of the most luxurious vacation spots in the world. When you sign up for the Starwood Preferred Guest credit card, you can take advantage of these premium hotels and resorts and exclusive American Express benefits. You can earn up to 25,000 Starpoints when you sign up for the card. This is enough for up to 6 free nights at a category 1 or 2 hotel. You can redeem your points for free nights and upgrades at more than 860 Starwood hotels and resorts in over 95 countries. Participating Starwood hotels include: Sheraton, W Hotels, Westin and more. There aren’t any blackout dates and no annual fee for the first year. You can even trade your Starpoints for frequent flyer programs with over 30 major airlines at almost a 1:1 basis. For every dollar you spend, you can earn 1 Starpoint and you’ll earn double Starpoints when you use your Starwood Preferred Guest Credit card at participating Starwood properties and/or retail partners. As always, you’ll receive a decision in under 60 seconds.

5. American Express Preferred Rewards Gold Card
Join the AMEX exclusive network, receive incredible rewards and get an approval decision in under 60 seconds. You can earn 10,000 Membership Rewards bonus pints when you spend $500 in 3 months. These points are redeemable for a $100 gift card. There is no pre-set spending limit and no annual fee for the first year. You’ll automatically be enrolled in the Membership Rewards Program. You will earn 1 Membership Reward point for almost every dollar you spend. You can redeem these points for shopping, entertainment and/or travel rewards. You’ll also be invited to Gold Card Events. These events provide you with exclusive access for tickets to select concerts, shows, major sporting events and more. The American Express Preferred Rewards Gold card offers unbeatable rewards and a quick approval.

There are thousands of more instant approval credit card offers out there. These are simply the five most popular instant approval credit cards today. Go to www.plasticrewards.com to find the best instant approval credit card for you and your family.

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How To Deal With Rising Credit Card Costs

How To Deal With Rising Credit Card Costs

The Federal Reserve recently slashed the primary rate to 0.5%. So, why are so many people getting hit with higher, more outrageous rates and fees?

Credit card companies are trying to offset their losses by charging consumers higher and higher fees. People who have less-than-perfect credit have already been hit hard. But, now people who pay all of their bills on time are beginning to be targeted.

Here’s what has happened so far…

-JPMorgan Chase has raised its rates on cash advances, overdraft protection and its default rate.

-A $10 monthly service fee will also be charged to customers who have carried a large balance for more than 2 years

-Citibank and American Express will soon raise interest rates by 2-3 percentage points

-Home Depot has reduced the number of in-store credit lines

-Nordstrom and Target have also raised interest rates

This certainly isn’t an all-inclusive list. Banks, credit card companies and financial institutions all over the country have tightened policies.

So, are you looking for a way to deal to rising credit card costs? Don’t carry a balance. If you don’t carry a balance on your credit cards, you won’t have to worry about sky-high interest rates. You also won’t have to worry about higher late payment fees.

America is definitely in a credit crunch right now. It is harder to get credit now than ever before. You don’t have to become a victim. Budget your money wisely and be careful about every purchase you make.

There is still time to overcome this credit crunch. Don’t let the credit card companies rule your life. Save your credit card for emergencies. Try to only spend the money you have in your checking account. Save some money for a rainy day. Your rainy day may come sooner than later.

The best way to deal with rising credit card costs is to not have to worry about it. Put your credit cards away and pay off your balances as quickly as possible.

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How to Pay Off $30,000 Of Debt

How to Pay Off $30,000 Of Debt

Do you have thousands of dollars in debt? Do you have more than $5,000 of debt? $10,000? $20,000? $30,000? More?

So many people have gotten in way over their heads in debt. This doesn’t have to be you. If you are tired of losing sleep at night because you are so worried about your debt, you need to take control of your situation. Paying off debt certainly isn’t hard to do, but it does take a certain level of self-discipline.

Thousands of people around the world have paid off their debt by:
-Moving
-Cutting expenses
-Budgeting, budgeting, budgeting, re-budgeting and budgeting some more
-Taking in roommates to offset cost of living expenses
-Adjusting the expectations of their lifestyle
-Paying much more than just the minimum payment
-Utilizing automatic payments
-Not using the credit cards
-Saving a cushion for emergencies
-Trading in the old credit card for one with a really low interest rate
-Finding more ways to earn money
-Being honest with friends, family and themselves about making this a priority
Most consumers don’t realize that it takes much more than money to pay off debt. People often say, “If I just had more money, I could pay off my debt.” But, the fact of the matter is that you could have millions and still find yourself in debt.

Paying off debt takes shear determination. You have to change the way you live. You have to change the way you think. You have to change the way you spend. And, you have to change the way you save.

You have to get to the point where you are absolutely determined to pay off your debt. Nothing can come in between you and your goal. Sit down and create a budget. You can pay off your debt. Your mind just needs to honestly believe that you can pay off your debt.

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Year-End Bonus? Probably Not

Year-End Bonus? Probably Not

Fewer businesses than ever are planning on giving year-end bonuses this year. The tight credit market and an extremely slow economy have the majority of businesses cutting back, especially on holiday bonuses.

The end of the year used to be a welcomed-time for many employees across the country. The end of the year meant a nice bonus check. But, not this year. More than 25 percent of small businesses are planning on cutting those bonus checks this year.

Paycycle, a payroll services company, recently conducted a survey. It polled many businesses to see if they planned on offering a holiday bonus. Over 53 percent of those who responded said that they usually do pay a holiday bonus. So many of those are reconsidering, thanks to the horrible recession we find ourselves in.

Companies and industries that have already been affected by the recession have been the first to cut back their spending. However, even some businesses that haven’t been affected yet are thinking twice about spending every penny. These businesses are trying new and creative ways to save their revenue instead of spend it.

Jim Heeger, CEO of Paycycle, gives us some insight to these small businesses, “In my experience, when it comes to cutting costs, small companies will curb benefits and cut pay instead of laying off employees. Particularly at long-established firms, employees come first, because there’s a family feel to them. When owners remove their own bonuses, it’s to ensure the business keeps going with happy employees.”

So, if you won’t be getting a holiday bonus this year, it may not be the end of the world. Be grateful that you are still employed and can still put food on your table. Yes, the holidays may be more meager. But, when all is said and done, your family still has the protection of employment.

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