The Right No Annual Fee Credit Card

Trying to entice more customers many credit card companies are offering much more than just the usual perks. Normally credit cards have annual fees that they charge for just owning one of their credit cards. Now many credit card issuers are devising no annual fee credit cards available. Just keep in mind that certain credit cards charge annual fees for a very good reason: to offer consumers more benefits.

No Annual Fee Credit Card vs. Higher Credit Card APR

Credit card companies will add an annual fee to a credit card sometimes AND reduce the annual interest rate on it dramatically. For those who keep a balance on their credit card every month, having a lower APR is almost a godsend. By paying your credit card bill on time you can continue to save money on your interest charges with a low APR credit card. A Low APR Credit Card may not be the card for you if you normally don’t carry a balance on your card.

No Annual Fee Credit Card: Additional Perks

Lower interest rates aren’t the only thing that no annual fee credit cards offer. There are several other benefits aside from that. If you travel often you may be interested in knowing that there are many no annual fee credit cards that give you miles each time you use the card. If you are a shopper you may be interested in rewards cards with no annual fee that give you points whenever you spend which you can later use in their online catalog to exchange for name brand items. Also, other no annual fee credit card deals may also give you savings at major retailers, businesses, services or hotels. You may want to look for credit cards that encompass all these benefits without an annual fee.

Compare Which Credit Cards Best Suite Your Needs

Check the interest rates of the no annual credit card offers initially and compare them before comparing their other benefits that they provide. For the no annual fee credit cards you are thinking about applying for write down their interest rate details and benefits to compare side by side. You will know which card to choose when you compare the rates and benefits of each card you’re interested in. Nowadays, when you apply online you will most likely get a fast response acknowledging the receipt of your application and hopefully, your approval.

Bank of America and other big credit card issuers are handing credit unions with card programs another strong marketing message by starting to add annual fees to their cards once again.

Annual fees had been a regular feature of credit cards until 1990 when AT&T started offering a credit card without one and other card issuers quickly followed suit.  A combination of the economic downturn and increased regulations has helped bring them back, card analysts say.

So far, Bank of America says its annual fee of between $29 to $99 is “experimental” but analysts expect them to stick and for the bank try to wring at least a little money out of card holders who pay off their balances in full each month and therefore provide no finance charge income.

They also expect the practice to spread to other big bank issuers, leaving room for credit unions and other smaller card issuers without the bank’s high default rates to offer consumers a better deal.

But for banks, the fees are a moneymaker. They raked in almost $24 billion in overdraft charges alone in 2008, according to a new report from the nonprofit Center for Responsible Lending in Durham, N.C. And such a financial windfall has not gone unnoticed by legislators, consumer advocacy groups and the Federal Reserve, which are pressuring banks to revise the ways they charge customers.

In addition, customers now have the ability to opt out of the bank’s overdraft service, meaning they will not be able to use their debit cards or checks on purchases that would put their balances in the negative - thus avoiding a fee.

“Actions like these are rarely singular events. One issuer takes a new step and the others likely follow. Issuers are trying everything they can to reduce risk and increase revenue, especially since regulations are limiting their options,” said Bill Hardekopf, CEO of LowCards.com, a Web site hat helps consumers make card decisions. “Consumers have to pay attention to their bill and the notices they receive in the mail.”

While credit cards are not quite a necessity today, they do make life much easier. Purchases often go much quicker and many retailers and vendors are apprehensive when it comes to accepting personal checks.

There is a plethora of credit card issuers who continually issue thousands of cards. The JPMorgan group is quite well known in the credit industry. Chase credit cards have grown to become very popular among for Americans today.

Chase credit cards come with various different benefits and accordingly chase credit cards are classified into various categories. There are general purpose cards which promise great rates and excellent service. Another class of cards offered by Chase is for people who shop regularly with at retail stores. These are termed as rebate cards since they offer rebates on shopping when you shop with certain retailers. These also offer cash rewards. There are entertainment credit cards for people who wish to get VIP access to some concerts and other entertainment events.

Remember, card issuers change their plans frequently, so the information in this article is provided with the knowledge and understanding of the market at the time of writing.

Another category of chase credit cards is the travel cards where the credit card holders get travel related discounts and rewards. This category of chase credit cards is very suitable for people who travel a lot. Yet another set of chase credit cards is grouped as auto and gas cards, which offer rebates and rewards on everyday purchases. Retail cards are another kind of chase credit cards where you receive points on purchases made using this chase credit card. These points can then be redeemed for shopping certificates, entertainment, travel and more.

For students, there is a separate breed of chase credit cards, which is called student cards. These student cards help the students begin building a good credit history as well as offer some special benefits for students. Similarly there are college and university alumni cards for supporting your alma mater.

There is another set of chase credit cards that operate on similar lines. These chase credit cards are known as cards to support organizations. The organization can be something like a charity or any other organization that you want to support. Then there are military cards that are meant for the members of military both past and present. You can support your favorite teams or sporting organizations by getting a sports card.

Finally, there are business cards, which are very popular with both small and medium size businesses. They can be used by businesses for organizing their expenses, availing low interest rates and getting other benefits related to business.

With the many different cards offered by JPMorgan Chase, most anyone can find a category to suit their finance needs. By comparing the features of these Chase credit cards and by understanding the main objective behind them, one can easily zero-in on the Chase credit card that is best suited to her or his needs.

Author: Donal Gregor
No part of the article Chase Credit Cards Fit All Groups may be duplicated or reproduced without written permission from www.Eliminate-Credit-Card-Debt-2.com.

College students with student credit cards can learn financial responsibility. On the other hand, those same college students can create a burden of debt.

College credit cards have been specifically designed for college students and are commonly referred to as student credit cards. College credit cards allow the students to experience the benefits of credit cards early in their life. These college credit cards provide students with the ability to learn more about financial responsibility.

Additionally, for most of the students, their student credit cards are their first experience with credit that acts as a gateway to the world of credit cards. A few other students may have used a secondary credit card that was in their parent’s name. But, for many students, their student credit card is the first one in their own name.

Student credit cards are similar to regular types of credit cards in the basic sense; they function in the same way as any credit card would. However, there are some differences, which basically arise from the fact that student credit cards are used by people who have no prior experience with managing credit. That means the college students may not completely understand the concept of credit cards.

So, the credit card issuer is taking a risk by issuing credit to these students. Most of the students don’t even have a credit history to reference. In such a case, the card issuer has no guarantee of receiving timely payments or even receiving any payments at all. To counter such risks, the card issuer of college credit card requires the parent of the student to co-sign the student credit card application form as a guarantee. Furthermore, the credit limit on student credit cards is typically about $500-$1000 per month. That is lower than a credit limit for normal credit card agreements, but is generally high enough to meet the requirements of students.

Another risk mitigation instrument used by the student credit card issuers is the interest rate commonly referred to as APR. The APR on student credit cards is commonly higher than that applied to normal credit cards. High interest rates are applied to prevent students from overspending on their student credit card and eventually not being able to pay their credit card bill.

On the other hand, the positive spin of student credit cards and their tougher restrictions is that they are actually in favor of the student who receives the experience of managing a credit card. The greatest benefit is the college students using student credit cards have the opportunity to build good credit. And a good credit history will follow the student for a long time. A high credit score will definitely come in handy when applying for car and home loans in the future.

Author: Donal Gregor
No part of the article Student Credit Cards For College may be duplicated or reproduced without written permission from www.Eliminate-Credit-Card-Debt-2.com.