A Comprehensive Guide to Credit Cards

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A Comprehensive Guide to Credit Cards

Welcome to our guide to credit cards. Credit cards started out as a symbol of status that is exclusive to the upper class, but it has gotten so widespread that we all treasure it for the sake of convenience and even protection! The 164 million credit card holders in the United States spent $2,052,000,000,000 in 2005 (per Statistical Abstract of the United States) on credit cards (for those curious minds - this figure is 22% of our current national debt). It has gotten to the extent that it is virtually impossible to buy a plane ticket, reserve a restaurant table, or even get a new book from Amazon.com without a credit card!

Credit cards operate via our credit profile and grant us spending limits on credit so that we can spend the credit card company's money and pay them afterward. This has its pro's and con's, most notably provides spending opportunities and allows us to buy things we really want ahead of time in pro's, but it also gets us into heavy debt by encouraging reckless spending in con's.

Instead of discussing the pro's and con's, we would like to view credit cards as a part of our everyday life. We have written this guide with the mindset that we want to get the most out of this credit institution. We want to find the best strategy to tame this beast and make it most beneficial to us as everyday consumers. That is the focus of our efforts here at Money Economics.

Quick Start Guides

Ten Reasons on getting credit cards.
Unsure if you need a credit card? Check out this list and see if those reasons are compelling enough.
Four cards that everyone should have.
Each card is meant to cover your expenses in a certain category. Never leave home without them!
Do I qualify for a business credit card?
These cards usually offer better terms. It is actually very easy to get one.
How to dispute charges on your credit card statement.
Step-by-step instruction on credit card disputes.
Credit Cards vs. Department Store Cards
Side-by-side comparison of regular credit cards vs. department store cards.
Playing the credit card game for its perks.
Recipe to maximize the earning of perks from credit card promotions.
A few extra bucks!
A guide to the famous Balance Transfer Game.
Getting a free vacation!
Earning a vacation by getting the right credit cards. This includes air ticket and stays at 5 star hotels.

Top 4 Credit Card Tools & Tips

1.) Get a copy of your free credit report before you apply for the card
Knowledge is power - verify that your score is above 680 and error free.

2.) Only get credit cards that give you reasons to use them.
Not all credit cards are created equal. Only pick the ones that are worth it.

Credit cards with application perks
Doubles/extend manufacturer warranty
No foreign transaction fee cards

3.) Effectively manage your credit cards and other financial accounts
Avoid getting lost in the piles of monthly bills by managing them effectively.

Simplify! Simplify! Simplify!
Online account access and statements
Online bill payments and scheduling

4.) Use the right card for the right purchase
Not all credit cards will give you the same rebates. Pick and choose the right ones for the right use.

Cashback on gas and auto services
Cashback on office supplies
Cashback on food and entertainment

We always value your feedbacks and suggestions to improve our guides. As a matter of fact, we love to hear from our readers! You are the inspiration that keeps us moving foward.

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Back to the beginning of the guide.

SECTION TWO

Use you credit cards to build your credit history

SECTION THREE

Use your credit cards for your everyday purchases

SECTION FOUR

Warranty, Insurance, and other Benefits

SECTION FIVE

Use your credit cards to buy things that you will pay over time

SECTION SIX

Answers to some of the most frequently asked credit card questions

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