Most Americans receive at least two or three credit card applications in the mail every month.
Most
Americans
receive
at
least
two
or
three
credit
card
applications
in
the
mail
every
month
.
Why have credit cards become so popular?
Why
have
credit
cards
become
so
popular
?
For a merchant, the answer is obvious.
For
a
merchant
,
the
answer
is
obvious
.
By putting charge slips in a bank, the merchant can change credit card sales into cash.
By
putting
charge
slips
in
a
bank
,
the
merchant
can
change
credit
card
sales
into
cash
.
In return for processing the merchant's credit card transactions, the bank charges a fee that ranges between 1.5 and 5 percent.
In
return
for
processing
the
merchant
's
credit
card
transactions
,
the
bank
charges
a
fee
that
ranges
between
1.5
and
5
percent
.
The easiest way to establish credit is to open checking and savings accounts at your local bank.
The
easiest
way
to
establish
credit
is
to
open
checking
and
savings
accounts
at
your
local
bank
.
Then apply for a gasoline or store credit card.
Then
apply
for
a
gasoline
or
store
credit
card
.
These cards are fairly easy to get because retailers want you to buy their goods and services.
These
cards
are
fairly
easy
to
get
because
retailers
want
you
to
buy
their
goods
and
services
.
The third step, and the most dangerous one, is obtaining a major credit card like Visa, MasterCard, or American Express.
The
third
step
,
and
the
most
dangerous
one
,
is
obtaining
a
major
credit
card
like
Visa
,
MasterCard
,
or
American
Express
.
It is important to choose a credit card carefully because terms and conditions vary widely.
It
is
important
to
choose
a
credit
card
carefully
because
terms
and
conditions
vary
widely
.
Annual fees range from $15 to $75 a year, but some credit card companies charge no annual fee at all.
Annual
fees
range
from
$
15
to
$
75
a
year
,
but
some
credit
card
companies
charge
no
annual
fee
at
all
.
If you will be one of the growing number of people who don't pay off their credit card debts in full each month, look for the card with the lowest interest rate.
If
you
will
be
one
of
the
growing
number
of
people
who
do
n't
pay
off
their
credit
card
debts
in
full
each
month
,
look
for
the
card
with
the
lowest
interest
rate
.
Interest rates generally range from 12 to 18 percent, though it is possible to find cards with lower rates.
Interest
rates
generally
range
from
12
to
18
percent
,
though
it
is
possible
to
find
cards
with
lower
rates
.
A credit card can be your friend because it can get you through unexpected emergencies.
A
credit
card
can
be
your
friend
because
it
can
get
you
through
unexpected
emergencies
.
And if there is a problem with the products or service you purchase with your credit card, you have an opportunity to hold back payment by asking the credit card company to "charge back" to the retailer until the argument is settled.
And
if
there
is
a
problem
with
the
products
or
service
you
purchase
with
your
credit
card
,
you
have
an
opportunity
to
hold
back
payment
by
asking
the
credit
card
company
to
``
charge
back
''
to
the
retailer
until
the
argument
is
settled
.
Monthly credit card statements can also help you keep your records in order.
Monthly
credit
card
statements
can
also
help
you
keep
your
records
in
order
.
Finally, if you make payments on time, the card helps you to establish a good credit history.
Finally
,
if
you
make
payments
on
time
,
the
card
helps
you
to
establish
a
good
credit
history
.
A credit card can be your enemy because it is an invitation to purchase items you really do not need.
A
credit
card
can
be
your
enemy
because
it
is
an
invitation
to
purchase
items
you
really
do
not
need
.
The credit card companies' continuous offers of minimum payments, cash advances, and even months without payments may seem like a way to skate through a money crisis.
The
credit
card
companies
'
continuous
offers
of
minimum
payments
,
cash
advances
,
and
even
months
without
payments
may
seem
like
a
way
to
skate
through
a
money
crisis
.
In reality, your finance charges and fees only increase, and you go deeper into debt.
In
reality
,
your
finance
charges
and
fees
only
increase
,
and
you
go
deeper
into
debt
.
If you do find yourself in trouble, do not ignore the bills.
If
you
do
find
yourself
in
trouble
,
do
not
ignore
the
bills
.
Contact your creditors to explain your problem and express your desire to pay down your card balance.
Contact
your
creditors
to
explain
your
problem
and
express
your
desire
to
pay
down
your
card
balance
.
If that fails, a nonprofit organization like Consumer Credit Counseling Service can assist you in getting back on your financial feet.
If
that
fails
,
a
nonprofit
organization
like
Consumer
Credit
Counseling
Service
can
assist
you
in
getting
back
on
your
financial
feet
.
Most Americans receive at least two or three credit card applications in the mail every month. Why have credit cards become so popular? For a merchant, the answer is obvious. By putting charge slips in a bank, the merchant can change credit card sales into cash. In return for processing the merchant's credit card transactions, the bank charges a fee that ranges between 1.5 and 5 percent.  The easiest way to establish credit is to open checking and savings accounts at your local bank. Then apply for a gasoline or store credit card. These cards are fairly easy to get because retailers want you to buy their goods and services. The third step, and the most dangerous one, is obtaining a major credit card like Visa, MasterCard, or American Express.  It is important to choose a credit card carefully because terms and conditions vary widely. Annual fees range from $15 to $75 a year, but some credit card companies charge no annual fee at all. If you will be one of the growing number of people who don't pay off their credit card debts in full each month, look for the card with the lowest interest rate. Interest rates generally range from 12 to 18 percent, though it is possible to find cards with lower rates.  A credit card can be your friend because it can get you through unexpected emergencies. And if there is a problem with the products or service you purchase with your credit card, you have an opportunity to hold back payment by asking the credit card company to "charge back" to the retailer until the argument is settled. Monthly credit card statements can also help you keep your records in order. Finally, if you make payments on time, the card helps you to establish a good credit history.  A credit card can be your enemy because it is an invitation to purchase items you really do not need. The credit card companies' continuous offers of minimum payments, cash advances, and even months without payments may seem like a way to skate through a money crisis. In reality, your finance charges and fees only increase, and you go deeper into debt.  If you do find yourself in trouble, do not ignore the bills. Contact your creditors to explain your problem and express your desire to pay down your card balance. If that fails, a nonprofit organization like Consumer Credit Counseling Service can assist you in getting back on your financial feet.