Tag Archives: credit cards

Charles Schwab Credit Card: what made it tick

The Charles Schwab Credit Card has since been discontinued by Schwab. But let’s try and scratch the surface and see what made this card tick. The Charles Schwab Credit Card was an effort by Schwab to try and get as many accounts to their fold as they possibly could. This gave birth to a card that was essence a cash rebate credit card. What that meant is that all of your rebates get accumulated straight into your Schwab account. Let’s now look at some numbers instead of going on about what the card was all about in the first place.

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0 apr credit cards targeted at prime borrowers

If your credit score is in the region of 720 or more. I think you would have been flooded with offers and pre-approvals to take 0 apr credit cards from some credit card company or the other. Most of these offers boast the fact that they have 0% annual percentage rates on new purchases and balance transfers and they offer this for a period as long as 21 months. These offers for 0 apr credit cards are expected to become increasingly common as delinquency rates drop still further. It has already dropped from 26% it was a year ago and it continues to fall all the time. In an effort to boost it even further, credit card companies are doing everything. Short of giving away the card and paying you to use it. Continue reading

Cash Back Credit Cards

I don’t really think anybody wouldn’t have heard of cash back credit cards. But for those who haven’t, these are promotional credit cards introduced by many banks and financial institutions. These cards offer 3%-5% cash back on purchases you make using these cards. Some cards, instead of giving back spot cash, help you earn points. When these points reach a certain level, you avail either cash or some prize. Continue reading

Low Interest Credit Cards are Not Always Good

Low-interest Credit Cards are not always good especially if you don’t know why you are acquiring it. Besides, applying for every low-interest card that comes into your mailbox is probably the worst thing you can do to your credit score. Before we move on to why is it so, let’s understand what actually a low-interest card is.

Low-Interest Credit Card

It is a credit card with a lower interest rate or APR (Annual Percentage Rate) than other cards in the market. These rates usually range from 6% to 15%, depending on how creditworthy you are. Currently, there are three types of rates applicable to a credit card. Continue reading

How They Set Credit Limits on Credit Cards? And How to Increase it?

We all use dozens of credit cards, most of them have different credit limits, but we aren’t aware of how these credit limits on credit cards are set, are we? Let’s discuss how this thing works.

It’s been more than 5 years I have left my previous employment, which was a credit card company. However, I can still recall how they set credit limits for different people. There are two main factors that influence the credit limits on credit cards for an individual. These two factors are annual income and credit score. Approval of a credit card also depends mainly on these two factors. Continue reading