Are you aware of the fact that businesses can check your credit report without asking you for the permission to do so? You probably know that credit card companies will check your credit report whenever you apply for a new credit card (and sometimes for other reasons as well) but did you know that there are a variety of other businesses that may check your credit report? Perhaps you think that this doesn’t matter. Well, it does. Every time that a business does an inquiry on your credit report, there is the chance that your credit score is going to get decreased. You don’t want that to happen.

The first thing that you need to understand is that there is a difference between a “soft inquiry” and a “hard inquiry”. When you check your own credit report that is a soft inquiry. When a credit card company checks your credit report for the purpose of offering you a prescreened credit offer that is usually a soft inquiry. Most other inquiries are hard inquiries. You don’t have to worry about soft inquiries because they don’t impact your credit score but you should definitely be aware of the fact that hard inquiries can cause your credit score to be decreased – for no other reason than because someone looked at your credit report!

If anyone has ever told you that you shouldn’t apply for too many credit cards because it can lower your credit score, this is the reason that they have told you that. Every time that you file for a new credit card, the credit card company is going to do a hard inquiry on your credit report and your credit score is going to take a small hit. You should always be careful about only making smart applications to credit cards and loans that you really want and that you have a good chance of qualifying to get.

Unfortunately it isn’t just credit card application inquiries that you need to worry about. There are actually a lot of different businesses that can request your credit report. For example, did you know that when you rent a car using a debit card instead of a credit card, the rental agency has the right to check your credit report to make sure that they want to lend you the car? And yes, if they do that, your credit score may go down. Your credit card companies may do periodic hard inquiries into your credit report. And anytime that you conduct a business transaction, you may be opening yourself up to a look at your credit report.

The good news is that you don’t have to sit back and let your credit score go down because businesses are looking at your credit report. You should request your credit report annually and review the inquiries that have been made. You can dispute inquiries (like the rental car situation) and there is a chance that your credit score may be improved as a result of your dispute. At the very least you should be aware that this is happening!

Rewards credit cards are a great way to get something back for the money that you are already spending on your credit cards. However, most people don’t use rewards credit cards in a way that really maximizes their rewards.

Here are eighteen tips that you should follow to make rewards credit cards more rewarding:

1. Pay your balance off in full each month.

2. Use your rewards credit card to pay for everything that you can.

3. Make sure that you understand the way that rewards are accumulated.

4. Check if there are expiration dates on your rewards and use them before those dates.

5. Choose a rewards card that you will actually use (travel rewards if you travel a lot, gas rebates if you drive a lot, etc.)

6. Use the rewards card to purchase things for others. They pay you in cash, you pay the debt off immediately and then you get rewards for money you didn’t even spend yourself.

7. Choose rewards from the cards that can be given as gifts so you save money on required purchases.

8. Check to see if there are any bonus rewards. For example, some cards give you extra rewards for waiting until you reach a certain point level before cashing in.

9. Don’t get tempted to use rewards you haven’t earned yet. Credit cards offer this because they know people fail to earn those rewards and end up having to pay cash for them.

10. Use the rewards card for business expenses. You get rewards plus you get to write it off as a tax deduction.

11. Always make your payments on time. If you don’t, you pay a fee and reduce the amount of rewards you’re ultimately getting.

12. Use only one rewards card. Rewards can’t add up if they’re divided between cards.

13. Get a card with no annual fee. There is no point in paying to have a rewards card because the payment negates the value of the rewards.

14. Don’t buy things that you wouldn’t buy otherwise. Again, this is a way that people justify wasting money because they get some back on their rewards but if you’re buying things you don’t need then you aren’t being smart with your finances.

15. Make all of your monthly bills pay automatically with the rewards card. This will help you to quickly add up points.

16. Keep your credit report in good standing. Even if you make late payments to other credit cards and then pay this one on time, you can get penalized on the rewards card for having declining credit scores.

17.Use the perks of the rewards card. You don’t just get points or cash back from your rewards card. You also get other perks like fraud protection or rental car insurance. Know what these are and use them to your advantage.

18.Make sure you read the fine print. You want to know if there are ways to further maximize the use of your rewards card.

You have heard over and over and over again that it is important to make sure that you learn how to use credit cards responsibly. However, do you really understand the reasons that people are saying this to you? If you don’t understand the purpose of having good credit cards habits then you probably won’t be motivated to be responsible with your credit cards.

Here is a look at ten good reasons to develop smart credit card habits:

1. You’ll save yourself a lot of money. Poor credit card habits lead to high interest rates, frequent transaction fees and ongoing debt that ends up costing you a lot of money. Keep the money in your own pocket with smart credit card habits.

2. You’ll save yourself a lot of stress. Debt is a leading cause of stress which can significantly impact the way that you feel. It can even ruin your physical and emotional health. People who make good use of their credit cards won’t suffer from that kind of stress. This could mean that you’ll be healthier just by being more responsible with your credit cards.

3. You’ll have better relationships with the people in your life. Debt causes strain in relationships. You’ll fight a lot less about money if you have good credit card habits.

4. You will be able to get better loans in the future. When you go to get a loan for a car or a house, you’ll be glad that you have good credit behind you.

5. You will get better rewards back on your credit cards. The perks and rewards of credit cards go to those people who use them most responsibly. The better you are at wise use of your credit cards, the more that you’re going to get out of them in the long run.

6. You’ll have more time to devote to things that interest you. Debt makes you work harder to pay back loans. With less debt, you have more time to do things other than just work. Time really is money.

7. You’ll have more financial security. Good credit card habits mean that you’ll have access to loan money if indeed you do need it at some point in the future. This gives you a sense of security that you won’t have if you develop bad credit card habits.

8. It will be easier to do certain things in life. Having a good credit history can make it easier to do certain things like get good insurance or secure a great apartment.

9. You will have better self-esteem. People who aren’t good with money tend to have decreased self-esteem in comparison to people with good credit card habits. Those people who are financially responsible with their credit cards will typically be able to feel good about themselves.

10. These habits will serve you well for the rest of your life. Once you develop them, you are always going to have them and will be able to reap these benefits for a lifetime.

Charity rewards credit cards are a relatively new feature in the credit card industry and one which has gained a lot of attention because of the benefits it can offer. Charity rewards cards give a percentage of the money that you spend to a charity of your choosing; the charity typically depends on the card that you select. This benefits the charity that you are supporting and allows you to give back to the world around you without spending any money out of pocket. It can also make you look good if you’re a small business owner who wants people to know that you make efforts to contribute to the world around you.

However, not all is great with charity rewards cards. There are some things that you should be aware of before choosing to use a charity rewards credit card, things that could cause you to change your mind about just how beneficial the card might be. Here are four of the biggest issues to be aware of when choosing a charity rewards card:

1. The amount that the charity receives is minimal. Charity rewards cards do a good thing in the sense that they do indeed give money to worthwhile charities. However, the amount that they give is very, very low – it’s typically less than half of one percent of the amount that you have spent on the card.

2. The charity may not use the rewards money in a way that you support. This is a problem with giving to charities through any method. You can not control how the charity spends its money. If you’re truly interested in being involved with a charity group then you may want to volunteer time instead of money and keep your credit card rewards for yourself.

3. The amount of money that you donate through charity rewards credit cards can not be written off as tax deductible. This would not be the case if you were to actually make a cash donation. So you don’t get anything back for your giving. Many people consider this to be such a big drawback that they don’t see the point of having a charity rewards card.

4. The terms of the charity rewards credit card are not typically favorable to you. When getting a credit card, you should be looking for low interest rates and minimal transaction fees. These are less likely to be available with most charity rewards credit cards than they are with cards that are designed specifically to reward users.

There are great things about charity rewards credit cards. They do give a little bit of money to some good causes and don’t require you to pay out of pocket to give back. And there are some out there with favorable terms for the card holder. But there are also flaws with these credit cards that you should be aware of before determining that these are the right cards for you – and the right way to give back to the world around you.

There are many different things that are involved in credit card education. To understand your credit cards and to use them properly, you need to know how they work and what you can do to make them work in your favor. You also need to understand the point of view of the credit card company. It’s a case of needing to know the enemy. By understanding how it is that credit card companies turn a profit, you can better understand what you need to do to keep your money in your own pocket instead of using it to improve the credit card company’s bottom line.

Here is a look at some of the ways that credit card companies profit off of you:

• They charge interest. The most obvious way that credit card companies make their money is that they lend you a set amount and then charge interest so that they get more back in the end than what they lend out in the beginning. For example, you borrow $1000 from them to make a purchase but you are charged interest; by the time you pay it back, you’ve given them $1200 and they’ve made a $200 profit just by giving you the money. The way to make sure that the money stays in your pocket instead of going to theirs is to always look for a low interest rate on your credit cards and to pay back all debts as soon as possible after acquiring them so that you pay less in interest.

• They charge transaction fees. There are a variety of different transactions that you may make on your credit card which allows the credit card company to gain additional money. For example, you are likely to be charged a fee for completing a balance transfer transaction or getting a cash advance. This fee is usually something like 3% of the total transaction. So, they lend you the $1000 as a cash advance and automatically get 3% profit on that because of the fee; plus they still get the interest as described above. Choosing not to make fee-based transactions and being aware of the fee will help you keep your money in your own pocket.

• Penalty charges. There are also a variety of fees that can be applied as penalties when you don’t follow the rules of the card. For example, when you make late payments or you go over the limit on your card, you may be charged a fee or penalized with a higher interest rate. Make sure to always follow the rules of the card in order to reduce the amount of profits that you’re giving your credit card company and to increase what you keep in your own savings account.

Basically, you want to be aware of how credit card companies make their money off of working with you. You want to limit the amount of profits that they make in order to make sure that you’re keeping as much of your money as possible. The more that you understand about your money, the better of a position you will be in to use it well.

As you start to enter adulthood, you are going to find yourself wanting a credit card. If you are under the age of eighteen, you will not be able to qualify for your own credit card but may be allowed to use the credit card of a parent by having them get an additional card in your name on an existing credit card account. Once you are eighteen, you can get a credit card fairly easily, especially if you are a college student who is being offered student credit cards. However, you should still discuss the student credit card with your parents.

Here are some reasons to discuss student credit cards with your parents:

• You can get a better interest rate with their help. Basically, there are good terms and bad terms on credit cards. Parents with good credit can co-sign on a credit card in order to help you get better terms. This saves you money and gets you rewards from your student credit card.

• They can help you with the application. Even if your parents don’t co-sign on the credit card for you, their experience with credit cards gives them knowledge that can really help you in choosing the right credit card.

• It is best to be honest with your parents about money. The thing is, there’s an unfortunately high chance that you’re going to make mistakes with your first student credit card and that you could get into financial trouble because of it. This is a lot easier to go to your parents for help with if they played a role in helping you choose the card to begin with.

Now that you know why it’s a good idea to talk about student credit cards with your parents, here are some tips for discussing the issue of student credit cards with your parents:

• Know what it is that you want from them. Do you want to be allowed to use one of their cards? Do you want them to co-sign on a card for you? Do you just want advice from them about choosing a good student credit card? Know what you want before you start the conversation.

• Demonstrate your responsibility. Do some research into your credit card options. Write out a plan of how you would use the credit card including a budget for paying back big expenses. Hold down a part-time job for awhile before asking about credit cards. These things show your parents that you can be responsible with your finances and that you’re ready to start talking seriously about getting a credit card.

• Stay calm. Parents and kids talking about money together is a volatile thing sometimes. Stay calm during the conversation.

Parents can be a great resource when it comes to getting that first credit card. They may even be helpful in giving you tips about using and paying back the card. Try to think of them as this type of resource and not as the enemy when going to them to discuss student credit cards!

The majority of people that you know probably do not have excellent credit. If you are among the small group of people who has worked hard to make sure that you maintain good credit at all times, you are lucky. And you may not even know how lucky you are. A large percentage of the people who have good credit don’t actually make sure to take advantage of the benefits that having good credit offers to them.

Here are some tips on how to use your good credit to your advantage:

• Get lower interest rates on existing credit cards. Many people know that having good credit will allow them to qualify for a lower rate on new credit cards that they apply for but some don’t realize that they can actually request a lower rate from the companies that they’re already a borrower with. The fact that you are a good borrower makes these companies want to keep your business so asking for a better interest rate on your outstanding debt should result in a positive response assuming that you are direct and firm in your request.

• Get bigger loans. A major reason that it is good to have good credit is because it will allow you to get bigger loans than you could qualify for without this good credit. For example, a loan for a new car or a loan for a home mortgage is much easier to get when you have good credit. Use this to your advantage by figuring out how you can invest using your access to big loans (for example, you may invest in real estate property).

• Get a nicer apartment. Maybe you’re not ready to use your good credit to get a new house but did you know that you can rent a better place with your good credit? You’re able to qualify for better apartments in nicer neighborhoods when you have good credit so you might want to start thinking about moving up in the world around you.

• Consider loaning money to others. You can probably get a low interest rate and low transaction fee on a loan because you have good credit. If your best friend has bad credit, she may not be able to get a loan at all or may be able to only get one with bad terms. You could help her out by getting the loan yourself and then allowing her to borrow the money from you at a rate that is higher than what you are paying but lower than what she could get otherwise. Of course, there are risks inherent in this; there are good reasons lenders don’t make loans to people with bad credit. However, it could be a way to help others while benefiting financially yourself.

• Get perks and rewards. Use your good credit to qualify for credit cards that are platinum-level or otherwise beneficial to the card holder in ways that aren’t true with lower-credit cards.

There are many advantages to having good credit. You’ve worked hard to maintain that good credit so don’t just let it sit there unused.

If you have been paying attention to the news (particularly the news related to loans, mortgages and credit cards) then you have probably heard a lot of people using the term “credit crunch”. You may have a vague idea what this term refers to but do you really have an understanding of what the credit crunch is and what it means for you? If you don’t, this is something that you should take the time to learn now because it could seriously impact the choices that you make with your credit card applications and use of loans.

A “credit crunch” refers to a trend in the banking or credit card industry. This trend is to change the terms of loans to make it more difficult for borrowers to get good loans. There are two ways in which this may be done. The first is to decrease the overall number of loans that are being made available to borrowers. The second is to increase the interest rate or otherwise adjust the terms of available loans to make them less appealing to borrowers. The credit crunch may include either of these methods and often implements both.

A decrease in the overall number of loans being made can be done through a few different ways but the most common is to increase the requirements that make it possible to get these loans. During a credit crunch, people who found it easy to get credit cards in the past may find themselves being turned down when they make new credit card applications. To deal with this, borrowers need to improve their own credit reports. This will allow them to make sure that they can still get loans even though they are harder to get. If you want to survive a credit crunch, a good method is to focus on improving your own credit so that lenders will want to loan you money despite the crunch.

The second part of the credit crunch is more difficult to deal with as a consumer but it can also be mitigated by improving your own credit score. This part is the part where less favorable terms are offered to borrowers. There is only so much that you can do about this as a consumer because of the fact that minimum interest rates are out of your control. (Credit card companies that previously offered 9.99% interest rates may now only offer 15.99% interest rates and you can’t do much about it.) However, a better credit score still leads to better terms so you’ll want to make sure that you keep yours good.

A credit crunch results in fewer good credit card offers being made available in the market. However, there are still good credit card offers and loan options out there even during a credit crunch. Keeping your credit score high and being careful to compare credit card offers carefully before choosing the ones that are right for you are key methods towards surviving a credit crunch with little damage done to your finances.

When you operate a small business, you have to take care to present an image of yourself and your business that is conducive to positive and profitable relationships with all of your clients. One of the ways that you can do this (but which most business people aren’t aware of) is to pay careful attention to what your clients know about your business credit cards. You may be thinking that they shouldn’t know anything at all about your business credit cards but that’s not true; they should know limited information that can be useful to improving your business relationship with them.

One of the most important things that clients should know about your business credit cards is simply that you have them. Of course, you don’t need to go flashing the credit cards around but if you’re in a position where you have to pay for something in front of a client (a shared lunch, for example) then you should take care to use your business credit cards instead of either cash or personal credit cards. The reason for this is that it reflects positively on your professionalism that you have and use credit cards specifically designed for the business.

Another important thing that clients should be aware of is the way that you use business credit cards to improve the lives of others. For example, many businesses opt to get a green credit card or a charity rewards cards. These are credit cards that give back to a non-profit organization every time that you spend money on the card. These are things that clients are going to appreciate because they show your commitment to the world around you. Ultimately this is a benefit to you. If you use one of these types of business credit cards (and you should) it is completely appropriate to mention it as a giving-back feature of the business whenever you write about that topic in newsletters or email announcements. This is also something that you can mention on a page of your website which discusses your contributions to various causes. These types of feel-good things are great for business and using the business credit card to enhance this image is an easy way to boost your clients’ loyalty.

Of course, there are definitely things about your business credit card that your clients shouldn’t know. They shouldn’t know how many credit cards you have or what your outstanding debt is on those credit cards. Basically, your clients have no business knowing the details of your finances whether those details are positive or negative. It is bad form to share this information and it can lead to various kinds of trouble for you. When you are working to build up the image that you have in the eyes of clients and potential clients, you want to pay attention to your use of credit cards around them and make sure that you reveal certain useful information about the use of those credit cards without going so far as to reveal the financial details of your business.

It is tempting to get a department store credit card whenever you are offered one by the cashier at the place where you are making a purchase. This temptation is due in part to the fact that these cashiers tend to be aggressive in pushing the department store credit card. It’s also due to the fact that the department store credit card almost always offers an immediate percentage-off savings at the time of application. And it’s tempting just because we like to have more credit so that we can spend more money. But the short-term benefits of the department store credit card may not outweigh the long-term problems that the department store credit card can cause for you.

The most obvious problem that may be caused by department store credit cards is that they let you acquire more debt. The department store credit card adds another card that you can use when you get in that impulsive shopping mood. This means that it frees up more loan money than you already had available which means that you can get yourself into more trouble with excessive debt than if you had just used a credit card that you already had to make the purchase. Additionally, the department store credit card tends to have a higher interest rate and higher transaction fees than those of standard credit cards which means that you’re paying more in the long run for incurring that debt on a department store credit card than you would pay if you used a normal credit card to make the same purchase. This mitigates the savings that you get at the time of purchase and can cause you to lose money overall.

In addition to the financial problems caused by department store credit cards, you should know that these credit cards can cause damage to your credit report. Part of this is caused simply by the fact that you’ll be incurring that additional debt – and that you have yet another card that you may make late payments on. However, it’s also caused simply by filing the application to get the credit card in the first place. Every credit card application that you make causes a small hit to your credit score. This type of credit card application causes a small drop in your credit score that only lasts about six months but it also shows up as a mark on your credit report that can remain on the report for up to two years.

Department store credit cards offer some benefits. For example, they are easier to get than normal credit cards and are sometimes the only option for starting to establish credit when you don’t have any yet. But there are major drawbacks to the department store credit card including the high percentage rates, the fact that they allow you to incur more debt, their limited use at only one store and the impact that they have on your credit score just based on the fact that you’ve applied for them. These drawbacks make it so that the department store credit card bites you in the end despite the early benefits.