Advantages and disadvantages of credit cards

Pros and Cons of Credit Cards Almost everything that has advantages will have its own disadvantages. In the same vein, the way you will expect to enjoy some advantages when using a credit card, you should also be aware of the disadvantages it carries. In this article, we shall look at both the advantages and disadvantages of credit cards. Advantages of credit cards Ease of use: You will agree with me that it is very easy to carry just a plastic in your wallet than bundles of cash in your pocket. Your card is worth your credit limit. This means Continue ReadingAdvantages and disadvantages of credit cards

Effects of too Many Inquiries on Credit Reports

Soft and Hard Inquiries Inquiries made on your credit forms part of the information you should expect to see on your credit report. But if you are the type that doesn’t care to ask about your credit report, you may not know how many inquiries that appears on it. You can’t just assume that there will not be any inquiry on your credit report. Inquiries can appear on your credit report for different reasons. Below are some of the reasons enquiries can be made on your credit. Application for credit card Each time you apply for credit card, the card Continue ReadingEffects of too Many Inquiries on Credit Reports

Essential Features to Consider in Travel Credit Cards

Travel Credit cards are good for overseas spending. Travel Credit cards are not the same, the fact that they bear the same name notwithstanding. The only common denominator among them is that they are specifically designed to cater for overseas spending. If you are the type that travels a lot and buys things overseas, holding a regular credit card may not be suitable for you. Otherwise, you will be paying much in term of fees and interests which you can ordinarily avoid or reduce if you hold any of the travel credit cards available for overseas travellers. Why Travel Credit Continue ReadingEssential Features to Consider in Travel Credit Cards

Effects of Late Payment on Credit Score

Have you ever considered what the effects of that late payment can have on your credit? If you are in the habit of making late payment, I will say that credit card is not meant for you. You may be asking ‘what is a big deal in it, after all you later paid up?’ Well, it is more than that. Before I start telling you the effects a late payment can have on your credit, it is important that I mention that late payment in this context is not restricted to credit cards alone, it covers other types of credits Continue ReadingEffects of Late Payment on Credit Score

Is 0 apr credit cards right for you or not?

Are you searching for  0 apr credit cards? A large number of card companies offer credit cards with 0 apr or credit cards with low apr these days. Unfortunately, not everybody understands what such cards actually offer. In this article, I will try to explain in a simple language the features of 0 apr credit cards so that you can know whether this type of credit card is right for you. The fact that you receive an offer for credit cards with 0 apr does not mean that you should go for it.  What is apr on a credit card? Continue ReadingIs 0 apr credit cards right for you or not?