Verdict: The Platinum credit cards offered by MSUFCU have a few big advantages for cardholders. The credit limit is very generous and may be as high as $50,000 for those who qualify. There are also no hidden fees and a range of shopping and travel benefits. Still, these credit cards fall short with relatively high interest rates up to 17.9%. There is also a penalty APR that may be applied indefinitely and the rewards version of the card only earns 0.5% cash back on purchases, which is very easy to beat. Overall, this credit card is only recommended to members who do not carry a balance at all, always make on-time payments and don’t expect to earn rewards for purchases but simply want a free to carry card for large purchases.
Overview: Michigan State University Federal Credit Union (MSUFCU) offers two Platinum Visa cards to members. B
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In 2008, credit card debts raise for about $18B. It was said by CNN money department in New York that it drastically increases of around 66% just in the 2nd quarter of the same year. The debts that Americans have gathered in the same quarter of 2009 ballooned to 368% which makes credit analyst and experts alarmed. 2008 became a crucial year for lots of people especially those with debts because this was the time when recession is rampant and the balances of credit card went up to $25B.
In the current data gathered by CNN people are still engaged in shopping and in spending but they never consumed the same debts that was accumulated in the past years. The rate this year is still lower when compared to previous years. Do you know that as of July 2009 the rate was about $790B which is said to be lower of about 18% from the last quarter of 2008?
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Verdict: The BCU Visa Signature card has many benefits for cardholders. This credit card is the elite offering from the credit union and offers no pre-set spending limit, a low, fixed rate, an excellent rewards program and high-end travel benefits. With 24-hour concierge service, exclusive access to events and more, this credit card is the ideal choice for cardholders who travel frequently and have a high spending limit. Although there is an annual fee of $99 after the first year, cardholders may avoid this by maintaining $25,000 in investment accounts. Still, this cost may be worth it to many members who want a high-end card.
Overview: BCU offers four credit cards to members, with the Visa Signature being the elite option. This credit card has no pre-set spending limit and is designed for cardholders who have high spending levels, desire excellent travel benefits and want to earn rewards for their purchases.
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The Verdict: A high interest rate combined with a rewards program that doesn’t offer cardholders enough choice are the two main problems that keep the Restoration Hardware Credit Card from being a must-have for your wallet.
Overview: Like most store-affiliated credit cards, the Restoration Hardware credit card comes with a purchase interest rate that is simply too high. At the same time, the card’s rewards program isn’t nearly as flexible as are the programs offered by credit cards not affiliated with retailers. With the Restoration Hardware card, you can only redeem your rewards points for a Restoration Hardware gift certificate. Unless you’re a hardcore shopper here, you’d be better off applying for one of the many other rewards cards currently on the market. With these other cards, you can convert rewards points into everything from cash and airline tickets to hotel stays and merchandise.
How This Card Works: You’ll earn points every time you use your Restoration Hardware credit card to make a purchase. Once you’ve
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Can you declare bankruptcy on just your credit card debt? The short answer yes. The long answer well, keep reading the rest of the article.
Before 2005 you would be able to discharge on your credit cards without any consequence from your lenders especially in the discharge of debts in a chapter 13. Credit card companies have the ability to file an adversary preceding. They do this when the credit companies feel that you filed bankruptcy because your debt was not authorized, second that you used the card without any intention to repay the debt on your cards in the first place.
Not only do these companies have the ability to file an adversary preceding in a chapter 7 bankruptcy, but also in a chapter 13 after 2005. There are many things that can cause your lenders to file an adversary proceeding on your discharge, here are just few: A newly issued card, Using your card for recent vacations and trips, Going passed your limit, Having a lot of debt at filling, Increasing the amount that you use the card just before filling bankruptcy, Making an significant cash advance before filling bankruptcy, Talking to a bankruptcy lawyer first and then charging more on your cards afterwards. Read more…
If you need a credit card for people with poor credit then the first step that you need to take is to check your credit and find just how poor it is, and whether or not you can fix it. Your chances of being approved for credit cards for people with poor credit are slim unless you can prove to the company that is offering the card that you are a safe risk to pay the credit card bill. This can be difficult if you have a history of not paying bills on your credit scores but there are a few options that are available to you.
The first thing to do before you even begin to check credit card offers for people with poor credit is to get a copy of your credit report. You can do this for free at the site set up by the credit bureaus to comply with the Free Credit Reporting Act at www.annualcreditreport.com or you can pay for a copy online.
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