Winning The Credit Game!

Everywhere we go, the word credit can be found, shining huge dollar signs in front of our very eyes. Everyday we receive solicitation and promotions offering us credit. Credit actually makes the financial world go round, yet just the mere mention of the word can make many people very nervous. So why does credit get such a bad reputation?

It's been my experience that credit falls into the same category as politics and religion. People have very strong opinions about Credit. It has been around since the beginning of mankind. People would borrow either goods or services, to be repaid at a later date with interest. There's nothing wrong with that. And like anything else, it can be used, or abused.

There are programs that allow you to borrow from your IRA, or you can borrow from the equity that had built up in your home. Credit card companies often offer promotions to borrow money at a lowered rate of interest for a predetermined period. It's all good news for the consumer. One of the simplest ways to borrow money to use a Credit Card. The choices available are plentiful, with a variety of interest charges, annual fees, loyalty programs, and reward systems.

Many companies offer 6 months no interest credit. This is often an excellent way of saving money as you are basically given an interest free loan for those months. It's even more valuable if you are able to transfer some of the card debt from a different company into the interest free loan. The best advice is to make sure you always have the money in the bank, or in a savings account, to pay off your card when you are taking advantage of the interest free promotion.

That way you benefit from earning interest on your savings at your bank, but as soon as the interest free credit period has ended, you can pay the entire bill off without being hit for high interest charges. If you intend to pay off you credit card bill at the end of every month, there are many benefit programs and reward packages available.

You can receive award points every time you make a purchase with that card. These points can be redeemed in cash or discounts, and can even be used for the purchase of airline miles, etc. Some companies offer a consumer guarantee protection on items purchased with the card, and many will extend the warranties on those items. Many offer discounts such as car rentals, travel insurance, accidental damage insurance for any products you buy.

Also some companies charge an annual fee for using their card (especially business credit card accounts), so these should be considered against the cards benefits. If you are not paying off your monthly credit card bills, look for a card that offers a low interest. If you are paying off your monthly credit card bills, look for additional card benefits. Interest free credit periods are good news for saving money. Credit Cards are an effective, and easy way to borrow money for a short time. Be wise and prudent when deciding to use credit. The bottom line is the credit card companies want your business, and there is a credit card out there that can meet everyone's needs.

The author has been on both sides of the "credit" table. Through her experience she has been able to teach thousands of people about how to use credit responsibly.

Cecily Backstrom is passionate about credit and is the webmaster of Rapidly Moving Credit

In The News:

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table border=0 width= valign=top cellpadding=2 cellspacing=7trtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.npr.org/templates/story/story.php%3FstoryId%3D95620206cid=1255835915ei=IiDySLOAD6Te6AO9rrGtBQusg=AFQjCNGpWYM1yMCEa1cNT0zrZHFIWRgfyAFears Grow That Tight bCredit/b Could Crush GM, Ford/abrfont size=-1font color=#6f6f6fNPRnbsp;-/font nobrOct 10, 2008/nobr/fontbrfont size=-1Standard amp; Poor#39;s downgraded the bcredit/b of both companies and their financing arms this week. AFP/Getty Images Ford F-150 trucks sit at a dealership in b.../b/fontbrfont size=-1a href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.youtube.com/watch%3Fv%3DhvlBeiPY0MIcid=1255835915ei=IiDySLOAD6Te6AO9rrGtBQusg=AFQjCNHD-VxwgiQbPLyBDXwL1DUA3nB1cQVideo: Money Minute: GM, GE, Oil/a font size=-1 color=#6f6f6fnobrAssociatedPress/nobr/fontobject width=448 height=356param name=movie value=http://www.youtube.com/v/hvlBeiPY0MI/paramparam name=wmode value=transparent/paramembed src=http://www.youtube.com/v/hvlBeiPY0MItype=application/x-shockwave-flashwmode=transparentwidth=448height=356/embed/objectbr/fontfont size=-1a href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.theglobeandmail.com/servlet/story/LAC.20081010.RAUTOS10/TPStory/Businesscid=1255835915ei=IiDySLOAD6Te6AO9rrGtBQusg=AFQjCNEFIM2ZOrid0NrgurQ-BYpnmYN5AgbCREDIT/b WATCH HITS GM, FORD/a font size=-1 color=#6f6f6fnobrGlobe and Mail/nobr/font/fontbrfont size=-1a href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.freep.com/article/20081011/COL07/810110373/1019/BUSINESS06cid=1255835915ei=IiDySLOAD6Te6AO9rrGtBQusg=AFQjCNH_CNUPmjM9cqneV3N2lCyJcmplNwGM, Ford too big to fail?/a font size=-1 color=#6f6f6fnobrDetroit Free Press/nobr/font/fontbrfont size=-1 class=pa href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.theoaklandpress.com/articles/2008/10/11/business/doc48f16bfb39ad8772059293.txtcid=1255835915ei=IiDySLOAD6Te6AO9rrGtBQusg=AFQjCNECFyXPShSDrHowkdZrWfvQiG4bRwnobrOakland Press/nobr/anbsp;- a href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.businessweek.com/lifestyle/content/oct2008/bw2008109_718575.htm%3Fchan%3Dtop%2Bnews_top%2Bnews%2Bindex%2B-%2Btemp_lifestylecid=1255835915ei=IiDySLOAD6Te6AO9rrGtBQusg=AFQjCNEP3GZH3XzM7PZBFlPfM0a-Z4Pr1gnobrBusinessWeek/nobr/a/fontbr/font class=p size=-1a class=p href=http://news.google.com/news?sourceid=navclientie=ISO-8859-1rls=GGLG,GGLG:2005-22,GGLG:enncl=1255835915hl=ennobrall 746 news articles/nobr/a/font/div/font/td/tr/table
table border=0 width= valign=top cellpadding=2 cellspacing=7trtd width=80 align=center valign=topfont style=font-size:85%;font-family:arial,sans-serifa href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.nytimes.com/2008/10/11/business/yourmoney/11money.html%3Femcid=1256774157ei=IiDySLOAD6Te6AO9rrGtBQusg=AFQjCNFfav7j_n81Ps0cas3RcztTjDYP4Qimg src=http://news.google.com/news?imgefp=rhwaZ71oGCsJimgurl=graphics8.nytimes.com/images/2008/10/11/business/11money.190.jpg width=80 height=66 alt= border=1brfont size=-2New York Times/font/a/font/tdtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.newsday.com/sports/olympics/sns-yourmoney-1012credit,0,107333.storycid=1256774157ei=IiDySLOAD6Te6AO9rrGtBQusg=AFQjCNEBzXZfSxvdOfjXPcY91u9VfKnISAbCredit/b cards, bcredit/b crunch: consumers feel pinch as issuers `go b.../b/abrfont size=-1font color=#6f6f6fNewsday,nbsp;NYnbsp;-/font nobr9 hours ago/nobr/fontbrfont size=-1The bcredit/b crunch and weak economy also are taking a toll on bcredit/b cards. Perhaps you have noticed that you#39;re receiving fewer offers for bcredit/b cards in b.../b/fontbrfont size=-1a href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.nytimes.com/2008/10/11/business/yourmoney/11money.html%3Femcid=1256774157ei=IiDySLOAD6Te6AO9rrGtBQusg=AFQjCNFfav7j_n81Ps0cas3RcztTjDYP4QYour Money One Thing You Can Control: Your bCredit/b Score/a font size=-1 color=#6f6f6fnobrNew York Times/nobr/font/fontbrfont class=p size=-1a class=p href=http://news.google.com/news?sourceid=navclientie=ISO-8859-1rls=GGLG,GGLG:2005-22,GGLG:enncl=1256774157hl=ennobrall 16 news articles/nobr/a/font/div/font/td/tr/table
table border=0 width= valign=top cellpadding=2 cellspacing=7trtd width=80 align=center valign=topfont style=font-size:85%;font-family:arial,sans-serifa href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.signonsandiego.com/news/business/20081012-9999-1n12crunch.htmlcid=1255973992ei=IiDySLOAD6Te6AO9rrGtBQusg=AFQjCNGkxdyKyAm4uDzx3f9mrLHgvYO0oAimg src=http://news.google.com/news?imgefp=wexTL8dRuWUJimgurl=www.signonsandiego.com/uniontrib/20081012/images/news-cards220.jpg width=73 height=80 alt= border=1brfont size=-2San Diego Union Tribune/font/a/font/tdtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.signonsandiego.com/news/business/20081012-9999-1n12crunch.htmlcid=1255973992ei=IiDySLOAD6Te6AO9rrGtBQusg=AFQjCNGkxdyKyAm4uDzx3f9mrLHgvYO0oAbCredit/b squeeze literally hits home as card limits, equity lines pared/abrfont size=-1font color=#6f6f6fSan Diego Union Tribune,nbsp;United Statesnbsp;-/font nobr4 hours ago/nobr/fontbrfont size=-1By John Wilkens and Jennifer Davies The bcredit/b crunch buckling Wall Street and the world economy used to seem like distant thunder. b.../b/fontbrfont size=-1a href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.naplesnews.com/blogs/observation_post/2008/oct/12/moreplunderentry/cid=1255973992ei=IiDySLOAD6Te6AO9rrGtBQusg=AFQjCNG3Onbr7EDVqwgnnSCnQ7ifDuj6MwMONEY CAN BUY HAPPINESS/a font size=-1 color=#6f6f6fnobrNaples Daily News/nobr/font/fontbrfont class=p size=-1a class=p href=http://news.google.com/news?sourceid=navclientie=ISO-8859-1rls=GGLG,GGLG:2005-22,GGLG:enncl=1255973992hl=ennobrall 2 news articles/nobr/a/font/div/font/td/tr/table
table border=0 width= valign=top cellpadding=2 cellspacing=7trtd width=80 align=center valign=topfont style=font-size:85%;font-family:arial,sans-serifa href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://sify.com/finance/fullstory.php%3Fid%3D14774085cid=1256517725ei=IiDySLOAD6Te6AO9rrGtBQusg=AFQjCNHm1eOEgYZYPixptiZbAb_OpwSI-Aimg src=http://news.google.com/news?imgefp=KZJn5j1AWJEJimgurl=im.sify.com/sifycmsimg/sep2008/Finance/14757634_George_Bush_220.jpg width=80 height=55 alt= border=1brfont size=-2Sify/font/a/font/tdtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.ctv.ca/servlet/ArticleNews/story/CTVNews/20081011/g7_meeting_081011/20081011%3Fhub%3DCTVNewsAt11cid=1256517725ei=IiDySLOAD6Te6AO9rrGtBQusg=AFQjCNH8ZfyawwCfyaddU7LpW8klFX9aHgIMF endorses G7 plan to fight global bcredit/b crisis/abrfont size=-1font color=#6f6f6fCTV.ca,nbsp;Canadanbsp;-/font nobr13 hours ago/nobr/fontbrfont size=-1The International Monetary Fund is backing a plan by Canada and the other G7 countries to fight the worldwide bcredit/b crisis, which continues to play havoc b.../b/fontbrfont size=-1a href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.guardian.co.uk/world/2008/oct/10/georgebush-creditcrunchcid=1256517725ei=IiDySLOAD6Te6AO9rrGtBQusg=AFQjCNHFqWr8WXMuW2JNZ6b1KXvttez_9QBush urges confidence in government#39;s ability to rein in bcredit/b crisis/a font size=-1 color=#6f6f6fnobrguardian.co.uk/nobr/font/fontbrfont size=-1a href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.kxmb.com/News/284670.aspcid=1256517725ei=IiDySLOAD6Te6AO9rrGtBQusg=AFQjCNHFU85aFEgNuYhpai0jsHYSetOwZwbCredit/b crisis meetings...Stimulus bill...Baseball playoffs b.../b/a font size=-1 color=#6f6f6fnobrReiten Television KXMB Bismarck/nobr/font/fontbrfont size=-1a href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://scotlandonsunday.scotsman.com/business/Europes-leaders-hold-more-crisis.4583297.jpcid=1256517725ei=IiDySLOAD6Te6AO9rrGtBQusg=AFQjCNGrTqc9MqT9Zg7rPdwbqdur_jYx1wEurope#39;s leaders hold more crisis talks/a font size=-1 color=#6f6f6fnobrScotland on Sunday/nobr/font/fontbrfont size=-1 class=pa href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.news24.com/News24/World/News/0,,2-10-1462_2408555,00.htmlcid=1256517725ei=IiDySLOAD6Te6AO9rrGtBQusg=AFQjCNHhl7_GSMKadRGH5sexEJ7B9PchBAnobrNews24/nobr/anbsp;- a href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://ap.google.com/article/ALeqM5i7EAtIpIs4oZP8lIPHXobu2zPZnQD93OHBFG0cid=1256517725ei=IiDySLOAD6Te6AO9rrGtBQusg=AFQjCNFJgUMJN72lEqFVxJKh1RBz26t1uQnobrThe Associated Press/nobr/a/fontbr/font class=p size=-1a class=p href=http://news.google.com/news?sourceid=navclientie=ISO-8859-1rls=GGLG,GGLG:2005-22,GGLG:enncl=1256517725hl=ennobrall 2,101 news articles/nobr/a/font/div/font/td/tr/table
table border=0 width= valign=top cellpadding=2 cellspacing=7trtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.marketwatch.com/news/story/dtcc-addresses-misconceptions-about-credit/story.aspx%3Fguid%3D%257B7B5C1B13-9F34-44C0-971B-16EEF9FC0D64%257D%26dist%3Dhpprcid=1256578894ei=IiDySLOAD6Te6AO9rrGtBQusg=AFQjCNFFqgHxs_-xMc7HyhsOTeMJRNaIZADTCC Addresses Misconceptions About the bCredit/b Default Swap Market/abrfont size=-1font color=#6f6f6fMarketWatchnbsp;-/font nobr20 hours ago/nobr/fontbrfont size=-1Since that time, the vast majority of bcredit/b default swaps traded have been registered in the Warehouse. In addition, all of the major global bcredit/b default b.../b/font/div/font/td/tr/table
credit - Google News

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