Creditcard Account – Be Clever With It
Creditcard Account – Be Clever With It 
By Steve Gee
The society we live in today makes it more and more difficult to manage without a account. We are told that it is the safest way to buy things over the internet or abroad as purchases are often covered by insurance. We can use it to manage our budgets as there are several weeks between buying the goods and being charged interest on our purchases.
We are constantly bombarded with advertisements telling us that one particular account is better than another. The number of different cards available is bewildering. All of them have benefits and, if they are used wisely they are a convenient addition to your banking facilities.
I say “wisely” with caution. It is easy to forget how much you are spending on a and then find that you can’t pay the whole of the sum back when the statement comes in. The trouble is, the more you get into debt, the more difficult it is to pay back, what with interest and card protection sums on top of the balance. Some accounts make an annual charge just for using them! Therefore, the best thing to do is to pay it back as quickly as you can.
If you are organised enough, find a card that works best for you. Some give cashback when you buy goods or, if you travel a lot, they will give you air miles. Just like anything else, the companies operating the accounts are trying to entice you to purchase using their card – so make it work for you! It is important to check out the additional charges too, as well as the rate of interest. There isn’t much point in using your credit card and paying it off completely when the statement arrives only to find that they charge you additional sums just for the privilege. That means you are paying more for goods that you could probably have paid for straight away.
Not so many years ago the only credit card available to you was the one offered by your own bank. The only other option was American Express or Diners Club, which are charge cards where the balance has to be repaid in full each month. Although it seems safer, somehow, to use the card offered by your own bank, take a look at the benefits and you may find that some other accounts offer better rates of interest, lower or no charges and consumer protection. I should just add at this point that in the UK the Sale of Goods Act protects the buyer from most problems concerning faulty goods. Nevertheless, having the weight of a large credit card company investigating your claim can be a distinct advantage.
If you buy goods online regularly, it might be a good idea to find a credit card account that offers an online fraud guarantee. This protects you from unauthorised charges being made against your card as a result of using your card online. With the reported increase in this type of crime, you could find that having this protection is very worthwhile.
With vendors now finding it easier and easier to set themselves up with credit card processing accounts you can be sure that you are going to need a credit card account for some time to come.
Steve is a software engineer and webmaster of www.creditcard-account.thecatcollar.com
