Does Credit for Charity Good for You?
Charity credit cards have become increasingly popular over recent years, as people seek to support their favourite charities at seemingly no extra cost to themselves. When you take out one of these cards, a one-off donation of a few dollars is made by the card issuer to the charity linked to the card, followed up by a small percentage of everything you spend, again donated by the card company rather than the cardholder.
Cards are available covering a huge range of charitable organisations, from local to national and even international, and there is almost certain to be one that supports an area of concern to you.
All this sounds like a good deal for everyone involved, but is the picture as simple as that? The first drawback to a charity card is that the interest rates, balance transfer offers, and other deals are rarely as generous to the cardholder as those featured by other cards that compete under being a 'best buy' card. This may be a price you feel worth paying for the benefit the charity will receive, but you might in fact be better getting a cheaper card and donating the money you save to your charity directly.
Even putting aside the issue of higher interest charges, charity cards have another drawback - the percentage of what you spend that is donated is usually tiny, with 0.25% being a typical figure. Compare this to a typical cashback card which will pay between 1% and 2% of your spending, and it's easy to see that the card issuer may not be acting as generously as it appears. Again, by donating your saved up cashback directly to your chosen charity you might have a larger impact.
The other point to bear in mind is that the money charities get from the credit card companies isn't classed as tax-free, unlike direct donations, making it even less valuable.
So are charity cards a waste of time? In terms of actual sums donated they might seem so, but there are advantages to the charity concerned above and beyond the simple percentage donations. Firstly, by using your card you're helping to publicise the charity you're interested in, just by the simple act of handing it over to counter assistants, waiters and the like, who will notice an unusual card, as will your friends and colleagues.
Secondly, the charity is guaranteed that the donations will be made, however small. If you save up your cashback with the intention of donating it, there's always the chance that when you actually get the money you may have another pressing use for it, and the charity misses out.
Lastly, and perhaps most importantly, the huge marketing muscle and advertising resources of the card issuer are put towards publicising the card and the charity, at least to some extent. This means that more people will probably end up donating in total, even if the individual figures are smaller, and the charity gets more exposure in general.
So in summary, while charity cards may not be the most effective way to donate to charity, and they certainly aren't among the most attractive cards on the market financially, they can still be a worthwhile option if you find a card supporting a charity you have an interest in helping.
A Credit Card To Suit All Needs
In this day and age, a large number of the population is in possession of a credit card, sometimes even numerous credit cards! Banks and businesses are becoming more and more aware of consumer’s desires for specialised credit cards, and have thus introduced a myriad of credit cards that are joint ventures between banks and businesses. There are credit cards aimed at men, and credit cards aimed at women.
If you’re a sports fan, for instance, then you can’t go past the NASCAR credit card. Or there’s the NFL credit card, the World Series of Poker credit card, the MLB credit card, and the Bass Pro Shops credit card. People who love to travel would be interested in the British Airways credit card, or the World Perks credit card. If you like your cars, then the Subaru credit card, or the Volkswagen credit card is for you.
With the price of gas escalating out of control in the current world climate, gas reward credit cards are in big demand! Two such cards available at the moment are the Speedway SuperAmerica credit card, which lets you earn up to an 8% rebate on all gas and merchandise purchased at Speedway, SuperAmerica, and Rich Oil locations; and the HESS credit card, which lets you earn up to a 10% rebate on all HESS purchases.
For women, the Starbucks credit card is bound to be a favourite! As is the Borders and Waldenbooks credit card, for all people who enjoy reading. There are even credit cards for entertainment – both the Sony credit card and the Universal Entertainment credit cards provide fantastic rewards programs. If you have children, there’s also a credit card for you – the Toys "R" Us credit card can earn you awesome rebates!
Of course, when it comes to choosing a credit card suitable to your needs, it is important to read the fine print, and not just choose a card because it looks 'pretty'. All of the cards mentioned here can be examined in further detail and compared at http://www.getfastcreditcards.com.
Zero Percent Interest Credit Cards
Zero Percent Interest Credit Cards - Applying For A Low Introductory Rate Card
There are various credit card offers available. If you are an extensive credit card user, you are likely familiar with the different types of offers and rewards. One widely publicized credit card is the zero percent interest cards. Although these particular credit cards have several perks, they also have certain advantages and disadvantages.
Types of Zero Percent Interest Credit Cards
When applying for a zero percent interest credit card, it is important to know which charges qualify for zero percent. For example, if applying for a balance transfer with zero percent, the low introductory rate only applies to the dollar amount transferred from another credit card. On the other hand, some zero percent interest cards apply to new purchases.
How Zero Percent Interest Credit Cards Work
Zero percent interest credit cards are just like other credit cards, the only difference is that these cards come without the high interest. Zero percent cards are not permanent. Most credit companies offer the introductory rate for 12 - 15 months. During this period, all monthly payments are applied toward reducing the principle balance.
Applying for a zero percent interest credit card has several advantages. However, these cards also come with certain pitfalls. For example, if obtaining a credit card with a low introductory rate, timely payments are extremely important.
Some credit card companies allow a few mistakes. On the other hand, credit card companies offering zero percent will not tolerate irresponsible credit users. For example, if payments are a day late, the credit card company may revoke the introductory rate period and charge a much higher rate.
Benefits of Zero Percent Interest Cards
If hoping to consolidate and reduce credit card debt, zero percent interest credit cards can help. Because interest is not applied for the first 12 - 15 months, you can easily combine all credit card balances onto one card, and dramatically reduce the balance. Moreover, zero percent interest cards are perfect for financing home improvement projects or taking a vacation. To avoid paying a higher interest on purchases, the key is paying off the credit card before the introductory rate period ends.
