Credit Rewards Cards: Are They Right For You?

Written by James Dimmitt

Rewards cards have becomerepparttar latest rage inrepparttar 138573 credit card industry. Inrepparttar 138574 past, consumers shopped for credit cards that offeredrepparttar 138575 lowest interest rate. Next came cards with low interest rates and no annual fees. Today, consumers can shop for cards based on what type of “reward” they can earn for using a specific issuer’s card.

How does a reward program work? Typically,repparttar 138576 program awards points, "dollars" or a cash value based onrepparttar 138577 amount you charge. The rate at which you collect points varies depending on what you charge or where you charge it. Some programs offer extra points for using their card at a specific place such as a supermarket or fast food restaurant or for certain items.

Some programs offer a variety of rewards. Consumers can earn meals, tickets to sporting events, airline tickets, electronics, or even create their own reward program.

The goal is to get yourepparttar 138578 consumer to use your credit card as much as possible. Why? FEES! The credit card issuer makes money from two sources each time you use their card. First, fromrepparttar 138579 merchant who paysrepparttar 138580 issuer a merchant transaction fee and secondly, from you through finance charges and late fees.

Think Twice Before Co-signing For Anything!

Written by James Dimmitt

A few years ago a friend asked me to co-sign on an apartment lease for him. This friend didn’t have perfect credit and couldn’t getrepparttar apartment without a co-signer onrepparttar 138572 lease. He assured me that he was cleaning up his credit; in fact,repparttar 138573 manager ofrepparttar 138574 apartment told him he could resubmit his application and probably wouldn’t need a co-signer afterrepparttar 138575 first six months ofrepparttar 138576 lease.

He pleaded with me to help him this one time and promised me that nothing could go wrong. So, believing in my friend and that six months downrepparttar 138577 road I could have my name taken offrepparttar 138578 lease agreement, I took a chance and co-signedrepparttar 138579 contract for my friend.

Three months later my friend lost his job, couldn’t afford his rent payments, and wound up moving back in with his parents. Complicating matters worse, my friend wound up owing additional fees for breaking his lease. When he couldn’t afford those fees, guess whorepparttar 138580 management company came after? That’s right - his co-signer, me!

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