CREDIT CARD RATES » Credit Card Rates

As the recession started to take it’s toll on the American public, the once-powerful credit card industry panicked. They scrambled to make up for their reduced profit margins by filling the gap with additional fees, raised interest rates and stricter rules that they passed onto consumers.

Bad move.

Anyone who regularly engages in personal finance discussions knows the benefits of credit card rewards. In return for your usage of their rewards card, credit card companies are willing to pay you back a percentage of your purchases either through cash back rewards or through a points system.

For people who take advantage of those bonuses, the perks can be pretty sweet. However, have you ever wondered how credit cards make up the cost of paying its rewards members? After all, it’s not like banks are running a charity here.

This is a guest post by Mr Credit Cards from www.askmrcreditcard.com.

We all know that your credit score is used to determine if you get accepted for a credit card. Did you know that it has ramifications far beyond mere credit cards?

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Have you ever wondered about the sequence of numbers shown on your credit card, like how those numbers were chosen or what they mean? Most of us identify our issuing credit card company by the logo on the card. However, a little known fact is each credit card issuer has a specific sequence of numbers that appears on every one of the credit cards they issue and is not to be used by their competitors.

Credit card companies are known to charge numerous types of fees and penalties to delinquent consumers. However in certain times of hardship, cardholders can ask for credit card forbearance to help deal with the debt.

Sometimes banks will actually work with customers in exceptionally difficult circumstances to modify their credit card debt repayment schedules to something they can handle. The relief they’re offering is forbearance, which is not to be confused with credit card debt forgiveness.

Update: This CITI Bank contest has expired.

Good news for Exxon Mobil gas credit card holders – you can win $2000 for CITI Bank! Simply by swiping your Mobil gas card or speed pass, you’ll be entered to win! For those who don’t have a card yet, you can enter simply by applying for a card and be automatically enrolled to win.

Men and women who serve in the United State military are entitled to special rates on their credit cards while they are on active duty. The Service Members’ Civil Relief Act was originally created in 1940 to help soldiers with their debt while they were fighting in World War II. The law is still in existence today and it allows men and women who are in the military to pay a maximum of 6% on their credit card debt that pre-dates their active duty.

Many banks and lenders go beyond what is stipulated in the SCRA and charge the same low interest rate on debt incurred by service members while they are on active duty, not just on debt that predates it. Others charge 0% interest on pre-service debts. All are required to provide a service member’s spouse with the same credit card terms as well, so that means if a wife is serving in Iraq, for example, her husband back home in California will enjoy the same credit card terms as his wife in the armed forces.

Maybe you are usually quite good at balancing the payments for your credit card with your paycheck, but the holidays created a big gap between your bill and available income. Now you’re fearful that there is too much debt in too many places for you to manage properly. A balance transfer credit card with a low introductory offer is just the tool you may need to help get your budget into shape.

A recent survey from J.D. Power and Associates revealed that American Express is once again deemed America’s favorite credit card. Even in the midst of credit card companies being scrutinized for their questionable treatment of cardholders, this card issuer seemed to remain in its customers’ good graces.

What makes American Express cards so popular in comparison to the other big name card companies out there? Let’s take a look at what makes AmEx the best credit card available in the eyes of many–and why you might end up liking it, too.

Just when you thought credit card companies couldn’t be any more irksome (to be diplomatic about the whole thing) along comes “universal default.” Credit card universal default has recently been limited by the CARD Act, but the concept is still news to most people and never fails to make credit card interest rates more expensive.