Tuesday, December 26, 2006

The Business Credit Card: Spending in the Company’s Name

By Aaron Ballantyne

Credit cards offer individual consumers the advantage of spending more without carrying dangerous amounts of cash in their wallets. But did you know that there are packages available for big businesses and companies – and that business credit cards can offer businessmen and corporations the same benefits that consumers have?

How do business credit cards differ from individual credit cards, and how may these be advantageous to a business?

Most business credit cards will have much higher credit limits than individual credit cards. Because businesses have to spend on large amounts of money on bulk purchases such as computers, printers, and desks, they also need to be able to spend more. The higher the credit standing of a business, the higher the credit limit set on its credit card.

Most business credit cards will also have rewards programs, and these will be even more rewarding than individual consumer cards. Because business credit cards also ensure that more money will pour into a credit card company, there are more attractive incentives offered for business credit card users.

Most individual credit cards will have rewards programs, but credit companies will set a limit on the rewards you can receive, or on the cash that you can get back if you make gas or transport purchases. There will usually be no such limits for business credit cards, and you will get your cash back no matter how much you spend initially.

Points and frequent flyer miles acquired for purchases made by individual credit cards will usually expire if they are not used immediately. There are no such deadlines for most business credit cards, and the points and frequent flyer miles can be used whenever the business sees it fit.

What incentives do business credit cards commonly have?

Points accrued from purchases can be used as frequent flyer miles for certain airlines. If your company is in good credit standing, you can also be rewarded with bonus miles the moment you apply for a business credit card. This is especially advantageous to companies that require their employees to travel. There are also more travel rewards associated with business credit cards, and these include discounts on air fare, or upgrade privileges.

Business credit card companies can issue additional, individual credit cards for employees depending on the applying company’s credit line.

Some business card companies offer rewards programs for purchases of office supplies at establishments such as computer merchants and bookstores.

Some credit card companies also offer cash back, or money back bonuses on employee travel expenses, such as gas, transport, accommodations, and dining.

If your company is in good credit standing, some credit card companies will offer thousands of points in bonus on your initial application. This can get you jump-started on their rewards programs, if any.

Some credit card companies can double your points when you use their business credit card to make purchases at certain establishments. This means that you can get more rewards faster.

If you are interested in applying for a business credit card for your company, then search for available packages through your bank, or online. When you have the details of many business credit card packages on hand, compare their advantages and incentives, and search for the credit card company that will meet your business needs. As with all credit cards, read the fine print for any taxes or fees that you may need to pay.

And, as with all other credit cards, control your business’ spending. If you can handle all the risks associated with credit cards, and if you choose the credit card that best fits your needs and budget, then you can get the most out of that business credit card.

Aaron Ballantyne is the owner of a credit card website with links where you can apply for a credit card which best suits your needs.

Wednesday, December 20, 2006

Types of credit card insurance

If you have a credit card, chances are that you've been offered a type of credit card insurance.

Payment protection plans are pitched that they will make your credit card payments for you if you are hospitalized, lose your job or suffer a financial hardship. There are many different types of credit card insurance. Including:

  1. Credit disability -- pays your minimum monthly if you become disabled.
  2. Credit unemployment -- pays your minimum monthly if you are fired or laid off.
  3. Credit life -- pays if you pass away.
  4. Most people don't need a credit card insurance plan.

Most credit card companies will not let you use the credit card when the insurance is making the minimum payment for you. If the estate can't cover the bills, your bills will be charged off by the credit card company.

Wednesday, December 13, 2006

Police searching for suspect in credit card fraud

By the Press-Citizen

The Iowa City Police Department is asking for assistance from the public in identifying a subject suspected of being involved in a credit card fraud.

On Dec. 6, police took a fraud report from a local business. The suspect used a stolen credit card to purchase several items. Police describe the suspect as a six-foot-tall white male with dark hair and a slim build. He was last seen wearing a black baseball cap.

Police ask that anyone with information about the crime call the department at 319-356-5279.

Wednesday, December 06, 2006

Casino credit card hits jackpot with mail

By Chantal Todé

While the number of credit card solicitations continues to rise every year - there were more than 6 billion in 2005, according to Mail Monitor - response rates have been declining. But one company appears to have bucked the trend, delivering average response rates four times the industry norm.

The Arriva credit card was introduced in July by Global Cash Access Holdings Inc., which operates about 70 percent of the ATMs in casinos. The company aimed to launch a branded credit card that served frequent casino visitors with good credit while taking advantage of the list of those same consumers it had accumulated as the operator of all those ATMs.

"[GCA was] already working with casino patrons who were dipping their credit cards in its ATMs for cash advances, and it saw an opportunity to provide a better product than what was available in the marketplace," said Will Metzger, account director at ad agency RowenWarren, which developed Arriva’s marketing campaign.

Many card companies charge higher-than-average rates to casino patrons asking for cash advances and don’t offer them grace periods or rewards points, he said.

In contrast, the Arriva card offers an interest-free grace period on cash advances, charges lower fees and interest rates on advances than many cards and gives rewards points for advances. The card can be used in the 800-plus U.S. casino locations that are GCA customers, and rewards points can be used for cash back on the casino floor, show tickets, spa packages or travel.

"GCA looks at casino patrons who are there for entertainment purposes and doesn’t discriminate against them the way that other credit card companies do," Mr. Metzger said. Other card companies often don’t view cash advances by casino patrons as an entertainment expenditure, he said.

To introduce the Arriva card to casino patrons, RowenWarren, New York, developed an integrated marketing campaign that includes a Web site, direct mail, take-away brochures and print ads.

The initial direct mail drop in July to 100,000 names tested three formats. One was a branding piece that sought to capture the excitement of Las Vegas, casinos and the gambling lifestyle through imagery and copy. It also offered 5,000 bonus points for signing up.

The branding direct mailer employed images of a man playing poker, a woman getting a massage and several men in a limousine. The copy reads: "The Action. The Rewards. The Excitement. Are You In?" The campaign’s "Are You In?" tagline was developed to invite people to participate in the adventure of a casino trip and to tap the aspirations of gaming patrons.

A second mail piece promoted a specific hotel and casino in Las Vegas with an offer for two days and one night free and $50 free slot play. The third mailer resembled the credit card offers consumers get in the mailbox daily.

The average response rate was about four times the 2005 industry average of 0.3 percent, though the branding piece produced an even higher rate. In addition, 1,700 consumers have become Arriva cardholders, and in-casino transactions have surpassed $6.5 million.

Branding generally is missing from credit card companies’ direct marketing efforts, Mr. Metzger said. He cited Capital One: The "What’s in Your Wallet?" TV ads have a brand message, "and then I get the direct mail and I don’t see any connection between the two."

Several more casino-specific mail drops have occurred since July, with GCA, Las Vegas, combining the hotels’ mailing list with its own. But the campaign kicks into high gear in January. In 2007, GCA will drop 200,000 mail pieces monthly for the Arriva card. The direct mail itself will be a combination of branding and casino-specific pieces. RowenWarren also is testing segmenting the audience further.

"There’s a difference between people who go to casinos as destinations and people who go to local casinos," Mr. Metzger said. "We’ll be exploring messaging in this area."

The Web site, which launched in July, also takes off next year with search engine optimization, pay-per-click advertising, sponsored content and banner ads.

In 2007, Arriva and RowenWarren begin broader advertising for the card in selected casino and consumer outlets. So far, ads have appeared in casino-related consumer and trade publications.

The Arriva card’s value proposition and GCA’s targeted mailing list are spurring this campaign’s success, Mr. Metzger said, along with RowenWarren’s ability to put a branding message into the direct mail piece.

"What RowenWarren does is figure out how to do branding and direct marketing at the same time," he said. "When you do it right, it really works."

Tuesday, November 28, 2006

Cash Rebate Credit Cards

There are so many credit card companies on the market nowadays that there is intense competition for customers. Cash rebate credit cards are just one of the many types of credit cards that are offering rewards to card holders.

These credit cards are considered as the best reward cards because they actually pay cash as the reward. Since we all love to get money, offering cash is a good way of convincing us to use cash rebate credit cards.

Discover offered the first cash rebate credit cards. Other companies started to offer their own similar type of rewards credit cards when they saw the popularity that Discover gained from their ‘Cashback’ program.

In reality, cash rebate credit cards work by figuring a percentage of each purchase made into the cash rebate. Some credit card companies team up with certain companies so that purchases made from these companies offer a higher cash rebate percentage.

People consider cash rebate credit cards as a great idea and may have gotten them simply for the reward. However, they may sometimes forget that these are still credit cards. Cash rebate credit cards can be a way of earning some money back on purchases that people make.

Friday, November 24, 2006

Officials investigating IHOP debit card fraud


Police investigating $70,000 worth of debit card fraud at the International House of Pancakes, 4701 N. Freeway, say the restaurant and its employees are not at fault.

While the investigation continues, authorities recommend against using debit cards when dining at the establishment.

"IHOP has great food, but my advice is to pay in cash," Sgt. Joe Garcia, head of the crimes against property division of the Pueblo Police Department, said Wednesday.

"We are confident at this time that employees and the restaurant are not at fault."

Police are following the flow of debit card transactions in attempt to determine where the fraud is taking place.

Detective Lee Karr, lead investigator in the case, said he's phoned a national company involved in the chain of transactions several times and has not received a response.

"IHOP from the start has been cooperative and I can't say anything bad at all about them," Karr said.

Detectives have received numerous reports of fraud linked to the North Side restaurant dating back to June. During that time, Garcia said, five area banks have been victimized.

"We haven't found one incident of credit card fraud," Garcia said. "It's all debit cards."

IHOP restaurants are privately owned and each uses different payment equipment.

Karr said a Wheat Ridge IHOP reported similar fraud recently. Both restaurants use the same vendor for a computer-related service.

Monday, November 20, 2006

About Cash Back, Rebate Credit Cards

Cash Back credit cards give you cash or discount inducements every clip you utilize the card. The amount given is usually a per centum of your sum purchases excluding interest and finance charges. Cash back credit cards should be considered by those who be given to pay off their full balance every month, and therefore would not recognize the benefits offered by low interest charge per unit cards.

Cash back cards are always difficult to beat, but others may prefer a wages programmed offering commodity and services in topographic point of cash. The card you take will depend upon your peculiar demands and lifestyle.

Tuesday, November 14, 2006

Consumers switch for cashback

Consumers switching credit card provider pay almost as much attention to reward schemes as to interest rates, according to research from Morgan Stanley.

The survey found that, while 31 per cent of cardholders cite interest rates as their top priority when choosing a provider, 29 per cent of consumers cite reward or loyalty schemes as the primary consideration.

Cashback was the most popular reward scheme, tempting 70 per cent of those switching for reward schemes, followed by retail reward cards, which attracted 21 per cent.

Patrick Muir, marketing director of Morgan Stanley consumer banking, said: "With the majority of people paying off their credit cards in full every month, using a credit card with a reward scheme really makes sense."

But consumers' preoccupation with rewards schemes, particularly cashback, in preference over low interest rates could indicate short-term thinking.

A recent report from the Debt Counsellors found credit card debt was implicated in 91 per cent of all serious debt problems brought to advisers.

However, Apacs has recently welcomed moves among credit cards lenders to share information about at-risk consumers and encourage responsible borrowing.

Thursday, November 09, 2006

Etihad launches loyalty credit card with benefits

In the Middle East, HSBC Bank and Etihad Airways have launched a co-branded HSBC Etihad Guest MasterCard credit card. The card comes in three variants, based on income: a Classic Card, a Privilege Card, and an Exclusive Card. All three offer cardholders free membership of the airline's loyalty programme, Etihad Guest. The card allows users to earn Etihad Guest Miles on all purchases worldwide, ranging from 2 Etihad Guest Miles for every US$3 spent to 1 Etihad Guest Mile for every USD$1 spent, depending on the type of card held. Travel related benefits associated with the card include a free Priority Pass membership (with unlimited access to over 450 airport lounges worldwide), free insurance, and the UAE e-Gate option (fast track immigration at airports in Dubai, Abu Dhabi and Al Ain). According to Etihad, there are also plans to enable acceptance at e-Gates at other UAE airports in the future.

Web: http://www.hsbc.com

Sources: HSBC Bank Middle East Limited; Etihad Airways

Saturday, October 28, 2006

Happy Holidays from Discover Card – 5% Cash Back Credit Card Bonus Offer

Halloween hasn’t happened yet, but the television commercials are already pushing holiday spending. Another sign of the impending spending season: Discover Card is launching its "Make the Holidays More Entertaining" Get More program, which runs from October through December.

If you have a Discover Card, and sign up for its Get More program, you can get a total of five percent back on: purchases at certain stores and Web sites, movie tickets and rentals, as well as meals at specific restaurants. Some of the merchants who are participating are Amazon.com, Barnes & Noble, Borders, Circuit City, Crutchfield, Napster and Waldenbooks. (Cardmembers continue to earn up to a 1% Cashback Bonus on purchases in other locations.)

Some might say that the Get More program encourages over-spending. But according to Julie Loeger, Vice President of Rewards Marketing at Discover, it’s:

For complete detail visit Happy Holidays from Discover Card – 5% Cash Back Credit Card Bonus Offer.

Friday, October 20, 2006

SIFE Sense: credit card basics

Given the high prices of tuition and the common lack of hard cash, students often find credit cards a viable way to deal with funding problems. Credit cards are by their nature, designed to be an easy way for people to pay for expensive items over a period of time. The major problem is that many students who do get credit cards are unable to pay the monthly bills on time and end up paying more over a longer period of time due to interest rates.

There are options for students looking for a credit card. Student credit cards are perhaps one of the best ways to begin dealing with credit. The difference between student credit cards and other credit cards is that they allow students to hold a card without a job, income or a credit record. The only requirement is that the individual must be enrolled at a four-year college or university.

However, student credit cards can have some drawbacks. Since students may not have large incomes or jobs, they will be charged with higher interest rates. Research sites, like cardratings.com, offer comparisons between different cards' rates, annual fees, benefits and other terms. An interest rate in the mid-teens is typical for first-time cardholders.

One credit card company offers lower rates to students with higher grade point averages and those who pay on time. Some of the benefits associated with student credit cards are points or rewards at popular retailers.

Unfortunately, only 21 percent of undergraduates pay off their balance in full each month. A cardholder should maintain a budget and stay within his or her spending limit to avoid paying high interest rates and fees.

It is always important for students with credit carts to remember how much they can pay back from their spending and not just how much they can spend. Credit can be a great help in starting a successful financial future, but students must always remember to control their credit and not have their credit control them.

Monday, October 16, 2006

Tips for Finding the Best Cash Back Credit Card

Cash back cards can be great if you use your credit card for a lot of purchases and pay off the balance quickly. Using the card a lot means that you earn more cash back, and paying it off right away means that you don't lose what you earn to interest charges on the balance. Most cash back rates are around 1% of the total purchases, before finance and interest charges. Here are five tips to help you choose the best cash back credit card for you:

1. Consider your credit needs and habits. How much do you use your credit card? Do you use it more on certain vendors or types of purchases? Do you tend to pay of the card each month, or carry a balance? Are you looking for a high credit limit? What about extra services and perks?

2. Consider which card features are most important to you. In addition to cash back, are you looking for a low APR? Is it important to have no annual fee? Are you looking for a card that also offers extra services? Considering how important specific features are to you can help in narrowing down your choices.

3. Compare several cards to find the best one. There are all sorts of combinations of terms and features available from different companies, so it's a good idea to compare several cards that meet your most important criteria.

4. Don't lose sight of what's important to you. If the most important feature for you is getting the most cash back, avoid getting sidetracked by special deals that offer less actual cash. Special features are great - as long as you're also getting what matters most to you!

5. Check several sources of information. The Federal Reserve publishes a survey of credit card terms every six months, and there are lots of websites where you can compare offers. Check a variety of sites to view as many options as possible, and then narrow your choices down to the ones that really suit you.

Monday, October 09, 2006

Credit card rewards can be hard to figure out

SAN FRANCISCO — Airline miles? Cash back? Hotel points? These days, choosing among rewards cards is not for the faint of heart. Not only is there a plethora of cards from which to choose — how about money contributed to your IRA every time you make a purchase? — but they offer perks in a variety of ways.

And they all come with the inevitable fine print detailing myriad restrictions, making it difficult to figure out which is the best deal.

There's some evidence rewards programs stymie cardholders. About one-third of mothers in a recent survey said they're unsure what rewards their credit card offers, according to a survey of 223 mothers with rewards cards, conducted by Harris Interactive for Disney Rewards Visa Card from Chase.

Forty-one percent of the moms said they're dissatisfied with their rewards-card program, 34 percent said their credit card does not offer the types of rewards their family wants and 32 percent are frustrated by the restrictions their card carries. (Disney Rewards Visa says its card comes with no black-out dates or other common restrictions.)

For complete story visit http://www.mailtribune.com/archive/2006/1008/biz/stories/yomoney-rewardsvsusd10-8.htm

Saturday, September 16, 2006

Earn money while you spend with cash back credit cards

Cash back credit cards are an excellent way to earn money while you spend! Instead of making purchases with standard credit cards, you might want to consider applying for cash back credit cards because such cards reward you with cash back on every purchase you make! Further, in addition to cash back on all of your purchases, cash back credit cards offer you the opportunity to afford additional savings, in ways you might not have imagined possible.

The obvious benefit derived from having cash back credit cards is the money that consumers get back on every purchase. Frequently, credit card issuing companies will supply credit card users with approximately 5% cash back on certain purchases like those made at drug stores, supermarkets, and gas stations. Additionally, many credit card companies will give 1% cash back on all other purchases.

Due to the fact that you save 1 to 5 percent on many of your purchases made with cash back credit cards, you can find yourself saving quite a bit of money.

Monday, September 04, 2006

Check your credit rating

There are credit card companies that issue cards that give you free cash. It is usually only around 1% cash back. Free money is free money. If you are among people that like to buy a lot of things in one month. You need to keep in mind that they are not going to give you cash back on every purchase that you make. They will only give you up to a certain amount per transaction. The company also has a strict limit on the amount that they will give back to their customers.

You will see a paragraph with their limits in the terms and agreements. This is another way to try to draw in new customers for these companies. It is a good credit card to have and sounds great in theory. They will have to check your credit rating before they will give you their card. You should research different companies to see what they are offering. Few limits on the amount they will give you back.

Although these credit cards seem like a great thing to have. Some companies will need your credit rating to be great too. There are credit card companies that offer these cards to people with a low credit rating to help them rebuild their credit.

Monday, August 28, 2006

Cash Back Credit Card - Save As You Spend

To assist you do the most of your credit card spending, the major credit card companies have got available cash back credit card offers. This tin is one piece of plastic in your billfold that pays you each clip you utilize your card. Like any wages credit card, the agency by which you have your cash back varies.

You can have your discount in the word form of a check, a gift card to a specific retail partner, a credit to your statement, and some issuers even do sedimentation into a Federal Deposit Insurance Corporation insured business relationship opened in your name. By comparing the current offerings available and reading the mulct print, you can take the manner you salvage that other cash.

Some offerings necessitate you to bespeak your rebate, while others automatically issue your credit when a set amount of fillip points have got been accumulated. If you have your discount in the word form of a credit to your account, this is normally done automatically on a monthly basis. There are some cards which issue 1 discount bank check at the end of each year.

There are cash back credit cards that offering non expiring fillip points and the accretion is unlimited. Some cards have got a annual nest egg bounds of $300. If there is a termination day of the month on the fillip points is certain to maintain path of them. It could be grievous to free your nest egg because you needed to bespeak your fillip points but they expired. The cards that offering a 5% rebate, are generally referring to purchases or gift cards at spouse retailers.

The 1% cash back offers are normally for all other purchases with the card. So if its cash in manus you desire, consecutive 1% cash back credit card may be what you want. A recent gemstone of a cash back credit card is the Discover Platinum Card. As an added fillip to their cash back program, they offer double your fillip points when you deliver them for gift points with one of their many trade name partners. You can turn $20 in fillip points into $40.

The Discover Student Tropical Beach Card has this same characteristic and limitless cash wages that never expire. Just like when using coupons, with a small planning and choosing the right card, a cash back credit card can assist you to salvage as you spend.

Monday, August 21, 2006

Cash Back Credit Cards

Choosing Cash Back Credit Cards

Lots of merchants and big department stores suggest their customer’s credit cards with a “cash back” option, hoping that the credit cards will attract their customers to do more of their shopping in their picky store, and charge their purchases with the credit card in order to get the cash back reward in place of making purchases by hard cash. The two most general forms of cash back programs will either provide cardholders with a credit to their credit card balance when a purchase is made using the card, or the cardholder will receive coupons in the mail to use in the store during the next visit in order to receive a certain dollar amount off their total purchase price. The real dollar sum of “cash back” reward you get will depend on the terms and conditions of the program itself, which vary from card to card, as well as the real amount you charge on the card that offers the cash back incentive. Cash back credit cards are really popular with department stores, because the only way a cardholder can benefit from getting cash back is to create purchases by the credit card in their store.

If you are deciding whether or not a cash back credit card is the finest choice for your spending habits and credit needs, think whether or not you are a regular buyer in any picky department store. If you tend to do a lot of shopping in a store that offers a cash back program, it makes sense for you to gain their cash back credit card. The trick to using a cash back credit card, which tends to have a higher interest rate than a card without the cash back program, is to make purchases each month on the card that you will be able to pay off on a monthly basis. You’ll receive the rewards, and pay minimal interest on the purchases since you are paying them off on a regular basis.

Not all cash back credit cards are restricted to a particular store, however. There are some credit card companies who offer a regular Visa or MasterCard that can be used universally credit cards are accepted and who offer cash back reward programs for spending done using the card. If you are a person who doesn’t really shop in one particular store all of the time, you’ll want to research the credit cards that are not store specific that offer the cash back rewards. Be sure to research the terms and conditions of the card completely before signing up, as many cash back credit cards require you to pay an annual fee, have much higher interest rates than cards without cash back rewards, and in some cases- the credit card may require you to carry a balance from one month to the next in order to receive the cash back benefits, which means that you will probably pay more in interest than you will receive in cash back credit.

Try to determine how much money you plan to charge on the credit card throughout the year, and then following the conditions of the cash back program, figure out how much cash back those purchases are likely to earn you. Once you have these numbers, you’ll be able to decide whether or not the annual fee you pay for the cash back credit card is worth the cash back you actually receive. If your annual fee is significantly higher than the amount you estimate you’ll receive in cash back, you’d be better off selecting a credit card with lower interest and no annual fee that does not offer the cash back rewards.

Thursday, August 10, 2006

Best Cash Back Credit Card

Best Cash Back Credit Card tips

All of us know that Cash back credit cards can be big if you use your credit card for a lot of purchases and pay off the balance quickly. Using the Cash back credit card a lot means that you earn more cash back, and paying it off right away means that you don't lose what you earn to interest charges on the balance. Most cash back rates are around 1% of the total purchases, before finance and interest charges. I have got some ideas how to choose best cash back credit cards. So I am giving some tips which will surely help you to choose best of cash back credit cards.

  • Think about your credit habit and needs. To what extend you use your credit cards? Do you use it more on certain vendors or types of purchases? Do you tend to pay of the card each month, or carry a balance? Are you looking for a high credit limit? What about extra services and perks?

  • Think about which card features are important for you. If you are looking for low APR cards in addition to cash back cards. Is it important to have no annual fee? Are you looking for a card that also offers extra services? Considering how important specific features are to you can help in narrowing down your choices.

  • It is a good idea to compare a number of cards in order to find the best cash back card for you which meets all of your requirements.

  • Don't lose sight of what's important to you. If the most important feature for you is getting the most cash back, avoid getting sidetracked by special deals that offer less actual cash. Special features are great - as long as you're also getting what matters most to you!

  • Search for all information related to your requirement. The Federal Reserve publishes a survey of credit card terms every six months, and there are number of websites where you can compare various credit cards offers. Check a number of sites to view as many options as possible, and then narrow your choices down to the ones that really suit you.

Friday, August 04, 2006

Then cash back credit cards are all for you!

Using your home equity line of credit, you can eliminate bad debt, such as high interest credit cards, personal loans, or overdue bills.It does reflect on your individual credit rating, says Channing Barringer, an American Express representative. All it takes is one phone call to lower the interest rate. However, it might be hard for some of us to maintain that perfect credit history. With your new loan, you can then begin to eliminate your debt and improve your cash flow.

Additionally, MasterCard has initiated a relief program in which personal donations made by its global employee base will be double-matched by the company, and has also donated its advertising space in USA Today to the American Red Cross to help the organization communicate its important messages during this time. In this way, you can check whether there is anything reported wrongly in your credit report and can have things rectified. About 10% of your score is affected by your Mix of Credit. It is amazing how one can low interest eliminate credit card debt do everything here.

Now that may not seem like much, but what if you owe $5000, $10000, or even more? And remember, that’s before you start to repay the money you owe. It can be redeemed for flights, hotel accommodation or even car rentals. It precludes many potential cardholders. Balance transfers simply means to transfer the remaining balance in the credit card to another card in order to eliminate the presence of a big interest rate.By consolidating your short term debts with a single home equity loan, you can eliminate your unsecured debt’s negative effect on your credit score.