Credit Card Rewards

Credit cards get a bad reputation. They are blamed for the consumer’s abuse and used as a crutch for overspending. But, credit cards aren’t all bad. They can provide insurance, purchase protections and extended warranties that debit cards or cash don’t offer. If used properly, bringing the plastic into play is your best choice for payment. Here are some of the benefits that credit cards offer over debit cards.

1. Renting a Car
Most credit cards will cover some damages that may occur when renting a car. That means you might not have to ante up for the extra insurance that rental companies push. A couple of conditions may apply, such as the driver must be the primary renter, you must decline the collision damage waiver and rental loss or damage insurance may not be available in every country. Exclusions may also apply so check the coverage terms in your policy.

2. Price Match
Credit cards help consumers with price protection. Should you find a lower price on the same item within 60 days, credit issuers will refund the price difference. There may be a refund limit, and there are exceptions. Make sure you save the printed advertisement and your receipt of purchase to complete claim forms for reimbursement. Some retailers will offer a price match policy, regardless of purchase method. But paying by credit card will guarantee the refund.

3. Purchase Guarantee
Many credit cards will offer protection on eligible purchases against theft or damage. Purchase protection can replace or reimburse the card holder, but may be limited to a certain amount per occurrence. Also, if a retailer refuses to accept a return within a reasonable amount of time (usually 90 days), some cards will reimburse you for the item. Debit cards don’t usually offer this.

4. Warranty Benefits
An extended warranty protection extends the length of the existing manufacturer’s warranty up to one year. In order to qualify, make sure you register the original warranty as required by the manufacturer. You will have to submit the store/credit card receipt and a copy of the manufacturer’s warranty. Debit cards won’t help you with the warranty.

5. Cash Safeguard
Many retailers, such as gas stations, car rental companies and hotels will “block” or pre-authorize a debit card purchase until the purchase amount clears in the checking account. Blocking can take up to two business days and create a hardship for you if you need funds for another purchase. Further, if there is a mistake in any purchase price, debit cards will deduct money from your account immediately. It may take some time to clear up, causing you more problems. Most credit cards will remove the charge while the error is investigated.

This was a guest post by DenverBankingRates.com, a site that provides daily updates on the latest Denver mortgage rates, finance information and more.

Instant credit card approval is a trendy new fashion amongst credit card companies, particularly credit card companies that search for clients online. The benefit of enrolling in an instant approval credit card program online is that you know within minutes whether or not you have been approved for a credit card. Instant credit card approval companies also rarely turn customers down. However, based on your unique credit history, they may adjust the interest rate for your card.

What You Should Know

When it comes to enrolling in an instant approval credit card program online, there are some basic pieces of information that you should know. To begin with, it is important that you are aware that whatever information you give the instant approval credit card company will be kept on their records for an undisclosed amount of time. This information includes your social security number, address, and other pertinent information about you. These companies have a reputation for selling this information to outside parties without your knowledge. Also, any information that you put online will possibly threaten your privacy. Therefore, many people opt to apply for an instant approval credit card via phone instead of online.

About Your Credit Rate

Your credit history and credit score will directly effect the credit rate that you get with your instant approval credit card. Following a brief background check, you will receive the verdict regarding your credit rate, so you will not have to waste a lot of time hoping that you are approved. You should also be aware that every time you open and close a credit card account, your credit score is negatively effected. Therefore, if you open an instant approval credit card, it is a good idea for you to stick with the company for a relatively long amount of time.

Beware of Scams

Email scams are popular ways for illegitimate instant approval credit card companies to get information about you and rope you into a credit card with an excessively high interest rate and annual fees. Therefore, before you commit to any one company, it is important that you perform ample research into the services that the company can provide. Find out if they have a history of treating clients well or not. The more you research, the more you will protect yourself and your credit score.

Instant credit card approvals are satisfying ways to know that you can receive a credit card. By applying for an instant approval credit card online, you are in a good position to get almost instantaneous information about your credit score and about how credit card companies perceive you. While it is not advised that you apply to too many instant credit card approval sites, applying to just a few can be a beneficial way of obtaining information about yourself. In the end, if you want to enroll in a credit card company that will be good for you in the long-term, do your research into individual companies. Most companies also offer additional incentives that you may find very attractive. Now get out there and shop!

Many people today have heard about the “instant approval” credit cards, but may not understand exactly what they are. Instant approval is the method used by banks and credit card companies to take your application and instantly make a decision based on data they get from your online credit report. It is different from traditional credit card applications because you are either approved or rejected as soon as your application is submitted.

Instant approval is a method that is different from instant decision. When a bank makes an instant decision, this means that a certain period of time is given to the credit card company to decide if an applicant is approved. They will typically do a detailed background check, and it may take days or weeks for them to decide if applicants are approved. Many people may have also heard of the term “instant credit.”

Instant credit means that in addition to being approved immediately, you are also given a temporary credit card that allows you to make online purchases. Instant credit isn’t used much by the banks today due to the many fraudulent charges that were made after they begin offering it. Instant approval gives banks a reasonable amount of time to determine if an applicant is a good candidate.

Instant approval applications are just as secure as traditional applications that are sent through the mail. If you apply for instant approval credit cards online, make sure you go through banks and credit card companies that offer the highest level of internet data encryption. In most circumstances, using secure online instant approval services are much safer than sending applications through the mail. If your application is approved, you can expect to receive your card in about a week. The delivery time will vary depending on the company you use.

In most cases, instant approval means that the bank will give you a temporary approval based on your online credit information that will keep you occupied while they do more detailed research. The banks will do additional research to make sure your online data is accurate. While many people who apply for instant approval credit cards think they will immediately be issued a card, this is not always the case.

It is also important to make sure you have decent credit before applying for an instant approval credit card. Most decisions are made based on the FICO score, and if you are declined you credit score could be lowered even more.