MasterCard Gives Holiday Shoppers the Gift of Time

Looking for a Credit Card for Christmas Shopping? Before you submit a credit card application, first review the main points which will help you choose the right credit card for your needs.

What Charges You'll Make - If you're going to use the credit card mainly for booking airline reservations and hotels, it might be best for you to get a travel credit card that offers sky miles and hotel points or cashback. If this will be an emergency credit card only, then your main concern may be for a low interest rate credit card with low fees.

When You'll Repay Charges - Will you pay off credit card charges in full every month, or will you carry a balance month to month? If you're going to carry a balance, you want the lowest possible interest rate as well as a low introductory rate. But if you'll payoff balances in full every month, then interest rate really doesn't matter so no annual fee and/or a long grace period would be a bigger concern. If you're going to carry a balance, be concerned about how the finance charge is calculated. The most common method is the Average Daily Balance, which means that the daily balances are added together and then divided by the number of days in the billing cycle. Stay away from credit cards that compute the balance using two billing cycles, as this method costs more money in financing fees.

What Amount You'll Charge - If you're going to use the credit card for all your monthly expenses, then you need a card that has a high credit limit and a high cashback percentage.

More info about Interest Rates, Credit Limits, Incentives, Fees and Penalties

Interest Rates - The interest rate (Annual Percentage Rate) APR can either be a fixed rate or a variable rate that is tied to another financial indicator, most commonly the prime rate. With a fixed rate credit card you know what the interest rate will be every month, whereas a card with a variable rate can fluctuate. Of course, even the interest of a fixed rate card can change based on certain events, such as paying your credit card bill late, exceeding your limit, or simply because the credit card issuer decides to change it after providing you ample advance notice.

Credit Limit - This is the amount of money the credit card company will let you charge to the card. This amount varies depending upon the card offer and your credit history. Be sure to get a credit card with an ample limit, because getting close to your max can hurt your credit score. Just remember that you don't have to max out your limit just because it's available.

Incentives - To compete for and to gain customers, many credit card companies offer rewards. Even if you normally use cash, why not use your credit card and then use the cash to make the payment during the grace period? You still won't pay interest and meanwhile you'll rack-up rewards. A credit card with 5% cashback will earn you $5 for every $100 charged. If your total bills come to $2,000 per month, you'll earn a free $100 every month. Look for a rewards program that you'll use and which offers flexibility, such as cashback or travel.

Fees and Penalties - Compare common charges such as late fees, overlimit fees, balance transfers, cash advances, and for making payments by telephone. Regarding balance transfers, look for credit card offers with no transaction fees and zero percent interest for at least 12 months.

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MasterCard Gives Holiday Shoppers the Gift of Time

By Credit Federal | Published 12/5/2005

MasterCard Gives Holiday Shoppers the Gift of Time

New Survey Results and Historical Transaction Volume Information Offer Consumers Insight on the Best and Busiest Times to Shop

Should consumers go shopping early in the morning after Thanksgiving? Or, should they sleep in and shop later in the day?

According to MasterCard International, consumers can receive the gifts of time and convenience if they hit the snooze button and head out to the stores around 7 p.m. EST, when lines are shorter and parking spaces are more readily available.

A recent survey commissioned by MasterCard reveals that the majority of consumers are unaware of the best days; or least busy days, to shop during the holidays. Sixty-seven percent cited the day after Thanksgiving (known to retailers as Black Friday) as the busiest, while 15 percent said the Saturday before Christmas. However, historical transaction data from MasterCard shows that in 2004, the day after Thanksgiving was actually the sixth busiest day of last year's shopping season, and Thursday, Dec. 23 was the busiest shopping day.

The day after Thanksgiving is filled with activity for retailers and consumers. Since Christmas falls on a Sunday this year, we may see procrastinating shoppers out in full force on Friday, Dec. 23 and until stores close on Saturday, Dec. 24, said Rob Reeg, chief technology officer at MasterCard.

Also, the survey shows that the majority of consumers (more than 60 percent) identified long checkout lines as the part of the holiday shopping experience they like the least. To speed up their checkout times, consumers should consider shopping on a Sunday during the holiday season. In fact, a detailed analysis of historical transaction data at MasterCard shows that the Sunday after Thanksgiving could be the most shopper-friendly day for the remainder of the year. In addition, shoppers could shave even more time spent in lines if they shop between the hours of 8 to 9 a.m. EST, after Black Friday.

While transaction data at MasterCard illustrates that early mornings and late evenings seem to be the best times to shop to avoid long lines and parking lot hassles, shoppers should expect mid-afternoons to be the busiest -- when MasterCard historically sees the highest volume of payment card transactions. In fact, the busiest hour this year may be between 1 to 2 p.m. EST on Saturday, Dec. 24 (Christmas Eve).

After analyzing years' worth of transaction data, there are plenty of other times during the day when consumers can enjoy a more efficient shopping experience, said Reeg.

Survey Results Show What Shoppers Want During the Holidays: Time and Shorter Lines

When it comes to holiday shopping, consumers want more time, according to the survey MasterCard conducted. While 34 percent of those surveyed plan to spend an average of six to 10 hours shopping this holiday season, they'd prefer to spend it with their family (44 percent) or taking in some quiet personal time (43 percent). In fact, if shoppers follow MasterCard's suggestions and opt for what could potentially be the slowest day during holiday shopping Sunday, Nov. 27 they could do just that.

In addition, consumers can rest assured that whether they shop on the busiest or slowest day of the holiday shopping season, their MasterCard purchases will be processed quickly, safely and reliably through the global payment network at MasterCard, just like any other day.

MasterCard's processing system can handle the increase in transaction volume during peak times like the holiday shopping season and will perform at the same speed and reliability as it always does, said Reeg. Shoppers won't notice a difference when they pay with their MasterCard during the busiest or slowest day.

About MasterCard International:MasterCard International is a leading global payments solutions company that provides a broad variety of innovative services in support of our global members' credit, deposit access, electronic cash, business-to-business and related payment programs. MasterCard manages a family of well-known, widely accepted payment card brands including MasterCard, Maestro and Cirrus and serves financial institutions, consumers and businesses in over 210 countries and territories. The MasterCard award-winning Priceless advertising campaign is now seen in 105 countries and in 48 languages, giving the MasterCard brand a truly global reach and scope.

*Online omnibus survey questions commissioned by MasterCard International and conducted by Impulse Research Corporation's CyberPulse Survey

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MasterCard Gives Holiday Shoppers the Gift of Time - by <a href=http://creditfederal.com>CreditFederal.com</a> MasterCard Gives Holiday Shoppers the Gift of Time New Survey Results and Historical Transaction Volume Information Offer Consumers Insight on the Best and Busiest Times to Shop Should consumers go shopping early in the morning after Thanksgiving? Or, should they sleep in and shop later in the day? According to <a href="http://creditfederal.com/mastercard-credit-card.html"> MasterCard</a> International, consumers can receive the gifts of time and convenience if they hit the snooze button and head out to the stores around 7 p.m. EST, when lines are shorter and parking spaces are more readily available. A recent survey commissioned by MasterCard reveals that the majority of consumers are unaware of the best days; or least busy days, to shop during the holidays. Sixty-seven percent cited the day after Thanksgiving (known to retailers as Black Friday) as the busiest, while 15 percent said the Saturday before Christmas. However, historical transaction data from MasterCard shows that in 2004, the day after Thanksgiving was actually the sixth busiest day of last year's shopping season, and Thursday, Dec. 23 was the busiest shopping day. The day after Thanksgiving is filled with activity for retailers and consumers. Since Christmas falls on a Sunday this year, we may see procrastinating shoppers out in full force on Friday, Dec. 23 and until stores close on Saturday, Dec. 24, said Rob Reeg, chief technology officer at MasterCard. Also, the survey shows that the majority of consumers (more than 60 percent) identified long checkout lines as the part of the holiday shopping experience they like the least. To speed up their checkout times, consumers should consider shopping on a Sunday during the holiday season. In fact, a detailed analysis of historical transaction data at MasterCard shows that the Sunday after Thanksgiving could be the most shopper-friendly day for the remainder of the year. In addition, shoppers could shave even more time spent in lines if they shop between the hours of 8 to 9 a.m. EST, after Black Friday. While transaction data at MasterCard illustrates that early mornings and late evenings seem to be the best times to shop to avoid long lines and parking lot hassles, shoppers should expect mid-afternoons to be the busiest -- when MasterCard historically sees the highest volume of payment card transactions. In fact, the busiest hour this year may be between 1 to 2 p.m. EST on Saturday, Dec. 24 (Christmas Eve). After analyzing years' worth of transaction data, there are plenty of other times during the day when consumers can enjoy a more efficient shopping experience, said Reeg. Survey Results Show What Shoppers Want During the Holidays: Time and Shorter Lines When it comes to holiday shopping, consumers want more time, according to the survey MasterCard conducted. While 34 percent of those surveyed plan to spend an average of six to 10 hours shopping this holiday season, they'd prefer to spend it with their family (44 percent) or taking in some quiet personal time (43 percent). In fact, if shoppers follow MasterCard's suggestions and opt for what could potentially be the slowest day during holiday shopping Sunday, Nov. 27 they could do just that. In addition, consumers can rest assured that whether they shop on the busiest or slowest day of the holiday shopping season, their MasterCard purchases will be processed quickly, safely and reliably through the global payment network at MasterCard, just like any other day. MasterCard's processing system can handle the increase in transaction volume during peak times like the holiday shopping season and will perform at the same speed and reliability as it always does, said Reeg. Shoppers won't notice a difference when they pay with their MasterCard during the busiest or slowest day. About MasterCard International:MasterCard International is a leading global payments solutions company that provides a broad variety of innovative services in support of our global members' credit, deposit access, electronic cash, business-to-business and related payment programs. MasterCard manages a family of well-known, widely accepted payment card brands including MasterCard, Maestro and Cirrus and serves financial institutions, consumers and businesses in over 210 countries and territories. The MasterCard award-winning Priceless advertising campaign is now seen in 105 countries and in 48 languages, giving the MasterCard brand a truly global reach and scope. *Online omnibus survey questions commissioned by MasterCard International and conducted by Impulse Research Corporation's CyberPulse Survey This article provided courtesy of <a href=http://creditfederal.com target=_new>www.CreditFederal.com</a>, a personal credit resource of good or bad credit credit cards and loans.

Credit Tip: Need a high limit for Christmas credit card charges? If you have bad credit, consider a personal loan by refinancing your mortgage. Even if you have cash to buy Christmas presents, we recommend using a prepaid card to make purchases because it's safer than carrying cash.