Best Car Deal

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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Best Car Deal

By Credit Federal | Published 06/1/2008

Get the car, SUV or truck and an auto loan that's right for you. Read these tips before you visit a car dealership or apply for auto financing.

Must you get a new car? Think about buying a used car and lose less value. As soon as you leave a dealership, the value of a brand new car drops 30% or more. That means you'll be paying; or already paid, 30% or more than the car is now worth. For example; if you bought a brand new car and spent $25,000, chances are once you leave the dealership its value will drop to around $17,500. Of course, if you keep the car for at least 5 years your loss isn't as bad.

A used car, SUV or truck around 2 or 3 years old, in good condition and with low mileage, may be the best deal, especially if you can get it directly from the owner instead of through a dealership that will tack on their overhead. Be sure to check the blue book value of the vehicle. For the best deal, get an auto loan as close to the vehicle's value as possible. That way should you decide to sell it, you can sell it for what it's worth and what you owe/paid on the vehicle and you can come out even.

Check the fuel tank instead of only kicking the tires. Too many people get wrapped up with cup holders, CD players and other extras that they neglect the most important: Safety and Fuel Economy. Give some consideration to hybrid vehicles, even though some hybrids cost considerably more than purely gasoline models.

Weigh insurance costs: As mentioned in the last tip, consider safety because safer cars usually cost less to insure.

Beware of low cost lease deals that can end up costing you dearly if you drive more than the allotted mileage.

Improve credit before submitting an auto loan application. Why pay for credit report errors? Check your credit report and fix errors or take care of problems that can boost your score. The better your score, the lower interest rate you'll get and the more money you'll save.

You better shop around. Not only do you want to compare the same vehicles at several dealerships, you also want to shop around for financing, too. Use our auto loan lender resources to get your quotes now. Also, if you get a loan before you negotiate with a car salesman, you can use the check as leverage and give the salesman a 'take it or leave it' ultimatum. When a salesman sees you have financing already in hand, he'll be even more eager to sell you the car and at a better deal.

If you want dealer financing, at least have a good auto loan downpayment (try for 20%). Not only does a big downpayment lower your monthly notes, but it also helps you save money by paying less interests. If you take out a huge loan (large amount to be financed), your first couple years of monthly payments will go predominately to interest charges. Otherwise, should you decide to sell your vehicle while you are still making payments, you'll owe more than you can sell the vehicle for.

If you have a vehicle to trade-in, get it showroom ready. Shine it up, clean the carpet and upholstery. The difference between a trade-in that looks well cared for versus one that looks neglected can be thousands of dollars. And if you still owe money on your trade-in, make sure you can get enough to pay off the loan. Don't roll the balance into the loan on your new car.

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Best Car Deal - by <a href=http://creditfederal.com>CreditFederal.com</a> <div style="text-align: left; font-family: Verdana;">Get the car, SUV or truck and an <a href="http://creditfederal.com/auto-loan.html">auto loan</a> that's right for you. Read these tips before you visit a <a href="http://creditfederal.com/car-dealership-loan.html">car dealership</a> or apply for auto financing. Must you get a new car? Think about buying a <a href="http://creditfederal.com/used-auto-loan.html">used car</a> and lose less value. As soon as you leave a dealership, the value of a brand new car drops 30% or more. That means you'll be paying; or already paid, 30% or more than the car is now worth. For example; if you bought a brand new car and spent $25,000, chances are once you leave the dealership its value will drop to around $17,500. Of course, if you keep the car for at least 5 years your loss isn't as bad. A used car, SUV or truck around 2 or 3 years old, in good condition and with low mileage, may be the best deal, especially if you can get it directly from the owner instead of through a dealership that will tack on their overhead. Be sure to check the blue book value of the vehicle. For the best deal, get an auto loan as close to the vehicle's value as possible. That way should you decide to sell it, you can sell it for what it's worth and what you owe/paid on the vehicle and you can come out even. Check the fuel tank instead of only kicking the tires. Too many people get wrapped up with cup holders, CD players and other extras that they neglect the most important: Safety and Fuel Economy. Give some consideration to hybrid vehicles, even though some hybrids cost considerably more than purely gasoline models. Weigh <a href="http://creditfederal.com/insurance.html">insurance</a> costs: As mentioned in the last tip, consider safety because safer cars usually cost less to insure. Beware of low cost lease deals that can end up costing you dearly if you drive more than the allotted mileage. Improve credit before submitting an auto loan application. Why pay for <a href="http://creditfederal.com/credit-report-errors.html">credit report errors</a>? Check your credit report and <a href="http://creditfederal.com/fix-credit-report.html">fix errors</a> or take care of problems that can boost your score. The better your score, the lower <a href="http://creditfederal.com/interest-rates.html">interest rate</a> you'll get and the more money you'll save. You better shop around. Not only do you want to compare the same vehicles at several dealerships, you also want to shop around for financing, too. Use our auto loan lender resources to get your quotes now. Also, if you get a loan before you negotiate with a car salesman, you can use the check as leverage and give the salesman a 'take it or leave it' ultimatum. When a salesman sees you have financing already in hand, he'll be even more eager to sell you the car and at a better deal. If you want dealer financing, at least have a good auto loan downpayment (try for 20%). Not only does a big downpayment lower your monthly notes, but it also helps you save money by paying less interests. If you take out a huge loan (large amount to be financed), your first couple years of monthly payments will go predominately to interest charges. Otherwise, should you decide to sell your vehicle while you are still making payments, you'll owe more than you can sell the vehicle for. If you have a vehicle to trade-in, get it showroom ready. Shine it up, clean the carpet and upholstery. The difference between a trade-in that looks well cared for versus one that looks neglected can be thousands of dollars. And if you still owe money on your trade-in, make sure you can get enough to pay off the loan. Don't roll the balance into the loan on your new car. </div> 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.