Free Credit Report Monitoring

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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Free Credit Report Monitoring

By Credit Federal | Published 06/9/2008

TransUnion will soon begin providing eligible U.S. consumers up to nine months of free credit report monitoring and related services.

The free credit report monitoring services offered by Equifax is part of a preliminary settlement of a lawsuit that claims TransUnion violated state laws and the Fair Credit Reporting Act (FCRA) when they sold certain marketing lists. According to TransUnion, the free credit report monitoring is consistent with their commitment to providing consumers with tools and resources that empower them to actively manage their credit health.

"We understand that many consumers are concerned about privacy and hope that this settlement demonstrates our commitment to empowering consumers to better understand, manage and protect their credit information," said Colleen Ryan, vice president of corporate and community affairs for TransUnion.

Who's eligible for the free credit report service: All individuals who had an open credit account or an open line of credit from a credit grantor (for example, an auto loan, credit card, store charge card, mortgage loan, etc) and who resided in the United States anytime from January 1, 1987 to May 28, 2008. To receive credit monitoring and related services from the settlement, go to listclassaction.com. The settlement administrator expects to have this site accessible to the public no later than June 16, 2008.

"TransUnion is committed to providing consumers with tools and services that empower them to manage their own credit health," said Ryan. "The services offered through this settlement complement our many consumer empowering initiatives. These include:

Providing the resources consumers need to make educated decisions regarding their credit
Becoming the only major credit bureau to provide consumers with access to live operators who can help answer their questions
Being the first to announce that consumers concerned about identity theft can freeze their credit file in all 50 states
Partnering with programs like Operation Hope to help inner city families learn how to build and manage their finances

"The bottom line is that TransUnion is a company based on integrity and there has been no finding that any law was violated," said Ryan. "As a company, we are very pleased with this settlement that entitles so many consumers to these beneficial services."

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Free Credit Report Monitoring - by <a href=http://creditfederal.com>CreditFederal.com</a> <div style="text-align: left; font-family: Verdana;"><a href="http://creditfederal.com/search/search.cgi?Terms=transunion">TransUnion</a> will soon begin providing eligible U.S. consumers up to nine months of free credit report monitoring and related services. The <a href="http://creditfederal.com/free-credit-report.html">free credit report</a> monitoring services offered by Equifax is part of a preliminary settlement of a lawsuit that claims TransUnion violated state laws and the Fair Credit Reporting Act (FCRA) when they sold certain marketing lists. According to TransUnion, the free credit report monitoring is consistent with their commitment to providing consumers with tools and resources that empower them to actively manage their credit health. "We understand that many consumers are concerned about privacy and hope that this settlement demonstrates our commitment to empowering consumers to better understand, manage and protect their credit information," said Colleen Ryan, vice president of corporate and community affairs for TransUnion. Who's eligible for the free credit report service: All individuals who had an open credit account or an open line of credit from a credit grantor (for example, an auto loan, credit card, store charge card, mortgage loan, etc) and who resided in the United States anytime from January 1, 1987 to May 28, 2008. To receive credit monitoring and related services from the settlement, go to listclassaction.com. The settlement administrator expects to have this site accessible to the public no later than June 16, 2008. "TransUnion is committed to providing consumers with tools and services that empower them to manage their own credit health," said Ryan. "The services offered through this settlement complement our many consumer empowering initiatives. These include: <ul><li>Providing the resources consumers need to make educated decisions regarding their credit</li><li>Becoming the only major credit bureau to provide consumers with access to live operators who can help answer their questions</li><li>Being the first to announce that consumers concerned about identity theft can freeze their credit file in all 50 states</li><li>Partnering with programs like Operation Hope to help inner city families learn how to build and manage their finances</li></ul> "The bottom line is that TransUnion is a company based on integrity and there has been no finding that any law was violated," said Ryan. "As a company, we are very pleased with this settlement that entitles so many consumers to these beneficial services." </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.