Credit Cards for the Holidays
Can you believe that it is already November? The holidays
are right around the corner. Whether you celebrate Christmas,
Hanukkah, or Festivus, your holiday plans probably will
include some increased spending. Is your credit ready?
Apply for a new credit account online today and you could
receive the card before Thanksgiving. Opening a new card
can increase your borrowing power and might even boost
your credit score. We consulted Credit.com's resident
credit card expert, Shannon, for her favorite credit
card picks:
Rewards Credit Cards - Borrowers with good
to excellent credit scores can open a rewards card and earn
points for their holiday spending. Shannon has two picks
in this category: HSBC Cash or Fly and Chase Perfect Card.
The
HSBC
Cash or Fly Card
gives you the option of choosing your rewards in cash or
air travel miles and has a low APR.
The
Chase
Perfect Card
gives an amazing "6-3-1" deal: 6% rebates on all
gas purchases at any gas station for the first 90 days,
3% rebates on all gas purchases at any gas station after
the first 90 days and 1% rebates on all other purchases
made anywhere. All this plus a 0% introductory rate and
no annual fee.
Cards for Fair Credit - Borrowers with
fair credit scores can apply for the
Capital
One Platinum Card. "This is a great option for fair credit because it
has a low annual fee of $19, a low APR, and extended warranties
on purchases," says Shannon.
0% Introductory Rate Card - Shannon says:
"My best pick is
Blue
from American Express. Why? It has the longest 0% intro period, 15 months!" And
this card offers 4.99% fixed APR for balance transfers.
You'll need a great credit score for this very rewarding
credit card.
Secured Credit Cards - Shannon's favorite
secured card is
Orchard
Bank Secured MasterCard. "Orchard Bank is owned by HSBC, a reputable credit
card company. This card has the lowest minimum security
deposit, $200, low fees, and friendly customer service." Using
a secured credit card responsibly is an excellent way to
re-establish your credit.
Credit Rebuilding Cards - Again, Orchard
Bank nabs Shannon's top spot with the
Orchard
Bank Silver MasterCard. This unsecured credit card boasts a lower interest rate,
reporting to all three credit bureaus, and regular credit
limit increases to help rebuild credit scores. It's a great
card for borrowers struggling with credit issues.
Best Philanthropy Cards - This is the season
of giving, after all! Bank of America offers two credit
cards that make donations to worthy causes. The
Make-A-Wish
Visa Card
supports the Make-A-Wish Foundation with every purchase.
Also through Bank of America is the
Anne
Geddes Visa Platinum. Shannon says: "A percentage of every purchase is
donated to the non-profit Geddes Philanthropic Trust at
no extra cost to the consumer."
You can browse more credit card offers online at
Credit.com. Happy hunting!
Quote of the Month
Thanksgiving dinners take eighteen hours to prepare. They
are consumed in twelve minutes. Half-times take twelve
minutes. This is not coincidence.
- Erma Bombeck
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