How Credit Cards Can Protect You
Using credit cards can strengthen your personal protection. While appearing to be the same, there are significant differences between credit cards and debit cards. A big Caveat…
However, this strategy does come with a big caveat.
* If you have the discipline to pay off your balance each month, then this strategy is for you.
* If you’re prone to over-spending and need to limit temptation, this may not be the best strategy.
Only you can decide… it’s your money.
It comes down to liability and control. About credit cards…
If you lose a credit card, your liability is limited to $50 and you have 60 days to make a written claim to your card company.
With a credit card, you’re using OPM or other people’s money to make purchases. At the end of the billing period, you receive a statement and pay back the lender.
The card company makes money from this service by 1) charging you interest on any outstanding balance, and/or 2) annual and other fees.
When you use your card, you’re increasing the amount of control you have over a specific transaction.
For instance, if you have a dispute with a merchant. You may choose to call your card company and tell them not to pay the merchant and to remove the charge from your account.
In many cases, the card companies will withhold reimbursing the merchant until the matter has been resolved.
At no time was your money at risk until you were satisfied with the outcome. The merchant however, was pressured to resolve it to your (and the credit card company’s) satisfaction so he could get paid. What about debit cards…
With debit cards, the limit of your liability goes from $50 the first two days it’s lost, to $500 up to 60 days from being lost, then your liability is limited by your account balance.
With a debit card, the money is taken out of your account within 1-2 days, and sent directly to the merchant. If you have a dispute, the merchant is less motivated to help you because he already has your money.
He’s in the power position and controlling your money while you try to resolve this issue. You have to be careful not to upset him too much or he’ll just keep your money and write you off as a customer.
Final Note: If you can, use your credit card as much as possible. For those a little nervous about this, when you get home from purchasing something, immediately transfer that amount of money to your credit card company or another account you use exclusively to pay your credit card bills.
About the Author: David Koons How do protect those you care about? Discover the “2 Factors Essential To Your Personal Safety” and learn the simple steps you can take immediately to protect and, if necessary, defend against any threat. David Koons is an expert in self defense, personal protection strategies and former member of an elite military special forces unit. Lean more and discover the 2 Factors here: http://protectanddefendinc.comDon’t Swipe Recklessly During the Holiday Season!
When November rolls around every year, stores begin advertising like crazy, and people start getting in the mood to shop. Just about everyone has a list of people for whom gifts must be purchased, and the only way to accomplish this is obviously to spend money. Unfortunately, many people see the holiday season as a good excuse to put all purchases and expenses on a credit card because they don’t have enough cash on hand to pay for everything all at once.
The holiday season, however, is no reason to rack up credit card bills that can’t be paid. Using some smart shopping tips and other creative ideas can help prevent a person from spending too much money that they don’t have.
As long as the holiday season is celebrated in moderation each year, people can rest assured that credit card debt will not haunt them for the rest of their lives. This is in no way saying that credit cards are not useful tools and should not be used while shopping. It is, however, saying that credit cards should not be abused during November and December each year.
It’s very easy to go to a shopping mall and want to buy everything that is seen on the shelves. With a credit card, it’s easy to over-buy things that aren’t really needed, because using plastic to buy things doesn’t always seem like real money is being spent. At times, credit card spending can get out of control very easily. To help curb this, a list of what needs to be bought on a shopping trip should be written before arriving. Once there, even though things are tempting, only items on the list should be purchased.
Another useful tip when it comes to using a credit card while shopping for gifts next holiday season is to write down everything that was purchased using the card. Making a list (and checking it twice!) will allow the credit card holder to keep track of how much was charged, and how large the bill will be at the end of the month. Many people are shocked when they receive their credit card statements in January of each year, because they are unaware that they charged so much during the months of November and December.
Something to keep in mind each holiday season is the fact that “more expensive” doesn’t always mean “better” when it comes to gifts. Many people would much rather receive a homemade gift, a home-cooked meal, or something small as opposed to an expensive items that may not even be liked or enjoyed by the recipient. Using creativity and the imagination when choosing gifts can do at least two things… be perceived as extremely thoughtful by the gift’s recipient, and also save money.
A fancy meal at a restaurant on Thanksgiving, the week of Christmas, or on New Year’s Eve is always fun. However, once it’s over… it’s over. And, when the meal which was eaten is paid for with a credit card, it’s sure to give a person an upset stomach when the credit card bill arrives a month later. Seeing a charge of several hundred dollars on a statement for food that was consumed, digested, and expelled a month ago can be upsetting. So, instead of eating out, consider having a low-key pot-luck dinner in the home. Guests may even enjoy this venue more than a crowded restaurant.
Using a credit card is definitely safer than carrying a huge amount of cash in a purse or a pocket while shopping during the holiday season. With a credit card, it if is lost or stolen, it can be reported immediately and the card can be deactivated. Also, it’s quicker and more time-efficient to swipe a credit card in a machine than take five minutes to write a check for a purchase. So, as long as spending can be kept under control and gift buying is kept to a minimum, using a credit card can be a smart choice in November and December of each year.
About the Author: Glen Singleton. To read about spoonbill catfish and jugging for catfish, visit the Types Of Catfish site.
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