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Credit Card Deals For Demanding Public
[10/26/2007]
Do you live in Canada? Do you travel to Canada? Do you spend money in Canada? If you gave a positive answer for at least one of these questions you need a Canadian credit card.
No doubt that nowadays credit cards are an absolutely necessary financial tool. They became an integral part of Canadian lifestyle. For years and years plastic money has been popular for a number of reasons. Simplicity, safety and convenience. It has been estimated that an average Canadian has 2 credit cards compared with 4 cards that a typical American possesses.
There are several curious facts about Canadian credit cardholders. According to Canadian Bankers Association - the main representative body of banks in Canada - Canadians use their credit cards wisely. This means that:
- approximately 70% of Canadians pay off their credit card monthly balance regularly. This means that Canadians pay little interest or even no interest at all;
- those who do carry a balance, pay off 25%-35% of the total amount of debt. Not just the minimum.
When talking about Canadian financial products in general and credit cards in particular it is important to note, that Canadian credit card market is the most competitive in the world. There are approximately 5200 financial institutions that offer different products and services. For Canadians this means that a vast variety of financial products, among them credit card deals, are offered at very competitive prices.
Well, it is always not so easy to please demanding public, but quite possible. There are many good credit card offers and among them there is American Express Air Miles Credit Card. With more than 150 years of operation on Canadian market, AmEx is a leading provider of travel related services. For a number of reasons Air Miles card can be a good option.
- First of all, it is a rewards card with no annual fee. You will earn 100 free miles with the first purchase and then for every $20 you will get 1 free mile.
- Secondly, it is a good card for balance transfers for it has an introductory period of six months with APR of 3.99%.
- Thirdly, the credit limit can be as high as $75000. The necessary personal income should be no less than $15000.
- And finally, this plastic allows you to make purchases in order to collect miles in more than 9600 locations all over Canada. Is not that a really beneficial deal?
Though, there is one disadvantage that you should be aware of. Annual percentage rate for purchases is 18.5% which is quite high. But if you do not carry balance this is not going to matter a lot. Anyway, one of the rewards credit cards' rules is that you should try to never carry a balance. Otherwise the interest rate will wipe out all rewards.
Using wisely any credit card will help you to make a good credit score and to get maximum benefits. That is why it is important to know your rights and responsibilities.
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News about Credit Cards |
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The economic recession affected not just financial sphere, it also affected politics, and even education. The US government hurled pretty much all effort into surmounting the crisis and restoring the economic sector. Other sectors are paid less attention at the moment. But New York State Authorities try to control all sectors and departments and react to the emerging problems on time.
The Governor of New York David A. Paterson announced the upcoming launch of a low-cost student loan program created to help 45,000 students of public and private colleges in New York State cope with tuition increases and secure credit. The final version of the program is still being discussed. But its appearance is just a matter of time.
As the financial crisis keeps raging, banks and credit companies are incurring more losses and desperately trying to get back on track. The governmental financial rescue programs do not seem to bring the banking sector any significant relief so far. And banks try to handle problems on their own.
No secret and no credit card news to anyone that in the attempts to make it up for the losses, banks raise interest rates on loans, cut credit lines, charge higher fees and tighten lending standards. Business loans, mortgages and credit cards became harder to qualify for. The latest quarterly survey conducted by the Federal Reserve shows that banks have tightened standards even more over the past three months.
The US economy slowdown and credit crisis have had American consumers by the leg. Everyone tries to deal with this difficult situation in their own way. Some people do their best to pay off credit card outstanding balances as soon as possible, so they do not accumulate additional interest. Some consumers try to reduce their plastics use frequency. Others just give up paying with credit cards.
According to the results of the recent survey, about 10% of American credit consumers have been spotted taking out cash advances on their plastics more often than in the past. High balances, as the survey showed, have become a heavy burden for cardholders. Who can save the situation? Americans anchor their hopes on the future President. Who they find the best candidate to fix the US economy?




I own an american express air miles credit card. It has no annual fee and gives you all those rewards. I'm absolutely happy about my card.