Credit cards - Information and Resources to help you achieve a healthier financial lifestyle.

Credit cards are considered one of the greatest inventions of the modern era. They simply have changed the way people spend. A credit card gives you the advantage of spending even when you do not have cash at that moment. It gives you the feel of power and the confidence that you have something to fall back on at the time of a temporary financial crisis.

There are various types of credit cards - low interest credit cards, student credit cards, cash back credit cards, balance transfer credit cards and 0% APR credit cards. There is so much that the credit card companies offer to their clients. All these benefits, of course come at a price. You are allowed free usage of money for a limited period within which you are to repay the money you enjoyed. If you do not pay the entire money, you would be charged interest on the unpaid balance.

Suppose, you have a savings account in a bank which earns you 4 per cent per annum interest on your deposit; and you spend $1500 a month through your credit card. The $1500 remains in your account for an additional month. At the end of the year you will earn an additional interest on that amount. With credit cards you can hold on to your money.

Your credit card statement helps you maintain a record of your spending, so that you know where all your income is being spent. This way you can keep track of your financial position.

Whenever, you use a credit card for spending you know that you are living on credit, and will have to repay the amount on a specified date to avoid paying interest. So, you take care that you do not over-spend on your card. Credit cards teach you the habit of being prudent and responsible.

Credit cards also offer various reward programs such cash-back, discount on various services and purchases, frequent flyer miles and more, which in real terms can save a lot of money to frequent credit card users. This electronic money transfer technology has brought an enormous amount of ease in the entire proceedings of transactions. You can easily purchase several household or luxury goods on the internet with the help of your credit card and can get them delivered at your home conveniently. Also there is no need for you to rush to the ATM to get the cash.

Safety of your money is a very important feature of credit cards. Credit cards do away with your need to carry loads of cash when you are making heavy purchases. If your credit card gets stolen, you need not worry on its being misused. All you need to do is inform the concerned company over the telephone and they will take the necessary measures to prevent its misuse.

Financial News Headlines

Dacia-Renault workers in Romania plan strike
BUCHAREST (AFP) - Dacia-Renault factory workers in Romania plan to strike Monday following failed negotiations for salary increases, the company's management said Saturday.

Insatiable investment funds in hot pursuit of huge prey
WASHINGTON (AFP) - The widely anticipated takeover of a Texas energy giant by Texas Pacific Group and Kohlberg Kravis Roberts for more than 30 billion dollars, likely to be announced Sunday, showcases the insatiable appetite and deep pockets of private investment funds.

Yen in the firing line at eurozone finance ministers meet
BRUSSELS (AFP) - Finance ministers from the 13 countries sharing the euro were due on Monday take stock of growth in their combined economy amid concerns that the yen's weakness is hurting their exports.

Romanian miners witness slow death of the Jiu valley
LUPENI, Romania (AFP) - The rattling lift stops with a screech as a dozen men appear out of the semi-darkness. "If I found another job, I would leave tomorrow," says Viorel, one of 2,500 miners in Lupeni in southern Romania.

Exports grow as French wine fights back against New World
PARIS (AFP) - French winemakers are beginning to claw back their dominance of the global wine market after years of problems in responding to innovation from the New World.

EU antitrust watchdog silences 'pussy cat' criticism by baring teeth
BRUSSELS (AFP) - Shortly after taking office as Europe's top competition watchdog in November 2004, Neelie Kroes vowed in the face of detractors that she would not be the "pussy cat" of big business.

Libya takes cautious steps to modernise banking
TRIPOLI (AFP) - Thirty years after officially proclaiming itself socialist, Libya is gradually opening up its banking system with a string of privatisations in the works and the establishment of foreign banks.

Bras push up Sri Lanka's lingerie hopes
BIYAGAMA, Sri Lanka (AFP) - For some engineers in this Sri Lankan industrial town, making women happy is their main job -- they design sexy bras which are comfortable too.

Thai PM defends economic policies
KUALA LUMPUR (AFP) - Thailand's military-installed premier has defended a series of shifts in the country's economic policies, saying investor confidence will not be undermined in the kingdom, state media reported Sunday.

Japan's household assets can boost economy: Fukui
TOKYO (AFP) - Bank of Japan Governor Toshihiko Fukui said Sunday that the Japanese economy can grow at a faster pace if the nation's ample household assets shift to riskier investment, reports said.