February 9th, 2010 ccblogger
Americans live off of credit cards. Reward credit cards have become extremely popular in the past few years. If you want to get the most out of your credit card experience, you need to make sure that you have the necessary tools in your wallet.
Of course we are talking about the necessary financial tools. After all, what sense does it make to use a credit card if it isn’t going to do you any good? You might be using your old credit card because you have an amazing rate or incredible terms and conditions. What you probably don’t realize is that you can easily get the same benefits plus much, much more.
Imagine taking advantage low rates, outstanding terms, non-existent fees, AND rewards. This is all extremely possible with a credit card from Capital One. Capital One credit cards come with everything you could possible wish for in a credit card. You can even design your own card and put any picture you’d like on it.
Capital One credit cards are not specifically geared toward any particular consumer group. Capital One has credit cards tailored for everyone. These include people with excellent credit, average credit and more. You can choose from many different credit card types as well. These include travel reward credit cards, cash back credit cards, reward credit cards that allow you to accumulate points and then redeem those points for great stuff, etc.
Capital One gives you, the consumer, more options and choices than any other credit card company. These credit cards are accepted everywhere. Why not take advantage of extra rewards when you are already using a credit card for your everyday purchases? It’s time to get a little something extra. It’s time to make sure you have the necessary financial tools to assist you and your family, especially in today’s economy. It’s time to get a Capital One card.
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February 23rd, 2009 Admin
Marketing to Students?
Think back to when you were in college. Do you remember all of the credit card offers you received? Credit card companies spend millions of dollars targeting college students. Why? Because these students don’t always know how to use credit cards responsibly and can end up paying a great deal in interest payments.
Plus, these students will have good jobs and be in their careers in a couple of years. So, why not let students rack up credit card debt and then nail them in interest charges once they are finally in a career?
Many students don’t realize that their colleges and universities are helping the credit card companies. Not them. Many colleges and universities actually sell student contact information. Some institutions even give contact information to credit card companies. All of this is always done without any consent from the student.
Florida has already begun discussion about prohibiting these actions. A Republican lawmaker from Florida, Carey Baker, brought the item to the table. He has worked closely with The Consumer Warning Network to expose higher-education institutions and credit card companies.
In July of 2008, The Consumer Warning Network showed us just how dangerous things have gotten. It reported that some colleges/universities “pocket” a portion of the proceeds every time a student applies for or qualifies for a credit card. It also exposed exclusive marketing schemes from Bank of America to college students.
Now, lawmakers are extremely interested in what the relationship is between credit card companies and institutions of higher learning.
Carey Baker has proposed new legislation that would prohibit these practices. His bill would completely prohibit any college or university (public or private) from working with credit card companies. These institutions would now be prohibited from “offering or facilitating the marketing of credit cards to undergraduate students.”
This would be welcome legislation. Instead of helping credit card companies, maybe colleges and universities would take a more active role in educating undergraduate students about the proper ways to use credit cards. After all, the students of today will be the financial and economical leaders of tomorrow.
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November 10th, 2008 Admin
A Little Less Credit Card Junk Mail
What is the number one marketing tactic for credit card companies? Credit card mail offers… otherwise known to you and me as ‘junk mail’. Well, I have good news for you. You are going to receive a lot less junk mail in the coming months.
In general, marketers are beginning to think twice about mail offers. These marketers don’t seem to think that bombarding you with what you term as ‘junk mail’ is worth it. It is projected that credit card companies will be cutting these mail offers by one billion by the end of the year. Home-equity mailings have been the first to be cut. New statistics from the 2008 third quarter give us a glimpse at how drastic these cut backs are.
There was a significant 66 percent decrease in home-equity credit mailings in the third quarter alone. During the same period last year, credit companies sent out 215 million home-equity credit mailings. This year, only 72.9 million were went out. Last year, 324.1 million mortgage mailings were sent out. This year, only 182.4 million were sent (that is 44 percent less than in 2007).
Which institutions are cutting back the most? Charles Schwab and Citibank. Charles Schwab sent out 95 percent fewer credit offers while Citibank cut their mailers by 98 percent. Even Bank of America and HSBC are joining in on the new trend. Bank of America sent out 49 percent fewer unsolicited offers and HSBC sent out 44 percent less.
So, why the change of heart all of a sudden? Credit card companies, mortgage lenders and other institutions have been hit hard by the recent economic collapse. Institutions, such as these, are realizing that people with good credit don’t need and aren’t going to apply for another (or two or three more) credit card(s).
Maybe this financial crisis isn’t as bad as everyone makes it out to be? Well, maybe not. But, at least you will be getting fewer credit card offers in the mail. That is sure to make this last quarter, or holiday season, one to remember.
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November 7th, 2008 Admin
Tis the season to use your credit card! What better time of year than the holiday season to build credit, gain rewards, and take advantage of the convenience of your credit card. As you embark on this year’s gift giving keep in mind that by simply using your credit card to purchase those gifts you can earn that much needed cash back or those vacation points for your winter getaway, and do it all with out the usual hassle of waiting a check or keeping your debit account stocked.
Many retail stores and also online businesses have made it just as convenient to use your card as it is to just use cash, so dust off that credit card and be the smart shopper by using it for all of your holiday needs. Some retail stores even offer added incentive to use your credit card such as an additional percentage off your balance or even a free gift at purchase. If you already have that Christmas fund ready and waiting for your holiday spending then keep it safely stored in your bank account until the season comes to an end, then use that cash to pay off your holiday tab and wa-la! You’ve just earned yourself your own personal reward (whatever your credit card offers) for being a smart consumer. It’s that easy!
In case you haven’t found enough reason to shop with your credit card this holiday season, another benefit is that by doing so you will automatically have an itemized reference to refer to all year long; the general amount you need saved for the next year of holiday shopping, a reminder of the stores you shopped, and also a reminder of those rewards you earned!
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September 23rd, 2008 Admin
The Secret Behind Credit Card Offers
If you are like me, you get at least two credit card offers in the mail every day. I know that I seem to get the same credit card offer over and over and over again. I typically shred these offers as soon as I get them. Why? Because I know the secret behind credit card offers.
Are you ready to know the secret? Are you sure you can handle it? OK, here goes. Don’t accept credit card offers from the credit card company itself. That may sound a little backwards to you. How else are you supposed to get a credit card if you don’t accept the offer from the credit card company? Use a credit card comparison site.
Credit card comparison websites are unaffiliated with any one particular credit card company. This means, you can find all the answers you need without getting biased reviews. These companies are there to give you all the answers you are looking for. Each company provides comparison charts where you can narrow down your search for the perfect credit card. My favorite site actually lets you choose several cards and puts each specification side-by-side. This is so helpful because you can compare everything from interest rates, to late fees, to annual payments, to rewards, etc.
Choosing the right credit card can be a difficult decision. Every card is different, just like every person or family is different. Don’t just accept the first credit card offer that comes your way. By doing this, chances are you are signing up for a card that won’t benefit you as much as another card will. Go to these credit card comparison websites to compare each card. Credit card comparison websites offer unbiased reviews of each card. You can be sure to get all the information you need before accepting your credit card offer. The secret behind credit card offers isn’t too much of a secret. All you have to do is do your homework, by going to a credit card comparison website, before choosing your next credit card.
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