Balance Transfer: Is it really attractive?

When in difficult times you are short of means to pay for your credit card bills, paying minimum would give you a breather. Though it may not save you from finding a concrete solution for paying your credit card debt. And soon you may be under a debt trap. On the contrary assuming that paying minimum is a good option, is like digging one's own grave.

Card issuers such as American Express have started taking a closer look at the math that determines how much credit is available to each customer, and some are cutting their credit lines to keep more money in house. Card issuers want to keep default rates as low as possible to protect their profits.

Using your debit card for making payments is more secure than the credit card.
Debit card gives you relief from the tension that comes to you when your credit card billing dates get closer. You did your shopping with credit card & when the time comes to make the payment, you found yourself with no money left in your Bank account.

Tough to get a Credit from Bank’s

Working for a finance company or are on the rolls of an airline or small-time realtor and want a new credit card ? Chances are you may not get one. Banks are summarily rejecting credit card applications from people working in these sectors, as the deteriorating financial health of their industries and the economic downturn makes them less credit worthy.