The popularity of retail cards has surely risen over recent years, and not without any good reason. They offer customers with numerous advantages and money-saving options. Store cards are usually considered to be a good way to build your credit history. Since it has low merchant risk, they are much easier to obtain if you do not have a credit history, or if you do not have a particularly good one. Often there are a number of special deals that do the rounds, especially during holiday seasons. Deals such as no-interest and shopping passes can really help in cutting back those costs and yet allowing you to shop freely for gifts for your family and friends!
The advent and rise of store cards has benefited a number of consumers. However, though the benefits sound attractive, there are often hidden cons that customers should be aware of. These cards usually have a much higher interest rate; hence, if you are not careful about paying off your balance on time, this could really cost you. In addition, retailers have the right to remove some privileges or even charge extra penalty fees if you do not meet the terms of the retail card. Hence, your gains can actually turn into huge losses if you are not vigilant about these issues of a retail card.
If you travel abroad regularly, it is far convenient to use credit cards or other forms of plastic for your travel expenses. Carrying cash always has come with the danger of it being stolen or lost, and traveler checks usually incur transaction costs. This is usually the case, however, travelers should be aware of the fact that banks have started targeting these foreign travelers for additional fees and surcharges to make up for the new card rules that are squeezing the banks profit margins. Hence, travelers should keep an eye on such foreign transaction fees before traveling, and hence, choose the best method to meet their travel expenses.
But, let us take a look at card history too
The earliest use of the term ‘Card’ can be found in Edward Bellamy’s utopian novel ‘Looking Backward’ way back in 1887. This forward thinking novelist mentions this term eleven times in his book. In this novel, Bellamy proposes an economic system devoid of paper or any other form of physical money. Although the working of Bellamy’s card is very different from the current form, the concept of maintaining a credit with a central authority and using this credit to buy goods was first introduced by him. And for this, Bellamy takes all the credit for coining the term card.
Bellamy’s Credit card system
In 1887, Utopian novelist Edward Bellamy proposed an economic system that did away with paper money as we know it. In this system, Bellamy proposed that at the beginning of the financial year each citizen be allocated his share of the national annual product. In today’s world, this would mean allocating the per capita income or perhaps a portion of the GDP. This amount would be credited to the person’s card, which the person would use to buy goods as and when required. All services would be offered towards the state or country and would not be charged to individuals. This system promoted equality of all individuals and vocations, while today’s cards divide individuals based on credit limits that are fixed as per the individual’s net worth.
Divorce can mean many things, one of which is lifestyle change. While it may seem easy to be granted all of these retail store cards make sure you read the fine print, and only get those that are right for you and your current situation. Never get outside of your financial budget.
#1 Comment vom 14. March 2012 um 10:19 pm