Credit card ? Credit score and benefits

Regarding credit score, it is all simply essential if you think staying with US. is used to everything. If you don't, you will not be able to have credit (there still need a credit at one time where to another) or so at a prohibitive rate. You pay a security deposit for your phone, gas, electricity, etc. And most importantly, the owners often check before accepting a nomination to the rental, as well as a lot of potential employers (eh Yes).
Rest to know how to build one without falling into the trap of credit cards at prohibitive rates... as I understand it, the best is to have a credit card (possibly with a security deposit which will also be your credit limit), do not spend more than 30% of this limit, and pay the balance on the card every month (all(, otherwise it is useless). I have a lot of links on the topic, to me, I will give later.

Credit card ? Credit score and benefits

If not for the banks... actually manage transfers between an en account and one account US you will still cost in foreign exchange commission and international transfer fees. For my part I will take either Passport in HSBC, but because I am already client at home.

Now, I don't know your situation, but here's what I intend to do:
-Keep my pennies in France and do my shopping with my French CB Visa US: no commission, no additional fees.
-The time to exhaust my reservations, I'll normally hit my first wages in the US and will therefore be able to start using this money.
Clearly, I intend to avoid transfers wherever possible. If I make one, I will try not to make as a wholesale rather than several small ones.

-Take a credit card with a low limit time to build myself a credit score, and use a debit card the rest of the time. I guess to do it without having to pay fees, I will go to see on the side of the Credit Unions rather than traditional banks.

The map of credit are not as in France Credit cards but said credit revolver.
To increase your credit score:

My views on the subject:
1. A debit card does not increase your credit score
2. Should you bank with the same institution for more than 4 years so it starts to play.
3 Take a Secure Card (you you ready auto a yourself)
4. If you have a credit card used only from 0 to 15% (I know mistike say 30% me I say 15%) and pay any tone at the end of the month.
5 Avoid car credit (considered bad credit)
6 Buy a housing and pay religiously
7. Do not close a credit card, guard active (meaning does not accept anything as a credit card)
8. always ask if a store offers a loyalty card if it is a credit card, I recommend to avoid store cards (if you are asked your social it is bad sign)

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How to Use your travel credit card ?

In general, the credit card is the cheapest payment method and practical abroad... as long as you use it wisely and some small rules of common sense.

Credit cards and not all international credit cards are reserved for those who have a well-stocked bank account. Of course, American Express or Diner's Club cards are designed for those who can prove income of at least €20,000 per year (and for the Gold or Platinum cards) much more. On the other hand, the international credit card Visa and Eurocard Mastercard are obtained with the simple agreement of your banker, without being imposed a minimum income.

The credit card has an advantage compared to traveller's cheques: you do not have to pay the systematic commission of 1% (or more) and the exchange rate is much better.

How to Use your travel credit card ?

Transaction fees
Since July 1, 2002, all withdrawals and purchases made in the countries of the Euro zone by holders of French banks are free or incur the same costs in France.
Outside the euro area, there are still costs that vary depending on the countries, currencies and banks.

Fill you with the bank issuing your card on charges levied by transaction (from 3 to 12 € per withdrawal) outside the euro area. This will prevent you from unpleasant surprises on your return. According to the Bank, these fees may vary from the simple to the triple.

How can we explain these costs? The bank issuing the species, and your bank, take each of the fixed costs (in general 3 €) and a variable (from 2 to 3%) commission in accordance with the currency. The purchase results in lower costs than liquid withdrawal of money from an ATM.

Good to know: some banks have networks partners in countries outside the euro area. If you withdraw money in one of their branches, costs are considerably reduced, or even zero.

In conclusion, it should be:
-avoid doing too much cash in the distributors outside the euro area,
-avoid small amounts because of commissions,
-preferred card from local merchants.

A know before you go
-The date of validity of your card: If the card expires during your holiday, you'll be short of money.
-The ceiling of expenditure (withdrawals and payments) weekly, in order to not get stuck on your holiday location: in general, 400 to 500 € withdrawal per week and 2 000 to 2 500 € of expenses per month (more for Gold cards). However, you can edit it, even from a distance (for a fee).
-Your account must be sufficient funds.
-The validity of the secret code.
-The acceptance of your international identity card in your country's holiday, as well as the presence of vending machines (ATMs).
The Mastercard ATM addresses
Visa ATM addresses
Amex ATM addresses
-Note the number 16 digits of your card and its expiration date, the telephone number of your bank as well as from the centre of opposition can be reached from abroad. Place it in a safe place or, better, scan and send in your mail box.

-Munissez‐vous the number of assistance your credit card, your Bank and/or the interbank number: for France 0892 705 705, accessible 24 hours a day. If you go abroad, remember the number provided by your bank depending on the country in which you are travelling.

Major cards emergency numbers:
-Eurocard MasterCard card allows its holder and his family (if she accompanied him) to benefit from assistance, medical repatriation. In case of problems, contact tel: 01-45-16-65-65.
More info on the Mastercard France site and list of Mastercard numbers for objection.
-For the Visa card, in case of theft, in France: green number: 0892 705 705. List of Visa numbers if you are abroad.
Where your country of destination does not appear in this list, call collect (Collect Call), the number of Visa in the United States: + 1 410 581 99 94.
-For the American Express card: If something goes wrong, tel: 01-47-77-72-00 (24 hours, 7 days a week).
-For the Diner's Club card: emergency number 0 810 314 159 (cost of a local call) or + 33 1 49 06 17 76 from abroad.

If something goes wrong
-The international card is not only an instrument of withdrawal or payment. It also provides certain guarantees in case of accident or incident to a stay abroad (theft, delay, lost luggage, repatriation etc.) set with this card.

-Loss or theft of your card: put your card in opposition, by phone (see numbers above). Report the loss or theft in a police station on-site. For Gold or Premier card holders, it is often possible to apply for a provisional card on-site that offers all the services of the original map, with the exception of cash withdrawals. According to the banks, you can also request a troubleshooting cash with your center of opposition.

Be vigilant
-Never throw your credit card slips: you might need as evidence.
-At the back, take the time to check your bank statements in order to detect any abnormal amount, purchase online or fraudulent withdrawal... If so, you have 70 days to make a written complaint to your bank, by registered letter with acknowledgement of receipt. The Bank will receive a period of 30 days for refund from the receipt of your file's challenge.
-Never leave eyes your card when you pay to a merchant, in a restaurant, a bar, a hotel...
-In case of payment with an "iron ironing", verify that the amount is correct and well bonded/fastened right into the boxes on the slip to sign (so that it does not zero the amount paid by you to add).

-Attention: in some countries (United States, Mexico...) credit card tickets are presented in the following way: a box at the top to register the price below another box to register the tip, and a third box to register the total. Remember to fill out or scratch the 2nd box and insert yourself the total in the third. Indeed, if you do not, the dishonest merchant will do it for you and will add of office an important tip.

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Get a credit card in the United States

Get a credit card in the United States
It is very difficult to obtain in the United States, without a credit card " credit history . " Arriving in the United States, you have no credit history because you never had a U.S. bank account or credit card American. The "credit history" is very important for everyone living in the United States. It serves as a reference for all loans (even simple consumer loans), credit cards or other purchases or rentals engaging your creditworthiness.
example, if you want to buy a car or take on lease, you ask the credit history ...

Get a credit card in the United States

We have selected for you one of the largest companies issuing credit cards and has nearly 34 million customers to its credit. It offers a credit card, open to those who have no "credit history" for U.S. $ 39 annual require a minimum deposit of only $ 99 and you can earn up to $ 2000 "credit".

How to get your card online?
Simply have your social security number to apply to American and a specialized agency.
We selected Capital One, a leader in managing credit card . They offer a card specifically tailored to people without any credit history. For more information and to register your card online, go to their website and follow the instructions for "secured card".

Want to know your credit history? The Internet offers many sites that will deliver an online "credit report." For Free credit reports

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Credit Cards Rewards in Quebec

Reward programs

Discounts on financial products, aircraft or cruises, free goods or cash tickets: you have a choice when it comes to related to a credit card reward programs. In the case of cash-back, from 0.5 to 2.5% of the total amount of your annual purchases returns at the end of the year. Otherwise, most financial institutions offer programs of House points. Only the Bank of Montreal and CIBC, respectively, offer of Air Miles and Aeroplan points. This may be interesting to take a credit card to the extent is already member of one or both of these clubs.

Credit Cards Rewards in Quebec

In all cases, it is estimated the amount of points required by the various financial institutions in exchange for our dream gift. For example, spend a dollar with our credit card reports a point the movement des caisses Desjardins, the Laurentian Bank and the Bank of Nova Scotia. But, in their respective catalogues, a toaster oven is 170 points, 17 points and 21 500 points! To find out if a reward program is worth, "Comparing the costs and interest paid on the value of gifts or received rebates", advises Véronique Milot. If you prefer the travel, we also check whether our points give right to any airline flights and if we can go when we see fit. But be careful not to choose a credit card only for its reward program. "You look as its interest rate, its annual fee and its credit limit", said Johanne Arnould. Be "addicted" to a reward program has perverse effects, added: "It is sometimes tempted to spend a few bucks just to get the points that we are missing to receive a gift or a trip".

The annual fee

Several standard card, gold and Platinum are available without fee. When this is not the case, the standard maps are generally from $ 15 to $ 35 and cards gold and Platinum, $ 50 to $ 100. Generally, a map is expensive, it includes benefits. To each to see if they are worth their weight in gold!

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The different credit cards used by Canadian

The different cards

Universal cards. Visa, American Express or MasterCard cards are the best-known. They are accepted almost everywhere. Sometimes, they are affiliated to a trade, such as Esso or Canadian Tire, where they are eligible for rebates or extra rewards. "This may be interesting for someone who is magazine, provided that the other conditions of the map, as the interest rates, also agree it," said Johanne Arnould.

The gold cards and Platinum. These range high credit cards provide more services than the standard so-called maps. Among other things, Concierge service by which "agents reserve seats at the restaurant of your choice or you indicate in which store find the gift you're looking for", said Danielle Coutlée, Director sales strategies and support to the RBC Royal Bank. Cards gold and Platinum include, more often than standard cards, travel insurance covering accidents and loss of luggage, for example. Handy if you travel. These prestige cards require a minimum annual income - sometimes as low as $15,000 per household. In addition, they often have a limit of minimum credit of $5,000 contrary to a limit of $ 500 to $ 1,000 for the standard maps. In short, these cards are an invitation to spend, or, for less conservative, to incur debt consumers.

The different credit cards used by Canadian

Affinity cards. With some universal credit cards, an amount is in addition to our purchases which is given to a charity, such as the Red Cross Canadian, Lions Club International, or Skate Canada. The Bank of Montreal is champion in this regard: its credit cards support about 150 associations! The intention is good, but is it really worth? "It is a fast and simple way to help a cause that hold you dear," said Jocelyne Daw, Vice President, marketing and community engagement at Imagine Canada, an organization that protects the interests of the charities. That said, the payments rarely exceed 0.5% of the amount of our purchases... or 50 cents for every $ 100! However, this chump change accumulates: thanks to the Allure of the National Bank of Canada map, for example, the Quebec breast cancer Foundation has received $415,000 in 2008. Only drawback for the consumer: "it is the Bank that receives the tax credit for these gifts. On the other hand, by donating in this way, it does not receive prospectus or information on the part of the organization is argues", said Jocelyne Daw.

Maps of the traders. Some stores, including the Bay or Home Depot, offer home credit cards. They are sometimes better than the universal credit card. First, they offer certain privileges, such as reward points additional and exclusive offers. "If these are the only places where you buy on credit, that keeps us from making impulsive purchases elsewhere", said Edith St-Hilaire, budget Advisor at the CASL Rive-Sud de Quebec. Attention, on the other hand, to the late payments: these cards interest rates reach 28.8% - or up to 67% higher than the universal credit card.

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The credit card limit and the interest rate in Canada

The interest rate

According to the ABC, 73% of Canadians repay the entire balance of their credit card each month. This is our case? You can ignore the interest rate - 9.9% or 28.8% - and choose our map depending on our preferences and the benefits it offers. If, on the other hand, it often leaves a balance on our map, was well advised to opt for a reduced interest, i.e. by 9.9% to 14.5% rate. The downside? These "cheaper" cards are often accompanied by annual fee. To find out if they are for us, "Comparing the amount of interest paid to the card annual fee", says Johanne Arnould, budget Advisor to the Association Cooperative of economies familiale (ACEF) North of Montreal. Cheaper, they will pay a balance of $500 with a card that has annual fees of $25 and an interest rate of 12% with a no-fee card, but a 19% interest rate. At the end of the year, the economy reached even $445!

The credit limit

A $5,000 credit limit, it is tempting! But is it for us? Find out estimated our revenues and our spending - omitting the savings! This lets us know how much you can borrow and repay each month.

Having good credit limit is all the more important that, if it is too high, this is detrimental to our credit rating. Indeed, "the lenders consider to borrow this amount at any time", said Liane Chacra, financial planner at Investors Group. In other words, a credit limit is considered to be a potential debt. Result, "the Bank could deny you a loan to buy a car or grant you it to a higher interest rate," said Ms. Chacra.

Therefore, it does not rely in the credit limits that we offer financial institutions. "Because, to provide a higher limit, they look only if it reimburses the minimum required each month, even if it is able to resolve all of our balance", says Johanne Arnould.

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Choose Your credit cards

Credit cards no longer serve only to make purchases: using them, it now gets free travel, gifts, cash-back... Avenues to find and choose the card that suits our needs.

Things have changed since the appearance of the first credit cards, to the United States, in the early 1950s. At the time, these pieces of cardboard only allowed to eat in restaurants members of Diners Club. Today, there are more than 200 credit cards available in Canada, according to the Agency's financial consumer of Canada (RAC), a federal regulatory agency. According to the Association of bankers (ABC), over a million shops at the Canada accept Visa or MasterCard. And Canadians have nearly 70 million credit cards in their collective portfolio!

They share all some characteristics: they offer a grace period, i.e. a period (between the purchase date and the expiry date of the statement) during which no interest is charged. They claim all the interest to customers who do not pay their balance on the due date. Finally, they all require a minimum monthly payment.

Choose Your credit cards

That said, according to the maps, the grace period extends from 17 to 26 days, the interest rate ranged from 9.9% to 28.8%, and the required minimum payment is 2% to 3% of the balance. The benefits also vary from one card to the other: annual leave, travel insurance, discounts in some shops, discounts on flights, cruises or investment products! Find one that meets our needs requires a good effort of shopping.

The main mistake we can do by taking a credit card? Not the shop. The second? Ill know its conditions of use. Indeed, like a loan mortgage, "credit cards are a financial product which one WINS to understand how to avoid unpleasant surprises," said Véronique Milot, communications officer to FCAC.

For example, the interest rates of some cards on balance transfers is only 1.9%. But it is valid only for a few months, and often, it does not apply to new purchases. Better to know before subscribing to this type of card. Similarly, it can be that some benefits or insurance is available with the card, but at an additional cost. In short, it has interest to ask questions and read the passages in small print, or at least to have them explain. Here are the features to check before choosing a credit card.

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Find the appropriate selection of credit card offers

It unlimited offers are made by companies of credit various card each week. But most of them are not even worth examining. They often confuse and wasting our time. The best way to choose the right credit card for our auto is to compile a list of the best offer and settled for the best of them.
The best way is to know exactly what you are looking for. Then, note all your requests on a piece of paper and then start to gather information from the suppliers of credit cards. You can surf the Internet to this information by doing a search for credit card offers + review. This will let you know that other people think about the offers. Try to contact some famous credit card companies find out about the offers.

Now, it is time to review. Try to match the offer proposed by various credit cards with your list of requirements. Add the interest rate and credit card charges in this requirement list. Some changes are hidden by most credit card companies, which are in small print. Therefore, does not prevent this and read these terms carefully.

Find the appropriate selection of credit card offers

Another thing that you should seriously consider before attaching to the credit card is the annual fee and the transaction fee, which varies from one card to the other. If you are lucky, you may also hit some free credit cards, which are free of any annual or transaction.

Search the card with the lowest possible interest rates. The best cards have interest rates below 15%, but seek the long-term rate of interest, rather than the lower similar offerings, or even of interest rate for the first month.

If you pick the best credit card, companies dealing with it will never charge you interest lower or no interest on purchases paid off in less than a certain number of days, in most cases to 30 days.

There are people who consider that the expenditure limit of the credit instead of what card it costs to get. For those who have a limited amount of money to spend, the best credit card is one that has the lowest total cost. Don't forget to look for hidden charges and interest. In fact, these factors determine the cost of your credit card.

So, to summarize, the best credit card must be driven appropriately, taking into account all factors that could help you solve for nothing but the best.

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