Home     About Us    Contact Us     Contribute     Privacy
Investing
Stocks
Bonds
Mutual Funds
Biz
Credit
Career
College
Economics
Tax
More
 
 
Marketplace
Related Articles
More
Related Categories
Tip of the Day

Tip of the Day Borrow No More Than 30% of Your Available Credit

Borrow No More Than 30% of Your Available Credit - You should borrow no more than 30% of your available credit each month if you wish to keep your credit...

read entire tip

Related Podcasts
Recently Added
Other Great Sites
 

Free Credit Card Account

With the number of people using credit cards down due to the economic climate around the globe, banks and credit card companies are looking for new ways to draw in customers. One of the tools commonly used by banks and credit card companies to get new customers is to offer them a free credit card account.

A free credit card account can mean a couple of different things: it can be an accessory with another product or service, or it can be a credit card that the consumer has applied for that comes without an annual fee. Either way, a free credit card account can be beneficial to the person that has it.

Banks and credit institutions have started offering free credit accounts to their customers as part of doing business with them. If the customer has a checking or savings account, the bank or credit union may offer them a free credit card account as a way to thank them for their business. They may also offer a free credit card account to new customers considering opening an account with them to clinch their business. Both can lead to increased revenue for the banking institution and more flexibility for the consumer.

A free credit card account can also be a card that has no annual fee. Many cards, especially a large percentage of those cards considered to be elite, have annual fees associated with them. Some of those fees can be hundreds or thousands of dollars, which can be a turnoff to potential credit card customers. In an attempt to lure in new business during tough times, some other companies are offering cards with similar benefits without an annual fee. These free credit card accounts can be highly attractive to those with strong credit histories.

In some cases, a free credit card account comes with a number of drawbacks, as well. The lack of an annual fee could be replaced with a higher interest rate or heavier fees or charges assessed by the credit card company in other areas. These fees make up for the revenue lost from the lack of the annual fee, and then some.

Discuss It!
Most Popular Articles
Most Popular Definitions
 
Daily Definition

Definition of the Day Enhanced Index Fund

Enhanced Index Fund - an enhanced index fund is strategy term employed to outperform traditional indexing. The fund is aimed at an index (an indicator, representing the value of a security) but the fund is also attempting to boost returns by staying clear of the index in order to...

read entire definition

 
 

 

 

Home     About Us    Contact Us     Contribute     Sitemap

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Copyright © 2009 TeenAnalyst.com