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Tip of the Day Set Concrete Goals

Set Concrete Goals - One of the best ways to help you set a budge and live within your means is to set realistic, but concrete, goals for things like...

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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.

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Definition of the Day Margin Trading

Margin Trading - Margin Trading is a brokerage account that allows the investors to buy securities by borrowing a portion of the purchase price. The National Association of Securities Dealers (NADD), in the New York Stock Exchange (NYSE), and the lending brokerage firm, governs margin accounts. Stocks purchased in two...

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