Are Those Quotsavings Accountquot Credit Cards A Good De
bad credit credit cardsAre those "Savings Account" Credit Cards a Good Deal?Tip! View her recommended companies for Bad Credit Credit Cards online. Also, view her recommended no credit check payday loan lenders online. You may have seen several television commercials or newspaper ads, which tell of credit cards that are linked to a savings account in your name. Instead of receiving reward points or miles, you get money added to your savings account each time you make a qualified purchase with the card. Is this a good thing for consumers, you might ask? My answer to that question is a qualified "yes, for the right cardholder." Let me explain. As we all know, there are many different types of credit card users. Some credit card users could be considered "credit junkies," by which I mean that they use credit cards to buy things that they cannot afford, in order to satisfy a need they don't understand. Other credit card users buy things on credit to get miles or reward points, and then redeem the miles for trips, or the reward points for items they would normally not be in a position to purchase outright. Other credit card users are so afraid of going into debt that they use the credit cards only for purchases they can afford to pay for in full at the end of the month. I am sure there are many other types, and many shades between one or the other, but these are the user types we hear a lot about these days. Tip! Many credit card companies advertise bad credit credit cards. To get approved, this usually entails opening a savings account with the company. I read in a newspaper recently that the savings rate in America today is at the lowest point in decades, possibly the lowest point ever. This is a pretty frightening statistic. We Americans are spending everything we make, with no savings built up for retirement or emergencies. We overspend for bigger houses, fancier cars, the latest TV or computer gadget, or the best in sporting equipment, and statistics show that we (in general) are just a few weeks away from complete devastation if something goes wrong. David Bach, the popular speaker and author of The Automatic Millionaire, makes a terrific point about how people with average incomes and a plan for action, can save enough during their working years to retire comfortably in their later years. Mr. Bach recommends that everyone be on a savings program among other things, and that the program be automatic. Let me repeat that, the savings program should be automatic. The program should be one that you could "set and forget" to the greatest extent possible. This makes a lot of sense, but unfortunately very few people actually put a program like that in place for their family. Tip! To find bad credit credit cards, you will first want to do your homework. The internet is a great place to start. So is a credit card that automatically puts cash in a cardholder's savings account a good thing? I say yes, if the cardholder understands the program and has a plan to save systematically over several years or decades. Most of the "savings account" credit cards, like One from American Express(SM), allow the cardholder to add funds to the savings account in addition to the money that AMEX puts into the account with each qualified purchase. Whatever gets our people saving on a consistent basis would have to be a good thing, right? So, if you are a credit card user who uses credit wisely, and would rather save for emergencies or retirement than chalk up miles for plane rides or rewards points for gizmos, then a savings account credit card might be just the ticket to get you started on the right foot. Tip! Even persons with bad credit can turn things around once they find bad credit credit cards. Of course, they should try to make payments on time, pay off balances and become an ideal credit card holder. YOU MAY COPY THIS ARTICLE FOR YOUR WEBSITE, AS LONG AS THE AUTHOR'S INFORMATION IS NOT REMOVED OR TAMPERED WITH IN ANY WAY. Michael Ziegler is a sales person, website owner, and an aspiring writer. He manages a website, http://www.usa-credit-card-guide.com where you can Get the Best Credit Card, and is interested in credit and using credit wisely. He lives in Austin TX with his wife and family. Get Free Web Site Content From ArticleBuilder.net
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