Best Credit Cards Websites

It is a system or method of payment that uses a small plastic card to pay certain purchases within the agreed credit limit. Most credit cards are issued by banks nowadays with their own bank names as the brand. However, there still exists today the co-branding scheme, where a bank issues a credit card in conjunction with another large or well-known credit card company, such as Visa Cards or MasterCard credit cards or the American Express cards.

A credit card is a form of unsecured lending, in the sense that the issuing bank does not require collateral from the potential cardholder as possible back-up in case of default. Unlike a debit card that removes money from a cardholder’s bank account to pay for the purchase, the credit card issuer (usually a bank), in effect, lends money to the cardholder (the consumer) to pay for this or that purchase by agreeing to pay the merchant selling the product or service being availed of by the cardholder.

There are mainly three parties involved in a credit card transaction: the issuing bank, the merchant who agrees to accept credit cards as a form of payment, and the cardholder. For the issuing bank, it is an additional source of income since the cardholder’s credit balance is charged an interest, plus all the other fees associated with having a card. For the merchant, it is an additional source of sales revenue. By accepting credit cards as payment, he is in effect increasing his sales by granting credit sales rather than relying entirely on cash sales. For the consumer, it is one way of increasing his purchasing power by postponing payment to a later date, thus conserving his cash for other uses.

Site 1:   http://www.creditcards.com
I consider this the number one site for anything related to credit cards. If you want to find out or know anything or everything about credit cards, this is the site to visit. All of the four top credit card issuers worldwide are also sponsors of this website. This site is likewise commendable for its well-organized Web design, with subject matters of particular interest to potential cardholders arranged according to their degree of importance. It also contains some miscellaneous items, such as updates on new offerings and promotions by credit card issuers, and news on the banking industry in general.

Site 2:   http://moneycentral.msn.com
The site to visit for anything related to personal finance in general and credit cards in particular. It also publishes newsletters from consumer advocacy groups that try to blunt the “predatory” practices of most credit card issuers which you do not even know about. When applying for a credit card, it is best that you read the fine print in the cardholder agreement and understand it thoroughly. As a wag claims, the fine print is practically a license to steal, by listing the top ten “money-grabbers” by issuers. This site has many other articles related to most money matters, from effective budgeting to managing debt, to filing for bankruptcy.

Site 3:  http://business.inquirer.net
This site caters mostly to interested Philippine readers who want to know more about the news in this country. However, it also often features some interesting business news like those related to the credit card industry in the country. In a particular feature article, it mentions that there are now fifteen credit card companies presently operating in the country, competing for the same bankable (creditworthy) segment of the population. The strategy employed by the card issuers is almost the same one already used in the other more financially mature countries. In essence, the battle for supremacy in the credit card industry has now shifted from merely increasing the membership base to increasing brand loyalty (card of choice) and increased monthly billings from each cardholder by enticing him to spend more. The local credit card industry has also worked on reducing delinquent payments significantly.