Today, almost all Americans are in some kind of debt, even though they are aware of what a problem it can be. When you are receiving bills that you are unable to pay off it can be very frustrating, whether these debts were incurred through college or in your adult.

The question that troubles most people is what will happen if you don’t pay your credit card bill. The first thing you should consider before you actually give up is to carry on paying the minimum. Depending on the size of your balance, this can be quite low and within most people’s means. Doing this ensures your credit worthiness and your financial future in the coming years.

If circumstances mean you can’t pay the monthly minimum then you should contact your credit card company before you stop paying. Credit companies would far sooner work something out with you rather than continually hassling you – especially if you get laid off or know that your finances are in trouble. Your attitude will determine how long you are going to be in a financial bind, it takes motivation and a commitment to honor your debts. Unless you take this approach you won’t survive in financial terms.

So, what happens if you don’t pay off your credit card bills –
If you don’t pay your credit card bills it is not costing the credit card companies a lot of money. This is because up to seventy percent of unpaid bills are underwritten by insurers and the remaining thirty percent can be written off as a tax loss.

Your debt will be sold to a collection agency for pennies on the dollar once the credit card companies feel that they are getting nowhere. This means that you are no longer a problem to the credit card company as someone else will be hassling you for the money – the problem is that collection agencies are a lot more hard faced than the credit card companies.

Some of the things that may happen to you when you don’t pay off your credit card bill are as follows –

Your credit score will go down

Your credit score is an important part of your financial future. It’s important that you try to keep this score up in case you want to apply for a car loan or a mortgage on a home. Every month that you don’t pay, your credit score goes down so the worst thing you can do is not to pay your bills..

Lawsuits may occur

You may already know that depending on the extent of your debt and how far you are prepared to cooperate with your creditors, some companies may decide to pursue you for what you owe through the civil courts. This can result in a lot more problems, the fact of the matter is that credit card companies have the money to do this and you don’t. You could be faced with the worst case scenario, having to declare yourself bankrupt.

Garnish of wages

It is rare for this option to be used in the case of unpaid credit card bills. Legally however, if you are working, then the credit company is able to take money from your paycheck – because when you are working you should be able to keep up with the monthly minimum, so don’t’ give up.

Paying the monthly minimum is vitally important if you don’t want the credit card companies to use any of these methods against you.

Want a credit card, but don’t know what type you’re looking for? Everyone’s spending habits are different and so cards are broken down into categories below – just choose the card that is best suited to your personal spending habits..

Gas Reward Credit Cards

Drivers who clock up a certain amount of mileage which necessitates filling up two or three times a week might want to consider a credit card that offers gas rebates. You save a percentage of the cost whenever you fill up at the pump. Some credit cards are a better option than others because they can be used at any gas station, useful if you are on the road. Other cards dedicated to a particular gas station.

Airline Credit Cards

When you travel regularly, whether for business or pleasure then you might want to consider a travel credit card, or a card that is offered by a certain airline. The concept is similar to gas credit cards one only gains points from a dedicated airline, while a travel card’s points can be used for airline tickets. An airline card, however generally offers more points than a travel card.

Cash Back Credit Cards

Cash back credit cards are one of the most popular cards. The idea behind this is that every time you make a purchase you will receive a percentage back. A credit card that offers two percent back on your bill means that you get two cents back for every dollar you spend. This might not sound like a great deal but over time the pennies add up..

First Time Credit Cards

If you have never had a credit card before and you’re still attending school, then you might want to think about a student credit card. For those of you who are not at school some companies offer first time application credit cards. The problem with such cards is that they often have a higher interest rate and a very low credit limit.

Point Based Credit Cards

A point based credit card is very similar to a cash back card. The main difference between the two is that rather than getting cash back on your purchases, you receive points. You can usually spend these points at the company’s online store, which offers things ranging from gift cards to electronic goods. Point based credit cards usually offer you a point for every dollar you spend.

There are credit cards in other categories on the market, but most consumers tend to favor the ones listed here. Can’t find what you’re looking for here? Then ask around, search online, or call some companies to find out whether they offer a credit card that is better suited to your particular needs

Holidays mean only one thing, expense, it’s time for you to get out your credit and debit cards and buy all those things that you need at this time of year. If you want to be sure that all of the items listed on your next statement were actually purchased by you, then you might want to make a note of the following steps.

Keep records of your credit cards

You should always list both your credit and debit card details on separate sheets of paper. Included on this paper should be your card type, its number, expiry date and the number on the back of the card. This information will be needed in case you need to contact your credit or debit card supplier. You should keep this piece of paper in a safe place and not with your cards.

It is a good idea to bookmark credit and debit card numbers in your cell phone, as well as writing the information down on paper. If you should have the misfortune of having your cards lost or stolen then you can contact the company who issued them before any real damage is done.

Watch your credit card

You should keep a close watch on your credit card at all times and especially when you are in a store shopping. Watch out for any suspicious behavior on the part of the store clerk such as writing something down while processing your payment etc. If you see any untoward behavior then you should question the situation and ask for the manager straight away.

Sign up for online statements

It is easy enough to sign up for an online account with your credit card, and you should sign up straight away if you haven’t already done so. To sign up for an online account just type in the website address that should be on the reverse side of your card. Then follow the onscreen instructions on how to open an online credit card account. If perhaps there is no url on the reverse of your card then call the company’s customer support department and they should be able to help you..

Online statements are useful because they enable you to see all of the transactions at a glance. In addition to this you don’t have to wait a month to receive your statement as you can just go online to access your account and find the transactions straight away.

Be organized

Whenever you use your credit card to make a purchase you should save the receipt. When you make online purchases with your card then remember to print off the receipt and save it. You should staple all your receipts to your monthly statement when you receive it.

Check each transaction against the paper statement before you staple your receipts on the back of it. You should enquire what has happened if something doesn’t match up. If you think the statement contains suspicious transactions then you should contact your card issuer immediately.

If you follow these tips then you will have gone a long way towards preventing credit card fraud. Remember that your credit cards are your responsibility. You should keep your credit cards in a safe place and never lend your card to another person. Visit the FTC’s website at ftc.gov. for more information on credit card fraud.

Your credit rating score represents your history of borrowing and repaying money. When you apply for credit, the lender will look at your score to decide how great the risk is that you won’t pay them back. A good credit rating allows you to get credit more easily and pay lower interest rates. Some employers have pulled potential employees’ credit reports to determine their reliability, and others use it to decide whether you should be granted access to sensitive information.

Whatever your score is, you can raise it. Follow these simple steps.

1.) Know what your score is. The three reporting companies are required to send you your report free of charge once a year. Stagger them, so you get a report every four months.

2.) Pay all of your bills on time; credit cards, utilities, loan payments, etc. Your payment history represents the single largest factor in your credit score. It counts for 65% of the total. Focus on paying the right amount to every company every time.

3.) Don’t let yourself get maxed out. Keep two, maybe three cards, not a lot more. Pay them down, skimping for a while if you must, to get to where your debt on each card is no more than 30% of the max. It doesn’t look good to a lender if you are close to the edge.

4.) If you can, stay at the same job and the same home. Stability looks good on a credit report.

5.) Don’t change accounts frequently. Closing accounts and transferring balances gives you a short-term negative on your score, especially if you do a lot at once.

6.) Credit inquiries, made whenever a company checks to see if you are credit-worthy, also represents a small short-term negative hit on your score. It suggests you are looking for money to borrow. To minimize this, don’t apply for new cards or loans a lot; shop for a while and apply when you need to. This isn’t much of a factor, so don’t worry about it much.

AMEX Starwood Preferred Business credit card is now offering a promotional with 10,000 bonus Starpoints after the first purchase. This many Starpoints is equivalent to 3 free nights at a Category 1 or 2 hotel such as Sheraton, Westin, or the W Hotel. You can also redeem 9,000 of the bonus point for a free $100 Amazon.com gift card. You can either use the gift card yourself, sell it on eBay (bidding range is usually between $90-$95), or give it to a friend as a gift.

There is no annual fee, simply apply for the AMEX Starwood Preferred Business, make a purchase, pay off your bill, and get a 10,000 Starpoints credited to your account.

*Please note that the 10,000 AMEX Starpoints® rewarded with your first purchase would normally require $10,000 worth of business expenses. There is a recurring $45 annual fee after the first year. Every eligible dollar you spend on this card will result in double the Starpoints® for the first 6 months.

Using Your Credit Cards Wisely

1. Build your credit

2. Protect yourself from fraud or defects on big purchases (with the Fair Credit Billing Act)

3. Use your card for a loan

American Express SimplyCash was introduced by AMEX as a business credit card because of its broad eligible purchase categories that emcompasses almost every business expense.

AMEX SimplyCash credit card features:

5% cash back on gas, office supplies and wireless services
Aside from being a great business credit card, AMEX SimplyCash is one of the best gas credit card offers because of its high 5% cash back return on gas.

1% cash back on all other purchases
If getting cash back on transportation isn’t enough, AMEX SimplyCash credit card also offers you cash back on everything other than gas.

0% Introductory APR for purchases in the first 12 months
The AMEX SimplyCash 0% APR feature will let you recieve cash back on purchased items on the credit card and not incur any finance charges during the promotional period of 12 months. Most credit cards will require a minimum monthly payment, but AMEX SimplyCash will not put any pressure on you using the card.

Apply today and you will recieve:

With a credit card like American Express SimplyCash, your business will recieve cash back on virtually every purchase. Plus this credit card looks aesthetically amazing in person!

*Cash back on the AMEX SimplyCash will automatically be credited to the monthly statement in full.
*American Express affliate promotional allows you to get additional AMEX SimplyCash credit cards for employees at no annual fee. Cash back will be earned on their eligible purchases.

Do you have bad credit or no credit? If you haven’t borrowed money before, or if your last debt was successfully paid off many years ago, the credit reporting companies may not have any information on you; that’s “No credit.” If you have defaulted on a loan, had things repossessed, or made late payments on a credit card or utility bill, that’s “Bad credit.” Both situations can be salvaged, and with pretty much the same techniques.

First, make sure you are paying current payments regularly. It won’t help you at all to establish a good record with a new card or loan if you are missing payments on your electricity bill, car loan or mortgage. The same goes for your current cards; make sure you are paying them down.

Second, see if you can get a credit union membership if you don’t already have one. They can often get you the best deal on a small loan or low-rate credit card.

Third, apply for a low-limit credit card. Even a gas card will do. Make sure that the merchant reports to the credit reporting companies, or all your on-time payments won’t help you at all. Don’t apply for a lot of cards, even if you don’t use them; every one of them counts as potential debt on your credit record. Too much potential debt compared to your income scares creditors.

Don’t draw a lot of money on this card! Making the payments reliably is the reason you took this card in the first place.

If you can’t get a regular credit card, get a “secured” card. These require you deposit money in the bank equal to the credit line you want. It means that the card issuer is at no risk, since you have already put that money in their hands. After you’ve made regular payments for a while, you will have established enough of a good history to apply for a regular card.

Chase Freedom Cash is offering a promotional $50 cash-back bonus after your first purchase.

There is no annual fee, simply apply for the Chase Freedom Credit Card, make a purchase, pay off your bill, and get a $50 credit on your account along with many other cash-back benefits:

Grocery Stores

Gas & Convenience Stores

Department Stores

Drugstores

Beauty Shops/Salons/Spas

Pet Supply Stores & Vet. Offices

Telecommunications

Cable/Satellite Tv & Internet Services

Quick-Service Restaurants

Local Commuting

Gym Memberships

Utilities

Dry Cleaners

Video Rentals

Movie Theaters

All Other Purchases

From the above categories, you will also recieve 3% cash back on your top everyday spending categories. Many consider this to be one of the best consumer credit cards because there is no annual fee, a $50 cash bonus, and you get a 3% cash-back on your everyday spendings.

You simply have nothing to lose and everything to gain!

With gas prices sky rocketing in California, Discover is running a credit card promotion where they will pay you 5% Cashback in bonus rebates everytime you spend money on the pump and on your car.

Full 5% Cashback Bonus on gas and everyday auto maintenance purchase

5% to 20% Cashback Bonus on Discover Card’s exclusive online shopping site

Up to 1% Cashback Bonus on all other purchase

No Annual Fee

$0 Fraud Liability Guarantee

Easy online Account management options

There are many credit cards on the market that gives you a percent cash back on gas, but what sets this credit card apart from the rest is that Discover Open Road offers you 5% Cashback on ALL automotive related expenses! This could be the only credit card that gives you rewards on both gas and on automotive parts, so if you are in an industry that needs constant maintenance and refills at the pump, this card is essential! Furthermore, this card also gives a special 5% to 20% discount when you shop on Discover’s exclusive internet store plus another 1% on all other purchases unrelated to automotive expenses. All these offerings combine to make Discover Open Road is a very well rounded gas credit card. This credit card also has no annual fee, so you can apply for it and use it at your leisure. For more information, be sure to check out the Discover website.