Personal Finance and Investing

The terms “credit card” and “charge card” have often been used to describe the same thing but, in reality, they are two very different things.

A credit card is a standard card in which you can charge purchases and then pay them back over a period of time. A charge card, however, is card on which you can make purchases, but they must be paid off when your bill arrives.

Charge cards have been primarily issued by American Express, while other companies, such as MasterCard, Discover and Visa, have offered their customers credit cards.

The Benefits of a Charge Card

The premise behind an American Express card has always been liberal spending limits and no accrued interest rates, mainly because the card balance is paid in full each month. Most Am

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The official government reports have been issued for November 2009 and interpreting the statistics is a challenge in terms of what it means for 2010. For ten straight months consumers have borrowed less on their credit cards and taken out fewer loans. In fact, the amount of money borrowed in total on credit cards has fallen more than it has in 70 years.

The falling credit numbers generate mixed feelings though among those responsible for stimulating the economy. Consumer spending makes up a whopping 70 percent of the economy. When consumers are not borrowing…they are spending less which hurts factory orders and retailers and financial institutions are earning fewer profits. A

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February 22^nd is the magic date when all of the credit card legislation that was passed through the Credit Card Accountability Responsibility and Disclosure Act (CARD) must go into effect.

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Rebuilding your credit is not that difficult. It takes time, patience, the right resources, and a good start. As a victim of the bad economy crisis, I too had to start over, and my future is looking brighter than ever. The beginning steps I followed in the rebuilding process is very simple and it works! I’ve been successful and it has been a rewarding experience. Use your 2009 tax return and follow these steps to start rebuilding your credit.

File your 2009 income tax return. Use the money you get back to get a secured prepaid credit card.

Search for a good secured credit card. T

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