Credit Card Solution

According to the Free Financial Dictionary, credit score is defined as,

A credit score is a numerical expression based on a statistical analysis of a person’s credit files, to represent the creditworthiness of that person, which is the perceived likelihood that the person will pay debts in a timely manner. A credit score is primarily based oncredit report information, typically sourced from credit bureaus / credit reference agencies.

In laymen’s terms, a credit score is an at-a-glance measure of risk for banks. The higher the number, the less risky you are to lend to or be given the ability to charge purchases to a line of credit.

In the USA, there are three main institutions that calculate this figure for you: Equifax, TransUnion and Experian. Each will have their own credit score and their own way of figuring out where your number lies.

As a student, you may wonder what it means to you. Sim

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As of the end of February, there were 576 million credit cards in circulation in the United States alone, according to CNBC.

And US consumer revolving debt was $864.4 billion as of the beginning of the year, with 98% of it tied to credit card debt.

So who are the top issuers of all these credit cards?

Well, you may be surprised to hear that Bank of America was the leader, with $194.7 billion in credit issued.

That includes business outside the US, in places like the UK, Canada, and Spain.

Chase came in a close second with $184 billion in credit issued via 119.4 million credit cards, making it the largest credit card issuer in the United States.

At third was Citi, with $148.9 billion in credit issued on 92 million credit cards.

Top 10 Credit Card Issuers

1. Bank of America/MBNA – $194.7 billion
2. Chase – $184 billion, 119.4 million credit cards
3. Citi – $148.9 billion, 92 million credit cards
4. American Express – $105 billion
5. Capital One – $68.8 billion
6. HSBC – $58.5 billion
7. Discover – $49.6 billion, 54.4 million credit cards
8. Wells Fargo – $36.4 billion, 17.3 million credit cards
9. Barclays – $32.6 billion
10. Lloyds TSB/HBoS – $19.3 billion

If you’re wondering where Visa and MasterCard are on this list, note that they’re not credit card issuers, but actually payment processing companies.

For those headline readers who are interested in the bottom line, the short answer to the question is American Express.

If you want an explanation as to who says American Express is the best credit card service provider or why American Express can claim to be the best at providing credit card services, read on.

According to a 2010 study just released by JD Power and Associates, consumers have given American Express the highest customer satisfaction ratings of the nation’s top 10 credit card issuers. American Express not only rated highest in in customer satisfaction in the 2010 study, the company also took top honors each year since the study’s inception in 2007.

JD Power and Associates, a global marketing information service that has been in business over 40 years and is probably most well-known for their customer satisfaction reports on new car quality, conducts research on six key areas of credit card customer satisfaction: interaction; credit card terms; billing and payment process; benefits and services; rewards; and problem resolution. The

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If you’re in the market for a credit card – be it your first or not – the complexity of picking one can be overwhelming and pretty confusing. There are tons of different features and benefits in play such as Purchases APR, Balance Transfer APR, annual fee, cashback, etc.

Let’s outline a few basic rules to make the process easier and less stressful for you.

1. Lower APR is always better.

Don’t be fooled by the APR “ranges” that are listed on credit card offers. Always find out exactly what your APR would be before committing to a card. Ideally, you want a Purchase APR lower than 13%.

2. Avoid annual fees like the plague.

In 2010, if you find a card that has an annual fee on it, just toss it out. Seriously. There are so many credit card companies gunning for customers that there is no reason why you should have to pay THEM an extra fee on top of the interest that already will be capitalizing on your purchases.

3. Don’t get bli

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