Credit Cards and You

I recently returned from a most fantastic vacation in Ireland. It’s a great time to visit the Emerald Isle. What does this have to do with business? Well, I got the airfare for peanuts based on some tips from a book at Kansas City, Kansas Public Library. Think about all the interest credit card companies charge. Wouldn’t it be nice to get something back? There’s an interesting book called “How You Can Profit from Credit Cards : Using Credit to Improve Your Financial Life and Bottom Line”. The author, Curtis Arnold, highlights ways to get the most out of credit cards. While there is currently a credit crisis of epic proportions, airlines among others seem to be really pushing credit cards. Often these offers come with enough miles for a free ticket. True, you need good credit and are at the mercy of the airline when it comes to booking the trip. Still, it could be a good deal. As they say, “always read the fine print”.

While it may not be the easiest thing in tough economic times, Arnold recommends paying your credit cards in full at the end of the month. If that’s not an option, there are tons of ways to get lower interest rates on credit cards and save money there.

Plus, there’s a fascinating history of credit cards. Those ubiquitous little pieces of plastic used to be much more rare years ago. Can you imagine life without credit cards? It wasn’t that long ago when credit cards were much rarer. People had to demonstrate that they had actual money to pay off their charges to get one. Imagine that! Even crazier, late fees, penalties, and interest were regulated too. To make a long story short, the whole credit card world changed about twenty years ago out in the prairie of South Dakota. The rest is history.

Every economic climate has its opportunities and perils. Thirty years ago, credit card companies weren’t giving away free plane tickets. Today they do but the rules have changed. Late fees, interest calculation, and even billing cycles have undergone radical transformations. It practically takes a book to get the maximum benefit out of these popular little loans.

On Tuesday, May 5 at 6 pm, we’ll be showing Office Space for Business Movie Night. Attendees must be 18 or over or accompanied by an adult. This will take place in the second floor auditorium at the Main Library at Kansas, City, Kansas Public Library on 625 Minnesota Ave. Until next time, catch me in the library.