Use of prepaid debit cards continues to increase, reaffirming both continued personal finance troubles for many Americans as well as general distaste for banks. New stats reported by Javelin Strategy & Research show that the percentage of consumers who purchased prepaid cards rose from 11% to 13% between 2010 and 2011. The amount of cash put on these cards is expected to soar north of $200 billion next year, up from $28.6 billion in 2009.

Analysts say this is the result of stingier lending habits by banks. The days of credit card giveaways and free-for-alls is over, replaced by hesitant banking executives worried by defaulting trends in the American economy. Banks are also responding to legislation passed during the financial crises of recent years that puts heavy limits on fees that can be charged on credit card holders.

The results have been less standard bank accounts, less conventional cards, and more prepaid cards. Some analysts see nothing less than a financial revolution on the way that will entail non-credit cards, such as the ones you can get with Green Dot Credit Cards - Credit.com.

Consumers have been surprisingly tolerant of the prepaid card fees, willing to trade in a few bucks in order to have control over their finances—or, a better way to say it might be ‘not having the ability to lose control.’ With the prepaid cards, consumers load a certain amount of money onto the card and can then essentially use it like a checking account or credit card, only without the fear of overdraft or piling on exorbitant costs during a spending spree. Reloading more money onto the cards usually entails a fee of $4 or $5 dollars, though in some cases that fee can be bypassed or minimized by rewards programs.

Some of these services also offer budget apps and other tools and savings accounts. Many of the funds on the cards can be managed from grocery store kiosks and online.

Ultimately, what this trend shows is that people are willing to spend a little bit of extra money in order to ensure that they don’t spend too much. Major banks’ overdraft fees in particular have come under scrutiny, with some account holders finding they’ve accumulated multiple $35 overdraft fees in one day without ever receiving an alert. One can easily see why banks—who for so many years have preyed on interest rates, financial irresponsibility and debt—might be a little worried.

One of the greatest advantages of internet is that one can apply for an instant credit card on line. To get an access to instant credit card one has to fill up the forms or application on line. The online services are provided by most of the credit card companies. These kinds of services are offered by the credit card companies to satisfy their customers and also to sign up new customers. The response from the company is very fast, the only thing that you need to do is just fill up the application on line and get the answer via e-mail instantly.

Let me tell you that it is not as easy as it sounds. The instant credit card application has both advantage and disadvantage.

You might get the response of an application instantly, however to get the approval of the application might not be as easy. In spite of these companies using the advanced technologies or claiming to be the fastest to response to the customers query does not work that well. It is not always true that your application is not granted because you did not pay your bills. Your application may be rejected for various reasons.

The credit card companies are very strict in verifying your application. There are many reason which might me be alien to you like having problem with any of your existing credit card can force the companies to reject your application. In result you might feel embarrassment.

It is very risky to use the free schemes provided by the credit card companies that is the reason why you should always verify the details in a proper manner. Many a times credit card companies enforce high interest rate on these instant credit cards. These are simply scam. Even when you apply on line it is not worthy to trust as you are required to fill some of the personal details. It is important to verify whether the website that you are surfing is secured. At times you are asked to fill some of the question which might be dicey and if it so then you must stop then and there.

However if there is disadvantages then there are advantages too with these kind of instant credit card. The entire process works very fast, again the credit report plays a vital role like if you have a good credit report then it is easier to get the application a green signal. It can also be very helpful when you need the card in emergency. There are good offers for new users like the introductory offer.

There are various offers while you fill up the card application on line, so it’s very obvious that you can always go for the best option that you require. To maximize profits it is vital that you weigh the pros and cons of instant credit card application.

Ok, close your eyes and imagine…wait, don’t close your eyes because you wouldn’t be able to read this…just imagine that you’re a small business owner (which I’m sure many of you actually are) who isn’t always able to pay his credit card bill in full before the end of the month. Now, this isn’t uncommon for a small business owner, so you think nothing of it…until one day you wake up and see that the interest rate being applied to your credit card balance has suddenly skyrocketed. Your debt is now much more costly, your carefully-crafted budgets are useless, and you fall behind on more and more payments, and…BOOM, you’re out of business. Sounds like a nightmare, huh?

While this scenario is a bit far-fetched, 82% of small businesses have credit card debt, according to the National Small Business Association, and cost-of-debt increases can indeed wreak havoc on these companies, throwing off budgets, ruining business development plans and causing a whole lot of stress. This isn’t intended to scare you, but instead to show just how important picking the right credit card is to small business success. All of these headaches, as well as countless others, can be avoided if you know what you’re looking for and are able to ignore certain key aspects of conventional business credit card wisdom. This then begs the question: Just what should one look for when choosing a small business credit card?

1. Debt stability
2. Enhanced business expense tracking capabilities
3. Control over employee spending
4. Rewards for all employee spending

So, where does this leave us? Well, it leaves you with a choice. Do you value the simplicity of using a single credit card for all of your small business needs or would you divide and conquer.

One-card simplicity: In order to get all of the aforementioned characteristics in one card, you must open a Bank of America business credit card. Bank of America could be construed as the best small business credit card issuer, given that it’s the only one to voluntarily apply all of the CARD Act’s main tenets to its business credit card offerings. The CARD Act—personal finance reform legislation that took effect in February 2010—only legally applies to consumer credit cards, which means most business credit cards do not benefit from rules such as that which prevents issuers from increasing interest rates on existing balances for any reason other than the cardholder missing three consecutive payments.

Divide and conquer: Carry your credit card debt on a personal credit card in order to get all of the CARD Act’s protections and win the debt stability battle. Use the best rewards business credit card for purchase you will pay for in full prior to the end of the month in order to win the convenience and rewards battle. After all, there’s no rule against using personal cards for business purposes, and this strategy would allow you to get both the card with the lowest interest rate and the card with the best rewards on your company’s biggest expenses instead of a single card that is average across the board.

Finally, in case you were wondering, you won’t be opening yourself up to more personal liability by using a standard credit card for business spending. According to a Card Hub Study, most major credit card issuers hold small business owners personally liable for the misuse of business credit cards and report details of this use to the owners’ personal credit reports, so the biggest difference between personal and business credit cards would therefore have to be branding. So don’t worry about how your credit card is labeled, just use one of these basic strategies and focus your energy on running a successful business.

This is a guest post from Odysseas Papadimitriou, a former Capital One executive and the current CEO of Card Hub.

For many years, using a credit card while travelling abroad carried with it a couple unfortunate side effects: you could expect to see expensive transaction fees, not to mention a tacked-on exchange rate. But even so, American travelers knew that their cards would be accepted. The major card providers (Visa, MasterCard, etc.) are prevalent in population centers around the world, and being able to rely on your card saves considerable hassle, even though a fee will likely be included.

These days, though, American credit cards often don’t work overseas, due to a relatively new technology called chip-and-PIN. The technology stores all of a card’s information in a microchip, rather than in a magnetic strip on the side, which ultimately makes information more secure. The U.S., unfortunately, has not yet switched over to the new system. American credit card companies have been working to make the switch to microchips, but the process has been a slow one.

In the meantime, what should you do when traveling abroad? If all your cards have the magnetic strip, and if you prefer having a credit card to make purchases, then getting a prepaid travel card might be your best option. It works just like debit cards and Prepaid Cell Phones, but it is specifically set up for international use. While the card will carry high fees, it probably won’t be much different from using a credit card. Many major credit card providers offer this service.

Other options include cash, debit cards, and traveler’s checks, and all have their pros and cons. Cash is the most convenient option, and it is usually the cheapest, although there’s no recourse against stolen cash and many people feel uncomfortable carrying around large amounts of currency. Debit cards and traveler’s checks are safer options, but they often involve higher fees and are not accepted in many places.

Ultimately, if you’re planning to travel, it’s important to be aware of your spending options before you go and to plan accordingly. Most travelers will rely on a combination of cash, credit, and other payment methods. But a new and important step to take – even if high fees don’t phase you – is to check the encryption method of your credit card.

There are a number of reasons of why secured Canadian credit cards are good.

1) Secured Canadian credit card means guaranteed acceptance:

When you apply for this type of credit card, you get the peace of mind that you will be accepted for this card. There are many people in who do not have any credit.

People with bad credit often apply for a number of credit cards all at once. Whenever the credit card company takes your application, they will check your credit report. Each time they access your credit report and you lose 6 points off your credit score.

2) Canadian secured credit cards help your credit report / credit score:

People with very less or no credit history often have a difficult time in getting new credit. For such people, secured Canadian credit cards will be of great help as it will help in rebuilding your credit scores.

3) Canadian secured credit cards help students and immigrants get credit:

University and college Students in Canada are usually starting off financially and haven’t got that necessary credit history started. They do a part time job while working on their studies. Once they reach the age of 18, they can get a secured credit card on their own without having their parents or friends co sign for it.

Immigrants have a difficult time in starting their credit. A secured credit card helps them get a credit rating started in their new country.

4) Canadian secured credit cards help people with bad credit:

A secured credit card in Canada shortens the time it takes to reestablish your individual credit. Once you start using the credit card, the credit card company will report your good credit to the credit bureaus and this will enhance your credit history.

There are several people who have decided that they would give up on their credit card, seeing the global recession. However putting down or closing your credit card account is not supposed to be an intelligent idea, while doing so one must be very aware of the consequences.

Why is it necessary for you to be aware of the consequences while closing the credit card? Your credit report could be one of the reasons. It can have both positive and negative effects. Having plenty of debt can put your credit score in bad situation while closing each credit card.

The age of the credit card plays a vital role in your credit score, saying that it means the longer you have maintained a credit card the better it would be for the credit score. However if you are given an option then you should close the new card rather then closing a old credit card, hence older card helps you to maintain your credit score. If you have decided to bring all your existing balance under one card then it is advisable that you keep your old credit card open.

Closing card with nil balance is not at all an intelligent thing to do, because it affects your credit report and also minimizes your debt to credit ratio. It is always suggested to leave the nil balance account open. Leaving this account open will help you in your days of crisis.

Keeping one credit card open is highly recommended. As you know that your credit score is based on one key factor, that is how many different types of credit card you have, there are one category of credit cards. To have one revolving credit card is important in case in future if you require any kind of loan it would help you then.

There is a process to close a credit card, first and foremost if you are closing your credit card make sure that you have paid the existing balance or transferred the amount to another credit card. Then inform the bank in written that you want to close the account. Always keep a copy of such notice to remember the closing date in case if any lender asks for the information.

Having credit card is not a bad practice; it is just that we tend to spend more without even giving a second thought that the amount we are spending is taking you towards debt. However having control over the expenditure is a good habit.