ArtsAutosBooksBusinessEducationEntertainmentFamilyFashionFoodGamesGenderHealthHolidaysHomeHubPagesPersonal FinancePetsPoliticsReligionSportsTechnologyTravel

Looking for a credit card rewards program

Updated on November 21, 2012

It's just a matter of time before they get your money

Watch out for credit card reward programs!

I am going to make this pretty short because I am short on time. When trying to review all the credit card companies out there it can get pretty complicated. Every company has their own reward programs to get you to sign up with them. "Watch out" Most of the time there is going to be a catch somewhere in the contract. The contracts are written in ways that can be really hard to understand. what the credit card companies are doing to you. This is why more people are looking into the advantages of using a reputable debt settlement company to negotiate their credit card balance

For example one of the biggest credit card company has a very successful program with an APR. of 4.9% interest for the life of the program. They want you to go through all your other cards and do a balance transfer, this way you will only have to make one payment to them. Why not with a 4.9% interest it would be foolish not to and just think of the money you are going to save. The other cards have 7.99% or even 12% APR that is still a lot of money that can go back in your pockets. Right?

Wrong!!! They use that promotion to get you in that of state of mind. You start thinking about what you can use that extra money you will be saving on. So you jump right on the program and it is great for the first couple of months. It is just an ordinary month, you open up your statement and it hits you right in the face. You went from 4.99% APR to 29.9% APR because your debt to credit ratio is too high or they do not like the weather outside.

I have had a lot of clients that were told by the credit card companies that it is their prerogative to do what they want, when they want.Always read the small print of your contract before signing it. Under the Universal Default Clause the credit card companies can pretty much do what the want, when they want. It would be a good idea to read about Universal Default so you have a better understanding of what you can expect from your credit card company. Make sure you ask a lot of questions before you do anything.

One of the other things that is very misleading is when they say 4.9% or even 7.99% whatever the case may be for the life of the program, watch out. They make it sound as if it is going to stay like that forever as long as you don't mess up on the card. Again not true, when they mean life of the program it only means for as long as they want to offer that promotion on the card. It could be 2 months or 5 months, it will be when they decide they have enough people on the program and as soon as it is time you can bet you will be paying a lot of money in interest.

If this is what has happened to you to by your credit card company and have transferred everything to them and now you are paying double or even triple what you were paying before you did the transfer. If you are tired of the credit card companies raising your interest and want off the credit treadmill, then maybe it's time to start looking at your other options.

If things start to get rough after they raise your interest "stop spending". Don't buy things that you can't afford right now. The more money you put on the card the harder it will be to catch up. If you are at a point and don't think you can catch up, do not wait until it's too late before you do something about it. Check out all your options like debt settlement vs credit counseling. Also talk with several companies so you have an idea on what each company has to offer.

You can go to the website above, the one with the Maxed Out Video for more information. Just like the credit card companies you need to be very careful when looking for any credit card debt negotiations company to help you out. Check out the BBB for background information on the company. If you have any questions or want to speak with me, leave a message and I will respond to you.

Hopefully you never have to deal with a situation where you have to use a company for help but if you do need to start dealing with your debt, I would be glad to answer any questions you have and if I can't help you at least I can point you in the right direction. Thanks and have a good day.


    0 of 8192 characters used
    Post Comment

    • profile image


      9 years ago

      great job as always on your hubs. They have a lot of good information for prople to know.

    • Lgali profile image


      9 years ago

      good tips

    • profile image

      Jody MD. 

      9 years ago

      Nce job keep up the good work

    • glassvisage profile image


      10 years ago from Northern California

      Good tips to look out for, especially about the APR. Those are what a lot of people warn against.


    This website uses cookies

    As a user in the EEA, your approval is needed on a few things. To provide a better website experience, uses cookies (and other similar technologies) and may collect, process, and share personal data. Please choose which areas of our service you consent to our doing so.

    For more information on managing or withdrawing consents and how we handle data, visit our Privacy Policy at:

    Show Details
    HubPages Device IDThis is used to identify particular browsers or devices when the access the service, and is used for security reasons.
    LoginThis is necessary to sign in to the HubPages Service.
    Google RecaptchaThis is used to prevent bots and spam. (Privacy Policy)
    AkismetThis is used to detect comment spam. (Privacy Policy)
    HubPages Google AnalyticsThis is used to provide data on traffic to our website, all personally identifyable data is anonymized. (Privacy Policy)
    HubPages Traffic PixelThis is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized.
    Amazon Web ServicesThis is a cloud services platform that we used to host our service. (Privacy Policy)
    CloudflareThis is a cloud CDN service that we use to efficiently deliver files required for our service to operate such as javascript, cascading style sheets, images, and videos. (Privacy Policy)
    Google Hosted LibrariesJavascript software libraries such as jQuery are loaded at endpoints on the or domains, for performance and efficiency reasons. (Privacy Policy)
    Google Custom SearchThis is feature allows you to search the site. (Privacy Policy)
    Google MapsSome articles have Google Maps embedded in them. (Privacy Policy)
    Google ChartsThis is used to display charts and graphs on articles and the author center. (Privacy Policy)
    Google AdSense Host APIThis service allows you to sign up for or associate a Google AdSense account with HubPages, so that you can earn money from ads on your articles. No data is shared unless you engage with this feature. (Privacy Policy)
    Google YouTubeSome articles have YouTube videos embedded in them. (Privacy Policy)
    VimeoSome articles have Vimeo videos embedded in them. (Privacy Policy)
    PaypalThis is used for a registered author who enrolls in the HubPages Earnings program and requests to be paid via PayPal. No data is shared with Paypal unless you engage with this feature. (Privacy Policy)
    Facebook LoginYou can use this to streamline signing up for, or signing in to your Hubpages account. No data is shared with Facebook unless you engage with this feature. (Privacy Policy)
    MavenThis supports the Maven widget and search functionality. (Privacy Policy)
    Google AdSenseThis is an ad network. (Privacy Policy)
    Google DoubleClickGoogle provides ad serving technology and runs an ad network. (Privacy Policy)
    Index ExchangeThis is an ad network. (Privacy Policy)
    SovrnThis is an ad network. (Privacy Policy)
    Facebook AdsThis is an ad network. (Privacy Policy)
    Amazon Unified Ad MarketplaceThis is an ad network. (Privacy Policy)
    AppNexusThis is an ad network. (Privacy Policy)
    OpenxThis is an ad network. (Privacy Policy)
    Rubicon ProjectThis is an ad network. (Privacy Policy)
    TripleLiftThis is an ad network. (Privacy Policy)
    Say MediaWe partner with Say Media to deliver ad campaigns on our sites. (Privacy Policy)
    Remarketing PixelsWe may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites.
    Conversion Tracking PixelsWe may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service.
    Author Google AnalyticsThis is used to provide traffic data and reports to the authors of articles on the HubPages Service. (Privacy Policy)
    ComscoreComScore is a media measurement and analytics company providing marketing data and analytics to enterprises, media and advertising agencies, and publishers. Non-consent will result in ComScore only processing obfuscated personal data. (Privacy Policy)
    Amazon Tracking PixelSome articles display amazon products as part of the Amazon Affiliate program, this pixel provides traffic statistics for those products (Privacy Policy)