Arlington, Va., December 14, 2006 - With holiday shopping in full swing, credit card charges are surging. Consumers appreciate the convenience and safety of credit card transactions. The "buy today, pay later" philosophy has become a holiday tradition.
"Credit cards are wonderful tools when used responsibly. The challenge is to remember the 'pay later' part of your credit card agreement. The Better Business Bureau encourages consumers to carefully review credit card options, in order to avoid a post-holiday credit 'hangover," said Steve Cole, president and CEO of the Council of Better Business Bureaus.
This is particularly important if you are considering applying for a new credit card. US households receive an average of six card solicitations per month, which can be tempting this time of year, the BBB advised.
"Our new BBBTips™ on Credit Cards, released today, is designed to help guide consumers to make credit card decisions that are right for their particular financial circumstances," said Cole.
The BBB system's new educational resource is available online at www.bbb.org/tips/clearpoint. BBBTips™ on Credit Cards is intended to assist experienced cardholders as well as those seeking to qualify for their first credit card. Topics include:
- Various types of credit cards, reward programs and other enhancements;
- The pros and cons of credit cards;
- Credit terms and definitions;
- Understanding credit card solicitations and applications;
- Deciding which credit card is right for your situation;
- Evaluating balance transfer offers; and,
- Steps to take if you cannot make a payment.
BBBTips on Credit Cards is sponsored by ClearPoint Financial Solutions, Inc.™, a System-wide member of the Better Business Bureau. This is the newest release in a series of BBBTips™ resources on credit and debt issues.
"Consumers need to carefully examine all credit card offers before deciding what suits their budget and spending patterns. We join with the BBB to provide practical information about credit cards to help consumers be credit 'wise' and creditworthy," said Dan Oelrich, President and CEO of ClearPoint.
The BBBTips™ program supplements other helpful information provided by Better Business Bureaus to promote an ethical marketplace. In 2005, BBBs in the United States and Canada provided nearly 90 million instances of service to consumers and businesses."
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About ClearPoint Financial Solutions, Inc.
ClearPoint Financial Solutions, Inc.™ (formerly Consumer Credit Counseling Services of America, Inc.) is a national non-profit organization dedicated to helping consumers achieve financial wellness through counseling and education. Established in 1980, ClearPoint has helped over one million individuals achieve financial security. ClearPoint is the only non-profit System-wide member of the Better Business Bureau (BBB), and one of the largest members of the National Foundation for Credit Counseling (NFCC). Headquartered in Richmond, Virginia, ClearPoint manages branches across the country. Personalized and confidential consultations are available in person, by phone or online. Visit ClearPoint Financial Solutions at www.ClearPointFinancialSolutions.org or call 877-877-1995. Credit Counselors, CDC Consumer Debt Counseling, and Solutions, Inc. are all trade names of ClearPoint.
ABOUT BBBTips™
BBBTips™ is a trademark of the Council of Better Business Bureaus, Inc. (CBBB) used for information provided to assist consumers and businesses in making informed and intelligent decisions. BBBTips™ are developed in partnership with the Better Business Bureau Consumer Education Foundation, Inc. and made possible, in part, through the generous financial and technical support provided by corporate sponsors that are members of the CBBB and of the Better Business Bureau where the sponsor is headquartered. As a matter of policy, the CBBB and Better Business Bureaus do not endorse any product, service or company.