Information Center – News and Articles about Credit Cards
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When Will Teachers Be Able to Make Credit Card Deals?
Among numerous consumer categories you will find credit cards matching pretty any taste and demand level. Credit card companies seem to take care of all major "interest groups" existing: business, students, pets, cars, travelers, athletes, housewives and other credit cards. Can you see teachers credit cards in this classification? Me neither. Let's figure out the reasons for that.
You know, a few decades ago a teacher's salary was not good enough to afford getting a credit card deal. Teaching was one of the most low-paid professions. These days the situation is different, here in the US. As for some developing countries and the third-world countries, teachers' salary barely exceeds the living wage. And they do not dream about establishing good or excellent credit history, if they are aware of what credit history is.
In today's society teachers' contribution into raising intellectually developed, educated people with high moral values is greatly appreciated. So, they are paid higher wages than before and now they can get credit cards and can pay off their balances in full on a due date just like all the rest credit card owners. By the way, people of this profession, as a rule, turn out to be among the most reasonable, wise, and accurate credit card holders.
But the thing is that teachers can make only regular consumer credit card deals, which come with good perks and bonuses. However, there is no special credit card fitting their occupation and activity. Besides, teachers spend a sufficient part of their earnings to buy different studies-related equipment items and facilities for themselves, their students, and classrooms.
So, teachers have 2 options to get a credit. First - applying for one of the typical credit card offers from banks. That is where they come up to a sticking point. Both, a credit card company and a credit consumer make deals in order to get maximum benefits from a credit card offer. At the point where both sides reach compromise the deal is made. But often it happens so that teachers, or their incomes, to be more precise, cannot agree to the credit card issuer's terms.
So, teachers find a solution of this problem in making credit card deals with credit unions. Credit unions are financial organizations that unite groups of people by their interests, job, place of living, etc. As non-commercial institutions such unions do not pursue the aim of getting from credit consumers as much money as possible. They are aimed at giving financial support to its members.
Spokane Teachers Credit Union, for instance, has over 70 000 members. They are quite satisfied with terms and conditions that this union offers them, so they remain faithful to it for years.
Having joined such a union you can be issued a credit card, which functions as a regular plastic with a sufficient difference that the card has lower interest rates and it usually comes with fewer fees and not so high penalty and default fees.
The Spokane Teachers Credit Union Visa, or STCU Visa, is what Spokane Union provides its clients with. High-quality customer service, identity theft protection, and, of course, incredibly low APR are the benefits you get as you apply for STCU Visa. Gold and Platinum cards enable you to get a no annual fee feature and a car rental insurance.
So, teachers are not that disappointed in credit card companies that have not issued a teachers credit card yet. They get maximum benefit from credit unions plastics that fit their incomes, occupation activities and their lifestyle.
We are used to see credit cards the way they look today, and it is hard to imagine that they looked different and served for another purpose than paying for goods and services. We call them plastics. In fact, a century ago credit cards had a different shape, size and were not made of plastic.
The appearance of credit cards dates back to the beginning of the XX century. Who were they created for? The target audience was wealthy people. The cards could be used as business certificates and licenses for the so-called "loyalty programs" at some restaurants, gas stations and merchants. Those cards, you can be surprised, were made of cardboard.
Rapidly growing credit card crime rate causes more and more concern of credit consumers and credit providers as well. Credit card fraud is a number one card holders complaint to Federal Trade Commission. According to the statistics, over 85% of credit card owners that fell victims to credit scam discover the fraud only after they get turned down by credit issuers, having applied for a new credit card or loan.
Credit bureaus cannot stay indifferent to the problem of credit fraud and identity theft, in particular. Equifax, one of the three US major credit bureaus has introduced a new ID theft protection service. "ID Patrol" is a multifunctional tool that allows protecting customers from identity theft.
You can find hundreds of e-articles and tips on reasonable credit card spending and staying away from debts. After you read them, it seems that it is pretty easy to stick to several rules of rational credit card use. But when you try to put theory into practice, it turns out to be much harder than it seemed.
Even if you do your best and manage to live within your financial means and spend the amount of money on your credit card that you can afford to pay off, you cannot be protected from unexpected situations in life and some external factors. Now that the US economy is experiencing a slowdown, it is high time to do the impossible and take control over you spending habits.
People got so much used to comfort, to living in apartments and houses with all conveniences. Can you imagine living without water, gas or electricity? Like cavemen. Me neither. However, utility bills are among the most avid money eaters on your expenditure list. But most people just make a helpless gesture looking at their monthly credit card statement. That's the way the cookie crumbles.
Actually you can make the cookie rumble the way you need it. You just need to make some efforts and get used to saving on utilities. Keep on reading and you will find several tips on how to reduce your utility bills and cut down your monthly credit card payments.
