Do you have a credit card? If you do have a credit card, you may be wondering how to use it or maybe you are looking for a great new way to spend your credit card money wisely. You don't have to apply for a new credit card. You can use your existing credit card to pay for your purchases at Target, JCPenny, Old Navy or any other participating retailers in the MasterCard program.
Use your existing card to make purchases. Each time you make a purchase, the amount you owe is reduced until it is paid off completely. Choose the method that works best for you: Open Mission Lane's website to find the best credit card for your needs. Log on to the site with your regular online banking credentials and activate your new card.
Call your favorite retailer to find out if the MasterCard will offer you a special offer. Some cards charge low annual fees and low fuel penalties. Or, check out the rewards that you can get with your credit card. The limit of your reward may be an air trip, cash back, a day at the spa, or whatever your heart desires.
Make sure that you read the fine print. Some cards require that you pay your entire balance every month. Others will only allow you to spend a certain amount of money each month before you have to pay a significant fee. If you are looking for a credit card with a great interest rate and minimal restrictions, consider a prepaid MasterCard that lets you make purchases online and pay your balance instantly at the end of the month.
Check out all of the benefits your new credit card offers. Some cards will give you bonus points for your spending, or give you a percentage rate reduction on your purchases. Or, you might be able to get a discount for paying your balance in full every month. Other cards give you a reward or cash back bonus for using their credit card to make purchases. Take all of these special offers into consideration when choosing your card.
Remember, too, that when you apply for your mission statements, you should remember to cancel the old account. This gives your credit card a clean record and decreases the risk of being reported to a credit card agency. This is especially important when you are applying for a new card. A previous account that was canceled can hurt your credit rating.