What Happens In A Non Payment of Credit Card Situation?
If you find yourself in a non payment of credit card situation, be ready for some interesting events to take place. You see, a non payment of credit card will set into motion a fairly predictable sequence of correspondence from your creditors.
First off, you will probably receive a barrage of letters and phone calls. This harassment is designed to get you to do one thing, pay up. Your creditor would love to see you get into a monthly payment arrangement and they will offer to reduce your interest rate and forgive services charges.
If you decline the credit card company's offers, expect the phone calls and letters to keep on coming, and your neighbors and family members may start receiving calls too.
Finally, as your account comes close to charge off, the credit company may give you a settlement offer. These offers from your creditors usually start at around 50 to 80 percent. If you can hold out and negotiate, you can sometimes get them to lower your total to 40 or even as low as 20 percent. Keep in mind that a settlement has to be paid back in one lump sum, unless you can negotiate that too.
Once your account charges off, expect that it will go to a collection agency. These agencies are a little more ruthless about calling you and relatives. They do have laws they must follow, but not all of them do!
Finally, you may get taken to court, and may have your wages garnished or a lien placed on your property. Anyway you look at it; a non payment of credit card scenario is something you want to avoid.
วันศุกร์ที่ 19 ธันวาคม พ.ศ. 2551
วันพุธที่ 17 ธันวาคม พ.ศ. 2551
Do I Need Another Credit Card?
Do I Need Another Credit Card?
A credit card can be good and evil at the same time. Depending on how you use it, you can use it for good or use it against yourself. For example, if you use it to purchase items from the mall, use it moderately and you will be safe but when you go overboard and spend on every little thing, it might hurt you in the long run. This is because the more debt you have with your card, the more difficult it would be to settle your debt. If you do not have money for you day to day spending how are you going to spend on paying of your credit card bills or pay the high interest amount. This is the main reason why many people have to file for bankruptcy. They do not know how to use the credit card wisely and end up losing everything in the end. Therefore, when you are considering of getting a credit card, be sure to think about it over and over again. Ask questions on whether you will be able to repay the monthly payment, how would you control your spending, what you would spend using the credit card and are you prepared to face any consequences such as bankruptcy in life. People who really get stuck up in between have poor future and is not even good for their family and even the family pays a big price. These are essentials to know if you are ready for such a big responsibility. When you have a credit card, it is your responsibility to take care of all your financial problems. As long as you make sure that you pay back on time and avoid over spending on the card, everything will be fine. However, it is advisable to NOT apply for any credit cards. This is for your own good. Why need a credit card when there is a debit card available. Debit card is way better because you can only use it when you have the money. You have to preload the card with your own money before you can use it so you don't end up in a pile of debt. Think about it before you decide on applying. You should not take hasty option as it can land you into serious trouble and to avoid this proper planning is required on your part. In the long haul, if you do decide to get a credit card regardless if it's your first or 100th card, there are a few things that you should keep in mind. I know I'll sound like your parents when you're growing up but there are only a few rules you need to follow and you really can take advantage of the rewards. Pay your credit cards off on time and pay them in full. As long as you're disciplined enough to do so, you will have no problem. Don't be like 60% of America, where they can't pay their bills off at all in full.
A credit card can be good and evil at the same time. Depending on how you use it, you can use it for good or use it against yourself. For example, if you use it to purchase items from the mall, use it moderately and you will be safe but when you go overboard and spend on every little thing, it might hurt you in the long run. This is because the more debt you have with your card, the more difficult it would be to settle your debt. If you do not have money for you day to day spending how are you going to spend on paying of your credit card bills or pay the high interest amount. This is the main reason why many people have to file for bankruptcy. They do not know how to use the credit card wisely and end up losing everything in the end. Therefore, when you are considering of getting a credit card, be sure to think about it over and over again. Ask questions on whether you will be able to repay the monthly payment, how would you control your spending, what you would spend using the credit card and are you prepared to face any consequences such as bankruptcy in life. People who really get stuck up in between have poor future and is not even good for their family and even the family pays a big price. These are essentials to know if you are ready for such a big responsibility. When you have a credit card, it is your responsibility to take care of all your financial problems. As long as you make sure that you pay back on time and avoid over spending on the card, everything will be fine. However, it is advisable to NOT apply for any credit cards. This is for your own good. Why need a credit card when there is a debit card available. Debit card is way better because you can only use it when you have the money. You have to preload the card with your own money before you can use it so you don't end up in a pile of debt. Think about it before you decide on applying. You should not take hasty option as it can land you into serious trouble and to avoid this proper planning is required on your part. In the long haul, if you do decide to get a credit card regardless if it's your first or 100th card, there are a few things that you should keep in mind. I know I'll sound like your parents when you're growing up but there are only a few rules you need to follow and you really can take advantage of the rewards. Pay your credit cards off on time and pay them in full. As long as you're disciplined enough to do so, you will have no problem. Don't be like 60% of America, where they can't pay their bills off at all in full.
วันศุกร์ที่ 12 ธันวาคม พ.ศ. 2551
Top Tips for Finding the Best Credit Card
Top Tips for Finding the Best Credit Card
Offering the user a convenient and flexible method of payment, credit cards can be a great way to help you manage your money. Not only that, but they are essential for establishing your credit record; allowing you to build up a good credit rating to help you in your application for such things as loans.
And it is good for consumers to understand that there are some excellent incentives available from choosing to use a credit card. As such, it is important that you choose the right one that is suitable for your needs. So, it is worthwhile taking some time to understand which package will work best for you.
One of the first things you should do, whether you are applying for a credit card for the first time, or are thinking of transferring your existing balance, is to analyse both your lifestyle and payment habits. For instance, are you a frequent traveller or do you like to indulge in retail therapy at every opportunity?
By ascertaining how you spend money, you will then be able to look for credit cards that can offer rewards related to your lifestyle. Consequently, if you tend to shop in the same places on a regular basis, then it could be worth looking for a deal that will give you points for every time you spend on the card. Alternatively, if you travel a lot, it may be wise to find a package offering air miles.
The rate of interest is another important consideration. There are many credit card deals that may seem like a great deal to begin with, but then hit you with massive interest rates after a period of time. As a result, beware about being drawn in simply because of an incentive scheme by making sure you fully understand all the terms and conditions.
It is also be beneficial to find out if the card charges an annual fee. If the package is a basic one, i.e. no extra frills, you shouldn't have to pay anything aside from the interest; however, some of the companies that offer such deals may charge for the privilege. Therefore, it subsequently pays to ensure you carefully weigh up the benefits of the incentive against the added costs.
Indeed, when you are searching for credit cards, it is essential that you do your homework. In doing so, you are making sure that you are finding the best deal to suit your circumstances, as well as potentially earning some great rewards.
Internet credit card spending booming
Internet credit card spending booming
Brits have been spending more than ever online this Christmas as they attempt to avoid the mayhem of the rainy and busy streets this festive season.
There are many benefits to shopping online and these benefits seem to have convinced a staggering amount of shoppers that online is the way forward.
In a poll by credit card company Egg, four out of five shoppers questioned said that they were carrying out most of their Christmas shopping using the internet this year.
They were attracted by offers and discounts only available to online shoppers, a wider range of products available, the convenience and the fact that they could avoid the crowded high streets.
Many also said that security was an important factor in choosing to shop online, with over half 54 per cent) of respondents said they prefer to use their credit card for payment as most purchases will be insured.
In addition, 38 per cent stated that they use the cards to make the most of online fraud protection, often not available on high street purchases.
"It's good to see that people realise the benefits of using a credit card online in terms of insurance on purchases and fraud protection. Customers should also remember other benefits, such as cashback," remarked Egg spokesperson Vanessa Wood.
Customers are also feeling increasingly wary of the high street as shops are scrambling for profits and many are sinking into administration.
This week Woolworths and MFI both collapsed into administration putting 31,000 jobs at risk, and it seems worse could be to come, with predictions of Christmas expenditure reaching an all time low.
With so many stores struggling financially, shoppers are worried that by shopping on the high street with cash they could have no insurance should they need an exchange or guarantee honoured in the quite likely event the shop is no longer trading.
Companies are attempting to entice customers in with store cards which come with discounts and benefits, however they are accompanied by sky high APRs which could cripple users.
The rates, which have always been high are continuing to rise, with some high street stores pushing store cards with APRs as high as 25%.
In an attempt to bring a little order to their Christmas shopping budget, savvy shoppers are opting to shop online, away from pushy shop assistants heralding store cards and the temptations of high street offers.
Brits have been spending more than ever online this Christmas as they attempt to avoid the mayhem of the rainy and busy streets this festive season.
There are many benefits to shopping online and these benefits seem to have convinced a staggering amount of shoppers that online is the way forward.
In a poll by credit card company Egg, four out of five shoppers questioned said that they were carrying out most of their Christmas shopping using the internet this year.
They were attracted by offers and discounts only available to online shoppers, a wider range of products available, the convenience and the fact that they could avoid the crowded high streets.
Many also said that security was an important factor in choosing to shop online, with over half 54 per cent) of respondents said they prefer to use their credit card for payment as most purchases will be insured.
In addition, 38 per cent stated that they use the cards to make the most of online fraud protection, often not available on high street purchases.
"It's good to see that people realise the benefits of using a credit card online in terms of insurance on purchases and fraud protection. Customers should also remember other benefits, such as cashback," remarked Egg spokesperson Vanessa Wood.
Customers are also feeling increasingly wary of the high street as shops are scrambling for profits and many are sinking into administration.
This week Woolworths and MFI both collapsed into administration putting 31,000 jobs at risk, and it seems worse could be to come, with predictions of Christmas expenditure reaching an all time low.
With so many stores struggling financially, shoppers are worried that by shopping on the high street with cash they could have no insurance should they need an exchange or guarantee honoured in the quite likely event the shop is no longer trading.
Companies are attempting to entice customers in with store cards which come with discounts and benefits, however they are accompanied by sky high APRs which could cripple users.
The rates, which have always been high are continuing to rise, with some high street stores pushing store cards with APRs as high as 25%.
In an attempt to bring a little order to their Christmas shopping budget, savvy shoppers are opting to shop online, away from pushy shop assistants heralding store cards and the temptations of high street offers.
Teenagers Can Get Top Card Offers From Credit Card Companies
Teenagers Can Get Top Card Offers From Credit Card Companies
Today, the vast majority of transactions for purchases, both online and offline are conducted by means of credit and debit cards and it is increasingly hard for anyone to fully function in today's market without having access to these convenient cards. Teenagers are also finding it a challenge to be engaged in the average lifestyle in America without having a credit card available and in response to this need there are several top card companies that are now providing products and credit card deals that are tailored especially for teenage customers.
Of course, in order for a teenager to accept credit card deals and submit a credit card application, they do need to be at least 18 years old in order to enter into a legal contract with any company. But, there are numerous companies today that offer special rates and incentives for student credit cards with the hope that they will end up with a new customer who will continue using their credit cards for many years to come, as they move through their college years and into their adult lives.
Teenagers who are headed off to college should seek out their parents help and advice when they are looking for the top card offers and credit card deals that are available for student credit cards. Many times, when parents have a company that they have had an account with for years and are happy with they can easily help their student get their own credit card with very little trouble.
However, when it comes to finding the best student credit card deals it can make sense to shop around and look at as many offers as possible before filling out any application and submitting it. One of the most important things to look at when considering credit cards for teenagers is the long term interest rate that is being offered, and it should be noted to pay very close attention to that phrase "long term."
One of the things that many companies do to get listed among the top deals is to offer a very low introductory interest rate and some will even offer a zero percent rate for the first six months or even during the first year. But those introductory periods go by very quickly and it is much more important to choose a one that has the lowest long term rates.
In addition, both the parents and the teenagers should carefully read through all of the additional terms and conditions that are part of the agreement that the teenage credit card user will be bound by once they open their new account. Check to see if there is an annual fee and how much it is. In most cases, you will find comparable credit card offers that do not charge annual fees, so you can often eliminate those offers right off the bat.
Another important factor to take a careful look at when evaluating the various top card offers that a student will receive, is to carefully review the various penalties and fees that might be imposed by the credit card company if the teen misses a payment or goes over their limit. Often, the card companies not only impose these fees but they will also raise the interest rate, making the card not so attractive any longer to the teen or their parents.
Today, the vast majority of transactions for purchases, both online and offline are conducted by means of credit and debit cards and it is increasingly hard for anyone to fully function in today's market without having access to these convenient cards. Teenagers are also finding it a challenge to be engaged in the average lifestyle in America without having a credit card available and in response to this need there are several top card companies that are now providing products and credit card deals that are tailored especially for teenage customers.
Of course, in order for a teenager to accept credit card deals and submit a credit card application, they do need to be at least 18 years old in order to enter into a legal contract with any company. But, there are numerous companies today that offer special rates and incentives for student credit cards with the hope that they will end up with a new customer who will continue using their credit cards for many years to come, as they move through their college years and into their adult lives.
Teenagers who are headed off to college should seek out their parents help and advice when they are looking for the top card offers and credit card deals that are available for student credit cards. Many times, when parents have a company that they have had an account with for years and are happy with they can easily help their student get their own credit card with very little trouble.
However, when it comes to finding the best student credit card deals it can make sense to shop around and look at as many offers as possible before filling out any application and submitting it. One of the most important things to look at when considering credit cards for teenagers is the long term interest rate that is being offered, and it should be noted to pay very close attention to that phrase "long term."
One of the things that many companies do to get listed among the top deals is to offer a very low introductory interest rate and some will even offer a zero percent rate for the first six months or even during the first year. But those introductory periods go by very quickly and it is much more important to choose a one that has the lowest long term rates.
In addition, both the parents and the teenagers should carefully read through all of the additional terms and conditions that are part of the agreement that the teenage credit card user will be bound by once they open their new account. Check to see if there is an annual fee and how much it is. In most cases, you will find comparable credit card offers that do not charge annual fees, so you can often eliminate those offers right off the bat.
Another important factor to take a careful look at when evaluating the various top card offers that a student will receive, is to carefully review the various penalties and fees that might be imposed by the credit card company if the teen misses a payment or goes over their limit. Often, the card companies not only impose these fees but they will also raise the interest rate, making the card not so attractive any longer to the teen or their parents.
วันพุธที่ 10 ธันวาคม พ.ศ. 2551
Credit Card Reduction Solution
Credit Card Reduction Solution
by Kristie Chiles
We all like to shop and most of us like to spend, but when we have overdone it, we begin looking for a credit card debt reduction solution. Very few people stop to truly think about the amount of money that they are spending because the cash is not visually seen. Most people in this nation seem to have a very hard time with credit card debt management and now many of us are looking for a way to reduce our debt with a solution - an answer to all those wonderful shopping trips. While those who refuse to sign up for credit cards, are often times viewed, as something is wrong with them since everyone has credit cards. They are actually the wiser ones to limit their spending.
The idea is not to do what everyone else is doing and try to focus on putting your money towards a credit card debt reduction solution. . Instead of spending money on things that you really do not need, you should be putting every extra dollar you have towards your current balances on your various credit cards. While it may a long process, depending on the amount of credit debt you have, a credit card debt reduction solution is something that can be done if you really put your mind to it. It simply takes focus, dedication, and a strong desire to be eventually debt free. You have to really want to do it, more than you give into the desire to spend.
Some Outside Help
When it comes to credit card debt elimination, some people find that they are not able to do it alone. Be it compulsive spending or just bad money management, there are people who need help from an outside source. This is nothing to feel bad about because as long as you are working on the goal of eventual credit card debt elimination, you are on the right path and have the best of intentions. If you have the money available to work on the credit debt that you have then you may want to seek a friend or family member who can help you budget your money. If you barely have enough to cover the minimum payments each month then you need to seek a different kind of help, a professional person to put you on a monthly plan.
Credit card debt reduction plans are sometimes easier done with the help of an outside source. There are a lot of organizations and companies out there that can assist you in either consolidating your debt or getting it more affordable each month. Sometimes, the idea is to simply get your interest rates lowered which means more of your monthly payments would go towards principal.
The consolidation works well because it pays off all of your creditors and then you will only be making one monthly payment with one interest rate to face. Either route is a great way to go about credit card debt reduction but the route you pick will be what fits your individual situation the best and what works best with your spending habits and personal habits.
by Kristie Chiles
We all like to shop and most of us like to spend, but when we have overdone it, we begin looking for a credit card debt reduction solution. Very few people stop to truly think about the amount of money that they are spending because the cash is not visually seen. Most people in this nation seem to have a very hard time with credit card debt management and now many of us are looking for a way to reduce our debt with a solution - an answer to all those wonderful shopping trips. While those who refuse to sign up for credit cards, are often times viewed, as something is wrong with them since everyone has credit cards. They are actually the wiser ones to limit their spending.
The idea is not to do what everyone else is doing and try to focus on putting your money towards a credit card debt reduction solution. . Instead of spending money on things that you really do not need, you should be putting every extra dollar you have towards your current balances on your various credit cards. While it may a long process, depending on the amount of credit debt you have, a credit card debt reduction solution is something that can be done if you really put your mind to it. It simply takes focus, dedication, and a strong desire to be eventually debt free. You have to really want to do it, more than you give into the desire to spend.
Some Outside Help
When it comes to credit card debt elimination, some people find that they are not able to do it alone. Be it compulsive spending or just bad money management, there are people who need help from an outside source. This is nothing to feel bad about because as long as you are working on the goal of eventual credit card debt elimination, you are on the right path and have the best of intentions. If you have the money available to work on the credit debt that you have then you may want to seek a friend or family member who can help you budget your money. If you barely have enough to cover the minimum payments each month then you need to seek a different kind of help, a professional person to put you on a monthly plan.
Credit card debt reduction plans are sometimes easier done with the help of an outside source. There are a lot of organizations and companies out there that can assist you in either consolidating your debt or getting it more affordable each month. Sometimes, the idea is to simply get your interest rates lowered which means more of your monthly payments would go towards principal.
The consolidation works well because it pays off all of your creditors and then you will only be making one monthly payment with one interest rate to face. Either route is a great way to go about credit card debt reduction but the route you pick will be what fits your individual situation the best and what works best with your spending habits and personal habits.
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