Credit Cards in the UK
Credit cards are pretty popular and in widespread use in UK. Credit cards are accepted at most shops and other merchant stores/outlets. As in the US, UK credit cards too are on offer from various banks and financial institutions. Again, UK credit cards too offer a number of benefits which vary from one UK credit card to another (though there are a lot of common benefits too which are same across various UK credit cards).
Due to the fierce competition in the UK credit card market, various UK credit card suppliers offer attractive balance transfer schemes too. There are some UK credit cards that offer 0% balance transfer for 9 months and there are others that offer 0% for 6 months. However, the catch here is that these UK card credit suppliers differ on their standard APR rate i.e. the APR rate which comes into effect after the expiry of the introductory 0% balance transfer offer. Further there are some UK credit cards that do not offer a 0% balance transfer but instead offer a better standard rate (APR) throughout. Some UK credit card suppliers combine 0% offers with accrual of points on a rewards programme. Another popular thing among UK credit cards is to combine cash back offers with balance transfers. Then there are some very attractive offers which give 0% not only on balance transfers but also on Purchases (for a short period like 5 month or so). You also have a few UK credit cards that can be procured by people with bad credit history too (of course, the decision on approval of such a credit card application will lie with the credit card supplier).
So what does one do if one wants to transfer balance to another UK credit card. Well, it's quite simple. You need to take stock of your current financial situation and determine if a period of 6 months or 9 months (or maybe even 12 months) would be sufficient for you to fully payback the dues on your UK credit card. If the answer is in the affirmative, just go ahead for the UK credit card that offers 0% balance transfer for this period (even if the standard APR rate is a bit higher). However, the assumption here is that once you payback the debt on your UK credit card, you will stick to controlled spending and will pay your credit card bills in full amount by the due date for payment; otherwise, the choice of a higher standard APR will hit you very hard and you will be in deeper trouble. However, if you think that 9 months is not sufficient to pay back the debt on your UK credit card, then you should look to strike a balance between the zero APR period and the standard APR rate, and choose a UK credit card which leads to the least total outgo (you will need to sit with a calculator and calculate the total outgo on various UK credit card offers).
This is the most basic aspect that you need to consider before you decide on which UK credit card is the best for transferring balance. Other things like 0% on purchases, reward programmer points etc are secondary things.
วันพฤหัสบดีที่ 17 ธันวาคม พ.ศ. 2552
วันอังคารที่ 8 ธันวาคม พ.ศ. 2552
Help Students Stay Away from Student Credit Card Debt
Help Students Stay Away from Student Credit Card Debt
As a college student, you may agree that life is not easy all the time. Aside from the challenges of dealing with peers and professors, passing exams, and keeping up with the daily school activities, financial issues can also add to the pressure. Many college students today find themselves confronted with the burden of debt on their shoulders.
According to surveys, students with bad credit all have one thing in common - unpaid student credit card debt. According to the Consolidated Credit Counseling Services Inc. 40% of college students get at least one student credit card on their freshmen year, while 20% apply for student credit cards while they're in still high school.
True, getting approved for a student credit card is fairly easy and owning a student credit card does have its advantages. Unfortunately, most students with credit cards don't know how to handle their student credit cards correctly. A study conducted by Nellie Mae, a leading student loan lending company, reveals that in 2001, 83% of undergraduate students own a credit card- each with existing balances that amount to $2,327 on average. Imagine how difficult it could be for a student to pay off a credit card balance of $2,000 in full.
Surviving Student Credit Card Debt
Are you a student yourself? The best thing to do to avoid student credit card debt is to handle your student credit card with caution. Financial experts agree that student credit cards can be a great tool in building your credit history. But don't let the convenience of a student credit card lead you to overspending and eventually, bad debt.
What every student must realize is that each time they use their student credit card for a purchase or for a charge, he or she has the obligation to pay it back on time. Other students may reason out that they have the option to pay only the minimum payment required and carry over their balance for the next billing period. But such reasoning can easily lead to unmanageable debt. Remember, if you carry over your balance from month to month, you incur the high interest rate charges and you increase the risk of building up debts in your account. That is why, all credit card holders - not only students - are advised to pay off their monthly balances in full at all times.
Parents also play a big role in helping young people understand their obligations as new credit card holders. In choosing a student credit card, you can work with your teen-ager and guide them with their choice. You may share your own experiences as a credit card owner as well. You may also recommend a particular student credit card that you think offers the better deal. Encourage your kids to read the credit card's Terms and Conditions in full so that they can personally understand what they're signing up for. Emphasize the importance of building a credit history. Teach your kids how they can take care of their credit and keep it in a good or excellent status.
As a college student, you may agree that life is not easy all the time. Aside from the challenges of dealing with peers and professors, passing exams, and keeping up with the daily school activities, financial issues can also add to the pressure. Many college students today find themselves confronted with the burden of debt on their shoulders.
According to surveys, students with bad credit all have one thing in common - unpaid student credit card debt. According to the Consolidated Credit Counseling Services Inc. 40% of college students get at least one student credit card on their freshmen year, while 20% apply for student credit cards while they're in still high school.
True, getting approved for a student credit card is fairly easy and owning a student credit card does have its advantages. Unfortunately, most students with credit cards don't know how to handle their student credit cards correctly. A study conducted by Nellie Mae, a leading student loan lending company, reveals that in 2001, 83% of undergraduate students own a credit card- each with existing balances that amount to $2,327 on average. Imagine how difficult it could be for a student to pay off a credit card balance of $2,000 in full.
Surviving Student Credit Card Debt
Are you a student yourself? The best thing to do to avoid student credit card debt is to handle your student credit card with caution. Financial experts agree that student credit cards can be a great tool in building your credit history. But don't let the convenience of a student credit card lead you to overspending and eventually, bad debt.
What every student must realize is that each time they use their student credit card for a purchase or for a charge, he or she has the obligation to pay it back on time. Other students may reason out that they have the option to pay only the minimum payment required and carry over their balance for the next billing period. But such reasoning can easily lead to unmanageable debt. Remember, if you carry over your balance from month to month, you incur the high interest rate charges and you increase the risk of building up debts in your account. That is why, all credit card holders - not only students - are advised to pay off their monthly balances in full at all times.
Parents also play a big role in helping young people understand their obligations as new credit card holders. In choosing a student credit card, you can work with your teen-ager and guide them with their choice. You may share your own experiences as a credit card owner as well. You may also recommend a particular student credit card that you think offers the better deal. Encourage your kids to read the credit card's Terms and Conditions in full so that they can personally understand what they're signing up for. Emphasize the importance of building a credit history. Teach your kids how they can take care of their credit and keep it in a good or excellent status.
วันจันทร์ที่ 7 ธันวาคม พ.ศ. 2552
Apply Credit card without any hassle and avail facilites
Apply Credit card without any hassle and avail facilites
Direct payment facilities and the availability of cash with any two cards are an excellent financial partner. If you want to direct payments or financial crisis, a credit card, help needed. Do you intend to apply for credit? Some of the instructions are written for you.
Some credit card companies, banks offer credit card facilities. You can meet them in person. Case to obtain a better agreement, which compares various credit is much more useful.
If you are a bit timing, the online option is the best choice. Some credit card companies offer services online. You can apply for a credit card over the Internet, you no extra effort. Sites, credit card services are always available. Front, you can request a credit card at any how.
Possibility of online application is simple. To think that when the turmoil of extra paperwork in front of the application for a credit card. Online credit card application is simple and easy. Here you should fill in an online application to get you to the site only. Filling out an application, you can hardly spend 5-7 minutes. Then you can automatically contact the company. Online information about the sites are safe for our customers, so you should not fear the security of your information.
Although applying for a credit card, many people are trying to lower credit card. In such cases, where some things in mind, it is necessary. Many credit card companies, which are attractive to people who talk about low credit card. But many times, some of the hidden costs are included in the card. So the first carefully read the terms of the card and then apply for a credit card.
Many of the companies offering 0 interest free credit card during the month of April or during the open. After the end of an interest rate increase. So make sure what the advantage is of benefit to you or to any other
What is a credit score? Include it in first and then apply for a credit card. You know, a good credit score is always the best way to answer the question low. So, first check your credit score is excellent. To check your credit score to help the various credit rating agencies may also be useful.
Increased competition has established various credit to bad credit people. If you have a bad credit scorer, you can also apply for a credit card without worrying about your bad credit score.
So, start looking for an application for a credit card.
Direct payment facilities and the availability of cash with any two cards are an excellent financial partner. If you want to direct payments or financial crisis, a credit card, help needed. Do you intend to apply for credit? Some of the instructions are written for you.
Some credit card companies, banks offer credit card facilities. You can meet them in person. Case to obtain a better agreement, which compares various credit is much more useful.
If you are a bit timing, the online option is the best choice. Some credit card companies offer services online. You can apply for a credit card over the Internet, you no extra effort. Sites, credit card services are always available. Front, you can request a credit card at any how.
Possibility of online application is simple. To think that when the turmoil of extra paperwork in front of the application for a credit card. Online credit card application is simple and easy. Here you should fill in an online application to get you to the site only. Filling out an application, you can hardly spend 5-7 minutes. Then you can automatically contact the company. Online information about the sites are safe for our customers, so you should not fear the security of your information.
Although applying for a credit card, many people are trying to lower credit card. In such cases, where some things in mind, it is necessary. Many credit card companies, which are attractive to people who talk about low credit card. But many times, some of the hidden costs are included in the card. So the first carefully read the terms of the card and then apply for a credit card.
Many of the companies offering 0 interest free credit card during the month of April or during the open. After the end of an interest rate increase. So make sure what the advantage is of benefit to you or to any other
What is a credit score? Include it in first and then apply for a credit card. You know, a good credit score is always the best way to answer the question low. So, first check your credit score is excellent. To check your credit score to help the various credit rating agencies may also be useful.
Increased competition has established various credit to bad credit people. If you have a bad credit scorer, you can also apply for a credit card without worrying about your bad credit score.
So, start looking for an application for a credit card.
วันศุกร์ที่ 4 ธันวาคม พ.ศ. 2552
New York Credit Card Debt Settlement and California Credit Card Debt Settlement
New York Credit Card Debt Settlement and California Credit Card Debt Settlement
When searching for New York Credit Card Debt Settlement and California Credit Card Debt Settlement help, you may want to check out www.emergesettlement.com and discover why most people searching for help with their New York Credit Card Debt Settlement and California Credit Card Debt Settlement problems, choose them immediately. If you have looked at credit card debt programs, then you should know they are generally funded by the credit card companies themselves and probably not the best choice for New York credit card debt settlement and California credit card debt settlement. The intent with these is to assist you in paying back your debt IN FULL. With these types of companies they consolidate your bills into one monthly payment with possible lower interest rates and fees. However going this route can result in you taking 4-7 years to pay down. With those credit counseling compnaies, overall fees of an average credit counseling program are equivalent to or greater than those of a debt settlement programs. So this means that you will end up paying back your full balance plus some interest. This is often viewed by lending institutions as similar to Chapter 13 Bankruptcy. Also If you miss multiple payments, you may be subject to paying back past interest at your prior to program rates. So the other option is to choose Emerge America to assist you relieve the stress of dealing with New York credit card debt settlement and California credit card debt settlement problems. You can visit their site at http://www.emergesettlement.com and discover more info on dealing with New York credit card debt settlement, California credit card debt settlement, and more debt issues you may be dealing with.
When searching for New York Credit Card Debt Settlement and California Credit Card Debt Settlement help, you may want to check out www.emergesettlement.com and discover why most people searching for help with their New York Credit Card Debt Settlement and California Credit Card Debt Settlement problems, choose them immediately. If you have looked at credit card debt programs, then you should know they are generally funded by the credit card companies themselves and probably not the best choice for New York credit card debt settlement and California credit card debt settlement. The intent with these is to assist you in paying back your debt IN FULL. With these types of companies they consolidate your bills into one monthly payment with possible lower interest rates and fees. However going this route can result in you taking 4-7 years to pay down. With those credit counseling compnaies, overall fees of an average credit counseling program are equivalent to or greater than those of a debt settlement programs. So this means that you will end up paying back your full balance plus some interest. This is often viewed by lending institutions as similar to Chapter 13 Bankruptcy. Also If you miss multiple payments, you may be subject to paying back past interest at your prior to program rates. So the other option is to choose Emerge America to assist you relieve the stress of dealing with New York credit card debt settlement and California credit card debt settlement problems. You can visit their site at http://www.emergesettlement.com and discover more info on dealing with New York credit card debt settlement, California credit card debt settlement, and more debt issues you may be dealing with.
วันอังคารที่ 1 ธันวาคม พ.ศ. 2552
Interest Free Credit Cards - Top 6 Tips
Interest Free Credit Cards - Top 6 Tips
An interest free credit card can be a sensible way to consolidate debts or make a purchase without paying high monthly interest. But it will only work for you if you remember when the offer ends and repay the balance before then.
1. Compare a range of cards across different providers
You may feel it is easier to stay with your current lender but it is important to research all different types of card - they will have different terms and conditions depending where you go, and depending on your current credit rating.
2. Look into the main different types of card to decide which is right for you
There are two main types of interest free cards. 0 per cent on purchases credit cards are best for people without any current debt and usually need to be paid off in full before the promotion period ends. 0 per cent balance transfer cards work better for people who wish to stop paying interest on debts they already owe. These work well for people who have debt but can pay it off within the time period specified - usually 6-12 months.
3. Don't make purchases on a 0 per cent balance transfer card
If you choose to go with the 0 per cent balance transfer option, remember, this will usually mean that any purchases made on that card will incur a high interest rate. It's important to focus on paying off the debt and to be careful not to use this card to make purchases.
4. Pay off the balance before the promotional period ends
Credit providers make their money from people who forget to pay off their debts on the card before the interest free offer ends. In most cases, these types of card will incur very high interest payments later on to recoup any loss made from the free period - make sure you remember to pay it off before then!
5. If you won't be able to pay off the debt in time, don't choose an interest free card
If you may take a longer time to pay off your debt, or are concerned you might forget to pay off the balance in time, a lifetime balance credit card may suit your needs better. They allow you to pay off a larger debt over a longer period of time. While you sill pay interest, it will be a lot less than leaving the debt with the interest free card for a long period after the interest free promotion period has ended.
6. Remember to read the small print before signing
Never sign an agreement unless you know you can keep up the monthly repayments and are absolutely happy with the terms and conditions. Otherwise you could be met with unpleasant surprises later on, such as extremely high interest on repayments further into the future.
An interest free credit card can be a sensible way to consolidate debts or make a purchase without paying high monthly interest. But it will only work for you if you remember when the offer ends and repay the balance before then.
1. Compare a range of cards across different providers
You may feel it is easier to stay with your current lender but it is important to research all different types of card - they will have different terms and conditions depending where you go, and depending on your current credit rating.
2. Look into the main different types of card to decide which is right for you
There are two main types of interest free cards. 0 per cent on purchases credit cards are best for people without any current debt and usually need to be paid off in full before the promotion period ends. 0 per cent balance transfer cards work better for people who wish to stop paying interest on debts they already owe. These work well for people who have debt but can pay it off within the time period specified - usually 6-12 months.
3. Don't make purchases on a 0 per cent balance transfer card
If you choose to go with the 0 per cent balance transfer option, remember, this will usually mean that any purchases made on that card will incur a high interest rate. It's important to focus on paying off the debt and to be careful not to use this card to make purchases.
4. Pay off the balance before the promotional period ends
Credit providers make their money from people who forget to pay off their debts on the card before the interest free offer ends. In most cases, these types of card will incur very high interest payments later on to recoup any loss made from the free period - make sure you remember to pay it off before then!
5. If you won't be able to pay off the debt in time, don't choose an interest free card
If you may take a longer time to pay off your debt, or are concerned you might forget to pay off the balance in time, a lifetime balance credit card may suit your needs better. They allow you to pay off a larger debt over a longer period of time. While you sill pay interest, it will be a lot less than leaving the debt with the interest free card for a long period after the interest free promotion period has ended.
6. Remember to read the small print before signing
Never sign an agreement unless you know you can keep up the monthly repayments and are absolutely happy with the terms and conditions. Otherwise you could be met with unpleasant surprises later on, such as extremely high interest on repayments further into the future.
วันจันทร์ที่ 16 พฤศจิกายน พ.ศ. 2552
Eliminate Credit Card Debt by 60% - How to Legally Never Pay Back Your Credit Card Debts
Eliminate Credit Card Debt by 60% - How to Legally Never Pay Back Your Credit Card Debts
The 2007 Survey of Consumer Finances Indicated that households in America own at least one credit card. Of course, we all know that it is very difficult to manage one's finances with just one card. Each and every earning member in the family often has one card. We even get add on cards for our children as well. In such a scenario, it is very easy for card debts to rise very quickly. Before you know it, interest payments begin to hurt and monthly payment to your card issuer becomes difficult to manage.
The desire to get rid of credit card debt without repaying it in full is often considered wishful thinking. Even in worst case scenarios, card issuers offer a waiver of the penalties and penal interest charged. This too has to be fought tooth and nail before the card issuers sign on the dotted line. Before the recession hit the economy, suggesting a waiver of a portion of the principal amount would have been met with derision. However, that was before credit card debt settlements became popular.
Credit card issuers were too aggressive and too greedy for their own good. When the recession occurred and the housing bubble burst, hundreds and thousands of individuals sought legal protection to escape their debts. Lenders had invested their money in toxic assets. They found themselves facing the problem of reduction in value of assets and lowering of incomes. Left with no choice, they started offering generous settlements to their customers to keep the cash flowing.
Use the World Wide Web to find the right settlement service provider. Your credit card debt will be waived by 60 - 70% instantly. This represents that portion of your debt which you need not pay back. This represents money that you have saved-permanently. You will have to tolerate a fall in your credit score in exchange of this waiver. You should opt for this option only if bankruptcy is the only other option left.
If you use the web, you will find genuine, efficient and completely legal remedies to tackle your high credit card debt.
Getting out of debt through a debt settlement process is currently very popular but you need to know where to locate the best performing programs in order to get the best deals. To compare debt settlement companies it would be wise to visit a free debt relief network which will locate the best performing companies in your area for free.
The 2007 Survey of Consumer Finances Indicated that households in America own at least one credit card. Of course, we all know that it is very difficult to manage one's finances with just one card. Each and every earning member in the family often has one card. We even get add on cards for our children as well. In such a scenario, it is very easy for card debts to rise very quickly. Before you know it, interest payments begin to hurt and monthly payment to your card issuer becomes difficult to manage.
The desire to get rid of credit card debt without repaying it in full is often considered wishful thinking. Even in worst case scenarios, card issuers offer a waiver of the penalties and penal interest charged. This too has to be fought tooth and nail before the card issuers sign on the dotted line. Before the recession hit the economy, suggesting a waiver of a portion of the principal amount would have been met with derision. However, that was before credit card debt settlements became popular.
Credit card issuers were too aggressive and too greedy for their own good. When the recession occurred and the housing bubble burst, hundreds and thousands of individuals sought legal protection to escape their debts. Lenders had invested their money in toxic assets. They found themselves facing the problem of reduction in value of assets and lowering of incomes. Left with no choice, they started offering generous settlements to their customers to keep the cash flowing.
Use the World Wide Web to find the right settlement service provider. Your credit card debt will be waived by 60 - 70% instantly. This represents that portion of your debt which you need not pay back. This represents money that you have saved-permanently. You will have to tolerate a fall in your credit score in exchange of this waiver. You should opt for this option only if bankruptcy is the only other option left.
If you use the web, you will find genuine, efficient and completely legal remedies to tackle your high credit card debt.
Getting out of debt through a debt settlement process is currently very popular but you need to know where to locate the best performing programs in order to get the best deals. To compare debt settlement companies it would be wise to visit a free debt relief network which will locate the best performing companies in your area for free.
วันพฤหัสบดีที่ 12 พฤศจิกายน พ.ศ. 2552
Credit Card Debts - How to Reduce Revolving Loans With a Debt Settlement
Credit Card Debts - How to Reduce Revolving Loans With a Debt Settlement
It is very important to know how to manage your credit card debts. Latest statistics indicate that the average American family owes more than ten thousand dollars in the form of revolving debt. This refers to the loans that is accumulated on a monthly basis but which is not repaid in full. Apart from this, the average family owes more than twenty thousand dollars in mortgages, automobile, student and other loans.
Of all these loans, only money owed on credit card is related to day to day expenses of the individual. Hence, it is very important to make sure that you are getting adequate benefits for the price that you are paying for the borrowed money. Otherwise, it just makes sense to settle your debt and move on to a debit card.
Unlike what you read in books or what experts tell you, you cannot take the risk of waiting for the collapse point to arrive before taking steps to settle your loan. You should anticipate debt problems and take action accordingly.
Settlement is a very convenient way to keep your loans under control. This is nothing but a waiver received from card issuers. The waiver may range from fifty percent to seventy percent of the original amount owed. Once you have the written agreement in your hands, your credit card dues will come down instantly without any repayment.
All you need to do is repay the remaining amount. This is enough to settle your debt and become free from all loan related problems. Even if you do not reduce your card dues to zero, you can always keep it under control at all times.
There are a few disadvantages involved in settlement. There is no financial tool that offers 100% benefits with zero disadvantages. However, no disadvantage is a deterrent as far as settlement is concerned. If you do not want your family and your future generation to suffer because of your financial mistakes, you should opt for settlement as opposed to bankruptcy. A bankruptcy will stay on your credit history for years at a stretch. Debt settlement can be described as bankruptcy minus its long term harmful consequences.
If you are over $10,000 in unsecured debt it would be wise to utilize a debt relief network instead of going directly to a debt settlement company. Using a debt relief network guarantees that the debt settlement company you choose has been certified and has established success in negotiating settlements. They are free to use and a good starting point to begin your debt relief process.
It is very important to know how to manage your credit card debts. Latest statistics indicate that the average American family owes more than ten thousand dollars in the form of revolving debt. This refers to the loans that is accumulated on a monthly basis but which is not repaid in full. Apart from this, the average family owes more than twenty thousand dollars in mortgages, automobile, student and other loans.
Of all these loans, only money owed on credit card is related to day to day expenses of the individual. Hence, it is very important to make sure that you are getting adequate benefits for the price that you are paying for the borrowed money. Otherwise, it just makes sense to settle your debt and move on to a debit card.
Unlike what you read in books or what experts tell you, you cannot take the risk of waiting for the collapse point to arrive before taking steps to settle your loan. You should anticipate debt problems and take action accordingly.
Settlement is a very convenient way to keep your loans under control. This is nothing but a waiver received from card issuers. The waiver may range from fifty percent to seventy percent of the original amount owed. Once you have the written agreement in your hands, your credit card dues will come down instantly without any repayment.
All you need to do is repay the remaining amount. This is enough to settle your debt and become free from all loan related problems. Even if you do not reduce your card dues to zero, you can always keep it under control at all times.
There are a few disadvantages involved in settlement. There is no financial tool that offers 100% benefits with zero disadvantages. However, no disadvantage is a deterrent as far as settlement is concerned. If you do not want your family and your future generation to suffer because of your financial mistakes, you should opt for settlement as opposed to bankruptcy. A bankruptcy will stay on your credit history for years at a stretch. Debt settlement can be described as bankruptcy minus its long term harmful consequences.
If you are over $10,000 in unsecured debt it would be wise to utilize a debt relief network instead of going directly to a debt settlement company. Using a debt relief network guarantees that the debt settlement company you choose has been certified and has established success in negotiating settlements. They are free to use and a good starting point to begin your debt relief process.
วันพุธที่ 4 พฤศจิกายน พ.ศ. 2552
Credit Card Debt Americans
Credit Card Debt Americans
You may have heard the terms 'good debt or 'bad debts but what products actually make these terms and why do we use them? Amongst the bad debts, there are few names enumerated below that come to the forefront especially in the present day American scenario: Credit Card Debt Americans have problems with credit cards because many of them have huge credit card debts. The interest rates ranging anything between 5% to 30% and balance not paid at each month end cycle, accrue the interest portion even exceeding some time the principal amount drawn as loan.
Some of the credit cards accrue interest on past interest making the total amount of the debt enormously high. It needs lot of care and budgeting to pay in full at each billing date. It also requires restrain on oneself not to buy things beyond somebodys means. In all such credit card payments , it is always very tempting to pay the minimum when somebody responsible enough should pay in full to avoid future financial encumbrances. It is always to be remembered that if you cannot pay in full, at least pay the minimum. Car Loans: To avail a car loan is a bad idea mainly because a car looses it value as soon as it is purchased unlike home or student loan where it escalates or prospects in store.
In very simple terms, any investments you make in purchasing a car starts losing the gain you could have earned otherwise, the moment you drive off the car from the showroom. Further, when one consider that you are going into debts just for the sake of riding a car and that too with higher rate of interest compared to other traditional loans, which will end up costing much more in the end, and finally the resale value will be far less than at what cost you purchased. In a nut-sell, taking loan for a car purchase is a bad debt in the true sense of the term. If somebody is not in a position to pay from his income or manage to pay for the car purchase without taking a car loan, it is better for him not to go for the car purchase by taking a car loan.
Payday Loan: Taking payday loans is probably one of the worst financial decisions that a family man in particular and any person in fixed income group in general, may take. Without any semblance of any doubt, one may surmise that this is a way to end up ruining your credit and putting yourself in unnecessary debt trap. The interest rate of a payday loan is enormously high normally in triple digit plus fees each time you borrow , this loan can only termed as horrendous and possibly the worst type amongst the bad debt category. Once you borrow enough to cover a paycheck , you owe again to the lender your next paycheck which means you will need another round of loan to cover that paycheck and the process repeats itself and the vicious circle will overwhelm the borrower no end. About the author: Joe Kenny writes for Rebuild, offering debt consolidation loans, or for UK residents loans for debt consolidation. Visit today: Loans from Rebuild.org
You may have heard the terms 'good debt or 'bad debts but what products actually make these terms and why do we use them? Amongst the bad debts, there are few names enumerated below that come to the forefront especially in the present day American scenario: Credit Card Debt Americans have problems with credit cards because many of them have huge credit card debts. The interest rates ranging anything between 5% to 30% and balance not paid at each month end cycle, accrue the interest portion even exceeding some time the principal amount drawn as loan.
Some of the credit cards accrue interest on past interest making the total amount of the debt enormously high. It needs lot of care and budgeting to pay in full at each billing date. It also requires restrain on oneself not to buy things beyond somebodys means. In all such credit card payments , it is always very tempting to pay the minimum when somebody responsible enough should pay in full to avoid future financial encumbrances. It is always to be remembered that if you cannot pay in full, at least pay the minimum. Car Loans: To avail a car loan is a bad idea mainly because a car looses it value as soon as it is purchased unlike home or student loan where it escalates or prospects in store.
In very simple terms, any investments you make in purchasing a car starts losing the gain you could have earned otherwise, the moment you drive off the car from the showroom. Further, when one consider that you are going into debts just for the sake of riding a car and that too with higher rate of interest compared to other traditional loans, which will end up costing much more in the end, and finally the resale value will be far less than at what cost you purchased. In a nut-sell, taking loan for a car purchase is a bad debt in the true sense of the term. If somebody is not in a position to pay from his income or manage to pay for the car purchase without taking a car loan, it is better for him not to go for the car purchase by taking a car loan.
Payday Loan: Taking payday loans is probably one of the worst financial decisions that a family man in particular and any person in fixed income group in general, may take. Without any semblance of any doubt, one may surmise that this is a way to end up ruining your credit and putting yourself in unnecessary debt trap. The interest rate of a payday loan is enormously high normally in triple digit plus fees each time you borrow , this loan can only termed as horrendous and possibly the worst type amongst the bad debt category. Once you borrow enough to cover a paycheck , you owe again to the lender your next paycheck which means you will need another round of loan to cover that paycheck and the process repeats itself and the vicious circle will overwhelm the borrower no end. About the author: Joe Kenny writes for Rebuild, offering debt consolidation loans, or for UK residents loans for debt consolidation. Visit today: Loans from Rebuild.org
วันอังคารที่ 3 พฤศจิกายน พ.ศ. 2552
Benefits of your Credit Card
Benefits of your Credit Card
In the highly competitive credit card market, the pressure is on the credit card companies to create and maintain innovative benefit programs to lure and keep customers. One very popular benefit has traditionally been airline miles. However, with the current state of the airline industry and the commonly understood drawbacks of blackout dates and inconvenient travel times (hardly rewards) credit card companies have gone back to the drawing board in order to create a new generation of benefit programs to please the consumer and boost the pull to new customers.
Though many consumers search for low rates or a waiver of the annual fee, other rewards have come into play that distinguish the cards from one another in more interesting, personality driven ways. For example, The Discover Platinum card the annual fee is has been waived and the 0% Intro APR fully touted but it is probably the 5% Cashback Bonus and an option to double your money through shrewdly shopping with Discovers "brand name partners." Discover appears on the list several times, though all the cards are pretty much equally represented.
At the bottom of the list, A CitiBank card geared towards college students. It seems the major benefit to this card is being able to get one with little or no credit. In addition to the 5% back on gas purchases consumers get up to a 5% annual cash reward. Making money just for spending money is the common theme among the cards in the top ten.
Even debit cards are starting to compete with offers to customers. Typically, the credit card's biggest selling point, cash back, cannot be matched by the debit card. Positively, debit cards unlike credits cards usually offer consistent rewards across the board, rather than only offer a percentage or cash back when the shopper buys something at specific stores or "brand name partners". One trick is the debit card rewards are usually based on the signature. This means that although you may have made the purchase, if you put it through by using a pin or "point of sale" purchasing you won't receive the points you might otherwise be owed.
The biggest point with credit card rewards is this: Most information/consumer websites agree that if you are unable to pay your balance off each month the reward you are getting is rarely worth it.
In the highly competitive credit card market, the pressure is on the credit card companies to create and maintain innovative benefit programs to lure and keep customers. One very popular benefit has traditionally been airline miles. However, with the current state of the airline industry and the commonly understood drawbacks of blackout dates and inconvenient travel times (hardly rewards) credit card companies have gone back to the drawing board in order to create a new generation of benefit programs to please the consumer and boost the pull to new customers.
Though many consumers search for low rates or a waiver of the annual fee, other rewards have come into play that distinguish the cards from one another in more interesting, personality driven ways. For example, The Discover Platinum card the annual fee is has been waived and the 0% Intro APR fully touted but it is probably the 5% Cashback Bonus and an option to double your money through shrewdly shopping with Discovers "brand name partners." Discover appears on the list several times, though all the cards are pretty much equally represented.
At the bottom of the list, A CitiBank card geared towards college students. It seems the major benefit to this card is being able to get one with little or no credit. In addition to the 5% back on gas purchases consumers get up to a 5% annual cash reward. Making money just for spending money is the common theme among the cards in the top ten.
Even debit cards are starting to compete with offers to customers. Typically, the credit card's biggest selling point, cash back, cannot be matched by the debit card. Positively, debit cards unlike credits cards usually offer consistent rewards across the board, rather than only offer a percentage or cash back when the shopper buys something at specific stores or "brand name partners". One trick is the debit card rewards are usually based on the signature. This means that although you may have made the purchase, if you put it through by using a pin or "point of sale" purchasing you won't receive the points you might otherwise be owed.
The biggest point with credit card rewards is this: Most information/consumer websites agree that if you are unable to pay your balance off each month the reward you are getting is rarely worth it.
วันอาทิตย์ที่ 1 พฤศจิกายน พ.ศ. 2552
Zero percent credit cards
Zero percent credit cards
With all the hype around these 0% interest rate credit cards, it can be easy to be carried away with what can be easily thought to be a fantastic offer. But don't be fooled by first impressions sometimes buried under the sugar coated surface there may be a deep hole just waiting for you to fall in to and possibly spend many months or even year struggling to climb out off.
So let's shine a light over these 0% interest credit cards and see if they really are what they say they are "a great deal" or are they just a dark financial pits waiting to saddle you with painfully high interest rates for months to come.
The offer of zero interest is only a marketing tool used by credit card providers to attract more customers. So the firs thing you have to understand is that nearly all of these 0% credit cards will only offer a zero rate as an introductory rate and these amazing rates are not permanent and will only apply for a set time period, usually about 12 to 25 weeks. Once there set time period has expired they will always immediately increase to a higher interest rate.
However not all 0% interest credit cards are bad, a savvy borrower can use them to their advantage and get a great benefit from these type of credit cards but to do so will require a certain amount of self-discipline and some financial planning by the cardholder so as to pay of all or at least most of debt before the introductory rates expires.
If you are unsure of the time period of any 0 credit cards you may be thinking of applying for then it is important not to be afraid to ask questions, or clarify the terms of the credit card particularly regarding
1. How long is the introduction rate for?
2. What will the new interest rate be after the introduction period has ended?
3. Does the introduction rate apply to new purchases made with the card, or does it only apply to balance transfers.
Remember a 0% credit card is not always a cheap credit card
With all the hype around these 0% interest rate credit cards, it can be easy to be carried away with what can be easily thought to be a fantastic offer. But don't be fooled by first impressions sometimes buried under the sugar coated surface there may be a deep hole just waiting for you to fall in to and possibly spend many months or even year struggling to climb out off.
So let's shine a light over these 0% interest credit cards and see if they really are what they say they are "a great deal" or are they just a dark financial pits waiting to saddle you with painfully high interest rates for months to come.
The offer of zero interest is only a marketing tool used by credit card providers to attract more customers. So the firs thing you have to understand is that nearly all of these 0% credit cards will only offer a zero rate as an introductory rate and these amazing rates are not permanent and will only apply for a set time period, usually about 12 to 25 weeks. Once there set time period has expired they will always immediately increase to a higher interest rate.
However not all 0% interest credit cards are bad, a savvy borrower can use them to their advantage and get a great benefit from these type of credit cards but to do so will require a certain amount of self-discipline and some financial planning by the cardholder so as to pay of all or at least most of debt before the introductory rates expires.
If you are unsure of the time period of any 0 credit cards you may be thinking of applying for then it is important not to be afraid to ask questions, or clarify the terms of the credit card particularly regarding
1. How long is the introduction rate for?
2. What will the new interest rate be after the introduction period has ended?
3. Does the introduction rate apply to new purchases made with the card, or does it only apply to balance transfers.
Remember a 0% credit card is not always a cheap credit card
วันศุกร์ที่ 30 ตุลาคม พ.ศ. 2552
Easy Approval Credit Card: Sign up in minutes, Get approved fast
Easy Approval Credit Card: Sign up in minutes, Get approved fast
Hi, my name is Essa Shomali,
I was once looking for credit cards all over the internet,
I had good credit and I wanted to get approved very fast,
but most of the websites i tried usually turned me down
(despite the fact of my good credit)
or it would take months for me to get approved!
so, i took a few months out of my time to study about Credit cards
and how the credit card companies work,
and i have distributed my own website.
I now know the secrets of how these companies work
and i have come up with a way for you to get Approved Fast and Easy!
It takes minutes to sign up for a credit card,
and Approval is faster than you will think!
I am currently working with credit card companies
to understand even more and developing my website
so you can view it a lot easier than other credit card websites.
you can even get approved even if you have bad credit!
Thank you for your time, and I hope
to see people partake in this for i believe
this will help you make your credit card problem a lot easier!
Best Regards, Essa Shomali, Chairman of Easy Approval Card Co.
Hi, my name is Essa Shomali,
I was once looking for credit cards all over the internet,
I had good credit and I wanted to get approved very fast,
but most of the websites i tried usually turned me down
(despite the fact of my good credit)
or it would take months for me to get approved!
so, i took a few months out of my time to study about Credit cards
and how the credit card companies work,
and i have distributed my own website.
I now know the secrets of how these companies work
and i have come up with a way for you to get Approved Fast and Easy!
It takes minutes to sign up for a credit card,
and Approval is faster than you will think!
I am currently working with credit card companies
to understand even more and developing my website
so you can view it a lot easier than other credit card websites.
you can even get approved even if you have bad credit!
Thank you for your time, and I hope
to see people partake in this for i believe
this will help you make your credit card problem a lot easier!
Best Regards, Essa Shomali, Chairman of Easy Approval Card Co.
วันพุธที่ 28 ตุลาคม พ.ศ. 2552
Credit Card Debt Relief - Finding Solutions to Free Yourself From Credit Card Liabilities
Credit Card Debt Relief - Finding Solutions to Free Yourself From Credit Card Liabilities
Accrued bills of a credit card can be blamed for the user's incapability to control his spending. Most card holders who are used to this kind of payment method don't think of their spending until they have reached the maximum limit. Using your card up to its limit may seem so very easy and convenient but paying for it would be another thing.
Before, all debts have to be paid under certain terms and conditions but due to the economic slump, there were significant changes involving paying debts. Financial institution like banks and lending companies are facing awful financial situation and have no other options but to negotiate with their clients with payment conditions.
Kind payment terms offered by banks to their clients are referred to as debt relief. Customers where actually reached by the financial institutions after the discussion and consultation between funding institutions and settlement specialists. Financial firms propose lower payments for the clients to pay since there is a need for immediate cash. Lending companies relies with cash so instead of asking for the whole amount to be paid in a long term basis, they have considered to offer clients to pay lower amount but to be paid sooner which is more likely.
A relief company is usually being hired by a client as a start in order to make the settlement process in order and make sure that efficient communication with the bank will be carried out. Every time discussions take place, have a record of the minutes of the dialogues.
Relief firm should be careful not to soften or get confused during the discussion because once the financial institution sees this; they might come up with an argument to charge the client higher. The main purpose of the discussions is to convince the bank to give the lowest possible rate. Relief or settlement firms guarantees positive results but it would be better to limit your expectations not to get very disappointed.
A credit card debt relief is a great option for the loaner to pay his debts without compromising his assets to pay the whole amount of the loan and put an end to his nightmare. Credit card holders should look into their spending so that they will not be facing financial troubles regarding their credit card debts in the future. Meanwhile, with the recession we are experiencing, being a debtor has an advantage with the situation.
Accrued bills of a credit card can be blamed for the user's incapability to control his spending. Most card holders who are used to this kind of payment method don't think of their spending until they have reached the maximum limit. Using your card up to its limit may seem so very easy and convenient but paying for it would be another thing.
Before, all debts have to be paid under certain terms and conditions but due to the economic slump, there were significant changes involving paying debts. Financial institution like banks and lending companies are facing awful financial situation and have no other options but to negotiate with their clients with payment conditions.
Kind payment terms offered by banks to their clients are referred to as debt relief. Customers where actually reached by the financial institutions after the discussion and consultation between funding institutions and settlement specialists. Financial firms propose lower payments for the clients to pay since there is a need for immediate cash. Lending companies relies with cash so instead of asking for the whole amount to be paid in a long term basis, they have considered to offer clients to pay lower amount but to be paid sooner which is more likely.
A relief company is usually being hired by a client as a start in order to make the settlement process in order and make sure that efficient communication with the bank will be carried out. Every time discussions take place, have a record of the minutes of the dialogues.
Relief firm should be careful not to soften or get confused during the discussion because once the financial institution sees this; they might come up with an argument to charge the client higher. The main purpose of the discussions is to convince the bank to give the lowest possible rate. Relief or settlement firms guarantees positive results but it would be better to limit your expectations not to get very disappointed.
A credit card debt relief is a great option for the loaner to pay his debts without compromising his assets to pay the whole amount of the loan and put an end to his nightmare. Credit card holders should look into their spending so that they will not be facing financial troubles regarding their credit card debts in the future. Meanwhile, with the recession we are experiencing, being a debtor has an advantage with the situation.
Credit Card Fraud Punishment Can Range From A Slap On The Wrist To Incarceration
Credit Card Fraud Punishment Can Range From A Slap On The Wrist To Incarceration
There are a number of factors that determine what a credit card fraud punishment is going to be. The state where the offense occurred, the person's previous history of credit card fraud, and the amount of money involved are all contributing factors. But what is credit card fraud? Let's take a look at a few examples
Basically, anytime a credit card is used by anyone other than an authorized user with out their knowledge and permission, its considered fraud. So someone using stolen credit card numbers, a kid using his parents card without permission, or using a stolen card are all examples of fraud.
The various states have different laws pertaining to credit card fraud, so depending on which state the crime was committed, there are different punishments. Not only that, but the punishment will depend on if the internet was used, or if the postal service was used.
If the person committing the crime has been involved and committed other crimes, they will most likely be dealt with more severely than someone who is committing their first offense. A first timer can expect to receive fines and community service, whereas the latter may expect jail or prison time.
The money involved may also have somewhat of an influence on the sentence received. A first timer that only makes one purchase with a stolen card or numbers will obviously not be dealt with as harshly as someone that steals or uses multiple cards and numbers to make a multitude of purchases.
Basically, the four types of punishment that can be expected in varying degrees from credit card fraud are as follows: monetary fees and fines, community service, probation, and incarceration.
It goes without saying that persons who commit these types of crimes are not likely to find sympathy among the victims, including card owners, merchants, and card companies. They would be the first to likely applaud any credit card fraud punishment such a perpetrator would receive.
There are a number of factors that determine what a credit card fraud punishment is going to be. The state where the offense occurred, the person's previous history of credit card fraud, and the amount of money involved are all contributing factors. But what is credit card fraud? Let's take a look at a few examples
Basically, anytime a credit card is used by anyone other than an authorized user with out their knowledge and permission, its considered fraud. So someone using stolen credit card numbers, a kid using his parents card without permission, or using a stolen card are all examples of fraud.
The various states have different laws pertaining to credit card fraud, so depending on which state the crime was committed, there are different punishments. Not only that, but the punishment will depend on if the internet was used, or if the postal service was used.
If the person committing the crime has been involved and committed other crimes, they will most likely be dealt with more severely than someone who is committing their first offense. A first timer can expect to receive fines and community service, whereas the latter may expect jail or prison time.
The money involved may also have somewhat of an influence on the sentence received. A first timer that only makes one purchase with a stolen card or numbers will obviously not be dealt with as harshly as someone that steals or uses multiple cards and numbers to make a multitude of purchases.
Basically, the four types of punishment that can be expected in varying degrees from credit card fraud are as follows: monetary fees and fines, community service, probation, and incarceration.
It goes without saying that persons who commit these types of crimes are not likely to find sympathy among the victims, including card owners, merchants, and card companies. They would be the first to likely applaud any credit card fraud punishment such a perpetrator would receive.
Financing With Business Credit Cards
Financing With Business Credit Cards
You've heard the saying, "You've got to spend money to make money!" This couldn't be more true, especially in business. If you want to grow your business, you're going to need a source of funds and access to cash flow - particularly when things are moving slowly. At one time, owners of businesses had to get business credit against the things that they owned personally and based on their personal credit score. This is a major liability because if your business doesn't make it, you could lose your personal assets, too! Thankfully, there are now ways to obtain business credit that is not just an extension of what you owe personally. If you set the business up as an official entity- separate from yourself, you can apply for various business funding, including loans or credit cards. When a business is just starting out, it hasn't had the opportunity to establish it's own credit rating yet and so lenders will have to use your personal credit report to determine the level of risk in lending to a business you own. What happens if your personal credit score is not-so-good? You can take some steps to increase your chances of getting a business credit card (or some other form of business funding) by doing the following: Take steps to increase your personal score. Before you go any further looking for business credit cards or other sources of funding, do you know what your score is? Is your credit score below 640? If it is, it is recommended that you attempt to increase the score first. Often, making all of your payments on time for 3 consecutive months will pull your score up 2 to 4 points. Check with a financial advisor for some ways of increasing your credit score as it will only serve to help you personally as well as in business. Create an LLC or Corporation. This type of business structure automatically means the business is separate, and not just an extension of you. If you are operating a business under your name, and have not filed any official paperwork with the government or with lawyers and accountants- your business finances are no different than your personal finances. Have a physical address. Believe it or not, using a PO Box can hinder your ability to get a business credit card or loan! If you operate out of your home, you might consider getting a business mailbox from Mailboxes Etc, or UPS, as both offer a physical mailing address rather than a PO Box. Having a business phone line also will increase the way the business is looked at by lenders, and ensures the business is reachable. If you are still unable to obtain business credit cards or financing on your first try, perhaps you know someone with a strong credit rating who would be willing to co-sign an application for you. You may not be able to have a business application for credit co-signed, but you can as an individual. Get a credit card in your name and then use it only for the business. Be sure to make the payments on time, and keep the balance manageable. Over time, you'll build up your personal credit score, which is seen as a boost for the business validity- and eventually you'll be able to obtain funding and credit cards under the business name. Getting business credit cards and financing is a necessity that all businesses will face from time to time. There is a need for cash flow in order to grow and increase the business. With some careful planning and preparation, most businesses will be approved for a business credit card even if the owner has personal credit that is slightly less-than-perfect.
You've heard the saying, "You've got to spend money to make money!" This couldn't be more true, especially in business. If you want to grow your business, you're going to need a source of funds and access to cash flow - particularly when things are moving slowly. At one time, owners of businesses had to get business credit against the things that they owned personally and based on their personal credit score. This is a major liability because if your business doesn't make it, you could lose your personal assets, too! Thankfully, there are now ways to obtain business credit that is not just an extension of what you owe personally. If you set the business up as an official entity- separate from yourself, you can apply for various business funding, including loans or credit cards. When a business is just starting out, it hasn't had the opportunity to establish it's own credit rating yet and so lenders will have to use your personal credit report to determine the level of risk in lending to a business you own. What happens if your personal credit score is not-so-good? You can take some steps to increase your chances of getting a business credit card (or some other form of business funding) by doing the following: Take steps to increase your personal score. Before you go any further looking for business credit cards or other sources of funding, do you know what your score is? Is your credit score below 640? If it is, it is recommended that you attempt to increase the score first. Often, making all of your payments on time for 3 consecutive months will pull your score up 2 to 4 points. Check with a financial advisor for some ways of increasing your credit score as it will only serve to help you personally as well as in business. Create an LLC or Corporation. This type of business structure automatically means the business is separate, and not just an extension of you. If you are operating a business under your name, and have not filed any official paperwork with the government or with lawyers and accountants- your business finances are no different than your personal finances. Have a physical address. Believe it or not, using a PO Box can hinder your ability to get a business credit card or loan! If you operate out of your home, you might consider getting a business mailbox from Mailboxes Etc, or UPS, as both offer a physical mailing address rather than a PO Box. Having a business phone line also will increase the way the business is looked at by lenders, and ensures the business is reachable. If you are still unable to obtain business credit cards or financing on your first try, perhaps you know someone with a strong credit rating who would be willing to co-sign an application for you. You may not be able to have a business application for credit co-signed, but you can as an individual. Get a credit card in your name and then use it only for the business. Be sure to make the payments on time, and keep the balance manageable. Over time, you'll build up your personal credit score, which is seen as a boost for the business validity- and eventually you'll be able to obtain funding and credit cards under the business name. Getting business credit cards and financing is a necessity that all businesses will face from time to time. There is a need for cash flow in order to grow and increase the business. With some careful planning and preparation, most businesses will be approved for a business credit card even if the owner has personal credit that is slightly less-than-perfect.
วันจันทร์ที่ 26 ตุลาคม พ.ศ. 2552
Merchant Services Credit Card Processing
Merchant Services Credit Card Processing
Insofar as choosing a good merchant processor, all are not created equal. Having been around the block several times on this issue, and doing business with a host of different types of merchant processing companies,. I have come to the conclusion that most are dishonest if not outright liars. Many times this is the case simply because many of these larger companies are based on an antiquated and outmoded business model.
This outmoded model not only puts the customer in a precarious position, but also tends to alienate, dissociate, and generally make unhappy customers.
I had almost had enough of merchant processing companies, and was ready to throw in the towel. I was tired of being promised free terminals, and other assorted fake bait to get me to go with their company.
I noticed that none of these companies had ever provided me with any type of tangible incentive to go with them either. Being quite an un-trusting consumer myself, I decided to deeply investigate the different rates and offers, all the different major player companies, and do some heavy and sustained research on what companies were offering and which plans did what and so on.
The company that came out on top is called First Data Independent Services or FDIS. If you are looking for a fast and easy merchant account or credit card processing terminal they are clearly the people to call. With an unbeatable affiliate program, you can offset your costs even to the point of negating your own merchant bill altogether!
"Every month I get a check from first data that helps me dramatically offset my own costs. I don't know of any other business in the merchant processing arena that offers this type of service."
Insofar as choosing a good merchant processor, all are not created equal. Having been around the block several times on this issue, and doing business with a host of different types of merchant processing companies,. I have come to the conclusion that most are dishonest if not outright liars. Many times this is the case simply because many of these larger companies are based on an antiquated and outmoded business model.
This outmoded model not only puts the customer in a precarious position, but also tends to alienate, dissociate, and generally make unhappy customers.
I had almost had enough of merchant processing companies, and was ready to throw in the towel. I was tired of being promised free terminals, and other assorted fake bait to get me to go with their company.
I noticed that none of these companies had ever provided me with any type of tangible incentive to go with them either. Being quite an un-trusting consumer myself, I decided to deeply investigate the different rates and offers, all the different major player companies, and do some heavy and sustained research on what companies were offering and which plans did what and so on.
The company that came out on top is called First Data Independent Services or FDIS. If you are looking for a fast and easy merchant account or credit card processing terminal they are clearly the people to call. With an unbeatable affiliate program, you can offset your costs even to the point of negating your own merchant bill altogether!
"Every month I get a check from first data that helps me dramatically offset my own costs. I don't know of any other business in the merchant processing arena that offers this type of service."
วันศุกร์ที่ 23 ตุลาคม พ.ศ. 2552
Best Credit Card For You - Choosing the Best Offer
Best Credit Card For You - Choosing the Best Offer
Are you trying to decide how to choose the best credit card for you personally? Most people make the decision to own and use a credit card because having credit in this day and age is important if you hope to take out a loan on a large purchase or a mortgage on a home.
There are many draws to different brands of credit cards, from low APR and fraud liability to cash back rewards and air miles. There are many offers and benefits of using different cards, and companies know this and use it to draw customers. Everyone spends in different ways, and it is important to find the right card to serve your needs the best.
The types of offers you may be qualified for is often determined by your current credit. People with good credit will find they receive a lot of mail offering them this deal or that with a new credit card. Know your credit score to see what deals you are qualified for. Unfortunately, those with poor or no credit may not qualify for deals with beneficial perks. You can always improve your credit by making payments on time and not letting debt creep up on you. If your credit is very low to the point where you cannot fix it yourself, a credit repair company can help you get back on your financial feet. While your credit is being repaired, use other means to make purchases and once the process is complete, you will have your pick of some of the best deals available today so you can find the best credit card for you.
Pay attention to the way you shop. If you tend to get a lot of shopping done in one particular store, look for an offer that sends you gift certificates to the stores you frequent the most. This will help you greatly in finding the best credit card for you. Next, be aware of the overall lifestyle you live. If you enjoy traveling or you go away on business trips regularly, keep your eye open for cards that offer frequent flyer miles.
Are you trying to decide how to choose the best credit card for you personally? Most people make the decision to own and use a credit card because having credit in this day and age is important if you hope to take out a loan on a large purchase or a mortgage on a home.
There are many draws to different brands of credit cards, from low APR and fraud liability to cash back rewards and air miles. There are many offers and benefits of using different cards, and companies know this and use it to draw customers. Everyone spends in different ways, and it is important to find the right card to serve your needs the best.
The types of offers you may be qualified for is often determined by your current credit. People with good credit will find they receive a lot of mail offering them this deal or that with a new credit card. Know your credit score to see what deals you are qualified for. Unfortunately, those with poor or no credit may not qualify for deals with beneficial perks. You can always improve your credit by making payments on time and not letting debt creep up on you. If your credit is very low to the point where you cannot fix it yourself, a credit repair company can help you get back on your financial feet. While your credit is being repaired, use other means to make purchases and once the process is complete, you will have your pick of some of the best deals available today so you can find the best credit card for you.
Pay attention to the way you shop. If you tend to get a lot of shopping done in one particular store, look for an offer that sends you gift certificates to the stores you frequent the most. This will help you greatly in finding the best credit card for you. Next, be aware of the overall lifestyle you live. If you enjoy traveling or you go away on business trips regularly, keep your eye open for cards that offer frequent flyer miles.
Credit Card Debt Consolidation - Is It Truly Effective?
Credit Card Debt Consolidation - Is It Truly Effective?
Credit cards have replaced dogs as a person's best friend. They are easy to get, reliable, flexible, easy to carry... what else can I say in their favour? One of the best financial inventions of all times, and certainly the most popular by far. But you know what they say, easy come, easy go. It is a piece of cake to get caught up in the excitement of a shopping spree and overspend. What is uglier than credit card overspending? You got it, credit card debt.
So you are up to your neck deep in debt and you are dying for a way out of it. Two little words took shape in your mind... debt consolidation. You conduct a research and it certainly looks promising, this begins to seem like your only choice. But before you take a decision, why not take a look at this article? Here we will discuss whether credit card debt consolidation truly is the answer to your problems. So... is it effective? Read on to find out.
The Good
Consolidating your credit card debt can be a wise move if done properly. You will be able to get rid of the high interest rate and replace it with a much better deal. But it has to be performed carefully and only if the final outcome will be beneficial for you, because otherwise you could end up in a worse situation than the one you were originally in. Another good idea is to apply for a consolidation loan. Usually, using the equity on your home to pay off your debt is a the best way to go. Equity loans usually carry very low interest rates and the interest you do pay happens to be deductible. If you have many different Credit cards, you will no longer be paying each of their interest rates, but only one, and a lower one at that.
The Bad And The Ugly
Debt consolidation on credit cards is a true help for most. But as with most things, it does have a downside.
Getting a 0% card will obviously be your first choice, but if you have bad credit (I presume that if you are deep in debt, this must be your case), it might be difficult to get approved for one. Be careful when choosing this card, because the promotional rates are just that, promotional, they only last a few months and then shoot up. You would not want to end up with a higher interest rate than the one you previously had, now would you? These things should be carefully taken into consideration. Being a responsible payer is very important when it comes to credit card debt consolidation and the new chosen lower rates, as payments needs to be carried out timely each month, otherwise penalty fees will apply, and they tend to be very pricy.
If you decide that consolidating your credit card debt is the right way to go, always choose a reputable agency. It is a good idea to explore the online world as you will be able to perform comparisons easily. Take your time to research each of agency carefully. Never let cheap advertisement temp you as what seems too good to be true usually is.
Credit cards have replaced dogs as a person's best friend. They are easy to get, reliable, flexible, easy to carry... what else can I say in their favour? One of the best financial inventions of all times, and certainly the most popular by far. But you know what they say, easy come, easy go. It is a piece of cake to get caught up in the excitement of a shopping spree and overspend. What is uglier than credit card overspending? You got it, credit card debt.
So you are up to your neck deep in debt and you are dying for a way out of it. Two little words took shape in your mind... debt consolidation. You conduct a research and it certainly looks promising, this begins to seem like your only choice. But before you take a decision, why not take a look at this article? Here we will discuss whether credit card debt consolidation truly is the answer to your problems. So... is it effective? Read on to find out.
The Good
Consolidating your credit card debt can be a wise move if done properly. You will be able to get rid of the high interest rate and replace it with a much better deal. But it has to be performed carefully and only if the final outcome will be beneficial for you, because otherwise you could end up in a worse situation than the one you were originally in. Another good idea is to apply for a consolidation loan. Usually, using the equity on your home to pay off your debt is a the best way to go. Equity loans usually carry very low interest rates and the interest you do pay happens to be deductible. If you have many different Credit cards, you will no longer be paying each of their interest rates, but only one, and a lower one at that.
The Bad And The Ugly
Debt consolidation on credit cards is a true help for most. But as with most things, it does have a downside.
Getting a 0% card will obviously be your first choice, but if you have bad credit (I presume that if you are deep in debt, this must be your case), it might be difficult to get approved for one. Be careful when choosing this card, because the promotional rates are just that, promotional, they only last a few months and then shoot up. You would not want to end up with a higher interest rate than the one you previously had, now would you? These things should be carefully taken into consideration. Being a responsible payer is very important when it comes to credit card debt consolidation and the new chosen lower rates, as payments needs to be carried out timely each month, otherwise penalty fees will apply, and they tend to be very pricy.
If you decide that consolidating your credit card debt is the right way to go, always choose a reputable agency. It is a good idea to explore the online world as you will be able to perform comparisons easily. Take your time to research each of agency carefully. Never let cheap advertisement temp you as what seems too good to be true usually is.
Credit Card Debt Consolidation Explained
Credit Card Debt Consolidation Explained
Credit cards are immensely popular all around the world. There is not a single person who has not heard of them or owns at least one. The reason for this increasing fame is their versatility. They make our lives easier in many ways. But as wonderful as they might be, they also have their drawbacks. Many carry high interest rates, pricy penalty fees, among other things. All that glitters is not gold.
If you have been a credit card fan for some time now, and you have fallen deep in debt due to spending without measure, then you are in trouble. Chances are you have many different credit cards, each of them probably charges you exorbitant interest rates. If that is your case, then this is the article for you. Here we will explain the basics of credit card debt consolidation, read on and find out how it goes!
So What IS Debt Consolidation?
When you take out a loan to pay off many other loans, or any form of debt, you are consolidating. This practice has the purpose of securing lower interest rates, fixed interest rates, or to conveniently transform a number of monthly payments into only one. If we are talking about consolidating credit card debt, the you would use the loan money to pay off the remaining debt (which can belong to one credit card or more) and begin repaying the loan in return.
Benefits And Advantages
Credit card interest rates con go up to 25% at times, which is awfully high. It is incredibly frustrating to see your debt increasing mainly due to interests. Consolidation has brought relief to many people. As the debt related to your credit cards is often an unsecured debt, what you can do is take a secured loan pledging your house as a collateral. A home equity loan, for example. These types of loan carry low interest rates, which translates into huge savings for you and your family. Along with peace of mind. What is more, this interest can be deducted!
Another great feature of debt consolidation which is not really taken into account is that it helps you to organize your finances. If you had 5 different payments because of your 5 credit cards, all with a different interest rate associated, and you consolidate into one payment, chances are you will find it a lot easier to put your finances in order. Saving opportunities will be easily spotted and a budget will be effortlessly planned out.
Worries And Concerns
You should only consolidate your debt if it presents future benefits to your financial situation. If it will not bring about savings or economical relief, it will not be worth the trouble. Also, if you decide to replace your unsecured debt with a secured one, bear in mind that if you fail to repay it, you will be risking the safety of your asset, facing foreclosure or repossession.
Other Options
If you are still not sure whether consolidating is the answer to your problems, let me tell you that there are other options out there. Debt negotiation or settlement is a possibility. Discussing a payment plan is another solution. Otherwise, you can try out transferring your credit card balances into other credit cards with different terms. You name it.
Credit cards are immensely popular all around the world. There is not a single person who has not heard of them or owns at least one. The reason for this increasing fame is their versatility. They make our lives easier in many ways. But as wonderful as they might be, they also have their drawbacks. Many carry high interest rates, pricy penalty fees, among other things. All that glitters is not gold.
If you have been a credit card fan for some time now, and you have fallen deep in debt due to spending without measure, then you are in trouble. Chances are you have many different credit cards, each of them probably charges you exorbitant interest rates. If that is your case, then this is the article for you. Here we will explain the basics of credit card debt consolidation, read on and find out how it goes!
So What IS Debt Consolidation?
When you take out a loan to pay off many other loans, or any form of debt, you are consolidating. This practice has the purpose of securing lower interest rates, fixed interest rates, or to conveniently transform a number of monthly payments into only one. If we are talking about consolidating credit card debt, the you would use the loan money to pay off the remaining debt (which can belong to one credit card or more) and begin repaying the loan in return.
Benefits And Advantages
Credit card interest rates con go up to 25% at times, which is awfully high. It is incredibly frustrating to see your debt increasing mainly due to interests. Consolidation has brought relief to many people. As the debt related to your credit cards is often an unsecured debt, what you can do is take a secured loan pledging your house as a collateral. A home equity loan, for example. These types of loan carry low interest rates, which translates into huge savings for you and your family. Along with peace of mind. What is more, this interest can be deducted!
Another great feature of debt consolidation which is not really taken into account is that it helps you to organize your finances. If you had 5 different payments because of your 5 credit cards, all with a different interest rate associated, and you consolidate into one payment, chances are you will find it a lot easier to put your finances in order. Saving opportunities will be easily spotted and a budget will be effortlessly planned out.
Worries And Concerns
You should only consolidate your debt if it presents future benefits to your financial situation. If it will not bring about savings or economical relief, it will not be worth the trouble. Also, if you decide to replace your unsecured debt with a secured one, bear in mind that if you fail to repay it, you will be risking the safety of your asset, facing foreclosure or repossession.
Other Options
If you are still not sure whether consolidating is the answer to your problems, let me tell you that there are other options out there. Debt negotiation or settlement is a possibility. Discussing a payment plan is another solution. Otherwise, you can try out transferring your credit card balances into other credit cards with different terms. You name it.
Prepaid Secured Credit Card - Teen Spending Solutions
Prepaid Secured Credit Card - Teen Spending Solutions
Every kid loves to have an allowance to spend. Sometimes, it might seem like a good idea to give a teen a credit card when they have bigger needs than their allowance can buy. However, trusting a teenager with your personal credit is not always a safe bet. If you want to give teens a chance to feel responsible and still be protected, consider using a prepaid secured credit card that allows them to only spend what you put on the card. This way, you can monitor their spending and make sure that they're developing good financial responsibility without hindering them or risking your own personal credit cards in the event of a slip up.
Parents shouldn't just assume that kids will be fine with cash and leave it at that. While this is effective enough, giving them the ability to use credit will help to teach them how to manage money and spend responsibly while also giving them a better sense that they are trusted because you are giving them a credit card. Since the prepaid secured credit card will run out of money if you don't put any on there, there is essentially no risk involved in this process. Many parents have chosen this option for their own teens for these reasons.
There are some cards out there that are specifically designed for the use of teen spending, and they come in all sizes and styles. You can find basic cards with credit limits of up to $500 as long as you put the money on the card, and then you can even find prepaid secured credit card choices that will let you put limitless amounts of money on the card so that you can choose exactly how much your teen needs at any given time. Being able to give teens more responsibility and teach them a little financial management in the process is all well worth the investment into a prepaid credit card.
A prepaid secured credit card might not be the right solution for your teen. However, for many parents, it's a relief to be able to give their teens more responsibility and not have to worry about giving them cash. Using prepaid cards can serve many different purposes, but one of the best ways to utilize them is for doling out allowances to your children. There is no limit to what you can find as long as you look, so check out prepaid cards for teens today.
Every kid loves to have an allowance to spend. Sometimes, it might seem like a good idea to give a teen a credit card when they have bigger needs than their allowance can buy. However, trusting a teenager with your personal credit is not always a safe bet. If you want to give teens a chance to feel responsible and still be protected, consider using a prepaid secured credit card that allows them to only spend what you put on the card. This way, you can monitor their spending and make sure that they're developing good financial responsibility without hindering them or risking your own personal credit cards in the event of a slip up.
Parents shouldn't just assume that kids will be fine with cash and leave it at that. While this is effective enough, giving them the ability to use credit will help to teach them how to manage money and spend responsibly while also giving them a better sense that they are trusted because you are giving them a credit card. Since the prepaid secured credit card will run out of money if you don't put any on there, there is essentially no risk involved in this process. Many parents have chosen this option for their own teens for these reasons.
There are some cards out there that are specifically designed for the use of teen spending, and they come in all sizes and styles. You can find basic cards with credit limits of up to $500 as long as you put the money on the card, and then you can even find prepaid secured credit card choices that will let you put limitless amounts of money on the card so that you can choose exactly how much your teen needs at any given time. Being able to give teens more responsibility and teach them a little financial management in the process is all well worth the investment into a prepaid credit card.
A prepaid secured credit card might not be the right solution for your teen. However, for many parents, it's a relief to be able to give their teens more responsibility and not have to worry about giving them cash. Using prepaid cards can serve many different purposes, but one of the best ways to utilize them is for doling out allowances to your children. There is no limit to what you can find as long as you look, so check out prepaid cards for teens today.
Is Credit Card Debt Negotiation for You?
Is Credit Card Debt Negotiation for You?
You may have heard or seen ads for credit card debt negotiation services offering to help people who are unable to pay their bills. In some circumstances, this is a viable option for consumers who want to get their finances back on track. Before you make a decision to look at a debt negotiation to deal with your situation, you will want to educate yourself about the process.
Credit card debt negotiation is not the same thing as getting a debt consolidation loan. When you take out a loan to pay off your debts, you fill out an application at a bank or another lender. You will need to put up collateral, such as the equity in your home, as security for the loan.
Credit card negotiation is a different process. In this situation, you, or a company working on your behalf, works with the credit card company to work out an amount the creditor will agree to take. The creditor agrees to take less than the original amount owed to settle the debt. In some situations, this amount is 50 percent of the debt. The advantage to the creditor is that they end up receiving more than they would get if the consumer went into bankruptcy.
The consumer who successfully negotiates a credit card settlement can avoid bankruptcy. There will be consequences for the person who chooses this method of dealing with their debt, though. The fact you negotiated a settlement instead of making your regular payments will appear on your credit report. It may lower your credit score, but the impact will be lower than if you declared bankruptcy.
Negotiating your own credit card debt settlement may be too overwhelming for many people. Being able to work out a settlement arrangement when you are financially (and emotionally) involved puts extra pressure on you at a time when you are already feeling stressed. A better approach is to consult with a representative from a professional credit card settlement company to approach your creditors on your behalf. That way, you keep yourself at arms' length away from the negotiations.
When you are considering which credit card debt negotiation company you would like to work with, take the time to learn something about the ones you are considering. You will want to find an organization that is a member of the United States Organization for Bankruptcy Alternatives, since membership indicates that the company is bound to abide by certain ethical standards in its dealings with clients.
If the debt negotiation company has a web site, spend some time going through the information posted there in detail. Pay attention to the company's "About Us" page to find out how long it has been in business. You will also want to be on the lookout for information about the kind of training that the client's representatives receive before they start working on files.
Once you have found a company that has been in business for a number of years that you are interested in working with, the next step is to schedule an appointment for a consultation. Before you arrive, make a list of questions that you have about how the process works and what your responsibilities are in this situation. You should also be prepared to provide detailed information about the amount you owe and to which creditors.
Each situation is different, and a credit card debt negotiation firm shouldn't promise you that they will be able to work out a settlement for you. They should be clear about the fact that they can approach the company to start a discussion but that there are no guarantees. However, these companies can offer a possible solution to people affected by the economic downturn so they can get back on their feet again in the easiest possible way.
You may have heard or seen ads for credit card debt negotiation services offering to help people who are unable to pay their bills. In some circumstances, this is a viable option for consumers who want to get their finances back on track. Before you make a decision to look at a debt negotiation to deal with your situation, you will want to educate yourself about the process.
Credit card debt negotiation is not the same thing as getting a debt consolidation loan. When you take out a loan to pay off your debts, you fill out an application at a bank or another lender. You will need to put up collateral, such as the equity in your home, as security for the loan.
Credit card negotiation is a different process. In this situation, you, or a company working on your behalf, works with the credit card company to work out an amount the creditor will agree to take. The creditor agrees to take less than the original amount owed to settle the debt. In some situations, this amount is 50 percent of the debt. The advantage to the creditor is that they end up receiving more than they would get if the consumer went into bankruptcy.
The consumer who successfully negotiates a credit card settlement can avoid bankruptcy. There will be consequences for the person who chooses this method of dealing with their debt, though. The fact you negotiated a settlement instead of making your regular payments will appear on your credit report. It may lower your credit score, but the impact will be lower than if you declared bankruptcy.
Negotiating your own credit card debt settlement may be too overwhelming for many people. Being able to work out a settlement arrangement when you are financially (and emotionally) involved puts extra pressure on you at a time when you are already feeling stressed. A better approach is to consult with a representative from a professional credit card settlement company to approach your creditors on your behalf. That way, you keep yourself at arms' length away from the negotiations.
When you are considering which credit card debt negotiation company you would like to work with, take the time to learn something about the ones you are considering. You will want to find an organization that is a member of the United States Organization for Bankruptcy Alternatives, since membership indicates that the company is bound to abide by certain ethical standards in its dealings with clients.
If the debt negotiation company has a web site, spend some time going through the information posted there in detail. Pay attention to the company's "About Us" page to find out how long it has been in business. You will also want to be on the lookout for information about the kind of training that the client's representatives receive before they start working on files.
Once you have found a company that has been in business for a number of years that you are interested in working with, the next step is to schedule an appointment for a consultation. Before you arrive, make a list of questions that you have about how the process works and what your responsibilities are in this situation. You should also be prepared to provide detailed information about the amount you owe and to which creditors.
Each situation is different, and a credit card debt negotiation firm shouldn't promise you that they will be able to work out a settlement for you. They should be clear about the fact that they can approach the company to start a discussion but that there are no guarantees. However, these companies can offer a possible solution to people affected by the economic downturn so they can get back on their feet again in the easiest possible way.
วันพฤหัสบดีที่ 22 ตุลาคม พ.ศ. 2552
Applying For A Credit Card Online
Applying For A Credit Card Online
The easiest way to apply for a credit card is online. In the past applications for cards were a lengthy process, filling in forms with many pages. On the Internet however this process has been made much easier.
You will be required to supply a certain amount of information when you apply for a credit card. It is best to have the following items to hand ready for your application:
Personal details - name, address (including post code), contact telephone number
Date of birth, marital status, accommodation status
Financial information - employment status, current salary, job title
Proof of identity (sometimes required, e.g. passport, bank statement, utility bill)
As a part of the application form you will also be expected to agree to the issuer's terms and conditions. This includes allowing them to receive information from third parties about your credit history, as well as passing that information on to other organisations in the future.
Make sure your browser is in a secure connection before submitting an application form. This is illustrated by a small yellow padlock at the bottom of your web browser.
Often card issuers will be able to give you an instant decision online. It will tell you if you have been successful with the application and the initial credit limit to be placed on your new card.
If your application has been declined, or requires further information before it can be assessed, you may be asked to call the card issuer to discuss alternatives.
The easiest way to apply for a credit card is online. In the past applications for cards were a lengthy process, filling in forms with many pages. On the Internet however this process has been made much easier.
You will be required to supply a certain amount of information when you apply for a credit card. It is best to have the following items to hand ready for your application:
Personal details - name, address (including post code), contact telephone number
Date of birth, marital status, accommodation status
Financial information - employment status, current salary, job title
Proof of identity (sometimes required, e.g. passport, bank statement, utility bill)
As a part of the application form you will also be expected to agree to the issuer's terms and conditions. This includes allowing them to receive information from third parties about your credit history, as well as passing that information on to other organisations in the future.
Make sure your browser is in a secure connection before submitting an application form. This is illustrated by a small yellow padlock at the bottom of your web browser.
Often card issuers will be able to give you an instant decision online. It will tell you if you have been successful with the application and the initial credit limit to be placed on your new card.
If your application has been declined, or requires further information before it can be assessed, you may be asked to call the card issuer to discuss alternatives.
Do You Know Why Credit Card Debt Accumulates So Fast?
Do You Know Why Credit Card Debt Accumulates So Fast?
Credit card debt is the total unpaid balance on the credit line. There are several factors that contribute to accelerating credit card debt.
Penalties and interest - one major reason that debt accumulates is due to penalties and interest when the consumer fails to make payments on time. Penalties are charged when the bill is not paid by the due date. Hence it is advisable for the consumer to repay the credited amount immediately. These days, most credit card companies allow you to make several monthly payments online. Doing this will help save interest and pay down the debt faster. "Over- the - limit" fees are another reason debt accumulates. This excessive amount is charged to the account when the consumer exceeds their credit limit. "Over- the - limit" fees continue to accumulate until the balance is paid below the credit limit. Know thy credit limit!
"Universal Default" - When one of the consumers fails to repay the credited amount or late payment occurs, the credit card company increases the interest rates. These increased interest rates are applied to the consumer with a late payment as well as consumers that pay regularly and on time. This methodology is known as Universal Default. Thus late or non- payment of one particular consumer can hamper the debt amount of other consumers as well. Don't be a bad apple and cause others to pay for your mistakes.
APR, or annual percentage rate also contributes to the amount of credit card debt. APR is the effective interest rate charged by the credit card company, and paid by the consumer. Annual percentage rates may be increased by the credit card companies. This increase interest can contribute to credit card debt.
New rules take effect in February 2010. If credit card companies have raised your rate or converted your rate to a variable rate because of the new rules you should contact them. Tell them to make the rated fixed (and ask for a lower rate). If they won't oblige, then take your business elsewhere.
There are ways you can stop the debt from accumulating so fast. Pay your bills on time and know the due date. Don't charge more than your credit limit, your monthly statement shows your current balance, rate and limit.
Ask the credit card company if they have a hardship program to put you on, or as was stated earlier renegotiate with your creditors. If you are really in over your head with no money, can't make the monthly payments, no 401k, no savings, then let them know if something isn't done you'll have to file for bankruptcy. Ask for a new and lower payment schedule, and lower interest rates. With the threat of bankruptcy looming, they will usually do what they can to avoid a total loss.
To summarize, credit card debt is inclusive of late payment charges, over- the - limit charges, universal default and higher annual percentage rates.
Establish a budget, curtail unnecessary spending and make a plan to pay off the credit card debt systematically.
Credit card debt is the total unpaid balance on the credit line. There are several factors that contribute to accelerating credit card debt.
Penalties and interest - one major reason that debt accumulates is due to penalties and interest when the consumer fails to make payments on time. Penalties are charged when the bill is not paid by the due date. Hence it is advisable for the consumer to repay the credited amount immediately. These days, most credit card companies allow you to make several monthly payments online. Doing this will help save interest and pay down the debt faster. "Over- the - limit" fees are another reason debt accumulates. This excessive amount is charged to the account when the consumer exceeds their credit limit. "Over- the - limit" fees continue to accumulate until the balance is paid below the credit limit. Know thy credit limit!
"Universal Default" - When one of the consumers fails to repay the credited amount or late payment occurs, the credit card company increases the interest rates. These increased interest rates are applied to the consumer with a late payment as well as consumers that pay regularly and on time. This methodology is known as Universal Default. Thus late or non- payment of one particular consumer can hamper the debt amount of other consumers as well. Don't be a bad apple and cause others to pay for your mistakes.
APR, or annual percentage rate also contributes to the amount of credit card debt. APR is the effective interest rate charged by the credit card company, and paid by the consumer. Annual percentage rates may be increased by the credit card companies. This increase interest can contribute to credit card debt.
New rules take effect in February 2010. If credit card companies have raised your rate or converted your rate to a variable rate because of the new rules you should contact them. Tell them to make the rated fixed (and ask for a lower rate). If they won't oblige, then take your business elsewhere.
There are ways you can stop the debt from accumulating so fast. Pay your bills on time and know the due date. Don't charge more than your credit limit, your monthly statement shows your current balance, rate and limit.
Ask the credit card company if they have a hardship program to put you on, or as was stated earlier renegotiate with your creditors. If you are really in over your head with no money, can't make the monthly payments, no 401k, no savings, then let them know if something isn't done you'll have to file for bankruptcy. Ask for a new and lower payment schedule, and lower interest rates. With the threat of bankruptcy looming, they will usually do what they can to avoid a total loss.
To summarize, credit card debt is inclusive of late payment charges, over- the - limit charges, universal default and higher annual percentage rates.
Establish a budget, curtail unnecessary spending and make a plan to pay off the credit card debt systematically.
วันพุธที่ 21 ตุลาคม พ.ศ. 2552
Accept Credit Cards with Laptop Processing
Accept Credit Cards with Laptop Processing
If you've been looking to accept credit cards away from the office but have concerns about the costs involved with conventional wireless equipment, then consider using your laptop computer.
All you need is a laptop, Internet access and a USB card reader to create an inexpensive wireless processing solution. It's best to have a wireless access card from a carrier such at AT&T, Sprint or Verizon as you'll always know you have internet access but with so wireless hotspots available these days, there's a good chance you can get by without one.
Most merchant service providers sell debit and credit card desktop software applications that will allow you to process Visa, MasterCard, Discover, American Express, JCB and Diners Club cards for merchants located in the U.S. In addition to replacing all of the functionality of traditional credit card terminal, this software can store credit card information for later processing. That's especially helpful when you deliver goods and services, either on a one-time basis or multiple times. It's also great for generating recurring credit card payments in either fixed or variable amounts.
Here's how it works
Just add a USB card reader to your laptop, open the credit card terminal software, swipe the card and type the amount you wish to charge along with the 3 digit CVV security number found on the back of the card holders card complete the required fields and press the send button.
The information is encrypted using 128-bit SSL (Secure Socket Layer) technology. It's first sent to a transaction server and then on to the card issuer's bank. The card issuer's bank verifies the cardholder's identity and verifies if sufficient funds are available to cover the sale. The information is then sent back to you and an authorization number is issued. When using a virtual terminal, the transactions are automatically settled each day. In addition, you can also check the status of transactions, automatically bill customers for recurring charges, and run a variety of useful management reports.
Most software & USB card reader solutions will cost around $150 to $250 which is a bargain as most traditional wireless terminals cost $450 to $650. Not to mention, the additional monthly wireless connectivity fees needed to send the card data from a wireless terminal.
If you're not comfortable purchasing software and installing it on your computer don't worry...
You can even use an internet based virtual terminal system. You'll still use the usb card reader to swipe the card but rather than open software on your computer, instead, you'd log in through a web browser to access the interface where you'll enter and submit the card data.
So the next time you bring your laptop on the road with you to make your sales presentation why not just add a USB card reader and run the customers card on your portable credit card processing system the next time you close the sale?
If you've been looking to accept credit cards away from the office but have concerns about the costs involved with conventional wireless equipment, then consider using your laptop computer.
All you need is a laptop, Internet access and a USB card reader to create an inexpensive wireless processing solution. It's best to have a wireless access card from a carrier such at AT&T, Sprint or Verizon as you'll always know you have internet access but with so wireless hotspots available these days, there's a good chance you can get by without one.
Most merchant service providers sell debit and credit card desktop software applications that will allow you to process Visa, MasterCard, Discover, American Express, JCB and Diners Club cards for merchants located in the U.S. In addition to replacing all of the functionality of traditional credit card terminal, this software can store credit card information for later processing. That's especially helpful when you deliver goods and services, either on a one-time basis or multiple times. It's also great for generating recurring credit card payments in either fixed or variable amounts.
Here's how it works
Just add a USB card reader to your laptop, open the credit card terminal software, swipe the card and type the amount you wish to charge along with the 3 digit CVV security number found on the back of the card holders card complete the required fields and press the send button.
The information is encrypted using 128-bit SSL (Secure Socket Layer) technology. It's first sent to a transaction server and then on to the card issuer's bank. The card issuer's bank verifies the cardholder's identity and verifies if sufficient funds are available to cover the sale. The information is then sent back to you and an authorization number is issued. When using a virtual terminal, the transactions are automatically settled each day. In addition, you can also check the status of transactions, automatically bill customers for recurring charges, and run a variety of useful management reports.
Most software & USB card reader solutions will cost around $150 to $250 which is a bargain as most traditional wireless terminals cost $450 to $650. Not to mention, the additional monthly wireless connectivity fees needed to send the card data from a wireless terminal.
If you're not comfortable purchasing software and installing it on your computer don't worry...
You can even use an internet based virtual terminal system. You'll still use the usb card reader to swipe the card but rather than open software on your computer, instead, you'd log in through a web browser to access the interface where you'll enter and submit the card data.
So the next time you bring your laptop on the road with you to make your sales presentation why not just add a USB card reader and run the customers card on your portable credit card processing system the next time you close the sale?
วันอังคารที่ 20 ตุลาคม พ.ศ. 2552
How To Use Credit Cards
How To Use Credit Cards
Credit Card abuse helped get our economy in the sad shape it's in and proper credit card use will help get us out. By using this three step approach you can easily manage your use of credit cards without overspending and improving your credit score at the same time.
Daily Credit Card - You should have one credit card for every day purchases like groceries, eating out, pharmacy, etc. Keep a close tab on your balance for you will pay this card off in full each month.
Gas Credit Card - You need one credit card for all your gas purchases for you and your entire family. Again this card will be paid off in full each month.
Emergency or Big Purchase Credit Cards - This credit card is for those unexpected purchases such as a new air conditioning, the refrigerator goes out, etc. This credit card should have the lowest interest rate of the three because you may not be able to pay it off in one month. However, plan to pay it off as quickly as possible.
That's it, plain and simple. You only need three credit cards which by following these simple steps you can manage very easily. In addition, if you keep control of this credit and any other debt you may have you will establish an excellent credit rating.
Credit Card abuse helped get our economy in the sad shape it's in and proper credit card use will help get us out. By using this three step approach you can easily manage your use of credit cards without overspending and improving your credit score at the same time.
Daily Credit Card - You should have one credit card for every day purchases like groceries, eating out, pharmacy, etc. Keep a close tab on your balance for you will pay this card off in full each month.
Gas Credit Card - You need one credit card for all your gas purchases for you and your entire family. Again this card will be paid off in full each month.
Emergency or Big Purchase Credit Cards - This credit card is for those unexpected purchases such as a new air conditioning, the refrigerator goes out, etc. This credit card should have the lowest interest rate of the three because you may not be able to pay it off in one month. However, plan to pay it off as quickly as possible.
That's it, plain and simple. You only need three credit cards which by following these simple steps you can manage very easily. In addition, if you keep control of this credit and any other debt you may have you will establish an excellent credit rating.
วันอาทิตย์ที่ 18 ตุลาคม พ.ศ. 2552
How to Find the Best Credit Card Debt Management
How to Find the Best Credit Card Debt Management
Credit cards are the modern replacement of the good old cash. That is something we all agree with. How many of us walk around with nothing in our wallets but our identification cards, the numerous credit cards we own, and little else ? Credit cards have even been given the nickname plastic cash , showing just how much a part of everyday life it has become. But this culture of credit cards has meant that we have been one of the causes for the world to come to where it is today one with economies tumbling and a global recession. Credit card debt has reached phenomenal highs, and credit card debt management is something many of us lack.
If the credit card debt management is what will take us out of this mess, how can we effectively use it for our own good?? For one, it is important to make sure we do not spend more than what we can afford. When it comes to personal finance, the previous statement is considered as the rule of thumb. Man is really good in reasoning. We always use the credit cards for buying things where we cannot actually afford with cash, thinking that we will have cash available when the credit card bill arrives. Once you make a couple of similar spending, you become not capable of settling the credit card bill in full once it arrives. At this point, credit card debt management should comes into play, in case if you have any hope of not getting in to bad finances..
Many people think that, one should start credit card debt management only when you go in to bad credit. This is one of the main misconceptions and the results will be damaging. Therefore, the credit card users should start credit card debt management as soon as they receive their first credit card. Imagine you forget to settle the credit card bill when it arrived. Then there will be a late fee charge and an additional interest on the amount you forgot to pay. If you keep forgetting to settle the credit card bills on time, then you will end up paying more and more..The credit card bills should be paid on time, so that you do not end up paying much more than you should be and that too for any adequate reason. All these tiny practices help you in credit card debt management.
In case the credit card bills has grown to a state where you cannot absolutely pay it back in the usual way, options such as consolidated loans will be a great option for looking at, as then you will have lower monthly payments and a longer repayment time period. Although in the long run this may cause you to pay back more as interest, it will allow you to re-think about your finances and time to come up with a good credit card debt management strategy for future use.
Credit cards are the modern replacement of the good old cash. That is something we all agree with. How many of us walk around with nothing in our wallets but our identification cards, the numerous credit cards we own, and little else ? Credit cards have even been given the nickname plastic cash , showing just how much a part of everyday life it has become. But this culture of credit cards has meant that we have been one of the causes for the world to come to where it is today one with economies tumbling and a global recession. Credit card debt has reached phenomenal highs, and credit card debt management is something many of us lack.
If the credit card debt management is what will take us out of this mess, how can we effectively use it for our own good?? For one, it is important to make sure we do not spend more than what we can afford. When it comes to personal finance, the previous statement is considered as the rule of thumb. Man is really good in reasoning. We always use the credit cards for buying things where we cannot actually afford with cash, thinking that we will have cash available when the credit card bill arrives. Once you make a couple of similar spending, you become not capable of settling the credit card bill in full once it arrives. At this point, credit card debt management should comes into play, in case if you have any hope of not getting in to bad finances..
Many people think that, one should start credit card debt management only when you go in to bad credit. This is one of the main misconceptions and the results will be damaging. Therefore, the credit card users should start credit card debt management as soon as they receive their first credit card. Imagine you forget to settle the credit card bill when it arrived. Then there will be a late fee charge and an additional interest on the amount you forgot to pay. If you keep forgetting to settle the credit card bills on time, then you will end up paying more and more..The credit card bills should be paid on time, so that you do not end up paying much more than you should be and that too for any adequate reason. All these tiny practices help you in credit card debt management.
In case the credit card bills has grown to a state where you cannot absolutely pay it back in the usual way, options such as consolidated loans will be a great option for looking at, as then you will have lower monthly payments and a longer repayment time period. Although in the long run this may cause you to pay back more as interest, it will allow you to re-think about your finances and time to come up with a good credit card debt management strategy for future use.
Beware Hidden Fees When You Consolidate Credit Card Debt
Beware Hidden Fees When You Consolidate Credit Card Debt
Watch those high interest rates they can be a massive drain on your finances. If you are stuck with loans or credit cards at high rates, it can seem as though practically every cent goes to pay the interest and that the principal balance never seems to shrink. That means you may think it might be a wise move to consolidate credit card debt and reduce your annual interest rates to a figure that is more manageable. It may seem prudent to transfer a credit card with a annual percentage rate of eighteen percent to another card carrying a lower rate, such as fifteen percent. Be sure you investigate the fine print of your contract with the lower-rate card, as you may find that there are "hidden" fees when you actually do consolidate credit card debt.
What should you look out for?
Credit card companies charge a "balance transfer fee" that you will have to pay when moving the balance from your higher-rate card to the new credit card. In many cases this fee is a flat rate, one time charge of $25 or $35. However, some consumers report that they've been shocked to learn that the balance transfer fee is actually a percentage of the amount transferred, some as high as four or five percent. And don't forget when you consolidate credit card debt, these balance transfer fees are added to the new outstanding balance on the lower-rate card. That means if you don't make a payment that covers the transfer fee immediately, you'll be paying interest on top of the fee itself.
Check other "hidden" fees when you consolidate credit card debt onto a lower-rate card. If you prefer to make your payments via telephone, some card companies charge a telephone payment fee. You may be shocked to find that your old card didn't require a phone payment fee, while your new card does require a fee, sometimes as high as $12.00 per transaction. That means you'll have to adjust your preferred payment method to avoid getting stung by such a charge. Your credit card company should inform you of any convenience or payment fees that will be required before you actually complete the payment. If they don't, then make sure you ask.
We often refer to these fees as hidden, that's only because these fees may not be top of mind for the consumer when making a decision to consolidate credit card debt. You should know that the credit card companies are required to disclose fees to you before you avail yourself of their offers, so consider the details and fine print before you act.
Watch those high interest rates they can be a massive drain on your finances. If you are stuck with loans or credit cards at high rates, it can seem as though practically every cent goes to pay the interest and that the principal balance never seems to shrink. That means you may think it might be a wise move to consolidate credit card debt and reduce your annual interest rates to a figure that is more manageable. It may seem prudent to transfer a credit card with a annual percentage rate of eighteen percent to another card carrying a lower rate, such as fifteen percent. Be sure you investigate the fine print of your contract with the lower-rate card, as you may find that there are "hidden" fees when you actually do consolidate credit card debt.
What should you look out for?
Credit card companies charge a "balance transfer fee" that you will have to pay when moving the balance from your higher-rate card to the new credit card. In many cases this fee is a flat rate, one time charge of $25 or $35. However, some consumers report that they've been shocked to learn that the balance transfer fee is actually a percentage of the amount transferred, some as high as four or five percent. And don't forget when you consolidate credit card debt, these balance transfer fees are added to the new outstanding balance on the lower-rate card. That means if you don't make a payment that covers the transfer fee immediately, you'll be paying interest on top of the fee itself.
Check other "hidden" fees when you consolidate credit card debt onto a lower-rate card. If you prefer to make your payments via telephone, some card companies charge a telephone payment fee. You may be shocked to find that your old card didn't require a phone payment fee, while your new card does require a fee, sometimes as high as $12.00 per transaction. That means you'll have to adjust your preferred payment method to avoid getting stung by such a charge. Your credit card company should inform you of any convenience or payment fees that will be required before you actually complete the payment. If they don't, then make sure you ask.
We often refer to these fees as hidden, that's only because these fees may not be top of mind for the consumer when making a decision to consolidate credit card debt. You should know that the credit card companies are required to disclose fees to you before you avail yourself of their offers, so consider the details and fine print before you act.
วันพุธที่ 14 ตุลาคม พ.ศ. 2552
About Credit Cards And Credit Reports
About Credit Cards And Credit Reports
Over the years, credit cards have become very popular. When they were first introduced, they were popular, although these days millions of people use them. There are many types of credit cards available, including those that help people who have bad credit. You should always keep in mind that even though credit cards are great to have, they will also have quite an impact on your credit report.
The credit report is extremely important, especially when it comes to credit cards. Banks and lenders use your credit report to determine if you meet their criteria for a credit card or a loan. Your credit report is the determining factor for your credit, which is why you should never let your credit cards do any type of damage to your report. To avoid this, simply pay your bill on time.
Most people will use their credit cards responsibly and won't damage their credit report. Doing this will show lenders that you are responsible, and that they can trust you with loans and credit - which in turn will raise your credit score. Keep in mind however; if you have a lot of open accounts, it may tell lenders that you have a lot open and that you won't be able to pay them back. Although this may count as good credit, lenders look at several open accounts as being potentially damaging to your credit report.
Although you may be tempted to have more than one credit card, it can actually be a downfall in the eyes of the lender. Most lenders will see this as you having a way to spend all of your limit, and will fear that you may do so. Even though you may not have this intention, credit card lenders will almost always fear the worst case scenario, and it eventually lead to you damaging your credit score - simply because a lender will turn you down for a future offer you apply for.
Something else you need to keep in mind is the fact that it can be really easy to miss a payment on your credit cards. Although this doesn't sound bad, it can have a very negative look on your credit report. If you start missing payments or paying them late, the lender will eventually enter it in your credit report. This can have a negative impact, lowering your beacon score and eventually bringing down your overall credit rating.
If you play it safe and only get one or two credit cards and keep a track of how you use them, you won't need to worry. Your credit report should always be a primary concern, and you should always do your best to ensure that it stays free of negative ratings. If you keep up things up to date - you'll enjoy the benefit of a positive credit report.
Over the years, credit cards have become very popular. When they were first introduced, they were popular, although these days millions of people use them. There are many types of credit cards available, including those that help people who have bad credit. You should always keep in mind that even though credit cards are great to have, they will also have quite an impact on your credit report.
The credit report is extremely important, especially when it comes to credit cards. Banks and lenders use your credit report to determine if you meet their criteria for a credit card or a loan. Your credit report is the determining factor for your credit, which is why you should never let your credit cards do any type of damage to your report. To avoid this, simply pay your bill on time.
Most people will use their credit cards responsibly and won't damage their credit report. Doing this will show lenders that you are responsible, and that they can trust you with loans and credit - which in turn will raise your credit score. Keep in mind however; if you have a lot of open accounts, it may tell lenders that you have a lot open and that you won't be able to pay them back. Although this may count as good credit, lenders look at several open accounts as being potentially damaging to your credit report.
Although you may be tempted to have more than one credit card, it can actually be a downfall in the eyes of the lender. Most lenders will see this as you having a way to spend all of your limit, and will fear that you may do so. Even though you may not have this intention, credit card lenders will almost always fear the worst case scenario, and it eventually lead to you damaging your credit score - simply because a lender will turn you down for a future offer you apply for.
Something else you need to keep in mind is the fact that it can be really easy to miss a payment on your credit cards. Although this doesn't sound bad, it can have a very negative look on your credit report. If you start missing payments or paying them late, the lender will eventually enter it in your credit report. This can have a negative impact, lowering your beacon score and eventually bringing down your overall credit rating.
If you play it safe and only get one or two credit cards and keep a track of how you use them, you won't need to worry. Your credit report should always be a primary concern, and you should always do your best to ensure that it stays free of negative ratings. If you keep up things up to date - you'll enjoy the benefit of a positive credit report.
Regarding Credit Cards Without A Bank Account
Regarding Credit Cards Without A Bank Account
Having a credit card is a great thing indeed, although most are hard to obtain for those who have a less than perfect credit history. The restrictions for getting most credit cards are so tough that those who have bad credit may find it nearly impossible to get a credit card, or they find themselves hit with extremely high APR rates, and find it hard to compete with the interest.
For those who have less than perfect credit or no bank account, there is hope. There are credit cards known as no bank account cards, that can help those with bad credit. These types of credit cards are quite easy to obtain, and they can actually help you to get your credit back and track and live the life you've always dreamed of.
Credit cards of this type are pre-loaded, meaning that the credit limit you have it what you load onto the card, by pre payment. If you want to control your spending and know how much you have, this credit card is what you need. They are also great for those who want to learn about managing money as well. Another great thing about these cards is the fact that they will give you power and convenience of a credit card - yet they will allow you to live within the means of your income as well.
Before you rush and get one of these credit cards, you should first look around and find the best deal possible. Most no bank account credit cards offer you same rewards and incentives of traditional credit cards, along with online access to your account. The best cards are accepted across the world, and offer you ATM access for instant cash. If a card doesn't offer you these types of features, you should pass it by and look for one that does.
Other things to look for with no bank account credit cards include low APR rates, no annual fees, and excellent customer support. Customer support is very important with these types of credit cards, as you don't want a card that doesn't offer you great customer support. If you encounter a problem, you want a company that is going to be there when it matters the most.
If you take your time and research no bank account credit cards, you'll find one that you can't refuse. There are many to choose from, especially if you look online. You should always compare features and rates, and look for companies that offer you cards with excellent features and low rates. This way, you can get everything you love from traditional credit cards - without having to worry about your credit or needing to have a bank account.
Having a credit card is a great thing indeed, although most are hard to obtain for those who have a less than perfect credit history. The restrictions for getting most credit cards are so tough that those who have bad credit may find it nearly impossible to get a credit card, or they find themselves hit with extremely high APR rates, and find it hard to compete with the interest.
For those who have less than perfect credit or no bank account, there is hope. There are credit cards known as no bank account cards, that can help those with bad credit. These types of credit cards are quite easy to obtain, and they can actually help you to get your credit back and track and live the life you've always dreamed of.
Credit cards of this type are pre-loaded, meaning that the credit limit you have it what you load onto the card, by pre payment. If you want to control your spending and know how much you have, this credit card is what you need. They are also great for those who want to learn about managing money as well. Another great thing about these cards is the fact that they will give you power and convenience of a credit card - yet they will allow you to live within the means of your income as well.
Before you rush and get one of these credit cards, you should first look around and find the best deal possible. Most no bank account credit cards offer you same rewards and incentives of traditional credit cards, along with online access to your account. The best cards are accepted across the world, and offer you ATM access for instant cash. If a card doesn't offer you these types of features, you should pass it by and look for one that does.
Other things to look for with no bank account credit cards include low APR rates, no annual fees, and excellent customer support. Customer support is very important with these types of credit cards, as you don't want a card that doesn't offer you great customer support. If you encounter a problem, you want a company that is going to be there when it matters the most.
If you take your time and research no bank account credit cards, you'll find one that you can't refuse. There are many to choose from, especially if you look online. You should always compare features and rates, and look for companies that offer you cards with excellent features and low rates. This way, you can get everything you love from traditional credit cards - without having to worry about your credit or needing to have a bank account.
Credit Cards Best Offers
Credit Cards Best Offers
With many people, looking for the best credit is a very tough task. Even though there really is no "best" credit card, there are credit cards out there that are the best for you. There are many different types of credit cards available, some that may be for you and some that won't. With so many to choose from, it can be tough finding your ideal credit card.
No matter type of lifestyle you have, how much money you are looking to spend, or how you plan to use your credit card, the one thing you should always pay very close attention to when choosing your card is the APR. Most people, choose the credit cards with the lowest APR, which gives you better interest rates. The lower the number of APR you can get, the less you'll have to pay. Many times, the best credit card offers are those with the lowest interest rates.
No matter what type of credit card you choose, you should always pick the one that best fits your needs and interests. If you look at several of the companies and compare their rates, you'll find the best possible deals. You should always compare companies and what they offer before you make a decision, so that you can find which company fits as your best credit card offer.
If you have never applied for a credit card before, you may find it quite difficult to get a low interest rate. If this is the case, you'll find other offers that will give you what you need. Those of you who have bad credit or no credit, will obviously need to look into credit cards that will give you credit at the best possible deal. Once you have had your credit card for period of time and begin to establish credit, you'll be able to go back and apply for credit cards that offer a much lower APR, or interest rate.
Although you may get an offer from a company that sounds amazing, you should read the fine print before you sign the dotted line, then look around at other companies. With the credit card industry being so competitive, there are hundreds and hundreds of companies out there willing to compete for your business. Before you rush into an agreement, you should always find out what other companies will off you.
No matter how you go about getting your credit card, you should always look around for your ideal credit card offer. Even though your choice may be questioned by others, it will be the credit card that you feel most comfortable with. If you put some time and research into looking and compare other offers - you'll find the best credit card for you and your money.
With many people, looking for the best credit is a very tough task. Even though there really is no "best" credit card, there are credit cards out there that are the best for you. There are many different types of credit cards available, some that may be for you and some that won't. With so many to choose from, it can be tough finding your ideal credit card.
No matter type of lifestyle you have, how much money you are looking to spend, or how you plan to use your credit card, the one thing you should always pay very close attention to when choosing your card is the APR. Most people, choose the credit cards with the lowest APR, which gives you better interest rates. The lower the number of APR you can get, the less you'll have to pay. Many times, the best credit card offers are those with the lowest interest rates.
No matter what type of credit card you choose, you should always pick the one that best fits your needs and interests. If you look at several of the companies and compare their rates, you'll find the best possible deals. You should always compare companies and what they offer before you make a decision, so that you can find which company fits as your best credit card offer.
If you have never applied for a credit card before, you may find it quite difficult to get a low interest rate. If this is the case, you'll find other offers that will give you what you need. Those of you who have bad credit or no credit, will obviously need to look into credit cards that will give you credit at the best possible deal. Once you have had your credit card for period of time and begin to establish credit, you'll be able to go back and apply for credit cards that offer a much lower APR, or interest rate.
Although you may get an offer from a company that sounds amazing, you should read the fine print before you sign the dotted line, then look around at other companies. With the credit card industry being so competitive, there are hundreds and hundreds of companies out there willing to compete for your business. Before you rush into an agreement, you should always find out what other companies will off you.
No matter how you go about getting your credit card, you should always look around for your ideal credit card offer. Even though your choice may be questioned by others, it will be the credit card that you feel most comfortable with. If you put some time and research into looking and compare other offers - you'll find the best credit card for you and your money.
Regarding Student Credit Cards
Regarding Student Credit Cards
In today's world, having a credit card is a luxury. Credit cards are a great convenience, meaning that you don't need to worry about cash when making a purchase. Although some credit cards have strict requirements, there are a lot of manufacturers that are giving both high school and college students the chance to get their own credit cards. Student credit cards can be used the same way as a traditional credit card, although they do come with certain restrictions and limitations that other credit cards don't normally have.
A lot of companies and banks that offer student credit cards will normally need a co-signer as a form of insurance or collateral. This person will sign on the loan with the student, and will be the person the company falls back on if the student is unable to pay the bill. Normally a parent or guardian, the co-signer is considered to be back up and a peace of mind for the issuer of the student credit card, as they can always count on the co-signer with good credit to pay if the student can't.
Normally, the APR or interest rate is higher with student credit cards, which helps to minimize the risk for the company. The spending limit is also different with these credit cards, as most are between 250 - 800 dollars. The reason for this, is because most students have established any credit, and therefore won't have a great credit rating. Although the spending limit is obviously lower with these cards than other credit cards, they will still help students establish credit.
Students who plan to make a large purchase, can greatly benefit from using student credit cards. To make large purchases, you'll need good credit - which is where a student credit card can really help out. You can use these credit cards as a stepping stone to building credit, and establishing a good credit rating. If you can get your credit rating high with your credit card, you'll then be able to be approved for much higher loans in the future.
Student credit cards can also help students gain a sense of responsibility. The card works just like any other credit card, although the spending limit is much lower. Once the student has mastered usage of the card, he or she can manage money much better later on in life. These cards are great for students to have, and can teach them money skills that will last a lifetime.
Just like traditional credit cards, students should also know that student credits cards can be dangerous. Although they are great to have, there are pitfalls such as overspending. If students spend more money than they having coming in, they will be unable to pay their credit card bill, which will then affect their credit. If the company goes after the co-signer to pay the bill, it could also affect their credit as well. Therefore, students should always have a budget in mind before they start using their credit cards.
All in all, student credit cards are great to have. For high school students or college students, these credit cards are a means of freedom, and a way to teach responsibility. They can come in handy during emergencies, which is reason enough to invest in them. If your son or daughter is in school right now, you should look into student credit cards. They can help your child to establish credit - which will take them farther wherever they go in life.
In today's world, having a credit card is a luxury. Credit cards are a great convenience, meaning that you don't need to worry about cash when making a purchase. Although some credit cards have strict requirements, there are a lot of manufacturers that are giving both high school and college students the chance to get their own credit cards. Student credit cards can be used the same way as a traditional credit card, although they do come with certain restrictions and limitations that other credit cards don't normally have.
A lot of companies and banks that offer student credit cards will normally need a co-signer as a form of insurance or collateral. This person will sign on the loan with the student, and will be the person the company falls back on if the student is unable to pay the bill. Normally a parent or guardian, the co-signer is considered to be back up and a peace of mind for the issuer of the student credit card, as they can always count on the co-signer with good credit to pay if the student can't.
Normally, the APR or interest rate is higher with student credit cards, which helps to minimize the risk for the company. The spending limit is also different with these credit cards, as most are between 250 - 800 dollars. The reason for this, is because most students have established any credit, and therefore won't have a great credit rating. Although the spending limit is obviously lower with these cards than other credit cards, they will still help students establish credit.
Students who plan to make a large purchase, can greatly benefit from using student credit cards. To make large purchases, you'll need good credit - which is where a student credit card can really help out. You can use these credit cards as a stepping stone to building credit, and establishing a good credit rating. If you can get your credit rating high with your credit card, you'll then be able to be approved for much higher loans in the future.
Student credit cards can also help students gain a sense of responsibility. The card works just like any other credit card, although the spending limit is much lower. Once the student has mastered usage of the card, he or she can manage money much better later on in life. These cards are great for students to have, and can teach them money skills that will last a lifetime.
Just like traditional credit cards, students should also know that student credits cards can be dangerous. Although they are great to have, there are pitfalls such as overspending. If students spend more money than they having coming in, they will be unable to pay their credit card bill, which will then affect their credit. If the company goes after the co-signer to pay the bill, it could also affect their credit as well. Therefore, students should always have a budget in mind before they start using their credit cards.
All in all, student credit cards are great to have. For high school students or college students, these credit cards are a means of freedom, and a way to teach responsibility. They can come in handy during emergencies, which is reason enough to invest in them. If your son or daughter is in school right now, you should look into student credit cards. They can help your child to establish credit - which will take them farther wherever they go in life.
วันอังคารที่ 13 ตุลาคม พ.ศ. 2552
Credit Cards & How They Work
Credit Cards & How They Work
Those with less than a desirable credit history can be hurt severely by insurance, car loan and mortgage rates. Not only that but it can be extremely hard to even get a credit card. The whole financial picture can become a nightmare.
Quite often consumers wonder what they can do to rebuild their credit. The first thing is to get a credit card designed for people with bad credit. The second thing is: READ THE FINE PRINT.
There are only so many credit cards available for people with bad credit. At first glance, many look the same. They all help build and rebuild your credit by reporting to the major credit bureaus on a monthly basis. They all provide you with the Visa or Mastercard you need to make many purchases. And they are all necessary evils that can save you thousands of dollars in mortgage and car loan rates in the future.
You must read the fine print before applying for one of these credit cards, as they often charge high yearly fees, set-up fees, and even monthly fees. Here, are a few examples of charges current "bad credit" credit cards bury in the fine print. Of the three major cards, only one stands out as consumer-friendly. Which one is it? Read and Heed.
"Bad Credit" Credit Card #1:
This credit card charges a very low interest rate for an unsecured credit card. However, your first fine print glimpse reveals that there is a one time setup fee of $29. Not too bad. So far, since the next charge is a one time fee of $95. So far, we're up to $124 in expenses. That's got to be it, right? No. Add in another $48 for the annual fee and $6 per month in account maintenance fees. That's brings the cost of your new credit card to $244 the first year, and $120 each additional year. This is no small change, and a card such as this should be considered only if you cannot be accepted for a better unsecured credit card for bad credit.
"Bad Credit" Credit Card #2:
This credit card charges a very high interest rate for an unsecured credit card. This can't be good. But the setup fee is only $29. Maybe this card isn't so bad. There is that pesky monthly maintenance fee of $6.50 per month which brings the cost of this unsecured credit card to $107. Maybe we've found a bargain. Not quite. The annual fee is a whopping $150. Yes, $150 every year. That not only brings the initial cost up to $257, but you will also pay $228 a year just to maintain the credit card. There has to be a better offer.
"Bad Credit" Credit Card #3:
This credit card is available as both a secured and unsecured credit card, based on the issuer's review of your credit history. The interest rate is average, even competitive. Now, the fine print reveals that there is a one time setup fee. However, based on your credit, this fee can be as low as $0 or as high as $49. So far so good, especially if your credit is not that bad. But, there must be a huge annual fee. Not exactly. The annual fee for a secured credit card is only $35, and for an unsecured credit card, this fee can be as low as $39 or up to $79. So far, the cost of this card ranges from $35 to $128. Now its time for the monthly maintance fee. This one has to be huge. Or not. Its $0. That means the most you could possible be charged to obtain this credit card is $128, about half of what competing cards are charging.
Clearly, there are substantial difference between "bad credit" credit cards. Of the three offers we have examined, only one doesn't take you to the cleaners. In fact, "bad credit" credit card #3 provides great value. All positive changes to your credit history and credit score will translate into lower loan rates, lower credit card interest rates, lower insurance rates, and ultimately, thousands of dollars in savings. The path to rebuilding credit has its costs, but in the long term, rebuilding your credit with a "bad credit" credit card is the fastest and most cost-efficient way to correct the often unfortunate circumstances that have damaged your credit in the first place.©2006 Credit Card Depot Inc.
Those with less than a desirable credit history can be hurt severely by insurance, car loan and mortgage rates. Not only that but it can be extremely hard to even get a credit card. The whole financial picture can become a nightmare.
Quite often consumers wonder what they can do to rebuild their credit. The first thing is to get a credit card designed for people with bad credit. The second thing is: READ THE FINE PRINT.
There are only so many credit cards available for people with bad credit. At first glance, many look the same. They all help build and rebuild your credit by reporting to the major credit bureaus on a monthly basis. They all provide you with the Visa or Mastercard you need to make many purchases. And they are all necessary evils that can save you thousands of dollars in mortgage and car loan rates in the future.
You must read the fine print before applying for one of these credit cards, as they often charge high yearly fees, set-up fees, and even monthly fees. Here, are a few examples of charges current "bad credit" credit cards bury in the fine print. Of the three major cards, only one stands out as consumer-friendly. Which one is it? Read and Heed.
"Bad Credit" Credit Card #1:
This credit card charges a very low interest rate for an unsecured credit card. However, your first fine print glimpse reveals that there is a one time setup fee of $29. Not too bad. So far, since the next charge is a one time fee of $95. So far, we're up to $124 in expenses. That's got to be it, right? No. Add in another $48 for the annual fee and $6 per month in account maintenance fees. That's brings the cost of your new credit card to $244 the first year, and $120 each additional year. This is no small change, and a card such as this should be considered only if you cannot be accepted for a better unsecured credit card for bad credit.
"Bad Credit" Credit Card #2:
This credit card charges a very high interest rate for an unsecured credit card. This can't be good. But the setup fee is only $29. Maybe this card isn't so bad. There is that pesky monthly maintenance fee of $6.50 per month which brings the cost of this unsecured credit card to $107. Maybe we've found a bargain. Not quite. The annual fee is a whopping $150. Yes, $150 every year. That not only brings the initial cost up to $257, but you will also pay $228 a year just to maintain the credit card. There has to be a better offer.
"Bad Credit" Credit Card #3:
This credit card is available as both a secured and unsecured credit card, based on the issuer's review of your credit history. The interest rate is average, even competitive. Now, the fine print reveals that there is a one time setup fee. However, based on your credit, this fee can be as low as $0 or as high as $49. So far so good, especially if your credit is not that bad. But, there must be a huge annual fee. Not exactly. The annual fee for a secured credit card is only $35, and for an unsecured credit card, this fee can be as low as $39 or up to $79. So far, the cost of this card ranges from $35 to $128. Now its time for the monthly maintance fee. This one has to be huge. Or not. Its $0. That means the most you could possible be charged to obtain this credit card is $128, about half of what competing cards are charging.
Clearly, there are substantial difference between "bad credit" credit cards. Of the three offers we have examined, only one doesn't take you to the cleaners. In fact, "bad credit" credit card #3 provides great value. All positive changes to your credit history and credit score will translate into lower loan rates, lower credit card interest rates, lower insurance rates, and ultimately, thousands of dollars in savings. The path to rebuilding credit has its costs, but in the long term, rebuilding your credit with a "bad credit" credit card is the fastest and most cost-efficient way to correct the often unfortunate circumstances that have damaged your credit in the first place.©2006 Credit Card Depot Inc.
วันจันทร์ที่ 12 ตุลาคม พ.ศ. 2552
Credit Cards and Teens
Credit Cards and Teens
With credit-card offers coming as fast as keg party invites, college freshmen need some guidance.
The typical college freshman is burdened enough by scholar responsibilities, homesickness and self-doubt. To keep tomorrow's freshmen from suffering the additional anxiety brought by a first checking account, start them off sooner, as early as their junior year in high school. Initially, keep it simple, avoiding frills and extras like overdraft protection; they need to experience the reality of bounced checks to understand record-keeping responsibilities. Many college freshmen today have credit cards, and if your kid is to be one of them, then this, too, has a learning curve that is best experienced under your guidance. Before your kids acquire their credit cards, they'll need a lesson in how to use plastic responsibly. Point out that this is where most individuals' finances go seriously out of control, and illustrate your point with interest tables that show the damage that 18% annual interest, compounded over the years, can do to their savings potential. Also, tell them that credit is a privilege, not a right, and that if they abuse it, they will lose their ability to get more. After setting up criteria for the use of a credit card, start them off with training wheels in the form of a secured card - in which the holder charges only up to a cash account kept with the issuer. This way, they become accustomed to using the card judiciously without getting in hock. If their purchases are sound enough, then move on to an ordinary credit card, encouraging them to pay the balance the end of each month to avoid interest charges. When your kids go out to make purchases on this card, they may be tempted by same-as-cash purchase offers, in which buyers of items like appliances are allowed to borrow interest-free as long as they pay off the balance within a set period (usually six months). Some financial planners advise against using same-as-cash. "It disassociates the cost from the benefit.
With credit-card offers coming as fast as keg party invites, college freshmen need some guidance.
The typical college freshman is burdened enough by scholar responsibilities, homesickness and self-doubt. To keep tomorrow's freshmen from suffering the additional anxiety brought by a first checking account, start them off sooner, as early as their junior year in high school. Initially, keep it simple, avoiding frills and extras like overdraft protection; they need to experience the reality of bounced checks to understand record-keeping responsibilities. Many college freshmen today have credit cards, and if your kid is to be one of them, then this, too, has a learning curve that is best experienced under your guidance. Before your kids acquire their credit cards, they'll need a lesson in how to use plastic responsibly. Point out that this is where most individuals' finances go seriously out of control, and illustrate your point with interest tables that show the damage that 18% annual interest, compounded over the years, can do to their savings potential. Also, tell them that credit is a privilege, not a right, and that if they abuse it, they will lose their ability to get more. After setting up criteria for the use of a credit card, start them off with training wheels in the form of a secured card - in which the holder charges only up to a cash account kept with the issuer. This way, they become accustomed to using the card judiciously without getting in hock. If their purchases are sound enough, then move on to an ordinary credit card, encouraging them to pay the balance the end of each month to avoid interest charges. When your kids go out to make purchases on this card, they may be tempted by same-as-cash purchase offers, in which buyers of items like appliances are allowed to borrow interest-free as long as they pay off the balance within a set period (usually six months). Some financial planners advise against using same-as-cash. "It disassociates the cost from the benefit.
วันพฤหัสบดีที่ 8 ตุลาคม พ.ศ. 2552
Gas Rebate Credit Cards May Not Be The Best For Reducing Your Gas Costs
Gas Rebate Credit Cards May Not Be The Best For Reducing Your Gas Costs
Gas rebate credit cards are presented to you with the promise of getting money back for purchases you make at gas stations. Typically they offer larger rewards at the beginning to entice you to apply for the card but you soon find out that the larger rewards are usually only for a short time.
After the initial period those cards offer much smaller rewards. Your 5 or 6 percent rate goes down to 1 or 2 percent. Even at that, you may say to yourself, something back is better than nothing. That may not be true.
If you are a typical driver, you drive a car that gets around 25 miles per gallon fuel economy. You drive about 15,000 miles per year and consequently you use about 600 gallons of fuel per year.
Your annual fuel cost is around $1,500 dollars per year depending on the fuel cost but at around $2.50 per gallon that's your cost. That number in itself is eye opening, that you spend $1,500 per year on gas. That's for one car. A two car family would spend double.
How much are you getting back as your 5% reward? At $1500 per year in gasoline costs, you are getting $75 back. Now if the credit card changes the rate after 3 months to 2 percent (which is very common) you are only getting back $41.
If you have one late payment during the year and the credit company slaps you with a late charge of $39 you just gave up your whole years gas reward. So are you really getting much of a deal here?
Contrast that with Customer Loyalty gas cah back programs that pay anywhere from $100 to $300 per year. Using the same numbers, if you happen to be part of the $300 cash back for gas customer loyalty program you get back $300 for your annual gasoline expenditure of $1500. That equates to a 20% rebate. The best part is, it is not connected to a credit card so there is no chance of a late charge penalty.
Which would you rather have, a $41 refund for fuel or a $300 refund for fuel? Would you rather get a 2% to 5% rebate or a 20% rebate.
The next time you consider getting a gas rebate credit card think about how much you are actually getting back. Think about what that card is actually costing you and how much you actually find in your pocket after using the card for a year. Then think about other alternatives that may make more sense in helping you to reduce you gas expenses.
Gas rebate credit cards are presented to you with the promise of getting money back for purchases you make at gas stations. Typically they offer larger rewards at the beginning to entice you to apply for the card but you soon find out that the larger rewards are usually only for a short time.
After the initial period those cards offer much smaller rewards. Your 5 or 6 percent rate goes down to 1 or 2 percent. Even at that, you may say to yourself, something back is better than nothing. That may not be true.
If you are a typical driver, you drive a car that gets around 25 miles per gallon fuel economy. You drive about 15,000 miles per year and consequently you use about 600 gallons of fuel per year.
Your annual fuel cost is around $1,500 dollars per year depending on the fuel cost but at around $2.50 per gallon that's your cost. That number in itself is eye opening, that you spend $1,500 per year on gas. That's for one car. A two car family would spend double.
How much are you getting back as your 5% reward? At $1500 per year in gasoline costs, you are getting $75 back. Now if the credit card changes the rate after 3 months to 2 percent (which is very common) you are only getting back $41.
If you have one late payment during the year and the credit company slaps you with a late charge of $39 you just gave up your whole years gas reward. So are you really getting much of a deal here?
Contrast that with Customer Loyalty gas cah back programs that pay anywhere from $100 to $300 per year. Using the same numbers, if you happen to be part of the $300 cash back for gas customer loyalty program you get back $300 for your annual gasoline expenditure of $1500. That equates to a 20% rebate. The best part is, it is not connected to a credit card so there is no chance of a late charge penalty.
Which would you rather have, a $41 refund for fuel or a $300 refund for fuel? Would you rather get a 2% to 5% rebate or a 20% rebate.
The next time you consider getting a gas rebate credit card think about how much you are actually getting back. Think about what that card is actually costing you and how much you actually find in your pocket after using the card for a year. Then think about other alternatives that may make more sense in helping you to reduce you gas expenses.
Gas Rebate Credit Cards May Not Be The Best For Reducing Your Gas Costs
Gas Rebate Credit Cards May Not Be The Best For Reducing Your Gas Costs
Gas rebate credit cards are presented to you with the promise of getting money back for purchases you make at gas stations. Typically they offer larger rewards at the beginning to entice you to apply for the card but you soon find out that the larger rewards are usually only for a short time.
After the initial period those cards offer much smaller rewards. Your 5 or 6 percent rate goes down to 1 or 2 percent. Even at that, you may say to yourself, something back is better than nothing. That may not be true.
If you are a typical driver, you drive a car that gets around 25 miles per gallon fuel economy. You drive about 15,000 miles per year and consequently you use about 600 gallons of fuel per year.
Your annual fuel cost is around $1,500 dollars per year depending on the fuel cost but at around $2.50 per gallon that's your cost. That number in itself is eye opening, that you spend $1,500 per year on gas. That's for one car. A two car family would spend double.
How much are you getting back as your 5% reward? At $1500 per year in gasoline costs, you are getting $75 back. Now if the credit card changes the rate after 3 months to 2 percent (which is very common) you are only getting back $41.
If you have one late payment during the year and the credit company slaps you with a late charge of $39 you just gave up your whole years gas reward. So are you really getting much of a deal here?
Contrast that with Customer Loyalty gas cah back programs that pay anywhere from $100 to $300 per year. Using the same numbers, if you happen to be part of the $300 cash back for gas customer loyalty program you get back $300 for your annual gasoline expenditure of $1500. That equates to a 20% rebate. The best part is, it is not connected to a credit card so there is no chance of a late charge penalty.
Which would you rather have, a $41 refund for fuel or a $300 refund for fuel? Would you rather get a 2% to 5% rebate or a 20% rebate.
The next time you consider getting a gas rebate credit card think about how much you are actually getting back. Think about what that card is actually costing you and how much you actually find in your pocket after using the card for a year. Then think about other alternatives that may make more sense in helping you to reduce you gas expenses.
Gas rebate credit cards are presented to you with the promise of getting money back for purchases you make at gas stations. Typically they offer larger rewards at the beginning to entice you to apply for the card but you soon find out that the larger rewards are usually only for a short time.
After the initial period those cards offer much smaller rewards. Your 5 or 6 percent rate goes down to 1 or 2 percent. Even at that, you may say to yourself, something back is better than nothing. That may not be true.
If you are a typical driver, you drive a car that gets around 25 miles per gallon fuel economy. You drive about 15,000 miles per year and consequently you use about 600 gallons of fuel per year.
Your annual fuel cost is around $1,500 dollars per year depending on the fuel cost but at around $2.50 per gallon that's your cost. That number in itself is eye opening, that you spend $1,500 per year on gas. That's for one car. A two car family would spend double.
How much are you getting back as your 5% reward? At $1500 per year in gasoline costs, you are getting $75 back. Now if the credit card changes the rate after 3 months to 2 percent (which is very common) you are only getting back $41.
If you have one late payment during the year and the credit company slaps you with a late charge of $39 you just gave up your whole years gas reward. So are you really getting much of a deal here?
Contrast that with Customer Loyalty gas cah back programs that pay anywhere from $100 to $300 per year. Using the same numbers, if you happen to be part of the $300 cash back for gas customer loyalty program you get back $300 for your annual gasoline expenditure of $1500. That equates to a 20% rebate. The best part is, it is not connected to a credit card so there is no chance of a late charge penalty.
Which would you rather have, a $41 refund for fuel or a $300 refund for fuel? Would you rather get a 2% to 5% rebate or a 20% rebate.
The next time you consider getting a gas rebate credit card think about how much you are actually getting back. Think about what that card is actually costing you and how much you actually find in your pocket after using the card for a year. Then think about other alternatives that may make more sense in helping you to reduce you gas expenses.
วันอังคารที่ 6 ตุลาคม พ.ศ. 2552
Credit Finance, What To Consider Before Applying For One
Credit Finance, What To Consider Before Applying For One
It is important to understand the way that credit finance works because many people have gone into it without fully comprehending the consequences. It is easy to end up amassing debt and having problems that are avoidable if you have discipline. There are many types of credit and it is crucial that you realize what can affect your credit. There are credit cards and loans. It is important that you use them wisely. When you want to get records of your credit history you can view a report. This is especially significant when you are looking for sources of funding in the form of a loan.
The potential lenders will assess your history to see if you are capable of making timely payments. It will show the sort of accounts that you have and your credit limits. Many people do not understand how the various lines of credit work.
It important when dealing with credit finance that you understand the small things like the interest rates, penalties and fees charged. This is vital because usually debt stems from these areas. If you want to get a credit card, it is advisable that you read all the information before you sign up. Having credit in moderation is good because lenders like individuals with low debt in comparison to their income.
Credit finance is a great way to get asset, start a business, and pay bills that would otherwise be difficult to do. It has helped many people achieve their dreams but you must realize that you have to make your payments promptly or you may end up having financial problems.
It is important to understand the way that credit finance works because many people have gone into it without fully comprehending the consequences. It is easy to end up amassing debt and having problems that are avoidable if you have discipline. There are many types of credit and it is crucial that you realize what can affect your credit. There are credit cards and loans. It is important that you use them wisely. When you want to get records of your credit history you can view a report. This is especially significant when you are looking for sources of funding in the form of a loan.
The potential lenders will assess your history to see if you are capable of making timely payments. It will show the sort of accounts that you have and your credit limits. Many people do not understand how the various lines of credit work.
It important when dealing with credit finance that you understand the small things like the interest rates, penalties and fees charged. This is vital because usually debt stems from these areas. If you want to get a credit card, it is advisable that you read all the information before you sign up. Having credit in moderation is good because lenders like individuals with low debt in comparison to their income.
Credit finance is a great way to get asset, start a business, and pay bills that would otherwise be difficult to do. It has helped many people achieve their dreams but you must realize that you have to make your payments promptly or you may end up having financial problems.
วันศุกร์ที่ 25 กันยายน พ.ศ. 2552
The Truth About Credit Cards and What To Do About It
The Truth About Credit Cards and What To Do About It
There is a lot of misinformation being propagated by the media and many financial professionals and personal finance gurus. The real problem is that almost everyone believes them. I won't talk about the specific myths here, because I do that in my book, but I am going to talk about the reality we are facing with credit cards as consumers. Credit cards do more to harm the financial health of households in the U.S. than any other financial instrument available. Interest rates almost brought down the banking industry in the early 1980s when banks were upside down on interest, paying out higher interest rates than what they were collecting on their established fixed rate loans. That was until they took advantage of a Supreme Court decision in 1978, Marquette vs. First Omaha Service Corp., which opened the door for unlimited interest rates, even in states where interest rates were limited. This is done by virtue of the national bank basing their operations in a state with no interest rate limit. (Bankrate.com, "The Higher the Balance, The Higher The Late Fee", by Lucy Lazarony, Feb. 27, 2003) That is why Citibank is based in South Dakota. Special political deals were made with the state's Governor to allow this kind of practice to be legal. That is because in 1980 the South Dakota economy was in trouble. Citibank seized the opportunity and agreed to relocate their corporate offices to escape the usury laws they were under at the time.
Today, credit card holders are subjected to abusive agreements that are loaded with tricks and traps that catch them in snares that they cannot escape from. When trapped, they pay interest rates up to 34% and fees such as late fees which actually calculate to an effective 400% APR in many cases for defaulting accounts when you include fees. Then there is over limit fees, double cycle billing interest rate calculations, grace periods that disappear, mysterious phone charges, and lately a re-emerging annual fee. The agreements are difficult even for an attorney to decipher. Card holders think they are gaming the system by paying off their balances every month and accumulating frequent flier miles and other kinds of rewards. But the reality is that very few of those miles actually get cashed in before they expire, due to the ever increasing limitations on their use. In the meantime, consumers spend 12% to 18% more when using credit cards instead of cash, according to the American Bankers Association. Banking industry associations admit that defaulting cardholders are the sweet spot of the industry, where 75% of the profits are generated. In 2005, interest and penalties accounted for almost $80 billion in revenues. (Bank Card Profitability, 2005-2004, CardWeb 2006)
Credit card companies have been targeting customers who are likely to default and they craft their agreements carefully to make them confusing and contradictory. They use open ended contract terms where they can change the agreement with an easy to miss notice in the mail. This also allows them to default customers on the slightest infractions. At that point they can enforce the default terms of the agreement without notice to the cardholder. This has come to be known as "universal default". The industry denies the practice, but evidence of consumer complaints shows it is widely practiced and implemented.
The industry claims "risk based pricing" is used to charge interest according to the customer's likelihood to default. However, the universal default practice has made it possible for them to default a customer for simply getting a small drop in their FICO score rating, a score that is fraught with errors from inaccurate reporting to creditors by the very companies that profit from the drop in scores. Isn't that a conflict of interest, and shouldn't it be illegal? The marketing message is the "Life Takes VISA", insinuating that it is a requirement to carry one in today's world. A marketing message that has been largely successful since most everyone believes it. Yet, it is more accurate to say that VISA takes life, because it is putting more Americans in debt with clever contracts and marketing tricks. What is the solution? Don't use credit cards. If Americans were driving cars that exploded without warning and millions died every day, they'd stop buying cars and find another mode of transportation. Why is it that Americans insist on using a product that is intent on defrauding them and causing millions of families financial hardship? I am amazed at how difficult it is for people to get this concept.
There is a lot of misinformation being propagated by the media and many financial professionals and personal finance gurus. The real problem is that almost everyone believes them. I won't talk about the specific myths here, because I do that in my book, but I am going to talk about the reality we are facing with credit cards as consumers. Credit cards do more to harm the financial health of households in the U.S. than any other financial instrument available. Interest rates almost brought down the banking industry in the early 1980s when banks were upside down on interest, paying out higher interest rates than what they were collecting on their established fixed rate loans. That was until they took advantage of a Supreme Court decision in 1978, Marquette vs. First Omaha Service Corp., which opened the door for unlimited interest rates, even in states where interest rates were limited. This is done by virtue of the national bank basing their operations in a state with no interest rate limit. (Bankrate.com, "The Higher the Balance, The Higher The Late Fee", by Lucy Lazarony, Feb. 27, 2003) That is why Citibank is based in South Dakota. Special political deals were made with the state's Governor to allow this kind of practice to be legal. That is because in 1980 the South Dakota economy was in trouble. Citibank seized the opportunity and agreed to relocate their corporate offices to escape the usury laws they were under at the time.
Today, credit card holders are subjected to abusive agreements that are loaded with tricks and traps that catch them in snares that they cannot escape from. When trapped, they pay interest rates up to 34% and fees such as late fees which actually calculate to an effective 400% APR in many cases for defaulting accounts when you include fees. Then there is over limit fees, double cycle billing interest rate calculations, grace periods that disappear, mysterious phone charges, and lately a re-emerging annual fee. The agreements are difficult even for an attorney to decipher. Card holders think they are gaming the system by paying off their balances every month and accumulating frequent flier miles and other kinds of rewards. But the reality is that very few of those miles actually get cashed in before they expire, due to the ever increasing limitations on their use. In the meantime, consumers spend 12% to 18% more when using credit cards instead of cash, according to the American Bankers Association. Banking industry associations admit that defaulting cardholders are the sweet spot of the industry, where 75% of the profits are generated. In 2005, interest and penalties accounted for almost $80 billion in revenues. (Bank Card Profitability, 2005-2004, CardWeb 2006)
Credit card companies have been targeting customers who are likely to default and they craft their agreements carefully to make them confusing and contradictory. They use open ended contract terms where they can change the agreement with an easy to miss notice in the mail. This also allows them to default customers on the slightest infractions. At that point they can enforce the default terms of the agreement without notice to the cardholder. This has come to be known as "universal default". The industry denies the practice, but evidence of consumer complaints shows it is widely practiced and implemented.
The industry claims "risk based pricing" is used to charge interest according to the customer's likelihood to default. However, the universal default practice has made it possible for them to default a customer for simply getting a small drop in their FICO score rating, a score that is fraught with errors from inaccurate reporting to creditors by the very companies that profit from the drop in scores. Isn't that a conflict of interest, and shouldn't it be illegal? The marketing message is the "Life Takes VISA", insinuating that it is a requirement to carry one in today's world. A marketing message that has been largely successful since most everyone believes it. Yet, it is more accurate to say that VISA takes life, because it is putting more Americans in debt with clever contracts and marketing tricks. What is the solution? Don't use credit cards. If Americans were driving cars that exploded without warning and millions died every day, they'd stop buying cars and find another mode of transportation. Why is it that Americans insist on using a product that is intent on defrauding them and causing millions of families financial hardship? I am amazed at how difficult it is for people to get this concept.
Cash advance no debit card: Gain Financial Assistance without Debit Card
Cash advance no debit card: Gain Financial Assistance without Debit Card
Now, there is need to pledge your debit card as security with the lender because cash advance no debit card is free from collateral valuation process. You can secure required amount instantly without pledging your debit card. These loans are simply available in the market but to get the best deal systematic online research is desired. But to avail the funds by the cash advance no debit cardyou need to fulfill certain pre-requisite eligibility criteria. The criteria are as follows: o You must possess a valid bank account o Your age must be 18 years or more o You must be currently employed and earning income of £1000 per month o You must be UK citizen. After fulfilling above mentioned criteria you are able to avail the funds ranging from £100 to £1500 as per your specific requirements. The borrowed amount can be easily repaid within 14-31 days. As these loans are short term loans so you need to pay high interest charges to the lender. So, be careful in repaying the amount as delaying in payment can cause extra penalty charges.
These payday loans no debit cardare approved easily as it is free from all the prolonged formalities. This loan facility available with outstanding benefits likes no credit verification, no faxing procedure, no documentation, supple terms, hassle free loan application process and immediate approval. The approved amount will directly get credit in to your bank account in a less span of time.
These loans considered to be the best tool for availing appropriate fiscal support. Through these loans you can fulfill several short term requirements like credit card payment, paying grocery bills, education fee, pay house rent etc. Online mode considered to be the best technique to avail the funds on time with ease and comfort. Within next 24 hours your amount will get credit into your saving account.
All credit borrowers may easily apply for these loans as it is free from credit check and collateral valuation process. Now get instant cash approval without meeting tedious formalities.
Now, there is need to pledge your debit card as security with the lender because cash advance no debit card is free from collateral valuation process. You can secure required amount instantly without pledging your debit card. These loans are simply available in the market but to get the best deal systematic online research is desired. But to avail the funds by the cash advance no debit cardyou need to fulfill certain pre-requisite eligibility criteria. The criteria are as follows: o You must possess a valid bank account o Your age must be 18 years or more o You must be currently employed and earning income of £1000 per month o You must be UK citizen. After fulfilling above mentioned criteria you are able to avail the funds ranging from £100 to £1500 as per your specific requirements. The borrowed amount can be easily repaid within 14-31 days. As these loans are short term loans so you need to pay high interest charges to the lender. So, be careful in repaying the amount as delaying in payment can cause extra penalty charges.
These payday loans no debit cardare approved easily as it is free from all the prolonged formalities. This loan facility available with outstanding benefits likes no credit verification, no faxing procedure, no documentation, supple terms, hassle free loan application process and immediate approval. The approved amount will directly get credit in to your bank account in a less span of time.
These loans considered to be the best tool for availing appropriate fiscal support. Through these loans you can fulfill several short term requirements like credit card payment, paying grocery bills, education fee, pay house rent etc. Online mode considered to be the best technique to avail the funds on time with ease and comfort. Within next 24 hours your amount will get credit into your saving account.
All credit borrowers may easily apply for these loans as it is free from credit check and collateral valuation process. Now get instant cash approval without meeting tedious formalities.
วันพุธที่ 23 กันยายน พ.ศ. 2552
Credit Card - Tips for Getting Approved
Credit Card - Tips for Getting Approved
Most card issuers charge you interest based on the date the money leaves your credit card, but some may base this on the date the transaction took place - up to a week before they pay the retailer.
Paying by Direct Debit is a good method of not forgetting to pay the bills. However some issuers may reserve the right to demand payment in full rather than a minimum payment if you abuse your credit card.
Although they are providing credit to you as a customer, credit cards are a buyers market. You should be able to negotiate interest rates and annual fees if you are an existing customer or have a good credit history.
Introductory interest rates act as a teaser to gain new customers. Often card issuers will make back this money by charging a much higher interest rate once the introductory period expires - make sure you aren't left with a large balance when the switch occurs.
Some card issuers are able to offer fantastic credit limits with a low interest rate. Read the small print - some issuers could charge you interest within the first month (sometimes double!) even if you pay off the balance in full at the end of the month.
Be careful of cash advances. Not only do higher interest rates apply to them, there is often a transaction fee of 2-3% and interest may be calculated from the day the cash is advanced.
Most card issuers charge you interest based on the date the money leaves your credit card, but some may base this on the date the transaction took place - up to a week before they pay the retailer.
Paying by Direct Debit is a good method of not forgetting to pay the bills. However some issuers may reserve the right to demand payment in full rather than a minimum payment if you abuse your credit card.
Although they are providing credit to you as a customer, credit cards are a buyers market. You should be able to negotiate interest rates and annual fees if you are an existing customer or have a good credit history.
Introductory interest rates act as a teaser to gain new customers. Often card issuers will make back this money by charging a much higher interest rate once the introductory period expires - make sure you aren't left with a large balance when the switch occurs.
Some card issuers are able to offer fantastic credit limits with a low interest rate. Read the small print - some issuers could charge you interest within the first month (sometimes double!) even if you pay off the balance in full at the end of the month.
Be careful of cash advances. Not only do higher interest rates apply to them, there is often a transaction fee of 2-3% and interest may be calculated from the day the cash is advanced.
Improving Credit Card Debt in 1 easy Step
Improving Credit Card Debt in 1 easy Step
If you have the credit card blues, a credit card debt consolidation loan will not only save you money but it can also reduce your debt. A debt consolidation loan will help you to pay off your debt in installments through a credit card debt consolidation plan.
Unsecured credit card debt can have very high interest rates. It is not unusual for a credit card to have an interest rate of 12.96 percent to 41 percent. It's recommended shopping around for the lowest rate possible. The lower the interest rates, the more money you will be able save. Credit card debt consolidation is for those have high credit card balances. This service actually will combine all of debtors credit card balances so that they can make one monthly payment.
Payment plans that Help Reduce a Persons Debt
Debt consolidation allows a person to have greater flexibility with their payment schedule. Many people do not realize that the longer it takes a person to repay a debt on a credit card, the more interest will build up. When credit card interest builds up, the debtor has to pay out more money. So, a person is actually paying almost double, if not more, than the purchase that was originally charged with the credit card. Fortunately, a person doesn't have to settle for paying high interest credit card debts for the rest of their lives. Debt consolidation is the first step to getting persons finances back on track and the next step towards financial freedom.
Another smart option is to apply for a long-term loan rather than actually consolidating the debt. This will stop a person from becoming enslaved by monthly credit card debt payments.
Many people do not realize that lower interest rates on credit cards can be secured with collateral. Those who do not own property a personal loan is the next best option.
When shopping around, make sure that you keep a careful look at the current APR. By looking at the APR, this will help one to calculate the cost of their loan payments. Smart credit card shoppers do not grab the first credit card that they see. Many people automatically assume that they have to stand on long lines at the bank or call the bank only to be placed on hold for several minutes. The fastest and one of the most reliable ways to shop around for the best interest rates is to search on the Internet. As you are conducting your search you and when you find a website, you can request an online quote. A representative will normally get back to you immediately or within a few short hours. After receiving your best credit card quote, you may simply choose the best credit card offer.
If you have the credit card blues, a credit card debt consolidation loan will not only save you money but it can also reduce your debt. A debt consolidation loan will help you to pay off your debt in installments through a credit card debt consolidation plan.
Unsecured credit card debt can have very high interest rates. It is not unusual for a credit card to have an interest rate of 12.96 percent to 41 percent. It's recommended shopping around for the lowest rate possible. The lower the interest rates, the more money you will be able save. Credit card debt consolidation is for those have high credit card balances. This service actually will combine all of debtors credit card balances so that they can make one monthly payment.
Payment plans that Help Reduce a Persons Debt
Debt consolidation allows a person to have greater flexibility with their payment schedule. Many people do not realize that the longer it takes a person to repay a debt on a credit card, the more interest will build up. When credit card interest builds up, the debtor has to pay out more money. So, a person is actually paying almost double, if not more, than the purchase that was originally charged with the credit card. Fortunately, a person doesn't have to settle for paying high interest credit card debts for the rest of their lives. Debt consolidation is the first step to getting persons finances back on track and the next step towards financial freedom.
Another smart option is to apply for a long-term loan rather than actually consolidating the debt. This will stop a person from becoming enslaved by monthly credit card debt payments.
Many people do not realize that lower interest rates on credit cards can be secured with collateral. Those who do not own property a personal loan is the next best option.
When shopping around, make sure that you keep a careful look at the current APR. By looking at the APR, this will help one to calculate the cost of their loan payments. Smart credit card shoppers do not grab the first credit card that they see. Many people automatically assume that they have to stand on long lines at the bank or call the bank only to be placed on hold for several minutes. The fastest and one of the most reliable ways to shop around for the best interest rates is to search on the Internet. As you are conducting your search you and when you find a website, you can request an online quote. A representative will normally get back to you immediately or within a few short hours. After receiving your best credit card quote, you may simply choose the best credit card offer.
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