There Will Be A Consultation With The Debt Relief Company

Category: Finance, Credit.

Typically, when you think about debt relief programs, you think about taking out a loan up- front, a debt consolidation loan, which is used to pay off all of your debts. However, there is another way of getting a handle on your debts that you might not be aware of.

You then only owe on the single loan rather than multiple accounts. The following multi- step strategy is an example of the steps that a debt relief company might take to help you manage your debt. This step can be uncomfortable because you are talking to strangers about a very personal issue- your personal debt and finances. There will be a consultation with the debt relief company. But it is essential that you allow your debt consultants to make a complete and accurate assessment of your situation. You may be able to do this by email, but a phone call is probably your best bet.

That way they can recommend the best possible course of action. This is important business, and you should know the people you are going to be working with. The more you can commit, the sooner you will be able to deal with your creditors. The debt relief company will help you determine a monthly dollar amount that you can commit to debt reduction. However, one of the purposes of a debt relief program is to free up cash flow. The debt relief company will then contact your creditors and will assume all communication with your creditors. So your amount committed will probably be less than you currently pay on your debts.

This is where this type of program diverges from the typical debt consolidation loan- based program. Rather, the company will manage the process of dealing with your creditors in an orderly fashion and make payoff arrangements. The debt relief program is not going to make you a loan to pay off all your debts. Your monthly debt relief payments accrue into an account for debt repayment. Typically, the company will attempt to settle your debts for 40- 60% of their balances. As funds accumulate, the debt relief company will begin using the funds to make negotiated payoffs to your creditors. The downside to this approach is that your credit rating may take a hit, as debts may be marked" settled for less than the full amount" .

The debt relief company will request that your creditors report your updated status to the credit rating bureaus. The debt relief program should keep you informed as debts are settled. The new status may be" settled in full" , "settled" , "paid" , or, as mentioned above, "settled for less than the full amount" . Once the program has concluded, you will be debt- free. It goes without saying that you should avoid accumulating new debt while on the debt relief program. At that point, you can assume more debt as long as you are ready to manage it and your debt repayment is well within your means.

You will have been granted a fresh start, so you would, free from debt be wise to approach future debt with much caution.

Such An Agency May Suggest Debt Consolidation Loans

Category: Finance, Credit.

Attracted by the fashionable life led by the peers, many members of the young generation develop the habit of buying on credit. Nor they can resist the urge of buying the things or availing the service.

Not all of them are born with a silver spoon in their mouth, and hence cannot afford to buy the things that they wish. Ultimately they depend on borrowed money and face debt problem in course of time. Some of them succeed in their effort while most others end up in worst debt crunch. With no or poor knowledge on debt management, they try to sort out the problem with the means that comes easily and quickly. To avoid being duped by fraud agencies, it is necessary to approach the genuine agencies that have realistic and effective financial solutions to offer. However, it may not easy to find out an agency that can offer feasible and realistic debt management programmes. Every country has proper and reliable debt help agencies.

A genuine debt help agency will try to offer some solution that makes it easy to deal with the debts. This type of loan is taken to consolidate multiple debts into one package so that debt management becomes easy and the concerned person makes his repayment easily. Such an agency may suggest debt consolidation loans. Some other agencies offer debt help solutions in a different way. After calculating the repayment ability of borrower, they negotiate with the lenders and try to set them ready for such terms and conditions that can be easily fulfilled by the borrower. They work as a media between the lenders and the borrowers. Some agencies have altogether different types of debt management programmes.

They may pay off the entire debts of the borrower from their own and then provide him with easy repayment terms.

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As Anyone Who S Spent Any Time At All Comparing Credit Cards Will Be Able To Attest, Things Are Nothing Like So Simple - Finance and Credit Articles:

The basic premise behind a credit card is simple: you use the plastic to pay for goods either in person or online, and then you either clear the debt within a month or you begin to be charged interest on it.

They Have Experts In Their Panel And They Would Know Much Better Than You Do On How To Handle Your Debt

Category: Finance, Credit.

There has been a new emerging threat to the financial sector of most developed countries. Coupled with that is the fact that personal savings have hit an all time low.

The introduction of plastic money and a tremendous acceptance of the same among both business organizations and consumers have given rise to a situation where consumer debt today has touched an all time high. Whenever you have bad credit the best thing to do is to act immediately. And after a point of time it can spiral out of your any control. The more you delay your action the more difficult will the situation get for you to keep under control. Then the threat of bankruptcy will loom large over you. The right time to act is when you fall back on a payment or two. So it is advisable to act fast and act quick.

If you don t act now, then chances are you will miss a few more similar payments and soon you will have too much of a debt to handle. To add to your woes will be the interest for the failed payments. You will already have few months of bills pending. Before you go to any credit counselor it is advisable that you do your own homework. Then make a separate spreadsheet where you write down all the sources of income you have. Take a piece of paper and write down on it everything you owe.

See what is the difference between what is coming in and what need s to go out. But if situation seems completely hopeless and you think you will have to declare yourself bankrupt then is the time when you must consult with a debt management or credit counseling service. If that difference is not that great then you can think of taking up a part time job for the period of repayment of the loan and handle the matter by yourself. They have experts in their panel and they would know much better than you do on how to handle your debt. The credit counselors try to find a middle path. They will help you chalk out a plan on how exactly you will need to plan your future to repay your debt and better manage your credit in the future. if required they will even negotiate with your creditors to get you more friendly interest rates or longer periods to eliminate your debt. They negotiate with your creditors so that the creditors relax the interest rates slightly so that it becomes easier for you to pay back.

But why would the credit counselor help you? The creditors opt for this because they get their capital back with some interest and they don t have to go to the court and drag the matter on. Of course he has his own benefits. This can vary from firm to firm but it should not be more than$ 20There are various clauses in the start up fees and you should read them properly before you select your counselor. First of all he will charge you a start up fee for the counseling process.

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Credit Repair Can Be Called A Way To Get Your Credit Report Better, Receive Decreased Interest Rates On Loans And Improve The General Credit Status - Janis Acevedo's Finance and Credit blog:

Credit repair can be called a way to get your credit report better, receive decreased interest rates on loans and improve the general credit status.

In A Nutshell, A Chargeback Is The Process Followed By A Credit Card Issuer That Reverses A Charge And Credits The Account Holder That Amount - Finance and Credit:

What is a chargeback and when does this happen?

Choose A Credit Card For Your Balance Transfer That Has A Low APR - Finance and Credit Articles:

A balance transfer credit card aids in consolidating credit card debt and sometimes can also be a way of steering clear of the burden of debt. You will also notice they all these credit card companies are all competing for your business so the incentives are becoming more and more appealing all the time especially when it comes to credit card balance transfer offers.

It Is Best To Shop Around When Looking For A New Card Suitable For Your Personal Needs

Category: Finance, Credit.

A low rate credit card is a great advantage to those people who would normally keep a balance on their credit card from month to month. The main point of using a credit card with a low rate is to save you money if you are to keep carrying over a balance month after month.

If you were to take out a new card with a 0% APR introductory period then the balance from your existing card can be transferred onto the new card. It is best to shop around when looking for a new card suitable for your personal needs. It can work out that the items you purchase on a higher APR card work out to be more expensive in the long run than the same items on a lower rate card. It takes time and effort to research and look around for the ideal card but it can save 1000s of dollars in the long term. That is because if you have a low rate credit card and you don t pay off the balance, you are not going to be paying back anywhere near as much as you would if you had a higher APR card and had to pay more interest on the items you purchased if you didn t pay off the balance in full. Especially if you currently have multiple credit cards and are paying out a lot in interest each month.

If you are considering balance transferring then a low rate credit card is a very good idea. Another name for these cards are low APR credit cards, so don t be confused that you are hearing about two different types of card, they are the same thing. Low rate credit cards are normally only available to those with excellent or above average credit so this can be a little, or should I say, very annoying to say the least, that the people that want these cards are the ones that can rarely get them. It can be quite frustrating as most of the time the kinds of people that are wishing to have a low rate credit card, are those that are in financial difficulty and want to save some of the money that they are paying out. Once you have researched and found a new low rate credit card, then you must make sure that you read the terms and conditions and abide by them. When a card is said to have a low interest rate it is normally that of between 10 percent and 20 percent.

If you are late with just one payment then the interest is likely to go up to as high as 30% and it could stay that high for up to 12 months. Some credit card companies have been known to offer an interest rate as low as seven percent, although this is not often and quite unlikely. Lower rate cards are normally only available to those that have perfect credit, even if your, but sometimes credit rating is not so perfect there are still some companies out there that are still able to offer you are low rate credit card.

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What Do Most Credit Card Holders Look For In Their Credit Cards - Finance and Credit Blog:

What do most credit card holders look for in their credit cards?

First And Foremost, Understand What A Balance Transfer Is - Finance and Credit Blog:

There has been a lot of talk recently about taking advantage of 0% balance transfer credit card offers. If you choose a balance transfer credit card, it can save you a lot.

Never Email Your Credit Card Details To Anyone - Allison Darrigo about Finance and Credit:

Many people enjoy the ease and convenience of paying for goods and services with a credit card.

In Order To Do That, They Came Up With Several Schemes To Make Their Credit Cards More Attractive Than Those Of Their Competitors

Category: Finance, Credit.

Debt consolidation is a term you ll hear often in the adverts for loans- especially home loans.

It s a logical leap- except for one thing. The idea is to take out a loan large enough to pay off your credit cards and other loans, then pay off the loan at a lower interest rate than you were paying on the credit cards. It works even better if you use the lowest interest rate loan available- 0% balance transfer credit cards. 0% balance transfer cards were the product of a competitive marketplace- the credit card marketplace. In order to do that, they came up with several schemes to make their credit cards more attractive than those of their competitors. After years of growth in the credit card market, the providers found themselves in the position of having to entice customers from each other in order to keep on growing their market share. Balance transfer credit cards are specifically designed to get you to shift your existing balance from one credit card company to another by offering you a better deal. The Benefits of Credit Card Consolidation with Balance Transfer Credit Cards.

And while 0% balance transfer credit cards are a bit more scarce than they were two years ago, they do still exist- and they ve been joined by other low interest balance transfer credit cards schemes. There are a number of benefits to taking advantage of a balance transfer scheme to get control of your credit card debt. If you ve been carrying half a dozen balances on higher interest credit cards, chances are your minimum monthly payment doesn t even nibble at your outstanding balance. Low( or no) interest slows down the mounting of your debt. That s because credit card interest rates are designed to KEEP you in debt, not get you out of it. One monthly payment makes it easier to make the payment on time. By moving all of your high interest balances onto one low interest card, you can attack it more directly and keep it from spiraling completely out of control.

Instead of remembering half a dozen different payment due dates, you only have ONE. Having one credit card and one monthly payment lets you concentrate your efforts and apply a larger chunk of money where it counts. No more worries about missing or late payments because one of your credit cards fell off the radar. Add up all the minimum monthly payments that you re making now. Chances are that the amount of money you re currently paying out to meet all of your minimum payments will be far above the minimum monthly payment on a balance transfer credit card- which means that with every payment you ll be hacking away at the outstanding balance and making your way toward being debt- free. Then compare balance transfer credit cards by minimum monthly payments to see how it stacks up to your current monthly payment. How to Compare Balance Transfer Credit Cards.

While 0% balance transfer cards still exist, the days of no- strings 0% cards are fading away. If you do the math and decide that a balance transfer credit card is the right decision for you, then take the time to compare balance transfer credit cards and find the best one for you. Most balance transfer credit cards have certain limitations and requirements for their use. Once you ve transferred all your balances to one card, be careful not to run your other cards up to limit again. You can check out balance transfer credit cards on offer at comparison sites to compare the various terms and find the balance transfer card that works best for you. Your best course is to keep one credit card active for use in emergency- or for your everyday purchases- and pay off that card in full every single month. That way you won t find yourself in the situation of paying down double the debt because you ve run it up all over again.

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Some Companies Might Offer A Fixed Or Variable APR - Finance and Credit Blog:

Millions of people are making use of their credit cards to purchase just about anything. Paying high interest rates means a lot of money wasted.

Of Course, Counseling At The Consumer Credit Counseling Service Is Confidential And At No Cost - Finance and Credit Blog:

Unlike bankruptcy or debt settlement, you ll still be liable for paying the entire balance owed over a number of years, if you can, but as stated realistically commit to a long term payment arrangement, and you don t mind waiting a few extra years to become debt- free, consumer credit counseling may be right for you. Typically, credit counseling involves working with the counselors to work out a financial strategy to manage the debts.

Principally A Credit Score Is An Assessment Of An Individual S Eligibility For Credit - Finance and Credit Articles:

Credit is something almost everyone of use will take advantage of at some point in our lives. There are however a great many people that have never had credit and for some this is out of choice and for others it simply a case of never having been old enough to get it!

The ONLY Way To Repair Credit Is To Do It Yourself

Category: Finance, Credit.

There are few topics as polarizing as credit repair. Rarely do you find someone with a perspective on credit repair that is not at the far end of one of these extremes.

Depending on who you talk to, credit repair is usually thought of as impossible, something you can, illegal only do yourself, or something you need professional help to perform. The fascinating thing is that in most cases, whatever people believe to be true will be true for them. Answers forum who states that" there is NO SUCH thing as Credit Repair. it s a scam. " will never realize any benefits from repairing their own credit. The poster on the Yahoo! By believing that credit repair is impossible, they are fulfilling their own prophecy by ignoring their rights to dispute their own credit. This person, and every other person who ignores the possibility of credit repair, will fall into the category of people whose credit scores will only improve through the passage of time. By not believing it can be done, they are proving their own point.

The same is true of people who believe that credit repair companies do not work. Answers stated that. "There is no such thing as repairing your credit through someone else. Another poster on Yahoo! If they can, they are doing this via an illegal way and be extremely careful, as it can end YOU up in jail and fined. Pay your bills on time. The ONLY way to repair credit is to do it yourself.

O) " Along with being misinformed about how the credit repair process works, this person is letting their flawed knowledge keep them from so much as investigating the possibility that a credit repair company may be able to help them out. It is truly astounding how many people out there believe that credit repair cannot work and credit repair companies are nothing but scams. Once again, in believing that it is impossible for a credit repair company to provide any value, this person has assured that they will never receive any value from a credit repair organization. It is also unfortunate that it is these voices that seem to be the loudest because not only are they making credit repair an impossibility for themselves, but they are convincing so many other people to not even attempt to repair their own credit. These are the people who have allowed for the possibility that their credit could be repaired and realized the truth about their credit reports. What is equally astounding is how these people can be so passionate about outing credit repair as a pipe dream and a scam when there are so many other people out there who are living proof that credit repair does in fact work.

It is hard to believe that anyone could completely dismiss the idea of credit repair when there are stories like this: "I signed up for[ credit repair firm] a couple of years ago. After a few rounds of this, negative credit items start to fall off your report. They basically write a couple of letters a month on your behalf to either businesses or credit reporting companies asking for verification of debt, that kind of thing, or if you instruct them, actually challenging the debt. You can totally do this yourself, but it s been worth the cost to me( something like$ 40/ month) since I am too lazy to regularly write this kind of letter. Some people seem to think this is some kind of scam( like, paralegals write the letters on your behalf instead of attorneys, and some people don t seem to understand that when you give an attorney" power of attorney, " they can write letters as you) , but I think it s a fair price for something I was too lazy to do myself. I also like how when the credit bureaus do bother to write back, they re always pretty whiny and pissy about it.

Ultimately, they pretty much got rid of all the negative items on my report except for the ones that were at least semi- legitimate. (I m not going to pay a parking ticket I got five years ago in a state I m not going back to. ) The ones they did get rid of were things like AOL continuing to charge a credit card after a) I had cancelled the AOL account, and b) I had cancelled the credit card! It s annoying that I m responsible for fixing something that this bogus industry screws up in the first place, but other than that, I m a happy" credit repair" customer. " People who believe that credit repair is impossible will never see any benefit from it. It just wasn t worth my time to chase this down with AOL or the credit card company. People who believe that credit repair can only be done by themselves will only see the benefits of their personal efforts. Ultimately, when it comes to credit repair, we all create our own truths. People who believe that credit repair companies do not work will never invite the opportunity to have a credit repair company work for them.

All anybody can ask of you is to perform your own research instead of letting others choose your truths for you.

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A Wealth Of Information Is Contained In Your Credit Report - Finance and Credit Articles:

A wealth of information is contained in your credit report.

What Are The Most Common Credit Repair Scams - Finance and Credit Articles:

Some credit repair companies make unbelievable offers to eliminate negative items from your credit report.

Filing Bankruptcy Can Be Overwhelming - Finance and Credit Articles:

Filing bankruptcy can be overwhelming. Is there help available?

Credit Card Processing Is Flexible

Category: Finance, Credit.

Does your company need credit card processing?

When customers know that you accept credit payments, they often are more likely to pay more, and tell their, return often friends if the service is good. It does if you can benefit from the following: Credit Card Processing Enhances Your Professional Status. This is because a company that makes credit payment options available to clients is telling the world that they care about customers and they are professional enough to invest in systems that will enhance the shopping experience for guests. Writing a check may put you over the balance, and you don t want to take time to run to the ATM machine to withdraw the money from savings. No one likes that disappointed feeling when, you find something, after browsing you want to buy but then fail to find enough cash in your wallet to purchase it. When customers can pay with a plastic card, they may show their appreciation by returning again and again to shop your store. It depends on your current business budget, but you don, of course t have to sink a lot of money into credit card processing equipment.

Credit Card Processing is Inexpensive. All you need do is get a merchant account services account, buy or lease a credit card processing unit, and you are good to go. Plan on paying a per- transaction fee of perhaps 25 cents or a low interest monthly rate that may include minimums. Plug it in or take a wireless unit with you on the road to make credit payments easy, and secure, fast. Associated expenses may include discount fees, print statement fees, gateway fees, and membership costs. Overall, the benefits of, however a merchant account outweigh its costs. There may be others as well.

Credit Card Processing is Flexible. You can take a wireless unit from one destination to another to let clients pay at the point of purchase rather than wait for billing. You don t have to be stuck behind the cash register all day to appreciate the advantages of a merchant account s ability to provide credit card processing. You may want to invest in a pager that will let you provide instant deliveries or prompt responses to customer inquiries, some of which could lead to direct or indirect sales with the option of credit card payments. It s all up to you, as to what, of course you re ready to do in terms of growing your company s sales. You can also set up an online Website to accept credit card payments from potentially billions of customers around the world. You won t need extra staff to manage credit card processing, either.

But you will need to have a staff member available at certain times for questions or troubleshooting issues. In fact, you may be able to operate some credit card processing systems automatically when you opt for the telephone payment system or the Website option. Don t get left behind by competitors who already have merchant account services and customers who expect them. Start browsing now to learn more about Credit Card Processing.

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Then It S Down To Business - Colette Amin about Finance and Credit:

Like a finely- tuned engine, a successful and profitable business needs steady cashflow for smooth running.

Secured Credit Cards Work Closely With The Bank - Sandy Ganz about Finance and Credit:

There are millions of people suffering from bad or damaged credit. Try to rent something?

Debts Become Marks On Our Credit Report - Carissa Mcbee about Finance and Credit:

You hear quite a bit these days about credit repair.

As A Customer, Bear In Mind That Not All Credit Card Issuers Are Genuinely Seeking The Card Holder S Benefit

Category: Finance, Credit.

Tough competition in the market among different credit card issuers force these companies to come up with their own strategies in attracting more customers to sign up for them credit card.

As a customer, bear in mind that not all credit card issuers are genuinely seeking the card holder s benefit. The emergence of rewards credit card in a variety of categories and features can be a bit confusing for potential card holders. Although, some rewards credit card can really work to your advantage, some credit card companies seek their own advantage and only use reward programs as a means to cover up unreasonable terms and mainly to entice their card holder to spend more on their credit card. Stay away from reward credit cards that have an expensive annual fee. Let s discuss some of the things that should be avoided when searching for the right rewards credit card: High Annual Fee Rewards Credit Cards. Think about it. If you need to pay an annual fee of$ 50 every year just to get your$ 50 reward, do you think it s worth it?

If you re going to get 1% for every dollar spent on your purchases, then you ll only get a$ 50 reward for a$ 5, 000 purchase. Always calculate the exact possible amount of rewards you can earn and compare it with the payment you would need to pay each year to renew you credit card membership. Don t easily get attracted to the key features that a particular reward credit card advertisers. There are rewards credit card that comes without an annual fee and offers the same point systems. Instead, read the full terms and conditions to get better view of the exact incentives you can get. Watch out for reward credit cards with a high APR and at the same has a variable rate of interest. High Interest Rewards Credit Cards.

Always remember, that you ll be charge with interest each time you fail to pay off your monthly credit card balance on time. Furthermore, variable interest rates rely on the Prime Rate. If this is the case, you might end up paying for very expensive credit card bills which does not even come close to the little amount of rewards you earn. Thus, when the Prime Rate increases, your APR can also dramatically change from a reasonable rate to a very expensive one. Rewards Credit Cards with Blackout Dates. Take note that variable APR also comes with a minimum cap which means even if the Prime Rate falls, your APR will not go below the appointed minimum cap. Some reward credit cards impose a blackout date on collecting points as well as redeeming points.

Also, be careful about the terms on redeeming the points you ve earned. If this is the case, you can end up wasting all the points you ve already earned just because you did not gather the minimum points that will qualify you for a reward. For instance, some credit card forfeit reward points if the card holder has an outstanding balance on his account. If you don t understand the terms very clearly, you can lose your rewards without even realizing it.

In About 30 Seconds, You Ll Have An Answer To Your Credit Card Application In Most Cases

Category: Finance, Credit.

As a business owner, literally your time means money.

Even if you re established in your business, you re knee- deep in operations that keep your company running and on its way to profitable growth and market goals. Getting your business up and running takes every minute of the workday. You definitely don t have time to waste running around to several banks to compare business credit card terms. Instead, do what many business executives are doing- go online to get credit card information. The business world just doesn t get put on pause while you work on financial matters that can help your company. While sipping your steaming latte, your mouse does the work- moving you rapidly among the best deals for credit cards.

After all, bankers hours are for bankers- you are a busy entrepreneur and you don t have time to squander. All of the information you need is available 24/ If you don t want to take time away from work to shop for credit cards, look online from home early morning or after dinner. Another great advantage to searching for credit card information online is that it s easy to compare the terms and conditions of several cards at once. It just makes good business sense to have all of the options before you when you make a choice for your company credit card. You could spend a week running around town to get a fraction of the information you ll get with a single online search. Once you find a deal that you like, you can complete the entire application process online in a matter of minutes. In about 30 seconds, you ll have an answer to your credit card application in most cases.

Once you hit the" submit" button, have another sip of latte. You might even find a card that allows you to make a limited initial purchase online while you wait for the actual card to arrive in the mail. If you need additional business credit cards for your staff, you can quickly request them online as well. Unless something unpleasant turns up in your full credit report, something you can also check online these days, you ll receive your business credit card and be ready to charge travel, client entertainment or office supplies. Establishing good credit for your business is as valuable to your company as it is for personal credit. That s more complicated to sort out at the year s end and more likely to be questioned in a tax audit. Beware and don t make the mistake that some small business owners make and use personal credit cards for business expenses.

Just use the KISS principle. If you like the credit card company and its terms, then use the same company for both cards. Keep it simple and separate- a business credit card for business expenses and a personal credit card for personal expenses. As you can see you don t need to spend precious prime time out of your day to shop around banks for the credit card that better suit your business needs. Now you can go online and search, compare and apply for the best deals by going online.

So Are All Credit Cards Good

Category: Finance, Credit.

All credit cards offer many benefits and features.

To convey my point I will leave the disadvantages for others to write about. Some come with a few disadvantages. All credit cards are good in their own way for their own purpose and for that specific applicant. There are the so called" bad credit cards" and the" good credit cards. " Bad credit cards fit consumers looking to build" good credit. " Good credit cards fit consumers with good credit looking to take advantage of benefits that suit their daily lives. There are many credit cards for applicants with good credit, bad credit or with no credit at all. So are all credit cards good?

Consumers with good credit attract the credit cards that would better suit their income, spending habits and, credit history paying habits. Yes, because in some cases you have to start somewhere and sometimes, it comes at a price. Many credit cards that approach consumers with good credit tend to offer great transfer rates and lower interest rates on future purchases as long as the consumer's credit doesn' t change in the wrong direction. So the only challenging factor for someone with good credit is to maintain the good credit status and keep a close eye on your credit limit to credit debt ratio. Everyone has their individual needs and perceptions of their credit. In my opinion, your ratio should be at around 25% to 40% because it is a responsible level to be proactive in managing your credit cards.

Investing in a credit monitoring service also helps to keep a third eye on your credit so you can focus on your busy life. A 25% credit limit to credit debt ratio would be$ 2500 balance on a$ 1, 0000 credit limit. Consumers with bad credit attract the credit cards that seem to be outrageous because of interest rate, credit line or terms of the agreement such as annual fees and processing fees. Instead of them being called bad credit cards they should be called credit building cards. In my opinion, their is no such thing as a bad credit card as long as they report the account to Experian, Transunion and Equifax( CSC Credit Service) . If you cannot get over yourself by accepting a credit building card, maybe a secured credit card from your bank would be the best choice as long as they report to the credit bureau.

If you get a so called bad credit card then make sure you fulfill your end of the agreement, and don' t make excuses for not paying on time or letting it charge off because it was only$ 300I think one factor that makes that type of card good is that the credit lines are usually no more than$ 500That low of a credit line is a good thing because worst case scenario your minimum payment is between$ 100- $20Not bad for establishing a credit line that will be worth dividends in the long run. Never think bad credit is forever or that it can' t ever improve, it can with responsible steps. Yes, it will benefit you as time is established behind the credit card. So are bad credit cards good, of course they are. Credit building cards are only short term because once you have began to establish yourself with 2- 3 credit building cards your score will reflect the responsible habits and your score will begin to rise. Whether you have good or bad credit cards the responsibility is the same. These two simple steps, will keep your, if followed consistently credit cards as the good benchmark for your credit score to be based from.

Make your payments on time and watch your credit limit to credit debt ratio. I have only referenced your credit cards that allow minimum payments and not any other types of credit cards or other credit lines on your credit report. All cards have benefits and features that are advantageous to consumers or contain hidden value, even if the card does not seem very desirable. I have also not referenced the impact of derogatory items on your credit report that would affect the establishing of your credit. When you decide to get any credit card base it on your own financial need and on the advantages that will benefit you and your credit profile. Credit is life and life is credit, understand it wisely.

MasterCard Can Do For Consumers

Category: Finance, Credit.

Have you heard about all that the Citi Driver's Edge Platinum.

This article will describe the benefits, drawbacks and various special considerations relating to the Citi Driver's Edge Platinum MasterCard. MasterCard can do for consumers? Overall it is an excellent rewards card for most people: It has a high rebate rate of 3% to 6% It rewards you for both purchases and for the miles you drive It rewards you for typical household purchases, rather than tempting you into making purchases that you wouldn' t otherwise make. For example, let's say you already spend$ 5, 000 this year at supermarkets: you' ll receive a 6% rebate for that, amounting to$ 30You' ll also earn$ 1 for every 100 miles you drive: if you typically drive 10, 000 miles per year, you' ll earn another$ 100 every year. Consumers who judge the card by its name might fall into the trap of assuming that this card is just for heavy drivers, but dig a little deeper and you' ll find it's exceptionally rewarding for almost anyone. The CFA carefully investigated this card and observed the following benefits: The rebate isn' t cash, but it can be spent on needed purchases so it's basically equivalent to receiving cash back. You can convert rebates into Citi's ThankYou Points, which you can use to get gift cards at over fifty popular retailers.

You can spend it on any automotive services, repair or maintenance. You can also apply your rebate towards the purchase of nearly any motor vehicle- - new or used, from dealers or private parties. That means you are 100% free to negotiate the best deal on a car from any dealer or individual seller. You' ll receive the rebate in the form of a check after you purchase the vehicle, and whoever you purchased it from will never know you received a rebate. The method of computing interest is average daily balance of all your purchases. After you' re approved, you can ask to have your own picture placed on the front of your card. You' re avoiding the" double- cycle average daily balance" which some credit card companies use to hike your payments.

This will help make your card more secure. Automatic travel insurance of up to$ 1, 000, 000 is received whenever you buy a plane, train or bus, ship ticket with your card. Citi also offers 24- hour fraud protection and guarantees you' ll have zero liability for unauthorized charges. Auto rental insurance coverage is received to protect you from possible collision or theft when you pay for the rental with your card. There is no annual fee. A Retail Purchase Protection feature protects your card purchases from theft or eligible damage for up to 90 days.

You can apply for a Driver's Edge card at Citi's credit card site. After the first year your rebate returns to the normal 3% rate, so at that time you may want to add the Discover Gas Card to your wallet, in order to get their 5% cash rebate on gas purchases.

And That, Is Money, My Friend

Everybody, over the ages has had an opinion on money. "Money makes the world go round. " "Money talks. " "It's all about the money. " Money has an important role to play in our day- to- day lives.

And that, is money, my friend. Think about our three basic necessities of food, and shelter, clothing, and you know that there is a fourth basic necessity which is more important than these three. We may abuse it. We may call it the curse of modern life. We may associate it with criminals and conflicts. But, whatever we may say, the fact is that living without money is an impossibility. It displaced the barter system in the ancient times.

Money has seen a lot of historical developments. Then currency came to the fore to provide for the many transactions that had to take place. The coins that we see today are not made of pure metal. We have changed a great deal from the days of metal currency in gold, bronze, silver, and copper. They are made of cheap alloys. Slowly, this paper currency is being subordinated to the power of plastic. The currency these days is made up of paper that costs far less than its face value.

Credit cards have made their own place in the global arena. The old days of being anxious about large stashes of cash in flimsy briefcases are gone. They are quickly gaining in the popularity charts and are quickly becoming the new face of money. With the virtual world taking over our twenty- first century reality, even money is becoming a virtual entity. Just the knowledge that that rectangular piece of plastic is comfortably seated in our wallets is assurance enough. We no longer feel the need to have tangible forms of money. Earlier on, people were not to keen to make use of credit cards because of the feeling of being indebted.

It is no wonder that credit cards are slowly taking the place of the paper currency that had been the standard till very recently. However, with the rise, these days of things like cash back credit cards and 0% balance transfers, people have acquired a new attitude towards credit cards. Thanks to the rising living standards, and with the rising demand for instant gratification, people have begun to flock to credit card companies. Is paper currency becoming obsolete? It is quickly becoming the rule to possess multiple credit cards while most of our cash remains in the banks. Perhaps.

And it is not yet possible to pay for these transactions by using paper money. After all, online transactions are becoming increasingly popular today. Credit cards are slowly gaining in stature.