Credit Cards Amp Amazing Innovations

Writen by G Smith

The competition among credit card issuing companies is getting stiffer and stiffer by the minute. Each company offers the consumer a choice of several different kinds of credit cards – all of which, they claim, have been "tailor-fit" for their individual lifestyles. In addition to these cards, they entice customers to sign up by providing lower interest fees for balance transfers, and no interest payments for installment purchases (terms and conditions apply).

Not content with these benefits, credit card companies are trying to out-do each other in terms of visual appeal. In the past, credit card companies allowed you to have your favorite photo (be it of yourself, a landscape, your family or even your pet) emblazoned on the front. Nowadays, credit card companies are no longer satisfied with this kind of marketing strategy and have begun thinking 'out of the box'. American Express is in the process of testing a "butterfly" card – a card that can be folded in half and kept in a silver case which is attached to its own key ring. The same card company also has plans of introducing a hand-crafted titanium card which weighs almost 40 ounces heavier than the standard credit card. They are, sources claim, not going to charge extra for this special card, but it will only be available to members who fall under a certain category.

Other interesting innovations include the fiery red "Battlestar Galactica" card by JP Morgan, which has an embossed "Galactica Fleet Member" tagline. This card is aimed at attracting followers of this science fiction series. Another innovation is the scratch-and-sniff card of Versatile Card Technology. Similar to the scratch-and-sniff pages found in magazine, this kind of card is presently being marketed with a retailer who aims to release a perfume-scented card. With all these fantastic innovations being released in the market, capturing a new market should be a breeze because through these, owning a credit card would be a totally new experience.

This article is brought to you by CardRatings.net. Compare and Review 100's of Top Credit Card Ratings. After comparing credit card offers, Card Ratings allows you to apply for the credit card of your choice by clicking the Apply Online button. Find up to date information on Student Credit Cards, and more.

Citi Simplicity No Late Fee Amp Great Rewards But Still A Credit Card After All

Writen by Jeff Weber

There has been great interest in the Citi Simplicity Rewards Card with no late fees. People can't believe it. No late fees? That's right. No late fees. Russ Nauta, CEO of online credit information portal Credit Card Outlet, explains how late fees are avoided with this new card. "The whole process is pretty simple. All you have to do to avoid late fees is use your card once during each billing cycle. This card is completely innovative as you don't get penalized for potential problems you could face that are out of your control. For example, postal delays during storms and processing delays."

In addition to no late fees, the Citi Simplicity Rewards Card offers a rewards program and membership into the ThankYou Network. This is how the rewards program works. Consumers earn 5 ThankYou points for every dollar spent at gas stations and drugstores for 12 months. After the first year, they receive one point for every dollar spent. They also receive 1 point for every dollar spent everywhere else. Consumers also receive 10,000 bonus points after they make their first purchase within three months of receiving their new card. These points are redeemable for a $100 gift card to one of their favorite stores or restaurants.

Despite the many appealing, consumer friendly elements of these Citibank credit cards, one important element not to overlook is the potential default rate. Missing a payment or two by a couple of days will probably leave your account in good standing. However, if you do not pay your bill for 30 or more days, you may end up getting charged with a 25% or higher interest rate.

So much for the simplicity life? Well, not exactly. If you pay your Citi Simplicity card as you would any other credit card, you get all the convenience and value the Simplicity card offers: a 0% interest rate, and, of course, no late fees. However, you cannot treat you monthly bill lightly. Yes, you can pay late. But pushing the envelope could stick you with a very high interest rate.

Copyright 2006 Jeff Weber. Free online reprints of this article are allowed provided the resource box remains intact with a live link back to http://www.credit-card-depot.com. Citi Simplicity credit card applications can be found at http://www.Credit-Card-Depot.com.

Small Business Credit Card The Good The Bad And The Ugly

Writen by Robert Alan

A small business credit card can help your company in many ways but of course, there is a downside if you do not know what to expect from your credit card company. Many people jump right in and apply for small business credit cards, get approved and start charging before they even read over the terms and conditions, that can be a very big mistake. However, a small business credit card can also benefit your company in several ways with great rewards and introductory offers.

Small business credit cards can be very efficient, providing you with consolidated yearly statements of your company's expense charges and aids in preventing employees from overspending. With a small business credit card, you will be able to use one single payment method and monitor your monthly billing statements. This will give you a list of all the expenses and you will be able to learn just what your company really needs to spend on a monthly basis and how to budget more wisely. You will be able to give your employees their own small business credit card for your company with a pre-set limit. This will ensure that they do not spend more than you have allotted for their department, but giving them a sense of trust for purchasing items that are needed.

On the downside, a small business credit card is still a credit card, and any overspending or unnecessary charges on your part or your employees can damage your credit rating. With a credit card, no matter what kind it may be there is a tendency to overspend unless you have a pre-set limit and pay off your balance on a monthly basis. If you carry a balance, then you will of course be paying interest on the balance. If you did not apply for a small business credit card with a low interest rate, you may find yourself going in debt more than you had planned.

If you do not make your payments on time, this will be reported to the credit bureaus. Usually this does not affect your personal credit rating but it can do some damage to your company's credit and then you may find that some companies may not wish to do business with your company.

No matter what you decide regarding a small business credit card, be sure that you find the proper credit card that suits your company with a pre-set limit for spending for your employees. If you are on an introductory offer be sure you know when it will change and what happens afterwards. If you have a 0% interest rate and it will change in 6 months, be sure you know what the new interest rate will be. This can save your company quite a bit of money and yourself many headaches.

For more on using a small business credit card to take control of your business, Robert Alan recommends that you visit CreditCardAssist.com.

Facts About The Apr Of Credit Cards

Writen by Michael Colucci

When it comes to credit cards, the APR or annual percentage rates is always the ultimate source of confusion and chaos for most credit card users. If you don't have a credit card but planning on applying for one or you were just recently approved for a credit card then you must definitely read this article. Everything about APR of credit cards shall be explained so read carefully and remember!

What's APR? Basically, the APR or annual percentage rate of a credit card is the combination of low interest rates and finance charges. With that said, let's move on to the next topic. Are There Really Zero Percent (0%) APR Intro Rates And What Does It Mean? – Let's say you already own a credit card and you've used up most of your credit already. With a 0% APR intro rate credit card, you can transfer your balance without incurring additional interest.

Nice, isn't it? Also, if you're planning to purchase something but paying it off before the intro period is over then yes, having a 0% APR intro rate credit card is the best option for you. Remember, the keyword here is intro – which indicates that this is only something like an introductory offer so don't expect the 0% APR to last forever.

What About Low Interest APR Credit Cards? – If you're in search for a credit card with long-time charges then it's better to go for a low interest APR credit card rather than one with a 0% APR credit card because the interest rate would just revert to normal for the latter.

Which One Is Better: A Low Interest APR Credit Card Or A 0% APR Credit Card? – Well, this question would require you to research a bit but since your decision will ultimately affect your finances then it's better to go ahead and research, right?

The first question you have to ask your credit card company is about the length or duration of the intro period if you're interested in availing yourself of a 0% APR intro rate credit card. The intro period usually lasts between three to fifteen months. Anything less is naturally a disadvantage and anything more is preferable.

Ask also about what the APR of the credit card is going to be after the intro period. If the interest rate is higher than the APR of other credit cards that do not offer 0% APR for a certain period of time AND you're not planning to maximize the 0% APR you're given then maybe, it's better to simply go with a low interest credit card.

Michael Colucci is a technical writer for Low Interest Credit Cards and Credit Card Facts

Cash Back Credit Cards Gas Rebate Cards Can Save You Money At The Pump

Writen by Jeff Weber

Many people are only familiar with the gas credit cards offered at the gas station. These credit cards are tied to one specific gas station and often charge very high interest rates. However, individuals looking to save money on gas this summer should look no further than the wide range of low interest gas cash back credit cards currently available online. These credit cards offer the flexibility of choosing which gas station to use, as well as anywhere from 3% to 10% cash back on all gas station purchases.

Currently, the Chase Perfectcard leads the pack for gas cash back credit cards by offering a full 6% rebate on all purchases made during the first 90 days you have your card, followed by 3% thereafter and 1% cash back on all other purchases. With a gas price of $3.00 per gallon, this card would save you $0.18 per gallon. Over the course of three months, this 6% rebate can add up to substantial savings.

The Citi Dividend Platinum Select is a high cash back yielding credit card that offers a full 5% cashback on not only gas, but grocery and drug store purchases as well. Not only does the 5% reward rate have no expiration, the added savings of cash back on everyday purchases makes this cash back credit card an excellent option for consumers looking to cut down on expenses.

Now, aside from these cards, there are gas station specific cash back credit cards that offer even more savings. The Hess Visa from Chase offers a full 10% cash back on gas for the first 90 days of cardmembership, followed by a 5% refund on gas purchases thereafter. With this card's attractive initial 10% cash back rate, consumers can save $0.30 or more per gallon on gas.

Overall, consumers may find that a cash back credit card such as the Citi Dividend Platinum Select may provide them the best overall value, as it allows them to save 5% on not only gas, but groceries as well. However, for individuals looking to save the most on gas in the short term, the Hess Visa from Chase offers very appealing savings. Lastly, those who want the flexibility of choosing which gas station they use may find the best value with the Chase Perfectcard.

The author is President of Credit Card Depot Inc, http://www.credit-card-depot.com, an online credit card information portal that has been helping consumers understand credit card offers for over two years. For online applications and more information on cash back credit cards and gas rewards credit cards, visit http://www.credit-card-depot.com

Helpful Tips For Erasing Your Bad Credit

Writen by Talbert Williams

Bad credit can have a harmful effect on a number of things. If you have a bad credit, then you may not be able to get a loan or a credit card on the terms that are favorable to you. Moreover, it can even prevent you from getting some jobs. Thus, it is very important to erase bad credit.

To erase bad credit, the most important thing that you need to do is to repay your old debts. By repaying these debts, no more negative reports would be filed in your credit history. Another thing to do in order to erase bad credit is to add some positive reports to your credit history.

There are a number of ways of doing this, which include opening a new savings account, applying for a credit card and keeping the balance low, or refinancing with a home equity loan in order to repay all the old debts. These are the first steps that you need to take so as to erase bad credit.

A number of other things should also be taken care of to erase bad credit. You must try to avoid bankruptcies, tax liens, and collections. Also try to reduce the number of credit cards you carry.

Moreover, you can ask a friend or a relative to co-sign on a small loans or a credit card to help you re-establishing credit. Also, to erase bad credit, you must make all your payments on time, and should regularly get a copy of your credit report to check for errors.

Though it is possible to erase bad credit, it takes time, and sometimes as long as 5 to 7 years. Though your credit score may rise slightly, it will take time to nullify the damage done over the years.

Talbert Williams 2000-2006 All Rights Reserved

About The Author
Talbert Williams offers mortgage loans, mortgage refinancing, debt reduction, credit card debt referrals and advice. For more information, articles, news, tools and valuable resources on debt solutions, visit this site: http://www.free-mortgage-refinance-quote.com.

Not All Gas Credit Cards Are The Same

Writen by Jacie Caballero

If you are feeling a bit strapped for cash at the pump these days, applying for a gas card that offers a rebate probably sounds very appealing. I mean, how do you say no to earning free gas? Well, before you click submit on that application make sure you have considered your options.

First of all, consider the obvious. You want to find a card that offers no annual fee. Otherwise, any rebates you earn will be eaten up with this fee that could be as high as $100 or more per year. The next thing to consider is the APR. Most cards will offer an introductory rate of 0% for 6 or 12 months. This is great, at first, but after the specified time frame, be sure you know what the new rate will be. If it is not acceptable, you may have to consider transferring your balance to a new card.

Many gas rebate cards have their limits. Examples of limited cards are cards from Chevron, Shell, Mobil, Exxon, etc. They may have some great rates or special offers but you will always be limited to purchasing from their stations.

One great perk of newer gas cards on the market is the flexibility to earn rebates and get great rates while having the option of purchasing gas anywhere you want. One of these cards that comes highly recommended is the Chase PerfectCard that allows you to earn rebates on all gas purchases, no matter where you choose to purchase it. If you are looking for a card that primarily rewards you with gas rebates, this is a great choice.

Another great option that offers freedom in purchasing is the Chase Cash Plus Rewards Visa which gives you FIVE times the rewards for every $1 you spend on gas or just about anything. With this card, you can earn points which can be redeemed for cash back checks or gift certificates. So, if you need a card to charge your gas purchases but earning free gas is not your main concern, this is a good option as it allows you to choose your rewards.

Some cards will offer you full rebates up to 10% on gas purchases when purchased in specific locations which may be very appealing, but be sure to read the fine print. Most of these offers will only be introductory and after 90 days or so, the rebate may drop to 5% or less. This can still be beneficial as 5% is pretty good. It is just important to know what you are getting into so there will be no surprises later.

Lastly, if you are looking for a card that truly rewards you with FREE GAS, then you would want to take a look at the Marathon Platinum MasterCard from Chase. This card gives you automatic rebates towards FREE Marathon Gas every time you use your card. You can buy anything, anywhere and you will be rewarded with FREE GAS. There are many gas cards available on the market today. Each of them have their benefits but always make sure that you read each offer completely to be certain that the card you choose will truly meet your needs.

To check out some great gas card offers and apply online, I highly recommend visiting =>http://www.CreditAppsOnline.com

Jacie Caballero is a published freelance writer who primarily focuses on topics that can benefit the average consumer. She manages two websites, one in which specializes in credit card offers. You can visit her site at: http://www.CreditAppsOnline.com

Do You Know What Credit Scores Mean

Writen by Mike Herman

Many people wonder what credit scores mean and why they are important.

In fact, your credit score is much more important than a simple number and has the power to impact all areas of your financial life.

Without a proper credit score, you may not be able to get a home loan, car loan, student loan, business loan, or personal loan.

The lack of loans can put you in a sticky situation and may be the culprit of your blocked dreams to own a home, start a business, or earn your degree.

Furthermore, just as your credit score has the power to affect all aspects of your financial life, your credit score is impacted by all aspects of your financial life. Everything from how many credit cards you have in your name to how often you pay your utility bills on time is reported on your credit score.

For this reason, anyone should learn exactly what credit scores mean and their potential impact on any financial situation.

The first step in determining what credit scores mean is to take a long look at your own credit score. This is a number that is assigned to each and every individual by a financial institution.

Since anyone applying for a loan is considered to be a liability to the creditor, the credit score tells the financial institution the degree of liability. Individuals with good credit are capable of receiving loans and opening credit cards without trouble.

These individuals have proved themselves responsible by paying their bills on time and using their credit responsibly.

Although the exact formula that is used to calculate the credit score is kept a secret, there are certain known factors that are taken into account in order to determine the specific number.

These factors include the number of credit cards that you have in your name, the balance of those credit cards, the number of late fees that you have accrued on all accounts from utilities to loans to credit cards, and even the number of times that you request your credit report.

The range of a credit score is between 300 and 850, with 850 being the highest possible score and the best possible credit.

Individuals with good credit typically have scores that fall between 660 and 850. The median credit score for the United States is around 725.

If you find yourself to have a low credit score, know that there are options available to begin the process of repairing your credit. The best way to restore your credit is to pay off all outstanding bills on time.

If your debt proves to be outstanding, you may want to look into the services of a debt consolidation service.

These services work to combine all of your debts into one loan on which you can pay regularly until the entire debt is relieved.

Many individuals find that a debt consolidator is beneficial since the interest rates and fees may be lower than paying off individual credit cards or loans.

Get the online credit score details or an online credit report that you need by clicking over to Mike Herman's site http://www.How-Is-Your-Credit.info

What Your Credit Says About You

Writen by Martin Lukac

Did you know that your credit report is telling all of your dirty secrets? And not just to lenders, but many others as well.

Having bad credit doesn't just mean that you won't be approved for a mortgage, auto loan or personal financing. It means a lot more.

Many companies look at your credit report to decide whether or not to do business with you. They even decide how they will do business with you based on your credit history. You may not have known that many non-lenders have been looking at your credit information for years. Your insurance rates have probably been set based on your credit history. When applying for a job, the employer may have looked at your credit to assess your character.

Did you know that your auto insurance premiums may be based on your credit history. According to a 2001 study, 92% of the top 100 automobile insurance companies report using credit information to underwrite new business. Fifty-two percent of these insurance companies use the information to determine what rates you will pay.

There is reportedly a link between bad credit and auto-insurance claims. Some companies will even give the information from your credit report more weight than your driving record. The correlation isn't proven anywhere, but it does appear that those who manage their personal finances successfully are conscientious about their driving and car maintenance. They understand the value of their vehicle.

Not all states allow this to happen. California, for example, does not allow insurance companies to use its residents' credit histories. Many states are starting to take notice of the practice, but many still allow it to go on.

Farmers Insurance vice president of auto-product management Greg Ciezadlo was quoted as saying that bad credit can cost a customer up to 40% more in premiums. Allstate is also reported as using your credit history to make approval determinations.

Your poor credit could even cost you that dream job. As many as 42% of employers in 1998 performed credit checks on employees prior to hiring them. The information is often used simply for verification purposes. But negative information can prove hard for potential employers to ignore. They assume that applicants with poor credit histories aren't capable of management, and may even steal from the company.

The Fair Credit Reporting Act has limited the use of credit checks by employers. The employer must notify the applicant that the credit report will be looked at. They must also tell you if you aren't being hired based on information on your credit report. Fewer employers are doing checks every year.

Have you checked your credit report? You may think that because you pay all of your bills on time that you don't have to. But almost 80% of reports contain errors. Check your report at least on an annual basis. There are people looking at it, and it is telling them not only your financial standing, but your character as well. Make sure that your credit report is saying the right things about you.

Martin Lukac, represents http://www.RateEmpire.com, a finance web-company specializing in real estate/mortgage market. We specialize in daily updates, rate predictions, mortgage rates and more. Find low home loan mortgage interest rates from hundreds of mortgage companies! Visit http://www.RateEmpire.com today.

Credit Application

Writen by Olivia Andrews

Today's life is quite expensive and many times we don't have that much of cash with us to purchase the necessary things for our requirements. Even people are not able to purchase a house or a car with cash payment when they really need it. And that's the reason why we all need credit. There are many other ways through which you can finance a purchase without having sufficient cash. So you can apply for a credit card and check for what type of credit you qualify for.

Getting credit for a big purchase works in the same way as the credit card does. With this credit you can purchase anything without actually having the money for it because a bank or other lender shall believe that you have that much of financial capacity to pay off certain amount of bill. When you have a strong financial standing to deserve credit then you are allowed to make large purchases without the cash in hand. The first step is to find out whether you are eligible to receive credit for a purchase is the filling of an application form or you can also do it online.

As the name suggests, a credit application checks whether you qualify to receive credit for the thing you are applying for. Many times people don't know how to go for the process to qualify for credit and they don't even understand what it is actually a process for which you need to apply. But one should be aware that the process of receiving credit is not always as easy and it requires that you fill in a whole credit application and also report any previous credit if you have.

Lenders and banks should also be careful so that they don't lend to people who are insufficient to pay back and this is the main reason why a credit application is needed and there are seemingly strict requirements to receive credit as such.

For more information, visit our recommended website

Olivia Andrews, writer of credit-card-debt-consolidation-guide.info is a freelance journalist and has written many reviews on subjects such as finance, education, health, entertainment, music, gifts, crafts, travel, apparels and mobile phones.

Basics And Pitfalls Of Credit Card Ownership

Writen by Joseph Then

A credit card enables the consumer to borrow money from the issuer to purchase a particular product or avail some kind of services. It is used in place of cash as majority of people find it a convenient and safer mode of financial transactions. A pre-decided limit is allotted to the user who can avail a credit up to that amount and pay as per his or her comfort level combined with the amount of the interest charged by the issuer of the credit card.

The promoters of credit cards state that credit card assists you in times of need when you might need a particular product or service but are falling short of adequate cash, which is correct to a great extent. Different credit card companies offer different credit card schemes and credit limit as per the credit rating and financial stability of the customer.

Credit cards enable their issuers to earn financial gains in the form of interchange fees, interest rates and annual fees. In addition to this there are late payment charges, financial transactions made in terms of a foreign currency and exceeding the prescribed credit limit by the user. Some individuals though find it awkward to pay fixed annual fees even if they do not use their credit card the entire year.

It might be hard to avail an unsecured credit card where there is no requirement to pay an initial security deposit to the credit card issuer. However, companies opt for a safer mode of secured credit cards so that they don't end up in loss if the customer fails to pay back the credit amount on any pretext. It is argued by critics that credit cards open the doors for frauds by the use of stolen credit card.

Before selecting a credit card that can be beneficial for your daily transactions you need to make sure that the credit offers the following:

- A lower rate as compared to its competitors.

- Look out for hidden costs and the grace period limit offered.

- Opt for a credit card that matches your requirement criteria. For instance, if you are more involved in traveling go for a travel insurance credit card.

- Due to the increased competition in this industry, the credit card companies offer many benefits like rebates, discounts, car insurances, accident insurance and warranty coverages to their users.

Joseph Then provides advices about Personal Finance and dealing with bad credits. You can visit the website http://www.BadCreditBin.com for more information.

Choosing An Airline Credit Card

Writen by Willard Roberts

Choosing an airline credit card is easier than you might think. When sorting through all of the many options available, there are three main questions you need to ask yourself: What airline do I use the most often? How many times per year do I fly? And, are the fees associated with the card worth the benefits?

What Airline Do I Use the Most Often?

The first thing you should determine when selecting an airline credit card is what airline you frequent the most. If you have an airline that you prefer to ride on all trips, find out if they have their own airline credit card. Many airlines today have partnered with lending institutions to offer their own cards, so the chances are pretty good that the airline you frequent offers a special card.

If, on the other hand, you tend to fly on whichever airline is cheapest or most available for the time you want to travel, you might want to choose an airline credit card with more flexibility. Several of these cards work with a number of different airlines and this will be the best choice for you and your lifestyle.

How Many Times Per Year Do I Fly?

You should also analyze how often you fly before choosing an airline credit card. If you only fly once every few years are so, you most likely will not benefit from airline miles credit cards. This is because most of these cards work on a points system. After accumulating a pre-determined number of points, you are eligible for reduced or free air travel. With many cards, these points expire after a specific amount of time. Therefore, you might not be able to take advantage of the points you earn if you do not fly frequently.

If, on the other hand, you fly often during the year, you want to be sure to select airline credit cards that do not place a cap on the number of points you can earn. Many place restrictions on the number of points that can be earned each year. Or, they might have "black out dates" during which you cannot take advantage of your free or reduced travel privileges. Check into this information before applying for an airline credit card. If there are black out dates, make sure they are not dates that will adversely affect you. Similarly, if there are caps on how much travel you can earn, be sure the cap is acceptable to you.

Are the Fees Associated with Airline Credit Cards Worth the Benefits?

Generally, airline miles credit cards have annual fees. In addition, they tend to have higher interest rates than non-airline credit cards. Sit down and determine how much free or reduced travel you believe you can earn in a one year or two year period from your airline credit card. Then, determine how much you will pay in annual fees. If the annual fees are more than the free or reduced travel you will earn, it is not worth it for you to get an airline credit card.

You also need to determine if you will be able to pay the balance of the airline credit card in full at the end of each billing cycle. If not, you could be paying a great deal in finance charges. Once again, the cost of finance charges can be more than the rewards you earn with the card. In this case, it is not in your best interest to use an airline credit card.

If you will be able to pay your card in full at the end of each billing cycle and you will be able to take full advantage of the airline credit card rewards program, then it is a good idea to get one of these cards. If not, go for a credit card without a rewards program that has a low interest rate instead.

For more advice on choosing an airline credit card and free information, Willard Roberts recommends that you visit CreditCardAssist.com

8 Consequences Of Having A Poor Credit Score

Writen by Raj J. Shah

Most people don't realize exactly how important a good credit score is these days. Everyone needs a good credit score. It's critical. The credit score is the single largest component bank and other lending institutions look at when extending credit. The ability to borrow and use other people's money is absolutely essential. Less than 1% of the U.S. population could sustain the lifestyle they live without borrowing money. In other words a person's credit score is their lifeline. It's sad but true that banks make life-changing decisions based on a number. The following are 8 consequences of having a poor credit score

1) Health insurance costs more
2) Auto insurance costs more
3) Have to pay a higher deposit for an apartment
4) Must pay a mandatory deposit for cable
5) Must pay a mandatory deposit for electricity
6) Must pay a mandatory deposit for hot water
7) Must pay higher interest rates for financing a vehicle (If your credit score will allow you to finance such a large purchase)
8) Must pay higher interest rate to finance a home (If your credit score will allow you to finance such a large purchase)

So if a person has a lower credit score that means they are more inclined to be a high risk driver? Or they are more prone to being physically injured? Well, nobody said all the rules make logical sense. That's just the way the rules are and we all got to live by them. It's pretty weird how it works, but when a person has poor credit it actually costs a lot more to live.

ABOUT THE AUTHOR: Raj Shah is a recognized authority on helping people find legal and ethical ways to increase their credit score regardless of their current credit rating. His web site, http://www.FixMyCreditReportNow.com, provides a wealth of informative content on how to raise your credit score by a minimum of 125 points guaranteed.

Credit Self Help

Writen by Deanna Mascle

Are you facing problems with your credit? Do you know that you need to do some serious credit repair?

I hope you read this article before you sign up for an expensive program or spend money on expensive books or information packages.

First of all, it is important to give yourself a pat on the back for simply reading this article in the first place. The first step to finding a solution is admitting that you have a problem. A good many people simply get themselves deeper and deeper into trouble and debt because they do not want to admit they have a problem. Or worse, they know they have a problem but do not want to let those closest to them know that the problem is serious.

Second, you may take comfort in knowing that you are not alone. Credit problems are a growing epidemic across the globe today. Banks make it all too easy to obtain credit and to quickly accumulate debt and most people today are not really taught how to manage their money. Add to this a high-consumption society obsessed with various status symbols from clothing to cars and you have a sure-fire recipe for disaster.

Finally, and most important, you can repair your damaged credit and you can do it yourself for free.

The first and most important step is to collect all your information in one place. This includes how much you owe on each credit card and the details such as interest rate and minimum payment.

Now, call each of these credit card companies and close the account. Then cut up each card. This is important. First, you are eliminating your ability to rack up more debt and forcing yourself to face up to the reality of living within your means. But you are also taking the first step to handling your current situation. It is better on your credit report if you have closed the account while still in good standing.

Now comes the more difficult and challenging period. Handling the money you owe itself. For the first month do not make any credit card payments. Not even minimum balances. If you have money you planned for this purpose then set that money aside. Before you can begin addressing your debt you will also need to make arrangements for you daily life. You need to make a realistic budget that fits your income and then live within it. This is how you will avoid accumulating more debt in the future.

Once you have a good handle on your situation--you know your income, you know your budget, you know your debt--it is time to look at how you can solve the problem. You may find that you want to work with a law firm or agency, but my personal experience is that you are better off making that your last resort rather than your first. They can be very expensive and usually charge you based on a percentage of your debt -- so the more you can do to cut down that debt the more money you will save.

So what can you do yourself? A lot! Perhaps you can save one-third to one-half of your debt within a few months or acquire that amount through a home equity loan or some another financial maneuvering. Once you have some money on hand and you have let your credit card payments lapse for at least a month it is time to get to work. Call the company and tell them that you are in financial difficulties. Think up all your sad stories ahead of time so you have them handy and clear in your mind. Then tell the company that you are looking at various options including bankruptcy and working with a program but would really like to do this yourself (believe me, most companies would rather deal with you than a lawyer or professional negotiator). Then offer to pay one-third of what you owe. Some companies may work with you over the next months (while you are hopefully saving still more money) and eventually settle for an amount much less than what you originally owed. Others may offer a special program. There may also be a few companies that will not work with you in any way. If you run into those then you may want to call in professional help or just simply pay them off.

It will not be easy and it will likely be stressful, but in the end you can save yourself a whole lot of money and your credit will be looking good again. You can repair your credit yourself and give you and your family a bright future.

Deanna Mascle shares more advice in her blog Credit Self Help at http://answersaboutcredit.com where you can also download the free ebook "What To Do When Your Credit Goes Bad"

Ways To Repair Bad Credit

Writen by John Mussi

Bad credit can have a serious negative influence on a variety of things in your life…not only can it prevent you from getting the loan that you need or the credit card that you want, but it can also keep you from getting certain jobs or into certain programs.

If you've been plagued with bad credit in the past or wish to take action before your credit gets much worse, you're in luck; with a little bit of work and patience, it's easy enough to begin the process of repairing your bad credit so that you won't have to miss out on these opportunities in the future.

Understanding Bad Credit

One of the first steps to repairing bad credit is taking a moment to make sure that you understand exactly what credit is and what it means to have bad credit. In order to determine a person's credit, potential lenders or other interested parties must request a copy of that person's credit score.

This score is compiled by one of several credit reporting agencies, and is a numerical indicator of how much of a credit risk an individual might be.

Higher scores indicate that the individual has had several positive reports made to the agencies by past lenders, and is therefore considered to be a low risk individual in regards to defaulting on a loan.

Lower scores indicate that the individual has had several negative reports, showing that there is a much higher chance that the individual might default.

Removing Old Debts

Obviously, one of the key factors in improving your credit score is stopping old creditors from continuing to make negative reports to the credit reporting agencies. In order to do this, you need to get the creditors what they want… the money to repay the loan or credit line. By repaying these old debts, you can eliminate the source of many negative reports.

The damage that has already been done to your credit score will remain, but the debt will be reported as satisfactorily repaid and there will be no additional negative reports filed because of that particular debt.

This is important, because one of the first steps in making things better is to make sure that they don't continue to get worse.

Establishing Positive Reports

Once you've managed to repay some of your old debts so that they can't damage your credit report any longer, it's time to start adding positive reports to help even out your credit score.

There are several ways that you can do this, including opening a new savings or chequeing account, applying for a credit card that's designed for those with bad credit and keeping the balance low, or even refinancing with a home equity loan to pay off several old debts at once.

Regardless of the method that you choose, it's important to stay current with any new payments that you may have… after all, you don't want to start collecting negative reports again.

Expiration of Old Reports

The good news is that the negative reports that you've had in the past will go away… the bad news is that it can take 5 to 7 years before the reports expire and stop affecting your credit score.

This is where patience comes into play; though your credit score might begin to rise slightly after you've repaid old debts and established new credit lines, it will still take time to undo the damage that has been done over the years.

The older reports will expire in time, though, and the new positive reports will take their place.

You may freely reprint this article provided the following author's biography (including the live URL link) remains intact:

About The Author

John Mussi is the founder of Direct Online Loans who help homeowners find the best available loans via the http://www.directonlineloans.co.uk website.

Credit Scores Vs Fico Scores Are They The Same Thing

Writen by Nancy Woodward

No they are definitely not the same thing. They serve different purposes.

FICO scores were created by Fair Isaac Corporation. They are used by the mortgage industry to determine the creditworthiness of borrowers. The score is an indication of how well a mortgage or loan will be repaid by the borrower. High FICO scores are best. Low scores indicate future non-payments. FICO scores primarly provide a guide to future risk.

Credit scores, on the other hand, are reported by three national credit bureaus - Equifax, Experian and TransUnion. The credit bureaus issue reports based on their credit ratings. They are used by many lenders and companies to check up on individuals but are not used primarily for mortgage lending. Credit reports show your current borrowings, accounts, status, how you pay your bills, and whether you have opened or closed accounts recently. The report provides data, does not make an judgement on your ability to pay. Credit scores show your historical credit information and how you paid your bills.

It is very important you verify the information contained in this report. Inaccurate information can harm you for a long time. Since this information is collected by the credit bureau and sold to merchants who request information on you, you need to check it yourself once in a while. In the event you find an error, put it in writing to the credit agency and the lender.

Nancy Woodward is an Accountant and Real Estate Professional. Visit her online Real Estate Loan and Mortgage Loan

Building Your Credit History

Writen by Jeremy Zongker

Today, credit is an indispensable part of our lives. In order to get the things you need, such as a home or a car, you have to apply for a credit. But you cannot get a credit without having a credit history, and you cannot get a good quality credit without having a good credit history. So, it is important to start building your credit history when you're young.

When applying for a credit, if you don't have a credit history, it is possible your credit application to be denied. This means you definitely need to start building a credit history. There are different ways to start a credit history. If you're a student, you can get a student card from the companies that offer such special cards. On this credit card you can charge your necessities and at the same time build your own credit history.

When you're a young adult and you have always used checks or paid cash for your purchases you'll soon realize that you cannot apply for a credit as you don't have a credit history. A secured credit card can really help you. These secured credit cards are considered a first step for those with no credit history. For obtaining a secured credit card a deposit is required and the spending limit is equal to the amount of the deposit. To make sure you're building a good credit history with this first credit card, be careful not to go over the limit and pay your bills on time. After some time, depending on each company, you can apply for an unsecured credit card but only if you have a good credit history.

There are also other more simple ways of starting a credit history. One easy solution is to open a savings or checking account that will definitely show how you are able to manage your money. Or if you have a cellular phone or a pager and pay your bills on time every month, you can demonstrate that you're capable to control your money wisely. Another way is to consider applying for a card offered by gasoline companies or retail stores. This type of card has a low credit limit and can be paid off each month.

All above methods are just first steps in building a credit history. The next steps are also important because they will greatly influence the history you have started building. Every time you pay or not pay a bill on time your credit history registers it. Having a good credit history shows that you are a person that treats debts responsibly and you're likely to pay back the money that you want to borrow. To gain the confidence of the credit companies they have to see on your credit history that you treat with responsibility every bill. So make sure to pay the total minimum due on every one of your bills and do an effort to pay them by the statement due date so that they arrive on time. Also do you best to pay at least the minimum, if not the entire, balance each month. Try to never skip payments; it doesn't look good on your credit history.

If you ever feel that your debts are getting out of control, immediately seek help from a financial counselor. He will be able to evaluate the entire situation better than you can and he can find the best solution that will get you out of that massy situation. A financial counselor will also advise you to annually check your credit report for any errors that may appear. Then, if any errors are present, correct them immediately.

It is not difficult to start building a credit history; it just takes time and a lot of patience from your side. Yet, we have to admit that the difficult part is to build a good credit history for which you must be able to demonstrate that you can wisely manage your money. Keep in mind that a good credit history will only bring you benefits.

This article has been provided courtesy of CreditorWeb. CreditorWeb offers great credit card articles available for reprint and other tools to help you find the right credit card. You can also use our credit card comparison tool to easily compare credit card offers from multiple issuers.

Credit Score Lowered When You Cancel Credit Cards

Writen by Charles Essmeier

Most people are aware that anytime they seek a loan, the lender will check their credit report to see if their credit history warrants such a loan. Along with the credit report, the lender will almost certainly check the borrower's credit score. Also known as a FICO score, this score is a three-digit number, ranging from 300 to 850, that represents the borrower's overall credit worthiness.

There are several factors that come into play in compiling a credit score. The score takes into account available credit, any past due payments, and the length of the borrower's history, among other things. Also coming into play is the amount of available credit that the borrower has, along with the percentage of the available credit that is currently outstanding.

Borrowers often check their credit reports themselves prior to applying for a loan in order to look for possible errors. Often, they will see old accounts listed that they didn't even know were active anymore, such as a department store credit card from a city in which they no longer live. The first response in this situation is usually to cancel the account, since it isn't being used anymore. This could be a mistake, and could actually lower your credit score!

It is true that it may be a potential problem to have too much available credit. Lenders could have concerns that the borrower with ten credit cards might run out and max them all out. On the other hand, a very important component of the credit score is the length of the borrower's credit history. The longer the better and those people with top credit scores usually have histories of thirty years or more. By canceling an old account, you could be reducing the length of your credit history, which will then consist only of newer accounts.

There are times when canceling unused accounts is a good idea. This is particularly true if the accounts are relatively new ones. But closing an old account, even if it isn't being used, could do more harm than good for someone seeking a loan.

©Copyright 2006 by Retro Marketing. Charles Essmeier is the owner of Retro Marketing, a firm devoted to informational Websites, including End-Your-Debt.com, a site devoted to personal bankruptcy, debt consolidation, establishing credit and credit counseling.

Balance Transfer Credit Cards Faq

Writen by Robert Alan

When it comes to using balance transfer credit cards, many consumers are filled with questions and concerns. While there are many benefits to using a balance transfer credit card, it is always best to have these questions answered and the concerns satisfied before moving forward with applying for one of these cards.

How Can Balance Transfer Credit Cards Save Me Money?

Balance transfer credit cards can save you money by reducing the amount of finance charges you pay every year. If you transfer even a small amount of money, such a $1,000, from a card with a higher APR to one with a lower APR, you will see a difference. For example, if you have a credit card with a 20% APR, you will pay $200 per year to maintain that $1,000 balance. On the other hand, you will pay only $80 on that same balance if you have a credit card with an 8% APR. That is a savings of $120! Imagine how much you will save on larger balances.

Even better, the best balance transfer credit cards offer 0.00% introductory APRs, which means you will pay no finance charges while that introductory period is active. With some balance transfer credit cards, this special rate remains in place until the entire amount you transferred is paid off.

What is an "Introductory Rate?"

An introductory rate is a special APR that lasts for a limited time. Often, the length of time this rate is in place is determined by your credit history. The introductory rate can be in place for as long as one year, though more common durations are six months, three months, and one month.

What is a "Fixed Rate?"

A fixed rate is a rate that does not change. Balance transfer credit cards with a low fixed rate may not offer a 0.00% introductory APR, but they might offer a 7.99% APR that remains this low no matter how long it takes you to pay off your balance, rather than skyrocketing up to 19.99% after the introductory period is over.

Why Does Everyone Say Balance Transfer Credit Cards are More Convenient?

Many people feel balance transfer credit cards are more convenient because it places all of your debt in one place. This makes it easier to track your expenses, to create a budget, and to get your bills paid on time.

Is it OK to Pay Only the Minimum Payment on My Balance Transfer Credit Card?

From a legal standpoint, all you are required to pay on your balance transfer credit card is the minimum payment. From a financial standpoint, however, this is a bad habit to get into. If you pay only the minimum payment, it can take you decades to pay off your debt - and that assumes you are not adding any more debt to your balance. So, if you want to get out of debt (and who doesn't?), it is best to pay off more than your minimum payment. Set up a budget that allows for regular payments above your minimum payment to be sent to the credit card company - and stick to it.

Will a Balance Transfer Credit Card Get Me Out of Debt?

Yes and no. If used alone, a balance transfer credit card will not get you out of debt. If you transfer all of your credit card balances to your balance transfer credit card and pay only the minimum payment, it can still take you years to pay off the debt. Therefore, a balance transfer credit card should be viewed as one tool in you tool belt for helping you work your way out of debt. If used correctly and to its fullest advantage, it can help you get out - and stay out - of debt.

For more on the benefits of balance transfer credit cards, Robert Alan recommends that you visit CreditCardAssist.com

Details Of The American Express Green Card Application

Writen by Beth Derkowitz

The American Express Green card is a rewards card that is excellent for those with good credit who are financially able to pay the full balance each month in order to avoid accumulating credit card debt. There is no pre-set spending limit on the card, but approvals are made based on credit history, personal resources, and account history.

At no additional fee, cardholders can participate in the Membership Rewards Options program where they can earn points that can be redeemed for products and services. The card earns a cardholder one point per dollar spent except for supermarkets, drugstores, the U.S. Postal Service, and when paying wireless telephone bills when two points per dollar is earned. Points are transferable into any one of eleven frequent flyer programs, and a first time purchase bonus of 5,000 points is awarded.

The annual fee for the American Express Green Card is $65 and $30 for each additional card, but the fee for the primary card is waived for the first year. There is a 3% cash advance fee with a minimum charge of $5 for Express Cash transactions. Those who will benefit most from the use of the American Express Green card are those who travel frequently and can take advantage of the rewards program by combing frequent flyer miles with other earned points.

Benefits that a member can expect to derive from the use of the card include the following:

• Online access to account information

• No liability to the cardholder for unauthorized online transactions

• Purchase protection and extended warranty for purchases

• Return protection

• Emergency assistance a travel-related services

• Medical and legal referral services

• Assistance with trip planning

• Insurance for lost luggage

• Guaranteed reservations for hotels and motels

• Emergency check-in service • Roadside assistance

• Insurance for car rental

• Travel accident insurance up to $100,000

• Emergency card replacement

• Financial statement at year's end

For more information or to apply for the American Express Green Card, Beth Derkowitz recommends Find Credit Cards.

Get Rid Of Your Credit Card Debt

Writen by Olivia Andrews

You are a credit card user and your credit card debt has reached to unexpected levels providing you most inconvenience then it is important that you learn how to use it effectively so that no one abuse the credit cards and pay them off easily.

You need to consider these following credit card debt elimination tips:

1. You have to be aware of all the included fees associated with your credit card and therefore you need to know the annual fees, current interest rates, finance charges, cash advance fees and any other fees that is included along with your card because this will help you to make better decisions while managing your cards.

2. You should get cash advances when it is most necessary because higher interest rates are charged and most of the banks usually charge a service fee that is related to how much cash you withdraw.

3. You should look out for credit cards that could offer lower interest rates. Low introductory rates could be helpful if you want to become credit card debt free so you should look for credit cards offering lower intro rates and then you can transfer the balance from your previous credit card to that credit card. The thing to consider here is that after the intro rate has expired, the new card offers you a less interest rate or the same.

4. Most of the finance experts agree that the most common mistake credit card consumers make is the minimum payment because saving lots of money on interest to get debt free goals sooner shall pay you more than what is required each month.

In short, it is very true that to get into the credit card trap is very easy but to get out of it is not as simple. You can even contact your credit card company so as to try to get your interest rate lowered or some different payment plan to be worked out.

Olivia Andrews, writing for Credit Card Debt Consolidation Guide is a freelance journalist and has written many reviews on subjects such as finance, education, health, entertainment, music, gifts, crafts, travel, apparels and mobile phones.

Balance Transfer Credit Cards Are They Still A Good Deal

Writen by Jon Francis

There's been a lot of press lately about the demise of balance transfer credit cards. The reports of their death, to use an old quote, have been greatly exaggerated. Balance transfer credit cards have changed considerably, but they're far from gone and not likely to be going anywhere anytime soon. If you've been considering cutting your interest payments by transferring the balances on your high interest credit cards to one with a special balance transfer deal, here's what's going on in the world of balance transfer credit cards.

For years, credit card companies were able to build their business by enticing new customers from the ranks of those who'd never held plastic before. But with the numbers of credit cards in circulation rising and the average Brit carrying four different cards in his or her wallet, they've had to get competitive with each other. Thus was born the marketing tactic of offering 0% interest for any balance transferred from a competitor's credit card to a new card.

Those 0% balance transfer deals were greeted enthusiastically by the public – a bit more enthusiastically than the issuers of those cards expected. They missed a vital point in their calculations – customers who switch cards for a better rate of interest have already given up brand loyalty in the interest of getting the best deal. When the 0% interest ran out, they simply moved their remaining balances to another card. To counter that, the big credit card companies started modifying their offers with restrictions designed to keep people from jumping from card to card following the best rate.

Some of those restrictions are openly stated and easy to see – reductions in time on the introductory rate, for example. Others are hidden in the conditions and terms of your credit card agreement. Those 'traps' make it all the more important to carefully compare balance transfer credit cards before you move your carried balance from one card to another. It's still worth your while to check on the newest balance transfer offers a couple of times a year, say the money experts, but be sure to compare the offers before you jump from one card to the next.

Moneyeverything.com makes it easy to find all the newest and best balance transfer credit cards and compare them with each other. When you check into the offers you'll find on moneyeverything.com, read the terms and conditions of each balance transfer credit card for the following things:

- What is the APR on your transferred balance and how long does it last?
There are very few 0% balance transfer card deals left, but there are a few. The 0% APR on transferred balances may last for three months, six months, nine months, or in some cases for the life of the balance transfer amount. More often, the APR on your transferred balance will be a low 1-2% for the life of the balance, as long as you conform to certain restrictions.

- What is the APR on new purchases?
Many of the new balance transfer offers require that you use your credit card to make a certain number of purchases per month. This is because the lowest interest rate only applies to your transferred balance. Any new purchases will be subject to a higher interest rate more in line with typical APRs on other credit cards. In addition, any payments that you make will be applied to your transferred balance until it's paid off. That means that your new purchases will sit on your card accruing interest at a higher rate until your entire transferred balance is paid down.

- What are the requirements to keep your low balance transfer APR?
Most cards no require you to make at least some purchases each month to keep the APR on your transferred balance. In some cases, the card agreement will specify a number of purchases without specifying an amount. In others, it will specify an amount that must be charged against your card, and in some cases, it will be both a number and an amount. Remember that those amounts will accrue interest until the balance transfer amount is paid off and choose a card that requires the least amount of new purchase debt.

- What's the balance transfer fee?
Another big change is in the structure of the balance transfer fee. Until recently, most balance transfer credit cards had a cap on the balance transfer fee – a percentage of the transferred balance up to £50, say. Now many have dropped the cap in favor a straight percentage. Before you choose a balance transfer credit card, be certain that the transfer fee doesn't cost you more than the interest that you'd pay on your current card.

Balance transfer credit cards still exist, and will for years to come – but the terms are changing, and will continue to change as the credit card companies plug holes that allow consumers to use them in ways they didn't anticipate. Keep your eyes open for new balance transfer opportunities, but be sure to check them carefully for conditions and traps.

Jon Francis has been involved in various areas with the world of finance and has a keen eye for a bargin! He has an in-depth knowledge of the credit card UK market and now helps others get the best from a credit card. For more information visit "http://www.moneyeverything.com".

The Lighter Side Of Credit Card Debt

Writen by Jim Stedman

Credit card debt is a serious matter that has ruined the lives of millions of people. It can be hard to find humor in a mounting pile of unpaid bills. However, sometimes we need a good laugh to relive the stress and remind ourselves that the best things in life are free….

Here are some jokes having to do with credit cards and debt…enjoy!

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"A man said his credit card was stolen, but he decided not to report it because the thief was spending less than his wife did."

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Larry King interviewed Satan on his radio/TV program. At one point during the interview, King asked Satan to describe the foulest deed he'd ever done. Satan refused to name one, pointing out that there had been so much destruction over the years, so many lives cut short, and so many wars and calamities that none stood out. But Larry King kept pestering. 'Surely, if you think hard enough, there must be one dastardly deed you are most proud of.' Satan thought for a moment, his eyes brightened, and he replied, 'Well, yes. I guess if I have to pick just one particularly evil thing I'm proudest of, it would be this: several years ago I invented credit cards.'"

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In March 1992, a man living in Newton near Boston, Massachusetts received a bill for his as yet unused credit card stating that he owed $0.00. He ignored it and threw it away. In April he received another and threw that one away too. The following month the credit card company sent him a very nasty note stating they were going to cancel his card if he didn't send them $0.00 by return of post. He called them and talked to them about the problem. They said it was a computer error and told him they'd take care of it.

The following month our hero decided that it was about time that he tried out the troublesome credit card figuring that if there were purchases on his account he could end this ridiculous predicament. However, in the first store that he produced his credit card in payment for his purchases he found that his card had been cancelled.

He called the credit card company who apologized for the computer error once again and said that they would take care of it. The next day he got a bill for $0.00 stating that payment was now overdue. Having spoken to the credit card company the previous day, he assumed the latest bill was yet another mistake he ignored it, trusting that the company would be as good as their word and sort the problem out.

The next month he got a bill for $0.00 stating that he had 10 days to pay his account or the company would have to take steps to recover the debt. Finally giving in, he thought he would play the company at their own game and mailed them a check for $0.00. The computer duly processed his account and returned a statement. It reported that he now owed the credit card company nothing at all. A week later, the man's bank called him asking him what he was doing writing a check for $0.00. After a lengthy explanation the bank replied that the $0.00 check had caused their check processing software to fail. The bank could not now process ANY checks from ANY of their customers that day because the check for $0.00 was causing the computer to crash.

The following month the man received a letter from the credit card company claiming that his check had bounced and that he now owed them $0.00. Furthermore, unless he sent a check by return of post they would be taking steps to recover the debt.

The man, who had been considering buying his wife a computer for their anniversary, bought her a typewriter instead.

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At a grocery store in Milpitas, they have new credit card/bank card readers at the checkout stands. If you don't know how to orient your card to swipe it through the reader, the checkout person will say, "Strip down, face toward me."

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I was signing the receipt for my credit card purchase when the clerk noticed that I had never signed my name on the back of the credit card. She informed me that she could not complete the transaction unless the card was signed. When I asked why, she explained that it was necessary to compare the signature on the credit card with the signature I just signed on the receipt. So I signed the credit card in front of her. She carefully compared that signature to the one I signed on the receipt. As luck would have it, they matched.

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So you have received a credit card application? You know what it says, but do know what it really means?

What it says: "You have demonstrated financial responsibility..." What it means: You're breathing!

What it says: "Our membership is difficult to obtain..." What it means: Death row prisoners are not eligible... in most states!

What it says: "We have shortened the application process..." What it means: "We need lots of new members fast or we'll go out of business!"

What it says: "You have no predetermined credit limit..." What it means: "We're not worried, we employ the Break Your Legs collection agency."

What it says: "Exceptional Customer Service..." What it means: Except when you need it!

What it says: "Trained customer representatives await your call..." What it means: "This is the part you talk into, and this is where you listen. Any questions?"

What it says: "To apply for membership, fill out this short form..." What it means: You'll get the long form later.

What it says: "You may direct us not to share this information with anyone else..." What it means: "Catch us, if you can!"

What it says: "We look forward to receiving your completed application..." What it means: "We baited the hook, let's see if anyone bites!"

What it says: "You've been pre-approved..." What it means: "You've been pre-approved to be Rejected!" or "We've already prepared your letter of denial."

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Jerry Jones applied to a debt-collecting agency for a job, even though he had no experience.

He was very intense, so the manager gave him a tough account with the promise that if he collected, he'd get the job.

Two hours later, Jerry returned – with the full amount!

Jim Stedman is a leading authority on helping people manage their credti card debt, and the creator of http://www.payingcreditcarddebt.com

How To Establish Your Credit

Writen by Johnny Saing

Credit cards are part of life nowadays, and you will always need one to make a hotel or plane reservation, or to rent a car or rent a video, even if you plan to pay cash. Many stores require a credit card to accept your check; however, people who have never had credit, they cannot get a credit card. So you need credit to build credit.

How would you establish credit when you need one?

Establishing requires responsibility, and you must get your priority in order. Credit is a credit history report of borrowing and paying characteristics of individual's spending habits. There are many ways to establish your credit:

1. You can establish credit by using your bank account as collateral and get a credit card from your bank. You use the credit card to spend on your everyday needs. Nowadays, you can use your credit card to buy gas, grocery, auto repair and etc. Next, you pay off your total balance every month so that you won't have to pay the interest rate. You have option for credit from different credit lending institutions, bank, credit union, department stores, and etc. to fund your credit needs and requirements.



2. You establish credit by financing your purchase such as buying an appliance, buy a vehicle and even get your first cellular phone. You will need to put some money for down payment. Make sure that you make your payments on time. It depends on the company, which does the financing. Some companies will report your payment history to the credit bureaus. And some other companies don't report your payment history to the credit bureaus, and usually they will give you history of your payment with notarization on it. It is your responsibility to send a copy of your payment history to each of the credit bureaus. Send your letter by certified mail, "return receipt requested," so you can document what the Credit Bureau received.



3. You can also establish your credit through secured credit card. A secured credit card requires a cash collateral deposit that becomes the credit line for your account. For example, if you put $500 in the account; you can charge up to $500. You may be able to add to the deposit to add more credit, and sometimes a bank will reward you for good payment then add to your credit line without requesting additional deposits.

Responsible use of a credit card and keep your payment on time will build a good credit rating history, and within two years you will be able to qualify for a regular credit card. Just within four years you will have mortgage-worthy credit history.

Not portability

Credit history is not portable; if you live in one country your credit history will stay in that country. When you move to another country, your credit history will not follow you to your new country. For example, you live in United States of America and your company decides to move you to manage a branch in one of the country in Europe or Asia. You will have to establish a new credit history in your new country.

Credit is the necessity instrument for personal and business financial transaction in America. And it may be also part of financial transaction in other countries in the world.

Who usually needs credit?

Most people from the middle-class income group opt to establish credit to get loans for funding their living requirements and as well as present needs, the reason being that the people of the middle income group usually can't afford to spend a lot of money together. Thus, they opt for credit loans to satisfy their financial needs. However, with the advent of time the availability of credit in the market, too, has seen a recent rise along with the demand of credit in the market.

There are many ways credit available in the market place, as to how an individual can raise credit for his individual purpose. People can raise credit from the market to meet up their present demands; they can raise credit to meet the demand of their collectors; they can raise credit for any reason that they want from the market, depending upon the situation and demand of funds by the borrower.

However, problem arises when the borrowers are refused credit in the market by the lenders. The reason can be anything. Sometimes an individual has never taken any credit at all, or because he or she has a bad credit history, so he or she will not get any credit. Therefore, if any person does not have any credit history and wants to build credit, he or she should have all the priorities in order, or he may not be able to build any credit.

In case the borrower has no credit and needs money to make out or sort out any payments then he can be a financial strain, if he or she has bad credit or no credit. Establish credit using credit card is very important, if any person has to make out any payment and has no cash available with him, and then he can make the payment from his credit card. This avails him with some time; for instance, he can make the payment in monthly installments, to the credit service providers. Responsible spending, in due time, then it avails him the luxury of better credit, which can lead to increase spending power in time to come.

Johnny Saing is a Webmaster who has witnessed first hand the effects of credit report errors when he checked his own credit report. He is the publisher of Creditsknowledge.com. A website that provides articles on credit report: dispute credit errors, where to get your free credit report, improve credit score and etc.

A credit card offers

A credit card offers just that -credit, the right to borrow funds from a lending institution. When you make a purchase or withdraw cash (usually called a cash advance), funds are drawn from your "line of credit." You pay back the amount you borrowed or "charged" each month, or carry over to the next month (revolve) a certain amount that was borrowed and you are assessed an interest charge.


You are then responsible to pay the interest charge as well. Credit cards carry a brand logo (e.g., Visa, MasterCard, American Express, etc.) and are accepted by participating merchants. When you use your credit card, the transaction requires a signature.


By contrast, ATM cards let you withdraw money from your account when you make a purchase. Secured credit cards are essentially a combination of the two. They look like a credit card, but you must first deposit money with the card company. The amount of money you deposit becomes your credit limit.


Choosing the right credit card for you can be too easy. Unless you live in a cave without mail, Internet or phone service, you are probably on the receiving end of dozens of credit card offers every year. Some of these offers may look like good deals but have attributes hidden in the fine print that make them a bad choice. That is why it is always important to research the best credit card offers available for your situation.


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About The Author

This article was written by Beth Pardue who has over 10 years of experience in the financial industry assisting clients with assorted financial needs. To learn more about credit cards or to apply for a credit card online please visit: Visit http://www.easy-approval-credit-cards.com

http://www.easy-approval-credit-cards.com today!

[tags]credit cards, credit, credit card, bad credit, credit card offer, loan[/tags]

Five Reasons To Repair Your Credit Score You Can Do It Yourself

There are multiple reasons that tell us why we should have a 700+ Credit Score, but these five facts will definitely give you the big picture and hopefully will drive you to want to fix your credit score starting today.

Fact #1: Did you know that consumers with Credit Scores of 700+ are likely to get interest rates up to four points lower than those with scores under 640.

Fact #2: People with Credit Score below 620 won't get approved for a home mortgage 97% of the time. Therefore if this is your case, you'll have to keep renting forever!

Fact #3: The interest rates for Jumbo Loans in today's market are as low as 5% in interest only loans, for 10 years. Only for consumers with FICO score of 720+. Do the math.

Fact #4: Were you aware that you can finance a brand new car for up to 60 months at 0% APR, if your credit score is 700+.

Fact #5: Did you know that there are multiple credit cards companies offering 0% APR not only for balance transfers, but for purchases for up to 18 months... of course when you have a 700+ credit score. Imagine the possibilities!

Credit Card Balance Transfer The Best Offer You Should Look For

In today's society, people purchase all their everyday needs by using a credit card. You can pay for everything by using a credit card, such as your groceries, electric bills, and even gas for your car. Just imagine, by just having a credit card, you can purchase anything you want without having to carry cash around.

Basically, what a credit card offers is that you don't have to worry about not having the cash, worry about the credit card bills you have to pay after a month.

It is a fact that credit cards are a very useful tool that you can use today. However, owning a credit card also has its risk. Since people don't have to worry about purchasing things with a credit card, they tend to overdo it. Sometimes people get that urge to buy that new pair of shoes they really want but don't have the money for it. They tend to use their credit cards for it.

Because of this uncontrollable spending, people get into credit card debt. With a high interest rate credit card, this can be bad news. You will likely end up paying more on interest rather than paying the actual debt itself. So, one way to get rid of this debt is through credit card balance transfers.

Credit card transfer is one of the best ways and the easiest way to avoid high interest on your monthly credit card bills. If you have a number of credit cards, you can basically use the other credit cards to pay for your debt.

The first thing you need to do is choose the credit card with a low interest or zero interest rate. This credit card is the best card to transfer your balance to. With a low interest or zero interest rate, you will certainly save a lot of money and is the best way to get rid of the debt.

However, credit card balance transfer also has its drawbacks. Some companies charge a credit card balance transfer fee that can be as high as four percent of the debt. You should also make sure that you pay on time to avoid rise in interest rates. Also, you have to watch out for hidden fees, make sure that the credit card you are transferring your balance to doesn't have hidden fees that you will be required to pay for.

Certain low interest or zero interest credit cards has expiration periods on the low or zero interest rate introductory periods. It is important that you should learn when the introductory period will end to help your prepare for another credit card balance transfer to another card with low interest or zero interest rate.

In order to get the best credit card offers, you have to shop around for it. It is a fact that there are a lot of zero interest and low interest rate credit card offers, but you should also keep in mind that these offers are usually offered on a limited time only. Make sure you read the small print in order to understand the promo and know when the introductory period will expire.

As much as possible, you should always consider the credit limit on the card you are considering to transfer the balance to. When it exceeds the credit limit, you will likely pay additional charges and will also make the interest rate rise. These are the things you should remember when making a credit card balance transfer.

James has written many articles about the benefits of business and college student credit card offers and runs a website on locating the best credit card offers for your lifestyle.

Bad Credit Doesnt Have To Be Hell

Writen by Sarah Dinkins

Even if you look for a loan just a few hours after you declare yourself bankrupt, you will still be able to find many lenders willing to lend to you, provided that you meet certain other requirements. You are still eligible for a car loan, a home mortgage loan and a credit card. Truth is that it is not easy to get approved but by choosing the right lender you can get a loan for people with bad credit. Though the terms won't be too advantageous, you'll still get your loan.

Approval, Terms and Risk

The financial institute or the lender keeps in mind that by offering a loan to you, much risk is on stake. That brings up the interest rate, as higher the bet, higher the rate. Though you will not be at ease with the interest rate, you will still be able to get credit even if you have a bad credit history.

A rate of interest is calculated on the basis of the general rate of interest in the country and the stakes or risk involved in that specific loan. Most of the financial institutions follow the prime rate given by the U.S. government, but they just use it as their base rate. The actual rate could be a point higher or lower than that. The prime rate is only for their esteemed customers but the ones with bad credit are given higher rates.

Base Rates

The interest rate you pay will be calculated over a base rate and a certain percentage will be added to it according to the risk. Other than the prime rate, the other base rates are the LIBOR (London Interbank Offered Rate) and the specific Treasury bill rate, which is issued by the U.S. government on bonds for a number of years. Prime rate controls the credit cards and car loans whereas; the mortgage loan rates are dictated by the other rates.

There is an addition to these rates; a percentage above the prime rate and about 10% above the LIBOR are the interest rates for people with a good credit rating. For cases of bad credit, there are more add-ons. A home equity loan carries an interest rate similar to a mortgage loan and can be obtained easily by people with bad credit.

An unsecured personal loan is given at approximately 6% above the prime rate normally, and, in case of bad credit, this rate can shoot up. Though it may sound excessive, truth is that the lender has to compensate for the risk taken by lending to someone that might not repay the money lent.

Recovering Credit

For some time you'll have to cope with high interest rates. It is not very easy or quick to rebuild your credit. There is no point in loosing hope and crying over spilt milk. The process of recovering your credit may take a couple of years, but by paying your monthly payments on time you'll gradually improve your credit score and clean your credit history.

Sarah Dinkins is an Expert Loan Consultant in the financial industry that helps people to repair their credit and get approved for home loans, unsecured personal loans, student loans, consolidation loans, car loans and other types of loans and financial products. At http://www.badcreditfinancialexperts.com/article/ she is continually adding new finance articles useful for those in need of professional advice.

Business Cards Online The Wave Of The Future

Writen by Keith Londrie

Many companies and self-employed individuals have turned to the internet to order their business cards online. Ordering business cards online has become a very big trend over the past couple of years. This trend has become popular for a couple of reasons--and there is no sign of it slowing down. Printing business cards online can be both time and cost effective for a company. One online business card printer that I personally use is Vistaprints.

One main advantage of ordering business cards online is the turnaround time that is offered. If you order your business cards online, you can have them back within a couple of days if you put a rush on them. This cuts out all of the time it takes to call the order in and explain every detail. You simply use the business card web site to actually design your cards to your specifications. Most of these web sites offer a variety of different formats, fonts, colors, etc.

Printing business cards online can also be more cost effective than turning to a traditional printer for help. Online business card companies can charge a lower price due to the large volume of work they complete, and the low overhead cost. You should at least try an online business card printer to see for yourself how much can be saved and the flexibility of design and turnaround time.

Also, printing business cards online is a great way to ensure your card will turn out just the way you want. These companies allow you to customize your cards, as well as see immediate prints of how they will appear. This is very important to companies that do not know what they want to do with their design. You simply begin experimenting with the different designs offered until you find one that appeals to you.

There are many online business card companies to choose from. If you go to your favorite search engine and type in business cards you are sure to get results for the top rated companies. Be sure to do your homework on all of these companies before you choose one. What one company charges you for; another company may give to you for free. Every company is unique in their own way, So be sure to find out which one best suits your needs. Once again, I personally use Vistaprints because they offer a wide selection of designs, layouts, artwork, fonts, quantities, etc.

Keith Londrie II is a well known author. For more information on Business cards, please visit Business Card Information for a wealth of information.

http://www.business-card-info.info

A Guide for Student Credit Cards

Oh, what a wonderful and terrifying time going off to college can be. Moving away from home and making it on your own is a huge step. You have taken all of the right classes to prepare you to succeed as a college student. But, you need the proper education outside the classroom in order to succeed. That includes knowing how to handle your student credit cards.

Keep Your Head On Straight!

One of the first things you will notice when you arrive on campus is that there are student credit card vendors everywhere. It makes sense, really. The credit card companies want to establish relationships while their client base is young. This relationship can lead to car loans and mortgages down the road, not to mention finance fees generated by the exuberant spending of American youth. Before you embark on this smorgasbord of credit consumption, you ought to consider a few things.

Consider, for instance, that the average student ends their college career with just under $3000 in credit card debt. An astounding ten percent of all students graduate with more than seven thousand dollars in credit card debt. I know, I know, you hear this statistic all of the time. It seems abstract and it is easy to tell yourself, “Well, I’m not the average student; I won’t fall into that trap.” That’s good. No, really, that is a great frame of mind. The (difficult) trick is to keep that perspective so you don’t get seduced by your newfound spending power.

Some Quick Tips

Here are a few quick tips to keep your finances in order:

1. Keep your card count low – Have you ever seen John Q. Consumer with 39 credit cards in his wallet? Absurd. Since you are just starting to build your credit history you shouldn’t need more than a couple of cards. Choose wisely.

2. Shop Around – Don’t grab the first credit card offer you see. There are a ton of options out there, and a little patience will get you settled into the card you need, and possibly save you much money and stress over the long run.

3. Pay Your Balance!!! – It’s the cardinal rule for developing superior credit: keep your balance low, and pay it off completely when it’s appropriate. If you do this now, you will get far better credit card offers in the future.

4. Tell Your Parents – Yeah, yeah… it’s the last thing any college student wants to hear. “Tell your parents.” Um, yeah… right. Well, in spite of your new independence you should let your parents know about your credit cards. They are a good resource for not just emergency financial support, but more importantly, for financial advice.

“In Conclusion…”

Finding the right student credit card can make all of the difference. Two of the most popular student credit cards are the Citi Platinum Select for College Students, and the Discover Student Clear Card. The Citi Platinum Select Card is an all around solid choice for first time card owners. It is an essentially bulletproof option for any student looking to establish credit history without having to worry about a minimum income, or a co-signor on the card. For those students looking for a little extra, they should start with the Discover Student Clear Card. The Clear Card has a lot of extra features, including up to 5% cash back on specific purchases. Both cards share a six month introductory APR of 0%.

When you arrive to college it is a good idea to get a student credit card or two, but it’s a better idea to use them wisely. You will quickly find that the right card is an extremely useful tool for your purchasing habits and developing a stable credit history. You shouldn’t be afraid of credit card ownership; rather you should realize that this is an early step to develop a happy financial picture in the long run.

Copyright Ed Vegliante. Free online reprints of this article are allowed provided the resource box remains intact with a live link back to http://www.credit-card-surplus.com

Please click here to find Student Credit Card Applications. Ed Vegliante runs the website http://www.Credit-Card-Surplus.com, a well organized credit card directory enabling the consumer to compare and apply for a variety of credit card offers. View more Credit Card Articles.