Five Tips To Raise Your Credit Score

Writen by Rachel Oliver

You benefit by having a good credit score. Lenders give you lower interest rates on mortgages, car loans and other financial products.

Any time your credit score falls below 620, it becomes difficult for you to get loans with reasonable terms. In such a case, you need to undertake credit repair to improve your credit rating. There are simple ways by which you can raise your credit scores and undertake credit repair. Let us have a look at them:

*Check your credit report - Ensure that you regularly get your credit report. If you notice any irregularity or discrepancy in the credit report, immediately report to the credit bureau to have it corrected. Once corrected, it will raise your credit score. Ensure that your credit report comes from one of the three major credit bureaus: Experian, Trans Union or Equifax.

*Pay bills on time - Ensure that you pay your bills on time. 35% of your credit score is dependent on your payment history. The current or recent payment history has more weight than that of three years ago. Remember, missing one payment affects your credit score by 50 to 100 points. Timely payments are the best way to rebuild and raise your credit score.

*Pay down your debts - Your outstanding balance on your credit card is reported once a month to the credit bureaus. To them, it does not matter if you pay or carry your balance forward every month. Credit bureaus, generally, do not bother whether you are carrying balance on your cards or not. What matters is that there is a lot of gap between the amounts of debt you carry and your credit limit. The more wide the gap, the better your credit score. The less you charge on your card, the more it will raise your credit score.

*Do not close old accounts - Most people close old accounts they are not using. This used to make sense, but with today's system of scoring, this actually hurts your credit score. Closing these older accounts, in effect, lowers the total credit available to you and this causes the balances you have, to appear larger when calculating credit scores. Closing of old accounts also shortens your credit history, making you appear less creditworthy.

When faced with a case of Identity Theft, you would tend to close your old or paid off accounts. This may lower your score minimally, but by not closing your old accounts, you raise your credit score.

*Avoid bankruptcy - This is a sure shot way to destroy your credit score, as much as by 200 points. A bankruptcy gets reported up to 10 years. Avoid bankruptcy at all costs.

Credit repair is necessary for not only getting loans and credits but also to get them at a good rate. You need to keep your outstanding debts at bare minimum and pay your dues on time to enjoy a healthy credit rating.

Rachel writes for several directories on finance. Read more of her work at: Quick Loan Resource and Credit and Debit

Tips On How To Apply For A Credit Card

Writen by Morgan Hamilton

Deciding to apply for a credit card is not a decision you should take lightly. Many stores try to get you to impulsively apply at the register, and you should never agree. Credit cards can affect your financial situation for years so you should certainly think before you act. If you want to apply for a credit card, there are a few steps you should take beforehand.

Evaluation

Before you apply for a credit card, you should do an evaluation of your finances. Get a free credit report and make sure everything is accurate. You will want to know what your credit score is so you will know which cards to look at when you apply for a credit card. If there is anything unusual or incorrect on your credit report, deal with it immediately. Many people never look at their credit report, and therefore have no idea what may or may not be on it. It is important to clear up anything incorrect on your credit report before you apply for a credit card.

Research

After getting everything strait with your credit report, you should begin researching. Research cards that fit your credit score. Make a list of important characteristics you want in a credit card. Look for the best deals in several areas. Before you apply for a credit card, you should make sure you understand everything about the card and the company's policies. Look at the interest rates, rewards programs, and other characteristics.

Be wary of great introductory offers. When you apply for a credit card, many companies will offer you fantastic introductory deals. It is great to take advantage of these deals, however you should be sure that the terms won't change unexpectedly after the introductory offer time period is over. For example, you will need to know what the interest rate will be after the offer before you apply for a credit card.

Conclusion

Once you find several credit cards with terms that you understand and like, categorize them by your choice. Apply to one at a time. If you only need one card and apply to three, you run the chance of getting approved for all three. This will not only reflect on your credit report, but also give you the inconvenience of canceling two of them. So, be patient and wait for a response.

When you apply for a credit card, you are vowing that you will be responsible financially. Deciding to apply for a credit card means that you know you will be able to pay the balance off in a timely manner. If you are not sure of your ability to pay, you should never apply for a credit card. Be responsible, examine, and research before applying!

Morgan Hamilton offers expert advice and great tips regarding all aspects concerning Credit Cards. Get the information you are seeking now by visiting Apply for a Credit Card

Managing Your Credit Card Online

Writen by Peter Kenny

The Internet is growing in importance in all fields of commerce, and this is being reflected by the way in which credit card companies are now dealing with their customers. You can achieve more and more of the transactions and business of life online and it is fast becoming the preferred means of conducting trade and transactions of all types.

There are very few credit card providers operating these days who will not allow you to interact with the company through the internet. You can start right from the beginning with your first application online and then once you are approved you will also be able to manage your credit card account online also. This means that you will have full access to all of the information in your account and will in many cases be able to up date and amend the information.

Check online at any time…

Also, you will be able to check how much you owe on the card and more importantly, where you have spent the money. You will have full access to your monthly or weekly statements and can see where and when each transaction was made, what was purchased and how much it cost. You will also be able to see how much of your balance you have left to spend.

As well as all of this information you will be able to pay money into your credit card account or pay off your credit card bill if you want to. You can also transfer money out of your credit card account, change your pin and do everything necessary to manage your account. You can do this faster and with a lot less hassle than if you were forced to get in contact with your credit card company by more traditional means such as telephone or mail. The amount of time and effort that this saves is a huge benefit to both credit card companies and customers alike.

The main advantage…

One of the main advantages to managing your credit card online will be that you always know how much you owe on the card. This will give you the benefit of allowing for you to plan for repayments and budget more effectively. This will make it easy to keep on top of all payments and avoid getting into credit card problems before they happen and thus avoid penalties and other charges.

In most cases you will have to register to manage your credit card on line. This will probably mean filling out some online forms and probably over the phone as well. You will have to remember your login identification and password. However, the benefits and convenience of being able to manage your credit card online far outweigh the time and effort that it takes to set up the system.

Peter Kenny is a writer for creditcards-gb For additional articles and an extensive resource for everything about credit cards, please visit us at http://www.creditcards-gb.co.uk and http://www.creditcards2go4.com.

Bad Credit Need Money

Writen by Peter Emerson

Failing to pay debt on due dates or by a specific time is the main reason for experiencing a bad credit rating. Individuals with bad credit ratings have very few options in obtaining a loan. Bad credit mortgage loans are especially intended for people with a bad credit rating. There are quite a lot of mortgage loan providers who are willing to give loans to peoples with bad credit. A bad credit mortgage is specifically formulated for people who cannot get a mortgage from a high-end mortgage supplier. Bad credit mortgages are always available at a higher rate or for a lower maximum amount because of the higher risk that the loan owner might face.

Bad credit payday loans seem irresistible and alluring, as they offer fast money. You have to give the lender a post-dated, signed check in return for a loan. Almost all payday loan companies provide a nominal loan, ranging from $100 to $500 for individuals with bad credit. People with bad credit should apply for a loan from standard lenders, online or local to see if they qualify, and what the interest rates will be. One thing to keep in mind is not to apply or join any membership that asks for a membership payment.

The most important thing to consider when applying for a personal loan if you have bad credit is not to opt for a loan that will put you in worse financial shape than you are already in. You can also ask your family, friends or associate to give you a loan on short-term basis. If they agree, give them signed statement with the repayment terms carefully outlined. The best thing to do is give a written explanation regarding your credit history and how you plan to rectify that bad credit history.

Need Money provides detailed information on Need Money, Need Money Fast, Need Money Now, Bad Credit Need Money and more. Need Money is affiliated with Business Plans.

Why Go For A 0 Intro Rate Credit Card

Writen by John Mussi

Although really, the question should be, why shouldn't you go for a 0% intro rate credit card?

Before we dig into that question however, let's first concentrate and the merits of having your own credit card. Indeed, a lot of people who have never owned a credit card in their whole lives tend to disparage the necessity of owning one, saying that credit cards would just push you to a life of heavier indebtedness but really, how would they know that if they haven't yet tried owning a credit card?

Indeed, owning a credit card could lead you to being heavily indebted but that's only if you allow yourself to spend more than you should. It's not the credit card company's fault if you tend to spend beyond your credit limit, is it? And do consider the advantages of owning a credit card as well. There are a lot of instances that you find yourself short in cash. What do you do next if there's no one at the right place and time to lend you money? But you see, you don't have to worry about that when you own for yourself a credit card.

Besides that, owning a credit card also allows you to purchase something you truly love or desire but is beyond your present means. And after purchasing the object of your desire, you can simply opt to pay for it by installment! Without a credit card, you wouldn't be able to buy yourself a brand new mobile phone because it's way beyond your budget. But you need and want it now! Well, with a credit card, that dream can easily turn true.

And now, we turn to the focal point of our article: a 0% intro rate credit card. There are many types of credit card to choose from but we're concentrating on the 0% intro rate credit card because we believe it could be of benefit to you especially if there are some things that you want to buy but are quite expensive.

With that particular situation, a 0% intro rate credit card would be most advantageous because it would allow you to purchase what you have planning to purchase for quite a long time now and pay for it in installment without having to worry about exorbitant interest rates!

Make sure however that you get to pay for the full amount of your purchase well before the intro period is over so that there's no need to get anxious about the interest rates.

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.

The Importance Of Small Business Credit Cards

Writen by Jeremy Biberdorf

Small business plays a vital role in today's economy. It is now easier than ever to establish a new business. According to the US Small Business Administration, small businesses pay over 45% of the US private payroll. Small businesses also employ over half of all private sector employees and provide 60-80 percent of new jobs over the past 10 years. With about 28.5 million small businesses in the US alone in 2005, virtually all financial institutions now offer small business loans to qualifiers for a percentage. So why apply for a small business credit card?

Keep Track of All Your Small Business Expenses

The first and most obvious reason for a small business credit card is to separate personal finances from business related purchases. With your small business credit card, you can make all your transactions by phone, internet or in person. Then get periodic statements detailing all of your business expenses.
Business credit cards are accepted virtually everywhere that you shop. Covering business purchases with employee's personal money can get very messy. So instead of relying on cash, use a business credit card. Most credit card issuers offer a credit limit for employee cards as well as different methods to monitor how the card is used.
You no longer have to dread the year-end nightmare of trying to track where and when you spent your money. It's like having all your book-keeping done automatically for you! In a digital world, why should your business have to collect every last printed receipt?

Establish Your Small Business

A credit card with your business name on it gives your business credibility. A business credit card looks a lot more professional than paying from your own wallet. It also gains the respect of financial institutions. Just by owning a business credit card, your business can build credit. So when you need that business loan, you will get the best interest rate and qualify for higher amounts. As your credit builds you might also qualify for a lower interest business credit card.
So even if your business doesn't have a 6 figure budget, a business credit card could help your business grow. You never know when your business might suddenly need extra money. Office equipment might need immediate replacement. Without a business credit card, financing could drastically interfere with your daily routine.

Earn Rewards with a Business Credit Card

You can also save money and earn rewards. Certain business credit cards give you cash back on all your purchases. Other cards give you varying cash back percentages depending on where you shop…gas stations, grocery stores, office supply stores, etc. A cash back business credit card is a great way to increase your profit margin.
Other cards give you airline travel rewards just for using your credit card. For instance, if your company has frequent business plane trips, then small business credit cards that offer travel miles, hotel accommodations or travel insurance are most suitable. This type of credit card could give you travel discounts, free flights, free companion travel or upgraded flight seating.

Not only does a small business credit card provide convenience and rewards, it also helps to build business credit for the future of your company as you watch it grow! Research the business credit cards available and find the card that best suits your business needs. Finance your business for today and tomorrow.

Jeremy Biberdorf writes for http://www.smallbusinesscreditcards.net - a directory of business credit cards from top issuers such as American Express, MasterCard, Visa, Advanta, Chase and CitiBusiness. Compare Business Credit Cards

Credit Reports Guide

Writen by Mansi Aggarwal

Big and small loans have become quite a commonplace these days. Borrowing money has also become quite frequent with the advent of credit cards. As more and more people are banking on loans and other money borrowing techniques to accomplish their tasks, in order to save themselves from deceit banks and other money lending organizations have started enquiring about the individual's history first.

The information so sought by banks and such organizations is in the form of a credit report. For any lender/s a credit report is the ideal way to determine a person's creditworthiness. A credit report is a document that lists the concerned person's credit history, employment and residence history. The personal details so mentioned in the report are the details filled by the person in his credit application. The report is created and updated using information from banks, traders and other creditors. Credit report also lists any judgments, tax liens, bankruptcies or similar matters of public record entered against the individual. In simple terms the report also records the number of times your credit report has been sought whether by a lender, service provider, landlord or employer which remains for up to two years.

Reflecting on a person's past credit structure, a credit report thus enables a creditor to assess the ability of a person to repay the loan or make timely payments. This makes it easy for him to decide whether the loan is to be sanctioned in favor of the person or not.

But the fact is that a credit report can never be made available to any organization without the consent of the person being reported on. Moreover there are times when reporting agencies refuse to provide credit reports or investigate credit disputes, saying that they cannot identify the consumers. They ask the consumer to mail the copies of ID and utility bills or any other important documentation. Also for men and women in military it is even more difficult to get their own credit reports and many a times when you are overseas, it is just impossible to get that.

Lately it has been seen that access to credit information is proving to be a bone of contention for the businesses and consumers. Some big fish in this market such as Equifax, Experian and Trans Union are planning to introduce their own multi-agency credit score to outwit each other.

Every such company aims to make profits by providing accurate and instant credit information to the consumers. But unfortunately most often the results are disastrous in the form of inaccurate credit reports, identity theft and huge fees for credit monitoring after the consumer's identity has been made available to thieves.

However a lot of nuances can be prevented if the consumer is cautious. After an individual gets his report, he should study it thoroughly. Anything negative on the report should be corrected right away, like the unpaid bills. Once you have paid the dues, let the concerned business notify the credit-reporting agency of it.

The accuracy of the report i.e. opening of any new account, charges you did not make or negligence or crime you are not responsible for etc. should also be carefully checked. If there is any fault, immediately report the concerned credit report agency about it.

Mansi aggarwal recommends that you visit Credit Reports for more information.

Credit Counseling Programs

Writen by Elizabeth Morgan

If you're in economic trouble, you definitely need as many alternatives as possible. Most of the time, you have to cooperate with agencies that will provide you with the weapons needed in order to fight against debts. Whatever the case may be, credit counseling agencies usually have a program that fits the specific needs of the situation. The two most common credit counseling programs are listed below.

Debt management programs include confidential budget counseling for every situation. Additionally, the counseling agency and the client make special arrangements in order to start the procedure of clearing the debts that the client has. The agency does special negotiations with the lender, and the person in debt is provided with lower monthly payment fees. Furthermore, counselors provide those who seek advice with guidelines and tools in order to avoid future economic trouble.

Money management programs are designed to help the client enhance his money-management skills. This is mostly achieved through educational courses that are divided into smaller parts. Typical examples are "Understanding the value of money," "Understanding debt," and "Understanding credit." Through educational courses, clients can improve their financial situations and master the skill of money management. They can be more sophisticated about their future moves, and they are less likely to fall into traps in the future.

All in all, credit counseling programs are designed to help those who for some reason are facing financial trouble. The most common reason why people might want to visit such agencies is when they are having problems with debts that they cannot encounter directly. If you ever happen to be in such a situation, do not hesitate to consider this alternative; after all, they are there to help you.

Credit Counseling provides detailed information on Credit Counseling, Consumer Credit Counseling, Credit Counseling Services, Free Credit Counseling and more. Credit Counseling is affiliated with Credit Card Debt Management.

What Are Platinum Credit Cards

Writen by Joseph Kenny

Platinum credit cards are generally offered to those individuals with good credit ratings and an income of around £20,000 per annum or more. Platinum credit cards have many benefits and features compared to a standard or gold credit card. Conventional school of thought would find platinum credit cards to be a status symbol. However, relaxed rules and upper limits have brought them within reach of the average person too.

A platinum credit card can be a good choice if you frequently use credit card for your routine and high purchases and pay back the whole credit at the month end. You get a high limit of credit and sometimes no limit at all if you show a high earning power of annual income £25,000 or more. However the actual high level of credit you'll get depends on your income and credit rating.

Platinum card owners are privileged because they do not have to pay the usual high interest rates on credit. Generally there is a low or no annual fee. You can get a number of benefits and rewards such as free air miles, discount points, reward points for purchases and cash back. If you cannot make the most of platinum card deals it is better to opt for standard credit card. Since, maintaining a platinum credit card can prove to be a costly affair in the long run if not used and managed properly.

A number of credit card companies offer special facilities such as:

Protection against accidental injury, sickness and involuntary unemployment

Protection against card theft and loss

Online credit card fraud protection

Travel insurance and special travel services

Flexibility to share it with friends and family

Platinum Card Guidelines

There are certain things you must never overlook while signing up for a platinum credit card. Make sure you spend only that much amount that you can easily payback because even if you fail to pay one monthly payment it will account for a negative credit rating. Bottom line is that the benefits should always amount up to more than you pay.

Joseph Kenny is the webmaster of the UK credit card comparison site http://www.creditcards121.com/, where you can find a selection of credit card advice. For US visitors there is also the comparison site http://www.credit-cards-info.com/ for all US interest free offers.

The Advantages Of Airline Credit Cards

Writen by Morgan Hamilton

Credit card companies are becoming very competitive. With the use of credit cards becoming an everyday part of life, credit card companies are scurrying to get your business. Many credit card companies have teamed up with other companies to offer rewards or perks to users. Airlines are one of the top companies that they have team up with. Travel and credit go hand in hand to provide the customer with free air miles for purchases they make on their credit card. Airline credit cards have many advantages for the frequent traveler.

Airline credit cards have a major credit card company backing it, but also displays the airlines logo or name. As you make purchases you earn points towards these airline miles. Most airline cards have a certain number of points you must gain before earning a free ticket. It is important to read the details about a card before signing up so you understand how the point system works. Shopping around is always a good idea, as an airline may have ties with a few different cards. Different credit cards offer different fees, charges and point systems. An airline credit card should be treated as you would any type of credit card.

Purchases made on an airline credit card help the customer to earn miles that they can then use at this certain airline. When using a credit card that is tied in with an airline you have the security of knowing exactly where you can use the miles. With other non-airline credit cards that allow you to earn miles, but are not tied in with a specific airline you may not be able to use the airline of your choice. An airline credit card is more convenient for a traveler who has a particular airline that they always travel with. The fees tend to be higher with these types of cards, but the airline miles benefits help make up for that. In fact, the free air travel you earn could even make an airline credit card a better deal than other types of credits cards. For example, let's say that your fees with airline credit card X are $100 a year and fees with non-airline, non-mile earning credit card B are $50 a year. However, you fly often for business and airline credit card X helped you earn four free tickets this year, saving you $400, then you can clearly see the extra $50 in fees was well spent. Airline credit cards are also more flexible in how they let you use the free miles you have earned. Other non-airline credit cards often have blackout dates and most airline credit cards do not have these. Somebody who travels a lot will benefit the most from an airline credit card.

Airline credit cards are just like any other credit card. They require responsibility in their use and should be chosen carefully. However, for someone who travels often an airline credit card could just end up saving you money. Airline credit cards have advantages that go beyond the typical non-airline credit card.

Morgan Hamilton offers expert advice and great tips regarding all aspects concerning Credit Cards. Get the information you are seeking now by visiting Airline Credit Cards.

Ten Credit Card Tips

Writen by Steven Gillman

There are credit card tips, and then there are credit card secrets. These latter are little known tricks that credit card companies play on you, as well as tricks you can use to get rid of fees and pay off your debt sooner. Here are some of the best credit card tips, tricks and secrets.

1. You can get rid of annual fees. If you have good credit, just call and ask for fee to be removed. This worked on three out of four cards I called on, and I just dumped the other. Of course the threat to do the same with the others is what got the fees dropped.

2. Read the fine print, and pay on time. Be aware that under "universal default" rules, if you are late on one card, your interest rate can be increased on other cards as well. They love to get you with this one.

3. Watch for changing due dates. This is a trick used by some credit card companies to get you to pay late, so they can collect the late fees. They will also be able to raise your rate, and the rate on other cards you may have. Don't assume that your payment due date will always be the same.

4. Use promotional checks with care. Transferring balances to 0 interest promotions can be a good idea, but watch out for those that charge "balance transfer fees." Transferring a balance that you were going to pay off soon anyhow will just cost you more if there is a 3% transfer fee.

5. Try credit unions for cards. Their cards usually have lower rates. My credit union Visa rate hasn't been over 10% in years, and I have zero liability for unauthorized charges.

6. Ask to have the late fee waived. If you've never been late before, some credit card companies will waive a late fee - but only if you ask. Why not try it? All it takes is a phone call.

7. Pay in full every month. Credit cards are for convenience, not for hiding the true cost of things. Don't pay interest - just pay the balance every month.

8. Don't buy the credit card insurance. This typically stops your payments when you are injured or unemployed. It is one of the most over-priced insurances out there, and doesn't eliminate the debt, but just delays it.

9. Avoid credit card security insurance. It pays for unauthorized charges when your card is stolen, but you are only liable for the first $50 if you report the theft in any case, and many cards already have 0 liability.

10. Pay high-interest cards first to reduce credit card debt. If you have $200 monthly to apply to your credit card debt, pay only the minimums only on all cards but the card with the highest interest rate. Put all the rest of the money towards that one. Once that one is paid off, work on the next highest. This is the fastest way to get rid of your credit card debt, and the most important of these credit card tips.

Steve Gillman has been hunting down obscure knowledge and useful secrets for years. Learn more and get a free gift at: The Secret Information Site (http://www.TheSecretInformationSite.com)

Credit Report Repair Services

Writen by Kevin Stith

You see their ads everywhere -- in newspapers, on television and throughout the Internet; and they all say the same thing, they all promise to repair your damaged credit report for a fee. If you know you have bad credit, you may look for services such as these, but beware – these companies cannot deliver on their promises to wipe out your bad credit. After you give them hundreds of dollars, you will find out that nothing has changed, and they will disappear with your money. There are some that are reputable and use legal tactics that are also ethical, but you must be careful.

If the negative information in your credit report is accurate, the only thing that will legally remove that information is time. A consumer-reporting agency can report accurate negative information in your credit report for up to seven years, and a bankruptcy for at least ten years.

If the negative information in your credit report is inaccurate, you may be able to dispute it with the consumer-reporting agency. The law allows you to ask for an investigation of any information in your file. You can do this at no charge to you.

Many states have laws concerning credit repair companies. If you feel that you have been victimized by a credit repair scam, law enforcement officials may be able to help you recover the money you lost. Do not be afraid to contact the consumer affairs office, or your state's Attorney General's office. The laws are in place to help you in these situations.

Credit Report Repair provides detailed information on Credit Report Repair, Credit Report Repair Services, Bad Credit Report Repair, Company Credit Report Repair Services and more. Credit Report Repair is affiliated with Online Credit Reports.

Free Credit Card Offers

Writen by Thomas Morva

The term free credit card offer means you do not have to pay an application fee, or an annual fee to own that card. If you are like most Americans, you have gotten countless number of unsolicited communications from credit card companies offering you pre-approved applications for credit cards with no annual or application fees. Examples of companies that offer this type of card are banks and stores.

A very important thing to remember is that using a credit card is a form of borrowing some money. You are simply extending the full repayment of your purchase over a specified period of time. Even if the card you have applied for is considered a totally free credit card, you will still be charged various interest fees at the end of the month if you are carrying a balance. If your payment is late, you will always be charged late fees that can sometimes double or even triple your payment. So, before you apply for a credit card, you must first read the terms and conditions as it can affect your overall cost of any purchases.

Using common sense when it comes to applying and using credit cards is the smartest thing you can do financially. Just because the credit card is considered a free credit card does not mean it is the best one for you. Before you apply for a credit card, compare it with other cards. Spending a little time and effort may save you a lot of money in the long run.

Credit Card Offers provides detailed information on Credit Card Offers, Best Credit Card Offers, Free Credit Card Offers, Business Credit Card Offers and more. Credit Card Offers is affiliated with Student Credit Card Applications.

Selecting The Most Attractive Credit Cards

Writen by Michael Russell

The credit card has been actively promoted for the last decade and more. Promotions for credit cards have become commonplace all across Asia, from aggressive telemarketing to classy freebies being thrown at the prospective customer.

If you're a user in Asia, here are some tips you can take advantage of to make the most of your credit card experience. If you are not in Asia, perhaps there are some similarities in the use and administration of the cards business that will provide some insights into how to maximize your card usage.

When shopping for a card, there are several things you should look out for; the cost, the interest rate and the rewards, amongst others. The cost of the card refers to the annual fee or membership fee for the use of the card. Membership fees differ depending on the type of card applied for, ranging from the ordinary blue, green or silver cards, to more expensive gold and platinum cards. The difference is that more expensive cards come with more privileges, such as concierge services and priority golf for platinum cards.

In Asia, most banks and card companies give out cards for free for the first year, or even up to three years. If you would like to minimize the costs associated with the usage of a credit card, select one with a longer fee-free period. Otherwise, try out the more expensive cards and feel free to cancel the card after the fee-free period is over.

Interest rates on card unpaid balances do not differ much amongst different cards available today, generally ranging from 18% to 24% per annum. This refers to the interest you will have to pay if you do not pay your outstanding balances in full by the payment due date. Tied in with this is what is referred to as the interest-free period, the time between the purchase date and the date payment is due. For most card companies, the maximum interest free period ranges from 45 to 60 days, so you could buy something in the middle of June and not have to pay for the purchase till the end of July, interest free.

One thing to bear in mind is that if you roll over your balances, that is, if you do not make payments in full, the interest free period will no longer apply to subsequent purchases until the payment is made in full. From the example above, if you did not make full payment at the end of July, even purchases made at the early part of July would accrue interest at the stated rate. So if you're a person who rolls over your balances, it would make sense to pay attention to the payments made and not made, in order to avoid interest payments on new purchases.

Rewards and other benefits. As the cards market grows and saturation rate grows, competition amongst card companies has led to the development of intricate rewards programs with flashy products. In some markets, the cost of the card is tied to the rewards program; in Asia, this is not necessarily the case. In shopping for a card, look out for the rewards to spending ratio, that is, how much does the customer have to spend before being able to redeem a certain gift or voucher. You might also want to select the card, which gives added rewards points at selected merchants, or a card that gives double or triple the points. Being able to redeem shopping vouchers is almost the same as an outright discount on your purchase.

Hot tip. With a quickly saturating market, active promotion of cards comes in the form of telemarketing and road shows. Along with this is the offer of attractive freebies, such as dining vouchers, radios, sports bags and watches. Such offers might only be available at promotion booths or through telemarketers. If you can wait, do not apply for the card directly, but look out for such promotions to obtain your free gift.

With the above information, you are now equipped with the knowledge to make an informed decision about the most attractive card for your needs.

Michael Russell Your independent guide to Credit Cards

Credit Cards Applying Online For A Credit Card

Writen by Michael Russell

Everyone is familiar with the credit card applications we get in the mail every week. While many of these cards say you are pre-approved, you can still wait for several weeks before hearing of a decision on the acceptance of your application. The Internet has changed all that. Applying for a credit card online can mean getting approved in a matter of minutes. What are some things to look for in applying for any new credit card online?

How Is Your Credit?

If you know that your credit is good then you'll have no issues in getting approved for an online credit card. The credit cards with the best terms and rates will always go to the consumers with the best credit. So, it is always a good idea to know what your credit report says about you. Be sure to check your credit report at least twice a year. Another benefit of doing that is to be sure there are no errors on it.

If you haven't reviewed your credit report in some time, then it would be a good idea to do so before applying for a new credit card. Check it out for accuracy and fix anything that needs attention. Keep in mind that by applying for credit cards and getting turned down, will affect your FICO score. This can play a key role in getting future credit offers.

Applying Online

After you know whether or not your credit is good enough to be approved for a new credit card, you're ready to apply online for an immediate approval card. All credit card companies will ask you for the same basic information: name, address, phone, social security number, date of birth, employer, length of employment, gross income, etc.

Before you apply online for your new credit card, read the terms and conditions carefully. Check to make sure there are no surprise fees. All credit card companies will require you to submit your social security number. They do this so they can pull your credit report and determine whether or not you are creditworthy enough to approve you for a new card. One important note to check for; make sure that you are using a secure server when transmitting the information online. It should say SSL 128-bit encryption. This is standard procedure over the Internet today. It will make it virtually impossible for someone to steal your information.

When you enter in all your information and press "send", you will have an approval/disapproval decision in minutes. It will either show up right on computer screen, or be sent to your email address.

After you receive the news of your approval, you can expect your new credit card to arrive in the mail usually within 2 weeks. If you have been turned down for the credit card you applied for, you'll be sent a letter in the mail stating the reasons for your denial. Check over the reason for your denial. It may simply be a mistake, in which you can speak to someone at the credit card company and they can help you get it corrected.

Michael Russell

Your Independent guide to Credit Cards

How To Play The Balance Transfer Game Successfully

Writen by Tim Gorman

Nowadays, it seems all too easy to spend up big on your credit cards, forgetting that at some point it has to be paid back. If you have substantial credit card debt, and are finding it almost impossible to keep up with the payments, then maybe you need to look at saving some money by taking advantage of credit card transfer. Basically, if you transfer the balance of one credit card to another, you can often take advantage of introductory or teaser rates. These are offered a couple of times a year by the major credit card companies. Generally the teaser rate will last for either 3 or 6 months after you receive the card. Depending on the offer, you can pay anywhere from 0% to 9% on the transferred balance. This is great if you're transferring a balance from a high interest card across to the new card. You can save a lot of interest.

One thing to watch out for, though, is that many of the banks will treat a balance transfer the same way as a cash advance. So you need to check and see whether there are any excessive fees involved on the new card. If interest is being charged, find out whether it's from day one, or whether it starts after a set grace period. This can make a big difference if you're planning to make a lump payment fairly soon after transferring the balance. If you shop around, you may be able to find a teaser offer where the transfer charges on balance transfers are waived during the promotion. This can be a big saving.

You've probably heard it before, but it's still very good advice - read the fine print. Make sure you've at least read all the information about balance transfer and possible fees involved. Look for the term 'flat balance transfer' which usually is followed by applicable fees. If you can't find anything relevant on the application information, then make sure you ask!

If there's a grace period, use it. Try and coordinate the balance transfer from your high interest card so that you get the maximum amount of grace period before interest charges begin. This usually means timing the transfer so that it arrives just after your next bill is issued. Depending on the bank's policy, that may stretch your grace period to as many as 60 days. If you're transferring a large amount, that can add up to some big savings. If the credit card you're considering doesn't have a grace period, ask yourself whether this is really an offer you want to accept.

Once you've transferred your balance to the low interest teaser card, you will quickly receive a bill. Make sure you pay before the due date. Obviously you need to meet the minimum payment, but whenever possible you should budget to pay more than that, and preferably a lot more. Credit card companies love it when you just scrape in with the minimum payment, because it means you're probably paying almost nothing off the debt, and so next month they'll charge you the same amount of interest again. It will take you years to pay back the debt that way, and that's only assuming you never use the card to pay for anything else. No wonder credit card companies are so keen to hand out their cards.

As a short-term strategy, transfer your balance to a new credit card can be a big help, but it's never going to be a permanent solution. It can also end up being a very expensive solution, particularly if you don't close the old credit card and you spend up to its maximum again. If you start doing that, you'll find yourself in a much bigger financial mess very quickly, and will wish that you never even thought about transferring the old balance. So play the balance transfer game wisely.

Timothy Gorman is a successful Webmaster and publisher of BestOnlineCreditCardOffers.com. He provides more credit card facts, tips and advice on finding the best low rate credit card online, that you can research in your pajamas on his website.

Personal Credit Reports How To Get Them For Free

Writen by Hartley Pinn

Your personal credit report tells lenders everything they need to know to help them decide whether to lend money or extend credit to you. Do you know what is on your personal credit report?

Are you certain that your personal credit report is accurate? These and other questions must be answered before you apply for credit or take out a loan. Without that information handy, you may end up paying too much for your car loan, mortgage, credit card, and more.

Worse, you could get rejected altogether and for no good reason. Today, you can get your personal credit report at no cost and I am going to show you how to do just that.

The U.S. Free Credit Report Act has proven to be a real blessing for consumers. The U.S. Federal Trade Commission, which is the government agency tasked with helping consumers, has established through this act that you can get copies of your personal credit report at no cost. Through the three major credit reporting bureaus – Experian, Equifax, and Trans Union – you are entitled to receive a copy of you personal credit report annually from each bureau.

These three bureaus have "all the goods" on you so to speak. If you were late with a car payment and that information has been passed on to the credit bureaus, it becomes part of your personal credit report. At the same time, if someone with a name similar to yours went bankrupt, that information could erroneously be put in your report.

Unfortunately, you may not find this information out until after you apply for credit. Sure, you can correct the problem, but it could take weeks to resolve and delay you from getting a loan. That can be a real problem if you need credit now!

Consumer watchdogs are urging everyone to get copies of their personal credit reports annually. Some are suggesting that consumers space their reports out to one ever four months from the three different agencies.

For example, in January you would order one from Experian, in May from Equifax, and in September from Trans Union. Come the following January, you would order a report from Experian and start the process over again.

You really need to see all three credit reports as they are not uniform. One bureau may have one piece of information about you, while another something else. Your goals are to make certain that all the information in your personal credit report is accurate. If not, then you must take action to amend each error.

In addition to your personal credit report, it is recommended that from time to time you also get your FICO score. Your FICO score is the "grade" that creditors use to determine exactly what your loan rate will be.

Your FICO score isn't free, however only a nominal fee of approximately $5 to $7 will be charged should you choose to order it.

Are you ready to find out more about ordering your personal credit reports? If so, visit the FTC site for more information: http://www.ftc.gov/bcp/conline/pubs/credit/freereports.htm. Click on the appropriate link to go to the proper site and order a copy of your personal credit report today!

To get a complementary step-by-step easy to follow credit repair video and instruction manual that will show you how to increase your credit score by 50 to 100 points in 30 days, visit:
http://www.mortgage-leads-generator.com/credit.htm

Please feel free to reprint this article as long as the resource box is left intact and all links are hyperlinked.

Hartley Pinn has recently created the Mortgage Leads Generator Training Course to teach people how to make over $50,000 a month working part-time (10 to 15 hrs per week) as a mortgage loan officer.

Discover The Best Credit Card Rates

Writen by Morgan Hamilton

Are you one of those people that really need a credit card, but you have no clue where to go? Are you interested in getting the best credit card rates available to you? Are you concerned with comparing credit card companies so you can see who actually has the best credit card rates? If you answered yes to any of these, let this be your guide to help you discover the best credit card rates.

There are many ways that you can learn about the rates offered by credit card companies. But the best and easiest way to compare credit card rates is to go online. A particular website you might enjoy is at comparecc.com. This website has very detailed information available on different credit card companies. Here you will find: the names of the credit card, the APR rate, the bonus awards programs offered by the card, what kind of credit you need to get the card, and the annual fee (if there is one).

Now we will go over some of the credit card companies on this website that offers the best credit card rates. The first one is American express. This card offers low introductory credit card rates of about 3.99 percent. After one year, your regular APR rate will be 10.49 percent. You need to have very good credit in order to get this rate, however.

Next, we look at Citi Financial Mastercard. Citi Financial Mastercard offers great credit card rates. If your credit is excellent, you will have a 0 percent APR for the first 12 months! This is also included for balance transfers. After the 12 months is up, your APR rate will go to 9.99 percent. Remember, this is only for those of you with excellent credit.

The last card we will look at is Discover card. Discover card offers varying credit card rates. They do have a 0 percent introductory APR that is offered for a time determined by your credit score. After that, your APR will be 9.99 percent. This low rate is only available for those of you with good credit. Discover also offers a cash back bonus awards program to all of its customers.

For those of you with not such great credit, you can still apply for these cards and others. Just remember that credit card rates for people with bad credit are often much higher than rates for people with good credit. Keep this in mind when you are searching for a credit card.

This is all of the advice you need for help discovering the best credit card rates. Be sure to take your time and to do some research. There are a lot of options out there. With a bit of patience, you are sure to find the best credit card rates available to you!

Morgan Hamilton offers expert advice and great tips regarding all aspects concerning Credit Cards. Get the information you are seeking now by visiting Best Credit Card Rates

Good Credit Is King When Qualifying For Mortgage Programs

Writen by Mark Barnes

If you want to purchase a new home or refinance your current mortgage, be sure to check out the wide array of loan programs available. If you have less than excellent or even poor credit, you can still qualify for a loan. If you have outstanding credit, though, you are in the proverbial driver's seat, when it comes to selecting your loan program. Be sure to find a good mortgage consultant, and carefully explain exactly what you need. Here are just a couple of "outside-the-box" programs that come in handy for some people but require excellent credit ratings.

Stated loan programs are designed for a person whose income or assets fluctuate from month to month and year to year. Not many banks offer stated programs. Many people who need stated programs get turned down by not only banks but by inexperienced mortgage brokers who don't understand the breadth of the programs at their fingertips. So, you may have to enlighten them with your own insight by telling them this is the program you need.

Stated programs are for people who may not qualify for a conventional loan, because they do not meet income requirements a lender has. A prime example is someone who does not show all of her income on a W-2 tax return, for one reason or another. This person may make enough money to cover the mortgage payment, but she can't prove she makes it on paper. Lenders like to see two years of W-2 income. This proves to them that you consistently make enough money to pay back the loan. Now, it's important to note that this is a good credit program, and a lender will want someone with at least A-minus credit for approval. Here is where all that work to maintain your spartan credit record is going to pay off.

What the stated loan requires is all standard documents, except income verification. In other words, the loan officer is going to state your income on the application, and no proof is required. Please note that this program is not intended for someone who works at McDonalds to try to state that he makes $200,000 yearly, so he can get approved for a $400,000 loan. It is intended for people, like salesmen, whose income varies or for businessmen, who work on bonuses, which they may not receive until the next year. As long as the income is reasonable for the profession, no underwriter will ever question it. So, if you needed to make 60,000 yearly for approval, but you only show $54,000 on last year's W-2, your mortgage broker can get you a stated income program, and he will simply write $60,00 on the application. Don't worry, the lender won't ask for pay stubs or tax returns. Your credit rating speaks for itself. In other words, the lender sees that you have an excellent payment history on your other debts, so he is willing to take on a bit more risk.

A stated asset program works the same way, and good credit is required for approval in this program, too. Lenders require cash reserves, in order to cover several months of mortgage payments, in the event something goes wrong after the loan closes, like you lose your job or get hurt. This can be a problem for people who have no savings, stocks, or retirement accounts, which are all acceptable forms of reserves. If you fall into this category, you simply ask for a stated asset loan, and the mortgage broker will state enough assets on your loan application to appease the lender.

This seems fraudulent, you might say. It isn't, as long as you follow the guidelines set forth by the lenders. Remember, they created these programs, so they could loan more money. You'll pay, of course, because the lender will hit you with a premium on your rate, because the loan is more of a risk. So, instead of getting a 6% rate, you might get as high as 6.75%, but at least you'll get your loan.

There are many other loan programs that allow you to borrow more of the equity in the house, let's say up to 95% or even 100%, due to a great credit rating. Some programs allow for an improvement on your interest rate.

It's always important to ask your mortgage broker if there is some kind of incentive because you have A or A+ credit. Most lenders allow the mortgage broker to either give you the break in rate, or they'll give it to the broker in a cash commission. Many unscrupulous brokers will never mention the credit bonus to you, and they'll make up to .25% of the loan amount for themselves.

So, if you had a $200,000 loan, and the lender allowed a .25% interest reduction or commission to the broker, and the broker takes it, instead of giving it to you, that mortgage broker would make $500.00 extra dollars, which would be paid by the lender. Of course, if you had received the .25% better rate, your payment would decrease by about $30.00 each month and $360.00 each year. That's nearly $2,000 if you have the loan for five years that you would lose to a greedy mortgage broker. So, always ask for something, due to your excellent credit.

And always remember, with good credit, you are king. And kings always make the rules. Learn more at www.winningthemortgagegame.com

Mark Barnes is author of the wealth-building system, Winning the Mortgage Game and other investment real estate books. He is also a suspense novelist, and his new novel, The League, will thrill both suspense and sports fans. Learn about Mark's wealth-building system and get his free home loan course at http://www.winningthemortgagegame.com. Learn more about The League and read an excerpt at http://www.sportsnovels.com

Credit Cards Can You Handle The Responsibility

Writen by Margaret Ntifo

What often comes to mind when you hear the phrase, "Don't leave home without it" is the old American Express advert that many of us can still remember.

Today, many people would not leave home without a number of things: their mobile phone, business card, or credit card! Your mobile phone allows you to stay in touch with people; Your business card tells the world who you are, or rather who you think you are! Your credit card can pay for both mobile phone and business card!

So why do many think of credit cards as such bad things?

Credit cards are one of those things that you either love or hate, but in themselves they are neither good nor bad. Credit cards are simply tools, a modern day invention, a little plastic card bearing an account number assigned to the cardholder that can be used to purchase goods and services on credit. It simply indicates that the cardholder has been granted a line of credit. These days they are even accepted as evidence of the holders' identity.

Like any tool, it's how they're managed that determines whether they end up hurting, or helping you. When used properly they can flexible, convenient and extremely useful!

Their main advantages are:

· They are a safer alternative to carrying cash.

· When used responsibly, you build a good credit history and

· They can be helpful during emergencies.

On the other side of the coin, it's very tempting to whip out a piece of plastic at a moments notice, which makes them rather dangerous for some people. …And, because they don't feel like money, there is a tendency to over-spend. Sadly, about 60% of cardholders carry over monthly balances, which can lead into debt.

So using credit cards comes with a responsibility that as individuals you have to decide whether you can or cannot handle! Much depends on the holders' knowledge and understanding of financial issues, financial acumen and tolerance of perceived risk.

What I find exciting is that credit cards companies have been falling over themselves to give out free money in their lust to compete with each other and get a bigger slice of the market. So with a decent credit history, it's unnecessary to pay them any interest especially when many card companies are willing to lend to new customers at 0%. Some major providers will even pay the money directly into a bank account.

It's hardly surprising that a lot of people who've paid interest in the past have decided it's about time they used this money to their advantage! In many cases, these consumers have been able to use their credit worthiness to position themselves much more advantageously without needing to spend more money from their own coffers. Many people have admitted to buying their first property using money from credit cards.

As consumers, it can be beneficial to extend our thinking to accept the advantages of managed debt, despite the disadvantages of consumer debt. Instead of rushing out to buy the latest fad or hi-tech gadget using your credit card, wait: Could you use it more advantageously?

Anyone choosing to play the credit card game should educate himself or herself beforehand. It requires some level of discipline. Following are important hints one needs to know about credit cards to play the game successfully.

1. Be disciplined, not forgetful or inattentive.

2. Note the expiry date of 0% "introductory offer".

3. Set up direct debit for minimum monthly repayments

4. Never, ever spend on a card after balance transfer

5. Payment protection insurance not needed

6. No cash withdrawals!

Better still, what can you do with the money when you have it? Find yourself a good wealth coach to help you devise a workable solid financial plan. That's a millionaire habit.

All said and done, if you had to choose between your mobile phone, your business card and your credit card, what would your answer be?

Copyright 2006 Margaret Ntifo Margaret Ntifo is a Wealth & Prosperity Coach, a Speaker and author of 'The Money, Wealth and Prosperity' E-Program and 'The Dairy of an African Princess…' Margaret specialises in helping clients design & create compelling lives & businesses to love. Further information visit: http://www.MargaretNtifo.com/ Or subscribe to her free 7-Day e-course at: http://www.moneywealthandprosperity.com/mini_course.html You may distribute this article in its entirety providing this copyright notice and full information about contacting the author are attached.

Chase Announces Two New Business Credit Cards Should You Get One

Writen by Ed Vegliante

Chase recently announced the release of two new credit cards for the business community. The Chase Platinum Business Card and the Chase Business Rebate Card are now available, giving business people more options and a better deal than what they can get through ordinary business cards. Are these cards worth getting? More importantly, do they offer to your business a reason to switch? Let's examine the new cards and what they have to offer to you, the business person.

There are business credit cards that adequately meet most business owners' needs while there are other cards that really stand out. The two new credit card offerings from Chase are a pair of stand out performers.

Quarterly Management Reports

To help busy card holders, Chase's two new cards share a common feature: they offer quarterly management reports for free. This is especially helpful when you consider that businesses must account for how their money is spent when it comes to tax time. By utilizing the management reporting feature, businesses can readily document important tax deductions. No worrying that something has been overlooked; the reports do the tracking for you. Less work for your busy accountants too!

0% Intro APR

Both the Chase Platinum Business Card and the Chase Business Rebate Card offer a fixed 0% APR for the first twelve billing cycles. This feature is especially helpful to the business needing the convenience of a credit card without worrying about paying off a large balance every month. New business owners are attracted to such a feature as the 0% introductory APR can relieve some of the pressure of financing a new entity.

Big Credit Lines

One of the toughest parts of starting a new business is securing an affordable line of credit. Your bank may offer terms, but those double digit rates can be a real turn off, especially if your cash flow is limited. The Chase Business Card and the Chase Platinum Business Card solve this problem by offering huge credit lines up to $35,000. You can save hundreds if not thousands of dollars in interest payments for the first year if you elect to go with a Chase card vs. the typical bank loan.

Important Ingredients

Both Chase cards offer no annual fee and have important balance transfer offers.

Distinguishing Features

As much as the two new cards have similarities to them, they each have a distinguishing feature. With the Chase Platinum Business Card you get additional benefits including $1 million dollar travel insurance, $3,000 lost luggage insurance, and more. With the Chase Business Rebate Card you can get as much as 3% cash back on select purchases. When you take a client out to eat, purchase supplies at the office or building supply stores, or fuel up your car, Chase rewards kick in when you use your card. For all other purchases the rewards rate is 1%.

Of course, the biggest decision for you is which card to select. Both cards come equipped with many useful features and are certain to attract customers who need a business card that works so well for them. Compare the offers and select the one that meets your needs and start benefiting from your new Chase business card today!

Click here to view Chase Business Credit Cards. Ed Vegliante runs http://www.credit-card-surplus.com, a directory of credit card offers.

Understanding College Credit Cards

Writen by Robert Alan

Today credit cards are everywhere you look and even college students are great candidates for owning their own college credit cards. Many students are now living on their own or in dorms and need to learn to maintain their own expenses making college credit cards a necessity for many students.

College credit cards are basically just like regular credit cards. However, since college students do not have any type of credit history, they are usually unable to apply for and receive a regular credit card.

However, the question remains, why would a credit card company be willing to give college students credit cards if they have no way of paying back the money they charge on their college credit card?

Well, there are two very good reasons. Most credit card companies that offer college credit cards see a large opportunity in college student population. In fact, the majority of college students stay loyal to their credit card company even after they graduate from college.

It has also been reported that many college students will, in fact, pay on time and give the companies workable income. With the proper use of credit cards, college students can ensure they have good credit when the time comes for them to purchase a new car or new home.

College credit cards are usually preferred by most parents. They know their children may have the chance to overspend but they also know that with their own college credit card they will be building a stable financial future and receive other benefits that regular credit cards do not offer.

College students can use their cards to pay tuition fees. Some college credit cards even offer many unique benefits such as rewards if they pay their balances in a timely manner.

Most college credit cards also offer students lower interest rates as long as the college student maintains good grades. The use of credit can teach the importance of how to create and live on a budget and is great for parents that cannot afford to finance or manage all of their college student's spending.

College student credit cards can also be set up by parents as pre-paid accounts; this way if the college student needs a little extra money, parents can always add to the credit card but ensure they use the credit card wisely and do not overspend.

The ultimate goal with college credit cards should be for students to learn how to use credit cards responsibly and to learn what they charge on their card is their responsibility.

For more discussion about understanding college credit cards, Robert Alan recommends that you visit CreditCardAssist.com

Home Equity Line Of Credithow To Avoid Five Traps And Give A Look To An Opportunity

Writen by Mark Tern

If you need money and you are a home owner, a home equity line of credit (also known as "HELOC") could help you solve your problem. With this, you can borrow money against the equity in your home, i.e. the difference between your home value and your current mortgage debt.

As you are taking money against your home, asking for a home equity line of credit is a serious task; you must sure you are going to get a type of service which is fitting exactly with your needs.

Here are a list of five points that you have to care about if you want avoiding some nasty effects:

1) Cost of the application process

Some lenders offer home equity line of credits with a large one time fee. Others don't mention it but continue to add "underground" costs. Ask your lender clear informations of this and an explanations of the items in the legal documents about costs.

2) Low starting interest rate

Sometimes you could benefit of a low starting interest rate. This is for certain an attractive option, however you are warned to check how the rates are going to become just after the initial period. Usually they become much higher.

How you can check it? Simply check the contract details, find exactly what is the financial base rate yours will be based to, ask where you can check it (usually the base rates are published on newspapers), and ask for projections of the base rate value for your home equity line of credit expected lending period. It's advisable also you ask for a second opinion to one of your preferred bank competitors.

3) Variable interest rates

Home equity lines of credit with variable interest rates computes the actual interests to be paid on a base rate defined in the contract you are signing. Usually this will be the interest rate set by the Federal Reserve Board.

As the interest rate varies, you can't predict exactly what you are going to give back in your next payment. This isn't necessarily a bad thing; however it could explode if you are not careful. Why? Give a look at the next two points.

4) Beware of balloon payments

Sometimes home equity line of credit lead to a so called "balloon payment", i.e. a big payment to be give back by the borrower after an initial credit period is expired. This could put you in serious trouble

5) Beware of too high payments

Sometimes there is no balloon payment danger, but you have to pay each and every month a substantial payment. This could constraint you too much if your financial status requires more flexibility. Again, check how things are with your lender, and read carefully your contract. Clear what is the minimum payment you have to give back each month, so you can evaluate if it's sustainable by you.

Consider the alternatives to the home equity line of credit

This has always to be done, especially if the previous points and, most important, fuzzy answers from the lenders make things for you much harder. For example you could ask for a credit line that doesn't have your home as collateral; you could resort to your business or other properties you have; or you could opt for an income based loan.

If your only chance is to exploit your home equity but can't stand for the traps of home equity line of credit, then you could go for a home equity loan. It's less flexible but could be a lot safer for you.

To get started the proper way, get the Home Equity Loans Special Report you can find for free at http://home-equity-loans.thesolution2.com

Mark Tern is the author of the Home Equity Loans Report you can get for free at his Home Equity Loans Website where you can see the difference between a home equity line of credit and a home equity loan and learn how to choose the safest. Check also his Home Equity Loans Blog.

Can Credit Search Entries Affect Your Ability To Get Approved For A New Loan In The Uk

Writen by Jack Miles

About Search Entries:

Every time a lender checks your credit history from your credit file (i.e. each time you apply for a loan), your credit-file will have a record of this. These records are known as search entries. The search entries do not generally say whether you were approved or denied credit, but they do reveal the name of the lender(s) processing previous applications. Lenders automatically impart this information back the credit bureaus and see it as an important tool.

As you can imagine, with this information other lenders can see if you have been applying for many, many loans. The lender dealing with your current application would expect to see a few search entries, but if there are more than, say, 20 in a few months he will be very wary, and may reject your application. (Of course he will be adding one more entry to your credit-file himself in the process!).The original reason for a credit search entry being inserted into credit files was to check for fraud, but lenders have since found much value in watching the habits of consumers applying for credit.

There is no specific number of searches that would cause an application to be turned down flat, but as above, too many unrelated credit searches on your credit file will certainly not be helpful in your quest to get approved for credit.

Limiting credit search entries:

Try to limit search entries by only applying for 1 or 2 loans a month. If you see duplicate searches appearing on your credit file for the same loan, these should be removed. Write to the credit agencies to ensure they are. All searches should expire after 2 years, so check that they are deleted after this time and if not you can insist this is done too.

Once your credit file contains a minimal number of credit search entries then you can be sure that you have the best chance for getting approved for your next loan.

Jack Miles, Author of "The Complete U.K. Credit Repair Guide", produced the guide to help people restore a poor credit rating and enjoy the benefits of good credit. The guide shows subscribers step by step how to repair bad credit history, how loan application forms are scored, how to remove court judgments (CCJ's) and also how to best fill apply for loans to gain the best chance of approval.

For more information please visit The Complete UK Credit Repair Guide at http://www.creditsecrets.co.uk

This article is Copyright 2005 Jack Miles.

Reprint Rights: This article may be reprinted only in full (unedited), and complete with author's name and active links. All other rights reserved.

Low Rate Credit Cards Choosing The Best Card

Writen by Robert Alan

Teaser rates offered on low rate credit cards are a boon to customers. Low APR credit cards are an ideal choice for customers who carry a steady monthly balance. With so many options, finding the right low APR credit card suited to your lifestyle could be a challenge. Yet, it is worth the effort because, over the years, the cost of carrying a balance at a high interest rate could outweigh the other benefits associated with the card.

Shopping for a low APR credit card implies comparing credit offers not just on the interest rate offered but also on various other parameters. Most of these low rate credit cards require you to have a good or excellent credit rating to qualify for their lowest rate. However, a decent credit rating will fetch the card at a slightly higher rate.

The best way to start shopping for a new low APR credit card is to compare costs, terms, and conditions with the cards you already possess. Before switching to another low rate credit card, you should ask your current card company to lower the existing APR. If that is not possible, then choose a card that would fit best with your spending and repayment habits.

Factors to Consider while choosing the Low APR Credit Card:

1) Different rates for different services offered on the same card – low APR credit cards may have differential interest rates for the variety of services offered on the card. For example, the interest rate for cash advances could be 20% but the interest rate for purchases could be 9% and balance transfers could be at 0%! It is important to determine the primary use of the card and then decide on the card that offers the lowest rate for the service that you need.

2) Variable versus Fixed Rate – The interest offered on low APR credit cards could be variable or fixed. Fixed rates tend to be low and are advisable for customers who carry a steady balance. A small change in the APR rate could make a big difference if you carry a balance on a card month on month.

3) Differential Rates for Different Balances on the Same Card – Certain low APR credit cards offer very low interest rate on certain balance amount and charge hefty interest if you cross that range. An interest rate of 9% could be applied on a balance of $500 but if your balance goes to $900, the rate might increase to 15%, for example

4) Low Interest for a Pre-Determined Time – The low interest offered could be an introductory offer or for a limited time period. This is risky, as you may have to pay heavy interest charges if you carry a substantial balance at the end of the said period.

5) Cash Back Options – Many low APR credit cards offer a certain percentage as cash back to you depending on the purchase type. The cash back percentage may be 1% or 5% and could be available on a wide variety of purchase items.

6) Balance Transfers – If you have multiple credit cards and need to consolidate, low rate credit cards offer a good option. Certain cards allow 0% APR on balance transfers with no transfer fees. Since this could greatly help in reducing debt and substantial savings in interest, it is worthwhile to evaluate the different interest rates offered.

7) Air Miles or Frequent Flyer Miles – Some low APR credit cards offer conversion of accumulated reward points to air miles to encourage customer spending. It is not a bad idea to benefit both from the low interest APR along with free air miles.

8) Grace Period (Interest Free Period) - Many low rate credit cards charge interest from day one of your purchases. However, certain cards may give a grace period and not charge interest if you repay the balance in full each month by the due date.

9) Fees – Most low rate credit cards will offer reduced or even no annual fees. Choose the one that does not add to your debt burden by charging hefty annual fees.

If you consider applying for low rate credit cards, there are a variety of websites online that offer comparisons of various low APR credit cards available in the market, and can be tremendously helpful in your search for low rate credit cards.

For more information on low rate credit cards, Robert Alan recommends that you visit CreditCardAssist.com

How To Avoid Credit Card Penalties

Writen by Peter Kenny

It is a sad fact of life that credit card companies are very willing and fast to slap a penalty charge on your account for every mistake, delay and slip up you cause, immediately and without a second thought. These penalty charges can amount to millions of dollars taken from consumers each month. They are a necessary part of all credit card operations and are fair in the sense that it means that customers who do everything correctly and on time are not penalised for the extra work and expense that other customers cause, but what you will want to do is make sure you are not one of the unlucky customers that is paying for these extra expenses.

The best way to avoid these penalties is to look at the entire situation from the point of view of the credit card company. Really, all they want from you is to keep your card safe, to stay within your credit limit, and to make at least your minimum payment, on time every month. If you manage to do these simple tasks you will avoid ever incurring a penalty on your account.

The problem is that it is very easy to slip up on these things. It's not easy at all to keep track of your outstanding balance, especially as we use credit cards for more and more things and companies begin placing holds and other such transactions on customers accounts without them necessarily knowing or understanding about them. Then there is the fact that it is very easy to forget or become late on a payment. Every one has busy periods in their life and sometimes we simply have other more important things on our minds than paying our credit card bill on time. Some people are less organised than others and for them it can be very difficult making sure all their credit cards are paid out in full and on time.

If your card is lost or stolen without any fault on your part, and you call your credit card company as soon as you find out, you will only be liable for a maximum of $50 dollars. And if you manage to let the credit card company know before any thing has been spend on your stolen card you will not be liable for any thing. This is also the rule that applies for identity theft and fraud so you can feel safe using your credit card online. Taking a few simple steps can mean you are virtually never subjected to credit card penalties.

Peter Kenny is a writer for creditcards-gb.co.uk. For additional articles and an extensive resource for everything about credit cards, please visit us at http://www.creditcards-gb.co.uk and http://www.creditcards2go4.com For credit card advice please visit here http://www.creditcards-gb.co.uk/creditcardadvice.html

Details Of The Union Plus Credit Card Application

Writen by Joshua Shapiro

The Union Plus credit card is issued by HSBC Bank Nevada, N.A. and is specifically designed for cardholders with an average or limited credit who are members of one of the AFL-CIO Unions. Non-union members are not eligible to apply for this card. Because this card is designed for union members, it carries some union-specific benefits. One of these is strike payment protection that allows members to skip payments for up to three consecutive months during a union-sanctioned strike or lockout that lasts thirty days or longer. There are also member advocacy programs that help members resolve disputes and handle concerns that are related to any of the union privilege programs.

The card has no annual fee and has an introductory rate of 8.99% variable on balance transfers and is good until the loans are paid when submitted during the first three months of membership. There is a fixed rate of 19.99% on cash advances, and a minimum on purchases that is based on the cardholder's credit history. This amount can range from 9.99% up to 18.99%. The card is assessed a 3% cash advance fee with a $5 minimum. The balance transfer fee is also 3% with a $5 minimum but does not apply during for balance transfers during the introductory period.

Those who will benefit the most from the Union Plus Credit Card are those union members who qualify for the lowest rate offered and who are able to pay the balance in full each month. In addition, those with very good credit will be considered for the gold and platinum cards, which offer additional benefits and may offer a lower interest rate as well.

Some of the benefits you can expect to receive with the Union Plus MasterCard include the following:

• Online access to account information

• Skip payment options

• Strike payment protection

• No liability to cardholder for unauthorized transactions

• Fraud protection services

• Union member advocacy program

• Eligibility for the Union Plus Scholarship Program

• Travel accident insurance up to $100,000

For more information or to obtain the Union Plus Credit Card application, Joshua Shapiro recommends Find Credit Cards.

Mortgage Loan Understanding Fico Scores

Writen by Sergio Haros

Apply for a mortgage loan and you'll soon become familiar with FICO scores. Here's a primer on the infamous FICO scoring process.

FICO scores are merely a mathematical representation of your credit record. Credit records are simply a recording of your debts and assets. Credit card balances, for instance, are a debt that appears on your credit record, as do late payments, bounced checks and so on. Credit, of course, is a huge consideration in the mortgage loan process.

A "credit score" is a figure that represents an overall valuation of how you handle credit and the risk level associated with giving you more credit, to wit, a mortgage loan. The loan underwriter will review your credit report for items such as payment history on debts, debt balances and types of credit you already have. A summary of this information is represented by a figure known as you "FICO score."

FICO

You may be surprised to learn that "FICO" doesn't stand for any credit-related terms. Instead, it stands for Fair, Isaac and Company. This company developed the mathematical formula that produces the much loved or hated FICO scores. The FICO score assigned to you determines whether you love or hate the formula.

FICO scores come in a range of three digit numbers. The lowest FICO score you can get is 350. The highest FICO score is 850, a score for which bankers will bow at your feet. The higher your score, the better your credit situation and the more likely a bank is to provide you with a mortgage loan.

Most people do not have perfect credit. To this end, we find most people have FICO scores ranging from the low 600s to the high 700s. Mortgage applications typically are not rejected because of a few late payments.

If you're considering purchasing a house, you should always try to pre-qualify for a mortgage loan. Getting a reading of your FICO score should be one of the first steps.

Sergio Haros is with Great Western Mortgage - San Diego Mortgage Brokers - providing San Diego home loans. Great Western Mortgage is a San Diego mortgage company writing San Diego mortgages and San Diego refinance and home equity loan.

Is Your Credit Score Being Held Against You

Writen by Cornelius Crumpacker

Credit Scores That Hurt

Is your credit score being held against you?

More and more the staples of life depend on your credit score. Your mortgage, insurance premiums, employment opportunities and even your landlord may be using your credit score to determine your financial future.

In some cases even the utility companies are basing the size of your deposit on your credit score. Landlords are determining your reliability as a tenant. Insurance companies are setting the size of your premiums based on your credit score. Many more employers are also using your score to determine your reliability.

According to a 2004 survey by the U.S. Public Interest Research Group, 25% of credit reports which list your credit and borrowing activities, had errors serious enough to to cause a consumer to be turned down for a loan or job.

To counteract the erronius information on your credit score you should review your FICO scores at least once a year, or several months before applying for a loan. Check for negative info, errors or any suspicious activity that may suggest identity theft. The best place to check is myfico.com. The three major credit bureaus will also sell you your credit reports, but they're not as reliable because none of them provide your FICO scores with your credit report.

The best strategy to stay on top of your credit information is to pay the extra money to get your FICO scores. Also apply for your free credit report from one of the three credit bureaus every few months. Moniter any new activity.

Cornelius P Crumpacker
101 ways to improve your credit score
http://www.usacreditinfo.com

Using Secured Credit Cards To Establish The Best Credit History

Writen by James H. Puckett

Credit cards are used by a lot of people today. Besides, with a credit card, you can purchase the items you need in your everyday life without the need to carry any money at all. The bank will be the one to pay for your purchases but you will also be required to pay it back in a monthly basis. The bank will send you the billing statement that will contain all the billing information, such as the items or services you purchased and also the interest.

However, most banks will require you to have a good credit rating first. A credit rating is important. It will determine if you can get a mortgage or in this case, a credit card. Without a credit rating, you will find it hard to apply for a credit card.

A credit rating will contain all the necessary information that the bank will need whether they can issue you a credit card or not. It will contain information, such as if you recently applied for credit, how long you had the credit, what type of credit you have (loans, mortgage, credit cards), how much you owe, and also your payment history.

A good credit rating will get you the exact credit card you need.

However, if you don't have a credit rating, you will really find it hard to apply for a regular credit card but it doesn't mean that you can't apply for one. There is one way that can help you establish a credit rating and at the same time, get a credit card. This is called a secured credit card. This particular credit card is great for people who are looking for a way to establish a credit history or to repair their credit rating.

Getting a secured credit card is one of the best ways to establish a credit history. So, you may now ask what the difference between a regular credit card and a secured credit card. A secured credit card uses the money you deposit in the account. This card will also have a balance limit that will not be more than the amount you deposited in the account.

Once you deposited an amount on the credit card, you can now use the credit card at once. With this kind of feature, it can be both beneficial to the lender and the borrower. Not only that this will establish a good credit history for the borrower, but it will also minimize the risk of overusing the credit card because he or she is only limited to spend the amount they deposit.

For the lender, a secured credit card will minimize the risk of not being paid back by the borrower. The secured credit cards also doesn't have an annual fee that you have to pay for.

Establishing a good credit history will start once you start using your secured credit card. Also, you can use the secured credit card for as long as you want. In time, as you build your credit rating, you can now apply for regular or unsecured credit cards.

The main drawback on secured credit cards is that it will usually have a higher interest rate than most unsecured credit cards.

Secured credit cards are great for people who are just starting out on establishing a good credit history. However, you should always make sure that you can afford to pay for the monthly bill in order to establish a good credit rating. Unsecured credit cards require you to be responsible, if you think that you are not responsible enough in terms of spending, you shouldn't apply for an unsecured credit card yet.

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.

Credit Cards Why Prepay

Writen by Gunnar Berglund

With prepaid credit cards, you get the practicality of plastic while choosing exactly how much debt to charge. By taking charge of your personal financing, you determine your own limits, to the penny, and change them any time you need to.

There are many prepaid credit cards on the market these days, sometimes also labeled pre-funded. They're all reloadable, functioning like a prepaid card for the telephone, and they offer the gigantic benefits of no credit check and no annual interest fees.

Easy to get online or in a store near you, these prepaid credit cards are the wave of the future cashless society. You simply use your own money to buy stuff. That way you're not borrowing from anyone; you're just using plastic instead of cash. And there's no way to get into debt with them...when you run the limit you set, they run out, so you can't overspend even if you want to.

Use your prepaid credit cards almost any place where MasterCard or Visa cards are accepted, without racking up any interest charges whatsoever.

Got kids? A prepaid credit card makes a great instructional tool and present. Buy them one for an initial setup fee (usually from $5-50), and let them pay the smaller fee to renew it when it runs out. Explain that if they let it lapse they have to start all over again with a much larger fee than if they simply renewed in a timely manner. Suddenly, your kids become financially responsible!

Pre-funded cards are not a bad way to keep your own finances in line either. Just come up with the initial scratch and you're on your way to enjoying the ease and flexibility of plastic again!

© Gunnar Berglund
Gunnar Berglund has been working on the Internet for about five years and runs http://www.global-prepaid-cards.com since September 2003

How To Establish Great Credit

Writen by Alex Fir

Building a good credit history is important. If you have no reported credit history, it may take time to establish your first credit account. This problem affects young people just beginning careers as well as older people who have never used credit. It also affects divorced or widowed women who shared credit accounts that were reported only in the husband's name.

If you do not know what is in your credit file, check with your local credit bureaus. Most cities have two or three credit bureaus, which are listed under "Credit" or "Credit Reporting Agencies" in the Yellow Pages. For a small fee, they will tell you what information is in your file and may give you a copy of your credit report.

If you have had credit before under a different name or in a different location and it is not reported in your file, ask the credit bureau to include it. If you shared accounts with a former spouse, ask the credit bureau to list these accounts under your name as well. Although credit bureaus are not required to add new accounts to your file, many will do so for a small fee. Finally, if you presently share in the use of a credit account with your spouse, ask the creditor to report it under both names.

Creditors are not required to report any account history information to credit bureaus. If a creditor does report on an account, however, and if both spouses are permitted to use the account or are contractually liable for its repayment, under the Equal Credit Opportunity Act you can require the creditor to report the information under both names. When contacting your creditor or credit bureau, do so in writing and include relevant information, such as account numbers, to help speed the process. As with all important business communications, keep a copy of what you send.

If you do not have a credit history, you should begin to build one. If you have a steady income and have lived in the same area for at least a year, try applying for credit with a local business, such as a department store. Or you might borrow a small amount from your credit union or the bank where you have checking and savings accounts.

A local bank or department store may approve your credit application even if you do not meet the standards of larger creditors. Before you apply for credit, ask whether the creditor reports credit history information to credit bureaus serving your area. Most creditors do, but some do not. If possible, you should try to get credit that will be reported. This builds your credit history.

If you are rejected for credit, find out why. There may be reasons other than lack of credit history. Your income may not meet the creditor's minimum requirement or you may not have worked at your current job long enough. Time may resolve such problems. You could wait for a salary increase and then reapply, or simply apply to a different creditor. However, it's best to wait at least 6 months before making each new application. Credit bureaus record each inquiry about you. Some creditors may deny your application, if they think you are trying to open too many new accounts too quickly.

If you still cannot get credit, you may wish to ask a person with an established credit history to act as your co-signer. Because a co-signer promises to pay if you don't, this can substantially improve your chances of getting credit. Once you have repaid the debt, try again to get credit on your own.

Do you need business or finance information? Visit Business Finance Information, FREE web site for those who want to learn how to achieve success in business and finance.