Author: Kim Stevens
Source: articleage.com
Are you a student pursuing a certain course in college? How do you pay for your college expenses? Surely you might be buying gifts for your loved ones or gifting your friends on their birthdays or other occasions. Also one needs to buy other commodities like T-shirts, books, and shoes from stores. Student credit cards can prove to be a boon for high school as well as college going students. There are many good reasons to have a credit card for college students simply for the benefits that they, searscard.com, offer.
Benefits of Credit Cards for College Students
Credit cards do away with carrying a lot of money in your wallet, give insurance against purchases, allow you to shop online, and they also prove to be a sort of cushion in case of any emergencies. There are a few companies offering credit cards specially custom-made for college students. Most of the companies have their kiosks and stalls at college campuses advertising their products, searscard.com, and providing card details to the students.
Credit cards help build a credit history for students. After graduation, a good credit history can help finance expenses for buying a new apartment or a new car. This is because, searscard.com, companies often look at the summary of the credit report before allotting loans for a house or a car. Hence a good credit history can make availing a loan relatively easier. One, searscard, searscard.com, .com, should have a clean credit report in order to get the loans sanctioned. If the credit, searscard.com, report contains a lot of unpaid bill summaries then it becomes difficult to avail a good loan and other, searscard.com, associated benefits.
Disadvantages of a Student Credit Card
However credit cards also have their disadvantages, searscard.com, . They carry high finance charges for unpaid bills at the end of the month. These finance charges, searscard.com, can be as high as 20%. Also, there are yearly membership fees which range anywhere between $25 and $100. In addition, not paying expenses on time can lead to very high interest rates.
Hence it is better to buy a credit card for college students only if one has the capability to pay all the finance charges and the bill amount on time. Not paying finance charges and the unpaid bill amounts on time can lead to suspension of services and the student can get a bad credit report.
Tips for Selecting Student Credit Cards
You need to be aware of some basic rules for buying a college student credit card.
-First, read all, searscard.com, the conditions carefully before signing on the dotted line.
-Get answers about how much interest rate the card carries as well as the interest rate for cash advances.
-Study the penalties or interest rates to be paid if the bills are not paid on time.
-It is also better to use a debit card instead of a credit card. This is because with a debit card, the amount is deducted from the account where funds are already deposited from the beginning. Hence subscribing to a debit card ensures, searscard.com, that you can't spend more, searscard.com, than the money you have in your account.
-You should use a credit, searscard.com, card only, searscard.com, if you are certain,, searscard.com, searscard.com, that you will be, searscard.com, able to pay the debts on time. As far as possible, cash should be used for buying items. One should use a credit, searscard.com, card only for emergency purchases.
-It is better to get only one card from a company after comparing the services provided by all companies. Do not get two or three credits cards from different companies, searscard.com, as it leads to a lot of hassles like remembering, searscard.com, the due dates for paying bills, extravagant expenses, etc.
Hence, as mentioned before, students should buy credit cards only if they have the capacity to pay all bills on time and also exercise control on their spending habits. Student credit cards help teach teens, searscard.com, how to handle credit. Also, credit cards for college students allow them to build a good credit history if a student credit card is used, searscard.com, in moderation.
For more information on how to differentiate between credit cards for college students, Kim Stevens recommends that you visit CreditCardAssist.com.
Tuesday, December 8, 2009
Monday, December 7, 2009
Credit Card Types And How To Know The Best For You
Author: Mario Churchill -
Source: articledashboard.com
Choosing the right credit card is a decision that's more important and difficult to make than most people think. With the right credit card, you'll be able to maximize your card benefits without getting into debt.
Credit, searscard.com, Card Types - Which One Suits You Best?
Low Interest Credit Card - If you're interested in having a credit, searscard.com, card only so you can pay for emergency expenses when you run out of cash, this is the best type of card for you.
Reward Credit Card - Every time you swipe your credit card, you get to enjoy an equivalent number of points depending on how much you've spent. The, searscard.com, points you've accumulated can later be on exchanged for various prizes.
Airline Miles Credit Card - This is a type of reward credit card that offers only airline miles as rewards. When you use this credit card to purchase your plane fare, you'll be able to enjoy reward miles. Later on, you'll be, searscard.com, able to use them and get discounted plane fare or fly for free even! The same rule applies for gas, searscard.com, credit cards.
Student Credit Card - Credit card companies have lately been designing credit, searscard.com, card offers exclusively for students. Although accompanied,, searscard.com, searscard.com, with higher interest rates, these cards often have funky designs and offer special reward programs developed primarily to provide maximum enjoyment for students. Proof of schooling is often required, searscard.com, . It helps if you're enrolled in an accredited school and you've got great grades.
Secured Credit Card - If you've got bad credit, there's still, searscard.com, a chance for you to own, searscard.com, a credit card…but only if you're okay with having a secured one. This type of credit card requires you to make a deposit on your bank account and serves as collateral in the event that you fail to pay off your credit card debt, searscard.com, . Your credit card limit may equal or be more than the amount you've deposited.
Prepaid Credit Card - This isn't a, searscard.com, credit card per se, but it generally works like one. The limit, searscard.com, of this card will depend on how much you've deposited in its account. You can't spend more than what you've deposited. Its main difference with a secured credit card is that secured credit cards can have greater card limits beyond the value of its deposit.
Business Credit Card, searscard.com, - This works just like any other conventional credit card only with a few additional perks that make it extremely suitable for business use. A business credit card can automatically separate personal expenses from business expenditures,, searscard.com, facilitating monthly tallies for your taxes. It can also provide expense reports for your business, special rewards for your business, and allow you to provide supplementary cards for your employees. You can also choose to modify the credit limit of your employees if necessary.
Home-Secured Credit Card - This works like a secured credit card, but only this time you're using your home as collateral. If you don't get to pay off your credit card debt,, searscard.com, you know what will happen to your home, don't you?
Charity Credit Card - Think of it as shopping for a cause. Every time you purchase something using, searscard.com, your credit card, a small amount of your money will be donated to the charity being sponsored by the credit card company. This is a great way to salve your conscience if you feel guilty about your materialistic tendencies.
Source: articledashboard.com
Choosing the right credit card is a decision that's more important and difficult to make than most people think. With the right credit card, you'll be able to maximize your card benefits without getting into debt.
Credit, searscard.com, Card Types - Which One Suits You Best?
Low Interest Credit Card - If you're interested in having a credit, searscard.com, card only so you can pay for emergency expenses when you run out of cash, this is the best type of card for you.
Reward Credit Card - Every time you swipe your credit card, you get to enjoy an equivalent number of points depending on how much you've spent. The, searscard.com, points you've accumulated can later be on exchanged for various prizes.
Airline Miles Credit Card - This is a type of reward credit card that offers only airline miles as rewards. When you use this credit card to purchase your plane fare, you'll be able to enjoy reward miles. Later on, you'll be, searscard.com, able to use them and get discounted plane fare or fly for free even! The same rule applies for gas, searscard.com, credit cards.
Student Credit Card - Credit card companies have lately been designing credit, searscard.com, card offers exclusively for students. Although accompanied,, searscard.com, searscard.com, with higher interest rates, these cards often have funky designs and offer special reward programs developed primarily to provide maximum enjoyment for students. Proof of schooling is often required, searscard.com, . It helps if you're enrolled in an accredited school and you've got great grades.
Secured Credit Card - If you've got bad credit, there's still, searscard.com, a chance for you to own, searscard.com, a credit card…but only if you're okay with having a secured one. This type of credit card requires you to make a deposit on your bank account and serves as collateral in the event that you fail to pay off your credit card debt, searscard.com, . Your credit card limit may equal or be more than the amount you've deposited.
Prepaid Credit Card - This isn't a, searscard.com, credit card per se, but it generally works like one. The limit, searscard.com, of this card will depend on how much you've deposited in its account. You can't spend more than what you've deposited. Its main difference with a secured credit card is that secured credit cards can have greater card limits beyond the value of its deposit.
Business Credit Card, searscard.com, - This works just like any other conventional credit card only with a few additional perks that make it extremely suitable for business use. A business credit card can automatically separate personal expenses from business expenditures,, searscard.com, facilitating monthly tallies for your taxes. It can also provide expense reports for your business, special rewards for your business, and allow you to provide supplementary cards for your employees. You can also choose to modify the credit limit of your employees if necessary.
Home-Secured Credit Card - This works like a secured credit card, but only this time you're using your home as collateral. If you don't get to pay off your credit card debt,, searscard.com, you know what will happen to your home, don't you?
Charity Credit Card - Think of it as shopping for a cause. Every time you purchase something using, searscard.com, your credit card, a small amount of your money will be donated to the charity being sponsored by the credit card company. This is a great way to salve your conscience if you feel guilty about your materialistic tendencies.
Sunday, December 6, 2009
Credit Card Horror
Author: Rebecca Game
Source: articleage.com
The availability of credit for anyone, searscard.com, no matter their, searscard.com, credit history has caused many financial problems, searscard.com, for consumers. When credit is available to those with a poor credit history,, searscard.com, interest rates are jacked up, loan terms are hard to meet and the consumer finds that they are in a worse situation, searscard.com, .
The average consumer has about $12,000 in credit available through their credit cards. Over 50% of those consumers only use about 30% of the credit available to them. The other statistics show that, searscard.com, 1 in every 8 are using at least 80% of, searscard, searscard.com, .com, the credit available and 1 in every 10 are in debt at least $10,000. Some credit card companies report that at least 20% of consumers have maxed out credit cards.
There are more Americans in debt now than in the nation's history. Not everyone keeps a budget. Not everyone knows where, searscard.com, their hard earned, searscard.com, dollars go. Not everyone is cost-conscious. According to Businessweek, families owe more on their cars, their homes, and their credit cards, than they they have as a net on their yearly, searscard.com, income.
Even with this alarming information, money lenders, credit card companies, and financial institutions are not deterred.
The credit card companies have, searscard.com, done a thorough market research and then with the demographics in hand they construct their targeted audience with a demographic specific sales pitch or ad.
If you have a good, searscard.com, credit score, (630 or above), you can usually get a line of credit or credit card with an interest rate of 12% to 18% depending on the company. To get a Platinum status card you will most likely need an income of at least $25,000 per year with a low debt to income ratio. For a Gold card status, your income only need be in the $10,000 per year range.
In or around 1990, the credit industry introduced the subprime market. This particular market targeted those with credit scores of less than 500. The other issues that qualified you as a subprime target were little or no credit history,, searscard.com, those who were finishing up a bankruptcy, and those who showed a history of not managing credit to the best, searscard.com, of their, searscard.com, ability. The credit card companies found a way to profit off the consumer who was usually in a desperate situation and was looking, searscard.com, for credit help in the form of a loan or credit card.
Some of the interest rates on these cards were close to, or over, a whopping 30%, while the credit limit remained very low anywhere from $250 to $500. If you were late on a payment that, searscard.com, could also cost you a hefty fee and the credit card companies were making thousands of dollars on these borrowers.
While this looked appealing to the lenders, they soon found out that a large percentage of their customers held true to not paying their bills and they were astonished to find out that more than, searscard.com, 10% of their customers were delinquent. With the industry average, searscard.com, only being 5% delinquent, this was a big cut in their profits. Even though some card issuers went out of business, others pushed the envelope even further.
In 2004 over 1 million credit card holders filed for bankruptcy. This sent a shockwave through the credit industry as a whole and so they lobbied, searscard.com, for stricter laws related to bankruptcy. What's really strange, though, is that while they screamed for bigger punishments, garnishments, and payback terms, they continued and some even increased, their ad campaigns to target this same subprime market.
You, as a consumer, should investigate all options before, searscard.com, signing that dotted line. Have you really read the terms associated with your credit card? Do you have a fixed rate that is within your budget? What are the default fees, the over limit fees, the yearly fees?
Some Solutions:
1. Find a way to put at least $500 into a CD or Savings Account at your local, searscard.com, bank.
2. In a financial emergency, you can borrow against your own CD or savings account with an interest rate of only about 2% to 3%. That's a far cry from a credit card with a $500 limit charging you 28.9%
3. If you don't have the cash, then don't buy it yet!
4. Repair your credit score by paying off all loans, credit cards, installments, on time or before.
5. Set a goal to have your credit score reach at least 630 within one year. Then focus on improving it more through the next couple of years.
6. Have a way, searscard.com, to make extra income devoted solely to paying off your debt. (Babysitting, garage sales, etc)
Rebecca Game is the founder of Digital, searscard.com, Women ฎ, Digital-Women.com, an online community for women in business. She is a 30 year, searscard.com, entrepreneur and dedicated to helping other women find business loans and business grants. Visit her site: Business Grants and Loans for Women
http://www.digital-women.com
Source: articleage.com
The availability of credit for anyone, searscard.com, no matter their, searscard.com, credit history has caused many financial problems, searscard.com, for consumers. When credit is available to those with a poor credit history,, searscard.com, interest rates are jacked up, loan terms are hard to meet and the consumer finds that they are in a worse situation, searscard.com, .
The average consumer has about $12,000 in credit available through their credit cards. Over 50% of those consumers only use about 30% of the credit available to them. The other statistics show that, searscard.com, 1 in every 8 are using at least 80% of, searscard, searscard.com, .com, the credit available and 1 in every 10 are in debt at least $10,000. Some credit card companies report that at least 20% of consumers have maxed out credit cards.
There are more Americans in debt now than in the nation's history. Not everyone keeps a budget. Not everyone knows where, searscard.com, their hard earned, searscard.com, dollars go. Not everyone is cost-conscious. According to Businessweek, families owe more on their cars, their homes, and their credit cards, than they they have as a net on their yearly, searscard.com, income.
Even with this alarming information, money lenders, credit card companies, and financial institutions are not deterred.
The credit card companies have, searscard.com, done a thorough market research and then with the demographics in hand they construct their targeted audience with a demographic specific sales pitch or ad.
If you have a good, searscard.com, credit score, (630 or above), you can usually get a line of credit or credit card with an interest rate of 12% to 18% depending on the company. To get a Platinum status card you will most likely need an income of at least $25,000 per year with a low debt to income ratio. For a Gold card status, your income only need be in the $10,000 per year range.
In or around 1990, the credit industry introduced the subprime market. This particular market targeted those with credit scores of less than 500. The other issues that qualified you as a subprime target were little or no credit history,, searscard.com, those who were finishing up a bankruptcy, and those who showed a history of not managing credit to the best, searscard.com, of their, searscard.com, ability. The credit card companies found a way to profit off the consumer who was usually in a desperate situation and was looking, searscard.com, for credit help in the form of a loan or credit card.
Some of the interest rates on these cards were close to, or over, a whopping 30%, while the credit limit remained very low anywhere from $250 to $500. If you were late on a payment that, searscard.com, could also cost you a hefty fee and the credit card companies were making thousands of dollars on these borrowers.
While this looked appealing to the lenders, they soon found out that a large percentage of their customers held true to not paying their bills and they were astonished to find out that more than, searscard.com, 10% of their customers were delinquent. With the industry average, searscard.com, only being 5% delinquent, this was a big cut in their profits. Even though some card issuers went out of business, others pushed the envelope even further.
In 2004 over 1 million credit card holders filed for bankruptcy. This sent a shockwave through the credit industry as a whole and so they lobbied, searscard.com, for stricter laws related to bankruptcy. What's really strange, though, is that while they screamed for bigger punishments, garnishments, and payback terms, they continued and some even increased, their ad campaigns to target this same subprime market.
You, as a consumer, should investigate all options before, searscard.com, signing that dotted line. Have you really read the terms associated with your credit card? Do you have a fixed rate that is within your budget? What are the default fees, the over limit fees, the yearly fees?
Some Solutions:
1. Find a way to put at least $500 into a CD or Savings Account at your local, searscard.com, bank.
2. In a financial emergency, you can borrow against your own CD or savings account with an interest rate of only about 2% to 3%. That's a far cry from a credit card with a $500 limit charging you 28.9%
3. If you don't have the cash, then don't buy it yet!
4. Repair your credit score by paying off all loans, credit cards, installments, on time or before.
5. Set a goal to have your credit score reach at least 630 within one year. Then focus on improving it more through the next couple of years.
6. Have a way, searscard.com, to make extra income devoted solely to paying off your debt. (Babysitting, garage sales, etc)
Rebecca Game is the founder of Digital, searscard.com, Women ฎ, Digital-Women.com, an online community for women in business. She is a 30 year, searscard.com, entrepreneur and dedicated to helping other women find business loans and business grants. Visit her site: Business Grants and Loans for Women
http://www.digital-women.com
Friday, December 4, 2009
Business Finance Working Capital Loan - Credit Card Processing
Author: Stephen Bush
Source: isnare.com
Credit card processing is often one of the most overlooked working capital business loan issues for a business owner. An effective credit card processing program can eliminate many credit card factoring, searscard.com, difficulties by implementing appropriate business finance and business cash advance cost-reduction alternatives.
Credit card processing improvements can achieve dual working capital management benefits by both eliminating credit, searscard.com, card financing difficulties and providing improved cash flow by enhanced management of business finance and merchant cash advance programs. The total management benefits of integrating, searscard.com, credit card receivable factoring and credit card processing services can be first-rate and significant, searscard.com,, searscard.com, for working capital business loan programs.
Business Finance Working Capital Loan: Cost Reduction
As I mentioned in a previous working capital business loan report, for any merchant that accepts credit cards as a payment method, a merchant cash advance (obtained through credit card factoring and credit card processing) is an important business finance tool that is frequently overlooked. Even the most successful businesses frequently need more cash than they can obtain from a commercial bank. However, what is typically overlooked by many merchants is the chance to lessen their credit card management and credit card processing costs at the same time that they obtain a merchant cash advance via credit card receivables financing and a working capital business loan.
Working Capital Business Finance Management: Avoid Credit Card Processing Problems
Credit card factoring is an important business finance, searscard.com, option to consider when a business is seeking a short-term commercial loan, an, searscard.com, unsecured business loan and improved approaches to credit card processing services. Unfortunately there are a number, searscard.com, of problems to be avoided with credit card processing and credit card factoring programs. As with any successful, searscard.com, business financing strategy, there will usually be only a small number of commercial lenders who are effective at implementing the joint tasks of credit card processing and credit card factoring strategies properly.
Because of such business finance problems, the choice of a provider of credit card receivable financing and credit card processing is extremely important to any business that accepts credit cards. To demonstrate which providers of credit card receivable factoring and credit card processing should be avoided, I have written a working capital business loan article which lists ten critical difficulties to avoid with credit card processing and credit card receivables management.
Business Cash Advance: Best and Lowest-Cost Credit Card Processing
For businesses either dissatisfied with their current credit card processing and business finance management services or simply wondering if any cost improvements are possible, a credit card receivable factoring program which eliminates all ten specific working capital business, searscard.com, loan obstacles mentioned above should be evaluated. One of the major working capital, searscard.com, management reasons for evaluating credit card receivables, searscard.com, financing, credit card processing, searscard.com, and credit card receivable factoring in this combined fashion is that the low-cost producers of the best merchant cash advance programs are, searscard.com, likely to be utilizing the best and lowest-cost credit card processing and management producers.
In many situations, the best and lowest-cost producers of credit card, searscard.com, management and credit card processing services, searscard.com, are not likely to be available to the typical merchant, searscard.com, without being a part of a working capital business loan plan covering credit card receivable financing, credit card processing and credit card receivables management. The overall business finance improvements realized, searscard.com, from the coordination, searscard.com, of these two key working capital strategies is likely to be worth the management efforts.
Business Loan and Working Capital Management: Improving Cash Flow
Business owners should not lose sight of the substantial total business finance, searscard.com, benefits which might accrue to their business by prudently, searscard.com, combining credit card processing and credit card receivables management services. As mentioned above, cost reduction and improved cash flow are primary goals of successful working capital management strategies, and the proper coordination of credit card factoring and credit card processing should accomplish both of these difficult goals simultaneously.
Copyright 1995-2007 AEX Commercial Financing Group and Stephen Bush. All Rights Reserved.
Source: isnare.com
Credit card processing is often one of the most overlooked working capital business loan issues for a business owner. An effective credit card processing program can eliminate many credit card factoring, searscard.com, difficulties by implementing appropriate business finance and business cash advance cost-reduction alternatives.
Credit card processing improvements can achieve dual working capital management benefits by both eliminating credit, searscard.com, card financing difficulties and providing improved cash flow by enhanced management of business finance and merchant cash advance programs. The total management benefits of integrating, searscard.com, credit card receivable factoring and credit card processing services can be first-rate and significant, searscard.com,, searscard.com, for working capital business loan programs.
Business Finance Working Capital Loan: Cost Reduction
As I mentioned in a previous working capital business loan report, for any merchant that accepts credit cards as a payment method, a merchant cash advance (obtained through credit card factoring and credit card processing) is an important business finance tool that is frequently overlooked. Even the most successful businesses frequently need more cash than they can obtain from a commercial bank. However, what is typically overlooked by many merchants is the chance to lessen their credit card management and credit card processing costs at the same time that they obtain a merchant cash advance via credit card receivables financing and a working capital business loan.
Working Capital Business Finance Management: Avoid Credit Card Processing Problems
Credit card factoring is an important business finance, searscard.com, option to consider when a business is seeking a short-term commercial loan, an, searscard.com, unsecured business loan and improved approaches to credit card processing services. Unfortunately there are a number, searscard.com, of problems to be avoided with credit card processing and credit card factoring programs. As with any successful, searscard.com, business financing strategy, there will usually be only a small number of commercial lenders who are effective at implementing the joint tasks of credit card processing and credit card factoring strategies properly.
Because of such business finance problems, the choice of a provider of credit card receivable financing and credit card processing is extremely important to any business that accepts credit cards. To demonstrate which providers of credit card receivable factoring and credit card processing should be avoided, I have written a working capital business loan article which lists ten critical difficulties to avoid with credit card processing and credit card receivables management.
Business Cash Advance: Best and Lowest-Cost Credit Card Processing
For businesses either dissatisfied with their current credit card processing and business finance management services or simply wondering if any cost improvements are possible, a credit card receivable factoring program which eliminates all ten specific working capital business, searscard.com, loan obstacles mentioned above should be evaluated. One of the major working capital, searscard.com, management reasons for evaluating credit card receivables, searscard.com, financing, credit card processing, searscard.com, and credit card receivable factoring in this combined fashion is that the low-cost producers of the best merchant cash advance programs are, searscard.com, likely to be utilizing the best and lowest-cost credit card processing and management producers.
In many situations, the best and lowest-cost producers of credit card, searscard.com, management and credit card processing services, searscard.com, are not likely to be available to the typical merchant, searscard.com, without being a part of a working capital business loan plan covering credit card receivable financing, credit card processing and credit card receivables management. The overall business finance improvements realized, searscard.com, from the coordination, searscard.com, of these two key working capital strategies is likely to be worth the management efforts.
Business Loan and Working Capital Management: Improving Cash Flow
Business owners should not lose sight of the substantial total business finance, searscard.com, benefits which might accrue to their business by prudently, searscard.com, combining credit card processing and credit card receivables management services. As mentioned above, cost reduction and improved cash flow are primary goals of successful working capital management strategies, and the proper coordination of credit card factoring and credit card processing should accomplish both of these difficult goals simultaneously.
Copyright 1995-2007 AEX Commercial Financing Group and Stephen Bush. All Rights Reserved.
Addressing Bad Credit Card Debt
Author: Andrew Boyd
Source: articleage.com
Spending Habits
So you've just got your credit, searscard.com, card. The first thing you need to be wary about is that a credit card is very easy to use - afterall you can shop in stores, via catalogs and online with your credit card. As it is so easy to buy things with it you can, searscard.com, find that you actually spend more than you are able to afford. As well as this, many people find that spending with a credit card does not feel like you are spending money - there is no physical cash handed over. This can lead to serious debt problems.
Controlling Your Spending
As many of us already know, a credit card can very easily get out of control. To avoid mounting credit card debt there are a few measures that you can take to protect yourself and your dependents from the stress of credit card debt.
Limit yourself to a strict budget. Always pay off, searscard.com, your credit card on time. Keep track of your credit card balance - many accounts are available online.
By following these simple but tried and trusted methods, searscard.com, you will be much less likely to fall into credit card debt.
What To Do If You Have Credit Card Debt
If you have allowed your spending to get out of control and have accrued a credit card debt, then there are some simple, searscard.com, steps that you can take to get out of the problem. Many people operate with multiple credit cards, once they reach their credit limit on one credit card they apply for another and repeat the process, searscard.com, . The best thing to do is to consolidate all, searscard.com, of your credit card debt onto one card. Apply for a 0% interest balance, searscard.com, transfer card and transfer all of your credit card debt onto the card. The balance will, searscard.com, not be charged any interest, searscard.com, for, searscard.com, a period of time, meaning you can start into paying, searscard.com, it back.
Apply for a 0% interest balance transfer card. Consolidate, searscard.com, all your credit card debt onto one card. Close all your other credit cards. Stop spending - don't add to your problem! Start paying back your debt.
What To Do If Your Credit Card Debt Damages Your Credit Score
If you have a large credit card debt and have perhaps missed, searscard.com, a couple of minimum monthly repayments, you may find that your credit score is depleted. In this situation you must address the problem immediately in order to protect your financial status.
Get a copy of your credit report, searscard.com, and check it for errors. Apply for a Secured Credit Card that will report to the credit bureaus. Repay your debts. Negotiate with your lenders.
Andrew Boyd is a content writer for First-Stop-Credit.com where you can apply for secured credit cards and other products to help improve your financial status.
Source: articleage.com
Spending Habits
So you've just got your credit, searscard.com, card. The first thing you need to be wary about is that a credit card is very easy to use - afterall you can shop in stores, via catalogs and online with your credit card. As it is so easy to buy things with it you can, searscard.com, find that you actually spend more than you are able to afford. As well as this, many people find that spending with a credit card does not feel like you are spending money - there is no physical cash handed over. This can lead to serious debt problems.
Controlling Your Spending
As many of us already know, a credit card can very easily get out of control. To avoid mounting credit card debt there are a few measures that you can take to protect yourself and your dependents from the stress of credit card debt.
Limit yourself to a strict budget. Always pay off, searscard.com, your credit card on time. Keep track of your credit card balance - many accounts are available online.
By following these simple but tried and trusted methods, searscard.com, you will be much less likely to fall into credit card debt.
What To Do If You Have Credit Card Debt
If you have allowed your spending to get out of control and have accrued a credit card debt, then there are some simple, searscard.com, steps that you can take to get out of the problem. Many people operate with multiple credit cards, once they reach their credit limit on one credit card they apply for another and repeat the process, searscard.com, . The best thing to do is to consolidate all, searscard.com, of your credit card debt onto one card. Apply for a 0% interest balance, searscard.com, transfer card and transfer all of your credit card debt onto the card. The balance will, searscard.com, not be charged any interest, searscard.com, for, searscard.com, a period of time, meaning you can start into paying, searscard.com, it back.
Apply for a 0% interest balance transfer card. Consolidate, searscard.com, all your credit card debt onto one card. Close all your other credit cards. Stop spending - don't add to your problem! Start paying back your debt.
What To Do If Your Credit Card Debt Damages Your Credit Score
If you have a large credit card debt and have perhaps missed, searscard.com, a couple of minimum monthly repayments, you may find that your credit score is depleted. In this situation you must address the problem immediately in order to protect your financial status.
Get a copy of your credit report, searscard.com, and check it for errors. Apply for a Secured Credit Card that will report to the credit bureaus. Repay your debts. Negotiate with your lenders.
Andrew Boyd is a content writer for First-Stop-Credit.com where you can apply for secured credit cards and other products to help improve your financial status.
Thursday, December 3, 2009
"bad Credit" Credit Cards: How You Can Avoid High Fees
Author: Jeff Weber -
Source: articledashboard.com
Individuals with problematic, searscard.com, credit histories, searscard.com, often suffer unfairly from high mortgage, insurance, and car loan rates. On top of that, they have difficulty getting approved for credit cards. The whole situation can get extremely frustrating. Frequently, I get emails from consumers wondering what they can do to rebuild their credit. The first thing I tell them is to get a credit card designed for people with bad credit. The second thing I tell them is written in bold: READ THE FINE PRINT.
There are only a limited number of credit cards for individuals with bad credit. At, searscard.com, first glance, many look the same. They all help build and rebuild your credit by reporting to the major credit bureaus on a monthly basis. They all provide you with the Visa or Mastercard you need to make many purchases. And they are all necessary evils that can save you thousands of dollars in mortgage and car loan rates in the future. However, you must read the fine print before applying for one of these credit cards, as they often charge high yearly fees, set-up fees, and even monthly fees. Here, I will examine a few examples of charges current "bad credit" credit cards bury in the fine print. Of the three major cards I will examine, only one, searscard.com, stands out as consumer-friendly.
"Bad Credit" Credit Card #1: This credit card charges a very low interest rate for an unsecured credit card. However, your first fine print glimpse reveals that there is a one time setup fee of, searscard.com, $29. Not too bad. So far, since the next charge is a one time fee of $95. So far, we're up to $124 in expenses. That's got to be it, right?, searscard.com, No. Add in another $48 for the annual fee and $6 per month in account, searscard.com, maintenance fees. That's brings the cost of your new credit card to $244 the first year, and $120 each additional year. This is no small change, and a card such as this should be considered only if you cannot be accepted for a better unsecured credit card for bad,, searscard.com, searscard.com, credit.
"Bad Credit" Credit Card #2: This credit card charges a very high interest rate for an unsecured credit card. This, searscard.com, can't be good. But the setup fee is only, searscard.com, $29. Maybe this card isn't so bad. There is that pesky monthly maintenance fee of $6.50 per month which brings the cost of this unsecured credit card to $107., searscard.com, Maybe we've found a bargain. Not quite. The annual fee is a whopping $150. Yes, $150 every year. That not only brings the initial cost up to $257, but you will also pay $228 a year just to maintain the credit card. There has to be a better offer.
"Bad Credit" Credit Card #3: This credit card is available as both a secured and unsecured credit card, based on the issuer's review of your credit history. The interest rate is average, even competitive. Now, the fine print reveals that there is a one time setup fee. However, based on your credit, this fee can be as low as $0 or as high as $49. So far so good,, searscard.com, especially if your credit is not that bad. But, there must be a huge annual fee. Not exactly. The annual fee for a secured credit card is only $35, and for an unsecured credit card, this fee can be as low as $39 or up to $79. So, searscard, searscard.com, .com, far, the cost of this card ranges from, searscard, searscard.com, .com, $35 to $128, searscard.com, . Now its time for the monthly maintance fee. This one has to be huge. Or not. Its $0. That means the most you could possible be charged to obtain this credit, searscard, searscard.com, .com, card is $128, about half of what competing cards are charging.
Clearly, there are substantial difference between "bad credit" credit cards. Of the three offers we have examined, only one doesn't take you to the cleaners. In fact, "bad credit" credit, searscard.com, card #3 provides great value. All positive changes to your credit history, searscard.com, and credit score will translate into lower loan rates, lower credit card interest rates, lower insurance rates, and ultimately, thousands of dollars in savings. The path, searscard.com, to rebuilding credit has its costs, but in the long term, rebuilding your credit with a "bad credit" credit card is the fastest and most cost-efficient, searscard.com, way to correct the often unfortunate circumstances that have damaged your credit in the first place.
ฉ2006 Credit Card Depot Inc.
Source: articledashboard.com
Individuals with problematic, searscard.com, credit histories, searscard.com, often suffer unfairly from high mortgage, insurance, and car loan rates. On top of that, they have difficulty getting approved for credit cards. The whole situation can get extremely frustrating. Frequently, I get emails from consumers wondering what they can do to rebuild their credit. The first thing I tell them is to get a credit card designed for people with bad credit. The second thing I tell them is written in bold: READ THE FINE PRINT.
There are only a limited number of credit cards for individuals with bad credit. At, searscard.com, first glance, many look the same. They all help build and rebuild your credit by reporting to the major credit bureaus on a monthly basis. They all provide you with the Visa or Mastercard you need to make many purchases. And they are all necessary evils that can save you thousands of dollars in mortgage and car loan rates in the future. However, you must read the fine print before applying for one of these credit cards, as they often charge high yearly fees, set-up fees, and even monthly fees. Here, I will examine a few examples of charges current "bad credit" credit cards bury in the fine print. Of the three major cards I will examine, only one, searscard.com, stands out as consumer-friendly.
"Bad Credit" Credit Card #1: This credit card charges a very low interest rate for an unsecured credit card. However, your first fine print glimpse reveals that there is a one time setup fee of, searscard.com, $29. Not too bad. So far, since the next charge is a one time fee of $95. So far, we're up to $124 in expenses. That's got to be it, right?, searscard.com, No. Add in another $48 for the annual fee and $6 per month in account, searscard.com, maintenance fees. That's brings the cost of your new credit card to $244 the first year, and $120 each additional year. This is no small change, and a card such as this should be considered only if you cannot be accepted for a better unsecured credit card for bad,, searscard.com, searscard.com, credit.
"Bad Credit" Credit Card #2: This credit card charges a very high interest rate for an unsecured credit card. This, searscard.com, can't be good. But the setup fee is only, searscard.com, $29. Maybe this card isn't so bad. There is that pesky monthly maintenance fee of $6.50 per month which brings the cost of this unsecured credit card to $107., searscard.com, Maybe we've found a bargain. Not quite. The annual fee is a whopping $150. Yes, $150 every year. That not only brings the initial cost up to $257, but you will also pay $228 a year just to maintain the credit card. There has to be a better offer.
"Bad Credit" Credit Card #3: This credit card is available as both a secured and unsecured credit card, based on the issuer's review of your credit history. The interest rate is average, even competitive. Now, the fine print reveals that there is a one time setup fee. However, based on your credit, this fee can be as low as $0 or as high as $49. So far so good,, searscard.com, especially if your credit is not that bad. But, there must be a huge annual fee. Not exactly. The annual fee for a secured credit card is only $35, and for an unsecured credit card, this fee can be as low as $39 or up to $79. So, searscard, searscard.com, .com, far, the cost of this card ranges from, searscard, searscard.com, .com, $35 to $128, searscard.com, . Now its time for the monthly maintance fee. This one has to be huge. Or not. Its $0. That means the most you could possible be charged to obtain this credit, searscard, searscard.com, .com, card is $128, about half of what competing cards are charging.
Clearly, there are substantial difference between "bad credit" credit cards. Of the three offers we have examined, only one doesn't take you to the cleaners. In fact, "bad credit" credit, searscard.com, card #3 provides great value. All positive changes to your credit history, searscard.com, and credit score will translate into lower loan rates, lower credit card interest rates, lower insurance rates, and ultimately, thousands of dollars in savings. The path, searscard.com, to rebuilding credit has its costs, but in the long term, rebuilding your credit with a "bad credit" credit card is the fastest and most cost-efficient, searscard.com, way to correct the often unfortunate circumstances that have damaged your credit in the first place.
ฉ2006 Credit Card Depot Inc.
Tuesday, December 1, 2009
Easy Credit-IsThis Your Credit Card?
Author: J Shipper
Source: articleage.com
Need a credit card? No problem! And that's exactly the problem. In a nation where instant gratification is touted as a, searscard.com, virtue, credit is available to anyone no matter what their credit history. This is causing personal and financial problems for many consumers who abuse the easy availability of credit and find themselves unable to pay back their loans.
There was a time in history when extensive credit was available only to the aristocracy, and debt carried a social stigma for, searscard.com, anyone else. The poor and middle class were carefully scrutinized when they applied for loans, and debtor's prison awaited those who did not repay their debts.
Americans are more indebted than ever in the nation's history. The amount, searscard.com, owed on loans for cars, homes and, searscard.com, credit cards adds up, searscard.com, to nearly 100% of annual after-tax income, according to a report in Business Week magazine. Yet, according to the Consumer Fedaration of America, this alarming level of indebtedness has not deterred the moneylenders: credit card companies have more tha $3 trillion of unused credit lines up for grabs, approximately $30,000 per American family.
According to Fair, Isaac and Co. (FICO), the average consumer has access to $12,190 on all credit cards combined. Not everone is a spendthrift: more than half of cardholders use less than 30% of their total credit limit. However, one in eight is using 80% or more of their credit limit, and 1 in 10 have a total debt greater than $10,000. Cardweb.com estimates that 20% of American credit cards are maxed out.
There are specialized credit cards being, searscard.com, offered to all kinds of borrowers, from students to small business owners. Each demographic group is targetted with a specific sales pitch.
People with good credit ratings can easily access lines of credit at an interest rate of 5% or less, searscard.com, over the current prime rate, and such applicants are also qualified for Platinum credit cards. However, about half of cards in circulation are Gold cards, which, searscard.com, require just $10,000 in annual income for qualification.
The credit industry uses, searscard.com, credit scores to divide potential customers into "prime" and "subprime" markets, referring to the prime interest rate set by banks. Elite borrowers can obtain a line of credit on a Platinum card at an interest rate around 12%. A Gold card carries an average interest rate of 15%, while a standard credit card charges rates around 17%. Then there's the subprime market, which first emerged, searscard.com, in the 1990s, dealing with consumers whose credit scores are 500 or less, little or no credit history,, searscard.com, those emerging from bankruptcy and anyone with an inconsistent performance in managing credit. These, searscard.com, people are often low income earners and/or poor money managers, but the credit card industry finds a way to profit from these most needy of borrowers.
Unlike, searscard.com, "secured" credit cards, cards offered to subprime, searscard.com, borrowers require no security deposit. Credit limits start out very low -- initially in the $100 to $500 range. However, fees can, searscard.com, be hundreds of dollars and interest rates can easily soar to usurous rates of 30% or more.
The industry also offers "secured" credit cards, searscard.com, to offer high-risk customers, searscard.com, . Borrowers, searscard.com, are required to pay an up-front security deposit from $99 to $5,000 to serve as collateral in case of default.
Many social and business commentators have denounced, searscard.com, the subprime lending business for, searscard.com, exploiting the poor, comparing the industry's problems to depression-era banking scandals. Lenders take on poor and desparate customers at their own risk, writing off losses in the 15% to 17% range, versus the average industry loss rate of 6.5%, according to CardWeb. The delinquency rate among subprime, searscard.com, card issuers, searscard.com, is 10%, twice as high as the industry average. Some credit card companies, such as NextCard, have been, searscard.com, unable, searscard.com, to recoup their losses and have closed up shop.
According to many pundits, the American economy has been, searscard.com, thriving in the past 5 years, with a steady growth in the GDP. However,, searscard.com, 90% of this growth has been due to the housing bubble; real wages have declined by 4% since 2000 while health costs have risen by 40%. Middle and lower class Americans are becoming increasingly financially squeezed and unable to pay their debts.
A record number of 1.3 million cardholders filed for bankruptcy in 2004. In response, the credit industry lobbied successfully for stricter bankruptcy laws. However, according to the Consumer Federation of America, the increasing incidence of loan defaults did not spur the card companies to become more discriminating in their choice of customers. In fact, they actually boosted their promotional campaigns to a record 5 billion solicitations ( approximately 50 per American household) compared to 3.5 billion the previous year, many of these ads targeting the sub-prime market.
Now consider the debit card: it is decorated, searscard.com, with the Visa or Mastercard emblem, and has all the functions of a credit card in that can be used at a cash register and for internet and telephone purchases, searscard.com, . However, it takes money directly out of the cardholder's bank account and allows no more spending once the account is empty. A debit card has no monthly fees and no interest charges, and no chance of getting into debt. Perhaps this is the best consumer solution to a credit-mad economy.
J Shipper is interested in credit.
http://www.credit-cards-2006.info
http://www.become-a-visa-mastercard-distributor.info
http://www.bankruptcy-credit-cards, searscard.com, -debthelpnet.info
Source: articleage.com
Need a credit card? No problem! And that's exactly the problem. In a nation where instant gratification is touted as a, searscard.com, virtue, credit is available to anyone no matter what their credit history. This is causing personal and financial problems for many consumers who abuse the easy availability of credit and find themselves unable to pay back their loans.
There was a time in history when extensive credit was available only to the aristocracy, and debt carried a social stigma for, searscard.com, anyone else. The poor and middle class were carefully scrutinized when they applied for loans, and debtor's prison awaited those who did not repay their debts.
Americans are more indebted than ever in the nation's history. The amount, searscard.com, owed on loans for cars, homes and, searscard.com, credit cards adds up, searscard.com, to nearly 100% of annual after-tax income, according to a report in Business Week magazine. Yet, according to the Consumer Fedaration of America, this alarming level of indebtedness has not deterred the moneylenders: credit card companies have more tha $3 trillion of unused credit lines up for grabs, approximately $30,000 per American family.
According to Fair, Isaac and Co. (FICO), the average consumer has access to $12,190 on all credit cards combined. Not everone is a spendthrift: more than half of cardholders use less than 30% of their total credit limit. However, one in eight is using 80% or more of their credit limit, and 1 in 10 have a total debt greater than $10,000. Cardweb.com estimates that 20% of American credit cards are maxed out.
There are specialized credit cards being, searscard.com, offered to all kinds of borrowers, from students to small business owners. Each demographic group is targetted with a specific sales pitch.
People with good credit ratings can easily access lines of credit at an interest rate of 5% or less, searscard.com, over the current prime rate, and such applicants are also qualified for Platinum credit cards. However, about half of cards in circulation are Gold cards, which, searscard.com, require just $10,000 in annual income for qualification.
The credit industry uses, searscard.com, credit scores to divide potential customers into "prime" and "subprime" markets, referring to the prime interest rate set by banks. Elite borrowers can obtain a line of credit on a Platinum card at an interest rate around 12%. A Gold card carries an average interest rate of 15%, while a standard credit card charges rates around 17%. Then there's the subprime market, which first emerged, searscard.com, in the 1990s, dealing with consumers whose credit scores are 500 or less, little or no credit history,, searscard.com, those emerging from bankruptcy and anyone with an inconsistent performance in managing credit. These, searscard.com, people are often low income earners and/or poor money managers, but the credit card industry finds a way to profit from these most needy of borrowers.
Unlike, searscard.com, "secured" credit cards, cards offered to subprime, searscard.com, borrowers require no security deposit. Credit limits start out very low -- initially in the $100 to $500 range. However, fees can, searscard.com, be hundreds of dollars and interest rates can easily soar to usurous rates of 30% or more.
The industry also offers "secured" credit cards, searscard.com, to offer high-risk customers, searscard.com, . Borrowers, searscard.com, are required to pay an up-front security deposit from $99 to $5,000 to serve as collateral in case of default.
Many social and business commentators have denounced, searscard.com, the subprime lending business for, searscard.com, exploiting the poor, comparing the industry's problems to depression-era banking scandals. Lenders take on poor and desparate customers at their own risk, writing off losses in the 15% to 17% range, versus the average industry loss rate of 6.5%, according to CardWeb. The delinquency rate among subprime, searscard.com, card issuers, searscard.com, is 10%, twice as high as the industry average. Some credit card companies, such as NextCard, have been, searscard.com, unable, searscard.com, to recoup their losses and have closed up shop.
According to many pundits, the American economy has been, searscard.com, thriving in the past 5 years, with a steady growth in the GDP. However,, searscard.com, 90% of this growth has been due to the housing bubble; real wages have declined by 4% since 2000 while health costs have risen by 40%. Middle and lower class Americans are becoming increasingly financially squeezed and unable to pay their debts.
A record number of 1.3 million cardholders filed for bankruptcy in 2004. In response, the credit industry lobbied successfully for stricter bankruptcy laws. However, according to the Consumer Federation of America, the increasing incidence of loan defaults did not spur the card companies to become more discriminating in their choice of customers. In fact, they actually boosted their promotional campaigns to a record 5 billion solicitations ( approximately 50 per American household) compared to 3.5 billion the previous year, many of these ads targeting the sub-prime market.
Now consider the debit card: it is decorated, searscard.com, with the Visa or Mastercard emblem, and has all the functions of a credit card in that can be used at a cash register and for internet and telephone purchases, searscard.com, . However, it takes money directly out of the cardholder's bank account and allows no more spending once the account is empty. A debit card has no monthly fees and no interest charges, and no chance of getting into debt. Perhaps this is the best consumer solution to a credit-mad economy.
J Shipper is interested in credit.
http://www.credit-cards-2006.info
http://www.become-a-visa-mastercard-distributor.info
http://www.bankruptcy-credit-cards, searscard.com, -debthelpnet.info
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