Archive for November, 2008
November 30, 2008 at 6:59 am · Filed under Uncategorized
A creditor uses a credit score to decide whether to give you a credit or not. The credit score is based on statistics and uses real data obtained from your credit report and credit application. A high score can get you a loan very easily. You can also bargain for a higher loan or a better deal.
A significant part of the real data used to determine the credit score is obtained from your credit card statements. So abusing your credit card will definitely hurt your credit score.
Your Credit Card History
You are abusing your credit card every time you spend and are not able to pay it back within the time limit. It reflects badly on your reputation in the neighborhood and your credit score when a collection agent is banging on your door for payment. If your credit card debt is close to your credit card limit, you may just have to give up on applying for more credit. And if your credit cards end up in making you bankrupt, your credit score will definitely be touching rock bottom.
There is not much relief even if you regularly pay off your credit card debts. The time taken to free your credit card from debt will impact your credit score. Then again, the regularity with which you pay it off will also matter. These factors can lower your credit score.
Too many credit cards attract negative ratings. Your juggling act with credit cards to stave off debt and keep your spending spree afloat will not invite admiration. As all the credit card transactions are taken into account, the final picture will be far from beautiful.
Even if you turn over a new leaf, you will not reap the benefits immediately. You have to pay off all your credit card bills of course, and not fall prey to new debts and keep your spending low. This may take a very long time. The credit score will take even longer to reflect this new you. Therefore prevention is better than cure. Use your credit card wisely so that your credit score looks good at all times.
Zack Nelson recommends Find Credit Cards to find a Discover card application.
November 27, 2008 at 7:03 pm · Filed under Uncategorized
Almost everything became easier with the use of the Internet. It has made online stores available for you to order different items online, which is why shopping is never an inconvenience. Internet has also made it possible for you to pay your debts using online channels. Even online credits cards became accessible. You can apply for a credit card using the internet.
Mostly, people misunderstood the term “online credit cards”. The phrase does not necessarily mean free online credit, but it means free online application of credit cards. You are not given free credit privileges but can be used for transaction in the web.
How are you going to apply for online credit cards?
All the needed requirements in conventional application are also needed in online credit card application. You are going to submit these requirements digitally. The credit card is going to be delivered to you once your application is successfully granted.
Most of the people prefer using this method of application because of its convenience. You too can avail this chance to have it without leaving your house.
You can avail the online credit card application by searching on Internet. There are many online credit card establishments on Internet; you only need to choose which is best for your needs. You can search for it by using some of the search engines and be in touch with all the online credit card establishments in just a click of your mouse.
How are you going to use your online credit cards?
You need online credit card to do businesses over Internet; you cannot do any transaction online without it. Transactions are easy. Money is converted into a digital manner.
You only have to type the specific numbers and details of the online credit cards for you to pay the product or merchandise you purchased and the services you avail over the web.
You do not have to worry about the security of these online credit cards. You may have heard that before, security is one of the major problems of it, as many credit cards online are being hacked.
The hackers are able to use the account for their evil purposes. You need not worry about this because the modern technologies have successfully solved the occurrence of this major problem over the web.
Most of the online credit cards establishments use this Secured Socket Layers or SSL packed with 128 bit and 256 encryptions to guarantee the security of your account. You now can securely use this online credit card.
You must choose an online credit card establishment that uses SSL to determine the safety and security of your account. If you already have an online credit card, check the SSL of the credit cards to know if secured.
If you see a padlock icon appear on the lower right corner of your browser window, you are assured that the online credit card you have is safe and secured.
The online credit card gives these conveniences. You too can avail the benefits of it, try applying for online credit cards. Check out the net for more useful information before you your application. Convenience has never been made this possible take the chance and enjoy the benefits.
Morgan Hamilton offers expert advice and great tips regarding all aspects concerning Credit Cards. Get the information you are seeking now by visiting Apply Online For Credit Cards
November 27, 2008 at 4:00 pm · Filed under Uncategorized
Getting cash back while using your credit card makes all the difference in the world, especially as high as prices are today. Cash back providers can provide cardholders with cash rewards/rebates and more while employing the credit card. Cardholders make purchases using the credit card, and in exchange, the card providers will add points per purchase made on the card. Cardholders can take advantage of the cards, since some cards make it easy to build up cash rebates, based on dollar amounts. The industry average per rebates is 1%; however, cash rebates differ, depending on the credit card and provider.
How does it work? The cash back card providers will charge the business where the card was utilized a fee. The card provider then provides the cardholder a portion of that fee in the form of a cash rebate.
It is important to shop around while considering cash back or rewards credit cards. Some credit card lenders will charge higher than average Annual Percentage Rates (APR’s), in an effort to recoup some of the fees paid out. The annuals fees can range from $25 up to $100 yearly and some lenders will charge more.
Rebates and Balance Transfers
Card issuers can also offer certain cardholders superior rebate percentages providing the card is utilized often. Other lenders may offer superior rebates, while making purchases at supermarkets, gas stations, and selected retailers. Balance transfers or cash advances are often excluded from the rebate deals, i.e. you will not receive cash back per cash advance or Balance Transfer made.
Over the Internet there are various cards offered, which include the cash back cards. Potential cardholders should apply for suitable cards with cash back rebates, especially cardholders who will not carry a balance monthly.
Interest Rates and Rebates
Standard platinum credit cards often have lower APR’s, and most often will be lower than cash back credit cards. Therefore, if the interest rates are high on cash back cards, it will counterbalance the rebates received. This means you will repay the credit card lenders, paying back the rebates through interest payments.
As you can see, if you are not vigilant about paying your monthly balance on the cash back credit cards before the grace period, you will pay more on the cards via interest rates and will more than likely be paying more in interest charges than receiving in reward point benefits.
The Chase Cash Plus Rewards card offer offers 5% cash back for purchases at drugstores, gas stations, or grocery stores. The cards offer 1% cash back on all other purchases made with the card. The introductory fees are 0% up to one year on APR and balance transfers, purchases, and there is no annual fee. And remember, typically you must have very good credit to get approval for cash back credit cards.
For more information on cash back credit cards available in the marketplace, Rob Willis recommends that you visit CreditCardAssist.com.
November 25, 2008 at 1:47 pm · Filed under Having Fun, World Of Gambling
Identifying the habits and patterns of your poker opponents is one of the key components to being a successful poker player. That said, being a poker player with no discernable tendencies or singular style puts you at an advantage over the other players at your table.
A huge key to controlling how your poker opponents think of you is to cultivate an image. Establish a pattern and have your opponents thinking that you are an aggressive player, or clam up and have them thinking that you’re tight. When you see that they’re expecting you to act in a certain way, then it’s time to switch it up.
If you’ve been cultivating a tight betting style, start raising. If they’ve been paying attention, your opponents will put you on a good hand and fold, giving you the pot. Eventually, they’ll pick up on your new style, and then you can switch back to playing tight again. Hopefully, you’ll drive them insane and they’ll just hand their chips over. Conversely, watch for other players that are employing the same strategy. Keep an eye on their tendencies, and watch for sudden changes in their betting. It takes a thief to catch one, and if you catch one, you usually end up with their stack.
November 24, 2008 at 7:34 pm · Filed under Uncategorized
While most of us wish that we could find credit cards that only had 0% APR, they can’t really exist because the credit card companies wouldn’t make any money. However, if you’re looking to save money with a lower interest rate, there are ways to find great deals on APR percentages.
Balance transfers
The trick with getting a 0% APR is to find a credit card that allows you to transfer other balances under that initial lower APR interest rate. While there is usually a time limit to these kinds of offers, they can help save you a lot of money in the long run. And if you think about it, these offers are much like getting the 0% APR on that other card, it’s just a matter of where you send the bill to.
Talking with the cards that you have
You might not know this, but if you’re a good customer for your current credit card company, you may be able to ask for a limited 0% APR period as well. If you’ve been paying your bills on time and keeping a fairly low balance, many companies are willing to reduce or negate the interest rate for a while. They want your business, so they’re usually willing to give you a deal to keep you using their card.
Going online
There are many credit card company comparison sites that will allow you to see which card companies are offering 0% APR for the first year of use or for limited time periods. And while this isn’t a permanent solution, you can see which cards are willing to take you on as a customer for a lower interest rate.
A word of caution
While it’s safe to say that you’re aware of the fact that 0% APR periods can be short, you need to be certain that you understand what the card company defines as a period. In most cases, the first purchase starts the cycle of interest free credit balances, as opposed to the first billing cycle end.
Look to see what the interest rate will be when the trial period is over. If the interest jumps dramatically, you might be in for an unpleasant surprise if you’re still carrying a balance. And the truth is that many of these credit card companies will increase their interest rates from 0% to 15% and even 24%.
Also realize that there might be restrictions in getting the 0% APR. If you make certain purchases or don’t make a payment within a certain time, you might revoke your right to that lowered interest rate. Read the fine print.
Beth Derkowitz recommends Find Credit Cards for finding 0 APR credit card offers.
November 23, 2008 at 2:14 pm · Filed under Uncategorized
For credit card companies one of the largest groups of potential customers they chose to target each year is college students. Student credit cards offer young adults a way to cover expenses while attending school, something that is often easier said than done. By offering nave college students, who have little to no prior experience with credit cards, a way to pay their bills and cover other expenses, credit card companies often find a number of eager new customers. However, student credit cards often cause many students who have never experienced the process of managing their finances a quick fall into debt. Credit card debt can be a real and very extreme danger for students applying for their first credit card.
Many credit card companies find ways to appeal to young college students looking for financial help. Some offer low interest rate or 0 APR credit cards to college students with good credit. However, what some of the trickier credit card companies fail to mention to students, or include in fine print that is often overlooked, is that low rates or 0% APR is sometimes only offered for a short period of time, such as a year. Once the initial time period is up, rates will often increase to more standard rates which is sometimes unexpected and in some cases overlooked by customers. This can cause student credit card customers to become inundated with credit card debt.
Once credit card debt gets up to a certain point, payments can be huge; this is why it is important to keep credit card debt at a manageable rate. Once credit card debt gets too high, payments will also rise. If payments are missed, credit card interest will cause credit card debt to climb even if the credit card has not recently been used. Keeping on top of payments and not using the credit card to an extent to which you will have trouble making payments on time is the ideal way to stay free of credit card debt.
It is important for students to be aware of the dangers of credit card debt in order to avoid financial trouble. However, it is up to them to be informed and make smart financial decisions when it comes to student credit cards. If students are interested in applying for a credit card, the best way to go about it is to research credit card companies to find the best credit card and credit card rates available. Some student credit card deals are co0mpletely legitimate and can be a great way for students to manage their finances. If students are informed, make regular payments, and do not raise their credit card limits to absurd rates, they will most likely be able to manage their credit card with no problems.
Peter Sissons, Retired Bank Manager and Credit Card Debt advisor - focusing on Secured Credit Cards and Student Credit Cards
November 23, 2008 at 12:35 pm · Filed under Uncategorized
Consumers looking to obtain a new credit card may just want consider the Chase Platinum Visa card. The Chase Platinum Visa card has been in existence for a long time, but just recently some strong improvements have been made by the J.P. Morgan & Chase Co. making the card a strong competitor in a highly competitive market. Is the Chase Platinum Visa card right for you? Please keep reading to find out for yourself.
Extended Introductory Rate
In the credit card business, all the top cards are still offering 0% APR for an introductory period. Six months is the standard length of time, with some offering a twelve month introductory rate period. Chase, on the other hand, recently served notice that they are extending this introductory rate out for a full fifteen months to qualified customers! If your credit history is good and your application is in order, you may be eligible for this extended introductory rate offer.
Balance Transfer Offer
When applying for the Chase Platinum Visa card you’re eligible to transfer balances from high interest rate credit cards to your new card. You could potentially save yourself hundreds of dollars in interest costs by transferring your balances to your new card.
No Annual Fee
Many platinum or premium credit cards charge annual fees, but with the Chase Platinum Visa card no fee is assessed.
Free Travel Accident Insurance
Chase Platinum Visa cards offer up to $500,000 in travel accident insurance, an amount much higher than what most credit cards are offering today. Save money on insurance premiums as the Chase Platinum Visa card plan includes this type of insurance for free!
Free Car Rental Insurance
Use your Chase Platinum Visa card when renting a car and your rental insurance is completely covered too. For a one week rental, this type of insurance could easily tack on an additional $100 to your bill. With the Chase Platinum Visa card you are completely covered.
Chase’s offer is all the more remarkable in the face of constantly climbing interest rates. As you probably already know, most credit card rates continue to rise along with the upward swing in all consumer rates. Thus, the Chase Platinum Visa card is truly a unique opportunity for the savvy consumer.
So, if you have a good credit rating and are in need of a new credit card, the Chase Platinum Visa card may be just right for you. With credit card rates surging, taking advantage of a card offering 0% APR for 15 months is a surefire way toward saving yourself plenty of money.
Copyright 2006 Ed Vegliante.
Click here for more details on the Chase Platinum Credit Card.
Ed Vegliante runs the website http://www.Credit-Card-Surplus.com, a well organized credit card directory enabling the consumer to compare and apply for a variety of credit card offers. View more Credit Card Articles.
November 23, 2008 at 10:56 am · Filed under Uncategorized
The key to your credit rating lies with a credit bureau. There are a handful of credit bureaus in North America that handle all reports - positive and negative - from creditors to create a credit report specific to you. If you have a poor credit history, you must take steps to engage in credit repair, and one of the first and most essential tools is to learn how to effectively deal with your credit bureau.
Credit repair begins with determining which credit bureau holds your file. To do this simply look at any rejection letter from a credit application - the letter, in refusing you credit, will indicate which bureau proved the rating. The next step is to obtain your credit history. Keep in mind that legally it is always free to obtain your credit history if you have recently been denied credit, although many organizations will imply that it is not. The only time you should pay money for a credit report is if you want to receive it instantly, in which case credit bureaus will provide an instant online report for a fee.
When dealing with a credit bureau, understand that they are in the business of collection and selling information. For this reason, it is in your interest to never provide them with any information that is not legally necessary. Legally, you only need to provide a credit bureau with your name, social security number and legal address in order to obtain your credit report. The bureaus may request a copy of your social security card, and - if the address they have on file is different from your current one - a copy of something proving your address. Although they may ask for a driver’s license to prove your address, send them a copy of a bill showing your address. The reason you want to be cautious when dealing with credit bureaus is that they own many collection agencies, and if you have a credit problem you want to give them as little information as possible with which to harass you with.
Once you have received the report, examine it closely for any errors. If anything is in question, send a written request for an investigation to the credit bureau. Legally, the onus is on the credit bureau to document anything on your credit report - if they cannot document it within 30 days, it must be removed. This is the basic strategy of many credit repair companies that charge exorbitant fees: challenge everything negative. In many cases if the negative item is more than a few years old it will be difficult to verify and the item will be removed.
By learning to properly deal with a credit bureau you can engage in effective credit repair that other companies change high fees for. By educating yourself as to the legal obligations of the credit bureau, you can, in many cases, repair your own credit quickly and effectively.
Drikus Botha is wellknown for his articles and e-courses. You can subscribe to one of his free credit repair e-courses right here.
November 22, 2008 at 1:42 am · Filed under Uncategorized
The consumer credit counseling business is a huge industry in America, since the average American is a mere three paychecks away from facing huge, potentially devastating financial difficulty. Each year, more than a million Americans turn to credit counselors to try to help themselves regain control of their financial burdens. But just how the credit counseling business works is a mystery to most consumers. What’s involved when you hire a credit counselor?
It may come as a bit of a shock, but the first thing you need to understand is that consumer credit counselors don’t work for YOU! That’s one reason their ads on television, radio, and in your email box shout, “Our services cost you nothing!” However, any business needs to derive income from somewhere, so if they’re not charging you, who does pay them? In truth, they work for the lenders. Here’s how it works:
Regardless of what their commercials would have you believe, credit counselors don’t renegotiate the overall amount of your debt–that is, the total principal balance you owe to your creditors. Instead, they negotiate with the various lenders to decrease your interest rates. For instance, let’s say that you’re paying somewhere around 18 percent on the charge card you want help with (some stores still charge as much as 21 percent). A credit counselor will contact the cardholder and negotiate a lower interest rate–sometimes as much as half the original rate.
That’s the good news. The not-so-good news is that your minimum payments will still be based on a 90/10 split, meaning that 90 percent of your monthly payment will still go toward paying interest on the card. That means, as is the case with any credit card payment, it will be well worth your while to pay a little more than the minimum each month, in order to whittle down your principal. It will save you significant amounts of money in the long run.
But how can credit card companies continue to make money by cutting interest rates in half, and what do they have to gain by doing so? The first reason is because they know that it’s better to get something, which they’ll do if you continue to pay them, even at a reduced interest rate, than to risk having you default on the entire amount. The second reason is because, even at the reduced rate, the lender is still making a healthy profit. They have borrowed that money at a significantly lower rate–sometimes as much as 66 percent less than the rate they’ll be charging you. (That’s why the financial institutions have big buildings; they make huge amounts of profit.)
Credit counselors CAN save you money, there’s no doubt about that. But don’t be fooled into thinking that they work for YOU, because they don’t. In the end, credit card companies love credit counselors, because the counselors truly work for them. That’s why you don’t pay for credit counseling services. The credit card companies are happy to pay them for you.
Copyright © Jeanette J. Fisher.
Jeanette Fisher teaches how to get out from under credit card debt, how to use credit to make money, and six ways to build strong credit to finance your first home and multiple investment properties. For a free credit advice and free ebook “Credit Tips for Mortgage Financing,” see http://worryfreecredit.com.
November 21, 2008 at 10:35 pm · Filed under Uncategorized
Credit scores may seem like a mysterious number to consumers, but they
are really just a basic mathematical formula to determine your credit risk.
With hundreds of factors affecting your score, each credit choice you make
changes your score. Knowing your score can help you get more accurate loan
quotes and better financial offers.
Unlike a credit report, credit scores aren’t free. You can purchase the
information from a reporting agency or you can go through a credit
monitoring service. Most credit monitoring companies will give you your
score free as part of a trial offer.
Evaluate Your Lending Risk
Do you know what type of credit you have? While most people answer with
a
‘good credit’ or ‘bad credit’, a number is a more valuable tool. A
score of
670 or higher qualifies you for the best rates. Lower numbers are
divided
into a series of categories, charging higher rates for lower scores.
The
national average consumer’s score is 676.
Even with a low number, you can find credit. It is just a matter of how
much
you are willing to pay in interest charges. Shopping lenders will also
help
you find reasonable rates.
More Accurate Quotes
With your credit score, you can get more accurate loan quotes. A number
of
lending sites provide rate quotes without accessing your credit report.
However, you have to provide your credit standing. When you input an
accurate number, you can know that the quote you receive is more
precise.
For sites that divide credit by good, fair, or bad, use 650 as the
bottom
end of good. Fair is usually in the 600s, while bad would count as 500
or
lower.
Better Financial Offers
You can also get better financial offers when you know your credit
score.
Lenders specialize in different types of risk categories. So people
with bad
credit may find better rates with a subprime lender, rather than a
traditional lender. The same is true for people with good credit.
Knowing your credit score can help you better target your lender
search.
However, it isn’t a bad idea to start by looking at offers from all
types of
lenders. That way you can see what is available to you. Large down
payments
or cash assets can also offset your credit score, making you eligible
for
lower rates.
Here are our recommended companies for a
free copy of
your
credit
report and other credit rating resources.
Carrie Reeder is the owner of ABC
Loan
Guide, an informational website about various types of loans.
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