RSS
 

Search results for ‘Saving’

What to do when you lose both your job and your health plan

18 Nov

Health insurance has become a hot issue in US politics. With Washington making some progress in healthcare reform, this leaves Americans divided into three camps. Although estimates vary, it seems up to 50 million cannot afford private health insurance. The middle ground is help by those who do earn enough to pay for some private health coverage, and then there’s the comfortable group whose employers provide health coverage. Movement from one camp to another can be painful. It’s the difference between peace of mind and security on the one hand, and struggle and worry on the other. Because it can be a serious shock to a family to lose the health cover provided by an employer, Congress introduced the Consolidated Omnibus Budget Reconciliation Act in 1986.

Read the rest of this entry »

Incoming Search Terms:

 
No Comments

Posted in Financial Services

 

Cash Back Credit Cards and Other Desirable Offers

12 Sep

Cash back credit cards can be a really fun way to get a little something extra out of your credit cards. There’s also the bonus that, the more you use your card, the more cash back you get; which also equates to the fact that the more you use your card, the more credit you are building in your name. Having good credit is so much more than the ability to get great rewards from your cards. Ultimately, it is also about being able to live the life you want to live, without wondering how you are going to come up with the money to feed your family, find a place to live, a car to drive, etc.


If that last sentiment seems a bit extreme to you, think about it. Your ability to rent an apartment, buy a home, take out a mortgage, get a loan, buy a car, etc, is all predicated on your ability to pass a credit check and seem like a safe investment for a loaning institution. If you have bad credit, your options are extremely limited, and sometimes non-existent. If you take a look at the bad credit credit card offers out there, it will become even more clear how hard it can be to rise up from the gutters of bad credit. Such cards usually have high interest rates and low limits- great for helping people learn to be more conservative with their spending, but not so great for making large purchases.


Other great credit card offers to take advantage of- when appropriate, of course- are the balance transfer credit cards. There are several reasons why such a card would be desirable but the main reason is that if you can transfer your existing balance onto a card that has a grace period of six months to a year before you owe interest on it, you can pay off an existing debt interest free. Of course, in order to do that you’ll need to be able to use some pretty good self control, as building up more debt to pay off after your grace period ends really would defeat the purpose of the card.


Regardless of of what kind of credit cards you have, or how you use them, fiscal responsibility cannot be stressed enough. Set financial goals for yourself. Don’t just coast along hand-to-mouth, using anything extra for luxuries and fun. Save money, both in long term savings as well as in short fund goal-driven savings. Want to go play in Costa Rica? Save up for that trip, while still putting some money aside, either for retirement or for investments. Use your credit cards as tools to gain better credit ratings, as well as for tools to use in terms of their benefits, be it cash back, travel discount or a points system that gains you any number of prizes.

Written by Kacy Suther. Browse through balance transfer credit cards, cash back credit cards, low interest credit card offers. Dozens of bad credit credit card offers available at CustomerCreditCards.com .

Incoming Search Terms:

 
No Comments

Posted in business credit

 

Will You be Transferring Your Credit Card Balance After Christmas?

12 Sep

With Christmas just around the corner many people have already started purchasing their Christmas gifts and items, and despite the global credit crunch and the difficult financial climate many people have indicated that they will still be spending around the same amount that they did last year on Christmas.

Much of the spending that will take place in the run up to Christmas is likely to be on existing credit cards, as consumers will find it very difficult to get any other finance in the current financial climate and many do not have savings to throw at Christmas this year given the increase in living costs and bills. In fact, officials from the Association for Payment Clearing Services (APACS) estimate that around eleven billions will be spent on credit cards in the run up to Christmas.

If you have a credit card that charges high rates of interest but you find that using your credit card is your only option at present, then it is worth considering the fact that by transferring your balance to a 0% balance transfer credit card once the festive season is over could prove very lucrative, as it could save you a fortune in interest, making Christmas far more affordable.

For those of you that do decide to take this option there are a couple of things that you need to bear in mind. Firstly, recent reports have shown that the number of 0% balance transfer deals has been falling, and this makes it more important to do your research as early as possible and to compare credit cards and apply for your card early on to avoid disappointment.

Another thing to remember is that you should use the new credit card for balance transfers only and not to make purchases. One industry official has advised: “It’s a good idea to be prepared for January by taking out a good credit card deal. But don’t use it for purchases because your payments will always go towards the cheapest debt first. Though some cards with 0% deals extend them to purchases, this is usually only for the first few months.”

Reno Charlton, award-winning writer, shares her financial expertise as a contributing columnist for Credit Card Compare, where you can compare 0% balance transfer credit cards and read the latest news on 0% balance transfer deals.

 
No Comments

Posted in business credit

 

Benefits Of Balance Transfer Cards

12 Sep

If you need help keeping track of all your credit card balances and you are tired of all your monthly payments being swallowed up in interest, then a balance transfer credit card is for you.


With the balance transfer card you would be able to transfer your various debts onto one account and reduce your monthly credit card payments. The benefit of this is that more of your money would be used to pay off your capital as the interest is consolidated as well.


In order to make the most impact on your debt, you would need to make sure you know exactly what your new card offers you as this could determine if transferring your balance is worth it or not.


Your new card should carry a 0% APR on balance transfers so that you would not face a charge at this point. Some cards also carry a 0% APR on all new purchases which means you do not have to worry about paying interest in the introductory months. If there is a balance transfer fee, be sure to factor this into your monthly payment and see if you would be better off.


The length of the introductory period is important; the longer this period is the better. Most balance transfer introductory period averages at about 12 months, but look around as there are many deals on the market.


As spending on everyday items contributes to your increasing credit card balance, look for cards that have added benefits to you. If you use your credit card for gas purchases, look for balance transfer cards that give you cash back on gas and auto maintenance purchases. This could provide a hefty savings on your monthly automobile expenses.


Cash back on normal purchases are available on named cards and this would be another saving you would benefit from. Most of these cards have unlimited cash rewards that do not expire, but do not take it for granted, always check the small print.


When deciding on your balance transfer credit card, look for one with no annual fee and pay close attention to the reversionary APR. No annual fee means that is one less charge you have to pay at the end of the introductory period. The last thing you want to do is pay all the money you saved in interest over the introductory period towards an annual fee.


Likewise the reversionary rate shouldn’t be higher than any of your current credit cards; you should search out the lowest rate possible, the less interest you have to pay on a monthly basis the faster your card balance would go down.


When you add up all these benefits, they provide with you with great savings as you are able to spend less on interest and earn cash back on your necessary purchases. And the more you save on expenses the more cash you have to spend or pay towards your balance in order to reduce your credit card debt.

 
No Comments

Posted in business credit

 

When Credit Card Balance Transfer Is for You

12 Sep

There was a time when my friends and I found that we were lagging way behind in our credit card bill repayments. There are the monthly insurance premiums, mortgages and car loans to think of, and we were not sure if our salaries (combined with our respective husbands’ salaries) could take any more load.


A balance transfer was at the back of my mind, but I did not have enough knowledge about it to even have the courage to bring up the topic. Lucky for me that a friend of mine was working at a finance company. She gave me a lot of great advice that helped me out.


What is a balance transfer?

If you have not been able to pay for your credit card debt, you can transfer the balance to another card issuer. By doing this, you can avoid paying hefty amounts as late fees or other kinds of penalties. Many people opt for balance transfer because another issuer is offering lower interest rates.


Why is balance transfer a good idea?

If you have been unable to pay off your credit card balance, it is most likely that the finance charges are adding up to your debt on a monthly basis. If you avail of a balance transfer credit card, it is like starting afresh.


You do not have to worry about being charged with late payment fees as long as you keep paying for the minimum amount due every month. It is always better if you pay more of course. Take note of the fact that several balance transfer card issuers charge relatively low interest rates. You could end up saving quite a bit.


What is the procedure for obtaining balance transfer?

Well, you certainly cannot avoid shopping around and looking for balance transfer card vendors. Make sure that their interest rates are much lower compared to your old card issuer – it’s possible to get 1% to 2% interest if you take your time negotiating and researching for a reputable company.


In fact, many banks are willing to offer balance transfer credit cards at no extra cost. Some will give you a grace period of six months to a year, where in they charge a lower interest on your transferred balance. Because these card issuers want your business, they will be more than happy to accommodate you. You could end up with a new card within four weeks.


How is my credit score affected with balance transfer?

This is the tricky part. If you are just going to transfer the balance to another card, your credit score is safe. Some say that it is better to close the old credit account, but that is not true in most cases. Not only does part of your credit history get “erased”, your debt ratio will be affected negatively especially if your new card has a lower credit limit.


On the other hand, having an open bank account will also affect your credit score, but not as much as closing it. The best thing to do is to keep both accounts open. You could get rid of your old credit card or you could continue to use it, even as you make payments on the new card.

For credit cards with cash back and balance transfer credit cards, visit us. We will get you the best deals for credit cards with rewards.

Incoming Search Terms:

 
No Comments

Posted in business credit

 

Lifetime Balance Transfer

12 Sep

The majority of people with a large credit card debt either stick their head in the sand, ending up paying hundreds in interest, or they pay a fee to move their debt to one of the popular 0% balance transfer credit cards on offer.

However, many of those people who switch to one of these cards don’t actually clear their balance before the six or 12 month introductory offer expires. This leaves them in the same situation as before – paying an average of 17.27 per cent interest (CreditAction.org, 2007)

There is an alternative

Compare balance transfer credit cards before availing one. Choosing a lifetime balance transfer credit card offers you a way to really make a dent in your debt without a six or 12 month constraint.

Despite their name, most of these cards don’t actually offer a “lifetime” rate. Rather, they offer around five years at a very low rate on your transfer – between around 3.9 per cent and seven per cent if you shop around.

Remember though, just because you have a low rate doesn’t mean you’re not paying interest – you still want to clear you debt as quickly as possible. Undertake research to find the best balance transfer credit cards.

Will it work for me?

These cards particularly suit people who have a large debt that they won’t be able to clear before the end of a promotional period on a zero per cent credit card.

Also, banks have long been wise to those people who continually switch to avoid paying off their debt and any interest. This means that you’ll not only have to pay a fee of around three per cent every time you want to transfer to a new card, you might also find yourself being refused your next card as the crackdown on consumer credit hits the high street.

Don’t use it for spending though

While these cards are great for clearing hefty debts, they shouldn’t be used for spending. Payments against all credit cards are tiered so that you pay off the “cheapest” debt first.

This means that if you make a transfer but then go on spending on that card, any payments you make against your debt will go towards paying off the balance transfer first, and only once that is cleared will you be able to start paying off all those things you’ve bought.

Even if your card carries a 12 month interest free offer on purchases, by the time you start paying for those purchases you’ll probably be back on the standard rate.

Is it for me?

You’ll still be paying interest – so you’ll be less likely to ignore your debt – but it will be at a much lower, more affordable rate.

So if you’ve been weighed down by the burden of your debt for too long, a balance transfer credit card could be just what you need to finally be debt-free.

Stephanie Wendy writes for CreditChoices.co.uk that offers price comparison tools and consumer guides for balance transfer credit card, best balance transfer credit cards, 0% balance transfer credit cards and savings accounts.

 
No Comments

Posted in business credit

 

All That you Wanted to Know About 0% Credit Cards

12 Sep

Making 0% balance transfer credit cards work for you

If you’re carrying around a large credit card debt, shouldering the burden of all that interest, it’s probably time to switch to a zero per cent credit card that could save you hundreds of pounds in unpaid interest.

How do they work?

Zero per cent credit cards offer you a break from your interest payments, allowing you to transfer an existing balance and make a real dent in your debt. You’ll have to pay a fee to move your money – typically of between two and three per cent of the total balance – but by choosing the right card, you’ll still be able to save loads.

Find the longest offer

The length of the promotions on zero per cent balance transfer cards vary, usually from between nine and 15 months, and you should look for a card with the longest possible offer. Rather than just taking the card that’s offered by your bank, use a comparison site to find the longest interest free period for the lowest transfer fee.

How much will it cost me to transfer my balance?

When they were first launched, interest free balance transfers didn’t charge customers for moving their money, but as increasing numbers of people took to being ‘rate tarts’, moving their debt from card to card without ever paying it off or paying any interest, banks began charging balance transfer fees.

But even if you have to pay a three per cent fee on a balance of £2,000 – which would work out at £60 – you would still save much more than that by taking a year off from the average APR of 17.31 per cent (CreditAction.org).

Make it work for you

Interest free balance transfers are great, but you need to make sure that you don’t get caught out, ending up in even more debt than you started with.

Your interest payment holiday is a great way to clear your credit card debt once and for all. However, many people end up using it as an excuse to build up new debt on their cards.

But balance transfer credit cards shouldn’t be used for spending. If you still want to shop on a credit card you should use a different card, preferably one that offers interest free purchases or cash back.

Tiered payments

Credit card companies allocate your repayments to different “segments” of your debt. This means that any repayments you make will go against the “cheapest” debt – your interest free balance transfer – and any spending you’ve done since transferring the balance will continue to accrue interest at the standard APR until you’ve paid off all the “cheaper” debt.

Other traps

You also need to look out for things like minimum monthly spending, higher interest on instant cash transactions and make sure that you clear your debt before the promotional period ends or you’ll find yourself back where you started.

Stephanie Wendy writes for CreditChoices.co.uk that offers price comparison tools and consumer guides for balance transfers credit cards, 0% balance transfer, 0% balance transfer credit cards and savings accounts.

 
No Comments

Posted in business credit

 

Credit Card Transfers: When Should You Use Them?

12 Sep

Credit card transfers allow you to move the balance of one credit card to another. By doing this, you can save money and help to pay down debt faster. But you have to use them correctly to avoid digging yourself into a financial hole. You will see more benefits by making the move in specific situations, but not every situation will warrant the use of a credit card transfer. If you do qualify for this type of offer, you should consider ALL of the determining factors in how you can best utilize them to save money.


Using Them When Rates Are Lower


One obvious time to consider using balance transfers credit cards is when the interest rate on your current lines of credit are higher than the ones you will pay on the new credit card. It makes sense to consider this type of move for any situation in which rates are higher on your existing card balances. This is particularly beneficial when the interest rate is an introductory 0 interest offer.


In some situations, lenders will offer six months or even more as an introductory 0 APR period in which balance transfers do not incur finance charges. During this time, moving your balance will help you to pay it down faster and without any additional finance charges accruing all the while.


Consolidating Balances


Another reason to consider using balance transfers credit cards is when you need to consolidate several high interest card balances. If you have a larger credit line on the balance transfer credit card, consolidation of several lines of credit, assuming the interest rates are the same or lower on them, will undoubtedly help you save money, and in some cases, that savings can be significant. Doing this will allow you to pay down your debt more aggressively each month without having to swim through the head wind of significant finance charges piling on your obligation. Having only one payment to make is nice too, helping to make monthly bill payment a much easier process.


When Not To Use Them


There are some situations in which credit card transfers may not be beneficial and even outright detrimental to your financial well-being. For example, if you are working on paying down a big chunk of debt, it might seem counter intuitive to be opening yet another line of credit. But the thought of a 0 APR introductory rate for 6 months is just so tempting. Opening another credit line is not necessarily perilous, but making the mistake of not paying off the balance within the time frame of the introductory period can very well be.


Some card issuers will even retroactively charge you an exorbitant interest rate on the balance that you carried over the introductory period, if the balance is not paid down entirely. Most card issuers will merely charge you a higher APR on the remaining balance, but be absolutely sure that you know what the terms and conditions are for the balance “pay down” before applying. In those instances, accidentally missing a payment or not paying down the balance can be outrageously expensive. So, buyers beware!


When using any type of balance transfers credit cards, make the smart move for your situation. In many cases, the right credit card transfers can save you money and help you to simplify your life. With some excellent offers available currently from card issuers, it makes sense to work towards using these options especially when there is no fee or nominal fee charges for making transfers. Yet, each situation should be considered carefully and individually.

Robert Alan is an editor for www.CreditCardAssist.com and frequently contributing writer on various credit card-related topics. Find more free information, tips and advice from Robert on the http://www.creditcardassist.com/balancetransfer/creditcards.html “>credit card transfers page at CreditCardAssist.com.

 
No Comments

Posted in business credit

 

The 7 Rules of Credit Card Balance Transfer

12 Sep

Credit card balance transfer is a great way of consolidating your credit card debt, and also finding a way of avoiding the terrible burden that debt can bring. Transfer offers are in high demand and many credit card issuers highlight their balance transfer features up front as part of their overall advertising package. These days the credit card companies are in heavy competition with each other to get your business.

But have you ever considered the dream ticket of always having an interest free credit card at all times, no matter what the circumstances? Well here is a check list of seven things you must do in order to get the best out of it.

1. Always make sure that your credit card balance transfers are carried out on time and with no overlap periods from one card to the next, which will cost you money in nasty interest charges. Make allowances for delays in the post when notifying banks and credit card companies by mail, and also note that different banks will move at different speeds when responding to requests.

2. Make sure that 0 balance transfer credit card offers are always current and available at the time you apply. There’s no point in making a mental note of an offer and then applying for it after it has expired.

3. Interest free balance transfer credit cards must be exactly that; be careful and look out for any hidden charges in the small print. A 0 APR credit card should be exactly what it says it is.

4. The type of card to transfer balances from is crucial. Store cards tend to have a higher rate of APR than normal credit cards, so consider transferring all these balances on one or more low interest card. You can end up saving a substantial amount of money. Proper use of the credit card balance transfer feature can be useful and convenient, and a vital way of avoiding credit card debt.

5. Trust your source. A low interest credit card or 0 interest credit card should be easy to identify, preferably from a source where you are able to make comparisons between different types of card. Ideally you should deal with a source which is impartial and which does not promote one credit card or bank over another. Also, your source should provide easy to read and understand comparative charts to help you make such decisions swiftly, without undue pressure, and without any fear of being misled.

6. Keep a note of the exact date of when your 0 interest period finishes, and apply for your new credit card balance transfer at least two weeks before that date.

7. Try and ensure that your interest free credit card balance transfer facility is flexible and quick. At present it is the norm to put details of your credit balance transfers in writing at the time of application. Bear in mind that both parties need to know what is going on at the same time. Make it easy for everyone, including yourself.

Gordon Goodfellow is an Internet technologist who lives and works in London. His credit card sites automatically alert customers about interest free credit card balance transfers .
http://www.credit-card-transfers.com
 
No Comments

Posted in business credit

 

Three Tips to Finding the Best Balance Transfer Options

12 Sep

When it comes to balance transfers, there are many benefits for those that find just the right opportunity and take the best of them. There are plenty of opportunities here, though. The balance transfer is one of the best ways to save money in the long term and the short term. If you invest a bit of time in finding the best opportunity, you will find rewards in the long run. That is because these balance transfer credit cards are designed to save you money if and only if you use them correctly.


How They Work


A balance transfer credit card sounds like a good thing, but do you know how and when to use them? There are several key elements that come into play when you are considering them. So, take a look at these points.


1.Determine if the balance transfer offers a lower APR than you’re currently getting. the annual percentage rate on credit cards is the most essential piece of the credit card puzzle. It indicates, as a matter of fact, what you will pay for the credit card purchases you make over time. On the balance transfers you are considering, determine what the rate is. If it is higher than you are currently paying, you are simply wasting your money by moving it. A lower APR is an opportunity to save.


2.Determine introductory APR’s. One of the largest incentives is introductory rate on a balance transfer credit card, which is generally either 0% or comparably very low. This number is a crucial number to take into consideration. How long will you have to save? What is the APR after that introductory period is over? If you do not pay off the credit card within that introductory phase, you are likely to pay more than you are now in APR with the new card. If not, then this is an ideal choice.


3.Determine the credit limits. When applying for a credit card of any type, you need to consider if the credit limit meets your needs. If you are considering balance transfer credit cards, if they do not offer you a sufficient credit limit when you need to make the move, then it is worthless to you. But, in most cases, during your application phase the credit card company will ask if you are considering this feature. If so, then tell them how much you are looking to use a balance transfer for. It will not guarantee a higher credit limit, but it can’t hurt to request it for that specific purpose.


Taking the time necessary to determine just what it is that you need, what it will cost you and who can offer you the best deal is what you would do for any purchase. Therefore, when considering a balance transfer credit card, your goal is the same. Take the time to analyze your needs. Determine which balance transfer credit cards are capable of providing you with the interest rates and credit and balance transfer limits that you need. Determine what it will cost you in the long term as well in order to determine if it is the best product for you. Then, select the most suitable balance transfers option that fits your needs.


When you follow this plan, you will find benefit and reward in balance transfers. If you do not use it, you may find yourself paying more and saving less than you originally intended.

Robert Alan advises that you visit CreditCardAssist.com to find out more about how a balance transfer credit card works.

 
No Comments

Posted in business credit

 
 
SEO Powered by Platinum SEO from Techblissonline