RSS
 

Search results for ‘credit score’

How should society react to the problems of the poor?

13 Nov

There’s a darker side to America. It boasts it’s the land of the free. It claims it’s a level playing field and everyone can make it if they try hard enough. This myth of hard work always being rewarded with big bucks is dangerously misleading to the many who hope to improve their lot. Now add in the tenet that everyone should take responsibility for their own lives. This is the land of the individual, they claim. People should keep what they earn. Everything else is socialism and evil. Society should never help the weak and disadvantaged because it only encourages freeloading. As an example, you only have to look at the campaign against reform of the healthcare industry. Raise taxes on the rich to pay for healthcare for the poor is dragging the US into the same pit as Russia and all those other communist states.

Read the rest of this entry »

 
No Comments

Posted in Financial Services

 

Getting good insurance for a good car

01 Nov

Good car, good owner, good insurance

If you care about your car enough to get it insured it means your car is lucky to have a good owner. A good car owner won’t trust his car to any place there is. A good car owner will shop around for the best possible rate and a best possible company. There is a variety of companies you can find by clicking the sites everyday. Most of them offer quotes to inform potential costumers about services the company is willing to grant and their conditions. Prices may be different but it all depends on lots of factors. Remember that your car is individual and that is how insurers see it as well. When you are to obtain a quote, please be as precise as possible. Having a good driving record, good credit history, low mileage, location of vehicle, safety features on a vehicle as well as other important details will help you get your payment reduced. But don’t think the price can only go lower. It is absolutely not true. If you took part in an accident, if you credit score is poor, if you are known to miss payments and high mileage, the insurer has a full right to raise your payments on premiums.

Read the rest of this entry »

 
No Comments

Posted in Financial Services

 

Find Out How Knowledgeable you are About Credit & Personal Finances

27 Oct

Find Out How Knowledgeable you are About Credit & Personal Finances

A national research company recently completed a survey with 1,005 men and women nationwide to gauge their knowledge of the basics of personal finance, budgeting and principles of credit, and test their knowledge of identity theft and finance responsibilities. Their findings may surprise you.

How Knowledgeable Do Americans Consider Themselves On Personal Finance?

· 65% of Americans think they are very or highly knowledgeable about personal finances.

· Do Americans understand credit scores and the impact they have on their lives?

1. 66.7% didn’t know

2. 31.7% responded incorrectly

3. 35% when asked to define a good credit score replied 700 (it’s actually 740 and above)

4. 54% responded incorrectly that age is a factor in determining credit scores (it’s not – I sold a $40,000 vehicle to a 23 year old kid with a 740 FICO once)

Are Most Americans Doing Everything Possible To Protect Themselves From Credit Fraud? And Do They Know Enough To Protect Themselves?

· Not surprisingly 52% do not check their credit report regularly

· 23% (almost 1/4) say they have never checked their credit report

· 35% say they check their credit report once a year

· 76% (the majority) are misinformed about liability for purchases if their credit card is lost or stolen

· And finally – look at this – 47% of those polled say they didn’t believe they were responsible for any of the charges (oh, yes they are!)

Is There Any Difference Between The Older Generation And The Younger In Managing Personal Finances?

· Older Americans (70+ years) are not checking their credit reports, which makes them extremely vulnerable to credit fraud and identity theft

· 46% of Americans age 70+ have never received their credit report

· 50% of Americans in their 30’s check their credit report every year

· Young Americans are budgeting more – 80% of the 18-19 year olds use a budget while only 46% of those polled 70+ do

What Percentage Of Americans Report That They Use Budgets To Manage Their Finances?

· 64% of those polled regularly use a budget

· 29% report that they change or modify their budgets sometimes weekly

· Compared to 32% who maintain the same budget to keep track of spending

· More than 36% of Americans polled say they do not use a budget to manage their family expenses

Bottom line – people are all over the map when it comes to understanding the importance of credit scores and credit protection!

For more information on how credit works MyFico.com has a great informational site.

quicken.intuit.com Quicken Online is 100% free online personal finance software. Manage your online banking and personal finances in one place.

 
11 Comments

Posted in Personal finance

 

Student Credit Cards Help Kids Build Credit History

12 Sep

Student credit cards can help kids build their credit history. A student credit card is available to kids in college and offers a number of benefits to customers. Kids can build their credit history and improve their credit score with help from a student credit card.

Teach Kids About Responsible Credit Card Use

Parents need to work with kids to teach them how to use credit cards responsibly. Experian and USA TODAY surveyed college students in 2006 and found that more than 25% of college graduates surveyed delayed buying a home, 14% waited to have kids and 11% delayed marriage because of credit card and loan debt. Ordering children’s free credit reports are a great way to get the conversation started. Parents should share their credit histories with their kids and have open discussions about the responsible use of credit cards and debt.

Warn Kids About the Risk of Identity Theft

Kids need to be warned about the risk of identity theft. According to the Federal Trade Commission, people between the ages of 18 and 29 represent the largest group victimized by identity theft. College students can order their free credit report annually and review it for mistakes. Suspicious items found in credit reports should be immediately reported to the credit bureaus. Kids also need to use caution when throwing away mail to avoid the risk of identity theft . And students should keep all personal and financial information hidden when they are in class.

Build Credit History With a Student Credit Card

Kids can start to build a solid credit history with a student credit card. Kids benefit from student credit cards, designed for the unique needs of college students. Student credit cards include rewards cards, low interest cards and balance transfer cards. Student rewards credit cards give customers cash back or rewards points for purchases. Low interest credit cards and balance transfer credit cards can be used to pay off or reduce high interest credit card debt.

Encourage kids to talk about the credit card offers they receive, and take the time to help them review before they apply.

Lisa Nichols is a freelance writer, website content strategist and marketing and PR strategy consultant. Originally from Eugene, Oregon, Lisa is currently based in Covington, Kentucky (also known as greater Cincinnati, Ohio).

 
No Comments

Posted in business credit

 

Are 0% Balance Transfer Cards as Good as They Sound?

12 Sep

Balance transfer credit cards, as the name suggests, allow you to shift the outstanding amount from your current card to another credit card – often for minimal cost. This new card might offer an interest free period or a more attractive rate of interest. If you are lucky, you may be eligible for offers in which you pay absolutely no interest on transferred funds for up to a year. You may also get rates from some credit card companies which are almost on a par with regular loan rates.

Balance transfer credit cards were very lucrative when they were introduced some time ago. However, the vast majority now charge a fee of some sort and don’t seem to offer as good a deal as before. However, if you use balance transfer smartly, then you can still save a lot of money.

Keep Balance Transfer Cards only for Balance Transfers

Avoid using a balance transfer for both purchases and balance transfers. Your repayments will be allocated to the cheaper interest, which is normally a balance transfer. Your more expensive purchases will be allocated for payment last because this allows your credit card company to gain maximum interest and earn most money from your debts.

So, to get the best deal from such balance transfer cards, you need to:

  • Opt for a card that offers 0% balance transfers, without any additional fees or surcharges.

  • Select a card that makes this offer to you for the longest possible period.

  • Avoid making any purchases from that card. Use another card which offers the longest interest free period to you for making your purchases.

  • Pay off all your debts and clear all outstanding on your 0% balance transfer card before the interest free period expires. This allows you to keep a good credit score and also prevents you from accruing interest and further debt on the initial amount your borrowed as credit free money from the company.

  • If you show that you have regularly paid off the monthly outstanding balance then you can negotiate a longer interest free period on your next 0% balance transfer card.

  • Negotiate a better, lower rate from your existing company just before your 0% interest free period is about to expire. Instead of losing a customer, the company may consider your offer seriously enough.

  • If they don’t, you can always opt for another credit card that allows you to enjoy your interest free period for a longer period of time. Become a rate tart by all means; at least you will save your hard-earned money in the long run and you will get the better of 0% balance transfer cards.

Matthew Lloyd writes for About Your Money. His articles provide users with useful advice on a variety of financial products, including credit cards. To find About Your Money visit www.aboutyourmoney.co.uk

 
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.

 
No Comments

Posted in business credit

 

Important Things to Consider When Taking Advantage of 0% Intro Apr Credit Card Balance Transfer Offers

12 Sep

All across the United States, consumers who are smart with their finances are taking advantage of zero percent credit card offers, and for good reason. By signing up for a 0% intro APR credit card deal, consumers with credit card debt and a good credit score can literally pay no interest on their lingering credit card debt for 12 months or more.

Here are some important things to remember when taking advantage of zero percent intro APR offers:

1. Many credit card companies will offer you an interest free period as a way of introducing you to their credit card. It is very important that you know and understand what the interest rate will be once that free period is over. If you are forced to pay a significantly higher interest rate after the free period you will likely wind up with a much worse deal than you had intended. If at all possible try to pay off your total credit card balance before the interest free period comes to an end. Try to find a balance transfer deal that gives you at least 6 months 0% introductory APR so that you don’t wind up making balance transfers too often.

2. Be sure that you read through all the fine print very carefully. A lot of the 0% balance transfer credit card offers include a catch: if you use the new card to make a purchase while you are in the interest free period, the APR or Annual Percentage Rate can often be quite high, even as high as 25%! Additionally, payments that you make on your new credit card with a low or zero percent intro APR will be applied to the transferred balance first, which often means you’ll get hammered with high interest charges for purchases and cash advances. A balance transfer can be a really good way to help you save money over the long term, but if you need to make new purchases you will be much better served by using cash, a pre-paid credit card, or your bank debit card.

3. Try to avoid using the convenience checks. Many credit cards will include convenience checks along with your regular credit card statements. A convenience checks is usually equivalent to a cash advance, and cash advances almost always carry the highest interest rate. Sometimes a credit card will give you a good interest rate if you use their convenience checks for making balance transfers. Just be sure that you read the fine print thoroughly so that you fully understand the terms before using their convenience checks.

There is good news about convenience checks. Some credit card companies will provide you with blank checks that are covered under their 0% intro APR balance transfer offer. These blank checks can be very useful as you can use them for whatever you want. A lot of consumers use these blank checks as a method of obtaining an interest free loan, but they can also be used to open a high-yield savings account or to purchase a certificate of deposit. Keep in mind that once the 0% introductory APR period is over interest charges will begin to accrue so it is recommended that you pay off the balance before, or as soon as, the interest-free period ends.

If you are not absolutely certain as to whether the checks you receive are included in the 0% introductory APR offer then take a few minutes and call the credit card company to ask. Whenever you call your credit card company, be sure to jot down the name of the person you speak to in case the representative makes a mistake.

4. Don’t get carried away with your credit card applications. Regardless of whether or not you are approved or rejected, if you file too many credit card applications within a short time period your credit rating could suffer a downgrade.

5. Many credit card companies own multiple credit card brands. Before submitting an application for a balance transfer, be sure that you are dealing with a credit card company that is different from the one you want to transfer a balance from. If you try to transfer a balance from one account to another, and one bank controls both credit card brands, then your application will almost certainly be rejected. Remember that inquiries into your credit report may have a negative effect on your credit rating; this is especially true if the inquiry results in an application being rejected.

If you already have two different credit cards that have been issued by the same bank or credit card company, you can usually consolidate the balances into one credit card account. If you have questions about this call your credit card company to discuss consolidating your credit cards.

6. It is very important that the account to which you’ll be transferring your balance has a high enough credit limit so as to avoid getting into trouble with fees. Some credit cards charge a fee for transferring balances, and if your new account’s credit limit isn’t high enough, you may get hit with an over-the-limit fee after e.g. the balance transfer transaction fee is added in. When shopping for a zero APR offer, try to find one that doesn’t charge a fee for transferring balances. If you go with an offer that does charge a balance transfer fee, then do your best to find out what your new account’s credit limit will be.

7. Always pay all of your bills on time. This may sound obvious, but it is very important. Credit card companies will offer the best terms to applicants with the best credit rating scores. Having a high credit score will also minimize the chances of having your application for a credit card rejected.

All the best 0%

APR credit card offers can be found at www.BalanceTransfer.cc. Information

about new

business credit cards can be found at www.BusinessCreditCards.cc

 
No Comments

Posted in business credit

 

Balance Transfer Credit

11 Sep

When a person has many or multiple credit card on hand there are many positives and negatives that they may associate with credit cards as a whole. There is the debt you acquire as your spend money, which with fees included can mean your having to pay more then you are even spending. There are also positive sides though, but many of these positives can be for only having one credit card. With any credit card you can use it as a form of second identification, if you end up needing that identification again as proof of who you are then it may be easier to only have one or you may forget which one your used or not even have that one with you at the time. If you end up even having an ambulance called for you and are in a store or restaurant you will be able to be identified immediately by what you charged or the charge card you have ready to use.

There are also negative sides, mostly having to do with having more then one credit card. When you have more then one credit card you are having to pay fees to more then one company, this can add up over time and adds to the debt that you may already have on your credit card or associated with any given credit card that you are the holder of. You also have to balance the books for every credit card and make sure to pay your bills on time or have to deal with even more fees.

When you get a balance transfer credit you are consolidating your debt and moving it to only be in one area and only have one set amount of fees associated, which can help you in many different ways over time and immediately. You are able to only have to deal with owning one card which can make your life easier in multiple ways, your credit score is slowly over time going back to what it could be as you pay off your debt and you may be able to save a great deal of money simply from this cutting down the fees that you are forces to pay.

Smartcreditchoices.com offers credit cards including 0% balance transfer, balance transfer credit and instant approval cards.

 
No Comments

Posted in business credit

 

Settling Personal Finances

11 Sep

Before one begins on any investing endeavors, one is encouraged to settle his or her personal finances. The first step in doing so is to eliminate one’s credit card debt. The average annual interest rate for the billion plus credit cards currently circulating in the United States is 16%-21%(data taken from www.fool.com).  If a person chooses to make only the minimum payment required, it will take many, many years for that person to pay off his or her principal balance; moreover, he or she will end up paying close to double, if not more, the principal in interest alone. The second step in settling one’s finances is to develop a regular savings plan. Consumers should  ideally set aside 10%, but more realistically 5%, of one’s annual income. The main implementation of this savings plan is to live below your means and don’t spend what you don’t have. The third step in settling one’s finances is to create short-term savings to “cushion” one-self from life’s unexpected, costly events. Once a short-term cash cushion is established, one is encouraged to begin long-term savings, preferably tax-deferred like an IRA or 401K retirement plan. The fourth step is to learn all aspects of one’s personal finances. For example, one should consider expenditures, such as one’s kids and/or college, insurance, home, and vehicles. The fifth step in settling one’s personal finances is to know when to consult a financial advisor. Consumers should consider using the services of an independent, flat-fee advisor for situations that are critical, complex, or require major decisions in a short amount of time.

If after reading the above steps on settling personal finances, you find yourself stuck at step 1, eliminating credit card debt, the law offices of Smith & Gromann, P.A. may be able to help you. CreditLawGroup  can also assist you with debt settlement or debt consolidation. Additionally, if you find that your credit scores have been lowered due to inaccurate, outdate, or misleading information on your credit report, please call the CreditLawGroup toll free at 800-508-0041.

The CreditLawGroup.com website of Smith & Gromann, P.A. is a multistate law firm whose practice is limited to federal consumer and banking law under which the credit reporting system operates. The firm provides cost efficient legal representation in disputing inaccurate, incorrect or unverifiable information contained on credit reports from the three major credit bureaus, Equifax®, Experian® and TransUnion® and their affiliates. The firm also provides legal representation to victims of identity theft. Visit http://www.creditlawgroup.com for more information.

 
No Comments

Posted in Personal finance

 

Save Money With A Balance Transfer Credit Card

11 Sep

It is estimated that about a third of people fail to pay off their credit or store card balances in full every month, and therefore pay interest on the balance. If that applies to you, the chances are you could save money by applying for a new credit card which offers zero (or low) interest balance transfers.

The way this works is that you take out a new credit card offering such a deal and immediately ask them to pay off the debt on your old card. The balance on your old card then becomes zero, and the entire balance goes on to your new card instead, with its zero or low interest rate.

A number of card issuers offer these deals. Zero rate offers typically last from five to twelve months. If you are confident that you can pay off the entire balance during this time, they are a good choice for saving money.

If you think it may take longer to pay off the outstanding balance, a better option may be to apply for a card which offers a low rate for the entire life of the balance (i.e. until it is repaid). American Express™ offers a fixed, low APR for the life of the balance with its Platinum card.

If you are currently paying interest on a balance with your current card, it makes sense to transfer your existing store or credit card balance to another provider. There are a few points to watch out for, however.

1. Check if there is a charge for balance transfers

Balance transfer fees are becoming more common as credit card issuers try to recover some of the money they lose by offering interest-free periods. Fees range up to 2% of the total balance. However, there are still several card providers offering free balance transfers.

2. Remember to pay off your balance every month

Even though the card issuer offers an interest-free period, you will still have to make the minimum monthly payments by the monthly due date, or you will be charged interest.

3. Avoid spending extra on the card used for the transfer

Most credit cards pay off balance transfers preferentially, so if you incur any other debts on the card, they will not be discharged until the entire transferred balance is paid off. That means any new spending will be “trapped” on the card, accruing full interest charges. If you are using your new card to service a balance transfer, therefore, do NOT use it for additional spending as well – use another card instead.

4. Switch again when the introductory period expires

If you have failed to pay off the balance completely once the 0% introductory rate for balance transfers expires, you could apply for another card and transfer your balance again. However, if you plan to do this you should always remember, in the month the 0% deal ends, to move the debt again to another 0% offer. This means you will need to apply for another card about six weeks before the introductory period ends. You will need to be well organized and remind yourself to do this.

5. Note that your credit rating may suffer

If you apply for a number of credit cards, especially at the same time, your applications will be noted by the credit reference agencies, and your credit score may suffer. The most important preventative measure is to spread card applications out. Do this and most people with reasonable income and no bad debts will be fine, though be aware that there will be a small risk to your ability to get competitive credit in future.

Having decided on the type of balance transfer deal you are looking for, do take the time to study the market and see what is available. Do not simply fill in and return the next credit card application form that arrives in the mail. Credit card comparison sites such as www.finest-credit-cards.com can make this easier for you by listing all current card offers for you to choose from, and also have a range of articles offering unbiased advice and information.

Nick Davis is the owner of http://www.finest-credit-cards.com, which aims to match you up with the ideal credit card to suit your situation. With details of all the leading card offers updated daily, plus informative articles to guide you in your choice, you will never pick the wrong credit card again.

 
No Comments

Posted in business credit

 
 
SEO Powered by Platinum SEO from Techblissonline