Monday, April 30, 2007

Which Credit Card?

Bewildered by the sheer assortment of debit entry cards and credit cards? Here is a dislocation of some of the chief types of debit entry entry and credit cards available:

Debit card

You can utilize a debit card to purchase commodity and services. A debit entry card is very much like a cheque, unlike a credit card, you pay for commodity consecutive away and the money come ups out of your account quickly. The amount you pass using a debit entry entry entry entry card is immediately deducted from your current account.

A debit card allows you to do purchases whereby the money is taken consecutive from your current account, the benefit of a debit card is that your finances are kept up to day of the month immediately, without having to wait for a monthly measure as is the lawsuit with a credit card.

Your banking establishment issues you with a debit card. Debit cards offer less protection than credit cards in the event of a charge dispute. In addition, if your debit entry entry card is stolen, it is possible that your debit card account could be emptied. Most debit entry cards have got a Switch/Delta/Solo/Electron symbol on them. If you go overdrawn you will pay interest on the amount due.

Cash card

This allows you take out money from a cash machine (ATM). To utilize it, you'll need a Personal Designation Number (or PIN) which your bank directs you. Each clip you utilize your card at a cash machine, you'll need to cardinal in this number.

Credit card

A credit card allows you purchase commodity and services up to a set bounds before you pay for them. A credit card stands for a loan understanding where you are offered credit, providing you pay off a minimum amount each month. You can charge purchases up to the amount of your credit bounds and pay for them later.

If you clear your balance in full each month, you don't pay any interest on the money you have got spent. But, if you don't, you'll normally have got to pay at least 3-5% of the balance, and interest will be charged on the outstanding balance. Some cards charge you an annual fee.

A credit card allows you to dwell now and pay later. When you successfully apply for a credit card, you will be advised of your credit limit. Guarantee you remain within it, as exceeding it could ensue in either your card taken away from you or being charged interest on the extra credit you incur.

Charge Card

This is very similar to a credit card, although the monthly balance must be paid in full. An illustration of a type of charge card would be an "American Express" card.

Cheque warrant card

If you're paying for commodity or services with a cheque, you'll probably be asked for a check warrant card. This agency the bank will normally pay your check up to the amount guaranteed.

Store Card

A restricted word form of credit, shop cards enactment as credit cards in those stores that the card is accepted. Purchases are made using the card, and then a consolidated measure is sent at the month's end, which is then settled in a mode similar to a credit card.

Deciding which plastic card to utilize can be confusing but it can assist you to attain a determination if you cognize what you desire to utilize the card for.

If you just need it as a replacement for carrying cash, rather than usage a credit card, you may as well utilize a debit entry card, which takes the money from your bank account directly.

If you like to pay your balance off each month, a charge card might accommodate you.

If you desire to pay off your debt in instalments, take a credit card.

You may freely reissue this article provided the author's life stays intact:

Sunday, April 29, 2007

BPNA launches two new MasterCard credit cards

27th April 2007



By Julia Chan



Chicago-based financial services provider Banco Popular North America has introduced two new credit card products in collaboration with credit card issuer MasterCard, namely the Banco Popular platinum MasterCard card and the Banco Popular classic MasterCard card.


The Banco Popular platinum MasterCard is an unsecured program offering an introductory 0% APR for balance transfers for six to 12 months. In addition, the card has no annual fee and automatically enrolls qualifying customers into the Popular rewards loyalty program. Other benefits include car rental insurance and purchase assurance.



The Banco Popular Classic MasterCard secured program, which is aimed at customers with little or no credit history, as well as customers wishing to rebuild their credit history, also has no annual fee and customers receive the same card benefits as the platinum cardholders enjoy. However, these accounts are secured by opening an interest-bearing Banco Popular North America (BPNA) savings account with a minimum deposit of $500 and a maximum of $5,000. The credit limit matches the deposit dollar for dollar.


Other benefits of the new MasterCard offerings include a MasterCard zero liability policy for fraudulent activity, access to 1.2 million ATMs globally, worldwide acceptance at more than 25 million locations, and a bilingual customer service.

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Saturday, April 28, 2007

General Tips on Credit Cards

Credit card or plastic money is ubiquitous today. Today they are treated as more than of a necessity than just a commodity. Thus it is indispensable that you not only utilize them properly but also take proper care of them. The following listing is a digest of some tips on credit card management:

1. Never chose a peculiar credit card because your friend or person else have chosen it. Instead basal it on your needs.

2. Compare assorted credit cards before arriving at the right 1 for you.

3. Always mark at the dorsum of your credit card, as soon as you have it. This is an of import credit card protection mechanism.

4. Protect sensitive information/details about your credit card e.g. PIN. Never uncover the inside information to anyone.

5. Destroy any mails containing such as the inside information about your credit cards. Fraudsters might be scanning your garbage for such as information.

6. Bash not share your credit card with friends, household and others. Apply for supplementary cards if you necessitate one for your household etc.

7. Never use more than than 75% of your credit limit. This volition aid in containing your credit card debt and also in maintaining a good credit rating.

8. Be on time in your payments. If you haven’t received your monthly bill, enquire with your credit card supplier. Non-payments and late payments maculate your credit rating.

9. Never allow your credit card travel out of your sight.

10. There is no magic wand for debt elimination. So return measurements for getting out of your credit card debt. This includes things like controlling your credit card usage, using cash on some occasions, debt consolidation etc.

11. In lawsuit your credit card gets lost or is stolen. Immediately inform (call) your credit card provider to get it invalidated. Keep this phone number separate from your credit card.

12. Be on time in advising the change of computer address to your credit card supplier.

13. Be aware of assorted offers / dismisses that accompany your credit card. You never cognize when one might turn out utile to you.

14. Bash not error credit card for free money or a lottery. Remember that you will have got to pay for it. So always lodge to your budget.

15. Check if one of the particular credit cards e.g. student credit card, small business credit card is better for you.

16. Always read all the instruction manual supplied with your credit card especially the 1s related to fee/commissions etc.

17. Deliver rank rewards in time. Don’t allow the points get expired. Never go forth them unutilized when shutting your credit card account.

18. Take professional advice if you are too deep into credit card debt.

19. Never get lured by all the free offers on your credit card and end up disbursement thousands of vaulting horses just to recognize later that you can’t actually pay it back in time.

20. Never apply for too many credit cards just for manner sake. Even you don’t usage them you might still be paying annual fees and them and moreover why maintain something you don’t need.

Friday, April 27, 2007

All About College Credit Cards

College credit cards are the credit cards that have been specially designed for college students. College credit cards are more popularly known as student credit cards. College credit cards allow the students to experience the benefits of credit cards much earlier in their life. Through college credit cards, the college students are able to learn more about credit cards and their use. In fact, for most of the students, their college credit card is their first credit card that acts as a gateway to the world of credit cards. Some other students might have previously used supplementary credit cards linked to their father’s credit card account; however, for such students too, their college credit card is the first one that is truly theirs.

College credit cards are not very different from other types of credit cards in the basic sense; they function in the same way as any credit card would. However, there are some differences, which basically arise from the fact that college credit cards are used by people who have no prior experience with credit cards and who perhaps don’t understand the concept of credit cards completely. Hence, the credit card supplier is at risk with issuing credit cards (college credit cards) to such people whom he is not sure about. Most of the students don’t have a credit history either. In such a case, the supplier of college credit card cannot be sure of receiving the credit card bill payments in time (and even receiving them at all). To counter such risks, the supplier of college credit card requires the parent of the student to co-sign the college credit card application form as a guarantee.

Moreover, the credit limit on college credit cards is generally around $500-$1000 per month, which is lower than what it is for other credit cards (this credit limit is generally sufficient to fulfil the typical needs of a student). Another risk mitigation instrument used by the college credit card suppliers is the interest rate or APR. The APR on college credit cards is generally higher than that for other credit cards. Again, this is done to dissuade the students from overspending on their college credit card (and finally not being able to pay their credit card bills).

However, if we were to look at these impositions in a positive sense, we would find that these are actually in favour of the student (who is still getting trained to take on the real world of credit cards). Moreover, college credit cards also help the students in establishing a (good) credit history which is another important benefit that becomes handy when the student needs any type of loan at a later stage in his/her life.

So, college credit cards are really something that every student should consider going for.

Thursday, April 26, 2007

Easy Tips for Your Late Credit Card Payments

There are three reasons that you might have missed a payment on your credit card: either you can’t afford to pay, the payment didn’t get there in time or you just plain forgot. For whatever reason, there’s one thing you need to do, and quickly – get on the phone.

Then, apologise like you’ve never apologised before. Don’t panic, stay calm, but make it clear to the customer service representative that you’re very sorry. Say that things like this never happen to you. If you just forgot, then tell the truth about what happened. But if you can’t afford to pay, then you should say so too.

You will be surprised at how sympathetic credit card companies can be if you phone and apologise. After all, the sensible ones want to keep you paying interest to them for a long time to come, so it’s not really in their interest to punish you.

Remember to show your appreciation if they let you off. Promise that it won’t happen again. Whatever you do, don’t get angry or frustrated. You need their goodwill and to be in their good books.

However, if deemed necessary, you may also want to show that you are willing to transfer your balance elsewhere if they won’t let you off this one mistake. Credit card companies will usually be more accommodating to your request once you make this known.

You need to do everything you can to persuade them not to add your late payment to your credit report. Any negativity in your credit report may adversely affect your applications for any credit. Remember that any late payment can be a black mark against your name for as long as ten years.

On the other hand, if the worst happens and it does get onto your credit report, don’t worry excessively. As long as there’s only one late payment in a year or so, it doesn’t matter too much. It’s the people who consistently pay late who get the truly terrible credit ratings.

In the future, remember to make payments early. This goes especially for the people whose payments didn’t make it in time. It is just not prudent to wait until the day before the deadline to make your credit card payment. Many things can go wrong at the last minute.

In a nutshell, it’s generally a bad idea to let bills of any kind stack up until you get around to them. Review your bills regularly, pay on time and you’ll live a much less stressful life.

Business need a good credit history

Just like in your personal life, it is a necessity to build good credit for your business to ensure its future growth. Business credit card: Most vital financial tool your business will ever need

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Tuesday, April 24, 2007

Business Card Reader - Maximize Your Contacts By Using A Business Card Reader!

If you are one of the many who seems to spend a lot of time being given business cards during your working day and just do not have the time to start inputting the information into your contact manager on your computer and wonder what you should do with them (other than throw them into the bin). Well help is at hand. So instead of just letting them sit on your desk or in a drawer gathering dust why not get yourself a business card reader. In fact many people put of setting up a database into which they can enter all the details on the business cards that they receive because it can be such a tedious task. However with the use of a business card reader this task can be completed in minutes rather than hours.

A business card reader is a small card scanner which allows you to quickly can business cards and then converts them into text. Once converted into text you can decide whether you want them to be placed in your Outlook contact list or you can use the software that comes with them in order to organize your own database.

Certainly when they first appeared on the scene business card readers were over priced and considered to be a frivolous piece of computer equipment so many companies would spend their money on more important things. However as you will soon discover the prices of these card scanners have dropped dramatically and now becoming a very important part of everyday office equipment.

This type of card scanner is particularly in both CRM and Sales orientated environments as no longer does it mean time is being wasted in searching for the information that is required with regard to a particular client. Once the information has been in put into the database on a computer then others can easily gain access to it as long as they have access. This is particularly great for sales staff who when away from the office are able to gain access to their list of clients just by opening up the database on their own Pocket PC, smart phone or Palm OS device as they software provided with a business card reader allows for these devices to be synched to the database.

So if you are looking for an easier way to get all the information from all those business cards you have sat on your desk gathering dust then investing in a business card reader may be a good way to go.

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Sunday, April 22, 2007

Using Credit Cards Wisely

Using credit wisely is a good wont that, with lone a small financial education, you can learn quickly. Using credit cards wisely will enable you to salvage money by avoiding late fees or punishments for exceeding credit card limits. You can even learn how to pay NO interest and have got your credit score reflect the fact that you are using credit cards wisely! Credit cards are not evil, nor are they a problem provided you learn to utilize credit cards wisely.

Wise credit card usage intends making payments on clip and avoiding having too many credit card accounts. Condense your credit cards in to one or, at the most, two credit card accounts to assist you concentrate your financial decisions. By using credit cards wisely, you will not happen yourself juggle credit card payments.

Using your credit cards wisely gets with a few credit basics. Keep in head that credit cards are not a problem unless you utilize them incorrectly. Unwise credit card usage means, for the average consumer, letting the balance go on to construct from calendar calendar month to month. Credit card companies petition payment every month, so take the intimation and usage credit wisely by paying your credit cards completely every month, just like your electrical bill, or your mortgage payment.

Using credit cards wisely also intends taking advantage of the convenience of credit cards by using them like cash, disbursement only if you will have got the finances for payment that month. Let the credit card company maintain your records for you by itemizing each purchase and managing your account. Then, in order to avoid finance charges, wage the credit card balance in full every month.

Use credit cards wisely to allow you the freedom you need in today's society without the fuss of carrying cash or authorship checks. Don't allow the credit card balance to turn unless you have got a existent emergency. If you make have got got an emergency, you'll have the credit line unfastened for use. By paying off the credit card balance every calendar month you keep a good credit line and enjoy a good credit score. And, using your credit cards wisely guarantees your credit evaluation will only travel higher.

Copyright (c) Greg Aldrich

Saturday, April 21, 2007

Making Money with Credit Cards Instead of Spending Money

Is it possible to actually do money with credit cards
instead of just using them to pass money? Well, of course of study for the large credit card companies and
banks. But how about for the average person? Are it really
possible for the average individual to do money in the credit
card industry?

The reply is clear. Absolutely.

Here is how it works. Large companies in all kinds of
industries are willing to pay a good amount of money for
leads. Insurance companies will pay website proprietors and
others a good amount of money to supply leads for people
interested in purchasing life, car or home insurance. Mortgage
companies are willing to pay first-class amounts of money per
lead for people looking to purchase homes or refinancing existing
loans. There are a eternal amount of industries looking to
pay for good quality leads and there are people and
companies who are making billions selling them. The
lead business is a multi billion dollar industry in itself.

Now, the average person, no matter what their income degree
is, have a opportunity to get in on making money from leads.

Especially from credit cards!

Why especially? Because it is so easy to make it is almost
hard to believe. The credit card companies and the banks
give away free credit cards as you all know. This is common
knowledge. However what isn't known so well is the fact that
others can mention people to a certain credit card company and
that individual will get paid for just having that individual get a
free credit card. Even if they don't utilize it. It is
considered a lead for the credit card company. The best sort
of lead because the possible client will have got that credit
card in manus and can utilize it at any time.

Because this is such as a good "lead" for the credit card
companies they are willing to pay a important amount to
the referring person. Right now the average referral amount
person gets is around $35 and it can be as high as $55! Yes, you can do $55 for having individual get a free credit
card even if that person doesn't utilize it. But the credit card
companies cognize what they are doing and recognize that most of
these "leads" will eventually utilize the cards and they will
do a profit. There is so much competition among these
companies they are will to pay us terrific amounts.

Lucky us.

There are different ways to take advantage of this terrific
opportunity.

1. Rich Person a website of your ain with a choice of many
different credit card offers.

Here is a website that I have got for this purpose;

www.usacreditcarddirectory.com

With my website I am able to offer over 60 different high
quality credit cards to people with many different
qualities. It is a credit card directory and it gives the
client 1 topographic point to compare the options available.

For a very sensible terms you can have got your ain website
with the same choice as mine. Then it is your
duty to publicize the land site and get people to it so
you can have got people get the credit cards for free. The
website come ups with aid to do this though in the word form of a
forum, pictures and articles on how to make your website work. The possible here for making huge amounts of money from
creating leads for the credit card companies is very real. The advantage for having your ain domain name and website is
that you can get the search engines to direct people to your
land site and that is free traffic and sales. Once you get it
going it can travel on and on. While you sit down back and ticker your
bank account increase.

2.For person who doesn't desire to pass the money to get
their ain website there are other ways and this is the best
I have got establish for making important amounts from providing
credit card leads. It doesn't cost a dime to begin this
business and you begin out by getting your ain free credit
card.

In short, what you need to make is simply mention people to your
free affiliate website like this and have got them subscribe up to make
the same thing as you, go a free affiliate and get a
free credit card. Every clip you get person to do those two
simple undertakings you will make $10. Now because this is a
web marketing company you will also do $2 for every
individual that your referral gets to subscribe up and get a free
credit card. This actually travels down 10 degrees deep. Bashes
that sound easy enough? Just have got got people get free credit
cards and then have them make the same thing. Easy.

This is how you can do money with credit cards instead of
disbursement with them. Try it out. It is more than enjoyable this
way.

Thursday, April 19, 2007

The Advanta Platinum Business Cards Simplifying Business

Advanta was established in 1951 and there are two banks under Advanta namely Advanta National Bank and Advanta. Advanta is renowned for the creative and individualized financial service it offers to its customers as well as the proficiency of its knowledge about the financial industry and managerial expertise which it uses to its advantage to cement its relationships with its clients.

Advanta offers two types of Advanta business credit cards and Advanta Platinum Business Card is one such card.

Target Clients

Advanta Platinum Card is specially created keeping in mind the businessmen who want to combine all their business expenses onto a single credit card account. These people want to pay everything related to the business through a credit card and at the same time need a higher credit line.

Key Features

Advanta Platinum Card has no annual fee with an initial 12 month period 0% APR i.e. 0% interest rate on purchases and balance transfers. After the expiry of introductory 12 months, the APR for purchases and balance transfers is reasonable. The card comes with an exceptionally high credit line of $50,000. The design of the card can be customized to suit the customers business needs.

Other Benefits

Advanta Platinum Business Card is accepted at millions of locations in the world over. Some of the benefits that Advanta Platinum Business cardholder can enjoy are attractive discounts on products and services from retailers and merchants, online access to account information and services including statements and management reports, customized checks and billing date. The online information is compatible with both Quicken and Microsoft Money software.

The card provides auto rental insurance and protection of purchases and warranties. Also, the Advanta Business card offers automatic theft and damage protection.

Reward Program

Advanta Platinum Business Card MasterCard holders can take advantage of the reward programs and earn a point for every dollar purchase made with the card. There is no upper limit for points that can be accumulated in a year. These points can be exchanged for travel rewards or attractive cash rebates.

Businessmen who occasionally carry a balance and plan to take advantage of the additional benefits and services (especially the retailer and merchant discounts) will benefit most from using the Advanta Platinum Business Card MasterCard. The rate however is a little higher compared to that charged to an individual with good credit, but it is reasonable for those who don't always carry a balance on their account.

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Tuesday, April 17, 2007

Need a New Credit Card? Let the 3 Ps be Your Guide

You've decided you need a credit card but......

Are you buried under an avalanche of unsought postal application forms? Are you blinded by the bewildering array of ads in black and white mass media and on television screens? Are you puzzled by the nimiety of promotional stuff from your bank, or other companies you make business with?

When it come ups to applying for a credit card, information overload often forestalls people from making a rational, informed decision. The simple strategy suggested here will allow you to quickly place the to the point information you need, narrow down your choices, and do it easier to determine which card is the best one for you.

Whether you are applying for your first credit card or are adding to your portfolio of plastic, these guidelines will assist you focus. Used in conjunction with an online credit card directory, the full procedure of identifying and applying for a credit card will be simplified and speeded up.

THE STRATEGY:

Firstly, learn the lingo - understand the terminology and how each characteristic will lend to your credit costs. http://www.federalreserve.gov/pubs/SHOP/ is an first-class beginning of elaborate definitions.

Here are the chief terms you need to understand in order to compare credit card deals:

A.P.R - annual percentage rate of interest. Rates can be tiered, fixed or variable. Different rates can apply to outstanding purchase balances, cash advances, and balance transfers.

Introductory A.P.R. - A reduced rate for a set clip time period (this varies), after which it returns to the chief A.P.R.

Fees - some are waived and others are charged at a level rate or as a percentage of the outstanding amount. Fees can be charged for card usage (on an annual footing or monthly), for account set-up, balance transfers, late payments, cash advances, exceeding or increasing your credit limit, and other assorted items.

Grace Period: the clip time period (10-28 days) that you have got to pay your measure without incurring a late fee.

Next, you need to place your three P's in order of importance: Profile, Priorities and Preferences.

Credit cards, like people, are not created equal - the best option for you will not be the best option for everyone. The card your friend urges or the 1 your bank advances may not best lawsuit your personal set of circumstances.

Your PROFILE:

a) Make you have got no credit history, a bad credit rating, or are re-establishing your status? If so, you should immediately zero in on specialised options such as as as secured credit cards, unsecured limited-credit cards, and loadable debit entry cards.

b) Make you fall into a targeted class such as student or business? If so, concentrate on these tailor-made options.

c) Make you always clear your monthly balance? If so, cards which have got no annual fee or offer particular features, such as as cash back or frequent circular points, would be more than appropriate than those with low A.P.R.s because no interest charges are incurred when the balance is paid in full.

d) Make you carry your balance over each month? If so, then cards offering a low A.P.R would be the best pick - the lower the A.P.R., the lower your interest charges.

Your PRIORITIES:

Having used your profile to highlight your chief options, you should now determine which card characteristics are most of import to you and rank them. You may wish to back up a charity or need to collect frequent circular points, or you might travel widely and must guarantee that you are able to utilize your card in as many states as possible. Where credit cards are equal on, for illustration A.P.R. inch your profile, usage your precedence listing to separate your most appropriate options.

Your PREFERENCES:

Having narrowed the field of credit card possibilities by matching options with your profile and priorities, you can now fine-tune your search by applying your preferences. The chief work have already been done, so at this concluding stage you can allow yourself to be more than frivolous or bizarre - exercising your personal preferences. You may experience a certain loyalty towards one peculiar type of card, desire free gifts, or simply dislike another card's coloring material or designing - it's your prerogative.

Finally, armed with the 3 P's strategy, you can now see an online credit card directory and complete the comparison, choice and application procedures. Not all directories are created equal, but a good illustration is http://www.globalcreditcardindex.com. This well-designed website is informative, user-friendly, and allows you to search the comprehensive information alkali and compare options with your 3 P's strategy in head (currently only American cards are included but United Kingdom options will be added soon). Online applications for all the cards listed can be submitted directly from this website, but approval modern times will change depending on your personal credit history and the type of card chosen.

Credit card money is loan

The credit card issuer gives you this credit limit based on your credit history. So, all the money a person spends with a credit card is basically a loan. Must know credit card benefits and drawbacks

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Sunday, April 15, 2007

Student Car Loans

Are you ill of public transportation? Perhaps you are tired of having to walk to social class in wet, cold weather? Maybe you need a car to get to and from a new occupation that you just started. If you are a student seeking an easier agency of getting around, there is answer! You can apply for a student car loan, even if you have got no credit or bad credit!

Student car loans have got two major advantages!
1) Buying a car will assist eliminate all of your no-transportation headaches! 2) Utilizing a car loan to purchase a new car will assist construct your no credit or bad credit history into a positive one. Every monthly payment you do for your car loan will be reported to every major credit reporting agency.

I have got no credit. How am I going to get approved for an auto loan?
With most car loan companies, being immature and having no credit is not a factor when it come ups to granting approvals. How come? Because a car loan is a secured type of loan. The lenders are protected by the fact that if your loan travels into default, they get your car.

What about bad credit? How make students get approved for a car loan with poor credit?
Same thing as getting approved for funding with no credit! Students with bad credit should not have got a problem getting a car loan with bad credit because the lenders are protected; you don’t pay, you lose the car!

What about interest rates? What can one anticipate with poor credit? What sort of rates are associated with no credit car loans?
The interest rates related with bad credit student funding will be given to be a small spot higher than interest associated with no credit student loans. No credit loans with be slightly higher than interest rates for student with good credit. However, no matter what your credit is, if you do your payments in full and on time, in about one twelvemonth you can apply for auto refinancing and accomplish a lower interest rate for your car loan.

Do students need a co-signer when applying for college student auto loans?
Typically, auto finance companies will not necessitate a co-signer for loans up to $25,000. If you are a student, there is no need to have got a car loan for an automobile that costs more than $25,000.

What about buying? Bash Iodine need to purchase from a dealer? Can I purchase from a private seller?There are only a few auto loan companies that offer the flexibleness of being able to purchase from anyone you want. Most finance companies work directly with dealers, often only with franchised dealers. However, dealers will work with you to happen any brand or theoretical account of new or used car that you are looking for.

Getting a student car loan is not a hard thing to do. In fact, as outlined above, it is pretty simple! Just do certain you do your car loan payments in full and on time, every month!

Wednesday, April 11, 2007

Joint Debt - Loan and Credit Card Bills

Julie, a 20 year old full time college student, married Bert, a 24 year old medical clerk. On the day she signed their marriage license, her credit report score began to worsen.

Julie knew Bert had been previously married, and though that marriage had lasted only two years, it was long enough to spread a bad credit virus onto her and Bert's joint credit report score.

Bert's ex-spouse, Camille, already had delinquent credit before she married Bert. And, she had continued being delinquent during her marriage to Bert and after the divorce. Unbeknownst to Bert, Camille's bad credit had passed onto him when he married her, and then passed on to his new bride, Julie.

Why? Because when couples marry, assets; as well as debts, become joint. Unfortunately, divorce does not nullify financial obligations, even if a judge specifies in a divorce decree which spouse is responsible for re-paying which bills.

But this is just the beginning of Julie and Bert's bad credit horror.

Julie had racked-up several thousand dollars in student loans. After she married Bert, she dropped out of college and that action initiated the loan repayment period. Like Bert, she also has a full time job, but it's hard to pay the debt because of other bills.

In the divorce decree with Camille, Bert retained possession of the car which still had loan payments due. Camille received all the furniture in the divorce settlement. Bert and his new bride, Julie, had to purchase new furnishings for their apartment. Additionally, they had spent a lot of money on their wedding and honeymoon. Together they had a lot of debts to repay, and some bills were being paid late. Their credit score continued to dive.

They got an idea. They would balance transfer Julie's credit card and Bert's credit card to a new credit card that offered 0 interest balance transfers for the first six months. Unfortunately, since their credit score was bad due to excessive debt-to-income ratio and late payments, they were rejected by the card issuer.

Bert refinanced his car to lower the monthly payment. Since his credit was bad, he had to extend the term (repayment duration) of the loan an additional two years and at a higher interest rate than the original loan, but he was able to get $1,000 in equity. He and Julie used the $1,000 to catch up on their bill payments.

Six months later, now that they had caught up on their payments which also lowered their overall debt-to-income, they reapplied for the 0 intro balance transfer credit card and were accepted. They transferred their credit cards to the 0 intro card.

Three months later, they received a letter from the new card issuer that stated their 0 interest period had been terminated. Why? Because Julie and Bert had mailed an auto loan payment a few days late. The late payment was reported by the auto lender to a credit reporting agency which lowered their credit score. The new card issuer's terms required Bert and Julie to maintain (or improve) their credit score by making all payments (not just payments on the card) on time. In addition to terminating the 0 interest period, the issuer also increased their APR rate.

Other than ordering credit reports before marriage, what could Bert and Julie have done differently to avoid the bad credit virus?

Before divorcing Camille, Bert should have made sure all debts assigned to her would be repaid, and repaid on time. Obviously, the only sure way to have done this would have been for Bert to make the payments himself. He could have refinanced his auto after divorcing Camille, used the equity to payoff her debts, and then have her repay him. He should have also ensured that all joint accounts with Camille had been closed to prevent additional charges.

Julie should have continued her full time student status; not only to improve her career opportunities, but also to delay the student loan repayment requirement.

And there are obvious things Bert and Julie could have done, such as buying used furniture whenever they had available cash instead of charging purchases for new furniture on their credit cards. Additionally, they could have spent less on their wedding and honeymoon.

Marriage and joint debts can indeed spread bad credit like a virus. Don't rely upon a divorce decree to separate you from bad credit.

Tuesday, April 10, 2007

Debt Management Software

Today we have got software for all things. We do our taxes, make our resume, and black and white our business card by a simple chink of buttons. Debt is no different. There are many different assortment of debt management software available today. They are proving to be valuable resource for gaining control of your finances.

Depending upon your specific needs and your comfortableness zones, you can do a choice of debt management software program, which would be appropriate for you. You will be pleasantly surprised that these debt management software programs are much more than than just the basic templet for your budget. They can supply you with elaborate advancement reports and strategies to break you financial health.

You can work with these debt management software programs by keying in your item disbursement habits. You can take from a complete number show to charts and graphs. It may assist sometimes, to break understand the situation. 37 % May look very abstract, but the second biggest barroom on the chart would do comprehension better. Also, if you don’t desire to make the math, don’t concern these debt management software programs will make the improvers and minuses for you (and yes even the percentages).

Then you can take a programs depending upon how elaborate you desire it to be. Some volition only supply broader classes while some may offer assorted subcategories. Then you have got some software that allows the easiness of online measure paying. You can also get monthly or annual budgets. Some may even assist you secret plan your investing programs including stock market quotes and other extras.

To do the right choice of debt management software may take some clip and attempt but it will be all worth the trouble. You can see as clip well pass as this clip will help in your financial growing and security.

Monday, April 09, 2007

Debt Management Credit Counseling

With so many people going into debt and filing for bankruptcy, do you even need to ask why we require undertaking debt management credit counseling? Isn’t the answer pretty obvious? Most of us are deep into debt and if we don’t get professional help then we are going to further get into debt.

It’s like getting a game plan being set for dealing with the debt. You discuss with your debt management credit counselor about you personal loans, credit card debt or tax liabilities. They help you chalk out some long term and short term goals. They also suggest techniques to understand and deal with more difficult situations.

When you undertake debt management credit counseling, it will allow you to scrutinize your certain spending habits. Although, most of us do have a rough idea bout how and where we are spending. Sitting down with a counselor and penning down each bill will help you recognize your limitations.

Counseling will help you device a plan to adjust your spending behavior. Usually, you will be required to pay a small fee to have a financial expert work with you. But, be ware if the so-called expert is charging you too much or promising you the sky. You certainly don’t want to deal with such counselors.

The best advice is - do some homework. Undertake a little research about your debt and the type of counselor you would need. You should not wait till you have hundreds and thousand in debt. Many times getting credit consulting prior to you ever get into debt will help you to better manage your finance. It can lend a hand to you for planning for those big things like marriage, children’s college fund and retirement at the same time it will also help in saving enough to make the trip to Europe.

Saturday, April 07, 2007

Lions and Loans: Why Finance Should Always be Personal

Different types of loans are available for almost every facet of your life: personal loans, car loans, secured and unsecured loans, home loans, homeowner loans, student loans, alumnus loans and career development loans (CDL). If you’ve suffered from credit problems in the past and now throw sub-prime characteristics, then you will be eligible for adverse credit and adverse loans.

You can always borrow money these days, but it is important to read the small black and white as the difference between interest rates is tremendous and narratives of people forced to pay off amounts which are five modern times the amount of their original loan are not uncommon.

There are also numerous narratives on unemployed couples being sold loans, such as as the lawsuit of Julie and Kevin Davies, reported by the BBC. The couple were already experiencing trouble in paying off their existent debts of £4,000, when they were sold another £20,000 loan by Lloyds TSB.

Loans of £1,000 to £25,000 can be taken out and repaid over a time period typically varying between six calendar months and 10 old age depending on your credit history and available finances. Loans are usually secured or unsecured. Secured loans are tied to your house, so you can be forced to sell the house if you are not able to do the repayments. Unsecured loans make not enforce the same restriction, though a default on repayments may ensue in being “credit blacklisted”. Once blacklisted, you may get future credit card, mortgages and engage purchase applications rejected, as well as human face a possible higher rate of interest for all existent debts.

It is absolutely important that you store around for a loan and not just through the high-street banks. The internet offers a wealthiness of information available and there are many land land sites which compare the terms of products, and to really guarantee you get a good deal – compare the different comparison sites. In the United Kingdom moneyfacts, moneyextra and ( moneynet ) offer terms comparison services for a broad range of loans, amongst other financial products. These land sites also offer consumer information guides, which you can either publish directly off the website or download on to your computer.

Do read all the terms and statuses carefully and inquire friends, household and your financial advisor / bank advisor if you don’t understand a peculiar statement. The annual percentage rate (APR) is particularly of import and can do a difference of thousands of lbs over the term of the loan.

Unsecured loans can be purchased from edifice societies and banks, as well as certain high street shops. Unsecured loans may be taken out for something particular or simply to do life more ‘comfortable’. The procedure usually involves:

* Requesting a typical amount for the loan

* Discussion of interest rate (APR) and possible loan payment protection insurance

* Type A credit check, you may wish to get one of these first, so you cognize what to expect

* Reading the terms and statuses and then signing the agreement

* Money can then be transferred into your account

In the treatment of secured versus unsecured loans, moneynet explicates that although secured loans can offer lower interest rates and repayments, many people make not wish to jeopardise the possible loss of their home in the default of a repayment of a secured loan. In unsecured loans, wage attention to the difference in APR, term of the loan and any further charges such as as an early settlement charge or salvation penalty.

Thursday, April 05, 2007

Teaching Students To Keep Out Of Credit Card Debt - The Parents' Role

Parents have the full responsibility for their children and their education. It is up to parents to teach their children what's right and what's wrong, how to conduct themselves as good citizens, how to cross the road safely and generally protect themselves from harm. In fact, up until the time that child is an adult, the parents have responsibilities in every part of that child's life, right up until the time they are a college student.

The influence of the parents, however, goes way beyond college student days. Whether they like it or not, or even admit it, everyone is influenced not only by the way their parents have treated them, but also by the behavioural patterns of the parents. That influence can be good, bad or neutral, but it is there, and it affects many aspects of daily lives. One of the main features of daily life is finance: money, debt, borrowing, lending, spending, and credit cards all fall within that sphere.

It follows that parents can have an influence on their children's attitude to credit cards and credit card debt. As a good teacher, mentor and financial adviser, the parent can help to create a positive financial attitude in their children that will help them through their college student days, and eliminate or prevent credit card debt from their future lives.

What Can A Parent Do To Help Their Student Children Prevent Debt?

Parents are not the only influence on their children. They and their children face a barrage of marketing for credit cards that has reached brainwashing proportions. Easy credit pervades society like a highly contagious virus; it is difficult enough for the parents not to succumb to the debt that follows easy credit, let alone their student children. And if the parents succumb, what chance do the children have?

Well, all is not entirely lost. All parents know, or should know, that trying to force feed attitudes and habits on their maturing children is likely to backfire. Many children are rebellious, and will often be inclined to go against the parents wishes or advice. That would apply as much to teaching how to manage their finances as anything else.

However, if you accept that you cannot just force something on your children, you can bring them up in an environment that may, through their own observation, make the children think twice about running up credit card debts as a student, and later still in their lives. Here are just a few ideas:

1. Get the children into the saving habit from a young age, but do it in a way that let's them see the benefits. Start a savings account for them even as a one year old, and as they get a bit older, just explain to them what it is and why. No harsh lectures, just a simple explanation that you are helping them to save money for something they will appreciate later. But not too much into the future; saying they will not be able to touch it until they are 25 will not help.

The savings theme can be on two levels. Part of the savings could be long term, but part also for something the child will be able to buy within a year. That way, the child has the anticipation of a benefit within a reasonable time; the balance of the savings can go on to accumulate. Ensure you have a savings account that will pay interest on all money in the account, so that when the first and subsequent interest payments are posted to the account, you can show the child that they have this "bonus" in their account. Explain it is the bank paying them money for leaving their savings in the account.

It is important for the child to feel that it is their money that is being saved, so explain it is part of their pocket money being put away. Also encourage them, but not force them, to sometimes put birthday or other gift money in the account too. Over the years, this will, hopefully, become a habit that is a useful contra to the debt culture. They will get used to the bank paying them, so when it comes to considering credit cards later, they may be more likely to question the large interest charges the bank makes for using the credit cards.

2. Encourage children to earn a bit of extra pocket money by doing little jobs around the house or in the garden. Say this will help them save for whatever it is they want to save for. Car washing, mowing the lawn when old enough, vacuuming; whatever needs to be done, ask if they would like to do the jobs for the extra money. Then, when paid, encourage them, but do not force them, to save at least part of the earnings. Again, this could become a habit that will stand them in good stead later on, and they will tend to consider the working route to extra money rather than expensive borrowing.

3. When they start doing more advanced maths, say at 9 or 10 years old, help them do a little budget plan for their savings. That will be a simple but quite mature approach for them.

4. The most difficult of all is to set a good example, but do not make a big fuss about it. Mention casually once in a while, for example when there's a commercial on television for a credit card, that the charges are so high, but it is probably best not to give serious lectures and warnings about credit cards and debt. Try not to use credit cards yourself, especially lavishly and in front of the children.

There is not guarantee that any of the above will make one iota of difference, but at least, as with many aspects of parenting, you have given it your best shot.

Wednesday, April 04, 2007

Read This Article if You Want More Money

So, you desire more than money, don’t we all is the line that come ups to mind. Sure we all privation more money, but very few of us have got sat down and made a strategic plan. You see money as they state makes not turn on trees in fact it can be a very elusive trade goods at times. It pays to have got a plan. If you currently are like most Americans, you probably have got got not managed your money all to well, you probably have a car loan and some credit card debt which is keeping you from purchasing a home or from making your home the dreaming home you wish it to be.

There are many ways to get money. You can come into it, although that mightiness take awhile or you may happen out you will have very small in the end. You can steal it but then you might have got a new large house in a “gated” community, with armed guards and three foursquare repasts a day; this may not be the dreaming house you were thinking of along side some whacked out sicko.

You can earn the money, which is generally how Americans travel about doing things. But merely earning money may not be enough, as you need to maintain more than of what you earn and be certain to not pay it the incorrect manner in those high interest credit card bills. You need your money to work for you. What you need is some good advice from person who can assist you cast a perfect plan, which is right for yourself and your household or your hereafter household if you are still single. Think on this.

Monday, April 02, 2007

Lost or Stolen Credit Card? Here's What to Do

Unfortunately, everyday purses and wallets become lost or stolen. The missing credit cards in your purse or wallet become the biggest concern.

Do you know what to do if this happens to you? Well, you should because a few simple steps can save you a lot of headache. It really isn't difficult to develop an action plan for your lost or stolen credit cards.

All major credit card companies have policies to protect you from loss or theft. You just need to know how to get their policies working for you if your cards become missing.

The first step is to contact your credit card companies to report your missing cards. Many companies offer a toll free number or an online service to handle this type of problem specifically.

Fortunately, federal law states that your are only liable for the first $50.00 of fraudulent charges made to your account. However, you are still required to report the card lost or stolen and if you do so prior to any fraudulent charges, you are not liable for the $50.00 charge either.

Be sure to carefully review your statement for any charges that don't belong to you. And, if there are any fraudulent charges to your account, notify your credit card company in writing immediately.

When your send in your written notification be sure to mail it to the billing errors address. Do not send it with your payment as it will probably become lost and never get recorded.

A lost or stolen debit card works somewhat differently from a credit card. If you report the card lost or stolen before it is used you are not liable for any charges, however, if you wait for even two business days you may be liable for up to $500.00 of any fraudulent charges made with your card.

After you have reported your missing card, be sure to review your statements carefully for any fraudulent charges. You should call, as well as, follow-up with a certified letter regarding any issues with your lost or stolen card. This added step will help to eliminate any liability on your part.

Also, remember to have your credit card contact information in a safe place where you can quickly access it if needed.

Of course, the best way to avoid these problems is to keep careful track of your credit cards. Know where your credit cards are at all times and keep your pin numbers secret. Also, be sure to use pin numbers that are not easy to figure out, such as your date or birth.

Most importantly, be prepared to contact your credit card companies via telephone and in writing as soon as possible in the event your cards become lost or stolen.