Credit Card Debt Relief

Wednesday, January 11, 2012

Credit Cards For Fair Credit

Learning to Raise Your Credit Rating : Credit Cards for Fair Credit.

There are many levels of scores when it comes to credit reports. Generally, these levels are broke down into poor, bad, fair, and excellent. The credit score is a three digit number that normally ranges from 300-850. There are many factors that are calculated when determining a credit score. These factors include patterns related to spending, the method in which an individual can save money, the amount of open accounts on the report, and similar items. When a person has a fair credit rating, normally, they are permitted to obtain a certain level of credit. Generally, these individuals can qualify for certain credit cards. In this article, we will be examining credit cards for fair credit.

Fair credit can mean several things. However, most of the time it often means that there are some unpaid items left outstanding on your credit history report. You may have paid other items on your report, and you may be making progress on the unpaid items, but there are still open issues that must be tended to. Most credit card companies take this into consideration when you apply for a credit card. Usually, you can obtain a number of credit cards that are appropriate for your financial needs by having fair credit.

One type of credit card for fair credit is the charge card. The charge card is generally issues to individuals that have fair to excellent credit scores. There is usually no limit of credit imposed on these particular cards. However, with a standard credit card, you will have a maximum amount that you can spend. Many people do not understand when they receive a charge card that the amount that is spent on it must be repaid at the end of the billing cycle. This is often where numerous individuals experience complications.

While it is tempting to have a shopping spree in which you can purchase anything you want, you must carefully consider the financial consequences of your actions. With a charge card, if you are unable to pay the amount that you have spent each month, many things may happen. First, a late fee will be imposed on your balance. This means that you owe even more money to the credit card company. The second thing that may happen is that the company may impose restrictions on your card. The third thing may be a totally suspension of the charge card. Then, of course, it will be reported to credit agencies. If you are interested in acquiring a charge card, it is imperative that you spend with caution.

The second type of credit card for fair credit is the basic credit card. With this type of credit card, you will have a set spending limit. You will also be required to make a minimum payment each month and pay a certain percentage of interest on the balance that you have. In addition to this, you may be subjected to annual fees. Many standard credit cards offer rewards and incentives to individuals that pay on time and manage their money effectively. This is often a wise credit option for those with fair credit.

When selecting a credit card for fair credit, it is essential to pay special attention to the conditions that are listed in the agreement of the card. By not understanding these conditions, and making a financial blunder, you may create a situation in which your credit goes from fair to bad. However, having a good understanding of the conditions and maintaining those conditions can quickly push you over into the excellent credit rating.

Thank you and Good Luck!

Credit Cards With 0 Interest On Purchases For 12 Months

Credit Cards With 0 Interest On Purchases For 12 Months. What is the best 0 interest credit cards..

0 Interest credit cards allow you to purchase items or services on credit without having to pay costly interest. Some banks also offer 0 interest credit cards on balance transfers which some banks don't. Which is why it is important to recognize the purpose for which you plan to use your credit card so that you can apply for the one that suits your needs best.

For those of you who plan to use their cards on both purchases and transfers, Capital One Platinum Credit Card offers 0 interests on both. The duration of their 0 interest offer lasts for 12 months for both purchases and transfers. After the 0 interest offer expires, the regular interest rate is at 14.9%. This interest rate can be a little steep on the pocket but at least you won't have to pay annual fees. Another disadvantage though is that they do not offer rewards with this card.

The Chase Freedom MasterCard also offers 0 interest credit card for both purchases and transfers. However, the 0 interest rate on purchases only lasts 6 months. After which, you will need to pay a regular interest rate of 12.99%-22.99 % depending on the economic trends. However, they do have an advantage over the Capital One Platinum Card because they offer Cash Back rewards to their clients.

The Citi Platinum Select MasterCard also offers 0 interest credit cards on both purchases and transfers and this offer lasts from 7-18 months. Although the promo duration may be a little less than what others offer, they do have a relatively lower regular interest rate at around 11.99%-19.99%. An additional bonus is that they also offer Cash back rewards.

Another credit card offers even more rewards than the rest. The Citi Diamond Preferred Rewards Card is also a 0 interest credit card whose 0 interest offer lasts 7-15 months. What's great about this card is that you can collect points every time you use it. They also give you 6,000 points as an initial bonus which will keep you motivated to keep on earning those points. When the 0 interest offer expires, the regular rate you will have to pay is 12.99%-20.99%. This is 1% more than the regular interest rate of their Citi Platinum Select MasterCard.

Besides points, there are also other credit cards that offer miles as rewards. The Miles by Discover Card offers 0 interests on purchases and transfers up to 6 months only. However, despite the shorter duration of their promo, you can take advantage of their rewards system that offers you mileage. They also give an initial 12,000 miles as a bonus when you apply for one. This card is also great since you don't have to pay annual fees and the regular rate is pretty affordable at 11.99%-19.99%.

Another card also offers miles. The Escape by Discover Card offers 0 interest for 6 months after which you have to pay the regular rate of 11.99%-18.99%. The maximum rate for this card is 1% lower than the Miles by Discover Card plus it offers an initial bonus of 25,000 miles, this is 13,000 miles more than the Miles by Discover Card. This makes you think it's a better deal but this card comes with annual fees of 60 dollars.

Thank you for reading, good luck..

Tuesday, January 10, 2012

Credit Cards Comparison

How to Compare Credit Card Offers? Credit Cards Comparison.

If you are looking for a new card but aren't exactly sure which one is right for you then you definitely want to conduct a credit card comparison in order to find the most suitable offer. There are many different cards on the market and it can become a bit overwhelming but it need not be.

A quality comparison website will allow you to drill down to specific categories. For instance, if you're interested in low interest rate cards there should be a category devoted specifically to low APR offers. The same can be said for cash back cards, travel rewards cards, business credit cards and so on.

By accessing these categories you will automatically be able to see the different offers from the major issuers including American Express, Discover, Visa and MasterCard. This will make it very easy for you to do side-by-side comparisons of the features and benefits of each.

A truly high-quality website will also offer news, information and reviews. By accessing this type of information you will be much better prepared to make an informed decision. It is extremely important that you also identify what your specific needs are as a consumer.

Equally important is understanding exactly what the terms and conditions of the offers that you are interested in are before you apply. You are not only going to want to know about the good stuff like rewards programs and the like, but also you must understand the cost of actually owning a credit card.

The cost I refer to is composed of the interest rates, fees, grace periods, lines of credit, etc., etc. These are the things that are usually buried in fine print but nevertheless must be not only read but clearly understood.

Doing a credit card comparison on a reputable website is absolutely the smart way to shop for credit. By keeping the aforementioned advice in mind you will be well on your way to finding a card that is not only fiscally smart but will also serve you well for many, many years to come.

Good luck for you and thank you.

Credit Cards For Unemployed

Credit Card Advice For The Unemployed. With the economy the way it is today, many people are finding themselves unemployed or are scared of the prospect of unemployment in the future. Because of this it is important to know how you will manage your credit cards in the event you become unemployed, and even how to get a new card if need be. Here is some helpful advice on credit cards for the unemployed:

If you have just become unemployed, you may be tempted to use your credit cards more often to continue to make necessary payments. If you do not have sufficient savings this may be your only option, but remember that you will eventually have to repay everything you buy. So in times of unemployment make sure to cut back your expenses to the bare minimum to ensure you do not damage your financial future by accumulating large balances on your cards. If you have some savings then use them to make your necessary payments and try not to use your credit cards at all, unemployment is not the time to be buying on credit if you don't need to.

If you are worried about potentially becoming unemployed in the near future, you should be managing your cards differently. You should be minimising the amount you are purchasing on credit, and you should be trying to save any money you can in case the worst happens and you lose your job. If unemployment is a possibility, you should be managing every aspect of your finances to reduce your spending and save more money so you can hold out until you get another job. If you are worried about losing your job, and think you may need to live off credit for a while if it happens, then you should get a new credit card now before its to late as it can be difficult to get a new card once you're unemployed.

If you are currently unemployed you are still able to get a credit card, but it may be unwise to do so. The cards you will be accepted for will all have a very high interest rate, high annual fee and a low credit limit, so it can cost you a lot of money to use. Try to hold off on applying for any cards while you are unemployed, simply waiting until you have another job will dramatically improve the interest rates you will get on a new card.

Don't make your finances worse be using your cards inappropriately. Follow some of this advice and manage your credit well, regardless of whether you have a job or are unemployed.

Thank you for reading and good luck!

Monday, January 9, 2012

Credit Cards For People On Low Income

The Top Credit Cards For People on low Income

Consumers from all backgrounds struggle with money issues at some time in their life. One of the best ways to rebuild a score is to get positive reports to the bureau. There top credit cards for bad credit and people on low income can help a consumer do that.

Consumers have the choice of three types of cards; unsecured, secured and prepaid. The least helpful of the three is the prepaid cards. Prepaid accounts do not turn information into the bureaus which means no positive marks will appear on the report. An unsecured account is when a bank extends a card to a consumer without any deposit. The final type is the secured account. A secured account requires a deposit from the consumer that equals or is slightly lower than the card balance.

The account that offers the best interest rate out there for those with damaged history is from Orchard Bank. An APR of 7.9% is well below the standard 14.9%. But they do have a high annual fee of up to $59 which is not charged for the first year. Consumers will also have to deposit a minimum of $200 to open it.

The Capital One Secured Mastercard offers the best maintenance fee in the industry, $29. This card is unique because it gives consumers a low deposit of $49 for a $200 limit. Because this is a partially unsecured card the APR is a huge 22.9%. This makes a great emergency card but not an every day use card.

The Citi Secured Card is a very unique card, instead of placing the consumer's deposit in a non interest account it buys CDs with it. Other perks of this card are no monthly fees and a low annual fee. Consumers face a huge 18.24 APR on balances.

Open Sky Secured Visa gives consumers a low 9.75% APR, but it does need a $200 deposit. This card charges a high, $50, annual fee. There are also hidden fees when consumers make changes to their account.

Mango Prepaid Mastercard is ideal for some one not interested in building their report. Unlike other prepaid accounts they do not have an activation fee. This card also gives consumers a $20 sign up bonus and does not charge to place more money on the card. Watch out for hidden fees with this company.

Your history will not change overnight. Positive reports are earned with timely payments, not using the entire balance and careful use. These top credit cards for people on low income and bad credit can help consumers get there.

Thank you for reading and good luck!

Is it Safe To Try Credit Cards For Bad Credit ?

Is it safe to try credit cards for bad credit?

Question : I am trying to get my credit back on track and I would like to know if it is safe to do so with credit cards for people with bad credit?

Answer from my friends : I'll give you an example of a bad one.
First Premier.
Annual fee $100 - charged upfront.
Processing fee about $75
If you want to pay a bill onlline $3 monthly fee
Oh, and they can increase your limit at any time for a $25 fee.
(they usually do this when you are close to your limit to put you over and whack you with an over the limit fee).
All in all, you get a card with about a $250 limit but $230 worth of fees.
To get good credit, you must pay this in full each month.
If not, you are officially maxed out, according to the FICO and you are destroying your score.
And the best part:
Interest rate of 59.99%. If you are late can be raised to 79.99%
For you doubters, it's on their site.

Have you considered a secured card instead?
Or could you get a parent to co-sign on a card with you?
If you do this, make sure you pay in full each month.
Absolutely no games of carrying balances.

Thank you for reading & Good Luck!

Sunday, January 8, 2012

Credit Cards With 0 Interest

Credit Cards With 0 Interest. Credit cards have always been coupled with interest rates, as the regular credit card owner will find. Interest is basically the charge for "borrowing" money from the bank by using your card. At any time that you buy something with your card, whatever it is, it is considered borrowing money from the bank. They charge a certain percentage as an additional from what you bought, in exchange for this virtually free access to the bank's money. And since card payments are ideally for installment type payments, which usually mean that you pay monthly for that product. And that means you pay that interest at a monthly rate as well. So if the product is about $400, and your card interest has been added up to be 6%, you pay 6% of that $400 dollars every month until the payment is done. And doing the math, 6% is small if it was just for one month but it accumulates to a considerably big number if they're charging you that every month for, say, even 7 months, depending on the agreement set by the seller of the $400 product.

This doesn't sound too good, but this is simply a business deal that occasionally benefits the user of this particular service. A lot of people are saved by credit cards, and some simply can't do without them. They do not mind the interest that is charged, and they most likely have the means to consider their card interest percentage to be a small number. Some card interests even go as low as 2.5%, but to my understanding, the lowest common interest percentage is 6% in the US.

Needless to say, cards could prove to be a very expensive commodity. So before availing yourself of a card offer, something that is even as attractive as something banks are offering now called 0 interest credit cards, you should reassess if you really do need a credit card, and to what degree this bank privilege can help you.

0 interest credit cards do sound very interesting, as it connotes that these cards won't charge you any extra when you use it to buy a product that for any reason, you can't pay for in cash. But you have to consider that interest is how the bank earns, and a bank is still a business. Much as they might not charge you interest, as 0 interest credit cards promise you, those charges could still be hidden somewhere. You'll easily find this by simply asking the store where you're planning to buy that product how much it will cost to pay in cash rather than by card. They would usually tell you, if not without fail, that a cash payment is significantly cheaper than paying by card.

What makes it cheaper than buying the product by card, if your card isn't charging any interest on your 0 interest credit cards? The bank or the company that offered you that card still charges the store for their services, while the store, as a business, will naturally charge their consumers what the banks are charging them. Technically, your card is a 0 interest credit card. But the stores that avail of the card services will still be charged, and you still have that interest that you were promised would be 0.

Thank you & good luck!

Credit Cards For Bad Credit Instant Decision

Credit Cards For Bad Credit Instant Decision. In today's world, everyone is in a hurry. I know that many people want a decision now. They don't want to wait for 2-4 weeks to see if they are approved for a credit card, a job, or whatever it may be. I guess this is just what society has come down to.

When you're looking to find an instant decision credit card, I wanted to give you some pointers on how you can find a card that will work for you and how you can find it. I will also point out what kind of credit score you're going to need to have, in order to get approved.

Where can I find an instant approval credit card?

In today's economic climate, many banks are pretty picky on who they pick. Unless you meet a certain criteria, there's going to be a good chance that you're not going to be approved. You're going to want to look at either the banks that you like, or do a quick search online.

What you're going to want to look out for is if the bank states that they offer an instant decision. They will advertise this because they know people want a decision now. If it doesn't state that, you may want to move onto a whole another card, because it may not work for you.

What am I going to need to get approved?

- A good credit score: You're going ot need a score of at least 750+ to stand a good chance. Sure, you can have a lower score, but the lower you go, the less likely you are going to be approved.

-A good credit history: You can have a good score and have next to no credit history. If you're 21 with a credit score of 750+, you will probably will have to wait. Credit card companies love those with a great history and it may have to be 10 years+ before they make their decision.
Don't just apply for a card because you're going to get approved right away. You may find that you can wait a few days to get a decision and you're going to get a better card.

You will want to find a card that's going to work for you in terms of rewards and more. Most instant approval cards may not offer this. You will want to keep this in mind if you're looking for something in particular.

Thank you for reading & good luck!

Credit Cards For Bad Credit

Credit Cards For Bad Credit Information. If you're the kind of person who has a bad credit rating, finding someone to give you credit can be tough. True, there are certain types of loans (called Bad Credit Loans) out there, but a loan is often seen as a 'big deal' - if it's only small purchases or spending you want to cover, credit cards can certainly seem like an easier option. Thankfully, there are a number of credit cards for bad credit holders available that could not only provide the credit you're after, but even help improve your bad credit rating if used properly.

While most companies have restrictions on who they give credit cards too, three companies - Capital One, Vanquis and Aqua - offer special credit cards for bad credit holders. The good news is that providing you've not been registered bankrupt in the last 12 months, are on the electoral roll and have some form of good credit in your history, you could be approved for one of these cards relatively easily. All three companies have extensive experience working with people who have a bad credit rating, so it's likely that could help you if you're need of some quick and simple credit.

Not surprisingly though, such credit cards come with a few catches. As already mentioned, there are criteria that need to be met before you can consider applying and sometimes, it's things like not having a permanent address or not being on the electoral roll that can be responsible for a poor credit history forming in the first place. More importantly, however, is the interest rate tied to these cards - clocking in at between 35 and 40%, they're substantially more expensive than more traditional cards which can potentially create more problems than solutions in terms of debt. That said, the credit limits on such credit cards are often restricted to between £150 and £1,000, making it difficult for you to go overboard with spending and get into trouble further down the line.

As well as being a good source of quick cash for people with bad credit though, these credit cards can actually help repair a bad credit rating if used responsibly - regular payments can raise your credit rating and leave you with more options to get credit elsewhere. What's more, the card providers often lower the interest rate and raise the spending limit if you can show responsible use of the card, so there's the option for it to be a long-term source of credit rather than just a quick fix.

In Summary, Credit cards for bad credit:
  • Are offered by a select number of lenders
  • Have higher rates of interest than regular credit cards
  • Tend to have lower credit limits initially
  • Have restrictions on the types of applicants they accept
  • Can have their rates lowered and credit limits raised if you use them responsibly
  • Are easy to apply for and can be approved quickly if you fit the criteria
Thank you for reading & good luck!

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