Bankruptcy List Is Also A Must For These Companies

Category: Finance, Credit.

Bankruptcy marketing only occurs after someone filed for bankruptcy. They then in turn provide this information to lenders who will need it for their marketing strategy.

This type of marketing focuses on the collection of information on people who file for bankruptcy. Bankruptcy marketing has become a lucrative business especially with the mortgage collapse in the U. You will find an abundance of bankruptcy Leads company that specializes on getting you that needed information. Bankruptcy list is also a must for these companies. When people do get discharge from bankruptcy, they have little or no debt and have limited borrowing choices. People file for bankruptcy to ease the burden of heavy debt load and to restart a fresh life. Once filed for bankruptcy, you cannot file for another one within the next six years.

Bankruptcy marketing do focuses on these people they cannot purchase on credit. Once you are discharged, you have to re- establish a positive credit history before you can apply for a credit card or a loan. This will go for an extended period of time until the person re- establishes his or her credit. So these marketers will provide the lender an easy way to setup this mechanism. They are the easiest pry for lenders as they are likely to apply for some sort credit services to start. Discharged bankrupts have to find financial institutions, banks or merchants who are willing to give credit cards or financing alternatives. They will hold the security deposit and you have re- established a good credit standing.

In some cases they can acquire a credit card provided they have to give a security deposit. Bankruptcy marketing allows the lender to put up a way of providing leads on a particular bankruptcy status they have chosen. Lenders will also have the option of receiving updated telephone numbers bankruptcy discharge cases. A bankruptcy list or bankruptcy leads is needed by the lender when offering financial alternative services to discharged bankrupts. This telephone numbers will be crucial to the lender if they decided to do telemarketing service strategy. For the most part lead providers will give easy access and make information readily available for their marketing plan. The system that is being provided to lending institutions by any lead provider is always easy to use.

These will a decided advantage for the big lending institutions. To stay competitive against your competitor, you have to have a steady flow of bankruptcy leads and bankruptcy list of discharged bankrupts. Non- traditional lending companies will struggle to maintain an updated files and information. In essence you need to collect bankruptcy data files to be successful as lender. And there is no better than a bankruptcy marketing system that can help you prospect for new customers. This way you know which and where your targeted customers are.

Read more...

You Can Get A Very Good Credit Card Deal By Extensively Ferreting Through The Ones That Are Available - Finance and Credit Blog:

To begin with, you have to be aware that when looking for an ideal credit card, it ought to be one that comes without more charges or costs, requires ninety to a hundred percent of bank balance as its credit limit and entails a minimum sum of cash as the least bank balance.

Are You Buried In Credit Card Debts

Category: Finance, Credit.

Are you buried in credit card debts? Here is a consolation.

Do you think it is the end of the world for you? It may make you feel a little bit better to know that you are not unique. You can take comfort in that, knowing there are, however others who share your problem does not solve everything. You are not alone in your predicament because there are millions of other people all over the world who are facing the same problem as you are. You still need to find solutions to your credit card debt problem. The best recommendation to solve your problems is to take the bull by the horns and attack the problem head- on.

Other people may even be in deeper rut that where you are, and like you they are also looking for solutions to eliminate their debts. Resolve to eliminate your credit card debts once and for all. Different people attack the problem in different ways. There are many solutions to your credit card debt problem and you can look for the best way that suits you best. Here are some suggestions. Make a list of all your cards, payments that are, respective balance due, any reward points, APR you have earned, discounts available and, redemption offers any other information and details about your existing credit cards.

First, you lay down all your credit cards on the table. From there, you need to figure out which card is giving you the biggest headache. You can then check if you have any reward points available that you can use to make partial payments towards any of your balances. This could be the card with the highest APR and the highest balance. Next, you need to draw a table comparison for offers that are available to eliminate your credit card debt problem. When you do this, you will slow down the rapid increase of interest in your credit.

This could be by consolidating all your debts into one or two cards, or applying for a loan from the bank to pay off your debts. You can pay off your loan in easy monthly installments. If you do not practice controlled and healthy spending habits, if you cannot curb the urge to splurge even on things you do not really need, no amount of outside help can work for you. The main solution to your debt problem however lies in you. The effort and campaign to start eliminating your debts should start within you. If you start earning more and spending less, you can hasten the elimination of your credit card debt problem.

Looking for additional or alternative means to add to your income is another solution to help you out. As you discipline yourself to control your lifestyle and spending habits, as you earn alternative income and add to your funds instead of spending, you will see your debts reduce. A final word, one of the solutions to your credit card debt problem is to start with you. The day when you will wake up debt- free will not be far off, and think what a relief that will be for you.

Only By Destroying The Paid Off Credit Cards Can You Escape The Debt That Has Imprisoned So Many Other People These Days

Category: Finance, Credit.

With the average person having more than three credit cards, the popularity of debt consolidation loans to pay off the balances is increasing.

There are ways of taking care of your debt that may not be the best ways in the world- but they can offer you temporary relief while you run up your credit card debt even worse and then require an even bigger credit card debt consolidation loan to get out of that mess. Willpower, resolve and a proper budget is needed if this sort of loan is not to end up as another means to drive you deeper and deeper into debt. Only by tackling the balances with the highest interest rates can the loan be most effective at reducing your debt and your monthly repayments. You will need to destroy your cards and cancel the accounts once this loan has paid off the balances, otherwise your financial situation will be worse than it was before. It can sometimes be handy to keep your credit card account open- for example, to help with your credit score- in which case there are other credit card debt consolidation options available. With credit cards so widely accepted, it s worthwhile limiting yourself to one card with excellent terms, and then using your credit card debt consolidation loan to pay off and cancel the other cards, accelerating your climb out of debt. By taking up one of the many balance transfer offers from credit card companies, you can move your outstanding balance to a new card and pay a much lower rate of interest.

Balance transfer deals are another from of credit card debt consolidation- by moving your outstanding balance to a new card with a lower rate of interest, you end up reducing your monthly repayments. These are the deals you will want to pick up if you just want to transfer your debt, as they will give you a much lower rate of interest and reduce your monthly repayments. Balance transfer deals is how many people wind up so deep in the hole they cannot get out so if you are getting ready to do your second or more transfer than just stop and talk to a professional credit counselor. The danger of balance transfer deals is that they are easy to take advantage of, which can quickly lead to a snowballing increase of debt. Once the debt consolidation loan has paid off your existing credit card balances, it s important to cancel those accounts and destory the credit cards themselves. Only by destroying the paid off credit cards can you escape the debt that has imprisoned so many other people these days.

Read more...

Most People Have, At One Time Or Another, Missed A Payment On Their Credit Card - Hilda Shoals's Finance and Credit blog:

Most people have, at one time or another, missed a payment on their credit card.

Loans In This Case Prove To Be The Only Saviour Of People

Category: Finance, Credit.

One of the difficulties being faced by almost every section of society is the constantly rising cost of living.

A phase has come today when people are forced to live strictly within their budget. Things have boiled down to such a position that rarely can people today expect to buy an object without carefully prodding over its price. Slight expense out of the budgetary allocation can send ones monthly budget in a tizzy. They ensure that the urgent requirements of people are never stalled for lack of funds. Loans in this case prove to be the only saviour of people. However, one should always keep in mind that any loan can only be worthwhile when the requirement is known.

One should always keep in mind that one also has to return the loan and that any irregularity can lead to oneself earning bad credit score which severely reduces one s chances of availing loans in future. Also it is important for people not to indulge in over expenditure for it would unnecessarily increase the burden. One of the options which UK provides to its people is unsecured loans. The biggest of which is consolidation of debts. Unsecured Loans UK showers the applicant with several advantages. This means that people can clear their debts in one go by availing secured loans and this way can be freed of tension instantly. Also since unsecured loans require no deposit the formalities are done away quickly and the loan is processed very fast.

The rate of interest charged by companies for this is also less then the interest rate of all the loans put together. This type of loan can be availed to set up a new business or to clear the bills or to pay your college fees or any such big or small expenses. This research is important for only then does one come to know that which company is providing loan at lesser interest rate and at favourable terms and conditions. However, one should always approach for unsecured loans, or any loan for that matter after carefully going through the offers available. If the research is done properly then one can be rest assured that secured loans UK would play a crucial role in bringing respite for people.

Read more...

What About Debt Settlement - Finance and Credit Articles:

If you re presently having problems with your credit card debt, perhaps you re thinking about applying for a debt consolidation loan or looking at the option of credit card debt settlement. If so, what are these differences?

At Least That S How It Seems When It Comes To College Student Credit Cards - Jamie Muro about Finance and Credit:

You re danged if you do, and you re danged if you don t. On the one hand, many young people seem to look at a credit card as a" free money" stream, having not broken out of the habit of living at home and having mom and dad take care of finances.

Clearing Debts Takes Time And You Will Have To Start Somewhere - Victoria Kimbrel's Finance and Credit blog:

Increasing numbers of Westerners are becoming trapped in a cycle of debt, often ignoring the situation until it is almost too late. There are many ways to provide debt relief but whichever you choose, you must have a degree of commitment to being debt free or it will not work.

Free Loans Consolidation Is A Very Good Option For This Type Of People

Category: Finance, Credit.

Whether the organizations offering free Christian debt consolidation are working according to the principles of Christianity or not is a debatable issue.

On the other hand, there are people who stand in favor of these consolidation companies. Many people feel that they dismiss the viewpoint of the Christian way of life. Their argument in favor of these organizations is that free consolidation program is biblical to them. Different People Have Different Views. Morality of the story is that whether a Christian should fall in debt or not is still an unanswered question. A section of society believes that if someone chooses free debt consolidation then it does not affect the Christian way of life. One fragment restricts it only to automobile or home loan.

However, the views are at variance when it comes to the type of debt. On the other hand, others have no objection even if you go for a personal loan also. A Matter Of Personal Preference. The only limitation is that whatever thing you purchase with this amount it should have value either equal to or more than the amount, you have borrowed. Many people do not feel at ease when they have to talk to any non- Christian organization about debt consolidation. Nevertheless, here it is worth mentioning that as far as the consolidation companies are concerned they impose no restriction on the religious thinking of the people hiring their services.

Free loans consolidation is a very good option for this type of people. Therefore, in other words we can say that the mode of working of both Christian and non- Christian companies is the same. As the experts always tell us, we should keep our financial limitations in mind and not stretch much beyond our capabilities. Going for a Christian one is totally your personal choice. However, by the time majority of people realize this fact it is already too late. Once you find a good company for free Christian debt consolidation, you should immediately apply to it so that process of making you debt free can begin as soon as possible. The only good new in such condition is that debt consolidation companies are there to help you and bail you out of the vicious circle.

All your loans are brought together and you can now pay to only one creditor instead of so many creditors every month. Moreover, the installment amount is also within manageable limits.

Read more...

Most Cards Have A Membership Rewards Program - Finance and Credit:

Many people ask why it is important to have a credit card. Sometimes when you want to buy something that is way out of your budget at the moment you can opt to carry the transaction through with your credit card and make the payments in installments.

These Charges Will Appear On Your Monthly Credit Card Statement - Hallie Lobo about Finance and Credit:

The RFID Credit Card Since June 2005, all American Express issued Blue credit cards have been imbedded with an RFID( Radio Frequency Identification) transponder, in addition to the traditional credit card magnetic strip.

There Are Different Fees For This Loan Type - Jaclyn Padillo about Finance and Credit:

You can get the money you need to pay your bills or shopping overnight if you need cash fast.

Applied Towards: Purchases, Balance Transfers

Category: Finance, Credit.

The Chase Free Cash RewardsSM Visa� Card, is designed for, issued by Chase those with very good credit who would like a card that offers a cash back reward program. Cardholders are also awarded 1, 000 bonus points with their first purchase.

Through the reward program, cardholders earn one point for each dollar spent on all purchases. Each time the cardholder accrues 2, they will receive, 500 points either a$ 25 gift check or a$ 25 gift certificate from their choice of various merchants and retailers. For those who qualify, the card has a reasonable interest rate for purchases and balance transfers in comparison with other reward cards. The amount of points you can earn is limited to 60, 000 points per year. There is also a 0% introductory rate on purchases and balance transfers for the first twelve billing cycles and no annual fee. Credit Card Pros and Cons. Those who plan to occasionally carry a large revolving balance may find doing so costly due to the" Two Cycles Average Daily Balance" method used by this credit card to determine finance charges, which ends up costing more to maintain an occasional balance as compared to the" Average Daily Balance" method used by many credit card issuers.

Pros: Long term 0% introductory rate on purchases and balance transfers. Bonus points. No annual fee. Reasonable interest rate for purchases and balance transfers. 0% introductory rate on purchases and balance transfers. cardholders have access to common platinum benefits provided by Chase. Emergency card replacement. Various Internet account related services.

Lost and stolen card reporting. Auto rental insurance( Auto Rental Collision Damage Waiver) . Travel accident insurance. Various travel and emergency assistance services. Purchase protection. Extended warranty for purchases.

No liability for unauthorized transactions. Those who qualify for the lowest rate offered and will take advantage of the reward program will benefit most from what the Chase Free Cash RewardsSM Visa� Card has to offer. Year- end financial statement( upon request) . Cons: Uses" Two Cycles Average Daily Balance" method when determining finance charges. Applied Towards: Purchases, Balance Transfers. Card Details: Introductory Rate: 00% Time Period: 12 Months. APR( Purchases) : 124% Variable* The APR for purchases is based on the Prime Rate.

Finance Configuration: Two Cycles Average Daily Balance( including new purchases) Annual Fee: $0. APR( Cash Advances) : 224% Variable* The APR for cash advances is based on the Prime Rate. Additional Cardholders: $0. Maximum Credit Limit: n/ a. Grace Period: 20 Days( Min. ) Minimum Credit Limit: n/ a. Late Payment Fee: $15 if balance is less than$ 250; $39 if balance is$ 250 or more.

Cash Advance Fee: 3% , $10 minimum. Over- The- Limit Fee: $35. Balance Transfer Fee: 3% , $5 minimum, $75 maximum. Card Reward Program Details: Points per Dollar: 1 Point. To view the most current rates, please see the most recent: Terms and Conditions. Additional Points: None. Expiration: None.

Point Details: When 2, 500 points have been accrued, the cardholder may choose either a$ 25 check or a$ 25 gift certificate to participating merchants. Yearly Limit: 60, 000 Points. Notes: The APR for purchases and balance transfers varies according to the applicant s credit history and will be 99% , 99% or 199% + Prime Rate. Bonus Points: First Purchase: 1, 000 Points. See website for complete terms and conditions of card usage and application disclosure.

Read more...

People Treat Credit Card Debt Like A Disease - Finance and Credit Articles:

People treat credit card debt like a disease. How to eliminate the credit card debt as soon as possible?

You Can Also Have As Many Cards As You Need For Your Employees - Finance and Credit Articles:

The Citi PremierPass card, either for your business or personal needs, is easily one of the best travel rewards cards on the market today.

These Are Also Known As Secured Credit Cards - Alta Marlett's Finance and Credit blog:

Unless you have really good credit it may be difficult for many people to obtain a credit card.

Stories On Online Card Scams Never Cease

Category: Finance, Credit.

With the advent of the Internet, the way we run our businesses has changed dramatically.

Waiting for 300 seconds too long and it is frustrating. It has made the world spin faster and no one wants to wait for anything anymore than few seconds to few minutes. The credit industry tries to exploit this growing weakness of the society to market its products. How does the online credit card approval system work? They try to attract customers through instant online cards and online credit card approval schemes. Once you fill your application online for your choice of credit card your credit details will be verified by the system. In case of poor credit, your application will be declined and this too will be notified of the status of the application.

If you have your credit history anywhere between good and excellent then you are certain to get your card application approved and you will be notified of your status through email. Is it safe to apply online? Stories on online card scams never cease. You have to be careful while you apply for any cards. Try to identify reputable credit card companies before you apply for your card. Secondly, be cautious of the terms and conditions. If you suspect that the application is requesting unnecessary information then be warned and try to check on other online application forms to see whether they request similar information.

Double check everything before you submit the details. The range of security deposits vary from$ 200 to$ 60 Is online card approval really useful? Many online card approval schemes demand security deposits. The answer would be yes and no. You save yourself from the painful period of waiting and also the frustration when your application happens to be declined. It is useful because you know the status of your application for the card instantly, you will know whether your application has been approved or not.

It is lot more helpful to be updated of the status even if it is going to be declined so that you can start checking out for other options. There are people who have got their application approved even without a good credit history. Besides that, card applications to a great extent seem not to worry about the credit history. However, we are not sure whether those are some exceptional cases or whether that is the general trend with online card applications. This can be due to various possible reasons including the inability of the system to access the credit history of the applicant at the time of the application submission. For some strange reasons there are also people with good credit history whose applications have been declined.

Even though your application gets approved instantly you have to wait for your card to reach you through mail before you can start using it. Summary: Today it is possible to apply for credit cards online and know the status of your application through online credit card approval. This is yet another marketing gimmick from the credit cards industry. You have to be extra careful while applying for your card online enticed by instant approvals, as you might become one of the victims of online credit card scam.

Read more...

It S Up To You What Type Of Credit Cards To Choose - Finance and Credit Blog:

Business credit cards play a great role in the success of many business organizations. Business credit cards can help you afford many of your business expenditures.

What Are The Downfalls Of This Credit Card - Finance and Credit Articles:

Do you travel frequently, but not always use the same transportation carriers or hospitality providers?

There Are Different Ways To Open A New Credit File Each Of Which Works To Help One Build A New Credit File And Utilize Simultaneously While Repairing Ones Credit Or Establishing Credit - Finance and Credit Articles:

There are different ways to open a new credit file each of which works to help one build a new credit file and utilize simultaneously while repairing ones credit or establishing credit. It is a loophole in the system.

One Option Is To Enroll In A Debt Management Program

Category: Finance, Credit.

Overwhelming credit card debt is a very common problem for many American consumers. When a person comes to the realization that they are caught in an endless cycle of debt, they may then admit that help is needed.

Too many people just continue to pay their monthly minimum payments without any knowledge that their debt burden may never go away. What people may not know is what kind of help is available, and how to find it. Choosing the best plan of action can also add the stress caused by the debt in the first place. Understanding all of the options to relieve themselves of debt can be very confusing. One option is to enroll in a debt management program. Please notice the words" attempt to" . A debt management company will attempt to work with your creditors to lower the interest rates and waive any fees, such as over- the- limit fees and late fees.

There is no guarantee that the creditor will agree to lower the interest rate or waive any fees. With a debt management program, your budget will be analyzed to determine how much money per month you can part with to pay down these debts, and initiate a plan to make regular payments to your creditor for a specific dollar amount. Interest rates may actually increase when a credit card company is informed of a financial hardship. Once your creditor sees a pattern of regular payments reducing the principal balance, they may agree to lower the interest rates even further. You must be able to continue to make the regularly scheduled payments. For a debt management program to be effective, the debt should be paid off within five years. Keep in mind that interest will continue to accrue, so your payments are not all being applied to the principal balance.

The debt management company should provide you with an amortization schedule, showing the amount of principal and interest you will be paying each month, month after month. Part of the payments will continue to be applied to interest, as well as any monthly fee charged by the management company. With this schedule, you will be able to see exactly the amount of time it will take to be debt free under the payment plan. If the management company cannot provide an amortization schedule, perhaps you should look for a different debt management company. Even this schedule can change due to adjusting interest rates, or extra payments, missed payments. If you cannot work out a plan to have the debt paid off within five years, a debt management program may not be right for you. A debt elimination program will allow a person to legally walk away from 100% of their non- secured credit card debt, consolidation, without bankruptcy, or refinancing.

One option to consider is a debt elimination program. A person can take advantage of this program just once. With a debt elimination program, a person can select which cards to eliminate, and which ones to keep. It s kind of a financial" do- over" . The eliminated cards can no longer be used. An elimination program does not perform its function overnight.

The ultimate goal is to learn how to live without credit cards altogether. A good program will have you debt- free in 6- 12 months. Student loans, and any secured, medical bills loans do not apply to a debt elimination program. It will also include an education on the credit card system, so that it is understood just how and why an elimination program can work. Only major credit cards, and unsecured lines, signature loans- of- credit are applicable. For these types of debts, a true elimination program may be the financial re- start people are looking for.

Read more...

Warning Sign# 2: Overusing Home Equity Lines Of Credit - Finance and Credit Articles:

Not everyone who files for bankruptcy is a deadbeat.

Each Line In Your Credit Report Is Then Analyzed And Changed - Finance and Credit Articles:

Credit scoring is system that most creditors and business use to determine if to issue credit cards or loans to an individual.

If You Know Your Credit Score Than It Is Less Likely That You Will Get Scammed - Finance and Credit Articles:

There are a lot of things to pay attention to when purchasing your first car.

Every Credit Card Company Has Different Policies

Category: Finance, Credit.

Okay, so you ve gotten carried away in years past, and now your credit card debt is more than you can handle.

Or maybe you ve been hurt on your job, or have been in the hospital. It happens. These situations could also cause you to fall behind on your credit card bills. Do you ignore the bills, hoping they will go away( and ruining your credit in the process) ? What do you do? Do you make whatever payments you can, even if they are less than the minimum?

Don t wait until calls from creditors become the bane of your existence. The best approach is to be proactive. Here are five proactive strategies that can make the situation better. If you have some cash, then this might be a good approach. Call your credit card company and offer to settle for less than the full amount. One problem is that if you do not have a recent history of missed payments, your credit card company may be unwilling to settle.

Call your credit card company and ask for a lower interest rate. But it s worth a try. Credit card companies generally give better interest rates to their customers who have a strong record of on- time payments. Get a debt consolidation loan and pay the credit card off. However, if you are in a position where a lower monthly payment would make a big difference to the quality of your life or your ability to meet your debt obligations, then you should ask. This strategy is a good one because it can result in lower interest and a lower consolidated payment than you currently make on various debts. Otherwise, you ll end up with more debt than you started with.

If this strategy is pursued, it is absolutely critical that you not run up additional debt after paying off your old debts- not until the consolidation loan is paid off. Stop making payments, and then call, accumulate cash with a settlement offer. However, if you are already in a situation where your credit is damaged and you are most concerned with just getting out of debt, then this might be a good solution. The problem with this strategy is that it causes great harm to your credit rating. This is actually a technique used by some debt management companies. Every credit card company has different policies. Hire a debt management company.

One advantage to having a debt management company represent you in your dealings with credit card companies is that they will have a much better feel for how far they can push it with each of your creditors. The best course of action is to keep making credit card payments, but to increase your payment so that more of your payment gets applied to your principal. For instance, if credit card company X has a policy of only settling for a minimum of 75% of the outstanding balance, a debt management company would be much more likely to know this than you. However, if you are having difficulty making your minimum payments, then this may not be an option. You have to weigh the importance of maintaining good credit versus getting your finances under control. You may have to be willing to take a hit on your credit report.

If your family is suffering and creditors are calling non- stop, then you may be better off dealing with your credit card companies however you can, credit rating be damned.

NextGen Gold Visa Card

Category: Finance, Credit.

The credit card market today is expanding to include undergraduate and post- graduate students under its umbrella.

Many of the banks have been adapting their low- interest and lower- end cards for students use. There aren t many options for this type of card at present. The student credit card market is a fledgling one at present, with banks using models from the USA for their own adapted cards. The most important feature of a student credit card is that there is no lower income eligibility limit, which allows even a person who doesn t earn money to obtain a credit card. Features. Such credit cards are simpler to obtain than normal credit cards, with no income tax returns required. A second major feature of most student credit cards is that they offer a lower cash limit and revolving credit limit, along with a lower service charge on the revolving credit limit.

The only documents required are proof of residence and proof of enrollment at any institute. Finally, there is no joining or annual fee, and the car is generally valid for a period of 5 years, and eligible to students who are 18 and above. A problem with student credit cards that has arisen in the USA, and which we would do well not to emulate is when credit card companies encourage students to use the student card to pay off their student loans. Warning. This plunges them deeper into debt, and often students are unable to pay back the loans on the credit card. NextGen Gold Visa Card. The credit card companies compensate for a low monthly interest fees with an unusually high annual percentage rate, so the bills on a student card should be paid on time and in full.

A good example of a student credit is the Bank of Baroda s NextGen Gold Visa Card, which is a card exclusively for students offering low interest rates as well as the primary features of their standard Gold card. Reminder. The card is a prime example of a characteristic student credit card. 5% revolving credit service charge as opposed to 5% , and a higher APR. Three things that a student must remember before obtaining a student card: The card should be used for small purchases, not for any extravagant items. The details and offers of the card should be studied in full before a card is purchased, with special emphasis on the APR and the late payment charge. The bill should be paid in full before the end of the year, otherwise the high APR kicks in.

What Is A Credit Card

Category: Finance, Credit.

A bad debt is any form of credit where the money lent has not been reimbursed in compliance with the terms and conditions of the borrowing agreement.

A bad debt on your file will make it less easy when you want to borrow money at a future point. A debt tends to become bad where it is not probable that the lender will be able to get their money back. A credit check is a kind of search carried out by a potential loan company to determine whether you are a suitable candidate for a loan. Loan companies can then award you a credit score to see if the fashion in which you manage your finances satisfies their requirements for being granted credit. Loan companies will check out your credit report to become familiar with your ongoing and earlier financial obligations. What is a Credit Card?

If you have a credit card, you can use it to make payments for goods or services instead of using cash or a cheque card. A credit card is a plastic card issued typically by banks, other financial organisations and stores. You then pay the balance accrued on the card back to the credit card provider every month, without being charged any interest. What do Credit Cards charge? However, if you do not pay the balance off in full, you will be charged interest on the outstanding amount. The amount you will be charged for using or having a credit card vary from provider to provider. However, they do sometimes have? added extras? such as free travel insurance, as an incentive.

Some will charge you an annual fee just for having a card, whether you use it not! All credit cards will charge you interest on outstanding balances( ie ones not paid off in full once you have received your monthly statement) Again, these vary. But these deals are time sensitive, so do check the small print. Some may offer introductory rates( such as 0% interest for six months or for balance transfers) . As a rule, the lower the APR( which is the annual percentage rate) , the less interest you will be charged. If you pay off the outstanding balance on your card in full every month, then you will not incur interest charges. Will I have to pay interest on my credit card?

However, if you only pay the minimum amount stated or not the full balance, then you will be charged interest. If you make cash withdrawals on your card, normally interest is charged from the day you withdrew the money until you have repaid it in full. The amount of interest charged will be as shown on your credit card APR agreement. How do I make payments to my Credit Card? There are several ways for you to make payments to your credit card account: by cash or cheque over a bank counter, using the payment slip at the bottom of your credit card statement. by sending a cheque together with the payment slip to the credit card company. via Direct Debit, where a payment is taken monthly from your chosen bank account and paid into your credit card account. It is important that you never miss payments in to your credit card? it can not only incur you extra interest, but could affect your credit report.

What is a Direct Debit? In the case of a credit card company, you can agree that they take either all the balance outstanding every month or part of it. A Direct Debit is where you agree for an organisation? such as your credit card company? to take a variable amount of money from your bank account every month. This means that provided you have enough money in your bank account, you credit card payment will be made on time every month without you having to worry about it. What should I do if my credit card is lost or stolen? To set up a Direct Debit, simply contact your credit card company and it can be organised from there. If your credit card is lost or stolen, contact your credit card issuer immediately.

They will put a stop on your card so that it cannot be used fraudulently. You can find a 24 hour helpline to call on your statement. Also, make sure that when your next statement arrives, that you check it for any unauthorised transactions. You will have to wait for around 10 days for a replacement card to be used.

To Set Up A Policy On Lost Or Misuse Of The Corporate Credit Card

Category: Finance, Credit.

Businesses to be stabilized need to procure a corporate credit card which will define the bounds of business operating expenditures from that of personal expenses in the company.

There are also numerous benefits that the corporate cardholder can enjoy under the terms and contract. This is a good means of keeping an accurate record for reimbursement requests during business travels and purchase of office goods while maintaining personal finances of both the employer and the employees. Some of these are: instant coverage on travel accidents, medical protection for travelers, roadside assistance and insurance on excess baggage, to name the few common privileges. When the employer dispenses the card to the employee, both take the responsibility over the card. These privileges, as part of the business card can also be granted to employees as individual cards, given that they are to be used for business related expenses. However, the employer cannot always be assured that the corporate credit card will be used entirely for business dealings and not for personal luxury.

The key rule is that the primary cardholder is fully responsible for the account charges, despite of any contract between him and the employee. This is why a policy on corporate credit cards must be established so as to ascertain a legitimate procedure as well as the protocol on the use of the corporate credit cards. On the other hand, if the terms of the card will render an equal responsibility to both parties, the employer shall inform the employees of his duty to this matter. Some of the inclusions of the policy are: To explain how the system of the corporate credit card will work. The policy will state an agreement regarding the liabilities of the primary cardholder, who is the employer, and the authorized cardholders or the employees. This includes the benefits, the eligible to, conditions posses the card and the documents required in order to charge the expenses to the corporate credit card. To indicate the maximum credit depending upon the employee's designation in the company.

To explain to the eligible employee his responsibilities regarding the use of the card which he had to sign such as providing an accurate record of transactions that will stand as evidences. To monitor the procedure of auditing the purchases monthly. The authorized cardholders will then receive a pack which contains the necessary information on the corporate credit card policies and procedures. To set up a policy on lost or misuse of the corporate credit card. And because this is a bind that he has to sign, his compliance should strictly be monitored. More importantly, the policies must be fair and reasonable for both parties. The policy must be developed and communicated to the corporate cardholders for strict adherence and there to avoid any misapprehension to occur.

The effectiveness of the policy depends on how both the employer and employees comply with it. This will also serve as a guide in establishing a good relationship between the employer and the employees when dealing with financial matters. If the policies are adhered to religiously, the corporate credit card is an efficient tool in developing the company. And it must be noted that the accountability in handling the business card is a mutual one.

Similar Things Happen To Other Rewards

Category: Finance, Credit.

Getting rewarded as you spend money with your credit card makes things interesting for a credit card holder.

But, there are many things that should be considered to get the maximum benefits from a reward credit card. The cashback, free air travel, free gas, free shopping, discounted merchandise and other freebies that a reward credit card brings with it, add value to credit card ownership. Read on to get familiar with the basics. There is no point in taking a credit card with gas reward if you don' t drive much. Getting the right reward card that' really' helps your cause is the first thing that should be kept in mind while going for a reward card. Similarly, if you rarely fly, an airline miles reward card will be worthless for you. Get clear about it.

What are the limitations to reward program? Ask the credit card agent or representative about store preferences, gas outlets to which the credit card is affiliated, blackout dates, airlines, travel restrictions, reward point accumulation, reward expiry and what is required to earn rewards. A reward program with balance transfer option with 0% intro APR is a good thing to have. A reward credit card with lots of restrictions and difficult to redeem gift vouchers or reward points will only frustrate things on your end. It saves you money on high interest rates, and if used properly 0% intro APR credit card can be a good asset. Credit cards with reward programs have very low tolerance for repayment defaults. A good credit history helps you get a good credit card with excellent reward programs.

Generally, if a person defaults the 0% intro APR ceases instantly and a high regular APR takes its place. These things are not told, to the customer but are buried in fine prints. Similar things happen to other rewards. And fine prints control how your reward program behaves under different conditions. So, it is better to get a good idea about all the things that can affect your credit card reward program before settling for a particular reward credit card.