To Co-sign or Not To Co-sign...That's A Question That Can Ruin Your Credit

Many times in life we are faced with a hard decision.
Whether to co-sign or not to co-sign will be one of those hard decisions.
You have worked hard to keep your credit score high, and you have no problem
whatsoever in getting approved for a any loan or credit card that you apply
for.
Not everyone is so lucky.

What co - signing means to you, is that you are jointly responsible for the
loan or credit card that you are co-signing for. If the person you co-sign
for falls behind on the payments the creditor expects YOU to make the
payment. If the payment is not made, not only will this be a black mark on
your credit, but if the creditor decides to take legal action, they can file
against you too.

If a creditor does this to you, they can sue you for the money owed, sell
your assets, or even garnish your wages to get their money, and ruin your
credit rating in the process.

If you are considering co signing for someone, you need to think very
seriously about what the risks are. You should also ask yourself the
following 5 questions before signing on the dotted line.

1. Are you wiling to lose your assets and good credit rating by co signing?
This is a tough question because you wouldn't be considering helping someone
out if they weren't important to you, and you didn't think they were
responsible enough to make payments.

2. Why does the person need you to cosign? Think about why the person needs
you, is it because they have a really bad history for not paying their
debts? If they are young and wanting to go for their first loan, ask
yourself if they are mature enough and have the financial means to pay the
payments on time for the life of the loan. If you have any doubts about the
person, you shouldn't volunteer as a cosigner

3. Have you read the fine print of the contract carefully?
Make sure you are informed and know exactly where you stand, and what the
lender can and can't do to you. Don't think a lending institution has your
best interests at heart. Make sure that you understand the agreement
thoroughly, and don't let them push you around.

4. Ask about negotiating the terms with the lender, which may include
limiting the liability that you are responsible for to the actual amount
owed, not including penalty fees, or late charges etc. Also, make sure that
the lender will notify you if there are any late payments, that way you can
fix the problem up quickly before it ends up on your credit report, or even
worse the loan is called in by the creditor.

5. Are you able to pay the loan in full if the person you co signed for
defaults? What will happen to you if you have to find the money yourself? If
you can't afford it, don't do it, as much as you want to be helpful, some
things just aren't worth the risk.

If you have the means to cosign and are confident that everything will be
fine, before committing to the loan make sure that you have taken the time
with the borrower to explain the ramifications that will take place if they
default on the loan, and discuss how they will pay you back if this happens.
Don't forget to get everything in writing!

----------------------------------------------------
Liz Roberts is a loan consultant with NHBSInc. They specialize in providing
sub prime financing. For a list of credit cards for people with bad credit
or seeking to rebuild their credit please visit our site
http://www.newhorizon.org/Info/creditbuilders.htm

About Secured Credit Cards

Every time you apply for a credit card or loan, each single inquiry from
that lender will be recorded on your credit report making too many inquiries
is a signal to a potential lender that you are a risky customer just
shopping for credit and not for real funds.

True or not, a secured credit card may be the right type of credit card for
you because it is secured by a deposit account owned by the cardholder. This
deposit consists of 100% to 200% of the total amount of credit desired, that
is held in a special savings account.

However, cardholders of secured credit cards still may expect to make
regular payments as they would with any other regular credit card, with the
only difference being the card issuer has the option of recovering the full
cost of the purchases paid to the merchants out of the deposit if the
cardholders does not pay their credit balance in a timely manner.

Most entities issuers of secured credit cards consider that if the
cardholder does not make the required payment, the account must be paid
anyway and before the security is released instead of taking the money from
the security to pay the balance due.
This is a risk for the cardholders because their card is not cancelled and
the balance does not set off the deposit.

It is sad how easy it is to find that such advantage at first glance is
nothing more than just a financial move to let interest to continue,
accumulating on the unpaid balance for considerable periods of time which
total charges often exceed the original deposit and leading the cardholders
not only to lose their deposit but after that with additional debt that may
become a nightmare to pay.

This is not a threat but a condition usually described in the secured credit
card agreement of some credit institutions that most of the time is ignored
by the cardholders, or something that they do not read, or do not understand
clearly, when the account is opened.

Understanding all the terms of the agreement and not fearing to ask when in
doubt is important because secured credit cards are the most viable option
to allow individuals with poor credit, bad credit history or no credit
history.

In fact, secured credit cards are the best option for rebuilding or cleaning
up your credit history report, particularly if Visa or MasterCard endorses
them, but always bearing in mind fees charged for secured credit cards more
often may exceed those standard fees charged for ordinary non-secured credit
cards.

About The Author: Copyright 2006, Fruzsina csery.
http://www.securedcardsmall.com

Credit Card Offers For People Having Bad Credit Ratings

Once you are in debt, naturally you have to settle any due amount.
Otherwise, you will be known by other people as an irresponsible borrower.
Establishing a good credit history is very important especially if you want
to make a credit card or loan application, or any application which involves
money.

In today's fast changing times, where most people want fast and easy access
in almost anything, a credit card can be very useful. But how are you going
to secure a credit card application if your credit rating is poor?

Different application forms have pre-established criteria. A typical example
is a homeowner versus renters. Credit applications give more weight to
homeowner applicants.

Other reasons why most people have poor credit rating include paying bills
late, default payments, and those who have obtained judgments from the
county court. Credit files are usually kept by certain organizations, and
judgments or bankruptcies are filed for a maximum period of six years. If
you have this kind of problem, securing any credit application would be a
great problem.

Companies which issue credit cards looks into the files kept by reference
credit agencies before approving or disapproving any application made by
individuals. Once a person applies for a credit card, the company will
instantly check with different credit agencies for their credit rating. If
you've made a lot of credit applications and transactions, your credit
report can become large, so it would be wise to ask for a copy of your
credit report and check if all the items listed there are correct. If some
information is incorrect, you can get supporting papers and have it changed.

If you have a bad credit rating, your credit card application will be most
likely turned down, or if it is granted, you will have a low credit limit.
Most of time, these people will not benefit from incentives and low interest
rates enjoyed by applicants with a good credit rating. People with good
ratings can enjoy an interest rate for as low as 5%, while those having a
bad credit rating will be charged a rate of about 25%. You can actually see
the big difference between the two cardholders.

A bad credit rating is not only given importance to a card application, but
to securing loans as well. Almost any application which concerns credit will
refer to your credit rating. So if you are just starting to build a credit
rating, make sure that you start on the right track, and stay on that track
to be able to create a good credit rating. Establishing a good credit
history at an early age is an advantage, and not only that, you will learn
how to be responsible in handling your expenses.

If you are badly in need of a credit card, you can check out companies which
offer credit cards to people just like yourself. Although it may not be the
best, you can probably find it useful in other ways. Shop around and you may
be able to find one.

If you're one of those who already have a bad rating, perhaps it is now time
to make a change. It's never too late, start paying your bills on time.
Although the change happens little by little, over time it will prove to be
rewarding.

About The Author: Mario Churchill is a freelance author and has written over
200 articles on various subjects. For more information checkout
http://www.applyforeasycredit.com.

Controlling and getting rid of student debt

Most of the students nowadays fear debt (Education Guardian, 2006). However,
debt is not necessarily a bad thing, if you can control it. Learning how to
control it early on pays dividends for the rest of your life, as the
likelihood is, you will owe some money to someone until retirement, be it a
mortgage, loans or even leveraging a business. Simple corporate finance rule
of thumb states that individuals and businesses can benefit from a correct
ratio of debt in their portfolio (Brealey et al., 2003, p.
532).

The first rule of controlling your debt is not to spend too much. Students
have a lot of different discounts available to them, so you need to get a
student card as soon as you join the academic institution to be eligible for
the discounts. In turn this means that your purchasing power increases as
you buy the same basket of goods for less. For example, your Debt Reduction
Team offers a wide range of discounts that are available not only to you but
also to your friends and family (SDRT, 2002).

New students usually borrow from the Student Loan Company
(SLC) to fund their fees. This company will allow you to borrow up to £3,000
per year and the debt will need to be paid back once your income is £15,000
or more per annum (City University, 2006). The SLC's interest on the loan
only increases in line with inflation (retail price index), therefore you
will only pay what you have borrowed, plus inflation. The repayments will be
linked to your income at 9% (DFES, 2006, p. 8). SLC loans are primarily used
to pay tuition fees, but of course, you will also need some spending money.
The majority of students will open a credit-card account. However, what you
need to be aware of is that a credit card's interest is a lot higher then
those charged for a loan. Therefore, there are other sources of finance that
you can try first, such as Student Accounts that are provided by most of the
high-street banks. Student accounts will allow you to borrow at 0% interest
(up to a certain amount) during your university years and 1-3 years
afterwards. Most of the high-street banks compete to get students as their
customers, so make sure you check all of the available offers before
settling for an account.

However, if alternative resources have run out then opening a credit card
might be the only option left. In this case you should be looking for a
credit card with 0% on purchases. Most of the credit cards will have a
shorter time-frame on 0% purchases than on balance transfers, so you need to
find a credit card that will give the maximum time on free purchases. Zero
per cent on purchases means that the cardholder pays no interest on anything
that they purchase with the credit card for a certain period of time and
after that timeframe expires, a standard rate of interest is incurred on the
balance (RBS, 2006). The best deals on credit cards can be found on the
internet. There are two things that you can do once you reach the end of the
0% period:

a) transfer the debt to a new credit card provider; or
b) pay off the debt.

Otherwise the debt will start rising out of control. In the first scenario
there are a few things to watch out for.
First of all, when you transfer the balance the amount of 0% purchases will
go down. For example, if a new credit card offers a £2,500 limit and £2,000
is transferred from the original credit card, then only £500 is left for
purchases. Secondly, there will be a fee for transferral, which ranges from
2% to 6%, which needs to be taken into consideration when choosing the best
deal. Thirdly, if the credit card offers a £2,500 limit and £2,500 is
transferred, there will be no money left to spend, which will force you to
open another credit card. Furthermore, most of the credit cards will have a
certain cash withdrawal limit, which is much lower then the credit limit
offered. You should be aware of that limit, and bear in mind that you will
incur credit card charges every time money is withdrawn. So, the best thing
to do is to have a plan of how to pay some of the spending off whilst 0% on
transfers and purchases is still available.

Considering that you have some money coming in and 0% on purchases is
available to you, you can put this income into a savings account (cash ISAs
is one of the best ways of saving, while still allowing you to withdraw at
any time).
Therefore, your income is earning you money, but the credit card is not
charging interest. Once the credit card has to be paid off, the required
amount is withdrawn from the savings account and the credit-card bill is
nullified.

However, what can you do when there is no income coming in?
Unfortunately, you will need to rely on debt. As has been explained
previously, you will need to make sure that you transfer credit balances
before interest payments are incurred. However, there will come a time when
you will run out of money available to you and this will require you to have
some income coming in. As stated before, there are a lot of different ways
of earning income whilst at university. Furthermore, bear in mind that most
future employers will look favourably on previous job experience, even if it
is not related to the job that you are applying for.

Getting rid of debt on completion of university is also not as difficult as
it's made out to be, if you can apply the correct discipline. The first
thing that needs to be done is to understand exactly how much money is owed
(this can include credit cards, loans and store cards). Secondly, debts need
to be put in order of priority. For example, if the credit cards are
incurring 14% interest, whilst 4% is charged on your loan, then paying off
the credit cards should take priority. If you do not have the income to pay
off all of the credit cards straight away there are a number of things that
can be done:

a) transferring the balance to a 0% credit card; b) speaking to your bank
and asking them for terms to consolidate your credit cards (more then one
quote should be obtained) c) calling other debt consolidation companies and
seeing what they can offer (Clear Start, 2006).

Similar stages can be applied to other debts, in order of priority. If
steady income is available (which is higher than the amount spent per month)
then debt is not necessarily a bad thing. If spending is controlled, then
you can pay off outstanding debt, and benefit from alternative debt
available. For example, if you spend against your credit card at 0% per
year, then your outgoings can be put against the credit card, but income can
be put into a savings account allowing those savings to be used to pay the
card off at the end of the free period, so retaining the interest.

Some students think that they can default on a student loan. Defaulting on a
student loan is very difficult. The loan will be automatically written off
by the government after 25 years, if not paid (DFES, 2006).

Although the above work outlines different ways of maintaining and
controlling debts, it should be noted that bad debts and an inability to pay
may be registered with credit reference agencies, which in turn will
decrease your ability to obtain a mortgage in the future (Dwelley, 2006).
Therefore, it is important to control your finances at all
stages: during university and afterwards.

References

Brealey R, Myers S. 2003 "Principles of corporate finance"
International Edition, published by McGraw-Hill Higher Education, p. 532

City University, 2006, "Student Loans – new students 2006/2007" Available
from:
http://www.city.ac.uk/studentfunds/undergraduate/new/loans.h
tml (Accessed on 31/10/06)

Clear Start 2006 "Unable to keep up monthly payments on credit cards and
loans" Available from:
http://www.clearstart.org/credit-card-debts-uk.php?gclid=CPm
QwpvJo4gCFRnpXgoduHknSQ (Accessed on 31/10/06)

DFES, 2006 "Student loans and the question of debt"
Available from:
http://www.dfes.gov.uk/hegateway/uploads/Debt%20-%20FINAL.pd
f (Accessed on 31/10/06)

Dwelley S. 2006 "Student debt and how to deal with it"
Available from:
http://graduate.monster.co.uk/8663_en-GB_p1.asp (Accessed on 31/10/06)

Education Guardian. 2006 "Market logic turns a degree into a share
certificate" Available from:
http://education.guardian.co.uk/students/tuitionfees/story/0
,,1840824,00.html (Accessed on 31/10/06)

NatWest 2006 "Avoiding the student debt trap" Available
from: http://www.he.courses-careers.com/debt.htm (Accessed on 31/10/06)

RBS, 2006 "Credit Cards" Personal Finances Available from:
http://www.rbs.co.uk/Personal_Finances/Credit_Cards/Card_Fea
tures_and_Benefits/default.htm (Accessed on 31/10/06)

SDRT 2006 "Student Debt Reduction Team" Available from:
http://www.wessexscene.co.uk/article.php?sid=273 (Accessed on 31/10/06)

Copyright © 2006 Verena Veneeva

----------------------------------------------------
This article was written by Verena Veneeva professional writer working for
http://www.coursework4you.co.uk You are free to reprint this article;
however should you do so you must place a hyperlink to
http://www.coursework4you.co.uk

Building Your Own Credit History

Modern times require modern actions and credit cards are the modern tools
that anyone may need but not everyone may have.
Establish a good credit history seems to be harder for those individuals who
do not have a credit past, however it can be build up individually for the
first time starting small.

Your credit history determines many economy-related activities in your life
including getting a job, obtaining reasonable rates on insurance, purchasing
an automobile or renting an apartment. So starting small building your
credit history means that you can do some research for department stores and
financial institutions where you can apply for small amounts of credit.

Do not forget to get a written copy of the conditions, terms and fees
applying to the type of credit chosen. Penalties for late payments and
interest rates may be slightly higher that other regular credits if the
applicant does not have established credit.

Most experts recommend you to request a copy of your credit report from the
three national credit bureaus. Yes, you may not have a credit history yet
but the request will make the bureaus create the reports making it easier
they put files on your credit report as soon as you start getting small
credits.

Although there is, a possibility of getting those reports with information
already included because any credit purchases made in your past is reflected
on your credit history. If the file exists, make sure the information is
accurate or immediately report any incorrect information so that they can
take action to correct your file.

Another good option in building your credit history is to open a bank
account, either a savings or checking account. Analyze the bank's financial
products because there is no need to be a big investor to find some type of
products offering savings accounts, checking accounts and debit card as a
whole.

always Keep in mind that your bank accounts are to build a good credit
history so do not miss your goal using them to purchase until you are in
debt or you bounce checks. Getting a loan may round your credit plan if you
pay consistently and pay all bills in a timely manner, so the granter may
report this positive information to the credit bureau.

There are other useful strategies to build a credit history or improve your
credit score if the history already exists. Apply for a secured credit car
or prepaid card, open utility accounts such as gas, electric and phone
service are just a few of them.

The most important thing to remember, use your cards or credits regularly to
ensure that your report is updated regularly and pay your bills on time,
because lenders look at the most recent information on your credit history
report.

About The Author: Fruzsina Csery is a freelence copy writer.
She occasionally writes for
http://www.credit-card-for-students.com Student Credit Cards

Effective Ways Of Getting Rid Of Credit Card Debt

It is a fact that owning a credit card can give you lots of advantages. But,
sometimes owning a credit card also has its disadvantages. Many people go
into credit card debt that resulted from compulsive purchasing. It is always
recommended that when you get a credit card, you should only purchase good
or services within your financial capabilities.

It can be very frustrating if you get into a credit card debt.
It is therefore wise to consider a few things in order to avoid or get rid
of it. You don't want to end up paying off interest rates for years before
you can pay off the actual debt. Here are some things you should consider in
order to avoid or at least get rid of your credit card debt and avoid
financial woes.

Having a lot of credit cards can be very hard to manage and you may end up
getting into debt. So, if you have a lot of credit cards, and it is
difficult for you to manage, try and cut off some of the credit cards to
avoid getting into a considerable amount of debt. People are usually tempted
to use their credit cards. Therefore, it is wise to get rid of other credit
cards so you can concentrate on your remaining credit cards. The best way to
do this is to close the credit account as soon as possible after you paid
off the debt.

Consider using your credit cards for emergency purposes only and by making
online purchases. Having at least one or two credit cards is enough to avoid
getting into debt.

Impulse buying is another problem that many people face with credit cards.
If you keep at least one or two credit cards for emergency purposes, you
will still end up having that urge to buy that new pair of shoes or treat
your spouse to dinner. One solution to avoid this is by freezing your credit
cards, literally.

What this means is that you simply have to put your credit cards in a Ziploc
bag, fill it with water and put it in the freezer. This will make it less
convenient for you to buy the things you want. When the time comes that you
need your credit card for emergencies, you can always thaw the credit card
and use it.

Another way to avoid getting into a high amount of credit card debt is by
paying off more than the minimum monthly payment. By doing this, you can
save a lot of money in the next due date.
Minimum payments may sound very attractive but this is one of the strategies
of credit card companies to get more money through interest rates. Start
paying off your credit card with the highest interest rates. For example, if
you are required to pay a minimum of 100 dollars a month, start by adding at
least 20 dollars. You will see that you will save a significant amount of
money by just adding 20 dollars a month on the minimum payment.

If you plan on closing a credit card account, make sure that you pay all of
it off before you close it. Some credit card companies will charge you a
higher monthly interest rate for the reason of closing an account that still
has an outstanding balance.

These are the things you should consider in order to avoid or get rid of
your credit card debt. However, the most important thing you should remember
to avoid getting into credit card debt is by simply budgeting wisely. Make a
payment plan in order to avoid accumulating credit card debts together with
high interest rates.

About The Author: Mario Churchill is a freelance author and has written over
200 articles on various subjects. For more information checkout
http://www.firstglobalcreditcard.com and http://edblogonline.info.

Gas Rebate Credit Card On The Loose

Everyday, many people use their vehicles to go to work, to grocery stores,
malls, or any particular place they would like to go. Vehicles need
gasoline, and to some people, buying gasoline frequently is a bit heavy on
the pocket.

But did you know that you could actually save a lot of money in going to a
gas station almost every day? Yes, and that can happen if you have a gas
rebate credit card.

Don't expect for the price of gas to come down. Almost every commodity in
the market has their prices soaring higher and higher. In purchasing fuel
for your vehicle, you can get a discount if you only have a gas rebate card.

Gas rebate credit cards works like that of cash back cards, but instead of
receiving it once every year; you will be able to receive a certain amount
in credit form each month.

Gas rebate cards are widely available, and all you have to do is to select
the best one. The card member earns interest; and this interest greatly
varies depending on the offer.
Introductory offers for gas rebate cards have a maximum rate of 6% in order
to attract customers, but after some time, it is also reduced.

There are gas rebate cards offered by many gas companies which are called
'brand specific' cards and is used only in a specific location. This is an
advantage for people who purchase their gasoline or fuel in one particular
station. But if shopping around is your habit, or if you frequently have
out-of-town travels, this would be a disadvantage to you.

Because of certain advantages and disadvantages, most of today's companies
which cater to general purpose cards are offering gas rewards. The amount is
accumulated every time you make a purchase from any gas company.

The rebates given every month also varies, so before making any application,
you should make sure that it is fitting to your needs. There are different
rebate types given to customers, therefore you should ask for the type
before proceeding with the application. Usually, rebates are given every
month in credit form to a specified account of a card member or holder.

You should also consider these things: (1) gas rebate credit cards have
certain restrictions, and (2) other companies set limits on the amount of
annual rebates.

Annual fees should not be a cause of worry because most of gas rebate cards
don't charge any. However, you must be aware that the interest varies month
after month. And if you can't pay all your dues at the end of the month, and
have a remaining balance, this is of utmost concern for you.

Everything has limitations, and gas rebate cards are no exemption. Before
selecting one particular card, you must compare all their advantages and
disadvantages while considering your current needs.

With gas/fuel prices pumping high in the market, many customers will look
for the best gas rebate card available. And if you're one of those people,
you can start by looking around your local area or you can visit several
sites on the internet which features gas rebate credit cards.

You have to know a great deal about gas rebate cards; and how it actually
works. A little knowledge would do, at least you will not be ignorant about
it. These cards will truly help you in your gas/fuel dilemma; especially
those who owns a car or two and regularly uses them.

About The Author: Mario Churchill is a freelance author and has written over
200 articles on various subjects. For more information checkout
http://www.supercreditcardoffers.com and
http://credit-card-offersonline.info.

Low Interest Credit Cards

Credit card usage is on the rise and it's hard to know which credit card is
right for you. If you follow a few simple guidelines, you can be sure to get
the most out of your credit card. Beware of high interest rate cards as they
can cost you more than you are willing to pay in the long run. Low interest
credit cards are very prevalent and if you do some simple research, they can
be a great financial tool.

When looking for a low interest credit card, be sure to read all the terms
and conditions. Many low rates are just introductory and can rise
significantly after the specified time period. Some can go up to 30 APR or
more, so be sure to read the terms and conditions carefully. Most credit
cards are variable after the introductory period and are based on your
individual credit. Variable cards add a certain percentage point to the
current prime rate, which is subject to change.

Most companies provide a 0% APR, Annual Percentage Rate credit card as an
introductory offer. Many last six months, but some can last up to a year or
longer. Again, beware of how high the subsequent interest rate goes up.
These cards are great to transfer existing balances to so that you can save
money and pay them off quicker. Just be careful not to fall into the trap of
charging more than you can afford to pay off, simply because of the low
interest rate.

A low interest rate credit card is beneficial to all people, regardless of
your financial situation. Even if you are able to pay off the balance each
month, you never know when an emergency will arise. Having credit readily
available can be a lifesaver in a crucial time. Having a regularly used
credit card is also good for your credit. It proves that you can use credit
wisely and makes you a better risk. If you are not able to pay your card off
entirely each month, having a low interest rate credit card versus a high
rate card will save you hard-earned cash.

Before choosing a card, browse credit card companies' websites.
Many times, reward programs will be offered at no charge with which you can
get cash back and discounts. Also, be aware of whether a company charges an
annual fee. There are so many cards out there that, unless your credit is
shaky, you can easily find a card with no annual fee. Most websites will
allow you to apply online and some will give you a decision instantly.
If you are not comfortable with applying online, you can also call and apply
over phone.

Low interest rate credit cards are a valuable tool in anyone's financial
arsenal. If you are careful to consider all your options and read all the
fine print, you can get a great card that is tailored specifically to your
needs. Low interest rate credit cards are truly the best credit cards to
hold.

About The Author: http://www.creditcardsman.com

Understanding Credit Card Apr

If you have a credit card or are looking to get one, it is important that
you understand the ins and outs of credit card APR. Credit card APR is the
biggest factor in determining how much you pay for your credit card, and so
to get the best deal you need to know what it is and how it works. Here is
some advice regarding the ins and out of credit card APR.

What is APR?

APR stands for Annual Percentage Rate, and is a measure of the cost of the
credit you borrow. The APR is the amount that you pay yearly in interest on
the money that you borrow on your credit card.

How much is credit card APR?

Credit card APR can vary massively depending on your financial situation,
the type of card you want and the deals on offer.
Generally, credit card APR ranges from 10-18%. If you shop around then you
will find the best deal for your needs.

How do I find out the APR?

Credit card APR is very easy to find out, and all lenders are required to
tell you the APR of a card before you sign up for it. Also, credit cards are
generally advertised by the cost of their APR.

Comparing APR

If you are trying to find the best credit card deal, then there are many
places online where you can compare the various APR rates of credit cards
from different lenders. Although there are other costs involved with credit
cards, generally a lower APR is better.

O% APR deals

If you are looking for a credit card, then you might see 0% APR credit card
deals advertised. Although many of these deals are not what they seem to be,
there really are some great introductory offers to be had. Some cards do
offer 3 or 6 months with 0% APR, meaning that you can use your credit
without paying any interest during this period. This gives you basically
free credit, providing that you pay it back in this time.

Drawbacks of 0% APR

The drawbacks of these deals are that there are often hidden costs involved,
such as high fees if you miss payments or go over your credit limit. Also,
once the 0% period ends the credit card is generally has a higher APR rate
than other cards. To use 0% APR cards to your advantage, you should look for
one that has a fairly low rate after the initial period, or swap cards once
the 0% period ends. If you invest a little time and effort you can skip from
0% APR to 0% APR on various cards.
Of course, this can make you look financially unstable so you should be
careful when swapping cards frequently. However, if you understand APR rates
then you will be able to find a great credit card deal.

About The Author: Peter Kenny is a writer for creditcards-gb Please visit us
at http://www.creditcards-gb.co.uk and
http://www.thriftyscot.co.uk/Credit-Cards/

A Guide For Student Credit Cards

Oh, what a wonderful and terrifying time going off to college can be. Moving
away from home and making it on your own is a huge step. You have taken all
of the right classes to prepare you to succeed as a college student. But,
you need the proper education outside the classroom in order to succeed.
That includes knowing how to handle your student credit cards.

Keep Your Head On Straight!

One of the first things you will notice when you arrive on campus is that
there are student credit card vendors everywhere. It makes sense, really.
The credit card companies want to establish relationships while their client
base is young. This relationship can lead to car loans and mortgages down
the road, not to mention finance fees generated by the exuberant spending of
American youth. Before you embark on this smorgasbord of credit consumption,
you ought to consider a few things.

Consider, for instance, that the average student ends their college career
with just under $3000 in credit card debt. An astounding ten percent of all
students graduate with more than seven thousand dollars in credit card debt.
I know, I know, you hear this statistic all of the time. It seems abstract
and it is easy to tell yourself, "Well, I'm not the average student; I won't
fall into that trap." That's good. No, really, that is a great frame of
mind. The (difficult) trick is to keep that perspective so you don't get
seduced by your newfound spending power.

Some Quick Tips

Here are a few quick tips to keep your finances in order:

1. Keep your card count low - Have you ever seen John Q.
Consumer with 39 credit cards in his wallet? Absurd. Since you are just
starting to build your credit history you shouldn't need more than a couple
of cards. Choose wisely.

2. Shop Around - Don't grab the first credit card offer you see. There are a
ton of options out there, and a little patience will get you settled into
the card you need, and possibly save you much money and stress over the long
run.

3. Pay Your Balance!!! - It's the cardinal rule for developing superior
credit: keep your balance low, and pay it off completely when it's
appropriate. If you do this now, you will get far better credit card offers
in the future.

4. Tell Your Parents - Yeah, yeah. it's the last thing any college student
wants to hear. "Tell your parents." Um, yeah. right. Well, in spite of your
new independence you should let your parents know about your credit cards.
They are a good resource for not just emergency financial support, but more
importantly, for financial advice.

"In Conclusion."

Finding the right student credit card can make all of the difference. Two of
the most popular student credit cards are the Citi Platinum Select for
College Students, and the Discover Student Clear Card. The Citi Platinum
Select Card is an all around solid choice for first time card owners. It is
an essentially bulletproof option for any student looking to establish
credit history without having to worry about a minimum income, or a
co-signor on the card. For those students looking for a little extra, they
should start with the Discover Student Clear Card. The Clear Card has a lot
of extra features, including up to 5% cash back on specific purchases. Both
cards share a six month introductory APR of 0%.

When you arrive to college it is a good idea to get a student credit card or
two, but it's a better idea to use them wisely.
You will quickly find that the right card is an extremely useful tool for
your purchasing habits and developing a stable credit history. You shouldn't
be afraid of credit card ownership; rather you should realize that this is
an early step to develop a happy financial picture in the long run.

About The Author: Click here for Student Credit Cards. Ed Vegliante runs
http://www.Credit-Card-Surplus.com, a credit card directory enabling the
consumer to compare and apply for credit cards.

Credit Card Late Fees - How To Avoid Them

Credit cards have become a common means of paying bills. It is very
convenient because you need not make any cash payments from your pocket.
Though credit cards are easy to use, they come with a fee that is charged by
the credit card company. It is advisable to pay credit card fees on time
because being late will cost you a lot of money.

Many credit card companies charge a penalty for late fees, so it is
advisable to pay up in time, to avoid the penalty. The average late fee for
credit card used to be 12 dollars in 1994; by 2004, it rose to 32.65
dollars. It has now gone up to a whopping 39-40 dollars. Hence, it is
prudent not to delay your payment.

You can stay away from late fees by various methods.

1. The best way to avoid late fees is to be fully aware of all the
conditions and restrictions related to your credit card company. You can get
the information of the guidelines on the back of the credit card bill that
your company sends you. Try to make use of the specified instructions of
payment in order to ensure that your money reaches them on time, without any
problem.

2. Having a good record can always help. As a responsible credit card user,
you must try to maintain a good record of your payments because many
companies that issue credit cards make considerations on the late fees if
you have a good payment record. They do this as a special courtesy for their
responsible customers.

3. If you forget to pay your credit card fees, and the due date is already
upon you, you can avoid the late fees by paying via the telephone, instead
of using the mail. To enable this, there is a toll free number on the back
of every credit card. In order to make payment you need a check number and a
bank routing number. You can find these numbers at the bottom of every
check. Once you make the payment you should tear off that check, as you
cannot use it again. Some credit card companies keep this facility free of
cost for their customers while others charge about 5 to 20 dollars. Make it
a point to ask your credit card company about this facility.

4. In case your company does not offer you the facility to pay your bills by
phone, then you can always use express mail for payments. Although using the
express method may cost you extra money, it will be less than the late fee
that your issuer may impose on you. Besides, it will help you send your
money to the company as soon as possible.

5. Try paying online. Many companies accept payment through the Internet.
This method can prove to be very useful if you are traveling.

6. If you do not have the required cash to pay your bills and the due date
is approaching, then you can talk to your credit card company and set your
own due date for payment. Set the due date at a time when your salary
arrives. Hence, enabling you to pay your bills without late fees.

Therefore, in order to keep your credit card use hassle-free, remember to
make your payments on time and in the right manner specified by your credit
card issuer. Try and stay out of the late-payment cycle to avoid the extra
cost in the form of late fees.

About The Author: Joe Kenny writes for the UK personal finance sites
http://www.ukpersonalloanstore.co.uk and also http://www.cardguide.co.uk

Getting The Best Credit Card Deals

Searching for credit card deals can really work to your advantage if you are
looking for a new credit card. If you search for credit card deals, you may
stumble upon a good credit card deal that offers a lot of benefits to the
credit card user.

It is always important to remember that when you apply for a credit card,
you shouldn't just apply to any credit card companies. You should always
remember that your credit score should be considered in order for you to
have a good credit rating in the future. You may not know it but applying
for a new credit card should be considered carefully.

When searching for a credit card, you should look for these credit card
deals in order to get that benefit you've always
wanted:

-New Cardholder Incentives

A new cardholder incentive will work to your benefit well. Some credit card
companies that offer this kind of deal will allow you to make purchases
without interest at an extended period of time. With this benefit, you can
make purchases without worrying about the interest rate. Some credit card
companies offer this kind of benefit for up to 60 days while some offer this
benefit for up to six months or even longer. With this kind of benefit, you,
as a cardholder, can save a lot of money on interest while quickly paying
the purchase off.

-Rewards

Another great deal you should look for is the rewards program that some
credit card companies give to their credit card holders. Rewards program
vary from company to company but pretty much works the same way. This kind
of deal works when a cardholder uses their credit card frequently. The more
a credit card holder uses their card, the more points they accumulate.
The points can be converted into cash back, flight points, and other prizes.
If you use your credit card frequently, this kind of deal is for you.

-Interest Rates

This is what most people look at first when they apply for a credit card. A
good credit card deal should include a low interest rate. Most credit cards
have 22% interest rates. So, if you can get a credit card deal with an
interest rate lower than 22% then you are on your way on getting a good
credit card deal.

-Annual Fees

Annual fees are also something you should look for when you are looking for
a good credit card deal. High annual fees are definitely not worth your
time. If you can get a credit card with a low annual fee along with other
great deals mentioned, you should go for it. Low annual fees should be
specially considered if you keep your credit cards for emergency purposes
only. You don't want to pay for that extra fee if you don't frequently use
your credit card.

Finding a credit card with good deals isn't always easy. This is why you
should try hard looking for one that has at least two of the deals mentioned
above. Try to consider where you use your credit card and determine which
credit card deals are best suited for you.

By doing this, you can protect your credit rating and at the same time, save
lots of money on charges that you don't have any use from. Get a credit card
with great deals.

About The Author: Mario Churchill is a freelance author and has written over
200 articles on various subjects. For more information checkout
http://www.firstglobalcreditcard.com and http://edblogonline.info.

5 Tips To Protect Yourself From Ebay Scammers

Ebay is the world's largest marketplace with millions of dollars of
transactions taking place every day. As such it also attracts a fair number
of unwanted personnel, ebay scammers.

Here are a few tips you should note when buying and selling on ebay to avoid
falling into the traps set by ebay scammers

1) Payment Terms

Whether you are selling or buying anything on ebay, never agree to use
Western Union or Money Gram for your transaction. It has been proven unsafe
by numerous ebay users and it is also against ebay's safe payment policy.

2) Beware of Phishing

Phishing is when someone sends you a spoofed email asking for your personal
details usually from a recognized company or authority. Usually, they will
have a link asking you to submit your details on that webpage.

Do not submit any personal information regarding your ebay login account
through it. If you are not sure whether it is authentic, call ebay and asked
whether an email was sent to you. In all my years with ebay, they have never
me an email asking to verify my ebay account login or credit card details or
any of that sort. This also applies for Paypal.

3) Monitor Your Ebay Account

You need to monitor your ebay account closely for any suspicious activity.
Examples may be any feedback left, transactions closed, auctions you have
listed Without your knowledge. Inform ebay the moment you suspected your
ebay account is being compromised.

4) Second Chance Offers

This seems to be the new favorite scam with ebay scammers and I've seen a
couple of them. If you receive a second chance offer for an item you
recently bid, check it is from your ebay Messages inbox with the title "ebay
Second Chance Offer for ."If it is, it is authentic. If the email is not in
your ebay message inbox or the email title is different, then chances are it
is from an ebay scammer. If you are not sure, contact ebay and ask to verify
it.

5) Ebay Toolbar and PayPal SafetyBar

Ebay provides a toolbar which can determine whether you are on a legitimate
ebay or paypal site. My advise is to install it since it's free. Paypal
Safetybar can also detect scam emails in your inbox

By Following the five points above, you will reduce your chances of being
scammed by a ebay con artist.

About The Author: Ricky Lim is an ebay powerseller who runs an ebay selling
tips site at http://www.bestnzb.com Visit his site for more selling tips on
ebay dropshipping and ebay bid snipers etc.

Watch Out For Bad Apples Who Offer Consumer Debt Counseling

Some people may wonder about the point of having a non-profit organization
such as those that provide credit counsling. After all, everyone wants
something, it is hard to believe that organization exist in order just to
help people.

If you are skeptical about the altruistic motives behind a company that is
set up to help consumers with credit card debt settlement through methods
such as consumer debt counseling, it might be useful to be informed of the
benefits offered these companies for holding the non-profit title.

First of all, having the non-profit lable exempts these companies from
federal taxes, even though they exist in order to help people settle credit
card debt. In addition, they are usually exempt from several state taxes,
which means that they save thousands of dollars every year just by being
non-profit.
The label also means that many of these companies are eligible to receive
governmental grants and private grants as well each year.

Creditors will also tend to look upon non-profit organizations positively as
this status is mandatory in order to initiate Fair Share contributions.
Finally, non-profit status will also allow companies to avoid consumer
protection laws in some states, which increases their ability to make
profits. It should come as no surprise that major credit counseling
companies proudly display their status as non-profits for all to see. Many
of these companies, however, use this label as a way to trick potential
customers in and accomplish their real goal, which of course is maximizing
their profits.

Although this is true of several credit agencies, it is not the case for all
and there is legitimate help out there for consumers who are seeking to
reduce their debt through these services. One of the first things to look
for when determining whether such a company is legit is to find out if it is
accredited through the National Foundation for Credit Counseling or the
Association of Independent Consumer Credit Counseling Agencies. The Better
Business Bureau is of course another way to determine the kind of services
the company offers, and if they have done so in a consistently honest way.

Good credit counseling agencies are a necessity for debtors, and individuals
must keep this in mind. The agencies help debtors to create debt management
plans and to get their financial house in order before disaster strikes.
They also carry clout with creditors and can therefore help to lower
payments and interest rates, as well as eliminating late fees and finance
charges. Many companies will also help debtors by calling off collection
agencies and other organizations that try to get the money out of the
debtor. Remember when you are looking for a company that can help with debt
management that you have to be very careful in what you settle for.

About The Author: Focusing on the area of consumer counceling, Eric
Slarkowski pens primarily for http://www.creditenio.com .
You can find his writings over at
http://www.creditenio.com/ccsettlement.html and various other sources for
credit card debt settlement tips.

Debt Counselling Is Never Free

On hearing the word free, many people immediately close their ears to what
comes next and jump on the offer made. When you are searching for a way to
get out of a lot of debt, it pays to avoid your old habits and look deeper
into a matter when the word free is uttered. One way to go about this is to
find out exactly what is free in the offer. Those opting for debt
counselling services, for example, should keep in mind that no service is
ever free. Instead, it is some of the aspects of the process that are free.
One example is the idea of the free debt consolidation quote.

These quotes often come about in the process of consumer debt counseling.
One of the first steps in this process is research, and a quick look on the
Internet will demonstrate that there are plenty of companies offering free
quotes. Because of the abundance, it is advisable to apply for a few of
these to make sure that you can find the best deal. Remember that if the
search is registered and forwarded to your credit card that you might
recieve a mark on your credit history, so you will want to apply to discrete
companies and possibly limit the number you apply for if you have a poor
credit history.

IN order to receive the quote you will need to fill in forms that clarify
certain information, including your personal contact infromation such as
phone number and address as well as the amounts of your outstanding debts
and who the money is owed to. Once this information has been submitted, the
company with whom you applied will assess the application and determine if
you should be contacted for a discussion. SOme companies will use this
opportunity to pitch a hard sell as to why you should use their particular
loan; remember that you are still in the decision making process and that
there is no obligation to use the company at this time. The free quote
should give you an idea of which of the comapnies you short listed will fit
in with the plans you have for your financial future.

As far as free debt consolidation goes, there are a number of source
available. THere are many non-profit debt counseling operations that have
websites where they make their information available to the public. Many of
these sites will offer sound advice on avoiding shady lenders who offer
great deals on loans as well as pointing out options beyond taking out a
consolidation loan. Remember to check the website to see if there are any
advertisments, especially from financial institutions who are using the
organization to further their own profits. When free advice is also
sponsored by a certain company, it is a pretty safe bet that the person
checking the advice is being led towards a specific goal that is in the best
interest of the sponsor rather than the client.

The Internet is a great tool for exploring the free aspect of debt
reduction, as there are many different sites available both for quotes and
for advice. Remember that shopping carefully is the key, and that you should
compare as many compannies as you can. Further, avoid any companies that
claim to offer a free loan, because these in fact are never free.

About The Author: Kenneth Morris is writing primarily for
http://www.creditenio.com , a web publication on business debt and credit
repair. From his writings such as http://www.creditenio.com/counselling.html
,the author improved his knowledge on information relating to debt
counselling.

How To Use Your Credit Card

Although credit cards can be an invaluable financial asset, unless you use
them wisely you will find yourself drowning in debt. However, if you use
your credit card wisely then you can save yourself money and be able to
purchase the items that you could not afford in one lump sum on your current
wages. Here are some tips about how to use your credit card wisely.

Building a credit history

One of the best ways to use your credit card wisely is to use your card to
build up your credit history. People who borrow and pay back the money
responsibly have a much better credit history than those who never borrow at
all. If you spend money on your credit card and then pay it back quickly,
you will be seen as a good borrower and you will get better deals on other
financial products like loans and mortgages.

Paying off your balance

Another sensible way to use your credit card is to only charge to your card
what you can afford to pay back each month.
Although this is not always possible because of large purchases or
unexpected expenditures, you should generally try to budget to pay all or
most of your balance back each month. If you can pay back your balance in
full each month then you won't be subject to the high interest rates of your
card. However, even if you can't pay back the whole amount, make sure you
pay back more than the minimum payment. Paying only the minimum will leave
you wasting money on interest and your balance will a lot longer to pay off.

Keeping cards at home

If you are having trouble with your credit card spending, then a good way to
avoid the temptation is to leave your credit cards at home unless you really
will need them. If you are simply going out on a small shopping trip, leave
your cards at home so that you won't be tempted to buy anything extra. Only
take your credit cards out when you really need them, or in case of
emergency.

Balance transfers

If you find that your credit card interest payments are very high, then a
good way to reduce this is to switch your balance to a card that has 0%
interest on balance transfers for a certain period of time. This will mean
that you can pay off the balance without having to worry about interest for
the next few months.

Shopping online

Shopping online has become increasingly popular, mainly because of the
convenience it offers and the low prices available. When shopping online it
is important to always use a credit card to purchase items. This is because
credit cards are much safer than other forms of payment, and offer purchase
protection.
This means that if something should go wrong with the sale, you have the
ability to claim the money back from the credit card company. If you use
your credit card wisely, then you will avoid getting heavily into debt and
will have the freedom that using a credit card can afford you.

About The Author: Peter Kenny is a writer for creditcards-gb Please visit us
at http://www.creditcards-gb.co.uk and
http://www.thriftyscot.co.uk/Credit-Cards/

Credit Card Consolidation- A Great Way To Lower Interest Payments

The most popular form of debt consolidation is called credit card
consolidation. This method is used in order to reduce the high interest
rates charged by credit card companies. The credit card consolidation allows
an individual to apply for a loan that is used to pay off all high interest
credit card debt and then result in a once a month payment to the loan
lender rather than multiple payments to credit card companies.

Why Should I Consolidate?
There are many reasons why you should consolidate your loans.
The biggest reason to consolidate your loans it to reduce the amount of
money you pay overall. Generally credit cards carry high interest rates and
when you have a variety of credit cards to pay you end up paying more money
on interest than you maybe should. So, when you consolidate your debts you
have one interest rate, which most of the time is substantially lower, so
each monthly payment you make goes further paying your principal than it
would have otherwise.

Also, making one monthly payment is considerably easier to do than making
many different payments to different credit card companies. Reducing your
payments to only one will make it easier to make the payment on time and pay
off the credit card consolidated debt.

What are the Risks?
Just like with any other loans there are risks involved. Many times in order
to receive a credit card consolidation loan you will need to have some type
of security. In many cases this is a home or real estate. Lenders like to
know their loan is secured because it means you are more likely to make
timely payments and pay off the loan. Also, the lender will receive the
security in the event the obligation cannot be met. So, if you are
considering applying for a credit card consolidation loan make sure you are
aware of what is required of you and if the benefits outweigh the risks for
you.

Making the Right Decision
If you have a lot of credit card debt and the interest rates are keeping
your balances high and making it impossible for you to pay off your debt
then you are more than likely interested in credit card consolidated loans.
However, you must evaluate all of the available information to make sure it
is the right decision for you. A loan to consolidate your debts is a great
option for some and a bad option for others. It really depends on your
personal circumstances and takes a little bit of research and evaluation to
make the right decision.
Fortunately, when evaluating the information you can easily determine if it
is the right option for you or not.

About The Author: http://www.onlinedebtnegotiation.net

Checking On Your Credit Report So You Will "Cap"

You may want to consider doing a thorough check on your credit report if you
haven't done it for a while. You might be surprised at how inaccurate and
out-of-date many of these reports really are. If you're like me, though, you
assume that everything is okay until you get denied a loan or apply for a
credit card that gets turned down. Then, you know something must be wrong
and finally take the initiative to investigate the matter.

I finally took the leap and evaluated my own credit report after I was
initially declined a loan. I was shocked by the things I found on that
report. They listed debts I had paid off over a decade ago and still listed
them as being unpaid. I never knew these debts were still on my report and I
was furious with the companies that were happy to take my money but didn't
bother to update my records, making my credit report look bad.

I discovered that, even though I had made payments on time and the debts
were clear, these parts of my report were ruining my chances of getting the
loan I wanted because it looked as though I still had longstanding unpaid
debts. The loan companies use my credit report to evaluate my application
and to determine my ability to pay back a loan. This is called the
"customer's cap", by the way. The word "cap" means "capacity to pay".

I used to be a loan officer once, so I should know the importance of having
accurate information on an individual's credit report. As a loan officer, I
would look at the applicant's report and make some calculations to see what
the person's "cap" was. From that, we knew who were the most likely to be
able to make payments on the loan we were offering them and who weren't.
Loans were granted and denied on the basis of the individual's "cap" and
their credit report. I hated telling people they couldn't qualify for a loan
but, business was business, and we really had to do it.

The math involved in granting a loan is complex, but basically, if we decide
a person's debt is higher than his or her income, he or she won't "cap".
This means that the person just won't get the loan they are looking for. The
loan officer needs to make these determinations so that the loan company
won't end up making a bad decision and so that the customer won't be
overtaxed by loans they can't afford.

In my case, the credit report showed that I may have problems making
payments on the loan I was interested in because I still had these outdated
balances showing up as obligations. After a few tense phone calls, I was
able to fix my credit report and, in spite of the hassle, I got the loan I
was looking for.

About The Author: Read more from this author at:
http://www.mymoney-magazine.com

How Will Settlement Affect My Credit?

Settling for lesser than the amount owed on a credit card might leave a
smudge on your credit report. However, a smudge is much better than the big
old smear that would appear if you defaulted completely and the credit
company wrote your debt off. So, if you are over your head in debt and need
some help, yet don't want to ruin your credit, then consider credit card
settlement.
What is a Debt Consolidation Loan?

A debt consolidation loan is like any other loan except for the fact that it
is designed to help you pay off debt and consolidate it into one payment and
one lender. This has many benefits for the individual in debt and it is
really a great way to get on top of that debt that has been causing you so
many headaches.

Where to Apply?
The majority of financial institutions offer debt consolidation loans. This
includes banks, credit unions, finance companies, and other types of
lenders. Once you have applied at one of these places for a debt
consolidation loan you will receive either an approval of the loan or a
denial. The better your credit the better chances you will receive the debt
consolidation loan.

What if I have Bad Credit?
If you have bad credit you can still apply for a debt consolidation loan.
However, you will want to do so with a finance company or bank that works
specifically with individuals who have bad credit. You will find many times
the terms to be higher and stricter than if you had good credit, but there
are options for individuals with bad credit who are interested.

What Next?
After you receive your debt consolidation loan you will need to pay off all
of your debt. This is basically transferring a bunch of small to medium
sized debts to one larger combined one.
However, the benefit is that you will only be required to make one monthly
pay and it will be less than the combined payments for the other debts you
were making before.

What NOT to do
Once you have received your debt consolidation loan and begun paying it back
you might feel like you have your debt under control again. This might make
you feel like using one of those credit cards that has a balance of zero.
However, this is the biggest mistake you can make. When you get a
consolidation loan you need to focus on paying it off and not engaging in
the same activity that got you into debt in the first place. So, cut up
those credit cards, store them in a safety deposit box, or just hide them
from yourself. You don't want to close your accounts because that will hurt
your credit, but you absolutely do not want to use your credit again unless
there is a MAJOR emergency that cannot be taken care of in any other way.

If you follow these tips and suggestions you will find yourself debt free
before too long and better able to control your spending. This is important
for financial freedom and it simply takes dedication and personal control.
You can do it if you really want to, so just make getting out of debt and
staying that way a priority!

About The Author: http://www.americandebtadvisor.com

When To Get A Secured Card

Many people who have never had a card before or who have a poor credit
history can find it hard to get themselves a credit card.
Even if you have a good job and a mortgage, if you have had problems in the
past or no card previously, you might be turned down. If this is the case
then there are alternatives open to you, such as getting a secured credit
card. If you want to know more about getting a secured credit card, then
here is some advice about secured cards and how they can benefit you.

What is a secured card?

A secured card is a card whereby you tie up a monetary deposit in a bank in
order to get a credit card. Your credit limit is then 100-150% of this
amount. There are no credit checks necessary for secured cards, and the more
money you can tie up then the higher your limit will be. The amount that you
tie up will earn interest, but you cannot use the amount at all whilst you
are using the card.

Why get a secured card?

Of course, the main reason why people get a secured card is because they
cannot get hold of a regular credit card. Secured cards give people with
poor or no credit history the chance to build up a good credit record by
spending on a credit card. If you spend wisely on the card and pay back your
bill each month then you will quickly build up a better credit history and
be able to get an unsecured credit card.

Advantages of a secured card

Apart from the fact that a secured card allows you to get hold of a credit
card with the features of an unsecured card, it also allows you to earn
interest on a lump sum of money. The money that you use to secure the card
will most likely earn more interest than it would in a regular bank account,
meaning that after you have finished using the card you will have made some
money.

Drawbacks of a secured card

Of course, secured cards aren't for free, and they generally have higher
interest rates than unsecured cards. This is not a problem if you pay your
bill back in full each month. However, if you spend more than you can afford
you will be subject to high rates, and you may find yourself unable to pay
the amount back. This will hurt your credit history even further and make it
even harder to get a regular card in the future.

Beware of scams

As with any other product that targets those with poor credit, there are a
number of bad cards and scams around that you should avoid. Although many
secured cards are reasonably priced, some charge extremely high annual fees,
or make you sign up to an insurance policy that costs you as much as you can
afford to spend on your card each month. Before signing up to any secured
card, read all the fine print and shop around to find a deal that is fair
and you can afford.

About The Author: Peter Kenny is a writer for creditcards-gb Please visit us
at http://www.creditcards-gb.co.uk and
http://www.thriftyscot.co.uk/Credit-Cards/

Best Credit Card Balance Transfer Rate: It Pays to Shop Around

Best Credit Card Balance Transfer Rate: It Pays to Shop Around Smart
shopping for 0% APR credit cards can save consumers hundreds of dollars in
interest charges. Many consumers do not think to shop around for credit
cards. However, with 60 percent of grocery store purchases being made with
credit cards, the decision as to which card the consumer uses can have an
impact on how much is paid in interest. One way you can save money in
interest charges is to shop around for a 0% APR credit card to transfer
existing balances to. The concept of shopping for the best interest rates is
not new for purchases such as homes and cars, but so few consumers stop to
think about shopping around for the best credit card deal.

0% APR credit cards save consumers money

It is possible for you to save hundreds of dollars a year by transferring
balances to a 0% APR credit card. Here is how it works: A consumer applies
for a new credit card with a special introductory interest rate of 0% APR
for balance transfers. After gaining approval, the consumer transfers the
balance of his or her credit cards to the new card.
Some companies may waive the balance transfer fee, but a standard fee is
usually a small percentage of the transferred balance. Whether the old card
has a low 8.9% APR, or whether it has a higher 15.9% APR, the potential
savings are well worth the transfer. For the entire introductory period
(usually 6 to 12 months) it is possible for consumers to avoid paying
interest on their credit card debt.

Sorting through 0% APR credit card deals

Some web sites provide you with an objective way to look at credit card
offers. It is even possible to use a calculator to figure out how much you
can save by transferring balances to a 0% APR credit card. Consumers receive
the information they need to help them decide on the credit card balance
transfer offer that works best for them.
Objective side-by-side comparisons allow a more complete picture of
available credit cards. When you find a card that you like, it is also
possible to apply for that card instantly from the web site. Helpful links
to the credit card companies allow you to receive instant approval on their
credit cards.

A word of caution

A 0% APR credit card balance transfer is a financial tool that can greatly
benefit consumers. However, as with all financial tools, it is important to
use it wisely.
Consumers should be aware that failure to pay at least the minimum payment
on time can result in an immediate end to the introductory period. Many
credit cards, however, provide an automatic debit system or an online bill
pay option. This can help consumers set up automatic payments that ensure
that there are no late payments.

Shopping around for the best bargain is a way of life for many. Applying
that rule to credit card applications can mean that you get to keep more of
your hard earned cash.

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For Balance Transfer Credit Cards click the following link
http://www.credit-card-surplus.com/balancetransfer.php . Ed Vegliante runs
http://www.credit-card-surplus.com , a credit card directory enabling the
consumer to compare and apply for credit cards.

Mistakes To Avoid In A Credit Repair

If you have bad credit and are trying to work at fixing it, you know that it
can take a long time. It can be difficult and is often quite involved, and
it is easy to make mistakes while trying to fix things up. If you are
working to repair your credit there are three huge mistakes that you will
want to avoid if you want to be successful at repairing your credit.

Mistake#1 - Hiring a Scam Artist

There are so many scams out there that are preying on people who are trying
to repair their credit. Even though measure are being taken to try to stop
these scams from happening, there always seem to be more coming back. There
are a few things you can see to clue you in that it is a scam. If they as
for a lot of money up front, or want to create a new credit report for you,
you can be very sure that this is a scam. Often you can work at repairing
your credit by yourself, but if you do need help there are legitimate firms
that can help you fix your credit.

Mistake#2 - Not Getting a Written Copy

Many people find places that give them great offers by phone, but it is much
different later. It is important that any negations be done in writing. You
will want to see everything that a credit card company is asking you for,
and you do not want to rely on something that you heard. You want to have
everything in writing so you can refer to it and you can prove it as well.

Mistake#3 - Statute of Limitations

Every state has a statute of limitations that gives creditors only a certain
amount of time to sue you for a debt. Most states have a statute of
limitations of between three and six years long. If you make a payment on
one of your debts that is old, or if you even say that you do owe it to them
you can reopen the statute of limitations. This will once again allow the
creditor to seek legal action against you. If you are dealing with bad
credit debts, then you will want to know what the statute of limitations are
in your state.

About The Author: Tom Atkins is a staff writer at
http://www.debt-journal.com and is an occasional contributor to several
other websites, including http://www.finance-journal.com.