Nov 18

You can acquire a online credit card processing if you’ve got a great credit score. All you’ve got to do is complete an application, and then wait for approval. You can also call the lending company directly, or complete an online application. Many websites allow you to complete a secure application online. The entire process usually takes about two weeks when denied, and three or four weeks when approved. In several weeks the credit card will arrive with a welcome letter as well as the terms and conditions associated with the agreement. These terms typically include interest rates, fees, and liabilities. An activation number is often attached to the new credit card, and for security purposes banks usually require new costumers to activate their credit card.

Gainful permanent employment is often necessary to get a credit card, although some banks market directly to students who don’t have jobs. Banks use your income and employment history in determining your credit limit. They are primarily interested in your previous credit history, how long you’ve been at your job, as well as your current salary.

You’ll need to complete an application in order to get a credit card. Often it’s a good idea to get a department store credit card for your first time, as credit agancies like to see a track record. Keeping up with payments for six months will usually provide you with the history most banks look for. When you believe you’ve got a good track record with your department store credit, you can proceed and apply for a card from a major bank. The banks often give better terms, so credit will cost less in fees and interest.

Another possibility would be a gas card as they are just as practical, and have a low entry barrier. Many gas stations are sponsored by Visa or Mastercard. Generally, a consumer without any kind of credit or bad credit would have much difficulty attaining this type for starters. However, there have been cases where the vendor is much more relaxed and will provide a small credit limit to start.

If the consumer has maintained a positive payment history for six months, there is a good chance that a major credit card merchant such as Visa, MasterCard, or American Express will approve you. This will take a little work but very worthwhile for the consumer trying to build their credit. Be careful not to overextend the credit limit as this is an indicator that you might not have a good hold of their funds.

If the consumer has an established relationship with their bank, such as a checking or savings account, your bank might be a better place to start. If the choice were to bypass department or gas credit cards, this might increase the consumer’s chances of being approved. A majority of banks like to give special attention to their existing customers as this brings in repeated business. Students and recently bankrupt applicants often can be given a first or second chance to succeed in the credit world.

An almost sure-fire way to get a credit card would be to apply for a prepaid visa card. This type of secured card is backed up by funds you supply to the bank. These funds are deposited into a savings account earning interest and a secured prepaid credit card would be issued with a credit limit of up to the amount deposited. This service will be reported to the major credit Agencies, and the individual will have started gaining a good credit score.

Another option would be to have a person with a positive credit history be your co-signer. Get a credit card with a credit line that will be manageable for you, so you don’t over-extend yourself. This way you can almost be certain that your application will be approved.

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Posted in category: Credit Card Articles, Uncategorized  |    |   Popularity: 1% [?]
Nov 18

For college students, getting access to a credit card just got a little bit more difficult. The credit overhaul legislation that passed in 2009 and went into effect in early 2010 contains a provision that states that college students must have an adult co-sign their application with them. This means no more running up credit card bills without their parents knowing about it.

And of course, there are other options besides credit cards, such as prepaid debit cards. Here’s how they work: prepaid debit cards carry the symbol of major credit cards like Master Card, American Express, Discover and Visa. In fact, from the outside, they look like a regular credit card. But, they actually work in a very different way.

With prepaid debit cards, the card is purchased with a balance already on it. Instead of taking out a mini-loan every time you make a purchase and paying interest on it (as with a credit card), when you use a prepaid debit card you are basically just burning through the balance already on the card. Once it runs out, you cannot use it anymore until you refill it.

But, which is better? Should you get prepaid debit card or a credit card for a college student? Here are 5 insights:

1. Despite the new law, college students are still obtaining credit cards:

Of course, some college students have found ways around the new law that restricts their ability to get easy access to credit. For example, they can have graduate students or others co-sign their applications for them.

Meanwhile, many other college students are still able to convince their parents to co-sign their applications, rendering the law fairly meaningless in terms of their being able to qualify for a card. All of this means that students and their parents still need to face the question: are credit cards good for college students?

2. Credit cards still have their advantages:

A recent Sallie Mae study concluded that the average graduating college student carries $4,100 in high-interest credit debt. And, college students are also known to pay a disproportionate amount of money in fees due to late payments. This means these cards are all-bad, right? Not necessarily.

While many students just are not financially sophisticated enough yet to responsibly use credit cards on an ongoing basis, having a credit card nearby can be smart to be used in emergency situations. After all, with a debit card, once the balance runs out, that’s it. There is no safety net.

3. Prepaid cards may be a better solution for managing day-to-day finances:

However, for managing monthly expenses such as food, books, and clothing while in college, prepaid debit cards can be a more responsible way to go. After all, with these cards, a student can manage exactly how much they are willing to spend each month. They can do this by only loading up the card with the budgeted amount, and no more.

4. Prepaid cards can be refilled through direct deposit:

But, what happens when the prepaid gift card’s balance goes to zero? Simple: the card can be refilled via direct deposit. This means that you will also have real cash backing the balance on your card – unlike with the other type of card. And, with a prepaid gift card, there is no interest to pay, which can save college students thousands of dollars in interest payments versus when using a credit card.

5. The perfect solution is likely a hybrid:

The ideal solution? Maybe having both. One way to go is to apply for a credit card with the parent co-signing. The student and parent can agree to a certain amount that the student is allowed to spend with the card each month, but that amount must be paid down. Doing this can help the student build their credit history (which a prepaid card cannot help with). But, for managing monthly expenses responsibly, the student can use the prepaid debit card.

Consider these 5 insights for answering the question: which type of card is better for college students?

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Posted in category: Credit Card Articles, Student Credit Card, Uncategorized  |    |   Popularity: 1% [?]
Nov 18

If you are planning to invest in big-ticket items, it is strongly recommended that you do so before the Value Added Tax (VAT) rate increases from 17.5 per cent to 20 per cent on 04/01/11.

While the sound of an increase of 2.5 percent may not seem high, this VAT increase could potentially result in price increases of as much as 10 per cent after factoring in the multi-stage process of manufacturing.

With VAT rate increases affecting the purchase of raw materials and components needed to assemble products, those buying the finished product will notice a much higher out-of-pocket cost.

In order to avoid this, many financial experts are recommending that consumers begin applying for 0% purchase cards to make their larger purchases before the holiday season.

With interest free credit cards, you can buy your merchandise now, pay the cost of the goods off during the 0% offer (which will run after the VAT increase date) and therefore avoid the VAT rate increase on those purchases.

Credit cards with a 0% interest rate
introductory offers can be very beneficial during the holiday season. While you must spend wisely, these credit cards give you the funds you need now without charging you exorbitant interest rates.

Plus, if you successfully pay off the big-ticket items before the interest kicks in, you will only pay the purchase price of item as if you had paid cash initially.

With the VAT rate increase, purchases of £2,000 could cost up to £200 more in 2011. If you add in interest of 15 percent, you are essentially paying £2,530 for something that costs £2,000 if you pay at the time of purchase.

By applying for a 0% credit card now, you will avoid the £200 increase from the VAT rate increase and the £330 of interest assuming you pay all of your repayments on time and pay off your credit card balance before your 0% offer expires.

Make a wise choice when managing your money and find away around being hit hard in the wallet by for the VAT change.

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Posted in category: Credit Card Articles, Uncategorized  |    |   Popularity: 1% [?]
Nov 18

If your credit score is bad, there are some bad credit card debt relief selections. But that does not mean it’s not important to be aware of your options. It even makes it more essential.

Payday Loans
It is not a shock that weak people are simple to take advantage of. A typical example are Payday loans. They cost high interest rates that could make you surprise, sometimes 1000 percent more per year. They encourage you to apply then if you didn’t make it, it’s not even possible get back. Keep away from Payday loans if possible.

Consumer Credit Counseling
If your credit card debt is giving you stress all day, the CCC program can be assists you. It can help you reduce your interest rates and eliminate overdue fees with just a single payment. You could have a lesser payment each month but it may not be really lower as compared with your existing credit card minimum payment. Most of the CCC programs will require a minimum payment each month of 2.5-3.5% of your credit card accounts. You may be able to witness an overall reduction every month demanded payment, but the reduced interest rates will let you to settle your debt faster compared if are repaying credit card agencies straight.

Debt Settlement
Debt Settlement provides you an opportunity to achieve a settlement with you collectors, paying back lesser than what you presently owe.The payment required each month in a Debt Settlement system is partial of what CCC programs would demand. The programs also run shorter than the regular CCC plan, most of the time in less than three years. Debt Negotiation will affect your credit score in the short term. But since it will free you from debt much faster, you can begin to reestablish your credit rating soon.

This can be the best option for you, but it should be an choice of last resort. It will affect your credit rating negatively and it is not a good procedure to undergo. The long term effect of the higher rates you will be given after bankruptcy may prevail over the savings you may experience in the short termFree Web Content, when debts are eliminated.

Boot Camp Conclusion
Not even one solution suits anyone’s needs on certain situation. Focus on the choices in front of you. Be aware that some people will tell you what they thought you would like to hear to split yourself from your money.

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Posted in category: Credit Score, Uncategorized  |    |   Popularity: 1% [?]
Nov 18

It is not that easy to get approved for no credit car loans but it is not impossible either. But for that you need to follow certain guidelines which could considerably enhance your chances of getting an approval for auto loans for no credit.

To get an approval for no credit car loans with a zero credit history could be a difficult task but not impossible. And thinking about better rates of interest could be further trying since the applicant has no credit score to back out. Nevertheless, if you are considering applying for a car loan for no credit, you need to follow certain guidelines to enhance your chances of getting approved. Here is some crucial information pertaining to the same which could guide you in your endeavor.

Remember, when you are applying for auto financing for no credit history, traditional financial institutions like banks or credit unions might not prefer to deal with you. Therefore, you need to first look for other lenders or dealers who specialize in providing these types of car finances. This is because with a no credit rating, you are deemed to be a risky borrower by most of the lenders. But there could be a few lenders that are willing to take the risk of granting you auto finance loans at considerably higher interest rates.

There could be ways to obtain competitive rates of interest on your auto loans for no credit. And for that you need to have exceptional negotiation skills to tackle the situation. One way to obtain reasonable car loan rates could be to consider paying a large down payment and show you have enough monthly income to pay your monthly installments regularly. Furthermore, the vehicle itself could serve as collateral against the loan amount granted. Above all this, some lenders might even require you to pledge additional security and could also demand having a cosigner with a good credit reputation.

Car values depreciate with passing time pretty quickly and therefore, any extra collateral is aimed at negating the lending risks involved as well as to cover up for overall value of the loan finance and the interests too. Even if you do not have any valuable asset which can be pledged, you could still get same day car finance for no credit provided you have a steady employment and regular monthly income. You can also provide details of any investments made previously. Lenders would then verify the accuracy and correctness of the information provided by you before approving your auto loan application.

Thus, if you are out to apply for a used or new auto loan, you need to be thoroughly well prepared with the required paperwork which needs to be furnished along with your car loan request. You could get more useful information on no credit auto financing requirements by using expert services available online. Today you could find many automotive finance service companies on the internet that guide borrowers in exploring various car loan options. However, you could make your task much easier by utilizing the services of firms which are reliable as well as reputable.

Consult the over 50 life insurance options here

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