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Credit Card Tips for the Year
? don?t apply for a credit card if you don?t need one. don?t be encouraged into applying for a credit card just because it has a good interest rate and you think you can buy things and pay later. only apply if you need to manage your finances properly.
? take advantage of the 0% deals that are on offer. there is no need to pay interest nowadays as most credit card companies offer these types of deals for at least 6 months. if used wisely you can save a fortune in interest charges. with some credit card suppliers offering up to 9 months interest free you will be able to transfer balances and not have to pay any interest for close on a year.
? check the fine print as most people don?t realise that there are hidden charges when taking up the deal. some credit card companies will charge a fee for the privilege. they can charge a % or a capped amount for admin charges. this amounts to a tidy some when you consider the millions that will take up these offers.
? consider life of balance transfer deals. if you don?t want to continually chase the best 0% deal when yours comes to the end, then why not opt for a credit card that will offer a low balance rate until it is paid off. this can be as low as 4%. american express platinum card currently offers the lowest life of balance transfer card at 4.9%. sainsbury also currently offer 5.9% on the life of balances transferred during the first six months of ownership, and don?t charge a fee.
? credit card insurance. don?t bother! this has to be a biggest scam out there. what you get doesn?t warrant the extra amount you have to pay every month. the rules to claim if you do need to are so strict that the chances of you getting paid out are very low. if you are told this is a requirement then know that they are forcing you as this is not.
? credit card cheques should be discarded the minute you get them in the post. they are dangerous and will cost you more in the long run. this is really cash in advance on your credit card and comes with a very high rate of interest that will kick in the minute you use one the of the cheques.
grant marwick is a freelance writer and owner of http://www.freeroller.net/messageboard/mbs.cgi/mb116885 where you will find advice and more articles on low interest and 0% credit cards.
article source: http://ezinearticles.com/?expert=grant_marwick
Home Buying with Bad Credit - The Possible Dream
as if having bad credit isnt painful enough, many americans still suffer the shame, and often mistreatment by the mainstream mortgage lending community. more often than not, these borrowers fall into the category of bad things sometimes happen to good people.
banks, and a credit mortgage companies are structured differently in their lending criteria, and often have no alternatives available for their credit challenged customers.
that is where the wonderful world of b/c lending prevails! within the last few years, a new genre of mortgage lender has emerged and done so with great impact. commonly referred to as b/c mortgage lenders, they are occasionally are referred to in what may be a less than politically correct term of sub-prime mortgage lenders. either way, they specialize in mortgage loans for borrowers with bad credit, or just slight bruised credit.
a rose by any other name is still a rose is a famous line. quite appropriate for this subject i think. whatever moniker they are referred by, thank goodness they are here! now, the stigma of having suffered a financial setback, or the odd twist of fate, is just a few clicks and a form or two away.
prospective home buyers with a dent or two in their credit are encouraged to seek the services of an expert b/c mortgage broker or lender. your new home, the entirely possible dream, is within your grasp.
about the author:ronald farrell black is president of independence mortgage capital, and an expert in working with home-buyers and home owners with bad credit and other special issues. his mission is to help folks through the trauma brought on by financial setbacks, bad credit, bankruptcy, etc., and to provide resources for home mortgage financing, debt management and debt relief. helping others to overcome financial problems and to restore and rebuild their credit. for more information on bad credit mortgage loans, and ?life after debt? visit his website: http://www.freeroller.net/mbs.cgi/mb205202
article source: http://ezinearticles.com/?expert=ronald_f_black
High School Students and Credit Cards - A Recipe for Disaster?
ahhh, school days. reading, writing, and rooting for your school football team. hanging out at the mall and surfing the web. ok, so things have changed a little since you were in school. the current generation of teenagers now has more purchasing power than ever, and companies are spending millions of dollars to get your teen to pay attention to their products.
if you?re like most american families, your teenager has some sort of income, be it an allowance or a job. the problem: how do you teach your child about money, before they ?invest? it all into the current fad? believe it or not, the solution may be a credit card.
once upon a time, giving a teenager a credit card was laughable, if not impossible. however, now there are several cards available just for teens. options such as parental control and digital allowances serve to let parents participate in their teen?s initial journey through the world of credit. although the thought of your teenager with a credit card in their back pocket might cause you to break into a cold sweat, there are some good reasons why this could be a great educational experience for your child, as well as yourself.
money management 101 the sooner your teen learns about the reality of credit, the better. teach your teen basic lessons about how credit works, including how interest rates can quickly double or even triple the original price of an item. rather than giving your teen free reign to purchase anything he or she wants, help your teen establish a budget and a sense of financial responsibility. another good source is citibanks credit-ed program, where teens can see how good they are at credit management, budgeting and more.
foundations for good credit by providing your teen with early money management skills, you set them up for an easy transition into the world of adult credit. a recent survey of adults sponsored by the incharge institute of america highlights the need for education. about half of the respondents claim that they were never taught about credit by their parents. when teens leave home for college or work, they will be bombarded with credit card offers. incoming freshmen are expected to amass an average $1,500 in credit card debt according to nellie mae, the largest non-profit provider of education loan funds in the u.s. (more info here). a sound knowledge of credit will make your teen aware of the potential pitfalls of ?too good to resist? credit offers. an early start can also help your teen to establish good credit, giving him or her countless advantages when they?re on their own looking to purchase a car or a house.
security another advantage is the feeling of security you have in knowing that your teen has a back up in emergency situations. using plastic is also safer than using cash. furthermore, in the event that your teens card is lost or stolen, youll pay nothing for unauthorized purchases.
options there are many card options available to teens. during the summer of 2001, visa introduced a new product geared toward teens that is called the visa buxx card. the buxx card has sparked a great deal of discussion and debate about the merits of allowing teens access to electronic forms of payment. the card is basically a prepaid debit card, according to michelle singletary, a personal finance writer with the washington post. visa has embarked on a marketing campaign to promote the buxx card and bills the card as a parent-controlled reloadable payment card. the card is already being issued by many large banks and may come with an annual fee and transaction fees. fees vary from bank to bank.
another option for parents that have a higher risk tolerance level is to co-sign for a low-limit unsecured credit card (aka a real credit card). if you are brave enough to choose this option, make sure you limit your risk by asking for a very low limit on the card, such as a $200 to $300 limit. please bear in mind that this option will affect your credit rating.
should you decide that it?s time to teach your child the golden rules about credit, you will want to investigate the types of cards available. this will help you match your teen with a card that meets his - and your- needs. with thorough research and responsible teaching, you can make your teen?s entrance into the financial world smooth, fun, and successful. go team!
rebecca lindsey is a senior staff writer for http://www.freeroller.net/mbs.cgi/mb998961. she began writing articles about consumer credit issues for cardratings.com in september 2000. her articles have been republished and/or referenced by leading publications throughout the country, including live well on less than you think: the new york times guide to achieving your financial freedom by fred brock.
article source: http://ezinearticles.com/?expert=rebecca_lindsey
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