Sick Of Paying Bank And Credit Card Fees - How To Avoid

Sick Of Paying Bank And Credit Card Fees? Here's How To Avoid 3 Of The Most Common - By Steve

Banks, credit card companies, and other businesses love to charge you fees for violating their rules. Whether it's late fees, ATM fees, check stop-payment fees, overdraft fees, bounced-check fees, or any other fee, businesses are determined to get every dime out of you they possibly can. But there are ways you can avoid paying these fees. You just have to be shrewd. Here's how to avoid paying three of the most common fees.

1) ATM Surcharges -- Any time you use an ATM that doesn't belong to your bank, you're going to pay for it. Sometimes the charge is only a dollar. But it can be as high as $4 or more, depending on the bank. And sometimes your own bank will charge you for using another bank's ATM. That makes for a really expensive withdrawal.

How to Avoid -- The best way to avoid these fees is to plan ahead and withdraw money from an ATM your bank owns. But you do have another option. Many grocery stores, drugstores, and discount stores (such as Wal-Mart) will allow you to get cash back from the register when you use a debit card to check out. The bank you use typically won't charge you for these transactions.

(2) Credit Card Overdraft Protection -- Many banks offer a credit card to protect you from overdrawing your checking account. But the protection comes with a price. While the fees are usually cheaper than overdraft charges, they're still expensive. Most of the cards will charge a fee each time the protection is used (up to $20 per transaction). And they count the transaction as a cash advance, which almost always carries a higher interest rate. To make matters worse, the transaction begins to draw interest the day it's made. There is no grace period.

How to Avoid -- The most obvious way to avoid this is to keep enough cash in your checking account to make sure you never overdraw the account. If that's too difficult, put some money in a savings account and set it up as your overdraft protection. Just make sure you put the money back as soon as you can. Otherwise, you'll deplete your savings.

A Word of Caution -- Many banks will charge you a hefty fee for overdrawing your account. And they'll charge the fee each time you do it. So if you use a check card or debit card to purchase small items, such as coffee or meals, each purchase that overdraws your account will rack up another $30+ charge to your account. Before you know it, you're charged $150 without even trying.

(3) Credit Card Late Payment Fee -- When you use a credit card, you have to make a payment by the due date. If you don't, the credit card company charges a huge fee (up to $39), and it damages your credit report. Even worse, credit card companies do everything they can to make you late for your payment. For instance, they have the due date on Sunday. But the company is closed on Saturday and Sunday. So the payment is actually due on Friday. If you plan to have your payment arrive on time, the mail won't arrive until Monday -- and you get slapped with a late fee. They also change their mailing address with no warning. If you make payment using auto-bill pay, you'll mail the check to the wrong address. And the company won't give you credit for the mistake.

How to Avoid -- If your bank offers a bill-pay feature, see if it also accepts electronic bills directly from your credit card company. If so, you can sign up for electronic billing and then set up your payments to be paid either immediately upon receipt of the bill or by the payment due date. Either option will allow you to avoid late charges. If electronic bill-pay is not an option for you, you'll need to make your payments early or get rid of your credit cards and use cash only. Actually, there's one other choice, but not many cards offer it. Some credit cards will let you sign up for the company to withdraw the full amount due on the due date from your checking account. I don't like the idea of giving them access to your checking account, but it's usually better than paying late-payment fees.

Article Source: http://www.article-outlet.com/

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Credit Card Reward Points - A Consumer Guide

Credit Card Reward Points - A Consumer Guide To Choose Smartly Among Many Reward Options- By Jaydeep
ICICI Bank has perhaps the largest credit card base in India and also has one of the most elaborate reward programs among the banks. They are the ones who started the express reward program which gives accelerated accumulation of reward points depending on the total purchase on a card and it gives incentive to customers to spend on ICICI card as they can accumulate points at up to five fold speed than the normal pace of 1 point for every Rs 100 spent. The express reward program of ICICI Bank became popular in no time as customers were accumulating more points than other cards and their express reward program were soon emulated by other banks like HDFC.

The first thing that a consumer should understand that it is not only the number of reward points that matter but also the kind of gifts that are available for redemption and the number of reward points required to redeem them. I have been using credit cards for the last 10 years for personal and business expenses and always do my analysis before redeeming the points which I accumulate on a regular basis. I have cards from almost all leading issuers like ICICI Bank, HDFC Bank, Citibank, Standard Chartered and HSBC Bank and if you ask my pick I would say HSBC among silver card and HDFC among gold.

ICICI Bank which is the most aggressive player in the credit card space but it has also the most hyped reward program. Initially it had very good reward options like Taj and Welcome group hotel vouchers for its gold members but those has been withdrawn long back. Actually their express reward program has lost its attraction as you need more ICICI reward points to redeem a gift (say a Pantaloons voucher worth Rs 500) compared to other cards like HSBC or HDFC.

Usually the banks have more or less the same gifts for its reward program but now individual banks are working to differentiate in their offerings. Still the common items across all reward programs are the departmental store vouchers, vouchers for apparel and fashion accessory brands, fast food restaurant vouchers and some consumer durable products like mixer/grinder, toaster, OTG and microwave. But a consumer having more than one credit card will do well if he first compares and then select the right reward points for claiming a particular voucher as I have found that you need almost double reward points in ICICI card than that of HSBC to claim some particular gifts.

If you have a gold card then probably you have a wider choice as most banks have some special reward options for gold card members which are generally leisure products like hotel vouchers, perfumes and collectibles. The HDFC gold card program allows you to choose between some good perfume and EDT but I would not suggest the collectibles like Victorinox Swiss Army Knife or Magpie bar set as I don't think those deals are attractive. For ICICI gold members the deals are not so good anymore as now they have more deals which require you to pay additional money and not just reward points.

ICICI Bank has something called spotlight rewards where they try to push junk and cheap Chinese made electronics products like digital camera, USB pen drive and so on and that too sometimes on cash and reward points. The spotlight rewards are highly avoidable and basically they provide the least value in any reward category by any bank. I personally ordered once for a foldable tea table by redeeming for more than 1000 points under the spotlight reward category and the stuff I got was actually defective and would hardly cost Rs 100.

It is not only ICICI that ships defective materials but other banks too and so the choice of the gift is very important if a customer wants to make the most out of its reward points. I ordered once OTG from my HDFC Gold card and the OTG was found defective. After lots of complaints and persuasion that defective OTG was replaced with another defective one and since that day I decided to never go for any consumer durables.

I think a smart consumer should avoid consumer durables and any electronic items as these credit card companies seems to source factory seconds to cut cost which is actually shameful. The best things you can get are the vouchers but don't forget to make the comparison if you have multiple credit cards. Some other things you can try are perfumes, magazine subscriptions and collectibles but make sure that they are not asking for too many reward points.

If you are holding a co-branded card like Citibank Jet Airways or Amex Indian then converting the reward points to Air miles are a good option. HSBC silver cards also offer Jet Airways and Kingfisher air miles and that's why I think it has one of the best reward programs as on today.

The final advice is don't get yourself in a debt trap by getting lured by the gifts and express reward programs. A smart consumer pays all bills and expenses thru credit cards but also pays the credit card bill in full. This is the best way to accumulate your reward points and redeem them for cool gifts at a later point with incurring interest or additional cost.

Article Source: http://www.article-outlet.com/

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Using Your Card: What Is Its Purpose?

There is a wonderful feeling to having a credit card when you need one, but that blanket term "credit card" can be misleading at times. Not all credit cards are the same, and this goes beyond the APR that most people are aware of. Before choosing a credit card, consider what it is that you plan to use it for. This can make a big difference in how you use it and what you will pay in charges and fees for using it.

There are some consumers who will pay off their bill each and every month, and rarely, if ever, carry the balance over into the next billing cycle. If you intend to follow this routine, then APR will not matter as much to you. Keep in mind that finance charges do not kick in unless you carry over a balance. If you pay in full, you do not incur finances charges which are based on the company APR.


For those who will be paying the full balance each month, consider a credit card that has a longer grace period and has no annual fees. This allows you to use the credit for little, if any, charge. Do keep in mind, however, that if you happen to lapse and carry a balance, you will have to pay the finance charges and then APR will matter to you.

Most people, however, do carry over a balance and for those individuals it is important to find the credit card that offers the lowest annual percentage rate (APR). The APR is the number that the credit card company will use to calculate your monthly finance charge so the lower this number the less money you will pay.

If you think that you may use your credit card to get cash advances, you will certainly want to look at the fees and charges for that service.

It is important to remember that many, if not most, of the credit card companies charge a higher rate for cash advances than they do for purchases. Some companies will charge a substantial amount more and you would do well to avoid using these cards for cash advance purposes.

Many people are lured into poor credit card choices by the promotions that many companies offer. These might include such things as frequent flyer miles, phone minutes, rebates and other things. There is nothing wrong with opting into these programs if they are benefits that you are going to actually use. The old adage that nothing is free applies here as well. Many of the companies that offer these promotions will have a slightly higher APR to help offset the cost of the programs. Make sure you look for that before you sign up, as it may not be in your best interest to pay higher rates for benefits that you will not use.

In order to find out what the APR and other fees are for any particular company, you can visit their website or you can look at the information that comes to you through the mail. Federal law requires that all solicitations and applications for credit cards include key information on the rates and fees that they charge consumers. This information must be clearly printed and if you have to hunt for it, then you may want to avoid dealing with that company.

Peter Kenny is a writer for The Thrifty Scot, please visit us at Credit Report and Credit Cards
Visit http://www.thriftyscot.co.uk

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How To Buy The Good Wallet?

When most people think of wallet buying tips, what comes to mind is usually basic information that's not particularly interesting or beneficial. But there's a lot more to learn in the real world The information about wallet buying tips presented here will do one of two things: either it will reinforce what you know already know about this topic or it will teach you something new.

Search for a good wallet is not an easy or difficult job as we all know that it is really depends on so many factors such as life style, objectives and personal preference. However, the most important thing that people would want to is getting a wallet that will be practical as well as functional when they have to choose new wallet. Moreover, according to my own experience, I would like to say that many people still do not use wallet that they bought in full potential of the wallet, or in other words, they may not consider much enough before they buy, then chosen the wrong type as a result.

For example, people who have no credit cards but they have chosen the wallet that have a lot of credit card slot, they bought the wallet just because they like the colour and design. Meanwhile many other bought wallet that have no slot for coins or small gadgets but they are always carry this kind of thing. This is considered as waste of money. Therefore, it is compulsory for you to know about what function that you will use wallet so you can define what type of wallet that you want exactly. The following detail gives you more about things you have to consider when you have to buy new wallet. Be sure that you read over all of the tips below, and you can even pass them on to your friends for when they go to buy a new wallet.

The first thing that you have to think about is the size of the wallet. It is one of the most important that you have to consider. This is because the size of the wallet really matter to the usage of the wallet itself and it is really relate to comfort when you carrying the wallet. Choosing too big or too small wallet may cause difficulty of usage. The best way to avoid this problem is you have to think about what you have to carry during the day and what you want to put in the wallet. The basic gadgets like credit cards, bank notes, coins earrings are common and you can consider small to medium size to contain these gadgets. However, if you want to put more stuff like check book you may have to consider the bigger wallet.

The design is also important. Yes, I can say that it is also important but not the most important. However, you have to consider the design because it relates to the price and how much comfort you will get when carrying the wallet. For example, long and double fold wallet may be expensive and not comfortable as small wallet. The number of pockets or slot also the thing to consider as The more pockets the better, so make sure that you unzip or unsnap the wallet and check out the inside, and see how many credit card slots there are.

PisanK is the writer of http://www.allsilkwallet.com site, if you see this article helpful,please visit our site to get more information.

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Credit Card Debt Consolidation Service

Credit Card Debt Consolidation Service - Use It To Regain Financial Freedom
What is ‘Credit card debt consolidation service’?

‘Credit card debt consolidation service’ is a very common sentence that you must have heard of very often and merely on the internet, there're thousands of sites offering professional help on credit card debt consolidation services as well.

Every now and then your favorite magazines, newsprints, TV channels will also be discussing or advising topics related to credit card debt consolidation and the professional services they offer.

So what is this “Credit card debt consolidation” about and what kind of professional services do they offer? why is it such a popular topic?

As the name implies - “Credit card debt consolidation” refers to consolidation of the numerous debt on various credit cards into one single credit card (most of the case)
and there are services which offer professionals' help who would take care of everything for you.

Basically, the main idea is that you switch from a higher APR credit card to one with a much lower APR.

You might be wondering ‘why?’

After you understand the overview of how the entire cycle of credit card debt can be a "nightmare", you will instantly realize the general logic behind it.

Credit card debt increased in two common ways. One is largely due to further incurring of new debt on account of new spending on your credit card and the second being due to interest charges to the existing credit card’s outstanding debt which are not paid on a stipulated date.

The first occurs because of your use of credit card but the second one is largely due to overdue interest charges which are calculated based on the interest rate or the APR of your credit card which you first applied.

A lower APR rate implies that your credit card debt will increase at a slower degree and hence changing over to a credit card with much lower APR makes logical sense.

Another commonly known name of “credit card debt consolidation Service" is also called a balance transfer service because you would be transferring the balance debt from one credit card to the other one meant for this purpose.

Packages or offers are made even more tempting by the credit card suppliers by offering various benefits with them when promoting their credit card debt consolidation service. (or balance transfer service)

This industry is very competitive so an obvious logic behind offering these perks is the fact that a keen prospect would be made even more keen to choose their service over competitors' less tempting packages upon comparisons.

One of the most tempting and common benefit offered by these Credit card consolidating services is 0% interest on balance transfers (or also called credit card debt consolidation).

This 0% APR (interest rate) is basically good enough for a period of time (i.e. 3-6 months), after which the standard APR is will resume.

It's common to find other competing credit card debt consolidation services offering things such as a "zero" interest purchase for a designated period, points rewarding
program, gift vouchers...etc.

Engaging help from Credit card debt consolidation services definitely is a good way of overcoming the problem of credit card debt and that is one good factor why there is so much of discussion and news pertaining to this area as such.

Learn more FREE Tips on "Credit card debt consolidation service"in order to
help save you more precious time and money here:
http://www.top-site-review.com/creditcarddebtmanagement

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Credit Card Wallet Selection Tips

When you're learning about something new, it's easy to feel overwhelmed by the huge amount of relevant information that is available on the internet and other resources. This informative article should help you focus on the central points. If some of the facts and tips about how to find perfect credit card wallet are out-of-date. You could imagine that how it will that affect your actions and decisions. Make sure that you don't let important card wallet information slip by you. Of course, it's impossible to put everything about how to find credit card wallet into just one article. But you can't deny that you've just added to your understanding about card wallet, and that's time well spent.

Some people may be confused of what is credit card wallet. I would like to explain a bit more. Credit card wallet is a separate wallet that you can use to put your credit card in. You may carry credit card wallet together with your purse. The main objective of using credit card wallet is to help you manage you credit card easily, because they are kept separately. Particularly if you are the person who uses more than one credit card, so you need extra wallet to keep them.

Having separate credit card wallet has pros and cons. That is when you have credit card wallet, it means that you can carry them every where, especially when you shopping. However once you get there you see lots of goodies at "special prices" and since you have your credit card with you, you start spending. This is the problem that many of credit card owner have as they can not control themselves when they have credit cards on hands. Therefore, this could come to your consideration first of all to decide whether you should have separate credit card wallet. This is a very important step as it concerns to your financial status and spending.

However, if you decided to have a credit card wallet, consider to read the following paragraph below about how to choose good quality and suitable credit card wallet. There are many factors that you should consider when buying credit card wallet. As credit card is very important property and they should be protect in very good quality wallet. Firstly, you have to look for a wallet that could contain all of your credit cards. I believe that many people have at least two or three credit cards. You have to consider the wallet that has number of slot enough to contain all of your credit cards. You may also choose the wallet that had spare slots to contain additional credit cards that you have in the future. The other important factor is the quality of the material and characteristic of the wallet. Most people prefer to buy two fold wallet and leather wallet. I can confirm that they are the best type that you can choose as a credit card wallet. However, in case if you have very limited budget, you may choose wallet that made from other material such as canvas. In summary, the first think that you have to consider id whether you want credit card wallet, the pros is you can manage you credit card easily and the cons is you may have to be careful when you spend because you can carry them every where.

PisanK is the writer of http://www.cardwalletonline.com site, if you see this information useful, visit us to get more information.

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Apply For A Credit Card

Apply For A Credit Card Without Loosing Your Shirt, Small Business
So, you think you want to apply for a credit card? That is a nice move if you know how to manage the credit card after you get it. Or shall I say, if you get it. Unfortunately, for someone to apply for a credit card is easier to do than getting a credit card.

There are credit card companies that will provide you a credit card with an undesirable interest rate. It doesnt seem like a big deal when you want to apply for a credit card but it becomes the most embarrassing thing when the bill comes due and you arent in a financial position to pay it.

There are several things one should consider before he or she elects to apply for a credit card. Among the most pressing is the interest rate. While the interest rates vary on most credit cards, interest rates of 14.47% or higher are common money traps for those individuals who are less money savvy.

Lets face it. That is just too darn high of an interest rate. These types of interest rates are usually aimed at one or two different types of consumers. Either they are aimed at the college student that wants his or her first credit card or they are aimed at the person that does not handle money well so their credit is less than perfect. (By a long shot)

Credit card companies hope that these people will spend, spend, spend and lets face it. That is exactly what these two groups of individuals are likely to do, once they receive a credit card.

News Flash! This just in! You are responsible for your own debt. So, you might as well give yourself a break. Some companies will provide you the credit you desire but the question do you really want it.

What good is setting yourself up for failure by getting high interest credit cards? Your enjoyment is very brief, while the pain of being saddled with debt can last years, even decades.

Here is the way beat your credit card debt and still enjoy the luxuries a credit card can provide.

1. First, If you have a credit card and you find yourself heavy in debt, cut it up. It is better to be without a credit card than to doom yourself financially with one. See, to many, a credit card is like gold. However, gold is only valuable depending on where you are at the time. If you were holding 50 pounds of gold in your back yard, you would be happy but if you had the same 50 pounds of gold in your hand while swimming in the ocean, you wouldn't consider that a blessing. It is not valuable if it is pulling you under. Get rid of it!

2. Get yourself a debit card with the Visa or Master card insignia, rather than apply for a credit card. The debit card is commonly passed out at banks all over the world. The benefit of the debit card is that it is tied to you personal bank account and allows you to spend only that that you have. Theres none of that credit stuff.

3. To increase what you would normally call your credit limit. Download and use the Apply For A Credit Card Toolbar at ApplyForACreditCardToolbar dot com. This toolbar interfaces with TypoBounty dot com and allows you to earn money that you can send directly to your personal bank account by locating and reporting typographical errors such as misspelled words, punctuation etc. You report them online. The average pay out for a single error found is 2 dollars. Fill your bank account up and you never have to apply for a credit card.

Do this and you get the benefit of a credit card with the lowest rate possible.

The author, John Reed, has 15 years business experience and has had the opportunity to use and review multiple online credit card issuers. You can read more avoiding the money trap of credit cards at www.applyforacreditcardtoolbar.com

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What Is Your Magic Number?

Your Credit Score: What's The Good Number?

The following article covers a topic that has recently moved to center stage--at least it seems that way. If you've been thinking you need to know more about it, here's your opportunity.

Have you ever wondered why people get denied for loans and why other people get approved for it instantly? Have you ever wondered why some people are not accepted by some companies even though they are qualified for the job?

If you answered yes to either of these questions, then you haven't heard about credit scores. Credit scores are an important part of today's life. This particular three-digit number will determine whether you are likely to pay the loan you will apply for or will pay the monthly bills.

If you have a low credit score, then getting a phone line hooked up in your house can be very difficult to do. Some phone companies take a look at your credit score in order to determine if you will likely pay their monthly bills or not. Sometimes, certain jobs will require you to have a high credit score. It is a fact that people who are qualified for a certain job in a company are usually denied of the job because they have a low credit score. This is why you should consider taking all the necessary steps to have a high credit score or at least have a good credit score.

In the United States, Fair Isaac Corporation or FICO is the best known credit score model that calculates your credit score. This company calculates your credit score by using mathematical formulas. It is a calculation that is widely used by lenders, such as credit card companies and banks.

The FICO score is designed to provide information to lending companies if a particular person will likely pay their bills or not.

The best time to learn about "credit score" is before you're in the thick of things. Wise readers will keep reading to earn some valuable "credit score" experience while it's still free.

It will also contain reports of your past loan application and if you will be delinquent in the next 2 years or the next 24 months.

There are also three credit reporting agencies existing in the United States today and uses their own methods and formula to calculate your credit score. Each calculation differs, even if it was developed by FICO, and are updated periodically that will reflect your repayment behavior. Also, lenders or creditors use whichever calculation they want to use.

The FICO score ranges from 300 to 850. By having a high or good credit score, you will be able to access low interest credit cards and also low interest loans. You will also have a higher chance of getting hired by companies that require a good credit score.

You now ask what makes a good credit score number in the FICO score.

It is a fact that having a higher credit score is good. But you also have to know what makes a good number that will guarantee you of getting approved for a credit card or a loan. In the FICO score, a good number is at around 725.660. By having this kind of score, you will have a higher chance of getting approved for that car loan, mortgage or for that credit card you have been applying for.

You can get your credit score from FICO or from the credit reporting agencies annually for free. Or, you can also get your credit score as often as you want within the year for a fee.

Always remember that by having a good credit score number, you will be able to have access to low interest loans, and credit cards. By having at least a 725.660 credit score, you will be deemed credit worthy. Make sure you have a higher credit score in order to save thousands of dollars in terms of interest rates.

That's the latest from the "credit score" authorities. Once you're familiar with these ideas, you'll be ready to move to the next level.


by Floyd Dorrance - Article Portal

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The Truth About Cash Reward Cards

Can the average customer really earn cash rewards just for making purchases?
In the past, what you could purchase with a credit card and the convenience of its use were the only benefits to having the card. Now, credit card providers offer money-back options on many of their credit cards making the use of their cards more appealing.

In the past, consumers shopped for credit cards that offered the lowest interest rate. Today, consumers can shop for cards based on what type of “reward” they can earn for using a specific issuer’s card.

The world of personal finances is going plastic with more and more cards released in the financial market: secured credit cards, unsecured credit cards, debit cards, cash reward cards, the list goes on. If you prefer to get cash back on the purchases you make and don't play to carry a revolving balance on your card, then cash reward cards will make sense for you.

It is clear that the companies want to reward their customers and ensure that they get their credit card business while still maintain generous profits for themselves. Most of these card companies maintain their reward programs based upon a point system; where on average one point is earned for each dollar spent and these points are then converted into rewards such as frequent flyer miles, gift certificates to cash options. Very few companies actually offer the cash back option. This is however not a problem for many opportunity seekers, who know how to work the systems and keep track of what company established what reward program and when to insure that they are receiving the most rewards possible for the credit-spending, including cash rewards.

Through specialized websites, message boards, and personal or business blogs, the determined credit shopper can find all the information pertaining to cash reward cards. Many sites even offer a wide selection of credit opportunities as well as the tips and tricks of the trade to actually earn cash back from credit card payments.

All that glitters is not gold that a customer is getting back though. On Cash Reward cards the Annual Percentage Rate is much higher than for other cards that are reward-free. Sometimes the Cash Reward card carrier will lure a consumer in with the promised 0% APR but unless the customer understands the requirements for interest-incurring balances, his cash reward may be far less than what is paid in interest accrued.

One problem that comes up is that people don't always know where to find information on cash reward cards . This is understandable and we hope you've found what you are looking for by browsing our site. We update it regularly so please bookmark us. See below for more information on Cash Reward Cards.

For more information on Cash Reward Cards or visit http://www.cashcardsinfo.com/Articles/The_Scope_of_Cash_Reward_Cards.php, a popular website that offers information on Cash Cards, Debit Cards, Cash Advance Credit Cards.

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Find The Best Debt Consolidation Loan

When you have two or more debt payments monthly that you would like to combine into a single one, when you wish to pay off an existing debt faster, or when you want to reduce your monthly debt payment, debt consolidation loans are the right choice for you. Basically, debt consolidation refers to paying off several loans by taking out another one. When individuals are interested in securing a lower interest rate, servicing one loan only, or securing a fixed interest rate, they resort to debt consolidation loans.

Debt consolidation loans can refer to an unsecured loan formed from several unsecured loans, or to a secured loan, with an asset serving as collateral. In most cases, the asset serving as collateral is a house, and secured loans have a notable advantage, that of the interest rate being considerably lower than with unsecured loans.

In theory, debt consolidation loans are to be taken out by individuals who are paying a credit card debt, because the interest rates of credit card debts are much larger than those of even unsecured loans form a bank or another financial institution. Many people who spend more than their income, and are therefore in credit card debt choose to take out a debt consolidation loan to solve their problems.

Although many people with bad credit history will not be granted another loan, there are lenders who offer debt consolidation loans to this category of borrowers as well, provided they agree to pay a higher interest rate and respect some extra restrictions on how to spend that money.

As mentioned before, debt secured loans can secured or unsecured. An unsecured loan comes with certain risks for the bank or any other financial institution representing the lender, because the loan is not secured against any asset. In the case of secured loans, individuals will be required to use their property as security, giving the lender the ability of balancing the risk that lending money to you poses.

The amount of money that can be borrowed with secured loans varies to the individual’s specific circumstances and to the lender’s policies. The amount that you can borrow, as well as the Annual Percentage Rate and the term available will typically be influenced by more than just your circumstances. The lender’s ability to repay the loan, as well as the value of his/her property are very important in determining the amount of the loan that the lender is willing to give you.

Secured loans allow a larger amount of money to be borrowed, as well as a longer period of time for repaying it. Given the fact that the lender has the benefit of security given by your asset, there are very few limitations to the purposes that you can use the money from secured loans for. Those who find it difficult to get a personal loan, or any other type of loan on account of the fact that they have just changed jobs, they have had problems in their credit history or they are self-employed, should trying to apply for secured loans.

Finding a good debt consolidation loan or a secured loan may be easy, because there are many financial institutions willing to lend you money on their terms. What you need to do is to find as much information as you can in order to make a good choice, or let specialists recommend you something. But above all, you have to make sure that you pay regularly and in full to avoid running the risk of losing your home, if that is the asset you have secured against the loan.



For more resources about secured loans or even about Debt consolidation loans please review this webpage http://www.phillipsfinancialservices.co.uk

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What Are Credit Cards?

A credit card is a financial agreement between the card holder and the bank or credit union. This card contains a magnetic strip that contains the personal identity and secured information of the holder. This card also contains the photo of the card holder and is used at the money dispensing machines (Automated Tailor Machines or ATM’s).

It is small card that contains the complete financial details of the customers. The terms of the deal are set by the lender which include how often payments are to be made, what will be the minimum payment, and what the rates of interest that will be applied are. The borrower has to pay not just the borrowed amount but also the additional charges based on the rate of interest.

Credit card is a beneficial tool for the customers. Some of the benefits are:

• Emergency Protection: If you’re ever in an emergency, you’ll see how helpful a credit card can be. Whether you’re stuck with medical bills or auto repair fees, these credit cards can be used anywhere and at anytime.



• Convenience: There’s no need to carry money in the wallets. Just the plastic card is enough. You can buy anything what you want at any time even if you don’t have cash with you.



• Building Your Credit: If you dream of buying a house or really nice car, you need to have a credit history that demonstrates that you can take on debt and pay it back on schedule. You can use a credit card to make small purchases and build up your credit score by paying your statement on time.



• Security: Large amounts of cash can be lost or stolen. But if your credit card goes missing, you can have the account cancelled and a new card issued without losing any of your money.

Credit cards can help

you improve your daily lives if you use them responsibly. But the temptation to live beyond your means and max out your credit limit can be a problem. That’s why it’s important to think of your credit cards as tools that you can use.

Some of the important things to be kept in mind that will help you to manage your credit card debt are:

• Go Back to Cash: If you’re having trouble keeping your credit card in your pocket, switch back to cash for a while. Using cash for a bit will help you remember that little purchases add up.



• Make a Budget: The first step to financial freedom is a realistic budget. Sticking to a budget will help you from splurging with your credit card.



• Get Credit Counseling: If your debt gets out of control, talk to someone! Ignoring your credit problems won’t make them go away – it will only make them worse. Talk to your parents or a trusted friend who may be able to help, or consider getting help from a group or institutions that can help you with your problems.



• Set a Limit: Many analysts recommend keeping your credit card balance around 30% of your credit limit for maximum benefit in the formula used to calculate your credit score. A promise should be made to yourself that you will not exceed the limit and the credit card debt will not go out of control.

There are many benefits of having credit card. If you understand that credit card money is just like loan, things would be better. If you aim to clear your credit card balance every month, it will be beneficial else the balance will have interest charged on it and there can be all the consequences that occur with loan.

We strive to provide only quality articles, so if there is a specific topic related to credit card that you would like us to cover, please contact us at any time.

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Get Out Of The Trap...now!

“If you can't stand the heat, get out of the kitchen!” That aphorism should be inculcated in the minds of every credit card holder who collectively amassed about $800 billion in debt . Some financial analysts have tagged it appropriately as a “debt trap”. Are you one of those victims?

Finding ways to pay these bills can be worrisome. When you have a long list of unpaid credit card bills, this can put a lot of pressure to yourself. We think of ways of how to pay the bills or we ignore them and give more priority on our other expenses. Then comes another sets of bills, and another... and these bills have piled up in front of you. You again think of other means to pay the generating interest of your credit card that now has become overdue. To pay the bills, you apply for a new loan from another credit card company --- until you find yourself trapped in the debt cycle. Needless to say, being in financial trouble can be stressful. So how do you manage it?

It is perfectly normal to experience stress. Being under emotional distress is a normal human reaction. it just simply happens to most of us. But there are people who seem to handle stress quite gracefully and some can't get rid of it. A study of stress was done to a group of executives and it showed that top executives have shown lower stress signs while low and middle level executives show many stress symptoms such as high blood pressure, gastritis and tension. According to the research, probably the main reason is that the top executives have learned how to handle the pressure without letting eat them up. But, you don't have to be an executive to manage stress, it can be learned by even ordinary people like us, most especially big time or multiple credit card holders.

When we use our credit cards, we tend to be carefree and not realize how the interest rise up if we can not pay it on a timely manner. When the overdue bills come raking in, and we do not have money to pay for it, then the “danger alarm” begins to activate in our brain. Stress is like the alarm that was turned on during a “dreadful” situation. To beat the stress, we somehow must learn how to manage stress.

So, how do you learn stress management? There are two things that must be learned according to experts; learn to do various relaxation techniques and learn not to put the “danger alarm” on in your life.

Relaxation methods such as deep breathing, visualization or muscular relaxation. There are numerous books available related to relaxation techniques. The net is also an easy access to get information on these methods. Try these methods and see which works better for you. These techniques can easily be learned and gets better results.


However, learning not to put the “danger alarm” on in your credit card life can be a heavy task. If you can stop from unnecessary window shopping, then you might as well be going on the first steps of turning off that alarm. Change your lifestyle, buy things that are important and as much as possible do not buy something that you can't pay full come billing time. If you are tempted to buy something that is too expensive that will maximize your credit limit, learn to say no or alarm signals might turn on in due time.
Bottom line is be a responsible consumer. If you feel the urge to use those tempting credit cards and is beyond your limits, scram!, or you might be burned alive in the kitchen.

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How Are Finance Charges Calculated?

Whether you are shopping for a new credit card or wondering about the one that you may already have, knowing how to calculate the finance charge applied to that card is important. First, however, it is equally important to know what finance charges really are.

A credit card finance charge is the amount of money that you pay to the credit card company in order to use their credit. This is not the same as the purchase amount balance. The purchase amount balance is the dollar amount of the purchases that you made using the card. If you pay off the purchase amount balance within the stated amount of time that the company allows, you will have no finance charges applied to the amount. It is when you carry over your balance that finance charges are triggered and added to your account.

Finance charges are calculated using the amount of your outstanding balance and APR. The APR is the Annual Percentage Rate and all credit cards use them to figure finance charges. It is important for consumers to understand that the ARP can vary from one company to the next, and it can even vary within the same company. It is for this reason that consumers should always look for the companies with the lowest APR's. This will save you money in the long run.

There are several ways that credit card companies can calculate the finance charges that they apply to consumer credit. Many people do not realize it but the method that is used can make a difference in the amount of money that you will have to pay. Here are some of the methods that credit card companies use to figure finance charges on your outstanding balance:

They can calculate using one billing cycle or two billing cycles.

They can use the adjusted balance, previous balance, or the average daily balance.

They can exclude or include new purchases in the balance.

You will normally find that you have a lower finance charge when the company uses what is known as one-cycle billing and uses the average daily balance

method which excludes new purchases. Much of this, however, depends on the balance and the time of the month that you make purchases and payments.

The next lower finance charge method is the adjusted balance, followed by the previous balance method. You can see which method the company is using by reading the bill that you receive. This information is usually contained on the back side.

It is also important that you understand that some companies will have a minimum finance charge system. When a credit card company uses this system you will be charged that set amount even if your calculated finance charge is less than that amount.

Of particular importance to some credit card holders are the cash advance programs that come with some cards. Consumers should be very careful when using credit cards for cash advances. Many companies that offer cash advances treat those advances differently than they do purchases. Before you use your credit card for a cash advance, make sure you look for the details of how you will be charged for that advance.

You will certainly want to know what the APR is for cash advances. Keep in mind that this may be significantly higher than the APR that is used for purchases. You should also investigate the fees that may be applied to the transaction. Fees are in addition to the finance charge that you will have to pay.

Lastly, find out how your payments will be credited. Some companies will apply your payments to your purchases first and then to any advances in cash that you have taken.

Use your credit card wisely and keep track of your finance charges and you will enjoy your credit more fully and avoid some of the pitfalls that many consumers experience.

Peter Kenny is a writer for The Thrifty Scot, please visit us at Bank Charges and Best Credit Cards
Visit http://www.thriftyscot.co.uk

We strive to provide only quality articles, so if there is a specific topic related to credit card that you would like us to cover, please contact us at any time.

And again, thank you to those contributing daily to our credit card website.

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Credit Card Debt Consolidation Help - Pay Off Your Debts Completely

If you find it difficult to pay your bills each month, get credit card debt consolidation help. It will come across as the key to your debt problem, quicker than you can envisage. It consolidates all your debts on credit cards with high interest rate, into a single debt. It makes it possible for you to evaluate all the debt relief alternatives, on hand. The main objective of taking credit card debt consolidation help is to achieve lower rates of interest, thus minimizing the cost of your debt. Moreover, it is extremely feasible as you no longer need to take care of paying several bills on a monthly basis.

The various options that credit card debt consolidation offers you for credit card debt reduction are based on a few basic questions that you are required to answer. These include the information regarding the number of credit cards you possess; the position of your payment on all those cards; other unsecured debts like your medical bills or other payments without any collateral that you may have; and other secured debts; that is, debts with collateral, such as car loans mortgages etc that you may have.

With credit card debt consolidation help, you have the freedom to choose the option that best suits you. But you must choose credit card debt consolidation services carefully, as some plans may save you more money, while others may finish off your debt quicker; some may have lower interest rates while others may have more flexible payment conditions. Your priorities should influence your choice. Debt consolidation companies are able to reduce your total debt through debt settlement, wherein the creditor agrees to finish off the debt at lesser value than you actually owe to him.

It is essential to understand, why a creditor agrees to settle the debt for a lesser amount. This is because, if the debtor becomes bankrupt, he is not liable to pay anything to his creditors. So, for creditors, a part of the dues are also welcome. With credit card debt consolidation help, not only you can get rid from your burden, but also help the creditor recover a major part of his bad debts. Thus, it pleases both the debtor and the creditor.

Credit card and debt consolidation have a very strange relationship. They seem to be inseparable. As, if you own a credit card, you falling into its debt trap is more than a possibility. Credit card debt consolidation help is therefore welcomed by people, who find it difficult to deal with a grave debt situation on their own. The nominal fee that they pay to debt consolidation firms is a small price to rid them from this great problem.

Smith Chen is an author and internet marketing consultant.
Find more about information live and review page more

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Debt Consolidation And Credit Repair

Debt and credit issues face all Americans whether they are currently working or not and whether or not they have managed their finances well over the years. A multitude of financial concerns plague many who have had tragic circumstances hit them such as job loss, unforeseen health problems, divorce, disability and many other situations. Personal stress mounts as looming bankruptcy or constant collection calls shadow family after family who has accrued huge debts through credit cards, mortgages, car loans and business refinancing.

Many people who live under the crushing weight of mammoth debt can find some help or complete debt relief through many avenues of debt resolutions that are available from a myriad of financial sources. Knowing which avenue to take in resolving financial problems is often a confusing and daunting task which in itself makes many consumers want to give up before they even get started. Considering that the average American carries over $8,000 in credit card debt alone and has up to 8 credit cards in his or her possession, it would seem that proper financial management would be the first step in addressing anyone's credit concerns.

There are many sources that offer credit counseling, debt management options and financial planning for everyone's needs. Consumer credit counseling agencies offer various financial planning and management options at no charge. Many Americans can choose a local consumer credit counseling agency for free workshops on budgeting and financial planning as well as free counseling from staff members who specialize in debt settlement or debt relief strategies. Keep in mind that many consumer credit agencies offer free help but they also work in conjunction with large financial companies such as credit card institutions and other businesses.

Consumer credit counseling agencies can negotiate a debt settlement for credit card debts through a refinancing strategy with these financial institutions, but they also may receive a percentage amount of your settlement which is donated back to the credit counseling agency. There have been questions as to conflict of interest in some cases, so in order to receive not only free credit counseling, but your best deal, make sure you ask plenty of questions regarding any debt relief transactions on your behalf. You can also choose help from one of the many Christian financial ministries that are listed online. Many Christian financial ministries offer financial counseling and planning for anyone who wishes to contact them.

Some Christian ministries provide one-on-one counseling, workshops, materials and long range planning for serious financial issues such as credit repair and debt eliminations options. Many financial ministries are non-profit and may only suggest a donation for their materials and professional advice. Ministries that specialize in financial management are different from other types of financial agencies or businesses in that they always provide a biblical perspective and solution for fiscal management for individuals, families and businesses.

The third option you have for effective financial solutions to any debt problem you may have is through a financial management business or law firm. Many of these businesses are approved by the Better Business Bureau and provide certified financial specialists or lawyers who can guide you to a positive resolution through strategies such as debt consolidations. Using financial strategies such as professional negotiations to reduce your overall credit card debt to an agreed upon amount is a common specialty. This avenue can provide you with a workable plan to help you get debt free and provide you with a way to repair even your credit reports over a reasonable amount of time.

As you determine which avenue is the best to deal with your financial difficulties, be sure to compare your options. A consumer credit agency, financial ministry or financial business can all provide you with abundant information and workable solutions. Choosing the right one for your particular situation, however, will be the first major step in providing you with debt relief and hope for future financial stability. No one wants to end up in bankruptcy and most would rather deal with debt reductions in a positive way that will eventually free them from financial bondage as well as provide a good financial outlook.

Smith Chen is an author and internet marketing consultant.
Find more about information live and review page more

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And again, thank you to those contributing daily to our credit card website.

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Lost Or Stolen Atm Or Credit Cards

It has happened to all of us. We leave our credit or ATM card behind in a store, sometimes not noticing until the next time we reach for the card. Even worse, your card may have been stolen from your wallet or purse while shopping or in a crowded area when we are distracted by the kids or other events.

"An ounce of prevention is worth a pound of cure" - wise words! Make it a habit to always check that you have your credit or ATM card after making a transaction. Even if you feel rushed by someone behind you in line, step aside and make sure you have your credit or ATM card, your receipt, and all of your purchases. Remember this also when your card is being used with an ATM machine or buying gas with a card. Don't forget it!! Always store your card in the same place in your purse or wallet.

OK, so it still happens to all of us. Another preventive step you can take is to be familiar with the policies of all your credit card and ATM card companies' rules about your liability for lost or stolen cards. Most companies offer free protection; others require a small annual amount to provide you this service. Highlight the policies, notification phone number, and reporting procedures for each or your cards and file away so it is easy to find when you are in a panic because of a missing credit or ATM card.

When you notice your card is missing, try to remember where you last used it. Most stores will keep any cards left behind, so either call or go back to enquire. If you can't locate your card within an hour, or you can't remember when you last used it, you must contact the corresponding card companies immediately.

At this point, you go back to your highlighted policies and procedures. Most credit card or ATM companies have a customer service number that will give you the recorded phone option to "report a lost or stolen card". This choice on a phone menu will usually connect you with a real person. You will need to cancel your account and set up a new account once you report your card as missing or stolen.

When traveling, keep a list in your blackberry or pocket calendar of the telephone numbers to call for each credit or ATM card you may be carrying. There is nothing worse than confronting this situation and not having access to the contact numbers.

Per law, the credit or ATM card company may not charge you more than $50 for any fraudulent use of your card after it has been reported as lost of stolen. However, if you wait more than two days to make the report, your liability goes up to $500.

We hope these helpful, common sense tips assist you in guarding the security of your credit and ATM cards.

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And again, thank you to those contributing daily to our credit card website.

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0 apr credit card

When Not To Cancel Credit Cards
We have an article that details the benefits of canceling old, unused credit cards, but is this always a good idea? The answer to that is no. There are times when keeping a credit card line open is actually more beneficial to your overall credit health than closing it.

One occasion when you might want to hold off on canceling those older credit cards is when you plan to apply for a major loan. Major loans include such things as a home loan, car loan, boat loan, or other loans in excess of a few thousand dollars.

The reasoning behind this is that closing credit line accounts, especially those that you paid on time and in full, can actually lower your credit score.

Paying down accounts that still have a balance is important to your credit score, but simply closing paid off accounts will not help you improve your credit score at all. As mentioned above, canceling a large amount of unused credit may actually hurt your overall credit score.

You may be saying to yourself: That doesn't make sense!

Here is how this works. It has to do with how credit bureaus calculate your score.

The reporting agencies use many different factors when figuring out your credit score and one of the factors that they use is the total amount of debt you have on your credit cards and the revolving accounts that you have divided by the total amount of debt available on those accounts. Once these calculations are done, a number less than 1 (one) will occur.

This fractional number is one way they use to judge your credit worthiness. The lower this fraction is the better. To help

you better understand this, if the resultant number was exactly 1, then that would mean that your outstanding debt is equal to your available credit and you would be at the maximum level, or maxed out for credit.

For example, if you had $5000 in current debt and you had $15,000 in your various credit lines, you would divide $5000 by $15,000 and you would get 1/3. This means you are currently using 1/3 of the credit that is currently available to you.

To take this a step further: If you cancel an old credit card that has a $5,000 limit (but no current balance owed on it) you will still have the same $5000 in current debt (see above example) but you only have $10,000 in your credit lines (as compared to the $15,000 mentioned above). When you do the math you come up with the fraction of ½. In other words, you are using ½ of the credit that is available.

Keep in mind that the closer you get to the number 1, the less attractive you are for future credit.

The best advice for anyone contemplating a home or auto loan is to keep the credit lines that you have until after you have finalized the loan itself. Then it is safe to cancel the card.

If you are not planning a major loan activity and the balances on your old cards is zero, go ahead and close them out. This will not hurt your credit score.

Peter Kenny is a writer for The Thrifty Scot, please visit us at Debt Consolidation and Personal Loans
Visit http://www.thriftyscot.co.uk

We strive to provide only quality articles, so if there is a specific topic related to credit card that you would like us to cover, please contact us at any time.

And again, thank you to those contributing daily to our credit card website.

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