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.

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

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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.

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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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

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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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

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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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.

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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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

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What Are Credit Card Fees?

Credit card companies are in the business of making money. It really is that simple. They earn their money through two principle methods. One is through the finance charges that they levy when you make purchases on the card, and the other method is through the use of credit card fees. It should be understood that these are not one in the same. They are different, and knowing more about the fees that a company charges (or does not charge) its customers can help you save money.

Credit card fees can (and do) vary from one company to the next. There is no set schedule for credit card fees. This makes it very important for consumers to read carefully the literature that is supplied by the company in order to know exactly what you will be billed for during the course of your association with the company.

Some of the more common types of fees include:

Annual Fees: Many credit card companies are moving away from this particular fee, but there are still some that use it. The annual fee is generally just a yearly fee, billed monthly, for having the card. Whenever possible, you should avoid credit card companies that charge an annual fee. You get nothing but the card in return for this payment.

Set Up Fee: This, too, is becoming less popular with most companies, meaning they do not charge it any longer. Again, however, there may be some companies that do charge a fee for setting up your account. Read carefully exactly what the

fee is and the explanation that the company offers for charging this fee. You may find that working with another company that does not charge this initial fee is a good idea.

Cash Advance Fee: This is one fee that you will find with many credit card companies. This fee is applied to your account if you take a cash advance from the card. It can be a flat fee or it can be a percentage of the cash amount. Keep in mind that this is in addition to any finance charge the company will levy as well.

Late Payment Fee: This fee is assessed when you make a late payment. The trigger date for this fee is the "due date" as it is stated on the bill.

Transfer Balance Fee: Not all companies will charge this fee, but some will. This fee is levied when you transfer a balance from one credit card to another one.

Exceeding the Limit Fee: This fee may be assessed should you exceed your credit limit. Modern technology has made it harder to exceed your limit in that online approval or disapproval from the company is immediate.

Increase Limit Fee: Some companies will charge a small fee when you want to increase your credit limit. Not all do, but some will want to charge this fee.

Bad Check Fee: As with most companies, if you send a bad check the credit card company will usually want to charge for this.

These are just some of the possible fees that a credit card company may charge to your account. It is important to read their literature carefully in order to know what they will charge for and what they do not charge for.

Peter Kenny is a writer for The Thrifty Scot, please visit us at Bank Charge Refund and Secured Loans
Visit http://www.thriftyscot.co.uk

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How Does Cash Advance Work?

Today, more so than ever, credit card companies are allowing cash advances to their customers. Not all credit cards will allow this, but many of them do. While it is tempting to use this service at times, consumers should be very careful before taking that cash from the credit card. Here are some issues concerning cash advances that you should know about.

For the most part, credit card companies treat a cash advance differently than they do a purchase. Of particular importance to consumers is the interest rate that the company may charge for the advance. You should carefully check to see how much more interest you will be charged for the cash advance as compared to the purchase interest rate. In many instances, the interest rate for the cash advance will be much higher than the purchase rate. Do not assume that the purchase rate will apply to the cash advance. Check on this before you take the money.

Most (but not all) credit card companies will allow you to get the cash advance from an ATM machine. Other companies, however, may send you checks in the mail. You can learn how the company handles this by reading the billing information that you get from them. You should check to see if there will be any additional charges should you use an ATM.

Your credit card company may also impose a cash advance fee when you take cash. The fee is in addition to the finance charges and may be in addition to any ATM fees that are levied.

Almost all credit companies have a cash advance limit. Some companies limit cash advance amounts to a specific dollar amount, while some limit the amount to a percentage of the credit limit that you have with

them. When a specific amount is stated it may say: $300 per advance or it may be worded as $300 per week. While this limits your cash advance amount it also limits the amount of cash a thief could charge to your account should your card be stolen or your information compromised.

Restrictions can be an issue as well. Some companies will not allow electronic transfer of cash advances to certain accounts. An example of this might be an online gambling site.

Understanding how cash advance payments will be applied to your account should be on the top of the list for anyone who is using or planning to use the cash advances companies offer. Here is why.

Some credit card companies (indeed, most of them) will treat your cash advance as a separate entity. This means that payments that you send in may first be applied to your regular purchases account and whatever is left over (if anything is left over) will be applied to the higher rate cash advance portion of your bill. In other words, if you make only the minimum payment per month, your cash advance balance may not go down at all, and will, in fact, go up because of the interest that is being charged.

Your credit card company must tell you how it treats payments when a cash advance is involved. You should read this information carefully, and if the system they use makes you uncomfortable, then avoid using the cash advance services.

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

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How Do I Cancel My Credit Card?

Here are two important questions for credit card consumers:

How many credit cards do you have?

Do you need all of them?

Many consumers carry several credit cards with them on a daily basis, but use only a few over any given period of time. For many people, two or three credit cards are all that is truly needed. The rest of them can be cancelled, and probably should be cancelled.

One of the very best reasons for canceling some of those cards is that it reduces your temptation to use them. After all, you cannot put additional credit on something that you do not have. However, before you begin chopping up those unused credit cards, consider the following.

Make sure that the credit card you are going to cancel is an empty account. This means that the balance on the card is zero. If you owe anything on the account, even a few dollars, make sure that you pay it off completely before you cancel the card.

Silence is golden. If you are planning to cancel a card, keep it to yourself. In other words, do not tell the credit card company that you are planning to leave. This applies when you have a balance on the account but are planning to pay it off and then leave. It does not always happen, but some companies may increase your interest rate on that balance if they think you are leaving soon.

Timing is important. If you are planning to apply for a big loan in the near future such as a home loan or car loan you may want to hold onto your old cards (don't use them, just hold on to them). In some cases, canceling a credit card can hurt your credit score which is used during the home, car, boat etc. loan process. If the balance on the old card is

zero, then simply keep it put away until after the future transaction has taken place. Once the transaction is finalized, you can cancel the card.

When it is time to actually cancel the credit card your first step should be to contact the creditor. In some cases, you can cancel an account via phone. In other cases, you need to do it by mail.

If you cancel by phone and you have been a good customer do not be surprised if you end up talking to someone who will try to convince you to keep the account open. In some cases, they may offer you some incentives for staying with them. This might include a lower rate, better promotional deals (air miles or phone minutes for example) or any other benefit that they feel you might enjoy. If the new rate, for example, is lower than some other card that you have, you may want to reconsider your cancellation. If the new incentives do not make a substantial difference, go ahead and cancel.

You should also ask that the credit card company tell the credit reporting agencies that the account was closed at your request. Make a note of the time you called, the day you called, and the name of the person you talked to on the phone. You should get, via mail, a confirmation letter that your account was closed.

Follow these steps and canceling your old credit cards will be painless and safe. You will be happy that you did this work later on when you have fewer bills each month.

Peter Kenny is a writer for The Thrifty Scot, please visit us at Credit Cards and Homeowner Loan
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.

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Breaking Down Debt Consolidation

Debt Consolidation is a procedure that a number of different people follow nowadays and ultimately what it means is that the person that is swimming in debt that happens to be far above what they have the ability to pay back is going to be the person that goes through a procedure that combines all of those different loans into one source of debt and therefore allows themselves to pay back the consolidated debt in a much easier and less stressful manner. Now, this is perhaps a definition that you’ve been exposed to before and while it sounds good on the top, ultimately it needs to be explained so that more people understand exactly what it is that is being talked about. We will break down a typical debt consolidation case over the rest of this article.

The Problem

The financial situation for the hypothetical person here has become very bleak. They have $10,000 left on their car loan, their mortgage still has a balance of $80,000 and when you toss in all of their other credit card debt, you get to the point where they are in debt up to $100,000 all things said and done. Now, $100,000 is a lot of money and in the case of a typical family it might even be more than three years worth of their wages, so ultimately when you take a look at the $100,000 of debt, you would want some plan that would allow you to deal with it.

The Solution

When you look at all of the different solutions, the first thing that you need to do in all of them is get your bearings. While the car loan and mortgage only represent two different sources of debt, the remaining $10,000 might come from as many as five or six other

sources and that can make it very difficult to keep track of. So what you want to do is consolidate those debt sources into one debt source and the way to do that is to take out a home equity loan of $20,000 to pay off everything else and combine that $20,000 with the $80,000 mortgage that you already might have.

The Benefits

Aside from the convenience factor of only having one source of debt instead of several as was discussed above, there is also the interest rate factor. While the average mortgage will have an interest rate between 5% and 7% and most car loans will as well, credit card debt is usually going to be two to three times that amount and likely four or five times that amount if the debt is because of cash advances. So the interest rates would get lowered whenever you take a look at it that way.

Now, credit card minimum monthly repayment amounts are such that you are going to usually be paying at least 5% of your balance each month; in other words, credit card companies expect that any balance you happen to generate on your credit card can be cleared up in less than two years. Mortgages, as many people are aware, have 20 to 25 year terms and therefore the monthly repayment amount of consolidated debt will also be lower and therefore easier to manage.

LoanGuru.org and HomeEquityLoanStore.org provide professional financial services with free quotes form multiple lenders: mortgage loans, home loans, equity loans and other types of loans for any individual’s financial needs.

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What You Must do If Lose Your Credit Card?

What If I Lose My Credit Card?
Report the loss immediately. Those four words are probably the most important words you can remember should you lose your credit card. Let's look at this a bit more closely.

There is no debate that in the US more people are carrying credit cards and debit cards than ever before. The simple fact is that with millions and millions of credit cards being carried around on a daily basis some are bound to be lost. It should be noted that in this article the word lost can also be synonymous with stolen.

Two pieces of literature that you should be aware of are the FCBA, which is the Fair Credit Billing Act, and the EFTA, which is the Electronic Funds Transfer Act. These two documents along with the credit card company policy will give you a lot of solid information to use should you lose your credit card.

Here are some of the more important procedures that you should take as soon as you realize your card is gone.

In order to limit your loss should the card be used by someone, you must report the loss (credit card or debit card) to the card issuer as soon as possible. The vast majority of companies have a toll-free number for you to use for this purpose. This number should be on your billing statements. Call this number as soon as you can. There is a reason for this urgency which we will explore in a moment.

After you have made the initial call, you should also write the company a letter. Write the pertinent information about your account as well as the date that you noticed the card was missing. If you reported the card missing to the police, mention that also.

Under the FCBA, your maximum liability for unauthorized use of your credit card is $50. However, if you report the loss before your credit card is actually used, the credit card company will not hold you responsible for any unauthorized charges. Keep in mind that if your loss involves only the number of your card and not the card itself, will not be held liable for unauthorized use as long as you report the use as quickly as possible.

There is a difference if the loss involves a debit card. These rules fall under the Electronic Funds Transfer Act or EFTA. Under federal law your liability for unauthorized use of your debit card or ATM card depends on how soon you notify the company of the loss.

The EFTA states that you cannot be held responsible for its use if you report an ATM or debit card missing before it is used. This is why it is imperative that you report the loss immediately. On the other hand, it is just as important to understand that if the debit or ATM card is used before you report it lost, your liability under federal law will often depend on when you notify the card issuer.

For example, when you notify the bank or card issuer within two business days of the loss, you are liable for only up to $50 if the card is used. However, if you do not report the loss within two business days, you could be responsible for up to $500.

If you do not report the loss within 60 days, you can be held responsible for unlimited loss. The thinking is you should have noticed the unauthorized charges on your billing statements by that time. When this happens you risk losing the funds that you have in your bank account as well as any unused portion of your credit line that has been established for overdrafts.

For any unauthorized transfers involving only your debit card number—not the loss of the actual card—you are liable only for transfers that occur after 60 days following the mailing of your bank statement containing the unauthorized use and before you report the loss.

In other words, when unauthorized transfers appear on your bank statement you should immediately notify the company. Once you have reported the loss, you cannot be held liable for additional unauthorized transfers that occur after that time.

It is a good idea to make it a habit to physically check your credit cards and debit cards to make sure you still have them. Do this once a week and you avoid many problems if you happen to lose your credit card.

Peter Kenny is a writer for The Thrifty Scot, please visit us at Compare Credit Cards and Car Insurance
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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