| |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
  |
| ||||||||||||
| |||||||||||||
 |
| |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
 |
| ||||||||||||
| |||||||||||||
| |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
 |
| ||||||||||||
| |||||||||||||
| |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
 |
| ||||||||||||
| |||||||||||||
| |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
 |
| ||||||||||||
| |||||||||||||
| |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
 |
| ||||||||||||
| |||||||||||||
| |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
 |
| ||||||||||||
| |||||||||||||
| |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
 |
| ||||||||||||
| |||||||||||||
| |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
 |
| ||||||||||||
| |||||||||||||
| |
| |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
 |
| ||||||||||||
| |||||||||||||
Search Box
Custom Search
Custom Search
Low Interest Credit Cards
Comments
0
MSN Partner card
Credit Card Catches
Credit card offers these days often come accompanied by pages and pages of fine print. Buried in this legalese are some common catches that could impact you in a major way. From universal default clauses to annual fees, here are the most common credit card traps you should avoid:
Annual Fees – An annual fee is a charge sometimes required by credit card companies for use of an account. These fees usually range between $35-$50 and are most common with subprime credit cards designed for borrowers with poor credit and rewards credit cards. You can see exactly what the annual fee on a credit card offer is by checking out the “Schumer Box” in the rates and terms section of the offer. With a rewards card, you should ensure that the benefits of the mileage or points program outweigh the cost of the annual fee.
Bill Payment Fees – Even with online banking becoming increasingly common, some credit card companies charge extra fees for paying your bills online or by phone. If this is the case with your card, be sure you pay your bill by mail as soon as the statement arrives. You don’t want to have to pay an extra $5 or $10 just to make your credit card payment on time each month.
Grace Period – Standard credit cards commonly have a 20 to 30 day grace period. This is the period of time when you can pay your credit card bill without being charged interest. It is important for borrowers who like to use their credit cards frequently and pay their bills in full each month to have a long grace period. If your credit card doesn’t have a grace period, interest is charged on your debt as soon as you make a purchase.
Introductory Rates – Most credit card offers these days include an introductory rate for the first few months. A 0% offer can be a great deal as long as you know what strings are attached. How long does the introductory rate last? Does it apply to new purchases and balance transfers? Creditors can usually cancel the introductory rate early if you make a late payment. In some cases, you may have to pay interest retroactively on a debt if you haven’t paid it off before the end of the introductory period.
Penalty Rate – If you make a late payment on your credit card, you may have to kiss your good interest rate goodbye for a while. About 75% of credit card providers include a penalty rate clause with their credit card offers. This clause states that your rates can increase dramatically if you make a late payment on the account. The average penalty rate on a credit card is around 23%, a costly increase for a credit card that normally has a 6-12% APR. After about six months of on-time payments, most creditors will consider lowering your APR again.
Universal Default Clause – This increasingly common policy allows creditors to increase your interest rates if you make a late payment on any account, not just on their accounts. For example, your credit card APR could increase to the penalty rate if you make a late payment on an unrelated loan. Your creditors track your payment history with other accounts by checking your credit report. You can avoid problems with this clause by paying all your bills on time each month.
Even with hidden catches, credit cards are one of the easiest and most affordable ways for you to borrow money. As long as you avoid these credit card traps and use your accounts responsibly, you can make the credit card system work for you. Luckily, Credit.com has taken the pain out of reading the fine print! Search for credit cards that meet your requirements online with Credit.com’s credit card chooser tool.
Credit Card Q&A
Have a question about credit cards? Our experts answer the top ten most frequently asked credit card questions. Read our answers and submit your own question by email.
1. How do I apply for a credit card?
Applying for a credit card is easy! Simply choose a credit card online that meets your needs. Click on the orange “apply” button or the picture of the credit card and you will be connected to a credit card application. Most of the applications are very short and only take a minute or two of your time. If you would like a credit card application emailed to you, send us an email at cs@credit.com letting us know what kind of card you are interested in and we will reply with your credit card application.
2. How do I report a lost or stolen credit card?
To report your credit card lost or stolen, please call the customer service number on your billing statement. They will be able to help you close the card and issue you a new card. If you do not have your billing statement, either search online or call directory assistance (411) to ask for the toll-free number of the banking institution (ex. Capital One, Citibank, etc…) that issued your credit card.
3. How do I contact my credit card company?
Your creditor’s toll-free customer service number is printed on the back of your credit card in small lettering. Their customer service team will be able to assist you with billing, lost or stolen cards, fraudulent charges, change of address, and more. Unfortunately, Credit.com is not able to assist you with your account. Please contact your credit card company directly.
4. Where do I send my credit card payment?
If you have lost your billing statement and need help getting the address to make a payment, simply call the toll fee phone number on the back of your credit card. The number will be written in small lettering underneath your signature strip. Most credit card companies also allow you to pay your bill over the phone. To make a payment over the phone you may use the same customer service number on the back of your credit card.
5. What is a "secured" credit card?
A secured credit card can be a very helpful way to start building credit or to rebuild your credit. Secured credit cards are perfect for individuals who have been turned down for a credit cards, have never had a credit card, or are currently in bankruptcy. Secured cards offer guaranteed approval for all borrowers, despite their financial history.
Secured cards guarantee approval by asking you to secure the card with a deposit, usually $200 to $250. This deposit will act as your credit limit and will be returned to you when you cancel your card. While your card is active, your credit card company will report your status to the three major credit bureaus. Your credit line will periodically increase, helping to improve your overall credit score and credit history. These credit cards tend to have higher interest rates, especially when withdrawing cash from an advance fund, so use them wisely. You can apply for a secured credit card online today.
6. Why do I receive credit card offers in the mail and then get declined for a credit card?
Credit card offers often use reporting services from Innovis (Innovis is sometimes know as the “4th Credit Bureau”) to determine what credit card products to offer. However, once you submit your application, the credit card companies may use your credit scores from Experian, TransUnion, and/or Equifax to make the final decision whether to approve your application. Often the information from Innovis is different from the three major credit bureaus, thus causing the discrepancy.
7. How long will it take to receive my credit card?
You can expect to receive a letter in the mail with the status of your credit card application within 5-7 business days. If approved, you will receive your credit card within 10-15 days of your approval letter. The credit card company will inform of you of the estimated time it will take for your card to arrive along with a phone number in case you have questions on your approval letter.
8. What do I do if someone else has used my credit card or obtained a credit card in my name without my authorization?
Contact the credit card company immediately! Let them know you suspect you are a victim of identity theft. They will often remove fraudulent charges from your account. If a card was obtained without your authorization, cancel the credit card and report the fraud to the credit card company. Next contact Experian, Equifax, and TransUnion (the three major credit bureaus) and they will put a fraud watch on your credit. Click here to read more information on identity theft and credit monitoring programs
9. Why should I have a credit card?
Credit cards help you build your credit, increase your borrowing power, and make major purchases. If your future goals include owning a home, buying a car, owning your own business, or traveling, having a credit card is an excellent first step.
Credit cards give you borrowing power. Your credit limit contributes to the amount of borrowing power you have. If you have several credit cards with large credit limits, you have a lot of borrowing power. This makes you more attractive to lenders because of your increased ability to pay back your loans. Credit cards also report your repayment history on a regular basis to the credit bureaus. If you use your cards wisely, lenders will see that you are a trustworthy person who makes your payments. A person who is responsible and has alternative means to repay loans is a low-risk applicant and has a much better chance of qualifying for a loan than someone with no history and no credit line.
Credit cards can also be used as an additional form of identification. They can be necessary when renting a car or staying in many hotels, and they are excellent alternatives to cash. If your credit card is lost or stolen, you can be reimbursed for any fraudulent charges made. If your cash is lost or stolen…good luck! Cash is much harder, if not impossible, to claim if it is stolen.. Credit cards come with many benefits, but borrowers should be careful to use them responsibly. You can apply for a credit card online now.
10. I have bad credit/no credit: Can I still get a credit card?
Sure you can! There are several different credit card options available to borrowers with credit troubles: secured, unsecured, and student credit cards. Student credit cards are regular credit cards designed for students who are first-time credit card applicants. You must be a student to qualify for these offers.
Secured cards offer guaranteed approval for all borrowers, despite their financial history. Secured cards guarantee approval by asking you to secure the card with a deposit, usually $200 to $250. This deposit will act as your credit limit and will be returned to you when you cancel your card. While your card is active, your credit card company will report your status monthly to the three major credit bureaus and your credit line will periodically increase, helping to improve your overall credit score and credit history.
If you are looking for something similar to the secured credit card but cannot afford to put down a deposit, you may want to consider an unsecured card for borrowers with credit problems. These cards allow you to apply with a processing fee of $39 that you pay after the credit card company receives your application. Your initial credit limit will be at least $250 and the following fees will be billed to your first statement: annual fee of $48, account set-up fee of $29, program fee of $95, monthly participation fee of $6, and an additional card fee of $20 per card (if applicable). These fees will reduce your available credit until they are paid. Although you will ultimately pay the same as if applying for a secured card, an unsecured card will give you the opportunity to spread out your payments over several months.
Our recommendation is if you are considering either the unsecured card or the secured card, choose the secured card. You will save money in the long run by going with the secured card, and the security deposit is refundable. The fees on the unsecured card are not refundable and you will have to pay interest on any initial charges you don’t pay right away.
Credit Cards
| Free Debt Information-Get the True Facts | |
Credit Rating
Free UK Credit Report & Score
Get an instant free copy of your Credit Report by email.
Credit rating reports live from Companies House UK
Credit rating online from checkSURE with data from Companies House UK for reports at budget prices. ... This credit rating file contains information on where ...
check my credit rating - from Experian CreditExpert
Check your credit rating with Experian credit expert. ... A credit rating is a score based on your financial history, designed to help ...
Investor Relations
Investor Relations overview page - the home of everything for ... Credit ratings. Preference shares and bonds. Corporate governance. Electronic communications ...
Credit Rating - home
... Open University offers a credit rating service to professional bodies, ... the credit offered for their particular area of study in General Credit Ratings. ...
Get an instant free copy of your Credit Report by email.
Credit rating reports live from Companies House UK
Credit rating online from checkSURE with data from Companies House UK for reports at budget prices. ... This credit rating file contains information on where ...
check my credit rating - from Experian CreditExpert
Check your credit rating with Experian credit expert. ... A credit rating is a score based on your financial history, designed to help ...
Investor Relations
Investor Relations overview page - the home of everything for ... Credit ratings. Preference shares and bonds. Corporate governance. Electronic communications ...
Credit Rating - home
... Open University offers a credit rating service to professional bodies, ... the credit offered for their particular area of study in General Credit Ratings. ...
www.open.ac.uk
Nationwide Investor Relations - Credit Ratings
A. Moody's www.moodys.com. Aa2. P-1. A1. Fitch Ratings www.fitchratings.com. AA-. F1+. A... Nationwide maintains regular dialogue with the rating agencies. ...
RBS: Debt holders - Credit ratings
Credit ratings. Recent issues. Securitisation. Calendar. Useful contacts ... and the Long Term Credit Rating to access the latest Credit Rating Analysis. ...
Nationwide Investor Relations - Credit Ratings
A. Moody's www.moodys.com. Aa2. P-1. A1. Fitch Ratings www.fitchratings.com. AA-. F1+. A... Nationwide maintains regular dialogue with the rating agencies. ...
www.nationwide.co.uk Credit ratings
Credit ratings. Preference shares and bonds. Corporate governance. Electronic communications
... Credit ratings. Credit ratings. Moody's. S&P* Fitch. DBRS ...
Credit ratings. Preference shares and bonds. Corporate governance. Electronic communications
... Credit ratings. Credit ratings. Moody's. S&P* Fitch. DBRS ...
RBS: Debt holders - Credit ratings
Credit ratings. Recent issues. Securitisation. Calendar. Useful contacts ... and the Long Term Credit Rating to access the latest Credit Rating Analysis. ...
www.investors.rbs.com
cofacerating: on-line business credit rating ...
Trade debt risk assessment ratings for ecommerce companies.
cofacerating: on-line business credit rating ...
Trade debt risk assessment ratings for ecommerce companies.
How Do You Remortgage With An Adverse Credit History
What makes adverse credit remortgage loans work is that the financial firm has your home as collateral. So if you should default on the loan, the firm has something tangible that they can collect on. It makes it easier to get a loan based on collateral value as opposed to just a good credit score.
Adverse credit remortgages are easy to apply for and you can even do it online. There are a several online remortgage websites that specialize in adverse credit loans and refinancing for people with bad credit. These sites are full of helpful information so you can see if a remortgage finance is right for you. Each remortgage finance firm’s site has a link to an application form. Just click on it and it takes you straight to the form along with instructions on how to fill it out. The application form for adverse credit remortgages will need such personal information as your credit score, employment and work history, annual income, personal ID such as social security numbers, and details about your home.
If you don’t want to do it online, you can also check with your local financial institutes to se if any of them deal in adverse credit remortgages. Chances are a normal lender will not but even if they don’t, they might be able to offer advice or have some contact information for an institute that does handle these types of mortgages.
You should be sure to do plenty of research before you sign a remortgage deal. After all, you want to be sure to get the best deal possible so you want to comparison shop. I have said this many times before. Never go with the first offer. Chances are there will be a better offer somewhere else. The thing to keep in mind about signing an adverse credit remortgage deal is that the payments that you get may not be the best that someone with superior credit might get. Adverse credit remortgages are designed to improve your credit rating by giving you a much lower interest rate that will save you money and make it easier to pay off your loan. But remember that you are putting your home at risk. If you have bad credit because you have a history of not paying your bills, there is a chance you could lose your home. So think carefully before deciding on an adverse credit remortgage deal.
Get Informer means To Get Informed on All Information Here. Fun, Songs, Videos, Latest Pictures, Google Adsense, Urdu SMS, Poetry, Cricket and More. Just Keep Visitin For more Updates
Subscribe to:
Posts (Atom)
