Guaranteed Approval Credit Cards for Bad Credit

Each person tries to make his credit history as favourable as possible. However, there are certain circumstances that simply make it impossible for some.

At a certain point, whether it is intentionally or unintentionally caused, some people may incur a bad credit. In such cases, everything else gets negatively affected, including credit card approval.

Credit cards are known to be very useful and convenient. Nevertheless, approval may not be that straightforward. There are definitely a lot of requirements that must be fulfilled and submitted. Of course, one's capacity to pay his bills is going to be an utmost consideration.

Thus, not only is the income reviewed and compared against the supposed credit limit but the credit history as well. Of course, a negative credit history will most of the time be an enough reason for credit card application disapproval.

This further makes it difficult for one to redeem his credit standing. This may be unfair for some especially if such bad credit history has not been intentionally incurred. Likewise, in most instances, not only are credit cards disapproved in cases of bad credit but loans as well. This gives the person lesser options in making his finances run smoothly in some way.

Good thing there still remains to be several credit cards that guarantee approval in spite of bad credit. There are quite a number of options to choose from. Majority of these may be browsed online. Applications may also be accomplished online which are guaranteed to be secure and confidential. Not only this, online applications makes it easier and a lot faster for one to identify if his application has been approved or not.

Among guaranteed approval credit cards for bad credit, First Premier Bank Gold Mastercard appears to be the top choice. This is mainly because the offer remains to be a gold card not just a classic card in spite of bad credit.

Thus, a higher credit limit is still going to be available and there will definitely going to be more perks. Of course, the classic version remains available for those who prefer it. Online applications promise to give decisions in about 60 seconds as well.

Moreover, if one intends to wipe out his bad credit history and start rebuilding a good one, it may be easier as payment terms are said to be easy for this particular option. 4 major credit bureaus are also being reported to monthly which is advantageous if one really is doing a great effort in redeeming himself. Furthermore, access is available 24 hours and may be done over the phone.

First Premier Bank has indeed been known to be one of the generous providers of guaranteed approval credit cards for those with bad credit. Included in their list of available credits cards are the Centennial Visa and Mastercard and Centennial Gold Mastercard.

Whatever the type may be, approval is guaranteed and is promised to be convenient and fast. On the other hand, credit cards from Orchard Bank are great options as well. Terms and conditions are normally consistent among credit card providers.

These types of credit cards are indeed great options for those with bad credit. However, their use must not be abused in any way. They must keep in mind that such is already a great opportunity to make their credit histories good again. Thus, they must avoid incurring expenses that are going to be impossible to settle once again.

Our Recommendation: New Millennium Bank Platinum Visa® or MasterCard® or NMB Secured Black Diamond Visa®

Guaranteed Approval Credit Cards Comparison and Reviews
http://reviews.ecreditdirectory.com/categories/guaranteed-approval

Low Interest Cards

Credit cards are all over the internet but the true question is "What kind of cards is out there that offer low interest?" While a lot of cards offer low interest rates, many don't. I'm going to differentiate what cards have the best rates and which cards don't. There are certain categories that I can tell you that you won't even find a good rate.

Cards that require good credit - Cards like cash back or just about any credit card that will allow you to receive rewards are going to be the cards that you want to look at if you're looking for a low rate. Why is this? Card companies are willing to give these card holders a lower rate because of their credit rating. The companies won't have to worry about the card holder not paying their balance off. The lesson here is to look at cards that require a great credit score.

Don't look here: bad credit - If you have bad credit, you're going to have a hard time finding a card with a low rate. As I explained above, a person with a low score is a risk to the credit card companies and they may know that you won't pay your balance in full. What does this mean for them? They can charge you more interest because they know they are going to get more out of you.

In the end, if you have great credit, you'll have no problem finding a card with a low rate but if your credit is shady, it's going to be awfully hard to find one.

Find low interest credit cards and more of Tom's work all at FINDlowcards.com

Types of Credit Cards

When considering what types of credit cards may be available or suitable, there are numerous possibilities on offer.

To begin with, not all plastic cards are credit cards. Many cards that can be passed over to a machine for payment are in fact debit cards. A debit card is different to a credit card because with a debit card the costs are debited directly to the cardholder's bank account. In effect, the total cost will be taken from your account immediately.

The mechanics of a debit card transaction are usually simple. The cardholder passes the card over and the card transaction systems will check the issuing bank online to see if funds are available to complete the transaction.

When originally introduced, it was anticipated that debit cards would make obsolete the conventional chequebook. In fact cheques continue to be used because they do provide 2-3 days grace to get funds in place before they arrive at the bank and they can be sent by post unlike a debit card.

By contrast, a credit card offers the person using it a line of credit linked to an account supplied by the card issuer. In use, the card will usually be checked by the vendor's system against the card issuer's database to ensure that sufficient authorised credit is available.

The cardholder receives a monthly bill from the card issuer that may be paid immediately in full, in which case no interest will be charged. If the bill is not paid in full, it's possible to pay a variable portion of it (subject to a stated minimum payment) but in those circumstances the card issuer will charge interest on any outstanding balance. Most credit card issuers will charge an additional amount if the monthly payment is not received by the due date.

Although there are various types of credit card, they generally can be seen as coming into one of two categories
· Open credit cards that may be used in many outlets as required
· Store or group credit cards that may be restricted to use in specified retailers.

In the case of the former, these credit cards are true credit cards and can usually be used for multiple purposes and in many thousands of locations and outlets.

Store cards are often restricted to specified outlets. The store will have an account linked to their card and the card holder will be able to purchase items from the store on the same basis as the credit card transaction - except that this time the card will be checked against the store's records.

Credit cards come in multiple forms. They may be 'branded' in the name of any organisation or sometimes even an individual. Their facilities, costs and conditions will typically all vary considerably from one to another.

There may be gold or platinum cards that offer high credit limits and added benefits such as free insurance. The issuers may restrict these card types to applicants that can demonstrate regular and higher income. Some cards offer schemes that involve receiving a credit or 'points' every time the card is used. These credits can be redeemed for cash, vouchers or gifts, depending upon the particular scheme.

The interest rate charged on unpaid balances can also vary significantly between different types of credit card and the amounts involved. As the variations may be very significant, it's usually wise to study this carefully in advance. Some cards may offer 'interest free' facilities for periods when transferring the outstanding balance from one card to another but this may result in a much higher interest rate at the end of the 'free' period. As always, it may prove beneficial to shop around for the best deals.

Jon McGovern is from Tescocompare.com, the insurance comparison site where you can compare car insurance policy features and prices.

Cash Back Credit Cards - Get Free Money

Money is the best reward when it comes to getting something back for using our card. Cash back cards are offered by a wide variety of issuers. If you use a credit card this is the one card you should have. There are many incentives that credit card issuers will offer but cash gives you the flexibility and control to be the bass.

The popularity of these cards continues to increase as consumers have realized the advantages. There are two basic ways they work. The first way is that the credit card company will simply send you a check when you have accumulated a $50 or $100 credit. The credit balance should appear on your monthly statement. The second method that companies operate is to have you call and request the check. This information will be in the terms and condition section of your contract.

A major factor to consider with these cash cards is to know what purchases will get you cash back. Most cards will reward you a flat 1% on all purchases. Those cards will also have bonus merchandise, such as gas and groceries that pay a 5% bonus. This is where you really can benefit. When shopping for a card look for the items that will be in your normal monthly budget, you spend these dollars anyway. Every time you spend $1000 you have $50 of free cash! That is a nice reward for simply using your credit card on items in the monthly budget.

Be wise in the use of this card. If you carry a balance on the card then the interest charged will negate the benefits of the cash reward. Pay off the balance on time and the maximum benefit of the card is realized. Use the card for budgeted items and this will not be a problem.

Cash back cards give you the most control and flexibility in the reward category. Compare card offerings and see what best works for you.

compare card offerings

Why Not a Prepaid Credit Card?

Why not a pre-paid credit card? It's a well tried and tested concept after all and quite straight forward. We're all used to prepaid phone cards, prepaid gift tokens and prepaid gas and electricity meters. The prepaid credit card simply takes the same logic a further step forward, with the added novelty of it being a "credit card without debt"! For those who have struggled to keep spending on their "plastic" within reasonable bounds, prepayment could represent a heaven-sent opportunity to finally knock their domestic budget into shape.

In fact, it's probably something of a misnomer to call it a prepaid credit card, since no credit is involved and, therefore, there's never any interest to pay. Whenever you use it (in exactly the same way you would use any of your other plastic), you'll only be spending money that you've already loaded onto your prepaid card. So, there's never any danger of getting into any debt on a prepaid card.

You load money onto the card in much the same way as any other prepaid facility - namely, by cash, by bank transfer or by using another credit card. Since your prepaid credit card is also a MasterCard or Visa, you can use it anywhere that MasterCard or Visa is accepted, at home or abroad. Using it abroad, of course, would give you a very handy and rather more convenient alternative to carrying travellers' cheques - with the added reassurance that it's not going to let you overspend on your holiday money! Furthermore, if the card is lost or stolen, you can simply contact the issuing company, and they'll send a replacement.

The prepaid card offers the same protection against fraud as regular credit cards. So if you use it to shop online or over the telephone and the card's been used fraudulently, you can recover the loss. A card also offers greater safety than cash when it comes to carrying it around, so it could be an appropriate alternative for use by children or the more vulnerable (the jury's probably still out on this one though, and many issuers still limit the use of prepaid cards to those over the age of 18).

As you can imagine, the issuing companies love the idea of a prepaid card, since your use of them is practically risk-free. There's no need to check your credit status or history, so prepaid credit cards are issued more or less on demand.

So, is there a catch? Not so much a catch, as the relatively high cost at the moment of using a prepaid credit card. Because they're a relatively novel idea, competition in the market has probably not yet brought the costs as low as they might become. In the meantime, therefore, you should make your choice of card-provider on at least some of the following considerations:

* Will you be charged for simply opening a prepaid credit card account?

* Is there a monthly service charge, and, if so, what exactly do you get for it?

* Is there a charge each time you want to load credit onto the card?

* Will the places that accept your cash to top-up the card also charge for that service?

* Is there a charge for using the card or withdrawing cash on it, including internet purchases?

* Will you be charged for having the card sent to you by express delivery?

* Is there a charge for closing your account?

* Will you be charged for replacing the card, in the event that it is lost or stolen?

* Do you have to pay a fee each time the card is renewed (i.e. upon each expiry date)?

Compare credit cards at http://www.confused.com/credit-cards

American Express Credit Card

The American Express credit card is accepted at places that accept major credit cards. There is no annual fee and there is a zero percent APR. You can use the credit card and earn rewards that can be applied to travel discounts. American Express offers Premium Rewards cards, Reward cards, Air Travel Rewards cards and Hotel Rewards cards. There are also Cash Back and Saving Reward cards. You can choose the card that is right for your needs.

Premium Rewards cards

These cards come with different lines of credit. There is the Preferred Rewards Green Card, Gold Card, Rewards Plus American Express Gold Card and the Platinum Card. The Platinum Card allows you to have the VIP treatment. You earn one point for every dollar you use the card for and you earn four points for shopping at the BonusPointsMall and double points at American Express Travel. The Gold Card, Rewards Plus Gold and the Green Card allow you to earn one point for every dollar you charge and earn three points at the BonusPointsMall.

Rewards and Cash Back Cards

There are two rewards cards. They are the blue and the clear cards from American Express. The cash back and saving rewards cards are the Blue Cash and the TrueEarnings Card from American Express and Costco.

The Rewards Clear card allows you to earn a twenty-five dollar shopping card for every twenty-five hundred dollars you spend. The Rewards Blue card allows you to earn one point for every dollar you charge and three points for shopping at the BonusPointMall.

The cash back Blue Cash card earns five percent cash back, has no annual fee, and offers unlimited rewards. The TrueEarnings card earns three percent cash back for restaurants and gasoline and so much more. These are the best American Express credit cards.

Air Travel Reward Cards and Hotel Rewards Cards

The air travel rewards cards are Blue Sky, Gold Delta Skylines, Premium Delta Skylines, Delta Reserve card and the JetBlue card. The hotel rewards cards are the Hilton HHonors Card and the Starwood Preferred Guest card.

The Delta Reserve card earns you one mile for every dollar you charge. The Platinum Card earns one mile for every dollar you charge and the Gold Delta earns double points on every Delta purchase and one mile for every dollar charged. The JetBlue card earns one award dollar for every dollar charged and double award dollars for dining, travel, leisure and entertainment dollar charged.

The Starwood Card earns a Starpoint for every dollar spent and double points for staying at Starwood resorts. The Hilton HHonors Card earns six HHonor points for every dollar that is eligible and any purchases at the Hilton hotels.

If you need a charge card that earns you points or cash back, the American Express credit card is the one you need. There is a card for everyone and the rewards are an added bonus. All you have to do is apply for the right card and start using it to earn points or cash back.

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Unsecured Credit Card

An unsecured credit card is when you obtain credit without having to have money deposited into a savings or checking account. These types of credit cards do not require you to have a minimum balance so that you can use it. Unsecured credit cards are becoming the way of life. When you do not have cash to spend, put it on credit and pay for it later.

How to Get an Unsecured Credit Card

For most people, the offers will come to you. Lots of credit card companies send applications to almost anyone. All you have to do is fill out the enclosed application and send it in. There are some companies that you can apply to over the phone or online. Applying this way will get you faster results in getting your card.

No Credit, No Problem

If you are just starting out with credit, then you may not have received an offer through the mail yet. You can always go online and check out the credit card sites. This may be the best way to get your unsecured credit card. When you look for credit card offers online, you will get to choose from the best deal that you can find.

As long as you have money coming in, you will probably get approved for a credit card. Your limit on the card maybe a low one, but that will increase as you build a good credit background.

Shop Around for the Best Deals

If you are looking for an unsecured credit card, then do some shopping and research. Make sure that the company that you choose is in good standing. You want to get a card through a major credit card company. Look for the offers that have the best interest rate. Since you are a beginner to the credit world, you will probably get a higher percentage rate. Do not be alarmed about this; remember as you increase your good credit, your percentage rates will come down over time.

How to Shop Online for a Credit Card

If you are looking on the Internet for a good credit card offer, choose wisely. Make sure that you are not just giving out your information to every offer. Make sure that you are on a secure site before you give out any personal or private information. There are scams out there that will pretend to be a credit card company and they are actually scam artists that only want your information to steal your identity. Just be careful like you would with any online site. Use your common sense and best judgment when it comes to choose the right credit card offer for you.

Debt consolidation can help you pay off debt faster but it's not the best choice for everyone. Find out more about whether you should consider consolidating your debt on the Inside Debt Consolidation website at http://www.insidedebtconsolidation.com

Enjoying the Benefits of Gas Credit Cards

There is really a very slim chance that gas prices will ever go down. Protesting won't really help make gas companies lower gas prices. So, what you need right now is something that could ease up all your anxiety over high gas prices. And the better way to get a secure gas budget is to apply for a gas credit card. Even if you're still not convinced about the advantages of using one, sooner or later you'll need it very badly.

The best word to probably describe gas credit cards is that it is advantageous. How beneficial is this card anyway? Well, firstly, it's convenient to use. Simply present it to an authorized pump station, to refill your car's gas tank, and automatically receive gas discounts. Most of these cards offered today provides 2-5% discount on each gas purchase. So, apply for one now before regret not having to try one for once.

Apart from the convenience it presents, and in order to encourage its users to use it frequently, card companies provides points for every gallon of gas purchased. These points are accumulated and can eventually be converted to free gas. Just think of the savings you can get in using this card. You wouldn't want to resort back to using cash on all your gas purchases.

Apply for a gas card now before you get all stressed out because of the relentless increase in gas prices. And join the many people who enjoy the benefits of using a gas credit card.

Want to start saving using gas cards, visit http://www.GasCardsGalore.com

Time is Almost Never on Your Side When it Comes to Credit Cards

If there is one thing I know for sure it is the credit cards certainly know how to work time in their favor!

Today I am addressing how quickly a credit Card company will act when raising your interest rate and the impact it will have on you.

First how long before the credit card company can raise your rate...One billing cycle...that's it!

So how long could it possibly take you to reverse this increase if not addressed immediately? Depends on the credit card company but here are the highs and lows. Some credit cards require 12 straight months of paying on time before they will reduce your rate. The shortest time I have seen so far is 4 months.

OK...so let's say you have missed one payment and have been perfect every other time. There is a slight chance that your credit card company will not raise your rate. Let's assume they do raise your rate immediately.

All is not lost but you must act fast!

You get what you negotiate not what you deserve. Remember, you have nothing to lose and a great deal of your money to save!

So what should you do...call your company and ask for the manager or supervisor. By the way, the best time to call is during regular business hours when a true decision maker is there. I have tried this strategy at night only to discover that no-one was available that had the power to overturn my increase! So is it really worth the fight?

Think that maybe it is not worth your effort to fight this interest rate increase? Take a look at the numbers and then determine what this will REALLY cost you.

Let's use a $5,000 balance breaking down the next 12 months only.

I am going with an original interest rate of 10% and an increased interest rate of 25%. Note that many credit card companies are raising interest rates to as high as 32%!

Here is the interest money you would have to pay in the 12 month period:

10% interest = $456.62

25% interest = $1,221.72

Looking for more incentive to fight that increased interest rate? How about this stat:

At the 10% interest rate your remaining balance = $4,086.74

At the 25% interest rate your remaining balance = $4,755.63

To me this equates to a total loss of $1,433.99 ($765.10 in new interest and $668.89 in additional remaining balance). THIS IS JUST THE FIRST 12 MONTHS!

To me the decision is clear...you must fight to prevent this increase or pay dearly moving forward!

I spent the first part of my adult life making EVERY money mistake possible! I found myself buried in debt with no clear direction or understanding what to do. I found myself living a nightmare struggling with an ever mounting debt and no way out or so I thought! I then began my mission to TOTALLY eliminate my debt. I found my freedom through all of the systems, strategies and techniques I never knew existed. This wasn't an overnight discovery...this took me the better part of 10 years to learn. My mission today is to help as many people as I can to discover the true freedom they deserve in carrying zero debt. You will not have to wait 10 years like I did. Your debt elimination process can start TODAY with results seen immediately. Please continue to read my articles, read my blog and go to our website. I have no doubt we will help you get your life back while breaking the shackles that have you down. You can find my blog at blog.nodebtuniversity.com or visit our website at http://www.NoDebtUniversity.com

Secured Credit Cards For People With Bad Credit

A secured credit card is the best type of credit to apply for when you have bad credit. You perhaps have had problems in the past that kept you from paying your bills on time or perhaps you lost your job and were not able to make payments for a while. Then you should apply for a card this will help you to rebuild your credit. Make sure that you apply for your secured credit card at a major bank that will make the credit report to the three major credit reporting bureaus.

There are several reasons that a secured card is much better than the sub-prime unsecured credit cards. The first reason that you should look into is the fact that the fees are not nearly as bad and most of the time you can negotiate for an unsecured card after a time of proven credit record. You are normally only charged a one -time application fee that ranges from $30 to $150. There is usually no annual fee and you are normally not charged a monthly maintained fee. Once you have used your credit card and made timely payments then you have build your credit score to a better one then banks will start offering you unsecured cards. This is the time that you should build your credit score by accepting at least one card but do not over extend yourself. This is your opportunity to build your credit by using a card as a stepping stone.

If you have bad credit, you don't need to make this your only option. There are many other ways out there to bulid your credit once again. From prepaid cards that help to unsecured based cards. As long as you do your homework, you should be able to find the one that fits your needs.

Find a secured credit card that can help build your credit as well as more of Tom's work all at FINDsecuredcards

How to Get Great Credit Repair Results

The Foundation of Credit Repair Success

It's time to take stock. Where are you today? Are your finances stable enough to make timely payments on your obligations from this point forward? Credit repair can completely transform your credit and even put you on the path to long term wealth. But to be a good candidate for credit repair you must be able to keep up with your existing commitments. There is no point in making the effort if you are still slipping backward each month. If you can commit to timely payments from this point forward you are a candidate for genuine credit repair success!

Understanding the Nature of Credit

Credit repair success can be measured by the changes in your credit scores. Cleaning up all of the erroneous reporting issues from your credit report is essential, but in the final analysis it is your credit scores that will tell the tale. Credit scores are the result of everything on your report. As important as eliminating negative items may be, the presence of positive credit is even more important. In short, good credit scores require the presence of open and properly managed accounts. Managing your accounts for credit repair success is easy if you know how.

Your Accounts and Credit Score Optimization

As odd as it seems, you may make all of your payments right on time, for years on end, and still have awful credit scores. The good news is that a bit of knowledge can turn things around on a dime and lift your scores dramatically. There are two parts to this credit repair secret; type of credit, and account balances. When it comes to your credit scores not all credit is created equal. It is simple; mainstream credit cards, such as MasterCard, Visa, American Express, and Discover are good. Store cards and consumer credit, such as furniture store loans, are bad. If you have store cards or consumer debt you should work on paying it off. Now, let's chat about managing those good mainstream credit cards for credit repair success.

Revolving Account Management

If you don't have any good open credit cards, open them now. If you can't get approved for unsecured credit, just get a couple of secured cards. They are easy to get and you won't be denied. Once you have your credit cards you are in a position to really get your credit scores moving in the right direction. All you need to do is get the balances under twenty percent of the cards capacity. If you have a five hundred dollar card get the balance under one hundred dollars and watch your scores take off. Conversely, you need to know that a balance near the card's limit can knock as much as one hundred and fifty points off your score. If you have high balances, don't worry. As soon as you pay the balances down your scores will pop right back up (just allow time for the creditor to report the new balance to the credit bureau).

Whipping Your Credit Report into Shape

Credit repair rule number one: Give yourself the benefit of the doubt! Don't believe everything on your credit report just because it is in writing. If there is any chance a derogatory item is erroneous, dispute it! For goodness sake, it's your credit and it's important, so get pro-active, or hire a professional credit repair service to manage the process for you. There is plenty of evidence to support an aggressive approach to credit repair. Over seventy five percent of all credit reports contain errors. The majority of these errors cause consumers to pay premium interest rates on the money they borrow. Don't be victimized.

Two Handy Credit Repair Tips

Once you get into the task of cleaning up your credit report here are two handy credit repair pointers that can help you out. First, legally, collectors are supposed to withdraw their reporting of an account as soon as they sell the account or return it to the original creditor, but they rarely do. Challenge all questionable collections. And, second, credit card issuers have been known to underreport credit card limits. This underreporting has the same impact on your scores as if you had run up your balance. Proofread your reports carefully for accurate credit limits.

Don't be Afraid to Ask for Credit Repair Help

Reach out! If you don't have the time to manage the job of credit repair on your own call a pro. A credit repair professional will review every single detail on your report. They will be able to identify your credit score optimization options, find deficiencies in your credit, and dispute all of the questionable derogatory issues in an experienced and efficient manner. Good luck with your credit repair project!

Copyright © 2008 James W. Kemish. All Content. All Rights Reserved.

Jim Kemish, a nationally recognized consumer advocate, is the president and founder of Sky Blue Credit Repair, a leading credit repair service since 1989. Jim is also a regular contributor to The Credit Repair Blog, a prominent consumer resource.

Trade Lines - Still A Viable Option?

Adding authorized users to trade lines is a controversial topic. Lately it seems there are more critics with an opinion on the topic; unfortunately, the critics aren’t providing the public with honest and accurate information. There are critics who would like you to believe that after September 1st the practice of adding authorized users to enhance a credit score will not be effective. That just isn’t the case.

There are three credit bureaus: Experian, Equifax and TransUnion. Fair Isaac owns Experian and Fair Isaac is the company that has developed the FICO scoring models.

Experian is the only credit reporting agency that will be implementing new software September 1st and this software in effect will not acknowledge authorized users that are added to trade lines. However, it is very important to note that Equifax and TransUnion will still be using the previous versions for their scoring models that notice authorized users.

It is important to note that even in the event that Experian will implement the new software, that means ALL lenders that use Experian MUST also use the new Fair Isaac software in order to access Experian’s new credit score for the client. This is important; if a lender or bank has NOT purchased and implemented the new Fair Isaac software, then the score that Experian delivers, will revert to the old scoring model; the scoring model that recognizes authorized users.

As history has suggested, in most cases, it takes a long time for banks to implementing new software. As an example, most lenders still use Fair Isaac’s 1997 scoring model, even though many newer versions have been released since then.

We know there are many hard working Americans that need to refinance out of their high adjustable-rate mortgages and into lower fixed-rate mortgages but can’t because of low credit scores. Adding seasoned trade lines is the fastest way to boost credit scores and remains the best method to increase credit scores in the shortest period of time.

It is encouraging knowing that lately our trade lines have been increasing scores and appearing on our clients credit reports within 10-30 days. There is no need to lose your home and learn from financial mistakes when you can learn from your successes.

Ted Stearns, owner of TradeLine Solutions, a San Diego based credit aide company, is not a newcomer to the world of finance. His experience began as an options and futures broker with Currency Trading International about 12 years ago. Since then he has been a financial advisor who hosted a live radio show on AM 1000 KCEO for four years, educating callers and listeners on stocks, bonds and various investments. Over the last five years he has delved into the nationwide mortgage business informing both clients and lenders alike in the arena of purchasing and refinancing.

With all former experience as his guide, he has come into the world of trade lines to help clients better their financial situation. Able to glean from the perspective of both lender and client, he has the unique ability to see the need of the purchaser and meet it head on.

Credit Score - An Overview

Credit score is nothing but just a number that determines the history report of your activities. To speak things clearly, it is a quantity that determines whether you have any better chances of obtaining a loan from any creditor or not. Better the activity report the better you have the chances of qualifying for a loan you deserve.

A credit score, if offered with a number, generally ranging from 300 to 850. It can occupy any number in this range and based on this number, the loan issuing companies evaluate your potential and judge you accordingly. It is considered average if it occupies a number above 600. And as already said, better the number better the chances of qualifying for a loan. A person with a bad history report or in other words, with lower score is considered to be generally ineligible for any loan.

There are many factors that determine the credit score and each loan issuing company might have a different strategy in evaluating the number of an individual. For example, if you have filed for bankruptcy then that would lower your FICO with great ease. Though irregular payment installments might not show that much adverse affect on the FICO, they do show some significant impact on the same.

A bad credit score, on the other side, can be improved over time. If the due installments and the coming installments are paid in time, then the Bad report is likely to improve thus by improving your chances of obtaining a loan.

To get more information about Good Credit Score or Bad Credit Score, just visit our sites.

Why Banks Decline Debit and Credit Cards Deposits From Online Casinos

There was a time when it was quite easy to gamble at online casinos using your debit or credit card to make transactions, but not so anymore since the US Congress passed the Unlawful Internet Gambling Enforcement Act in 2006. Now with this new law in the making most banking institutions are declining their customers request to do any type of credit or debit card transactions pertaining to online gambling casino websites. It does not matter how much money is in your account, the banks are just refusing to carry out this type of transaction, even though this law has not yet been finalized.

Many of the major credit card companies do not accept transactions for online casino gambling purposes, however, there are a few exceptions to the rule, in other words there are some credit card companies that will accept these online gambling transactions, but because they usually treat these transactions as a sort of "cash advancement" be prepared to get charged a very high interest rate on you bill payment statement. For this reason more and more online gamblers and online casinos are shying away from using Credit and Debit Card payments to perform their online gambling transactions, instead they are opting for online processor services, which have become very popular in the online gambling community.

With the introduction of this new Act on Internet Gambling more and more online based processor websites are popping up on the internet as these wise people realized the need for such a service since the new law on Unlawful Internet Gambling Enforcement Act was announced in 2006. Today there are many different options for conducting deposit and payment transactions at online casinos. Some of the popular online companies offering these online processor services are; Bank Wire/E-wallet, Pre-Paid ATM, NETteller, Citadel, Fire Pay, Eco Card and Click2Pay and even though these are all web based companies and therefore available to everyone who has access to the internet, if you happen to live in the USA, depending on which online casino you happen to log onto, you may or may not be able to sign up for these services.

Whatever the outcome of the Unlawful Internet Gambling Act, and despite the banks refusal to carry out Credit Cards/Debit Cards transactions relating to online gambling, it is in the interest of the online casino websites as well as the online gambling community to find a way to work around these obstacles and ensure that online gambling will be around for a very long time to come.

Sarah Harrigan is a professional casino player and reviewer. For straight talking honest advice on online gambling casinos be sure to visit her website for comprehensive reviews on the top online casinos and winning casino strategies.

Credit Repair Quick Fix

Change Your Life

The words echo though the canyons of the Internet, "there is no credit repair quick fix". This could not be farther from the truth. If you make the mistake of believing this you will have done yourself grave financial harm. Credit repair can, in fact, clean up the errors on your credit report and dramatically improve your credit scores in a very short amount of time. And in the current credit market environment this can mean a life changing difference in the interest rate you will get on a mortgage, or a car loan, and even in your ability to obtain financing when you need it. So how does it work?

The Mystery of Credit Repair

There was a time when a timely payment history meant that you had great credit. Would you be aghast to discover that this is no longer true? In fact, it is so far from the truth that it is quite possible to make every payment on time for years on end and still have a dismal credit score. And herein lays the mystery of credit repair. The days of common sense credit are all in the past. Credit score optimization now requires a virtual road map. How did this come about?

The End of Common Sense Credit

The era of common sense credit begin its demise in the mid 1950s, when two then unknown researchers at Stanford University first conceived of a predictive model of credit behavior. Their concept was that it would be possible for prospective lenders to make lending decisions based only on a numeric representation of the credit worthiness of a loan applicant. The two researchers were engineer Bill Fair and mathematician Earl Isaac. The company they founded to develop their visionary algorithm was Fair Isaac Corp. and the world changing number they invented is called the FICO score.

It's a Predictive Model

The FICO score is commonly perceived by consumers as a report card score, a grade reflecting the quality of their financial responsibility. This is not quite correct. The FICO score is designed to predict, specifically, the future credit behavior of a consumer. And future credit behavior is not at all the same as a predictable continuum of past payment history. There is so much more involved; and it is in these details that a credit repair professional is able to guide you through the maze of obstacles to the goal of credit score optimization.

My FICO.com

If you visit the excellent Fair Isaac website you will find a wealth of credit repair guidance coupled with some worthwhile explanations of the mechanics of the FICO credit score formula. I recommend a thorough reading of the website for anyone considering starting a credit repair effort. You will find that the scoring model puts different weight on five discrete categories of data; 35 percent of your score is based on payment history, 30 percent on amounts owed, 15 percent on length of credit history, 10 percent on new credit, and 10 percent on the types of credit used. This is somewhat helpful, but there is much unsaid. Here are a couple of highlights that may assist your credit repair project.

Managing Your Credit Repair

If you are starting a credit repair effort you should vow to avoid late payments at all costs. But there is so much more involved. Your credit score is influenced by both the negative and positive information on your credit report. It is clear that you should clean up the erroneous derogatory information, but as importantly, you must feed positive information to the credit bureaus each month. It is essential that you have at least two open revolving accounts. But be careful, because if you get the wrong type of revolving accounts, or manage them improperly (and I don't mean making late payments), your credit scores can plummet.

Good Credit Bad Credit

There is good revolving credit and there is bad revolving credit. Your credit repair success depends on understanding this. All consumer credit, such as store cards and furniture store loans are bad. You cannot optimize your credit scores with this type of debt. You need mainstream credit cards; MasterCard, Visa, American Express, and Discover are winners. If you can't get approved for regular unsecured credit cards, get secured cards. They are easy to get and they make for great credit repair tools, if you manage them right! Here's how.

Watch Your Balance!

We noted above that FICO puts 30 percent weight on amounts owed. They also put 15 percent weight on age of accounts. What they don't tell you is that the amount owned on new accounts carries almost double the weight of an older seasoned account. This makes for both a great credit repair opportunity and a potential credit repair land mine. If you max out a new card you can lose up to 150 points on your score, but keep that balance down, ideally under 20 percent of the available credit line, and watch your scores take off. Good luck with your credit repair!

Copyright © 2008 Ian Webber. All Content. All Rights Reserved.

Ian Webber is an expert in consumer law and credit repair. Ian is a graduate of the London School of Economics and The University of Chicago where he earned his LLM. Ian consults with one of the leading online credit repair services and is currently based in Florida

Increase Your Credit Through Credit Cards

In order to build and maintain good credit, you must select, use, and pay on your credit cards, and other loans, wisely. Each step is important. Put them all together and your credit rating should rise. Make bad choices and you might hurt yourself in some surprising ways.

When applying for credit, only sign up for cards you're comfortable using for years to come. Getting into the habit of always signing up for the newest card and transferring your balances from the older ones to the latest with the lowest introductory rate can seem smart if it saves you interest and lowers your monthly payment. The truth is, however, that the credit reporting agencies may not be impressed, especially if you close your older cards. Payment history counts when it comes to your credit rating, so you don't want to close accounts that you have held open for many years. So, if you close your older card when you transfer your balances to the new one, you're really doing your credit score no favors. Avoid this credit rating pitfall by choosing your cards wisely to begin with and sticking to them.

The oldest myth about credit cards is the idea that you should pay off your cards every month to earn an excellent credit rating. Set your own record straight! Credit reporting agencies like Equifax and TransUnion show the most favor to credit card holders who carry small balances on their cards month to month. This proves to the agency that you're comfortable carrying and responsibly managing debt. Cardholders who follow this rule can watch their credit-rating rise.

Surely you've also heard that making payments on time is a must. Unlike the old myth above, this rule is tried and true. Paying less than the minimum payment or making your payment late will surely bring your credit score down and may also saddle you with late fees that lead to even higher balances. Always make at least the minimum payment on time to avoid being labeled slow or delinquent. If you do have late payments in your credit history, try to stay current on your new cards for at least two years. The reporting agencies pay the most attention to the recent past, not ancient history... so by getting back on track you can help your score go up.

To start building good credit with your credit card, you'll need to obtain the card, use it, and make the first payment before you'll see any effect on your credit score. You may have to sign up for a secured card in the beginning, which means you'll be required to put money into an account controlled by the credit card company in order to obtain the card. In this way, any debt you incur using the card is secured by the funds you've placed in the credit card company's account. It's a way for a creditor to take less risk when dealing with someone who has poor credit or no credit.

A secured card is just as good as any other when it comes to building credit, though. Once you've made your first payment on time for at least the minimum required amount to the creditor, you should see your credit score start to rise in the following weeks. If you carry a low balance month to month on the card, your credit should improve markedly assuming you have no other problem credit accounts pulling your score down. Other ways to build credit from scratch can include getting a low limit store card or a gas card... just be sure that you can make the payments and stay current.

While many consumers misuse credit cards and make poor decisions about purchases, management, and payment habits, you can see that responsible use of credit cards can actually be beneficial and is nearly mandatory when it comes to building and maintaining a good credit score.

For more articles on credit and how it can be improved through credit cards, visit http://www.bills.com/credit-cards/

Justin has 5 years of experience as a financial adviser; his key areas are loan consolidation, debt relief, mortgages etc. For more free articles and advice visit http://www.Bills.com.

Credit Restoration Tips

It seems like more and more credit restoration services are popping up by the minute. You can spot the advertisements for them online, on television and on the radio almost everyday. While I believe the awareness of credit repair and the help available to consumers is a good thing, it can also be very confusing on who to turn to.

When choosing a credit restoration service, one should always research the company's reputation. Many of the new services that are popping up mean well, but they are not as advanced as some of the credit restoration services that have been around for awhile. I would recommend sticking with a service that has been around for at least a couple years. The more you can find out about them, the better.

Do-it-yourself credit repair is another wise way to mend your credit history and can be a little less expensive. I say "can be" because if you are able to get the same results as a credit restoration service, you are obviously going to save yourself some money. However, if you are not able to get the same or better results as a credit repair service, it may end up costing you hundreds and even thousands of dollars in the long run. I'm not saying that to scare you, but you should take caution when trying to attempt repairing your credit on your own.

Most websites are eager to tell you that credit restoration should be done individually by the consumer. I agree that it should be as well, but encouraging consumers to just jump right in to it without warning them of the horrible consequences that could happen is just very bad advice. The way I look at it is this: Either way you are going to spend time and/or money if you have bad credit, either by paying higher interest rates, spending the time to learn credit repair, or paying for a credit repair service to fix it for you. It's your choice, but let it be known that sometimes when you try to skimp on things this important it can end up biting you in the end.

Chane Steiner is a credit repair expert and founder of AAACreditGuide.com, the credit restoration authority site. His site has helped many people repair their credit and get back on their feet. Chane has reviewed and recommends the following credit restoration services.

Understanding The Credit System

A Better Understanding About The Credit Bureaus

Automated credit reporting has enabled us to apply for credit no matter where we decide to live. For example, if a consumer with good credit history moves across the country to take a new job, he or she typically can obtain credit instantly in that new city. Of course the opposite is also true, no one can run away from bad credit. The person with negative information in his file has the unfortunate experience of seeing the face of credit death no matter which door he chooses. No matter where he moves, the same information is already waiting.

When working properly, the automated credit reporting system used in the United States enables lenders to either avoid consumers who do not pay their bills or lend to them on special terms. This lowers the cost for those with good credit similar to the way a safe driving record will yield a lower insurance premium. Overall, credit losses, which are ultimately passed on to consumers who do pay their bills, are thereby minimized. The bottom line: Without consumer credit reporting, few businesses could afford to extend credit to their customers.

There are many times, however, when good citizens get ensnared in a sticky web which threads are linked with transposed numbers, coincidental similarities, unethical collection agents, just plain bad luck and a host of common, human errors. The rest of this report will empower you with the knowledge you will need to untangle yourself from an imperfect system.

You Are Out Of The Loop

The credit reporting system is a business relationship between two parties:

· Independent Agencies that collect credit information called credit bureaus.

· Merchants who pay for a copy of this credit information on an as-needed basis.

Credit bureaus refer to merchants who pay a fee for their service as subscribers or customers. As with any business, the main focus of the bureaus is to meet the needs of their customers, the merchant subscribers (not you). When you apply for credit with a local merchant, the merchant turns to a credit bureau to obtain a copy of your "credit reputation" to help him evaluate the risks in extending credit to you.

The bureau doesn't actually approve or deny your credit, but rather supplies the merchant with your payment history as reported by other subscribers with whom you have received credit. However, the bureau will use a closely guarded secret formula to assign a credit score to each individual based on the information in the file.

This information is the most significant factor in the merchant's decision regarding your "ability and willingness" to meet your future financial obligations.
The merchant is counting on the credit bureau's information to serve as a filter to help separate good credit risks from poor risks. The shortfall of this system is that the product -- YOU, have little clout in this relationship. The merchant's primary motivation is to avoid bad credit risks, and the bureau makes a profit by charging the merchant for helping him do that. The consumer has no positive financial impact on the bureau. Thus, while you are out of the loop, you are surrounded by it.

If that weren't enough, you also have to compete against human nature. Without documentation of errors, the bureaus are inclined to report information as reported by subscribers, assuming the negative. After all, the merchant/subscriber is not going to complain because he didn't like what he saw on your file and thus didn't extend credit and did not lose any money. Any losses for not taking a risk are speculative and argumentative, certainly not tangible.

The only decisions that might draw criticism from the merchant are the losses as a result of the bureau omitting some negative information that would have caused the merchant to, have declined extending credit. This is not intended to make the credit bureaus appear the “great evil empire" that some have made them out to be. They are huge bureaucratic companies whose policies have evolved from simple business economics and human nature.

Every credit bureau desires to maintain as accurate information as financially feasible, but at the same time they realize the quality control limitations dictated by competition and operating costs. And they realize that if they do err, it is better to err on the negative side rather than the positive,
if , they mean to serve their subscribers' best interest. Although they want to develop as truthful a portrait of your credit history as possible, human nature compels them to give highest priority to recording any remarks that might be true and might keep their customer-base from entering into a risky credit arrangement. After all, that is their service, and nothing directly impacts their bottom line any greater.

It's much like having a mechanic check out an automobile before you make a decision to purchase it. The mechanic is put on the spot. If he tells you that it’s a good car, and it breaks down on you, then he will look bad. He'll never be burdened with your complaints about the three he blackballed, only the one he approved - if it should break down on you.

Human nature compels him to go into the situation looking for what's wrong, not what's right. You are about to make a major financial decision based mainly on the information your mechanic gives you. Similarly, the merchant may be making a comparable investment based on the information provided by the bureau.

Respectfully, Regis Sauger

Regis Sauger is a licensed Mortgage Broker in Florida, an author, lecturer on credit awareness. He have conducted seminars for underwriters, attorneys, mortgage lenders, realtors and the general public

http://www.yurcredit.com

Compare Low Interest Credit Cards

Low rate credit cards are one of my favorite cards on the market. Why do you ask? Well the main reason is you're going to get a low rate and the other reason is simply based that you're going to get great rewards and a card that treats you right. When you're looking for a low rate card, there are things you should look out for when you're comparing.

Look out for the intro rates - Low rate cards always offer great introductory rates. Whether it's a 0% for 12 months or a balance transfer for 12 months, if the card you're looking at has no intro rates, I would go elsewhere. You'll definitely want to take advantage of introductory rates.

Look out for the rewards - A credit card isn't complete without the rewards. If you find your card offers next to no rewards, I would once again look for another one. With so many cards on the market, it's easy to find a card that suits your tastes. The more you can get back whether it's cash back or via points, find a card that you can capitalize on!

Look for no fees - Most low rates cards have no fees. This means you should be looking for cards that have no annual fees, no monthly fees, etc. If the card has no fees, it's a good card. If it does, once again, you already know what I'm going to say.

These are the top three things you should look out for when applying for a low apr credit card. Use these comparison skills and a perfect card should come your way.

Find low interest credit cards and more of Tom's work all at FINDlowcards.com.

Quickly Increase Your Credit Score

There often is a fair amount of misunderstanding relating to the question of how to increase your credit score. The positive news is that it doesn't need to be like this at all. In this piece I'll explain a few of the the most important ingredients that you're going to need to deal with.

Looking at your existing credit report for errors or inaccuracies is a very substantial point to try to investigate. Getting your credit report is clearly the first thing to do here. The next step here is to investigate in writing inaccurate information you have noticed. The fixing of inaccuracies can genuinely lift your overall score.

Not closing good but dormant accounts you possess is a particularly substantial detail to endeavor to follow up on. Most people will tend to dispense with these sorts of dormant credit card account. Retaining them is a decidedly better tactic. This is going to lay down a more stable history and raise your credit rating simultaneously.

Not trying to make new applications for lines of credit is an exceptionally key thing to make an effort to investigate. This form of new application will lead to quite a large amount of unnecessary activity on your account. That is going to ruin your overall score. This is why avoiding the generation of new applications for credit right now is so important.

As I outlined during the intro to the piece, this is only a basic outline of a few of the key items with regard to the issue of how to increase your credit score. There is really just a small set of other really vital items that you really need to understand properly.

To quickly learn about those other elements now please go to credit score advice now. For the best tips http://info.answertrain.com/fixyourcreditreport.html

Cash Back Credit Cards - Looking at the Market

Cash back card is another option available amongst the credit cards as it offers several benefits to the card holders.

The most important benefit of a cash card is that you are able to get your cash back. These cash back cards are very popular in some parts of the world. People who use cards quite frequently find a cash card really beneficial. The amount that one gets in return may not seem to be substantial yet over a period of time the accumulated cash back is quite a huge amount.

an additional advantage of having a card is that it is tremendously supple different every additional reward card. The cash expected from a card which can be made use of anywhere. It can be used in gas station, grocery, departmental stores or other purchases. It is not a precise reward card. while, in an air miles card for example, the card holder know how to get a discount on an additional airline ticket or earn some bonus miles as a rewards all related to travel.

When you select a card you have to keep in mind the rate of interest which is charged up in place of solely focusing on the obtainable benefits over these cards. Cards offer 1-5% as cash back rewards.

Cards can be redeemed once a year. Some card providers present the payback once the client achieves a definite number of points. Some of the popular cash back credit cards include:

1. HSBC Weekend Card
2. Capital One No Hassle Cash Rewards Card
3. HSBC Platinum Mastercard with Cash Back Rewards
4. Chase Freedom Card
5. Bank of America Cash Rewards Platinum Plus MasterCard
6. Discover Open Road Card, Discover More
7. Bucksback Platinum Edition Visa Card.

It is always wise to read the terms and conditions to understand fully the details of the cash cards and then apply for the same. Also it is advisable to see to it that payment is made in full by every month. Otherwise the cash back will not be beneficial as it will be absorbed by the interest that needs to be paid.

Start getting cash back on your purchases with cash back credit cards, where you can also find more of Tom's work

Best Hotel Rewards Credit Cards

Do you travel a lot and find yourself staying in a lot of hotels? Well, if you're staying in a lot of hotels and you're not using a credit card, you're already not taking full advantage. It's like using a coupon and who doesn't want to save on money when going anywhere? I'm going to tell you how you can select the best hotel credit cards and where you can find them.

Look at the hotel chain you love: Do you always go to one particular hotel when you go out to sleep when you're on business or just for fun? The reason I'm asking this is because you're going to want to find a card that is associated with that brand. This way, when you use your card at the hotel chain, you'll be able to get more points compared to when you just use your card at every other place where you only get one point.

Look at the perks: Yes, every hotel card is going to vary. Some may give you complimentary upgrades just for being a customer and card holder and some may even send you exclusive coupons. Do your research online to find out what the best card is on the market when it comes to perks and everything else. You may want to switch brands if you're already loyal to one.

The main thing to remember when selecting the best is to do your research and you don't want to be bias when it comes to selecting a card because there are many hotels out there and great benefits as well.

Find hotel rewards credit cards and more of Tom's work all at FINDairlinecards.com.

5 Ways To Raise Credit Score

It's not as hard as you think to raise credit score. It's a well known fact that lenders will give people with higher credit scores lower interest rates on mortgages, car loans and credit cards. If your credit score falls under 620 just getting loans and credit cards with reasonable terms is difficult.

There are more than 30 million people in the United States that have credit scores under 620 and if you’re probably wondering what you can do to raise credit score for you.

Here are five simple tips that you can use to raise credit score.

1. Get a copy of your credit report

Obtaining a copy of your credit report is a good idea because if there is something on your report that is incorrect, you will raise credit score once it is removed. Make sure you contact the bureau immediately to remove any incorrect information.

Your credit report should come from the three major bureaus: Experian, Trans Union and Equifax. It's important to know that each service will give you a different credit score.

2. Pay Your Bills On Time

Your payment history makes up 35% of your total credit score. Your recent payment history will carry much more weight than what happened five years ago.

Missing just one months payment on anything can knock 50 to 100 points off of your credit score.

Paying your bills on time is a single best way to start rebuilding your credit rating and raise credit score for you.

3. Pay Down Your Debt

Your credit card issuer reports your outstanding balance once a month to the credit bureaus. It doesn't matter whether you pay off that balance a few days later or whether you carry it from month to month.

Most people don’t realize that credit bureaus don’t distinguish between those who carry a balance on their cards and those who don’t. So by charging less you can raise credit score even if you pay off your credit cards every month.

Lenders also like to see a lot of of room between the amount of debt on your credit cards and your total credit limits. So the more debt you pay off, the wider that gap and the better your credit score.

4. Don’t Close Old Accounts

In the past people were told to close old accounts they weren’t using. But with today's current scoring methods that could actually hurt your credit score.

Closing old or paid off credit accounts lowers the total credit available to you and makes any balances you have appear larger in credit score calculations. Closing your oldest accounts can actually shorten the length of your credit history and to a lender it makes you less credit worthy.

If you are trying to minimize identity theft and it's worth the peace of mind for you to close your old or paid off accounts, the good news is it will only lower you score a minimal amount. But just by keeping those old accounts open you can raise credit score for you.

5. Stay Out Of Bankruptcy

Bankruptcy is the single worst thing that will destroy your credit score. Bankruptcy will lower your credit score by 200 points or more and is very difficult to come back from.

Once your credit score falls below 620, any loan you get will be far more expensive. A bankruptcy on your credit record is reported for up to 10 years.

The reality of a bankruptcy is it will limit you to high-interest lenders that will squeeze out high interest rate payments from you for years.

It is better to get credit counseling to help you with your bills and avoid bankruptcy at all costs. By getting credit counseling instead of declaring bankruptcy you can raise credit score over a much shorter period of time.

Copyright © 2005 Credit Repair Facts.com All Rights Reserved.

Gary Gresham is a mortgage loan officer and the webmaster for http://www.credit-repair-facts.com He offers you credit information, debt elimination programs and informative facts that give you the knowledge to correct your own credit and credit report. For more credit related articles go to: http://www.credit-repair-facts.com/articles_1.html

Rebuild Your Credit - Using a Savings Account?

Did you know that in addition to a good credit card, you can also use a savings account to establish or repair your credit? You can, and it’s easy! Follow these 5 simple steps and you can rebuild your credit for next to nothing!

1. Open a Credit Union Savings Account
Call your local credit union tell them you want to open a savings account. Depending on the credit union you may need as little as $25 to open an account and between $300 to $500.00 to make this program work. If you don’t have enough cash yet, don’t wait. Open your account with the minimum requirement and begin to deposit as often as you can. Most credit unions require a small amount ($5-$25) to remain untouched to keep the account active. The remainder will be used for this program.

2. Take out a Loan Secured by Your Savings
Once your account is open and has the minimum available, take out a Secured Share Loan. This loan will be secured by your savings, and usually has a very low rate (avg 4-6%.) In most cases you can choose any repayment terms you like. If you plan to buy a home within the next 90 days, choose a 12 month repayment. Why? Once you have 10 months or less left, most lenders will not count the payment against your debt load! Also, request that the repayment to begin right away so there is no delay in building your credit!

3. Deposit the Loan Funds back into Your Savings Account
Don't go on a shopping spree! Have the credit union deposit the loan funds directly back into the savings account. Remember, this is to build your credit, not put you in debt! Now your account will show double the amount you placed in savings... For example: $500 for your savings (the secured amount), and $500 from your loan. This may also help if you need to show a mortgage lender additional savings!

4. Set up Automatic Drafts from Savings to Pay Back Loan
Ask to have the monthly payments for the loan drafted from your savings account. Now you are using the loan money to repay the actual loan, plus any interest. (For our $500 example, interest should cost you less than $25 a year!) Payments will be made on time and without any worry! You may need to add just enough money to cover the interest on the loan. One of the best features of this program is that if you ever need your $500 for an emergency, simply have the loan completely paid off with the remaining loan funds in the savings and your initial deposit will be released... With no additional debt!

Rebuild Your Credit... Using Your Savings!
Try to find a credit union that reports to ALL three major credit bureaus... Equifax, Experian and TransUnion. You can use multiple credit unions if you need to... Just make sure that at least 2 bureaus get reported to or you are wasting your time. (2 scores will bring up the middle score!)

Add to the mix the right credit card with a low balance and great payment history, then you will be on your way to higher scores!

Ed Nailor is a loan officer with Atlantic Equity Mortgage in Charlotte, NC as well as webmaster and website designer. His latest website is http://www.BestNewCreditCards.com and offers information on all types of credit cards. For those seeking to rebuild credit, check out http://www.BestNewCreditCards.com/poor-credit-cards.htm for the best credit cards for bad credit. For more information on financing options for North Carolina properties, visit his website at http://www.droprent.com.

Risk of Paying Credit Cards Late - Is Cash Advance Online Better Than Late Fees?

While it is considered fashionable to be fifteen minutes late in some circles, your creditor enclave is not one of them. Late credit card payments are not only faux pas, they are costly to you! In recent months credit cards have increased their interest rates and decreased their grace period. If credit cards go un-managed, with bills not paid on time, the amount owed will swell and continue to swell until it is paid off in full. Fifteen minutes late can lead to penalties of hundreds of dollars. Stop the debilitating cycle of debt before it begins by reading more about the importance of on time payments.

It cannot be emphasized enough how important it is to pay your credit card bill on time. This will ensure you avoid getting hit with extra charges that all credit card companies like to levy the second your payment is deemed late.

Paying your credit card bills on time will keep your credit report in good standing as well. Credit card companies send a report containing the details of your payment history to the credit bureaus. The three credit reporting bureaus (TransUnion, Equifax and Experian) report your credit history information to other creditors (auto loans, home loans etc.) who use it to determine your level of risk. If you pay your bills late or miss a payment your lenders may see you as more of a risk, making it more difficult to qualify for financing down the road.

Check out the following scenario: If you owe 1000 dollars on a credit card and don't make a payment on time, you will get charged a late fee of anywhere from 20 to 35 dollars depending on your creditor. So if your minimum payment is only 15 dollars, now you have to pay upwards of 45 dollars with only a minuscule amount being applied to the actual balance.

If you happen to go over your credit limit, you will end up paying an additional penalty, usually 25 dollars or more plus the financing charge as well. So when all is said and done, you are paying about 50 dollars or more in fees plus the 15 dollar minimum payment. Prolong these habits and you prevent yourself from paying down your balance while the creditor continues to reap in the extra money.

Late and missed credit card payments can often lead to not making a payment at all. If this occurs, it is quite possible that the credit card company will close your account and send you to collections for the total amount. The amount owed will continue to accrue interest and late payment fees until it is paid off in full.

In the event you do not respond to collections at all there is a chance your creditor will take you to court to get the money back and many go so far as to garnish your paycheck for the amount until it is paid off. If you run into this, you can be assured that your credit report will reflect as such and the next time you go to apply for another credit card or try to get a loan for something else, you will not be able to.

In order to avoid extra costs and bad credit ratings, it is very important that you pay all your credit card bills on time. If you are having difficulty with this, it is important to contact your credit card company and see if there are ways to offset penalty fees and other charges. Sometimes just opening up the lines of communication can help get you back on track of good payment history.

If you are still in need of financial help, there are options like cash advance online or payday loans that can put cash in hand today to help pay bills and avoid late fees. However, these options have risks of their own and should be looked into thoroughly before using. Each case is different and a person should weigh all of their options before making a financial decision. The best way to avoid the situations described in this article is to try to and avoid using credit cards altogether unless you can pay them off on a monthly basis.

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Capital One Credit Cards

In a BusinessWeek article titled, “Cap One’s Credit Trap,” writer Robert Berner explores how Capital One profits by lending to subprime borrowers and cashing in on high late and over the limit fees. His findings provide a disturbing insight into Capital One’s credit card business, and that of the credit card business as a whole.

Capital One credit cards aren’t as funny as their television commercials make them appear. In fact, their no hassle rewards program seems ironically titled given the hassles Capital One credit cards caused one family. Over the course of four years, this family received seven Capital One credit cards with credit limits ranging from $200 to $700. With such low limits, it is easy to see how a very simple mistake could trigger an over the limit fee.

For example, assume you’ve got a credit card with a $200 limit. You start by spending $140 on groceries and another $40 for a tank of gas. A few weeks later, you pull up at the gas station and fill your tank with $22 in gas. You’re now over the limit and the recipient of a $25 or higher late fee. Ouch. Now imagine doing that seven times. For the family mentioned in BusinessWeek, that is exactly what happened. With their balances mounting from over the limit fees, they became unable to keep up with payments. At one point, this couple was paying over the limit fees and late fees amounting to over $400 a month! This was more than the limits on many of their cards.

While Capital One credit cards were singled out in Berner’s article, many other credit card companies engage in similar practices. As consumers, it is important to know as much as possible about the Terms and Conditions linked to our credit cards. For those with marginal credit, just getting a credit card can be an important step in improving credit scores. But with low limit credit cards, the chances of going over the limit and getting hit with high fees increases tremendously.

Ultimately, it is our responsibility to manage our credit wisely. Otherwise, credit card issuers will not hesitate to take as much money out of your wallet as possible.

For more information on credit card applications and offers, visit http://www.SmartCreditChoices.com. At SmartCreditChoices, you can compare credit cards and apply online for approval. Additionally, you can learn more about using credit cards wisely and avoiding credit card traps by visiting our Education Center, which features a wide range of credit card articles.