Archive for the ‘credit’ Category
Maxed Out: Hard Times, Easy Credit and the Era of Predatory Lenders
‘Maxed Out: Hard Times, Easy Credit and the Era of Predatory Lenders’ is a documentary and accompanying book released by American director and author James Scurlock and is a stark reminder of the ubiquity of credit cards.
Released to critical acclaim in 2006, the film consists of a string of vignettes about people who have taken on too much debt, as well as interviews with Harvard professors, debt collectors and other authorities to show how too many people have developed a buy-now, pay-later mentality, while credit card companies are only too happy to provide them with credit cards.
For example, Scurlock interviews the mothers of two teenagers who through their first year of college accumulated enough debt Read the rest of this entry »
No CommentsWhy Credit is Good
Because credit is something that is so important, but also sometimes confusing, we are going to lay everything out for you, in simple terms.
We’ll also show you how to get the credit you deserve, how to make the most of your credit, and ways to improve your overall credit rating, no matter where it is now.
For years, the conventional financial wisdom was “credit cards are bad.” We were told that cutting up our credit cards was the only way to free ourselves from debt-ridden indentured servitude. People needed to “live within their means,” and if credit cards were ever to be used, it should be “only in the case of an emergency.”
This conventional “wisdom” turned out Read the rest of this entry »
No CommentsCash is Always Better Than Credit Cards
Pay with cash, avoid credit card use, live within your means and sidestep bad credit. Easier said than done? Not really.
Americans just need to get in the habit of resisting the lure of high-interest credit card debt, a leading source of bad credit problems in the United States.
The Real Cost Of Credit Card Use
Advertising fuels Americans’ affinity with credit cards. Outstanding credit card debt in the United States is more than $750 billion, with nearly 700 million credit cards in circulation. Credit card companies feast on this credit market, blanketing the airwaves with commercials highlighting side deals on airline frequent flier miles and other perks.
Read the rest of this entry »
Are you Ready for the January Sales?
The New Year is a very exciting time for many people – a chance to put those resolutions into practise, a chance to start afresh and look forward – and a chance to hit the shops and enjoy the bargains that can be found in the January sales! When January comes around many of us flock to the shopping centres and stores to save huge amounts of money on everything from furniture and home goods to clothes and more.
If you are looking forward to getting some retail therapy in the January sales, and plan to put your purchases on the plastic, now is the time to start looking for the right credit card. At this time of Read the rest of this entry »
No CommentsEasy Technique to Qualify for Start-up Heavy Equipment Lease-financing
The new business owner needs a vital piece of equipment such as truck, a trailer, a backhoe, a grader, an excavator, etc., etc, but discovers that they cannot qualify for the financing.
Even though the new business owner has jobs lined up or contracts in place that will generate revenue to make the payments, that new business owner gets denied financing.
This dilemma is not necessarily limited to the start-up business owner either. Established construction businesses are discovering that their bank or finance company is declining to make that all important loan. The reason? The recent impact of the residential sub-prime loan chaos has migrated to the business community. Banks are tightening up on the Read the rest of this entry »
No Comments5 Essential Credit Card Rules You Need to Know
Whether you’re a seasoned credit card pro or someone who’s new to the world of plastic, there are five rules you’d do well to remember. After all, credit cards can make or break your credit rating. You don’t want it to be the latter. With that in mind, here are five credit card rules to live by…
1. On Time Every Time
Think one late payment won’t hurt? Think paying a day late can’t harm your credit card situation? Think again. One late payment and your credit card company can hit you with the “universal default” rate (usually about 30 percent) instead of the great rate you signed up for.
Even if you don’t get hit with Read the rest of this entry »
No CommentsHow to Turn your Credit Cards Into a Powerful Wealth Tool?
A lot of us know that credit card use may lead you to bankruptcy, but how to turn this wealth destroyer into a wealth tool is something worth investing time and effort to learn and practice. So you can leverage on this plastic card and turn it into a wealth tool.
Here are some powerful tips to turn this little plastic a powerful wealth tool for you:
1. Choose Your Best Credit Card
Not all credit cards are created equal. There is a particular credit card that will suit your needs. So when you apply for credit card(s), make sure you ask for their features such as the interest rate (APR), annual fee and reward system. Read the rest of this entry »
No CommentsCredit Card Grace Periods – Part 1
Credit cards have a time period in which you can pay off your balance without being charged interest. This is called a grace period. The grace period on most cards is 25 days, while other cards have shorter grace periods. Pay attention to your grace period to avoid penalties, fees, and higher APR.
Some cards offer low interest rates, but have annual charges. Others have no annual charges, no fees for cash advances, yearly account summaries, purchase security, insurance protection plans, a 25-day grace period, credit up to £35 000 and fixed rates as low as 9.9%. This is one of the better deals to be found, and you can apply for these cards on a secure site. Other Read the rest of this entry »
No CommentsNine Key Credit Factors that Could be Damaging Your Credit Score Right Now
Do you know the main credit factors that affect your FICO credit score? If you don’t know these nine key factors, you could be unintentionally damaging your credit score and chances at better financing terms.
Before discussing the Credit Scoring Factors, please keep one thing in mind: do not make any major changes to your credit before discussing it with your loan officer and chart the proper course. Many borrowers shoot themselves in the foot by doing something to their credit that could have been prevented.
Credit Factor #1
Maxing out your credit cards is credit score suicide. Your scores will suffer once your total balance is above 30% of your available credit line and really Read the rest of this entry »
No CommentsSearching for a Longer Balance Transfer Period
If you’re a credit card user, it’s likely that you’ll be looking for ways to reduce your monthly repayments and consolidate your credit card debt. After all, with the spiralling levels of consumer debt in Britain and the wide choice available in the credit card market, you’ll certainly be interested in saving as much money as you can by reducing your monthly credit repayments as much as possible. So, when you’re thinking about switching credit cards, make sure to keep in mind that a long balance transfer period can hold numerous benefits.
Essentially, a credit card balance transfer involves you moving your debt from one credit card to another. Many credit card companies offer an interest free period Read the rest of this entry »
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