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Stock Market Review

Posted by on Sep 5, 2014 in investnent | Comments Off on Stock Market Review

Stock Market Review

The great Wall Street Crash just previous to the Great Depression of the 1930s has become a part of North American legend. People speak of the crash, its causes and its consequences, with great authority, although few people actually understand the fundamentals that led to the crash, and fewer still the intricacies involved in it. This article will detail a short review of the crash, analyze some of the myths evolving out of this period in American history, and also answer some questions such as why the crash happened, and if something like it could happen again. The crash began on October 24, 1929 and the slide continued for three business days, ending on October 29 1929 (as we can see, the crash did not occur in the ’30s, as many people believe). The first day of the crash is known as Black Thursday, and the last day is called Black Tuesday. The crash began when a rush of nervous spenders panicked and rushed to sell their shares- over 13 million stocks were sold on that first Thursday. In an attempt to halt the slide, several bankers and businessmen gathered and tried to rally the numbers by buying up blue-chip stocks, a tactic that had worked in 1909. This was to prove only a temporary fix, however. Over the weekend, while the stock markets were closed, the media added to the fear of investors as the published the wrap ups to the week. By Monday, a fearful populace, nerves on edge due to the reports, were waiting to liquidate. Again, industrial giants and other businesses tried to halt the panic by demonstrating their faith in the system by buying more stock, but t As with any legend, the Wall Street Crash of 1929 carries with it several mythical misconceptions. To start with, the Crash did not lead to the Great Depression. In fact, many financial analysts and historians are still not sure to what degree the Crash even contributed. The economic forecasts were poor before Wall Street fell, and it was poor people who could not even afford to think about stocks that were the most affected by the Depression. For these people, poverty was mostly caused by very poor farming conditions. There was also not the onslaught of suicides that is commonly referred to- a few investors did succumb to depression, but their numbers are generally agreed to have been very small indeed- enough to count on one hand. What was it that caused this Crash? Because the market had been doing so well, many Americans were investing– many more, in fact, than could afford it. These people were investing on speculation. This means that they were buying stocks with an eye to selling them in the future for a higher profit, and to achieve the capital to invest they borrowed from banks. When prices began to drop, people realized they would not be able to pay their debt, let alone make any money,. They rushed to get out as soon as possible. To prevent panics such as this in the future, buying on speculation is now...

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Bad Credit Credit Cards Info & Resources

Posted by on Aug 29, 2014 in bad credit loans | Comments Off on Bad Credit Credit Cards Info & Resources

Bad Credit Credit Cards Info & Resources

Bad Credit Credit Cards Info & Resources Most of you get offers for credit cards, that sound like this, re-establish credit with pre-approved credit cards, regardless of credit history, some with low introductory rates and other perks. The following are important terms to consider that generally should be disclosed in applications or in solicitations for credit that require no application. Ask about these terms when you’re looking for a card. Annual Percentage Rate. The APR is a measure of the cost of credit, expressed as a yearly rate. It also needs to be disclosed before becoming obligated on the account and on account statements. The card issuer also must disclose the “periodic rate” the rate applied to your outstanding balance to figure the charge for each billing period. Some cards allow the issuer to change the APR when interest rates or other indicators called indexes change. Because the rate change is linked to the index’s performance, these plans are called “variable rate” programs. Rate changes raise or lower the finance charge on the account. If you’re considering a variable rate pre-approved card the issuer needs to provide various information that discloses: that the rate may change; and how the rate is determined – which index is used and what additional amount, the “margin,” is added to determine the new rate. At the latest, you also must receive information, before you become obligated on the account, about any limitations on how much and how often the rate may change. Free Period. Also called a “grace period,” a free period lets you avoid credit card finance charges by paying your balance in full before the due date. Most companies charge annual membership or participation fees. They often range from $25 to $50, sometimes up to $100; “gold” or “platinum” cards often charge up to $75 and sometimes up to several hundred dollars. Choice Credit gives many options. Some may include other costs. Some issuers charge a fee if the card is used to get a cash advance, make a late payment, or exceed a credit limit. Some charge a monthly fee whether or not you use the card. Choice Credit gives all the info needed to make a wise choice. If there is not a free period, it’s important to know what method is used to calculate the finance charge. This can make a big difference in how much of a finance charge will be payed – even if the APR and the buying patterns remain relatively...

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Business Credit Cards for a New Business

Posted by on Jan 15, 2014 in Business Credit Cards, Business line of Credit, Credit Card guide, Credit Cards, Secured Credit Cards | Comments Off on Business Credit Cards for a New Business

Business Credit Cards for a New Business

If you are new to the business world and are just trying to establish yourself, business credit cards are a must for you. There are several benefits which come with these cards and you need to really be alert when you make the selection for the business cards. With so many lenders available in the market there are great chances of one getting confused with the selection of the card appropriate for them. Business credit cards are there for some time in the market and with the demand being high for these cards , the credit card companies need to come up with new offers and discounts on them in order to attract the customers. The offers which are a lot popular these days are the cash back offers, higher credit limit and lower interest rates. So, if as a businessman you are looking for the new credit cards, you really need to do a lot of research and figure out your requirements well so as to make the correct selection for yourself. The kind of benefits which will suit you the most include these which can have a direct bearing on your profits and can help you alleviate them and take them to the new levels. Once you are sure of the kind of benefits you are looking for on the credit cards, it is time to look for the credit card companies. It is best to look for the banks and the companies which operate on the local level in the town. Businesses are prone to risks and there can be times when you will not be able to meet your credit card commitments. If you are dealing with the bigger banks and the companies chances are that dealing with your issues will find you land up with the customer care cell and you will just be treated as any other customer. However, if you are dealing with the smaller banks and the local credit unions you can directly talk to the bank officials and can find a more personalized approach to your problems. There are certain benefits of taking the credit cards from the bigger financial institutions and banks too. Since they have been in the business for a long time they would have definitely dealt with the various issues faced by the different customers and must have offered them the desired support. So if you face a problem with your state of affairs and you approach them there are great chances that you will get quick solution to your problems. Before you sign an agreement with the credit card company or the bank for the credit cards you are intending to take, try and talk to them with a clear idea of the business vision that you have. Not only will this step help you into taking the right decisions, it will also help you get the best of the credit cards available. Features of a Business Credit Card • Offers , discounts on the transactions related to purchases and most importantly insurance is offered on them which can be a great help to the businesses. • Credit limit: based on the business credentials and the potential of earnings, stability and the fundamentals, the credit limit is assigned to the cards which can be increased...

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Unsecured Credit Cards for Bad Credit: Knowing What Is Out There

Posted by on Jan 10, 2014 in 0% APR Credit Cards, Credit Cards for Bad Credit, Low Interest Credit Cards | Comments Off on Unsecured Credit Cards for Bad Credit: Knowing What Is Out There

Unsecured Credit Cards for Bad Credit: Knowing What Is Out There

Being trapped in bad credit is never a preferable situation and one should try and come out of this situation as early as possible. Getting credit cards can never be an easy take with bad credit because the lenders and the credit card companies do not have faith in the borrowers with a bad credit and will always like to avoid such decisions. Well, the current economic scenario has seen a lot of people face bad credit and the number seems to be rising. This has affected the credit card companies too. If they continue to maintain the criteria for the approvals as high credit score of the applicants, there is a lot of probability that they are rarely going to find people interested in taking the credit cards. Looking at this they have come up with the option of the unsecured credit cards specifically designed for the people with bad credit. One should remember that the credit card companies are in the business of profit making and this will only be attained if they increase their customer base and their customers use their cards to the maximum limits. So the more credit cards they issue higher are their profits. But the credit card companies are bound by the guidelines of operations set the US government and there are some which are of their own too. These companies are required to strictly follow their policies and the guidelines. So, anyone looking for the credit cards with bad credit need to check for the qualifying criteria as set by the companies. At times the applicants will be required to put in some effort to convince the lenders that the bad credit is your past and you are seriously working on improving your credit ratings. So after all this if you know that you will be approved the credit cards, it is time to take a look at the costs involved in keeping the credit cards and in using them as well. What one needs to check on is the kind of interest rates that are offered on the cards and the other offers associated with them. If the costs are really high , then it will be better to negotiate for the rates or leave the options completely. Unsecured Cards Explained With these cards becoming common and a majority of the applicants are looking for the bad credit  cards, it can be easily understood that the credit card issuers bear all the risk associated with these cards. Well this requires the card issuers to cover their risk in whatever ways possible. High interest rates and lower credit limits are one of the most popular ways and means adopted by the credit card companies to cover the risk they have taken. In normal cases the interest rate on the credit cards are between 8-14% but when it comes to the bad credit cards the interest rates can be as high as 15% 20%. If you look at the credit limits they can be as low as $10,000. All this indicates that if you were to use the credit card for any purpose you need to ascertain that the requirement is really important and you can repay the credit card dues well within the grace period. Avoiding High Card Costs When you...

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Student Loans With Bad Credit: Some Factors to Think About

Posted by on Jan 6, 2014 in bad credit loans, Student Loans | Comments Off on Student Loans With Bad Credit: Some Factors to Think About

Student Loans With Bad Credit: Some Factors to Think About

With the high education costs there are less chances that one can fuel the needs on their own without taking the help of the student loans. Students generally do not have a credit history of their own and with no fixed income they are less likely to convince the lenders that they can pay the money they take in the form of loans. Private lenders offer loans to the students at a high rate of interest as they find it difficult take the risks associated with the loans. Private lenders have often faced a lot of situations in the past where they have lost millions to the student loan defaults. With the worsening economic conditions, the chances of students securing a loan after they graduate has diminished. Companies are seen reducing their cost to meet the lower demand scenario and reduction in the job opportunities is one of the major activities adopted by the companies. The risk associated with the student loans in the prevailing conditions are extremely high and lenders are following strict guidelines when it comes to making lending decisions. Well, all is not bad because the government being aware of the situation has come out with the Federal loans which offer loans to the students irrespective of their no credit history and the backing which they normally fail to arrange. it is of great value if you have the requisite information about the kind of Federal loans available for the students. Not only does it help in your decision making but it also offers  you the knowledge of the different kinds of loans which are available to the students at affordable rates. However, these loans come with their own set of requirements which the students need to fulfill to be able to get these loans. One must gather all the information about the qualifying criteria for these loans. Advantages of Federal Loans Federal loans are the most sought after loans by the students to fund their education. These loans are easy to qualify , offer great interest rates and flexible payment terms which makes it the most attractive. Since these loans are specifically designed for the purpose the students need to look no further than them. There are different advantages associated with the loan which come a lot handy when it comes to making a decision for them. Since these loans are specifically designed for the students, they already take into account the fact that the students have no credit history of their own and hence they would not be able to offer documents which can confirm if that the borrowers i.e. the students have a surety of returning their no credit check loans. However, the real challenge is when you are not able to secure the Federal loans and are required to take the student loans from the private lenders. These loans in the first place become difficult to get and even if any of the lenders agree for the same they may ask for really high interest rates and cosigners and collaterals to secure their loan amount. Of all the different kinds of Federal loans the ones which seem to be the most popular ones are the Stafford loans and the Perkins loans. While both these loans are aimed at offering the best interest...

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Devising the method that can help improve your credit score

Posted by on Oct 1, 2013 in bad credit loans | Comments Off on Devising the method that can help improve your credit score

Devising the method that can help improve your credit score

Obtaining new credit if you have a low credit score is going to be tough. So it is extremely important for you to go on maintaining the credit score, so that your credit application doesn’t get denied. Whenever, you will be applying for new credit, you should check if your credit score is at its best. Therefore, if you find that your credit score is not too good, it would be better for you to work hard on improving it. So, how can you get back a good credit score? Tricks that can help increase the credit score The tricks which can always help you with the improvement of your credit score are: Lowering the amount charged on credit cards – You need to lower the amount charged on the credit cards. If you carry too high amounts on credit cards, it can have a negative effect on your credit score. It can help you not only in maintaining the credit score, but also to become debt free soon enough.   Maintaining fair lines of credit – Simply any one or single type of credit would not help you with improving the credit score. Maintaining different types of credit lines can actually help you with improving the credit score. For example, having some credit cards won’t be of much help for your credit score, even if you maintain low balance on these and even if you make the on-time payments. You need to obtain a mortgage, and other loan types.   Correcting all of the mistakes on credit reports – It is important for you to check the credit report from time to time. While checking the credit report, make sure that you go through it carefully. Most of the times, wrong debts get listed on the report, and this has a negative effect on your credit score. In order to see improvements in your credit score, it is important for you to dispute these listings with the credit bureaus.   Change address if you have relocated – If you have relocated to a new place, report this to the creditors and the credit bureau too. Otherwise, the letters from different creditors will never reach you, thereby making it hard for you to find out when you are supposed to make the payments. Therefore, your credit would be hurt too as the late or the missed payments are going to be listed on your credit reports. This again is going to lower the credit score.   Be aware of your rights as a consumer – A consumer has various rights and it is important for you to be aware of these. There are various rights for you as the consumer, which can help you in managing debts more easily. For example, you need to be aware of the FDCPA, the FCRA, the SOL and the debt verification along with the debt validation procedures. The collection agencies are supposed to follow the FDCPA or else, you can report them to the State Attorney General.   Try paying down the highest balance first – In case of the debt payments, you can try paying down the highest balance first. This is going to help you in becoming debt free soon, and to do away with the pressure of handling so much...

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Credit repair clinics: Do your research well before choosing any one

Posted by on Sep 30, 2013 in bad credit loans | Comments Off on Credit repair clinics: Do your research well before choosing any one

Credit repair clinics: Do your research well before choosing any one

You need to know your rights regarding credit repair well, if you want your credit file to be wiped clean of all negative items. Moreover, you should stay away from the credit repair clinics for that matter since, in reality, there’s nothing that you can’t do on your own to fix your credit. What is the function of CROA? CROA stands for the Credit Repair Organizations Act. This federal law governs all the for-profit credit repair clinics that operate in the country now. Here is what the law states: Credit repair clinics should provide you with a statement of your rights as a consumer under the Fair Credit Reporting Act in writing. Any credit repair clinic cannot ask for fees until they’ve delivered all the services as promised to you. Credit repair clinics should appropriately declare what they can and cannot do. You should receive a written contract from your credit repair clinic. You are allowed to terminate the deal within three business days of inking the agreement. Credit repair clinics that do not observe these rules as per the CROA, the requirements will then be considered as void and you cannot sign away the rights mentioned in it. What state protection do you enjoy There are some states that provide extra coverage to its people with respect to credit repair and credit repair clinics. Here are some of the additional rules that they follow along with the federal ones: Credit repair clinics must provide you with over three days to terminate the service deal. Credit repair clinics must deliver results within a certain time-frame. These clinics should inform you about other non-profit credit counseling agencies before you choose to work with them. What can do you in case of CROA’s violations? You can sue a credit repair clinic for violating the CROA. However, you’ll have to do that within 5 years from the date when the violation actually happened. A court may provide you with a compensation regarding the actual damages, attorney’s fees and press punitive charges on the alleged CROA violator. What online resources are available on credit repair? Here are some of the resources that you may use online to repair your credit: myFICO – You can obtain your credit report against the payment of a small fee. You can find out the factors that directly affect your credit rating and also find out the ways to boost as well as safeguard your credit score. There are a lot of information regarding credit cards, auto loans, mortgages, student loans and so on. The National Foundation for Credit Counseling (NFCC) – You’ll get information related to the credit counseling industry from NFCC’s website. Apart from that, you can go through its national directory to find out a member credit counseling agency of your state. These agencies are non-profit ones and have professionals who are trained by the NFCC with necessary certifications to work as credit counselors. These counselors provide pre-bankruptcy counseling too. The Federal Trade Commission (FTC) – The official website of FTC has got an online credit repair fact sheet that is meant to alert consumers like you in order to avoid becoming a victim of credit repair scams. Moreover, the sheet also discusses tips regarding do-it-yourself credit repair process. The Association of Independent Consumer Credit...

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Bad Credit Loans – How To Improve Your Credit Rating

Posted by on Jun 23, 2013 in bad credit loans, Business line of Credit, Business Loan, Small Business Loan, Unsecured Loans | Comments Off on Bad Credit Loans – How To Improve Your Credit Rating

Bad Credit Loans – How To Improve Your Credit Rating

Bad credit history can hamper your borrowing power. Defaulted repayments, missed installments, arrears will leave the black mark against your name when trying to secure credit. Even if you try with your own bankers they will not listen to you, if you have a bad credit score. No lender would give a hand of help by putting himself in danger. Even if you get some lender to lend you such loan, it will be on very high interest rate. After the global recession, it was noticed that most of the citizens had lost their credit score in some way or the other. It was seen that number of people having bad credit was more than having good credit.  There are few steps you need to check in order to improve your ratings. Firstly, make sure that all your debts are registered to your correct name and address. Ensure that there is no other person’s debt or payment included in your file. Get register on the electoral roll at your current address. Take loan whenever it is actually required and after making proper budget of your income and expenses, so that you not end up in a debt trap. Don’t make too many applications for credit in a rush, even for things you can afford to buy from your savings. Lenders will look into as desperation.  Apply for a credit for which you are actually eligible. Make research for lenders who can give you best deal through lowest interest rate. Make search for lower interest rate and not for credit search. Show lenders you are responsible borrower by borrowing and paying it back. It might mean taking a credit card debt with high interest rate. It means keeping only small amount and clearing the balance on time. You need to do it long way in order to regain you bad credit score. Close down any credit agreements you no longer use. If you find your interest rates are too high so go for lower interest direct debt consolidation loan. This loan will help you to manage single installment repayment with lowest interest rate and long tenure. This can help you to save money every month in your pocket. [addlink url=”http://buyfave.com/” text=”Online Business”] You can also take loans with no credit check at lower interest rate and use them to repay old debts. There are few things which lenders like on application forms such as fixed landline number than mobile number, long term employment history, and long term living in one place, ideally owned rather than rented long term record with same bank. If a lender refuses you credit, it must say why. Under the Data Protection Act, if you are refused credit based on your credit score, you can as them for review your application. If you will review it will give you a chance to see where you need improving. Repairing your credit is a long term process and not a one day work, so you need to work on it at least for six...

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Gain financial freedom with credit card debt consolidation

Posted by on Jun 21, 2013 in Credit Cards for Bad Credit, Debt Consolidation, Debt Counselling | Comments Off on Gain financial freedom with credit card debt consolidation

Gain financial freedom with credit card debt consolidation

Most of the citizens of US are using credit card facilities for purchasing their daily requirements. Credit cards means of finance that helps people to spend more than their income. For this credit the company will charge some interest charges on every transaction. It has been noticed that credit card companies are charging higher rate of interest then even unsecured loan given by traditional banks. But still when sometimes our income gets short compared to your expenses you need some extra source of income, and at time credit card can help you in satisfying your requirements.  If you have more than one credit card and you find it difficult to manage their monthly repayments or not able to remember the different due dates for all payments then you can go for consolidating your debt. Debt consolidation entails you to take one loan and repay all others. This will give you financial freedom as you need to pay only one installment and manage only one debt. If you have any personal security to put into as collateral then you can get the consolidation loan at lower interest rate. The tenure of the consolidated loan is also long so that monthly installment becomes small and you can save something in your pocket after paying your debt.  This also helps you to save from the bankruptcy also as you can immediately repay your full loan as soon as you get your consolidated money. If you go for consolidating your debt you can be financially relaxed as you have to pay only small interest and through time you can maintain your credit at high. The other advantage of this is lender gives loans for bad credit also and so they will not check the credit history while funding the loan. This will help them who have arrears or missed any payment in their previous loan or have filed for bankruptcy anytime.  The financial burden is spread over many years and so by paying a small monthly installment you can regain your good credit score easily. Getting the loan is also a simple process and now the application can be made online also. If you will pay your installments regularly that will be informed by lender to the credit bureau and this will enhance your credit score. This is also a step towards getting out of debt trap, but once you consolidate your loan, you should not take any further loan and also you should not miss any installment payment. If you will miss the payment the loan tenure will go on increasing and you will have to pay extra interest charges. This will instead of decreasing your debt burden, increase it and you will end up paying more.  The online application is easy to understand and the process is also very short so you will get the approval within few hours as the process is not tedious as it is in traditional loan. After approval you can get the money transfer within 24 hours and you will be able to repay your credit card...

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Can a secured credit card help to repair credit and consolidate debt?

Posted by on Oct 9, 2012 in Credit Card guide, Debt Consolidation, Debt Counselling | Comments Off on Can a secured credit card help to repair credit and consolidate debt?

Can a secured credit card help to repair credit and consolidate debt?

Are you struggling to manage your multiple creditors? If yes, then credit card consolidation is a viable option to eliminate your financial woes. However, when you have bad credit, you may not get a new loan on favorable terms to consolidate your high interest debts. In this situation, a secured credit card can help you consolidate your debts. The interest on this card is affordable when compared with unsecured credit card. If you fail to make timely payments on consolidated debts, then you may further complicate your financial situation. How can you consolidate your debts with a secured credit card? When you have a blemished credit record you may not get a personal loan or an unsecured credit card to consolidate your debts. In this situation, a secured credit card is a viable option to consolidate debts. A secured credit card is a prepaid credit card; therefore you’re not required to undergo credit check. You need to provide a security deposit in order to get the equal credit limit on the card. So, the interest on a secured credit card is comparatively lower than other cards. You can transfer your balance to this new card in order to make the monthly payment affordable to pay off. How secured credit card helps you rebuild your credit report? The secured credit cards are useful for rebuilding your credit report and show the potential lenders your creditworthiness. You can significantly improve your credit rating when you make payments on time. Therefore, these positive behaviors are reported to the credit bureau by the secured credit card company, and help to repair your credit. If your credit limit is fairly strong, then your secured credit card may provide many of the same privileges offered by an unsecured credit card. Are you aware of the benefits of a secured credit card? Here are a few important advantages of a secured credit card: The amount you deposit in the account determines your credit boundary. Therefore, if you deposit high amount in the account, then your credit limit may also increase. The deposited money in the account may earn interest and it is compared to a normal savings account. As long as you can update your account you can hold the deposit. If you default on your payment, then the balance can be deducted from the amount you have deposited. Once you build your credit rating, it can help to increase your credit limit more than your deposit. You can also get back the deposit after a specific time-frame. When you use a secured credit card, you can manage to get security and get protection from the Fair Credit Reporting Act. Therefore, a secured credit card is an excellent option to consolidate your debts as well as repair your credit report. However, you need to determine the pros and cons of this card in order to secure your financial...

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