Benefits Of Low Introductory Rates

If you watch television or surf the net, it is likely that you have seen one of the many adverts for low introductory credit card rates. These low rates hope to entice you into getting one of these credit cards, and with such great rates on offer it is not surprising that many people look into them. Although these offers can have hidden dangers and charges, there are benefits to low introductory rates. If you want to know more about how to use the benefits of low introductory offers without the dangers then here is some information that can help.

Low APR offers

One of the most common introductory offers is to have a low APR on the credit card for a certain period. These low APRs can vary from around 5% all the way down to 0%, and can last from 3 months to a year. The benefit of having a low APR is that you will pay less interest on the credit that you use. If you can get a 0% APR offer then you are effectively getting your credit for free during the introductory period.

Using low APR offers

Low APR offers often come with hidden charges, such as high balance transfer fees or a much higher typical APR after the introductory period expires. If you want to get a low introductory APR rate, look at the list of other charges, as well as how much the APR will be after the introductory period has finished. The best way to use a low introductory rate is to spend on the credit when you have the low rate and then pay it back before the rate is finished. That way you can make a large purchase over a few months without having to pay any interest on it.

0% balance transfer rates

Another typical introductory rate is to offer 0% on balance transfers for a period of time. If this is coupled with a low APR, then you can use this card to transfer any existing debts you have in order to pay them off quickly. Of course, these cards also have hidden charges like fixed fees for balance transfers as well as high rates after the initial period. Use 0% balance transfer rates to help you to pay off debts more quickly.

Keeping that low rate

Although you might be offered a low rate for around 6 months or a year, this is dependent on you using the card properly. If you pay late or go over your credit limit, you could find your introductory rate is taken away and you are put onto the much higher regular rate. If you are getting a card simply for the low initial rate, make sure you pay on time; otherwise you could end up paying a lot more for your credit.

Switching cards

There are many people who use introductory rates to their advantage by continually switching from one card to another in order to keep their payments low. This can work well if you maintain your payments and spend wisely. However, switching cards can be a hassle, and it can reflect badly on your credit report if you are continually switching accounts. Try and keep some long-term accounts going, or find a card that has a good rate after the initial introductory period. However, if use low introductory offers correctly, you can save yourself a lot of money on credit card interest and bills.

All About Zero APR Credit Card Transfers

The advent of credit card services and low interest mortgage products have allowed people to make the purchases they need without spending too much time to save money so as to pay for such purchases. All people need to do now is to apply for a credit card service or a mortgage from a reputable financial institution so as to avail of such advantages.

But most people who have taken out credit card services and loans from such financial institutions have gone deeper in debt. This is because most people lack information on the most important aspects to consider before obtaining a credit card service or a mortgage scheme.

First, you should identify the interest rates of the mortgage you need. This will allow you to carefully compare the interest rates and payment schemes that are integrated on each mortgage package you intend to obtain. By doing this, you avoid the risk of getting deeper in debt because of high interest rates and thus more payments for your mortgages.

In terms of credit card services, most people miss the various credit repayment options that are available in the market. These people usually acquire credit card services with the lowest APR and interest rates. Some people even opt for a credit card service with the lowest annual percentage rates and a no fee interest scheme for specific credit purchases.

But most people should be informed about zero APR credit card transfers and similar schemes. This is because zero APR credit card transfers would provide these people with a means to cut back on the payments they have to make on the purchases they have already made on their credit cards.

First, a zero credit card transfer, as the name implies, is a scheme that allows credit card users to transfer the debts they have incurred from making purchases with their low APR credit cards to credit card services that integrate the zero APR credit card transfer feature. This means that people can now reduce their debts by transferring the unsettled credit payments they have gained from making purchases with their low APR credit cards to a new credit card service that integrates the zero credit card transfer scheme. This would evidently provide such people with fewer credit payments since the annual fees charge by their credit card companies for the debts they have incurred with their low APR credit cards will be transferred to a new credit card service that has the zero APR credit card transfer feature.

Another option for people with credit card debt problems is to make higher payments for the credit card debts they have incurred than the payment scheme provided by their credit card companies. This is because such a scheme would provide credit card holders to save money not only from transferring the debts they have incurred from making purchases with their low APR credit cards to zero APR credit card transfer options, but this would allow them to save a substantial amount of money from the interest rates integrated on such payments since paying a higher amount for the debts they have incurred would shorten the payment duration scheme and thus get rid of unnecessary interest rates to pile up on top of their debts.

Why Bankruptcy May Not Be Your Best Option

You are in a position of needing to consider bankruptcy based on your current financial situation. Hopefully you have learned some lessons along the way in getting to this point, like about how do strike deals, when to get statements in writing from partners or customers, how to plan more carefully for the needs of your company so that you do not grow too fast. Whatever the reason, you got to this point and are now considering filing for bankruptcy.

You need to be fully aware that filing bankruptcy should be your absolute LAST course of action, and only taken after you have thoroughly exhausted all other alternatives. There are probably more excellent reasons to NOT file bankruptcy than there are good ones. While bankruptcy may be your only viable option, you need to ensure that you have exhausted all other viable options first.

Be aware that filing bankruptcy is going to be a huge red flag on your credit report for the next 7 to 10 years. There is nothing you can do about it, and that red flag is going to cause you to be turned down for loans and financing, or if you do get approved, the interest rate that the lender will quote you because he is "taking a chance" on you is going to be astronomically high. That means that it is going to take you longer and will also cost you more to get back on your feet, so consider your options carefully.

One of your options would be a debt consolidation loan. Many people like to live on a champagne lifestyle even though they only have a beer budget, and sooner or later that decision is going to catch up with them. A debt consolidation loan can help. You need to take all your outstanding accounts, add them all up, and then determine how much you need to borrow to get them all paid off. Do NOT borrow more than you need, because that can potentially get you into an even deeper hole than the one you are in now. This approach has the advantage of just paying ONE loan payment at the end of the month, and although the interest rate on that loan may be higher than what you would like to see, it is probably less overall interest than if you were to pay each creditor separately, so you are actually saving money, as well as keeping your creditors happy.

The other positive aspect of a debt consolidation loan is that the total amount you are paying per month is probably going to be significantly less than if you made separate payments to each of your creditors every month. For example, say you are paying out $3000 if you paid each of your creditors individually, but after a debt consolidation loan, your total payment is now only $2000. That extra $1000 every month may give you enough breathing room to where you can hold on until things start to turn around for you, without filing for bankruptcy.

Another thing you need to do is to keep an eye on your credit report. You have been treading water financially for awhile, but there is no sense in allowing your credit report to make you look like you are in a worse position than you really are. Your credit report almost certainly contains errors, and you should visit Improve Your Credit Score to find out how to improve your credit score and win your disputes with the credit bureaus.

If you are having trouble managing credit, you should make an appointment with a credit counselor. These are usually non-profit organizations whose job it is to help you make better decisions about credit and to help you see a way out of your current situation. These organizations have helped thousands of people get on the right path, and they can help you also.

If you feel that you have exhausted all possibilities and bankruptcy is the only one left staring you in the face, be sure to do it the right way. At our site is a free form you can complete to get more information about bankruptcy from a bankruptcy lawyer who is local to you, and who knows your state's laws concerning bankruptcy. This is a huge step with a lot of complications, so it is not something you should want to do on your own without legal assistance.

Student Credit Cards

You've been thinking about getting a credit card ever since you ran out of money a few weeks ago and couldn't afford to put gas in your car. No gas no work. Luckily your parents were able to wire you some money and you didn't lose your job and were able to get to your college classes. You know that alls well that ends well but you absolutely hate asking your parents for money. The few times you've asked it has always come with a few comments about how maybe you aren't ready to live on your own and how they would be happy to have you move home.

If you only had a credit card you could avoid the hassle. And why shouldn't you? Some days it seems like you're the only student on campus that doesn't have one.

While you are daydreaming about how much easier your life would be if you only had that little piece of plastic that would open the world of financial freedom you can't help but think about some of your friends that have credit cards. And the mountains of unpaid credit card bills they have sitting on their kitchen counters. You think about the calls they are always avoiding, the headaches and stress they feel over the mountains of debt. When your thoughts start heading down that road asking your parents for a couple of bucks to cover miscellaneous expenses doesn't seem so bad.

Still having a credit card isn't a totally bad idea. Student credit cards are a good way to establish credit and help soften the times when you're the paycheck you've collected from your university job doesn't quite stretch to cover a few miscellaneous expenses.

If the times your paycheck doesn't stretch are few and far between a student credit card is probably not a bad idea, especially if you don't lust over fancy electronics and exotic spring breaks.

On the other hand if you are hitting your parents up for a no payback loan every week, you dream of owning the latest X-box and think that Hong Kong looks like the place to be, you might want to consider a second job rather then unlimited purchasing power.

One of the biggest advantages to a student credit card is that as long as it's used properly it's an excellent way to establish credit that can be later used to rent an apartment and purchase a car. The biggest disadvantage is the overwhelming number of students who graduate college with an insurmountable mountain of credit card debt. Many of them will probably never get out from under it.

If you feel that you absolutely must have a student credit card there are a few simple things to look for when selecting the best credit card?

Look for the lowest annual percentage rate.

If you're responsible it's not a bad idea to have a few cards. One for emergencies only. One for major purchases. One for convenience.
Look for a card with a lengthy grace period. The longer the grace period the longer you have to scrape together the available funding to pay the bill.
Don't forget to consider a secure credit card. This is a card that you pay a pre-determined amount of money that the credit card company holds in queue. This amount is your credit limit. Whenever you fail to make the monthly bill the credit card company simply takes the money from the available stash. This is a good way of establishing credit with minimal risk. Most cards will allow you to add to the amount of the deposit as you go.
Once you have the card it is not enough that you spend responsibly and pay your bill. Make sure that you handle your card with care. Don't leave your card lying around somewhere that it can be used by a person with a mind for a little bit of identity theft.

American Blue Express Credit Card Review

The 20th century is definitely the plastics era with every American having access to credit cards or what people refer to as pseudo cash. Even the whole world is catching up with the American way of life and is now using plastics to run world businesses. Credit cards are a very important part of modern life because of the prevalence with which they are being used in society. The world is veering towards becoming a cashless society that every person should make sure he has a credit card to pay for his daily needs.

A person who wants to get a credit card should choose the best credit card which would respond to his purchasing habits. One credit card that may be useful today is the American Blue Express. American Blue Express credit cards are similar to other credit cards because they can be used to pay for transactions instead of cash. However, unlike other credit cards, the American Blue Express credit card

One of the reasons why people are hesitant about getting credit cards is because of the required annual fees for the maintenance of the credit cards. A person who does not want to be saddled with annual credit card fees should try the American Blue Express credit card.

Aside from the no annual payment feature of the American Blue Express it also offers cash returns on selected purchases. Users of the American Blue Express also get protection for online credit card transactions. This card aims to correct the many misconceptions about the American Express credit cards one which is the belief that it is a credit card only for rich people or those who can afford the costs of maintaining a credit card.

Getting this card will also mean getting access to a lot of other cards offered by American Express. A person can get the other credit cards for the other members of his family. American Express caters to people of different style and preferences. There is a suitable card for everyone in the family and they can all come from American Express. The company also aims to target a niche market for credit cards particularly women and the younger segment of the society. The American Blue Express was created to the needs of the market.

There are a lot of perks and advantages from using American Blue Express including charge summary and access to credit information anytime seven days a week. This enables a card user to organize and keep track of his expenses and payables. The annual credit summary will also be very helpful for tax filing purposes. American Blue Express credit card holders should also check the latest special offers and bonus from selected merchants accepting the Blue card. But one feature that users will be glad to have is the fraud protection security offered by the Blue card that promises to take care of fraudulent charges against the user. Among the other features that may perhaps encourage people to get their America Blue Express credit card is the insurance coverage for car rentals. Immediate replacement for loss cards as well as the service Hotlines.

How Your Free Credit Score Affects You

Your free credit score is a 3-digit rating number that helps lenders predict what kind of credit risk you will be. Your score is computed from information contained in your credit reports, which are created by the 3 big credit bureaus. Scores range from 300 – 850, with the average being 700. You have the legal right to see your credit report annually (from all 3 bureaus) at no cost. However, you will typically have to pay to see your credit score, which is considered proprietary information.

Financial lenders believe there is a direct correlation between your score and your chance of defaulting on your credit responsibilities. So the higher your free credit score, the lower the risk of defaulting. High scores get the best loan terms; low scores the worst.

Your free credit score is based on over 80 factors and is computed based on the contents of your credit report at a given point in time. Credit scores are not fixed, but change with new information.

Factors Used to Determine Free Credit Scores:

* Your payment history

* Number of credit accounts you have

* Amount of credit used in comparison to your total credit limits

* Length of credit history

* Number of credit inquiries

* Bills sent to collections agencies

* Any legal judgments against you or bankruptcies

Knowing the reasons behind your particular score is as important as knowing the score. This knowledge lets you proactively manage your credit so you can get better loans at lower interest rates. If you want to get an idea of your total credit picture, request your free credit score at the same time you request your free credit report.

Improve Your Credit Score By Availing Bad Credit Loans

Nowadays, bad credit is commonly seen and it can happen to anyone. Bad credit generally happens due to leniency in making repayments of debt, making defaults, missing any repayment etc. An individual with poor credit score faces many hurdles while availing loan from the financial market. But, it is sure that they will face no problem while availing bad credit loans from the financial market. Bad credit loans are especially designed for meeting the financial needs of those individuals who are tagged with bad credit.

Bad credit loans are multipurpose loans which can be used to finance a car, wedding, holidaying, education, investing in business etc. In other words, there is no restriction on the usage of bad credit loans. Like other loans in the financial market, bad credit loans are also available in two forms: secured and unsecured. In order to know secured and unsecured bad credit loans in a better, let's discuss its features.

Features of secured bad credit loans are:

• The borrower is needed to place collateral against the loan amount.

• They carry low interest rate.

• They involve risk on asset, which only arises on the occasion of non-repayment of any installment.

Features of unsecured bad credit loans are:

• Unsecured bad credit loans involve no collateral. In other words, the borrower is not needed to place collateral against the loan amount.

• They also carry low interest rate which is higher than the rates being offered in secured bad credit loans.

• They involve no risk on asst as there is no collateral.

The borrower can choose any of the form of bad credit loans as per his needs and requirements.

Bad credit loans are getting popular in the financial market. The reason for its popularity is that it solves two purposes of the borrower that is; it provides financial assistance and improves credit score.

What Is Worse Than Having Bad Credit?

An Empty File

Having an empty file is not necessarily the worst situation, since bankruptcy could be even worse, but there is no information on the person's credit records and a lender who uses his common sense, will not risk lending the money solicited by a young, inexperienced person with no records. In the best of cases the lending agent will try to give some sound advice, but will more often than not, turn down the request.

There Are Exceptions, Though

The exceptions are lenders who will compensate the risk with a higher interest rate. So, considering the age of the prospective borrower, we must assume that his or her income is not necessarily important, making it very hard to keep up with payments.

There Is A Way

It does not mean cheating the system. It's just a wise use of the rules, obtaining as only benefit, a positive rating in your credit report and in a short time. Most banks will open a regular savings account to anyone over 18 years of age. If you have $400, you will be able to start sooner; otherwise just save as much as you can at a time, until you get to that amount.

Then, three days after you have reached the $400, ask the same bank for a short-term loan of $400. Any bank will give you that amount, if it is exactly what you have deposited in their bank. With your new $400, go to another bank and open a savings account and do the process all over again. Three days later ask for a loan of $400. Do the same for a third time and go home with your third loan of $400.

The Payments

After the first month, you will need to start paying the installments. Do so with the product of the last loan and as you pay the installments for the three loans, you will begin to free credit. This will enable you to obtain the necessary cash to pay for the other installments. Finally, you will have paid them all back, with a very low cost, since the fees and interest rate for such small loans are chicken-feed.

And Now, Your Credit Report

Request your credit report to any of the three credit bureaus and you will find the entries of your three loans and the prompt payments of all three, or more, if you have the patience and the time to do it in a coordinated way.

Now, The Big Bucks

Once you have your credit report with a perfect score, you can go for the big bucks. Well, there's no hurry, but I mean to say that the doors are open to a larger loan or line of credit to get you a decent beginning in life.

Even before you think of raising a family, you can start to tap into investments, financed with a loan and you will surely be better off than many others who have not cared to build themselves a good credit rating. Those, wait for the water to reach their necks and only then, start thinking about taking a loan to get by.