Reduce Your Debts With An Airline Credit Card
By · CommentsChristmas is over and after all the food is gone, the gifts have been opened and some returned, you are dreading receiving your January credit card statement. Yes it was a great holiday, but soon you would be reminded of just how good it was for the next twelve months. There is no way to avoid clearing your Christmas 2006 spend, but there are a few ways you can prepare better for Christmas 2007.
Airline Credit Cards
If you are looking for a way to earn rewards while you do your everyday shopping and bill paying activities then these credit cards would be beneficial to you. You can start off by consolidating your current credit card balances and transferring it to your new airline credit card. Most cards carry a 0% APR on all new balance transfers and purchases for the first 12 months. This would give you a chance to clear off some or all of your debts without having to pay any interest on the old or new purchases.
You should ensure your new card does not carry an annual fee as you may find yourself having to pay the money you saved on interest towards the annual fee at the end of the 12 month period. The reversionary APR is also important as you do not want to have a high increase in your monthly bill after the Christmas 2007 holiday, this could defeat the entire purpose of the balance transfer.
Look for cards with the highest bonus miles offering, and the best per dollar earning, some cards offer two miles per dollar spent while others offer one mile per dollar spent. The higher the per dollar earning the quicker you would rack up redeemable miles.
Throughout the year, you would not be able to avoid spending on necessities and with your airline credit card you would be able to earn miles or points that can be redeemed for Christmas gifts at the end of the year. This could prove to be a great savings that would ensure you do not end up with a huge credit card bill next January.
Based on the types of presents you would normally buy, match these with redeemable options available from your new airline credit card e.g. if you spend a lot on children at Christmas, make sure you can redeem your miles at stores such as Toys R Us, if you normally have to fly your child home from college, make sure you know how many miles you need to earn.
Miles can often be redeemed for gift certificates; you can use these as presents next Christmas as well. Be sure to look at all the partner merchants that you can earn miles with, because you can earn a lot more a lot faster this way. Airline companies partner with providers of wireless services, financial services and even movers, the possibilities are endless, you just need to find the best options to suit your needs. Once you earn and redeem your miles wisely, you could save on your Christmas bill at the end of the year.
Raise Your Credit Score Fast with Proven Insider Secrets
By · CommentsIf you want to increase your credit score from 580 to 650, you’ll need a different strategy than if you want to go from 670 to 725.
Also keep in mind that while removing negative items from your report will usually increase your score, it’s a basic concept at best. In this article, we’ll discuss “inside secrets” known by very few that will help you get your credit score where you want it.
Your Debt-to-Credit Ratio
For years I’ve been hearing the same thing from people who listen to credit card services: “I pay off my balance on my business credit card every month, so I have excellent credit,” or “My personal credit card has no balance – I’m in great shape.” These mistaken beliefs immediately change when you know the facts.
Your debt-to-credit ratio compares your amount of debt to total available credit extended to you (through revolving accounts only). For example, let’s say you have $10,000 in total unsecured revolving credit accounts with a debt of $2,500. Your debt-to-credit ratio is 25 percent.
Lenders make money through interest, not annual fees, so a key element of the credit scoring model is based on your maintaining balances and paying over time. This shows lenders your true long-term credit-worthiness. If you pay off your card every month, the best credit repair services in the world will not help you, because this is not how you build good credit.
Over the years we’ve discovered the best way to build credit-worthiness and repair bad credit is to carry the proper debt-to-credit ratio. It boosts your score much more quickly than paying off your cards each month. I have argued this fact with the Better Business Bureau, and they still disagree, despite my having sent them proof from Fair Isaac, the organization that invented the credit scoring software used by credit bureaus.
So how do you use debt-to-credit ratio to lower your credit score? If you have $10,000 in unsecured revolving accounts with a debt of $8,500, how do you bring your score down without selling everything you own? The answer is amazingly simple.
Sub-prime Merchandise Cards – the cards that actually work for you
Sub-prime merchandise cards are the most cost-effective and powerful tools to increase your credit limit and decrease your debt-to-credit ratio. Like with “traditional” credit cards, these versatile cards report to one or more of the major credit bureaus each month.
A sub-prime merchandise card account is simply a line of credit that allows you to buy merchandise from a specific vendor, usually the company that sold you the card. In most cases, you’ll purchase the merchandise through a catalog or online mall.
Virtually anyone can be approved for $5,000 to $10,000 in credit attached to a sub-prime card with NO credit check and NO cosigner. The difference between a sub-prime account and a typical credit account is that the card is good only for merchandise through the issuing company’s website or catalogs, and the consumer is required to pay a deposit on whatever they purchase. After the deposit is paid, the remaining balance is financed on the card.
Maybe you’re thinking it sounds like a scam. If so, you’re missing the point. Big time.
Four Instant Benefits
With a legitimate sub-prime merchandise card, your credit line WILL be reported to one or more of the major credit bureaus. This means if you get a $7,500 card and you finance $500, on your credit report it will look like any other credit card and will do four extremely important things for you.
1. It will immediately increase your current high credit limit by $7,500, because it “looks” like any other unsecured revolving account.
2. It will immediately improve your debt-to-credit ratio.
3. By carrying a small outstanding balance, it will positively impact your credit report by building credit and showing potential lenders your credit-worthiness.
4. With a good payment history, you’re virtually guaranteed to receive “legitimate” pre-approved credit offers in the future.
This technique can’t be beat for both cost and effectiveness. The key is knowing which cards report to the credit bureau and offer a zero-percent interest rate.
In the world of credit repair services, a lot of companies promise to help but can end up costing you more than their help is worth. With a sub-prime merchandise card, you’re in control of restoring your credit-worthiness.
You can improve your debt-to-credit ratio and increase your credit limit, starting today. Look for the best credit cards to help you raise your credit score and get back on the right track.
Rebuild your Credit History With Prepaid Credit Cards
By · CommentsSo you’ve had some debt problems – maybe due to something outside your control such as a divorce. Now you’re getting your life back on track, but there’s a problem. Because of your bad credit record, no-one wants to lend you money any more.
Well, don’t despair! With prepaid credit cards, no credit checks will be made against your name when you apply. As long as your age, residence and social security number check out, approval is normally guaranteed.
Here’s how prepaid credit cards work. You apply just like any other credit card, but with prepaid credit cards you also deposit a sum of money in a linked bank account. Initially at least, the amount of money in this account then becomes your credit line.
Obviously this means that, to start with anyway, you can’t use a prepaid credit card to borrow money. However, the best cards report to the three main credit reference agencies (Experian, Equifax and TransUnion) every month. As long as you use your card responsibly, your actions will help to repair your credit record, or indeed to establish one for yourself if you haven’t had credit before.
Within a few months, if you have shown that you can use your card responsibly, you are likely to be offered a bigger credit line by your card issuer. With your ever-improving credit history, you may also be able to apply successfully for a standard credit card or other forms of credit, such as a bank loan.
Your prepaid card can be used just like any other credit card to buy things, whether on-line, over the phone or in person. There is nothing on the card to reveal that it is prepaid. The only people who will know this are you and your card issuer. So if you need to buy things using a credit card and can’t otherwise get one, a prepaid credit card could be the ideal solution for you. And all the while you will be rebuilding your credit history as well!
One drawback with prepaid credit cards is that, unlike ordinary credit cards, you may be asked to pay a processing fee when you apply. This is in addition to the money you will have to deposit with the issuer as security. If you regard this as a stepping stone to establishing a good credit record, however, this one-off fee is literally a small price to pay.
Prepaid credit cards are available from a growing number of issuers. One example is the New Millennium Bank, which offers a prepaid Platinum Visa® or Mastercard®. As well as the benefits mentioned above, the NMB card offers $100,000 travel accident insurance, extended warranty protection, and a special high introductory savings rate on your deposit.
As with all credit cards, however, it is important to shop around and not simply apply for the first prepaid card you see. Different cards offer different combinations of terms and conditions, and the best card for one person may not be the same as for his or her neighbor. Credit card comparison sites such as http://www.finest-credit-cards.com make this easier for you by listing all the best current credit card offers, and also have a range of articles offering independent advice and information.
Pets are more like family members to people who are too affectionate towards animals. Particularly, some of them love their pets as if they are their own children and take much care of them.
Imagine if you had a credit card, which could get you as well as your family pet excellent rewards. Well, the credit card from Bank of America – Pet Rewards Visa is the card for you and your pet. Using this credit card, you can earn rewards and points for your pet.
This Pet Rewards Visa Credit Card issued by FIA Card Services, N.A., is supposed to suit only those of you possessing very good credit and would love to earn points for pet-related expenses.
Benefits From Rewards Program
Now, you must be eager to know about the rewards that will benefit you and your pet, should you opt for the Bank of America – Pet Rewards Visa card. So, have a look at the highlights of the rewards program.
* To begin with, the Pet Rewards Visa Card, allows you two points for every dollar you spend on qualifying purchases at pet food retailers, specialty stores, farm stores, feed stores, or even veterinarian clinics. You can also redeem points for pet-food discount certificates, veterinary services and shelter donations.
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* You will be receiving 500 bonus points on your first qualifying purchase.
* The rewards program is designed specifically so that you can redeem your points comfortably. (The rewards begin at only 750 points and you can spend them at your own will and pace).
* There is an annual limit to the amount of points you can earn and the amount stands at 100000 points.
Basics Of The Card
Bank of America – Pet Rewards Visa credit card has well-structured elementary features the particulars of which you can find below:
* This card from Bank of America has an appealing and affordable annual fee.
* Your purchases, cash advance checks and balance transfers are possible at 0% introductory rate for the first six billing cycles.
* After the expiration of the introductory phase, the APR still remains relatively low and is applicable on your purchases as well as balance transfers.
Added Advantages
The Pet Rewards Visa Credit Card is popular for the numerous benefits it provides to its customers. You would love to reap the added benefits offered by the card, which include:
* The unique feature of the card is that it allows you to choose the favorite photo of your pet, which you would prefer to place on their card. Added to this, you also have a variety of designs to choose from.
* Bank of America has wide reach giving you cash access at more than 380000 ATMs.
* You can make your purchases confidently as you have the Total Security Protection Package including Zero Liability for unauthorized card use and fraud monitoring to protect you.
* The card also provides auto rental insurance for damage or collision.
* Whenever you are in an emergency, the card lends you
What’s The Best Credit Card For Me?
By · CommentsSo, you have decided you need a credit card. However, you must remember that not all credit cards are created equally. Your friend’s credit card doesn’t mean that it is also the best for you. Before going to this bank and get its credit card, you must consider the several factors that you should take into consideration when deciding which credit card you want to get.
Some of those factors include:
- Interest rate. When you are the type of person that pays off your balance monthly, you would probably disregard the interest rate. Unfortunately, most people are having problems keeping with their credit card balance. Most people do carry a balance in their credit cards. If you sometimes late paying and carrying a balance, then it would be the best decision to have a credit card with a low interest rate. Having a card with a low interest rate save you a lot of money. You might disregard the difference between a 10 percent and 20 percent interest rate, but the difference could be significant if you have balances for a long period of time. Major credit card companies like Visa, MasterCard, Discover, and AMEX, have low interest versions of their credit card.
- Reward programs. Visa, MasterCard, Discover, or American Express and other major credit card companies have reward programs. Reward programs give you special privileges or services for being a credit card holder. Some of these programs include frequent flyer programs, where you are given one frequent flyer mile for each dollar spent. If you are quite a traveler, then a credit card with this program might be for you. Some offer cash-back options. Most common are discount offerings at retail stores or online chains.
- Annual fees. The annual fee is an important consideration, especially those who have a hard time paying off their balances monthly. If you think that the annual fee you have to pay to keep your card is way too high compared with the privileges you get from your card, it would be probably better to stop using the card.
- Member benefits. Credit cards promise various benefits. Some have travel protection as part of the benefits, while others offer roadside assistance. You have to consider your lifestyle in checking out a card’s benefits.
Remember: On choosing credit cards, choose wisely. If you need to, discuss your specific financial needs with your financial advisor.