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Bad Credit folks helped by New FICO
(NextGen FICO Scores) New FICO Score eases bad credit repair as FICO Corp. 'relaxes' scoring model. Bad credit folks who sign up for Credit Counseling or Debt Consolidation plan hear this a lot: "your Beacon score is too low...", "you must improve...
Credit Card Debt And The Interest Only Loan
Here is an example of the system gone wrong: a mortgage loan
that encourages paying off one debt, in order to over extend
yourself with another debt. This is what happens with the
interest only loan and credit card debt. As a borrowing nation,
I...
Credit Card Dirty Tricks
There are many of us that have been badly stung by credit card companies that have charged exorbitant fees to use their credit cards. Several years ago an APR of 25% to 29% was common place which in simple terms means that if you borrow £1,000 your...
How to read a TransUnion Credit Report
The Fair Credit Reporting Act (FCRA) requires each of the Nationwide Consumer Reporting organizations (Equifax, TransUnion and Experian) to provide you with one free credit report every 12 months per your request. This means that you are entitled to...
Need to Repair your Credit? 5 easy steps
Five Easy Steps to Repairing Your Credit
Have you damaged your credit rating, and now need to repair it?
It can be a long, tedious process, if you aren't sure of exactly
what to do. And if you decide to work with an agency that
specializes...
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Common Credit Card Terms and What They Mean
When shopping around for a credit card, it is very important to
understand the terms and fees that each card offers in order to
make an informed decision regarding the best credit card for
you. Because these terms affect your overall cost, it is
important to compare the terms and fees of various cards before
opening an account.
Annual Fees
These are the annual membership fees, or participation fees
charged by some card issuers. They can range from $25 up to
several hundred dollars.
Annual Percentage Rate (APR)
The annual percentage rate, or APR is the cost of credit as a
yearly rate. By law, this rate must be disclosed to all
applicants of a credit card. This rate is often variable,
meaning that it can be raised or lowered depending upon the
performance of the index, or econonmic indicator, that it is
linked to.
Balance Transfer
This is the process of transfering an unpaid credit card balance
from one card to another. Often the card receiving the balance
will charge the card holder a balance transfer fee.
Cash Back
Some credit cards offer cash back incentives to the card holder.
These offers usually mean you will receive some percentage of
the total amount charged to the card monthly, quarterly, or
annually. This
percentage may be paid to you by check or may be
reflected on your account as a credit.
Grace Period
This is the period of time offered by some cards that allows the
card holder to pay the balance in full without accruing any
interest charges. If your card does not offer a grace period,
then you may be paying finance charges from the date the card is
used.
Introductory Rate
Credit cards often offer special "introductory rates" to new
card holders. These rates may be as low as 0% for a specified
period of time. After the introductory period ends, the annual
percentage rate will increase to the cards regular ongoing rate.
It is important to know what this rate is as well as how long
the introductory period lasts prior to applying for one of these
cards.
Transaction fees
Some credit cards will charge additional fees for transactions
such as cash advances or balance transfers. Late fees may also
be applied when a payment is received after the due date.
About the author:
Karyn Kudrna is owner of websites that offer information on low interest credit cards
and credit cards for bad
credit and payday
loans
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| Credit Reports - Credit Cards - Car Loans - Home Loans - Credit.com |
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| Springboard - Non-Profit Consumer Credit Management |
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| National Credit Union Administration - Home Page |
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| Credit - Wikipedia, the free encyclopedia |
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| en.wikipedia.org |
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| FreeCreditReport.com | Free Credit Report and Credit Score Online ... |
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| The Credit Card Prank |
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| Credit magazine, corporate bonds, derivatives, structured credit ... |
| Credit magazine provides information on the international credit markets for credit investors, issuers and market professionals. |
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| CUNA: The Credit Union National Association |
| News and resource directory about credit unions. |
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| Credit/Debt Management - Tools and Advice for Managing Credit and Debt |
| Drowning in debt? Trying to improve your credit score? This is the place for you. Get real world information and tips, as well as the legal low down, ... |
| credit.about.com |
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