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A Consumer's Guide to Getting a Bad Credit Loan
Here is a useful guide to getting a bad credit loan. If you're like countless others, then you may be struggling to get a bad credit loan. You may not know where to turn, or what options are available… or even what “bad credit” actually means or how...
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The Advantages of Accepting Credit Cards Online
According to marketingtips.com, some of the advantages of
accepting credit cards online include: 1. 87% of Internet
customers pay by credit card. That's why accepting credit cards
online is proven to boost orders by nearly 400%. 2....
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Credit Card Consolidation
It is not uncommon for families or individuals to find
themselves in the midst of credit card debt. Many people wonder
if credit card debt consolidation is for them. What is involved
in this process? Basically, a credit card balance transfer takes
place so that all your credit cards are consolidated into one
card. You receive one statement and deal with one company for
the full balance of all your cards. Several companies offer this
type of deal, and a Citi credit card is a good example.
Benefits:
Credit card debt consolidation can lower your monthly payments,
which is very appealing to those in need of tightening their
budgets. Combining all your credit card bills into one means
that you only pay one bill. If you were paying the minimum
balance of fifty dollars on three credit cards each month, you
were paying a total of one hundred and fifty dollars on credit
cards alone. The interest you were accumulating was at a high
rate, as well, extending the time you are required to make
payments and the total balance to be paid off.
But if you were to transfer the balance of all three cards onto
a new Citi credit card, you would combine the balances and
accumulated interest into one new balance. The Citi credit card
offers free interest on balance transfers for twelve months to
qualified card holders. So you will no longer be accumulating
interest on the unpaid balances, at least for the first year.
During this time, you can either pay only the minimum fifty
dollar (for example) monthly payment, saving yourself one
hundred dollars out of pocket each month, or you can continue
paying the one hundred and fifty dollars monthly to quickly
reduce your debt and avoid the interest that will arrive after
twelve months.
In addition,
with a credit card balance transfer, you will often
get a better interest rate. The basic Citi credit card offers an
interest rate of 10-12% after the first year on your balance
transfers. Both of these benefits add up to more cash for other
expenses.
Drawbacks:
The drawbacks to credit card balance transfer are worth
considering before you make a decision about your credit card
debt consolidation.
When you transfer your balances to a credit card with an
interest-free trial period of six months to a year, keep in mind
that the interest will go up after the trial period is up. So if
you haven't paid down your balance by then, get ready to
accumulate more interest and make more payments.
Also, most card companies will include in the terms of service
agreement a clause about default. Defaulting on your agreement
about the interest-free trial period can include making a late
payment, making a payment that doesn't go through, or going over
your line of credit. When you default during your trial period,
the interest-free part of the agreement is made null and void.
This means that you are no longer entitled to the free interest
on your credit card balance transfer. Most companies will assess
a very high interest rate after a customer defaults. The basic
Citi credit card comes with a default interest rate of about
30%. That is a huge portion of your balance and will cost you a
great deal of money.
About the author:
S.E. Kirk is the owner of SearchCardsToday.com
and CreditCard-Directoy.co
m. Kirk's sites provide consumers the ability to find &
apply for the best APR rate business and personal credit cards
online.
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| Credit Reports - Credit Cards - Car Loans - Home Loans - Credit.com |
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| Equifax Personal Solutions: Credit Reports, Credit Scores ... |
| National consumer credit reporting company that offers credit reports, FICO(R) credit scores and identity theft protection products to consumers and small ... |
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| The FTC's web site on Credit |
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| www.ftc.gov |
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| Federal Trade Commission - Consumer Credit Center |
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| AnnualCreditReport |
| Site set up by the big three credit reporting agencies in the United States, to furnish free annual credit reports, as required by federal law. |
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| Springboard - Non-Profit Consumer Credit Management |
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| Experian: Free Credit Report and Credit Score, Credit Check ... |
| Credit referencing and consumer targeting for the USA and other countries. |
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| National Credit Union Administration - Home Page |
| An independent federal agency that supervises and insures 7152 federal credit unions and insures 4240 state-chartered credit unions. |
| www.ncua.gov |
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| Credit - Wikipedia, the free encyclopedia |
| Debits and Credits, a type of bookkeeping entry; Credit (creative arts), acknowledging the ideas or ... Retrieved from "http://en.wikipedia.org/wiki/Credit" ... |
| en.wikipedia.org |
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| Credit (finance) - Wikipedia, the free encyclopedia |
| Any movement of financial capital is normally quite dependent on credit, ... Sometimes if a person has financial instability or difficulty, credit is not ... |
| en.wikipedia.org |
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| The National Foundation for Credit Counseling |
| DebtAdvice.org is a service provided by the Members of the National Foundation for Credit Counseling (NFCC), most of them known as Consumer Credit ... |
| www.nfcc.org |
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| FreeCreditReport.com | Free Credit Report and Credit Score Online ... |
| FreeCreditReport.com: Free credit reports and credit scores from Experian. Get your free credit report and credit score now. It's free, fast, and easy! |
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| The Credit Card Prank |
| In my lifetime, I have made nearly 15000 credit card transactions. ... Credit card signatures are a useless mechanism designed to make you feel safe, ... |
| www.zug.com |
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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. |
| www.cuna.org |
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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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