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Adverse Credit Secured Loans - Setting Aside the Credit Report.
The debt defaults that you made in the past are not ready to let go of you so easily. It continues to show itself in the credit file, earning the debtor an adverse credit history for the nest six years, sometimes even larger. A group of loan...
All You Wanted to Know of Bad Credit
Martin Henderson is in a fix these days. Because of his failure to repay a loan he had taken a few years back, he has been adjudged as a bad credit case. And, in spite of much effort, he has not been able to get a loan or a mortgage. Lenders do not...
Building Credit Repair
Building credit is more important now than it has ever been. If you have bad credit, it is often hard to get an apartment, a loan for a home, or any form of credit loans at all. Likewise, if you have no credit at all, it is often difficult to get...
Loans from Credit Card Banks
As opposite to what used to happen in the old days, business
loans are now available not only for commercial companies, but
also for self employed people. In fact, this last group seems to
take the most advantage from this kind of loan, as...
What is Credit Scoring?
Have you ever wondered what is credit scoring? Credit scoring is a system creditors use to help determine whether or not to give you credit. How does a creditor decide whether or not to grant you credit? Creditors use credit scoring systems to...
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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 |
Credit.com offers a variety of credit related products and services including credit reports and credit scores, credit cards, car loans, home loan and ... |
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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 |
Credit is much more than a piece of plastic, and the resources on this site can help you become a more savvy consumer. You’ll also find compliance ... |
www.ftc.gov |
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Federal Trade Commission - Consumer Credit Center |
Features an assortment of helpful articles related to credit issues. |
www.ftc.gov |
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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 |
Our mission is simple: To offer education on the wise use of credit. ... SPRINGBOARD has been approved to provide credit counseling services and issue ... |
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myFICO - FICO Credit Scores, Online Credit Reports and Identity ... |
myFICO.com: Get your Free credit report and Free credit score with a 30-day trial of Score Watch. All three FICO Scores and Credit Reports Available now ... |
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Credit Suisse Global |
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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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Compare credit cards | apply for a credit card | 0% balance ... |
Compare over 300 credit cards, including 0% offers and balance transfers, and make a credit card application online... |
www.moneysupermarket.com |
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Ford Credit - Auto financing for Ford, Lincoln and Mercury cars ... |
Ford Credit provides auto financing to finance a lease or purchase a car or truck through Ford, Lincoln or Mercury dealerships. |
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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. |
www.creditmag.com |
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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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