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How Does a Creditor Determine Whether to Grant You Credit?
Credit 101
How does a creditor determine whether to grant you credit? For many years, creditors have been using credit scores and credit scoring systems to determine if you'd be a good risk for a loan or credit card. More recently, credit scores...
How To Get A Great Credit Card With Bad Credit
Credit Cards For Consumers with Poor Credit Ratings
Ever wondered how and why you can go online and be approved for credit within seconds? Or receive a pre-qualified loan or credit card without anyone asking how much money you make? Or why one...
How to Handle and Avoid Credit Card Debt
If you are trying to avoid credit card debt, it probably seems like the entire world is working against you. Anyone with a mailbox receives hundreds of credit cards offers every year. And although credit cards can be lifesavers when used...
Save on your insurance by improving your credit score.
Did you know that you could make sure to get the best rates on your auto and homeowners insurance simply by having a good credit score. Additionally a great credit score will allow you to get the best interest rates on your credit cards, car loans...
Using A Credit Card To Fund Your Business
The spate of credit card offers and leaflets that most of us receive through the post or in our daily newspapers, which promise us unlimited spending power and in some cases blank cheques, has threw up a major surprise and that is the way that small...
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Credit Card Debt Help: How to Become Credit Smart and Enjoy the American Dream
Being able to buy things on credit has allowed Americans to own
and enjoy things--often for years--without having to wait and
pay cash for them. In that way, the concept of credit has been a
boon to experiencing the American Dream. Unfortunately, there is
also a dark side to credit--one that can turn the American Dream
into a life-destroying nightmare.
The figures are startling. More than 70 percent of American
divorces are caused by the stress brought on by financial
difficulties, and three out of every four Americans are a mere
three paychecks away from having to face potential default on
their debts.
But how can this happen in the richest country in the world? The
answer is simple: misuse of credit. In order not to become one
of those depressing statistics, it's important that you become
credit smart--long BEFORE you find yourself in financial
difficulty over your head.
Credit Card Debt Costs
First, let's look at the nuts-and-bolts of what credit card debt
actually costs. When you buy something using a typical credit
card, you will, on average, end up paying more than 130 percent
above the actual cost of that item, compared to what it would
have cost if you had paid cash. No matter how terrific the sales
price may have been, your savings will be more than offset by
the interest charges you'll end up paying if you pay by sending
the monthly minimum payment to your credit card company.
If you pay the minimum amount suggested on your bill each month,
you'll normally be paying 90 percent interest, with only the
remaining ten percent going to the reduction of the principal
on
your balance. It can take years to pay off relatively high
ticket items, and you'll end up paying many times more for the
item than its original sales price. Yet more than 70 percent of
American consumers pay only the minimum amount on their monthly
statement and never give any thought to how much interest
they'll pay over the life of the debt.
To avoid potentially devastating financial difficulty, and to
save money (and possibly your marriage), it's important to
become credit smart.
First, pay cash, if at all possible. Second, if you can't pay
cash at the moment, ask yourself if you truly NEED whatever
you're contemplating at the moment. Perhaps you can put it off
for awhile, and then pay cash for it.
If you need the item right away, put it on your card, but when
the bill comes, always pay a little more than the minimum amount
each month. Even a small amount can save you hundreds, or even
thousands, of dollars over the life of the loan. Finally, if you
can, pay off your credit card in full each month. That way,
you'll avoid paying any interest at all.
Credit card debt can ruin your life and the lives of everyone in
your family. Take time to learn how to use it wisely--to improve
your quality of life without creating undue amounts of stress.
Copyright © Jeanette J. Fisher.
About the author:
Jeanette Fisher teaches how to get out from under credit card
debt. Free ebook "Credit Tips for Mortgage Financing" http://worryfreecredit.com
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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 ... |
www.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 ... |
www.equifax.com |
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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. |
www.annualcreditreport.com |
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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 ... |
www.credit.org |
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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 ... |
www.myfico.com |
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Credit Suisse Global |
Credit Suisse Group is an international financial services group. - Shares part of SMI. |
www.credit-suisse.com |
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Experian: Free Credit Report and Credit Score, Credit Check ... |
Credit referencing and consumer targeting for the USA and other countries. |
www.experian.com |
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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! |
www.freecreditreport.com |
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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. |
www.fordcredit.com |
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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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