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Citibank credit cards guide
With Citibank being such a popular credit card issuer, many people are in demand for the new cards from this bank. In this article, we'll be discussing the various new cards offered by Citibank. APRs and rewards will be discussed so you can decide...
Paying Off Your Credit Cards: A Get Out of Debt Plan
Getting out of debt requires more than just simple willpower. Most people will need to go a step further: coming up with a plan to make sure that they will be able to permanently retire their debts.
First and foremost, you need to prioritize...
Small Business Loan With Bad Credit
"Initially, it was difficult to get small business loans if you had a bad credit record. But today the scenario has changed, there are many organizations that offer you small business loans even if you have bad credit. However, before you make your...
Thoughts On Securing A Bad Credit Mortgage
Over spending, the endless nights of partying, eating out and more or less buying everything on a whim, has most likely put a dent in your financial situation and will affect how you live your life for years to come. Clearly, the best option is to...
Which Credit Card?
Bewildered by the sheer variety of debit cards and credit cards? Here is a breakdown of some of the main types of debit and credit cards available: Debit card You can use a debit card to buy goods and services. A debit card is very much like a...
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Debt Help Online - How To Rebuild Your Credit By Consolidating Debt
By consolidating your debt you can rebuild your credit by making
on time payments, paying off your debts, and increasing your
cash reserves. Depending on your debt load, you can improve your
credit situation within two years, enabling to qualify for
better loan terms.
Consolidating Debts
The idea behind consolidating debts into one monthly payment is
that your rates and payments will be lower. With these lower
payments, you will have an easier time making monthly payments
with enough left over to save or pay off the principal.
You can consolidate your debts with either a home equity loan or
a personal loan. Home equity loans have a tax advantage with
their interest being tax deductible. You can choose from fixed
terms or a flexible line of credit.
Personal loans also allow for debt consolidation. These
unsecured loans are based on your credit history and income
level. They also have no or low closing costs with flexible
payment terms.
Making On Time Payments
To improve your credit history, make on time payments. The
easiest way to do this is through automatic withdrawal. You can
set this up with most lenders or through your bank. Just by
making on time payments for two years, you can improve
your
credit score.
Paying Off Debts
Your debt liability is also a factor in your credit score. By
making an effort to pay more than the minimum payments, you save
on interest costs while improving your credit. Also plan on
using extra cash from tax rebates or employment bonuses to pay
down your debt.
Increasing Cash Reserves
Increasing your cash reserves can protect you from a financial
emergency and improve your credit score. Ideally, you should
have 6 to 12 months of living expenses saved.
If you don't have reserves now, start creating them before you
make extra loan payments. This way you won't have to use your
credit for any unexpected expenses.
Finding Lenders
As with any type of financial decision, you should research
lenders. Online financing companies allow you to request near
instant quotes. While you want the lowest rates, be sure that
fees are also reasonable.
About the author:
See my recommended Debt
Consolidation Companies online. Carrie Reeder is the owner
of ABC Loan
Guide, an informational website about various types of
loans.
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| 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, ... |
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