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Consolidating Your Credit Card Debt
Copyright 2005 MHG Consulting
Credit cards have revolutionized the purchasing experience since Diners Club released the first credit card in the year 1950.
The Dinners Club credit card gave consumers limited credit that, at times, even surpassed...
FREQUENT FLYER CREDIT CARDS
The best credit card reward available is one that suits your
lifestyle and saves you time and money. Check out the Bank of
America credit card for its convenience, low interest rate, and
great rewards. You can find the wide selection of Bank...
How To Get A Credit Card With No Credit History
Oddly enough, not only will bad credit work against you when applying for a loan or a credit card, but so will NO credit. Even though this doesn't seem fair, it's the way things work in the complicated world of consumer credit. Lenders are leery...
New Money As Credit
"Labour accepts that private financial institutions like banks
should be allowed to issue new money as credit"
The full significance of this statement, correctly understood
and widely known, would fundamentally change the whole...
Tips for Finding the Best Credit Card Rates
If you are interested in getting a credit card, you probably
want the best rate you can get. There are a lot of different
credit card companies that offer varying rates. In order for
you to decide which credit card company to select, you...
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No Credit Car Loans - Car Loan Approval With No Credit History
Getting an approval for a car loan when you have no credit
history can often times be almost as difficult as getting a car
loan approved when you have bad credit. There are things that
can be done, however, which will improve your chances of finding
a no credit car loan.
Ask your employer for a letter of reference - Include your
length of employment, your current gross wage and your current
net wages.
Prepare a personal payment history. Included in this history
should be a list of all the bills you pay on a monthly basis
which are not reported to the credit agencies. Ask your landlord
for a letter of reference. Utility companies will also generally
provide you with payment histories. If you have any small
installment accounts at local retailers which don't report
credit, ask them for credit statements as well.
If you don't already have one, open a checking account - Have
your paycheck sent to your bank via direct deposit if your
employer offers this service.
Open a savings account at the same institution as your checking
account. Authorize a regular deposit into your savings account
out of your paycheck. Link your savings account to your checking
account to limit the possibility of an overdraft.
While you are shopping for the car you want and for a lender,
set aside additional savings specifically for a down payment on
your car.
Once you have taken these steps, you are ready to approach a
lender for your no credit car loan.
The first lender you should approach is the financial
institution with which you have your checking and savings
accounts. Many times banks or credit unions will
work with
customers who have no credit histories if their accounts are in
good standing and they have some sort of down payment. When
shopping for your car, look for dealers who offer credit for
first time buyers. You must approach these dealers with caution.
Sometimes they will inflate the car prices or charge exorbitant
interest rates. Make them aware that you are looking at several
lenders and will be comparing their proposals.
Allow your payment to be debited from your checking account -
This may help compensate for the fact that you don't have any
credit history for the lender.
Arm yourself with knowledge. Know what the current interest rate
is for the most credit worthy applicant. If you have sufficient
income, a down payment and no negative credit your interest rate
should not be significantly above that rate. Be realistic about
the type of car you select. You may not be able to get your
dream car but there are many late model, low mileage cars for
which you can qualify when seeking approval for a no credit car
loan.
Most importantly, after you have successfully obtained you auto
loan, make your payments in a timely manner. Do not overload
yourself with debt and don't have lenders constantly making
inquiries about your credit. By following these simple rules,
the next time you look for a car loan the process will be much
easier.
About the author:
Carrie Reeder is the owner of www.abcloanguide.com, an
informational website about various types of loans. View her
recommended lenders for Car Loans
Online.
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| National Credit Union Administration - Home Page |
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| Credit - Wikipedia, the free encyclopedia |
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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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