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Cash Advance Credit Cards
Cash advance credit cards have been developed to help individuals who find themselves in need of quick loans from time to time, but don't want to pay the exorbitant interest rates and fees that credit cards charge for cash withdrawals. In simple...
Establish Or Rebuild Your Credit With Secured Credit Card
We all know how important good credit is in our lives. Today,
credit is no longer a luxury but a necessity. Credit makes it
possible for us to buy needed items, without paying for them at
the time of the purchase. Without a good credit rating, it...
How to Build Business Credit Despite Your Personal Credit
Business credit is more of a science than an art. The first rule for this science is that it is not the same as personal credit. Many would-be and aspiring business owners are not aware that establishing credit for a business is just as important...
Save Time, Money, and Frustration: Get the Right Credit Score
You go into a lender's office prepared to apply for and receive a loan. After all, you've done your homework, you've pulled your credit reports and you know what your credit scores are--you even got one score from each of the three major credit...
What Your Mama Never Told You About Business Credit Cards
You may have watched your mama use a credit card many times at the grocery store, at the mall, or paying for gas at the local convenient store. But, did she ever explain to you the difference between a personal credit card and a business credit card...
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Read and Understand Your Credit Card Statement
Have you ever looked at your credit card statement and ended up just scratching your head in frustration? Well join the club! But don’t take any comfort in the fact that you have plenty of company, because lack of knowledge can cost you….right on your credit report, and once there can stay with you a while.
Adding to the challenge is that almost every creditor’s statement is slightly different, varying in format and billing cycle and interest calculations. You first want to check what you purchased and what you borrowed, so make sure you save all your receipts to make sure you weren’t charged for something you didn’t buy or were double billed. Immediately dispute any discrepancies via phone and in writing.
Next you’ll want to verify the interest rates being applied for each type of purchase. Remember, cash advances almost always carry a higher interest than normal purchases and interest usually accrues from the date you received the money. Also, if you have any balance transfers with introductory interest rates, verify that it is correctly noted and hasn’t been increased prematurely.
Review how your
interest is calculated (this information is usually on the back of your statement) and make sure that the right rate has been used for each category. On purchases, most cards take your average daily balance over the billing cycle and divide it by one-twelfth of your annual percentage rate (APR).
Lastly, but maybe most importantly, make sure you send your payment in well before the due date. In order to have your payment credited on time to avoid a late fee, it must be posted by the due date shown on the statement. Therefore, if paying by mail, it is advisable to mail your payment at least a week in advance. For those whose cash flow doesn’t allow an early remittance, paying by phone or on-line might be a good alternative.
About the Author
The Credit Counseling Foundation, Inc
provides web-based education and personalized consumer credit counseling to clients
and the general public in an effort to help consumers use credit wisely. Visit
us at www.godebtfree.com
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| Credit Reports - Credit Cards - Car Loans - Home Loans - Credit.com |
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| 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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| Federal Trade Commission - Consumer Credit Center |
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| AnnualCreditReport |
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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. |
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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" ... |
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| Credit (finance) - Wikipedia, the free encyclopedia |
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| 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 ... |
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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. |
| 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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