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Bad Credit Used Car Loan: When Bad Is Not Really Bad At All
For people who have a low credit score or had encountered some
serious credit problems in the past and need to buy a car, then,
they have to apply for the so-called bad credit used car loan.
Basically, a bad credit used car loan provides the...
Do it yourself Credit Repair
Many of us believe that it is only through an agency that we
could possibly have any hope for repairing our own credit. Rest
assured that this is not true. It could possibly cost you more
money and time to arrange through an agency than it would...
Get Your Credit Score To Soar In The Twinkling of An Eye.
Ever wonder how a creditor decides whether to grant you credit? For years, creditors have been using credit scoring systems to determine if you'd be a good risk for credit cards and auto loans. More recently, credit scoring has been used to help...
UK Credit Card and Debt Consolidation Loans
Your current situation.
You have got several credit and store cards and several
loans. You are finding it difficult to make the payments
each month. Generally you do make the required payments but
this means that other parts of your like are...
Visa & MasterCard Raise Credit Card Processing Rates
Visa & MasterCard have raised interchange rates
again effective April 2005, but before we explain the increase lets look at
what comprises a discount rate as these credit card processing rate increases
are not simple.
The discount...
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What is a Credit Card?
A credit card allows you to buy things even though you might not have the money to pay for it right away. The company that gave you the card lets you spend up to an agreed sum and then makes additional money available to you as you pay off what you've spent. You must pay at least a minimum amount by the due date, generally once every month. You will pay a finance charge or interest on any amount you do not pay by the due date.
Today our entire financial system relies on credit. Credit cards can help to make your life that little bit easier- you can use it to pay for goods or services, either over the phone, online or over the counter.
Credit cards can enable you to have that little extra spending power when and where you need it. In addition to paying for purchases you can also use your credit cards in order to withdraw cash from a cash machine, not only in this country but all over the world.
It is increasingly difficult to operate in the modern economy without a credit card. Credit cards allow people to manage emergencies, to shop conveniently in the High Street, by telephone or over the internet and are useful when travelling abroad.
With each credit card you will have a limit to the amount of money that you can spend on it. This is known as a ‘credit limit'. You can withdraw money and pay for goods and services as much as you want up to your credit limit, effectively borrowing capital from your credit card provider.
Every month you will receive a credit card statement that will detail both your balance (the amount of money you have either withdrawn or spent) and any interest that has accrued upon it. You can then either pay off the full amount or make
the minimum payment.
A credit card allows the cardholder to borrow as much money (up to their credit limit) as they like, when and where they like, without having to get permission from their bank manager.
All credit cards have finance charges for not paying your balance in full each month, but you could save a lot of money by shopping around for the credit card that offers you the best terms.
Shop for a card with an interest free period that gives you enough time to pay your bills on time without charging you interest. Credit cards with no interest free period start charging you fees as soon as you buy something on your credit card.
A credit card is convenient for making purchases. It is also the best way to create a credit history for you, and this is necessary to do things like buy a home.
It is very easy to lose control of your spending habits if you rely on credit cards too often. While they can be very useful, credit cards can also be risky. Even people who are usually good with their money get into trouble with credit cards. The problem is that people use their credit cards too often and let their debt add up. Then they can only pay back small amounts at a time. This ends up costing a lot of money in finance charges.
Before applying for a credit card, you should decide why you want one, and make sure you can use it wisely.
You may freely reprint this article provided the author's biography remains intact:
About the Author
John Mussi is the founder of Direct Online Loans who help UK homeowners find the best available loans via the www.directonlineloans.co.uk website.
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| Springboard - Non-Profit Consumer Credit Management |
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| National Credit Union Administration - Home Page |
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| Credit - Wikipedia, the free encyclopedia |
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| Credit magazine, corporate bonds, derivatives, structured credit ... |
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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, ... |
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