Thursday, 23 of February of 2012
Check Your 3 Credit Reports & All 3 Credit Scores Online Free!
Should I take out a loan or continue to pay monthly, if I have $ 30,000 in unsecured loans/credit cards?
Destroy all of your credit cards.
How much are you paying a month now? Its got to be close to $ 1200-$ 1500. Keeping your current payment plan, youll pay some or most of them off in about 5 years or so.
The new rules restricting aggressive credit card marketing on campus, included in the CARD Act of 2009, seem to have reduced the practice, says a report from Credit.com.
The report cited a study from the Federal Reserve that showed, for instance, that the total of new credit card accounts opened by students decreased 17 percent from 2009 to 2010.
But while some of the more overt on-campus marketing ploys (like offering free T-shirts and pizza to students who sign up for cards) are no longer allowed, a quick online search shows that card offers aimed at students are still plentiful. The credit card comparison site CardHub.com recently analyzed roughly 1,000 cards to see which ones offered the best deal.
With so many changes going on in the credit and financial sector these days, we thought itd be a great time to take a look at the many options small businesses have when seeking a credit card. The fees, terms and conditions and other factors play such a big role in what a business owner ultimately looks for. So, here, we have it all spelled out.
We like this card for a number of reasons, but mostly, its the versatility thats offered that serves as the big draw for many business owners. The rewards are plentiful, too. You earn an impressive 5% cash back on the first $25,000 spent annually on office supplies, communications services and even cable services.
Did you know that not all secured credit cards report to all three major credit agencies?
Whether you are looking to rebuild credit after bankruptcy or recover from past credit problems taking the time to understand the process is just as important as the process itself.
If you truly want to make the most positive impact to your credit reports then you should avoid high risk lenders at all costs no matter how enticing their secured credit card offers are.
In the long run using high risk lenders like First Premier Bank for example can ultimately hurt your credit scores rather than improve it simply because the issuer is known for extending credit to high risk individuals.
In addition you should only select secured credit cards that report your payment history to all three major credit agencies.
If you end up using a secured credit card that reports to only one credit agency then you hardly leverage the positive payments you’re establishing with that account.
It’s simple common sense that one positive trade line reporting to all three major credit agencies will make a much greater impact on your credit scores then just one trade line on one credit file.
So to save you time and make life easier here’s my top three secured credit cards that rebuild credit and meet the standards that I outlined above.
# 1 Public Savings Bank Open Sky Secured Visa Credit Card
With this card you can choose your credit limit from $200 to $3,000 and best of all there’s no credit check for approval.
They do charge a flat $50 per year fee but there’s no other upfront or monthly charges like you’ll see from a lot of other card issuers.
Here are some other benefits:
# 2 Orchard Bank Classic Master Card
Now with Orchard bank they do pull a credit check and based on your profile they will either offer you an unsecured or secured credit card.
Here are some other benefits:
# 3 Orchard Bank Visa Classic
On a final note when you decide to apply for a secured credit card remember there are three main factors that you control which is the credit limit you set, your balance owing, and credit usage.
Now if your funds are limited you may have to start out with a low deposit but remember to keep your debt to credit limit ratios at no more than 30% and use your card on a regular basis to establish a consistent payment history.
What other ways are you rebuilding your credit history?
Did you know that not all secured credit cards report to all three major credit agencies?
Whether you are looking to rebuild credit after bankruptcy or recover from past credit problems taking the time to understand the process is just as important as the process itself.
If you truly want to make the most positive impact to your credit reports then you should avoid high risk lenders at all costs no matter how enticing their secured credit card offers are.
In the long run using high risk lenders like First Premier Bank for example can ultimately hurt your credit scores rather than improve it simply because the issuer is known for extending credit to high risk individuals.
Do You want to Boost Credit Scores or Get Out of Debt?
Consumers today have two separate goals when it comes to credit. Some just want to get out of debt. Others want to boost their credit scores so that when it comes time to make a major purchase, they’ll pay the lowest interest rates.
That’s why consumers should think about the consequences before taking advice from credit counselors or well-meaning friends. Good advice geared toward getting out of debt may be the direct opposite of good advice that will increase your credit scores.
The way credit scores are created can be puzzling to many. Whi