The first thing to understand about how credit cards affect your credit score is, your score is only affected when the company issuing the card reports to one of the three major credit bureau's, these being Equifax, TransUnion, and Expirian. Most Issuing banks report to all three however a few secured credit card companies do not. If you are looking to rebuild your credit by means of a secured credit card then it is important to find out if the...more
So you're looking to open up a UK bank account that can supply you with a debit card but you might have bad credit?It can be a reality that 1 in three people inside the UK have some type of negative facts stored on their credit file and this ratio is possible to rise on account of the current economic downturn. It really is no wonder then that more and far more individuals are finding it challenging to open up a UK bank account.Banks use your...more
Going on holiday or business to Spain, France or Italy this year? Then watch out for a new ploy to overcharge your credit or debt card. Many restaurateurs and retailers in these countries now have the facility to get you to authorise your bill in euros but then they recharge your card in sterling. That sounds innocent but there's a sting in the tail. The retailers charge you an additional service fee of up to 4%! The system is called dynamic currency conversion (DCC). DCC guidelines from Visa say that UK cardholders should be offered the option to either have their card charged in euros or to have the transaction changed into sterling before it goes through. It seems that in practice, few of us are being offered the alternative. Many retailers are charging us in sterling automatically - and with the extra 4% fee! The language barrier might explain the lack of explanation but we are a little more cynical! Even where permission is sought, we doubt whether many restaurateurs or retailers will clearly spell out the additional service fee. After all it's an opportunity to make a bit more profit! Our advice is that when abroad in euro-land always ensure that your transaction is processed...more
Does your heart skip when the phone rings? Are you afraid to open the mail and get another letter from a debt collector? If so, you are not alone. Many Americans are in debt up to their eyebrows and most don't even know what options are available to help them. They just struggle paycheck to paycheck, make minimum payments and watch with frustration...more
Emergencies are the part of our lives. They come up and trap us in its web. People with good credit history easily come out from its trap by acquiring loan amount at easy terms. But borrowers with blemished credit history always face problem while availing funds and their situation convert into worst. That is the reason lenders have decided to...more
When dealing with credit, there are a multitude of terms that you should understand. These terms are used frequently when dealing with credit and will help you better comprehend exactly what is involved in your credit. Read through this credit terminology guide and educate yourself on the world of credit.Adjusted Balance - Adjusted Balance is a method of calculating your credit balance and Annual Percentage Rate (APR) where payments and/or credits made during the billing cycle are subtracted from your balance at the end of the previous billing cycle. This method is more advantageous to borrowers and credit card holders. Unlike Average Daily Balance calculations, new purchases during that billing cycle are not included in Adjusted Balance calculations, and interest is only applied to the balance remaining after payments are credited to your account.Amortization - Amortization is a payment plan that allows the borrower to reduce his/her debt through monthly payments of principal.Annual Percentage Rate (APR) - APR is the yearly rate lenders charge borrowers to borrow money (also called the cost of credit). Lenders must divulge the APR they are charging prior to finalizing the deal....more
Keep Your Credit History Clean - Remove A Negative Credit Record From Your Credit ReportIt can make a difference of up to 18% in loan repayment costs. For example, on a 30-year, $150,000 fixed rate mortgage, a borrower with the best credit score,...more
Managing credit often becomes complicated when details are lost, confused, unknown or when there are disputes on personal credit reports. Many times there will be errors with purchases or credit records. Other times, you may be dealing with fraud...more
How many credit cards do you have? If you are like most people it is probably too many.We've all been lured in by the siren call of better rates, special perks and rewards, or lower fees so that most Americans carry between five and 10 credit cards....more
If anybody wants to discuss about improving credit scores, then he must to know some rules and techniques. Paying off within time always make good effect on your credit scores. You can get a lot of financial benefits and save your money also from...more
In recent years, the amount of credit card debt being carried by Americans has reached hundreds of billions of dollars, with interest payments each year that would sink the economies of many small nations. But you can eliminate your credit card debt...more
With the global economic meltdown over, a lot of people are now feeling the aftereffects. To be true, for most people these aftereffects are not pretty at all. A lot of people are left with huge credit debts on their heads. Such people can get rid of...more