If you are a student or about to become one, then you might be realising that the debt you will incur and the limited opportunity to work whilst studying means you will need to take out a credit card. This can be a recipe for disaster, but if you are careful with the card and pick the right package you can ease your financial troubles through university without getting into massive credit card debt.The features and benefitsOne of the best reasons...more
Summer is finally here, and so begins the season of long travel and family vacations. Approximately 52% of American families take at least one vacation between the months of May and August, which means that quite a bit of money is spent on both domestic and international travel.Unfortunately, traveling with only cash and checks in your wallet is not recommended. Whether you plan to rent cars, fly on airplanes or stay in hotels, travel is always...more
Credit cards for college students can prove vital, especially when it comes to financial emergencies. Parents aren't always around to bail out their children and by offering students a credit card it is possible to not only provide them with security for these emergencies but also teach them about the sensible use of credit cards and credit accounts in general. On the positive side, student credit card limits are usually set quite low making it difficult to run up masses of debt on one individual card but it is still possible without careful management.Why Students Need Credit CardsStudent credit cards are only financially crippling when they are used incorrectly. In the case of students, running up bills on numerous student credit cards can mean repaying the debt over the next ten years and possibly even longer. However, as well as being ideal for use in emergencies they also offer the opportunity to build a credit history, without which it is virtually impossible to get a mortgage or other lines of credit.A Single Application For A Single CardAs a student, the most important aspect of managing your credit is not getting carried away. This should start with your first application....more
There are credit counseling agencies that rescue people from the deepest financial holes. There are also credit counseling agencies that just shovel in more dirt. How do you tell them apart?Signs of a Reliable Credit Counseling AgencyBetter Business Bureau MembershipThe service's website should have a BBB logo and a link to their record on the...more
If you own your home and pay a mortgage, you probably already know that there are certain income tax advantages for deductions such as interest payments made each month. And if you use a credit card, you know that there are no such perks available, even though credit card borrowing usually means paying much higher rates of interest, fees, and...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
You see the ads in newspapers, on TV, and on the Internet. You hear them on the radio. You get fliers in the mail. You may even get calls from telemarketers offering credit repair services. They all make the same claims:"Credit problems? No...more
If the borrower has a satisfactory credit history and the ability to pay timely payments, the borrower may be considered a prime borrower and rated as an "A" borrower. In this case the loan will be closed using standard mortgage documents referred to...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...more
Far too few people know about something that has a huge impact on their life their credit rating. They often learn about it after it is too late and pay dearly for it. You see you start forming your score as soon as you become a regular consumer...more
Sometimes all you need to do to get a high credit score is to check your credit report for errors and inaccuracies. You know that your report is highly susceptible to errors as they are prepared by human beings like yourself. You know that human...more
Cashback is a popular incentive offered by many credit card companies. What it means is that for every dollar you spend, your card issuer will give you back some money, usually in a single payment made once a year.The amount paid back is calculated...more