Sunday, February 18, 2007

Bad Credit Is No Longer A Taboo In Loan Market

By Turk Malloy

Individual having bad credit does not mean he is a financial disaster. But it states that he has missed some payments to the loan he has guaranteed in making. Taking a bad credit loan gives the borrower a chance to prove his sincerity in making repayment of loan.

Bad credit may occur due to many reasons like late repayments, arrears, CCJs, IVA etc.

The rate of interest charged is comparatively high as the lender is at high risk offering the loan amount to you being bad credit.

Bad credit loan can be taken for any purpose like home improvement, purchase of car, to go to an exotic spot, wedding expenses etc.

Secured and unsecured are two types of bad credit loan. In secured bad credit loan you are to provide collateral against which loan is taken. The interest rate is low as the lender has the option to repossess the property in case the borrower defaults in repayment. Generally, this is the last resort taken by the lender.

In case of unsecured bad credit loan, no collateral is needed. The loan comes with a high interest rate as compared to secured loan. This increase in interest rate is to neutralize the risk factor of the lender.

Online bad credit loan is just a mouse click away. The borrower is to fill an application with details required on the form. This give a chance to the lender to come to the respective borrower with suitable quote, repayment term, interest rate etc. His makes the borrower take decision quickly and effectively in choosing lender.

Bad credit is no more a taboo rather it is considered a problem that may happen to any one. Instead of closing your ways to get loan it gives you the chance to enhance you payment credibility in the market of loan.

Turk Malloy works as financial advisor in BadCreditHistoryLoans. He is offering loan advice for quite some time. To know more about bad credit history loans, online bad credit history loans, cheap bad credit history loans, bad credit history tenant loans, bad credit tenant loans, bad credit history unsecured loans visit

Friday, February 16, 2007

No Cost Financing For Home Owners

By Greg Lucas

The No cost financing option is a good option for homeowners. Why? I will come to that at a later stage. Let me discuss some facts, as one can understand that no cost finance is a reality not a myth.

How does one get away with no cost finance? It is a quite simple fact you have to pay for what you get. Nobody is ready to dole out money just for the fun of it.

If you need money you need to pay for it but "no cost financing" options are financing options that have no hidden charges and are quite gentle. A financier who is going to give you a no cost finance option will be charging you something between 0.5 % and 0.85 % more than one who is going to give you a full cost loan.

The above advantage that I have given is for homeowners. As homeowner one can go for a no cost option mortgage provided the interest rates are significantly lower. This is the advantage if the current interest rates are lower.

Homeowners who plan to live in their houses for not a long period of time say between three and one year can take advantage of this loan option. If you are unsure about the period of stay in your house then you should consider refinancing, keeping in mind that you could still go in for no cost financing.

Once you go in for no cost financing, you should be ready to bear little surprises. Once you have gone for refinancing you will not be required to pay any lender fees or for that matter settlement fees. As borrowers of the loan you will be held responsible for the per-diem interest and other escrow costs. However your old lender as your old loan closes will credit the escrow costs.

Before going in for a no cost finance option, it would be a great idea to talk to your financial advisor. There were two kinds of financial advisor's up to now, an Independent financial advisor and a tied agent.

An Independent financial advisor will do all the dirty work for you like browsing through the whole market and finding out what is most suitable for you. A tied agent will talk to you about only what his employer has to give you.

Now the third type of financial advisor that has emerged is the multi tied agent. They have their own limits to talk about from a choice of companies and how they are commercially arranged with them. They were basically arranged for people who would have been otherwise tied down to tie advice.

These financial advisors when they give you advice on any no cost option will be charging you for their advice. This will relate to your full cost loan. You can always strike a bargain with them to give you the best in this zone. You can find advisors relating to the specialized field like mortgages to give you specific advice on no cost financing.

Greg Lucas is a small business owner and an on-line marketing expert who owns and operates a large network of informative and educational websites. for more information please visit: zero down home loans

Thursday, February 15, 2007

The Business Credit Card: Five Things You Need To Know

By Max Anderson

Too many business owners think they can run their business by charging business expenses on their own personal credit cards rather than using a business credit card. If you're one of them, you may want to rethink that policy.

Using a personal credit card for business purposes can turn into quite the disaster. Fortunately, by understanding the five following business credit card facts, you can avoid the common business credit card pitfalls.

1. You've Got To Keep It Separated

If you run a business and keep charging your business purchases to your personal card rather than a business credit card, things are going to get messy. And sooner or later, you're going to mess something up. Because keeping proper business records is critical to the success of your business, you should avoid using your personal credit cards for your business needs.

2. Don't Pay More Than You Have To

Some business owners assume that a business credit card will carry a higher interest rate than a personal credit card. Don't fall for the myth. It's just not the case. Just like the personal credit card market, the business credit card market is filled with competition,and getting a great interest rate is just a matter of shopping around

3. Take All You Can Get

Having a business credit card isn't just good for financing business purchases; a business credit card can also help you out with some additional business-related perks. Many business credit cards allow you additional cards for employees, automatic insurance protection on purchases you make with your business credit card and rewards programs (minus the high interest rate usually associated with rewards cards).

4. Your Business Needs a Credit History

No matter how you may feel, you and your business are two separate entities. Just like you need your own credit history, your business needs to establish its own credit history as well. One of the best ways to do this is with a business credit card. By obtaining and using a business credit card, you will begin the essential process of building your business's creditworthiness and paving the way for future business credit opportunities.

5. Be Prepared to Guarantee It

If your business has never had a business credit card before, you'll probably need to guarantee your business credit card personally. Think of it as co-signing for your business. When you do this, not only are you building your business's credit history, but you are also adding on to your own personal credit report at the same time.

Now Is The Time

So whether you are starting a brand-spanking new business or you have been running a business without a business credit card for a while, now is the time to get the ball rolling and apply for the business credit card that will best serve the needs of your business. There's no time like the present to put a business credit card to work for you.

For more tips on getting the best business credit cards, saving money and avoiding getting taken, check out, a website that specializes in providing credit card tips, advice and resources.

Wednesday, February 14, 2007

Ways Of Consolidating Credit Card Debts

By Pierre Smith

Studies show that most people are in serious debt due to overspending. The compulsive shopper purchases items and will not stop until the card has reached its maximum limit. Those who have this problem won't stop there but also have the nerve to bring another piece of plastic out of the bag. Everything is fine until the credit card bill comes in. Although banks allow the individual to pay the minimum amount before the due date, the remaining figure continues to grow and gets even bigger due to interest rates.

What happens to someone who owes a lot of money to the various credit card companies? For starters, the person's credit score rating will go down making it difficult to get a loan or even apply for another card in the future. Things will only get back to normal when these debts have been paid off. There are a lot of people in the United States and other countries who are experiencing this problem. The only way out for American is by getting the help of a financial consultant.

After reviewing the case, most professionals will advice the client to cut back on spending. This means not eating out very often, watching movies in the theatre or shopping in the mall. Money will only be used for the essentials such as the groceries and the payment for the utilities. The remainder must be used for consolidating credit card debts. If the client has a lot of credit cards, two should be kept while the rest should be canceled. The amount due must be consolidated with the remaining cards making it easy to track the bill when it comes at the end of the month.

Another way of consolidating credit card debts is by applying for another card that has a lower interest rate. This allows the client to cancel everything else and buying more time off everything. Eventually, the outstanding balance will continue to go up even if everything has been consolidated into just one credit card. Instead of waiting for this to happen, the person must already think of other ways to pay off the debt. If there is a lot of old stuff in the house that is not being used anymore, the debtor can hold a garage sale to make off with some extra cash. Another advantage about having a garage sale is that it makes the house clutter free.

Some people may try asking the boss for a raise, which will be easy if the employee has worked there for some time. If the company can't afford to give it, perhaps working over time will work to the person's advantage. The individual can also try getting a second job is the company does not allow overtime due to budget constraints. If the cardholder is married and the other spouse is not working, this will also be a good time for other person to look for work.

It took months for this problem to grow and it will probably take three years or more before the client is debt free. Until that time comes, the individual should just follow the instructions of the financial planner and stick to the plan. Those who make it will have a second chance at life and should learn from this mistake so it won't happen again.

Pierre Smith provides articles that gives you a lot of tips and information to get good credit rating and to avoid bad credit history. Check out his website to get more information how to find ways of consolidating credit card debts.

Monday, February 12, 2007

Benefits of Using Credit Cards

By Jacob Joseph

Are you considering applying for a credit cards? Outlined below are the advantages of utilizing a credit card for making purchases.

Getting rewarded for your credit card use
Nowadays, almost every available type of credit card has some type of reward connected with it. Offering perks and freebies is the number one method used by credit card companies for soliciting business. They will never go head-to-head, offering lower interest rates. When you pay your credit card balance every month, you will earn a tremendous amount of 'rewards'. On the contrary, if you neglect to make your payments in full, the amount of money you end up paying in interest in likely going to cost you more than of the 'rewards' you receive.

There are many different types of reward credit cards available.
Some of the more popular include:
Cash rebates on purchases - Common annual savings are 1% on all purchases. At the end of the year you will either receive credit for the rebate total or a rebate check will be sent to you.

Airline miles - You will earn one frequent flier mile for every dollar that you spend. Miles are typically worth two or three cents each.

Gas rebates
- When you use your credit card for filling up your car, you will receive a discount on gas when you use this type of credit card.

Store and restaurant discounts
- These types of credit cards offer savings at participating restaurants and stores when used.

Free merchandise - Many credit cards offer seasonal rewards for card holders.

Some more advantages of using credit cards....

Eliminate stress at the airport - When you use a credit card to buy a plane ticker, it is viewed as non-suspicious by the FAA. As a result of terrorism, using cash to pay for a ticket is looked at as very suspicious and will likely result in you being detained and question.

Protection from bankrupt airlines - Using a credit card to buy an airline ticket offers you protection from losing money in case the airline goes bankrupt.

Stop payment rights - One of the best advantage of using credit cards for making purchases is the ability to make stop payments in the event an item is never received or is broken. For example, say you buy something on the Internet, but you never receive it, you can contact your credit card issuer and initiate a stop payment on the product.

Improving or rebuilding credit
- No matter if you have bad credit or no credit, when used responsibly a credit card is one the most effective means of improving credit ratings and scores. Responsible credit card use means making timely payments every month and not going over your available credit limit. You do not have to pay your balance in full, just on time. A good rule of thumb is to not spend more than 15% of your available line.

Extended warranty, theft and damage protection
- Many credit cards offer added warranty, theft and damage protection on purchases made with the card.

Jacob Joseph is a financial expert for At Star Loan Services you can apply for credit cards for people with bad credit.

Monday, February 05, 2007

All About Credit Repair Kits

By Kate Ross

Well in a way, it is. This is meant to be an insight on the repair of bad credit and the best way to go about it. This world is full of wise guys wanting to take advantage of your situation, so beware!

So, What’s It All About?

When you have bad credit, you must call for help. It’s the soundest measure, instead of believing that there’s nothing you can do about it. Credit can be repaired basically in two ways: Hiring a professional or company to do it for you, or doing it yourself.

The Do It Yourself Method

To begin with, around 35 per cent of the information the Credit Bureaus have, is incorrect. Faulty communications, typos, wrong name or whatever. All this contributes to give you bad credit, when in reality you have actually done very little towards these bad records. Some of the information is outdated and even due to identity theft.

It All Boils Down To…

It all boils down to sending the correct letters for each case, with the accurate information, which the Bureau will accordingly verify and correct. These documents are the ones that the experts use and are legally correct, so you can send them by e-mail or print them out and send them by ordinary mail or hand them in personally. Suit yourself.

Is There Any Catch?

The only snag that could come up your way, is your own doubt, misunderstanding of the instructions, or simple human error, mostly out of lack of experience. Our suggestion is to be extra careful and if you have any doubt whatsoever, seek an expert, who knows his way about bad credit repairing and will give you the best results.

It may mean a higher cost, since you have to add the expert’s fees to the cost of the kit. That way, the expert will make sure you don’t make any mistake and the kit instructions will make sure the “expert” doesn’t want to fool you, taking his fees from you and doing an incomplete or faulty job.

Are There Any Official Agencies That Do This For Me?

I wouldn’t call them official, but they certainly are approved. There are legitimate agencies and of the other kind. Open your eyes and look out for the legitimate. If you check on Internet, find out if they have an official physical address.

Word of mouth is a good way of knowing about an agency’s reputation, say, through accountants, attorneys or even friends. There’s always a friend of a friend who knows well enough.

Be Prepared

So, as a wrap-up, let me tell you that whichever way you carry out your credit repair, make sure you’re treading on firm ground. There’s nothing better than a good preparation for whatever you do, especially if the financial security of your family is at stake.

Kate Ross is a professional consultant at Smart tips and interesting articles on this subject and other financial related topics can be found in her website

The 0% APR Credit Card and Why You Should Consider One

By J. William Arnold

Read through this article to discover how not to pay annual percentage rates for decades. Basically, APR is the rate at which interest is calculated on the unpaid balance of your card. Credit card low APR is an appealing choice for frequent shoppers that rely on having a low monthly interest rate when they cannot pay off the entire balance of the credit card in any month. Because the credit card company has lent shoppers money so they can make their buys, the credit card company will charge interest on the balance until the entire balance is paid off. Mostly, credit card low APR charge you an interest rate even lower than the standard APR offered by most traditional credit cards.

Because the interest rate advertised is calculated over the period of a year, it is known as the Annual Percentage Rate. It’s the quickest way of telling which credit card company charges the lowest rate of interest for using their card. However, there are a couple of additional things you need to keep in mind when comparing the APR advertised by different card issuers. Some consumers might discover that when an introductory APR offer expires the rate of interest can revert retroactively to an APR of 23% and beyond.

The credit card companies use the low, or 0 percent teaser rates to bring in new customers that they are hoping will continue to carry monthly balances that extend beyond the introductory period. More importantly, however, the 0 percent offer works for you because it can save you a large amount of money on interest during the introductory term. The lower the APR, the cheaper the card is to carry and the more money you'll save on it. You'll get low interest on all buys and balance transfers for up to 15 months.

A basic strategy to ponder; when your intro period on your existing card is about to expire, apply for another card with a 0% APR introductory rate from a different financial institution and transfer the balance to the new card and cancel the old. Considering all the financial institutions there is today it could be decades before you have to pay an annual percentage rate.

If you need to buy something expensive then the 0% APR credit card can look very appealing. However, if you will not be able to pay off your purchase by the end of the introductory special on your 0% APR credit card, you may learn that you will be paying more in the long run with higher interest rates. But you can do like most people, just apply for another 0% APR credit card and transfer the balance from your old 0% APR credit card to the new card and then cancel the old card.

If the interest rate is higher than the APR of another credit card that do not offer 0% APR credit cards and you’re not planning on heightening the 0% APR credit card you’re given. Then maybe, it’s better to go with a credit card with low interest. There are so many types of 0% APR credit cards that offer all sorts of promotions and rewards that it’s hard for a consumer to pinpoint which one would best suit their wants, needs and present financial situation.

If you’re going to buy something expensive but you don’t think you can pay it off before the introductory period of your 0% APR credit card offer expires then just before the intro period is over it would be a good time to look at other 0% APR credit card offers. 0% APR credit cards are an appealing choice for frequent shoppers that rely on having a 0% monthly interest rate when they cannot pay off the entire balance of the credit card in any month.

J. William Arnold has been involved in writing articles since 2001.For more information on 0% APR Credit Cards, just click on the following link.

Thursday, February 01, 2007

How To Choose A Credit Card

By Anna Goldstein

There's choosing the right job, the right guy, and even the right shoes to compliment your perfect outfit.

There's also choosing the right credit card.

Since money doesn't grow on trees (unfortunately) and you don't always have cash, you swipe away using your plastic card to get the things you need and want. But, the credit card you use shouldn't do more damage to your bank account than your spending habits are already doing.

When choosing a credit card, consider these tips from Martin Lukac:

"Get one with no annual fee and avoid credit cards with a high credit limit. You might be tempted to overspend. Find a card that offers a 0% introductory rate -especially if you don't pay off your bill each month. Just be prepared to change credit cards every 6 months, since that's how long the 0% typically lasts. If you're someone who pays off your credit card each month, opt for a card that gives you cash back or rewards."

Martin strongly recommends paying more than the "minimum payment due" every month.

"If you owe a credit card company $5,000 at 18 percent interest and all you do is pay the minimum every month, it's going to take you 30 years to pay it off (credit card companies don't tell you this.)"

Using your credit card will help you build a strong (and hopefully positive, so you can get a mortgage loan or that car you want) payment history- which means paying your bills on time.

If only money grew on trees...But since it doesn't, making the right credit card choice really does make life a little easier.

Be sure to decide on the best credit card for your lifestyle based on the facts. Then swipe away.

Self in the City,, is an online lifestyle magazine. Get expert advice from nutritionists, fitness trainers, therapists, financial advisors and many other specialists. Sign up for your free (quick tips) e-mail and discover funny, relatable and practical tips to make your life a little easier