Sunday, February 23, 2014

TIPS TO FOLLOW BEFORE YOU MAKE AN ONLINE STUDENT CREDIT CARD APPLICATION

Students - Do you know what your credit card is truly costing you and how you can save money by making an online student credit card application for a card with a lower interest rate? Many students take out a student credit card without being aware of the hidden fees that many credit card companies are charging. In fact, if you don’t keep close tabs on your credit card, you may end up paying hundreds of extra dollars per year—without ever really knowing it! And if like most students money is tight and you’re trying to live to a budget, those hidden fees can add up! Let’s take a look at some of the most common credit card fees, and then talk about how you can avoid them. Grace Periods In the past, we could always count on grace periods before we ever had to start paying interest. For example, if we charged our card to the limit, and could get it paid off before the grace period expired, then it would be like a free loan—we wouldn’t have to pay any interest. Unfortunately, the credit card companies are making this harder and harder to do. For starters, many of them have reduced the traditional 30 day grace period to 20-25 days. If you hold a credit card, but didn’t realize this, then you’re likely paying interest without even knowing it! What’s worse is that more and more credit card companies are eliminating grace periods altogether. That means if you charged lunch today at noon, at 12:01 pm, you would be already paying interest on it. How about your credit card? You need to take a close look at the fine print and find out what kind of grace period you have. If your credit card company has reduced it significantly, or eliminated it altogether, you should seriously consider canceling it and getting a more user-friendly card. Late Fees When is the last time you checked to see what amount your credit card company charges you for a late fee? The truth is that these fees have doubled in just the past ten years, and that, combined with the reduced grace period, means that the credit card companies are raking in a lot of dough on late fees! If it’s possible, you should try and send off the check (or electronic transfer) the day that you receive your credit card bill. There are three reasons why it’s important never to be late. The first is obvious; you will want to do everything in your power to avoid a hefty late fee. Next, if you are late, it will likely be reported to the credit agency and you will have a bad mark on your credit report. The third is the direst, and we’ll discuss it below. Interest Rate Hikes Did you know that if you are late--even one time—on your credit card payment, the company will in all likelihood raise your interest rates? That’s right; one late payment gives them the right to do it. What’s more, that isn’t just limited to your credit card payment. Any late payments from any lender that show up on your credit report gives them the justification to raise your rates, so be careful! Key Tips For An Online Student Credit Card Application Stop paying high charges and interest rates. Find a 0 apr student credit card and look for introductory periods of 12 months for balance transfers and purchases. You should also be able to find a student credit card options with rebates on gas, grocery and other great rewards.

Sunday, September 23, 2012

Getting a credit card is a big responsibility

Owning a credit card can be quite an advantage. Whethermaking online purchases, booking an air ticket or a hotelroom on the phone or simply being in need of someemergency cash, having a credit card can be a big help.However, getting a credit card is also a hugeresponsibility and if you don't keep an eye on yourspending habits, credit cards can create some seriousproblems. Here is an excellent list of tips on propercredit card use and if you follow these, you will likelystay out of trouble and your credit card will be ablessing instead of a curse: 1. When you make a purchase with the credit card, itis akin to taking a loan from your bank. What youhave borrowed has to be returned - so do not borrow beyondyour capacity to pay it back. 2. Always be aware of your outstanding credit cardbalances. This will help you determine whether you canmake additional purchases. Even small purchases can reallyadd up to big balances and substantial interest charges. 3.Any credit card receipts should be kept until you cancompare them to your monthly statement. If you find anypurchases you did not make, or higher charges than those onthe receipt, contact your credit card company immediately. 4. don't give your credit card to anyone, not evenfriends and family. Its not that you cant trust thesefolks but it would be really difficult to track purchasesif you are not the only one making them. 5. don't ever borrow more than your ability to pay itback. If you do and consequently arent able to pay itback, it can hurt your future ability to obtain otherforms of loans such as home mortgages, car loans etc. 6. Pay your credit card bills on time or even beforethey are due. Doing so will not only help improve yourcredit scores, but also help avoid additional costsassociated with late payment charges and accrued interest. 7. Try to have your credit card bills paid in fullevery month. To ensure this, budget your credit cardpurchases on a monthly basis and then don't allow yourpurchases to exceed that amount. 8.Keep your credit cards for new purchasing. don't pay onecredit card bill with a different credit card. This willinevitably lead to more charging and higher balances. Connie Gutchrif is the President of FN Credit - An excellentresource for information on credit. To learn more, be sureto visit: http://www.fncredit.com Getting a credit card is a big responsibility Owning a credit card can be quite an advantage. Whethermaking online purchases, booking an air ticket or a hotelroom on the phone or simply being in need of someemergency cash, having a credit card can be a big help.However, getting a credit card is also a hugeresponsibility and if you don't keep an eye on yourspending habits, credit cards can create some seriousproblems. Here is an excellent list of tips on propercredit card use and if you follow these, you will likelystay out of trouble and your credit card will be ablessing instead of a curse: 1. When you make a purchase with the credit card, itis akin to taking a loan from your bank. What youhave borrowed has to be returned - so do not borrow beyondyour capacity to pay it back. 2. Always be aware of your outstanding credit cardbalances. This will help you determine whether you canmake additional purchases. Even small purchases can reallyadd up to big balances and substantial interest charges. 3.Any credit card receipts should be kept until you cancompare them to your monthly statement. If you find anypurchases you did not make, or higher charges than those onthe receipt, contact your credit card company immediately. 4. don't give your credit card to anyone, not evenfriends and family. Its not that you cant trust thesefolks but it would be really difficult to track purchasesif you are not the only one making them. 5. don't ever borrow more than your ability to pay itback. If you do and consequently arent able to pay itback, it can hurt your future ability to obtain otherforms of loans such as home mortgages, car loans etc. 6. Pay your credit card bills on time or even beforethey are due. Doing so will not only help improve yourcredit scores, but also help avoid additional costsassociated with late payment charges and accrued interest. 7. Try to have your credit card bills paid in fullevery month. To ensure this, budget your credit cardpurchases on a monthly basis and then don't allow yourpurchases to exceed that amount. 8.Keep your credit cards for new purchasing. don't pay onecredit card bill with a different credit card. This willinevitably lead to more charging and higher balances.

Saturday, November 19, 2011

The Cleaning Up Your Credit to Get the Mortgage You Need

These days getting a loan has become increasingly difficult but with so many home foreclosures on the books more and more banks are extending credit to those wanting to purchase a piece of real estate in the U.S. While they may be really stringent when it comes to extending credit to those in need of credit cards and even personal loans the mortgage market is a bit more lenient very simply because it is helpful to the banks to have these properties being paid for and maintained. So many men and women seem to believe that it's to the bank’s benefit to foreclose on homes very simply because they do not allow any leeway when it comes to missing payments. In fact, however, foreclosed homes really don’t benefit the bank at all and most of the time once a bank forecloses on a property they begin losing money on that property and the sooner they can get someone else to assume the payments the better. If you're interested in picking up one of these incredible deals on a foreclosure you're in luck because they are plentiful throughout the United States and if you find that at first that you don’t have a good enough credit rating to get approved for a mortgage, there are several things that you can do to start bringing up your credit rating again. There are even organizations that may help counsel you on financial matters and can help you to clean up your credit. Cleaning up your credit requires only the effort of attempting to pay off your previous bills and this will start to bring your credit rating up once more. Of course, it does take time and you may also need to establish some new credit even if that means taking out a secured credit card to help you build up more credit. When it comes to credit building anything that you can do to create positive credit experiences is something that is worthwhile and consistently paying your bills on time is something which can really boost your credit score. Purchasing a new home and taking out a mortgage can be a little tricky for those that are struggling with less than perfect credit, however, it is very important realize that that it's not impossible. Those that have had credit problems in the past can work to build up credit once more and if you are considering first time home ownership the bank might show you some leniency as well.