Bad Credit? Get A Payday Cash Advance Loan With No Credit Check

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Do you have bad credit history? Even with a recent bankruptcy or foreclosure, if you are in need of some emergency cash, you may want to consider getting a payday loan. The benefits are you get the cash fast and it is an easy process, compared to applying for a new personal loan. You can apply for free with payday loan companies online.

How Payday Loans Work - A payday loan or cash advance company will do no credit checks to qualify you for the loan. The loan is based on your ability to repay the loan. This can be verified by a check stub from your employer and a verified bank account.
2 Kinds of Payday Loans - There are basically two kinds of payday or cash advance loans online. There are faxless or paperless payday loans where there is no faxing necessary to qualify for the loan and there are cash advance loans where you will need to fax in documents to verify your income.
The Disadvantage of Payday Loans - The only disadvantage to using a payday loan, is that, compared to credit cards, the interest rate is much higher. That is because the loan is considered a high risk, short term loan. It has different properties than a credit card.How The Loan Is Paid - The payday loan will be payed back in a single payment. The payment will be set up and deducted from your checking account automatically on the due date. You will want to make sure the funds are there, because there would be a hefty fee if the debit is rejected from your account.Make Sure To Compare Rates -

Compare payday loan companies fees and make sure that you are paying the lowest fees you can for this short term loan, and interest accrues everyday, so make sure you only use the loan for the time you need.With a recent bankruptcy or foreclosure, or just bad credit, it can be really difficult to get approved for a credit card or personal loan. Consider a cash advance loan online. They are convenient and can save you the hassle of applying for a new credit card. You can get the cash quick.

Bad Credit, Credit Cards

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When you have a bad credit rating obtaining a credit card is more difficult.  Most credit card companies will just deny your request.  This then makes finding a bad credit, credit card extremely important.  Now when you are applying for a bad credit, credit card there are several important factors to consider.
First, if you have a bad credit and are now in a better financial situation do not make the mistake of applying for every credit card offer there is.  Your credit score will lower with each credit card inquiry.  To eliminate excessive inquires, reduce your selections down to one or two companies that specialize in bad credit, credit cards.  The reason for this is the likely hood of being accepted is much better than it would be with a regular credit card company.  This is a great first step in bringing your credit rating and history back up to an acceptable level.
Before applying or accepting an offer from a bad credit, credit card Company, it is wise to research the company and other various offers.  Most companies are attempting to help you change your situation, but there are some companies that use this as a time to take advantage of your situation for their benefit.  Unfortunately as a rule you will not be able to obtain low interest rates at first but some are still better than others when it comes to bad credit, credit cards.

You will want to be sure to read all the disclosures and other information in regards to any user fees, penalties, and other possible hidden costs.  As an example; if you are applying for a secured credit card you will need to open a savings account with that particular bank.  This amount varies and will be the collateral for your card.  So your credit limit will be the same amount as your savings account and if you do not pay the bank then claims it.  In addition to the deposit most will have a startup fee, a annual fee and a monthly service fee.  Many companies will charge that to your credit card so you already have a balance before you actually receive the card.
You will probably not be able to do away with all extra fees, such as above, that are associated with bad credit, credit cards.  But if you read all the information from several companies you should be able to find the two with the lowest interest rate and least amount of user fees.

Bad Credit: County Court Judgements Explained

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Having a County Court Judgement or CCJ issued against you will have a severe impact on your credit rating, as it signifies that you have had serious problems paying back a loan or other form of credit, to the extent where your creditor has had to take court action against you to try and recover the debt

.
If you get into arrears and fail to come to a repayment agreement, your creditor may decide that pursuing a CCJ is the only option. The first you'll hear about it is when you receive a 'Claim Form' through the post, sent to you by the county court. This form will set out the details of the claim, including who the creditor is and how much they say you owe them.
If you were unaware of the debt, for instance if you'd moved house and lost contact with the creditor, then repaying the full debt now will stop proceedings going any further. If however you can't clear the debt, then you should fill out an 'Admissions Form' which will also have been sent to you.
This form asks for information about your income and expenses, which the court will take into account when hearing your case. The Admissions Form should be returned within 16 days of the postmark it holds, although if you intend to dispute or defend the claim then you can apply to have the hearing delayed an extra 14 days in order to prepare your defence.
Once you've filled in these forms and returned them to the court, there will be a simple hearing carried out in private. You don't have to attend the hearing so long as you've completely filled in the necessary forms, or unless you wish to dispute aspects of the claim.

At the hearing, the court will objectively review the claim and the information you've provided, and come to a decision about the amount of money (if any) you owe, and how it should be repaid. It's important to note that no one is being found 'guilty' or 'innocent' here, the court is simply trying to fairly resolve a civil financial dispute.
If the decision upholds the claim against you, then the court order or CCJ is issued. Even at this stage you can stop the damage to your credit record, as you'll have one month from the date of the court hearing to repay the debt in full to stop the CCJ being put on record.
After a month, the CCJ will be entered on to the Register of County Court Judgements, and from there it will make its way onto your credit files held by the various credit reference agencies.

The presence of one or more CCJs on your credit file will effectively close off most kinds of finance to you, as most lenders will be very reluctant to advance credit to people in these circumstances. Once, however, you've cleared the debt, then the judgement will be marked as 'satisfied', and while this will not remove it from your record it is a lot less harmful to your credit worthiness than an uncleared CCJ.
If you have a CCJ on your record, you might be tempted by companies promising to remove it and clean up your rating. Unfortunately, this is only feasible in a few cases. Sometimes, the CCJ is entered on to your record by mistake even though you cleared the debt within the one month time limit. If this has happened then you have the right to have it removed from your records.
The only other ways to have a CCJ removed is to show that there was something wrong with the way in which the judgement was awarded. If, for example, you didn't receive the initial Claim Form, and you were unaware of the proceedings, then you didn't have the chance to defend yourself and so the judgement is invalid.
In these circumstances, you can apply to the court to 'set aside' the judgement and it will be removed from your file, with the whole process starting again with a new claim and hearing. Any attempt to gain a 'set aside' without a reasonable argument could be seen as wasting the court's time, with all the legal penalties that would entail.
If you receive a Claim Form through the post, it's important not to panic. Although a CCJ against your name is harmful to your credit rating, it isn't a criminal matter and won't lead to further action such as repossession of your home or bankruptcy. The CCJ procedure is there so that the court can help to resolve your debt in a way that is fair to both you and your creditor.

Bad Credit : Understanding The Basics

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Many people have heard of bad credit, but some may not know what it means. For a long time, there was no established method for determining the credit activities of consumers. However, this all changed when a company called the Fair Isaac Corporation designed a credit scoring system that is called the FICO score. Because the three major credit agencies have different information on each consumer, the FICO score calculated by these agencies won't be exact.
Your FICO score has become the best way to determine if your credit is good or bad. To get your store, information in your credit report is compared to the credit reports of others. Your future credit activities can be determined by this information. When you apply for a loan, lenders will look at the FICO score to determine if they should allow you to borrow money. Having a low score doesn't automatically mean you won't be allowed to get a loan.
In the past, having any marks on your credit report would cause lenders not to loan you any money. They had no way of determining which borrowers would pay off their debts. With the advent of the FICO score, more people today who have had problems with their credit in the past are now able to apply for loans. Mathematical models allow lenders to study the behavior of borrowers to decide whom they should lend money to. Banks and credit cards companies have taken advantage of this data by making offers to people who have different credit issues.
Those who have problems with their credit can usually apply for loans, but they can expect to have much higher interest rates. The FICO score ranges from about 300 to 850. The closer you are to 850, the better your score is. Statistics show that the average American has a credit score that is about 677. To qualify for loans that have the best interest rates and features, you will need to have a score that is at least 720. If you want to know your credit score, there are a number of services that will charge you a fee for it.
A number of factors go into calculating your score. The most important factor is your payment history. How you make your payments will determine about 35% of your score, which is almost half. Failing to make payments on time is one of the leading causes of getting bad credit. Your payment history includes payments on credit cards, loans, and other bills. Filing for bankruptcy can greatly lower your score.

The amount of money you owe will determine you score as well. People who have too many loans and credit cards will have a score that is lower. If you have a long credit history that is good, this will increase your score. Lenders are much more likely to give good loans to people who have established credit. It is important to understand the different things that affect your credit score, because this could allow you to maintain a high score.
If your credit score is low, this means that you need to start making payments on time. If you have a large number of loans and credit cards, get rid of some of them. Being responsible with how you manage your credit will allow you to keep a high credit score. Lenders will be much more likely to give you the best rates and features on loans. Even if one lender rejects you, this doesn't mean that all lenders will reject you. Understanding credit and how to manage it will allow you to remain financially successful.

Bad Credit? Can't Get a Credit Card? Yes You Can!

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Most people don't give much thought to the importance of credit until they need it.  When they go to apply for a credit card they discover that their bad credit keeps them from getting a card, or a card at a decent rate.  Most people want to pay their bills, and remain in good credit standing.  Nobody wants to be seen as a deadbeat to the credit card companies, but because of a couple of tight financial situations in the past they cannot get approval for a credit card.  There is a way around this problem.
There are a few companies out there that understand your situation, and want to help you to obtain a better credit rating.  These companies offer secured credit cards.  A secured credit card is a card that you make a deposit to which determines your credit limit.  You can use your card just like any credit card, but your purchases are limited to your deposited amount, (similar to a debit card).  Before applying for a secured credit card you must make sure that the card reports to the major credit reporting agencies.  If they do not report then that card is nothing better than a glorified debit card.   In extremely simplified terms when a secured card sends reports to the major credit reporting agencies they are showing that you are paying off your debits, and you are less of a credit risk.

Here's a brief example of how these cards really work.  On the surface it works just like a debit card.  Let's say you made a $200 deposit to your secured credit card.  You then go to the store and make a $20 purchase.  Your account balance is almost immediately reduced by $20 to $180.  The key to these cards is when the credit card company goes to report your information to the major credit reporting agencies, (the better secured card companies will report monthly).  In simplified terms, the credit card company will tell the reporting agency that you made a $20 purchase on your credit card, and it was paid.  As far as the reporting agency is concerned you are making good on your charges.  This is a sign of a good borrower.  Even if you have had problems with credit in the past the reporting agency is seeing that you are now less of a default risk thus bumping up your credit score.  After time you become more appealing to other credit card companies and you will more readily be accepted for traditional credit cards.
Improving your credit is not a quick and easy task.  There are many other things that factor into your credit score, but this is one action that you can take on your own.  A secured credit card may not fix severely damaged credit, but for many people it's a step in the right direction.  It will not make your credit score sky rocket into the upper 700's either.  It will take some time, but it's better than sitting back, passively hoping that things will get better.
*Before applying for any credit card be sure to read, and understand the 'terms and conditions' of the card.

Avoiding the Pitfalls of Business Credit Cards

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For startup entrepreneurs having an excruciatingly difficult time raising capital for their project, borrowing against business credit cards becomes a very real temptation; and sometimes, it is the only option immediately available. The caveat is that if you do not manage your business credit cards wisely, you may end up failing in the venture that you have long wanted to establish. Without proper management, the debts that one incurs from business credit cards will simply pile up.
Business credit cards undoubtedly are very convenient to use. The moment you get approved for business credit cards, you get a guaranteed credit line that you can use virtually anywhere, anytime you need it. In spite of not having the cash, you can purchase what you need for the business with your business credit card. The convenience that business credit cards provide can also be the pitfall; and to the unwary user, business credit cards can be dangerous.
Knowing that business credit cards can be dangerous does not mean to say that you should not resort to using business credit cards to prop up your business. The key thing in minimizing the danger is to use the business credit card wisely, or to use it within bounds.

You might be too excited about a new business and get carried away about making more money and having a better life. But wait! Have you ever considered your fallback options should things not work out as you expect them to be? Remember that filing for bankruptcy is no longer an attractive option; the bankruptcy laws have been amended recently, and it is more difficult now for debtors to escape creditors in this way.
There is a way to avoid the debt trap. You should keep track of purchases you charge to your business credit card — which you can easily do by logging onto your account at the business credit card issuer’s website. You should then work out your payment plan in advance by estimating your cash flow per month, and using this figure to calculate how much you can afford to pay against your business credit card debt. Pay off the entire business credit card balance as often as you can afford to. If that proves difficult to do, try to pay more than the minimum required payment for each month. This is the only way you can stay ahead of finance charges and the very painful bite of late payment fees and default APRs. Unless you have already arranged to remove the personal guarantee you signed in favor of your business, anything that happens to the business credit card account will have repercussions on your personal credit report.

It is necessary – and quite educational, really – that you do comparison shopping on trends in business credit card rates. You must educate yourself about how you can effectively use the float period on purchases, the fees for cash advances and late payments, over credit limit charges, balance transfer fees, and penalties for late payments. Then, there are also the annual fees: some business credit cards charge annual fees while others do not. There is a lot of information about business credit cards on the huge variety of websites devoted to the subject. Manage your business credit cards well, and they will help you finance your business.

Avoiding Credit Card Wipe-outs: How To Succeed With Rate Surfing

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Rate surfing can be a good way of reducing debt but there is a risk. To avoid long term damage to your credit rating, it's best to make sure you do it right. Rate Surfing Research
First of all, start by researching the current credit card rate offerings to see which one is best for your circumstances. Many people opt for the 0% interest deals, as these allow them to apply the payments the make to clearing any outstanding debt. These deals usually last for a limited period (between three and 12 months), so canny rate surfers will need to be on the lookout for the next deal.
Keeping Track Of Credit Card Interest RatesWith rate surfing, it is essential to move to the next card before the reduced interest period runs out. If you don't, you could find yourself with hefty payments to make. If you're surfing with many credit cards, you'll need to keep track of the different offer expiry dates so you don't get caught short. Keeping track of these dates can be as simple as writing them down on a piece of paper.
The more technically savvy may prefer to use a spreadsheet for this purpose. Whichever system you use, it’s worth using a calendar to keep track of the dates when you need to apply for new cards and move money. If you have an electronic calendar, set up automatic reminders for these dates. That means you will always know when it's time to make the next credit card balance transfer.
Finding cards to move to is relatively easy, as there are several websites that offer comparisons of credit card deals. The same sites will also show you whether the 0% credit cards offer other incentives, such as air miles, vouchers, cash back or charitable contributions.
Balance Transfer FeesOne factor to think about is the rate charged for the balance transfer. With rate surfing becoming more popular, many credit card companies are charging a one-off balance transfer fee of approximately 2% of the sum transferred. This can soon add up when you are transferring large sums or working with several credit cards. There are still a few cards that do not charge this fee, so it's worth shopping around to find one.Organise Your Rate Surfing

Organisation is the key to successful rate surfing. For example, it may be worth automating your credit card payments by setting up a standing order through your bank. That way you can be sure that your credit card bill will always be paid on time, and there won't be any danger of damaging your credit rating.Rate surfing works best for those who intend to clear a debt. Adding more money to a transferred balance will not help with this goal. In addition, credit card companies may charge a different interest rate on new spending. This could increase, rather than decrease, the debt. With a bit of organization, most people can manage to reduce their levels of debt through rate surfing.

Avoiding Credit Card Traps

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The next time you open your credit card statement, take a closer look at the small insert titled “changes to your credit card agreement”.  You know the one I’m speaking about.  It’s that small, folded paper written in legalese that you promise to read some other time (but of course that time never comes) or you just discard it with the other “junk” inserts.
First and foremost you must understand that using your credit card after you’ve received this notification results in your automatic “agreement” to the new terms in the notice. To prevent these new terms from affecting your account you must stop using that credit card immediately or by the date given in the notification statement.
The most common modifications to credit card agreements include new APR’s (annual percentage rates),  new fees and/or changes to existing fees, or a change to the grace period on your account.  The grace period is the number of days during which any credit used for purchases may be repaid in full without incurring a finance charge.

Not knowing or not keeping track of the dollar amount limit on your card is another trap you should avoid.  Credit card issuers will allow you to charge a small amount over the limit set on your account.  However, don’t be surprised when you get hit with an “over limit fee”, usually around $35.00 or higher, on your next statement.  Also, be prepared for your APR to be increased if you go over your credit limit.You’ll also trigger an increase to your interest rate if you miss your payment due date.  Some companies consider your payment late if not received by noon or 1 p.m. on the date due.  Along with the higher rate, you’ll also pay a “late fee” of $29 on up.  Be sure to use the company’s preprinted envelope when sending your payment.  These envelopes allow the pre-printed bar code to be scanned by the post office so that it can be delivered more efficiently.
If you’ve counted on those few extra days from the time you mail your check and the time the check clears your bank, beware!  Many credit card issuers have switched from the traditional method of processing checks to a new electronic process. This new system shaves off a day or more from the traditional method it normally takes for your check to clear by electronically debiting your account.
If you’re considering paying your credit card bills online, check to see if any additional fees will be charged for using this type of payment.  I recently received an e-mail message from one of my credit card companies announcing how easy it would be to make my payments online.  Included in fine print at the bottom of the e-mail was this note -  “A fee of up to $14.95 may be charged for this service and will be deducted from your checking account”.  Hmmm, spend 37 cents on postage and mail my payment five days before the due date or pay now and get charged an additional $14.95 fee?  I’ll bet you can guess which choice I made.
Taking the time to carefully read and understand your credit card agreement now will help you save money by avoiding unnecessary fees or climbing interest rates later down the road.

Avoiding Credit Card Scams

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If you are a first time credit card user or have had credit cards for years, it is important to know about possible scams that you can be exposed to. Although many credit card companies are perfectly honest, there are also many dishonest ones who want to rip you off. If you are unaware of the ways in which you can be conned or misled then you could end up losing a lot of money. Here are some of the worst credit card scams around and how to avoid them:
Debt suspensionDebt suspension offers are sometimes offered by banks as a way to ‘help’ you keep on track with payments. The way debt suspension works is that you pay a certain amount each month so that if you cannot pay your bills then no interest will accrue during this time. Although this might seem like a good idea at first, the benefits are really quite minimal. You cannot use your card whilst you are out of work, and although no interest is being added, your payments are not being paid so once you can work again you still have the balance to pay. In essence you are paying money for something that will not really help you. If you are getting a credit card then make sure that this type of debt suspension offer is not included at a cost to you within your payments. If it is then get it removed and find an independent insurance policy that will help with your payments if you are unemployed.

Advance feesOne of the worst scams around is the advanced fees scam, which targets people are desperate to get hold of a card with good rates. The ‘lender’ will offer you a card at a great rate, but the catch is you have to pay them an administration or approval fee up front so that your application is processed. Once you have paid this fee then you probably will never hear from the company again. If you are ever offered a card but are asked to pay a fee upfront, just refuse. Even if you have poor credit you shouldn’t need to pay fees up front for cards. A lender should either accept or reject your application, and fees are not required.
Credit protectionOne of the most common scams around is to add expensive credit protection to your card in case it is lost or stolen. The extra money you pay for this protection is usually very high, and often covers you for very little. If you report your card stolen immediately then it is unlikely that you will lose much, and other insurance policies or consumer laws often cover you already. If you really want protection then get a separate policy from an independent company that will work out a lot cheaper and will allow you to protect all your cards at once.If you are getting a credit card, then remember to check and double-check all clauses within the agreement you are signing. If anything seems suspicious at all, then do not sign and find a different company. As long as you are aware of the dangers you will find a fair and honest credit card company who can give you great rates.

Avoiding Credit Card Penalties

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It is a sad fact of life that credit card companies are very willing and fast to slap a penalty charge on your account for every mistake, delay and slip up you cause, immediately and without a second thought. These penalty charges can amount to millions of dollars taken from consumers each month. They are a necessary part of all credit card operations and are fair in the sense that it means that customers who do everything correctly and on time are not penalised for the extra work and expense that other customers cause, but what you will want to do is make sure you are not one of the unlucky customers that is paying for these extra expenses. The best way to avoid these penalties is to look at the entire situation from the point of view of the credit card company. Really, all they want from you is to keep your card safe, to stay within your credit limit, and to make at least your minimum payment, on time every month. If you manage to do these simple tasks you will avoid ever incurring a penalty on your account.The problem is that it is very easy to slip up on these things. It’s not easy at all to keep track of your outstanding balance, especially as we use credit cards for more and more things and companies begin placing holds and other such transactions on customers accounts without them necessarily knowing or understanding about them. Then there is the fact that it is very easy to forget or become late on a payment.

Every one has busy periods in their life and sometimes we simply have other more important things on our minds than paying our credit card bill on time. Some people are less organised than others and for them it can be very difficult making sure all their credit cards are paid out in full and on time. If your card is lost or stolen without any fault on your part, and you call your credit card company as soon as you find out, you will only be liable for a maximum of $50 dollars. And if you manage to let the credit card company know before any thing has been spend on your stolen card you will not be liable for any thing. This is also the rule that applies for identity theft and fraud so you can feel safe using your credit card online. Taking a few simple steps can mean you are virtually never subjected to credit card penalties.

Avoiding Credit Card Fraud.

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Credit card fraud is becoming more and more of a problem, and if you are not careful then you could lose money to fraudsters. If you are worried about fraud but are unsure how you can protect yourself and your credit cards, then this article could help you. Here are some useful tips and advice about how to protect yourself from credit card fraud:Methods of fraud
The methods and types of fraud are increasing as criminals learn new techniques and get improved technology. The most common methods of fraud today include:
·Copying and ‘cloning’ of cards
·ATM fraud
·Internet card fraud
·PIN number stealing
All of these methods are used more commonly than ever before to effectively steal your money. Obviously, it is impossible to totally eliminate the problem of credit card fraud, but there are things you can do to greatly reduce the risks.
Keep cards closeMake sure that you never let your cards out of your sight. Never leave cards unattended, and certainly don’t lend your card to anyone. If you are paying in a restaurant or shop, make sure you pay attention as to where your card is. A common method used to copy your card is to get the details whilst you pay, so keep an eye on your card at all times.
Check receiptsWhenever you get a receipt or a credit card bill, check that all the items and amounts are correct. If there are any amounts that you are unsure about, contact your card issuer immediately. Any paperwork that you throw away should be disposed of properly. Shred documents so that people cannot go through your rubbish and discover your card details.

Look behind youWhen withdrawing money from a cash machine, make sure no one is looking over your shoulder to read your PIN. The easiest way for someone to use your card illegally is to see your PIN and then steal the card. Also, make sure you never keep a written record of your PIN, especially near your cards.Use reputable firmsWhen buying on the Internet, make sure that you only purchase items from large and well-established providers. Small or unknown providers should be avoided as even if they are genuine, their security and encryption may be poor and allow fraudsters to access your details.
Keep contact numbersIf you have your card stolen or you think you have been the victim of credit card fraud, then you need to sort the problem out as quickly as possible. Keep all the contact numbers for your card issuer in a safe place so that you can call them up and sort out problems immediately. If you are careful and act quickly, you can limit the damage of fraud or prevent it occurring at all.

Avoiding Credit Card Fees

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Credit card bills can be expensive. Sometimes they can be simply too expensive. Depending on how you use your credit cards, and how much you spend, and how disciplined and controlled you are over your own spending, you may or may not have trouble paying your credit card bills when it comes to the end of the month and the bill arrives in the mail. No matter what your situation is however, there is always one thing you will not, under any circumstances, want to see on your monthly credit card bill, and that is a credit card fee.There are different types of credit card fee and different reasons for incurring them, but the good news is that many of them can be avoided by simply following a few simple rules and keeping on top of your finances and bills. The most important way to minimise the fees you receive from your credit card company is to pay your bill on time and in full each month. Generally if you do this, you will be charged no interest of finance charges at all, and will be receiving all the benefits of a credit card and over a month of credit absolutely free. If you are one of the lucky customers who can manage to maintain your account in this way, you will be very lucky.

However, many people cannot pay their account in full each month, therefore, they incur the most common of all credit card fees, and this is finance charges. Credit card companies actually charge very high interest rates to their customers so if you have the option of borrowing in other ways that may be cheaper it is recommended that you use these methods if you are planning on needing the money for more than a couple of months. It is far cheaper to pay back a short-term loan than to maintain a large credit card balance. Another credit card fee is a late fee for when you are late in making your monthly payment. Many people who have more than enough money to make their repayments simply through a lack of organisation miss payments and incur large fees. If you are late in making your repayment because you don’t have enough money to make it you may need some debt counselling or other advice to help you manage your way out of this situation. There are many other fees that your credit card company can impose upon you depending on the company, but being aware of how they are calculated and what sets them off is probably all you need to know to be able to avoid incurring them in the future.

Avoiding Credit Card Debt? Preventive Medicine is Best

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Credit card debt is one of the most wide spread financial problems throughout many countries of the world. The convenience of using credit cards, combined with the special offers, discounts and reward systems offered by the credit card companies make this method of paying for goods the number one favorite for hundreds of millions of people. However, irrational spending or simply gradual uncontrolled spending habits can lead to a lot of accumulated debt. Preventing this is essential, as it is much easier to avoid credit card debt problems before they grow strong, instead of battling them when they are already at maximum intensity. The temptation to use credit cards repeatedly a fact that is also supported by the reward systems and lower monthly payments - will often lead to debt problems. Here are a few tips that will help you use your credit cards more wisely and enable you to prevent the unpleasant situations of having to pay off credit card debts:  Set your budget create a framework for a monthly budget, as this will enable you to get a better sense of what your earning and spending balance is. Much notice that they simply can't stick with the planned budget in this case you should leave your credit card at home when going shopping, and use cash instead. Try to pay as much of the balance for each month. Don't settle for the minimum payment, as that will gradually develop into credit card debt as you are loosing quite a lot of money to interest rates. Always remember that your credit card is a cash substitute, nothing more. You can either carry a balance, which comes with a high interest loan or you can make the minimum payments. Although the amount of the minimum payment seems insignificant (it is usually around 3% of the entire balance), this approach will gradually put you in debt. The credit card company accepts such low payments because they get their money back from keeping you in debt for an unlimited period by using high interest rates. Many studies have been carried out on the psychology of the credit card owner. We tend to spend more than we can afford, own things that are above our financial reality levels and gratify an immediate need with a debt that might take years to pay off. Try to adapt your spending habits to your life style and earnings. If you can't pay off the balance on a monthly basis, then you are going into a vicious circle of overspending and credit card debt. Don't use the credit card anymore, until you pay off the outstanding balance.

You should also make sure to pay it off on time, as there might be late fees and different other financial penalties that will further complicate your debt problem. Your credit record will also get damaged if your payments are inconsistent and you are often late with them. Prevent credit card debt by making sure to keep your finances simple. Use only one or two credit cards, if possible. The more cards you have the higher are the chances that you will not be able to pay them off in time. Never pay off one credit card balance with another credit card. If this happens, you need to drastically change your spending habits and come up with a good credit card management plan. Cash advances might sound attractive, but the truth is that they come with higher interest rates and you don't get a grace period. There are also transaction fees to worry about.
The credit industry is extremely dynamic, and credit card issuers are always trying new ways to convince more people to sign up with their services. Different forms of rewards, life insurances, protection plans or point systems were created to make the credit card plans more attractive. Make sure you don't let your emotional side dictate when you make a credit card related decision. Getting free gifts or free air miles sounds amazing, but is it really worth it? Try to base your choice on hard facts and a realistic financial plan, not on an advertising created fantasy.

Avoiding Big Problems with a Little Time Spent Transferring Balances

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Balance transfer credit cards can be many things. On the surface, yes, they excel as credit cards that permit an individual to consolidate his or her other credit card balances onto one piece of plastic, but what else can they do? Not much research has been done into the question, though I am thoroughly convinced they can be used as a method to cut down on crime. Allow me to explain.
Let's say, hypothetically, I happened to be in serious credit card debt. Like many Americans, I took out more credit cards to pay off old ones, effectively closing myself in a nasty little circle. Having multiple cards, I was getting charged interest rates and late fees on each one, killing my chances of ever paying them all off.
The stress and strain of always worrying about my finances began to wear down on me. Nights would go by where I could not sleep, partially due to my worrying, and partially because I couldn't stop planning witty retorts for creditors that were calling me at all hours wondering just where the hell their money was. Oh, yeah, this is hypothetical still. Really.
So finally on a rainy Tuesday in the awful month of March, I snapped. How it happened was kind of funny. See, I was getting paranoid, probably from not sleeping. I started confusing the creditors with my company's upper management. Anyone wearing a suit that cost more than $300 became suspect. So my boss called me in for my annual review and strategy brainstorming. I sat there white-knuckled, pouring sweat, as he talked about things like "trimming the fat" and "hunting down clients that haven't paid like the savages they are." I thought the hammer was coming down, so I seized him by his trendy tie and comb-over, threw him into his charity golf event trophy case, and fled the scene.
Knowing I was guilty of assault, I proceeded to lose all self control. I began, again, hypothetically (I swear), robbing liquor stores and girl scouts on their cookie routes all across the country. I thought if I could steal enough money to pay off my multiple credit cards, I'd be free of my nightmare. Ironically, the real nightmare was when I ended up spending five nights in a Reno prison for mugging an old woman that was really a 25 year old cop who had a thing for off-duty cross dressing.

Now how could I have avoided this entirely untrue story that did not occur two months ago? Well, I could have not been born a complete maniac, yes, though there is another way. Let's pretend I had transferred all of my credit card balances onto a balance transfer card. With only one interest rate, and hopefully no (but probably one) set of late fees, my debt would have been easier to carry and manage. If I had done that, perhaps I wouldn't have come to know an ambitious cell mate named Benny who kept mistaking me for a woman named Rita.
The point I want to make, aside from stay away from poorly dressed bag-ladies in Reno, is that balance transfer cards are a convenient answer to a common problem. Plenty of people I know have taken out multiple credit cards to pay off other cards. If you find yourself in such a cycle, consider loading all your troubles onto one balance transfer card. Or, you could always do what I did. What I hypothetically did. Yes. Right.

Avoiding Bad Credit and Repair

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Staying in contact with your payments each month can help you avoid bad credit. If you research the marketplace before coming to a purchasing decision, you are well on your way to avoiding bad credit and repair credit hassles.
You want to consider all applications, including credit cards, student loans, mortgages, and car loans carefully to avoid being overcharged. Making the wise decision ahead of the game is the ultimate solution to maintaining good credit.
Most people when taking out a home mortgage loan are not aware of the options available to them. Many will walk in the bank door, fill out the application, and accept the terms & conditions when offered to them.
If you ever heard the many reports that swept the pages of newspapers, television and other advertising sources…families and individuals are filing bankruptcy because they cannot afford their homes anymore. This is because these people did not take the time to check the marketplace first and searching the options available to them.
As you can see, the millions reported are in debt and searching for a way to repair their credit. The solution then to avoiding bad credit and repair is to research, invest wisely, make good decisions, and budget. Being informed and educated is two of the best tools offered to us.
There are mortgage loans that offer overpayments and underpayments and these loans include vacation packages and lump sum payments to the borrowers. There are also other loans available that offer low mortgage monthly installments and low interest rates with insurance policies attached that will pay your mortgage if you are sick, unemployed, in an accident and so on.

On the other hand, there are mortgage loans that have high interest rates, high mortgages, and balloon payments attached.  When balloon payments are attached to home mortgages it is almost guaranteed in a few years you will be searching for a solution to repair your credit.
There are very few home lenders willing to tell you the truth about the variety of home loans available. Most of the lenders are making money and you are a source of income. It is important to scope the terms & agreements carefully as well as reading all fine print on any loan contract before you sign. If you want to avoid bad credit and repair, you want to stay on the right path.
Loans are agreements that are made between two parties and attached are interest rates and other fees. If you are applying for a home loan and want to avoid bad credit, it makes sense to learn what the fees include and how much those fees are.
Anytime you take out a mortgage loan there are upfront fees attached. In some cases, you can get a home for little or no cost. Searching the marketplace can save you time and money.

Avoid The Sting If Your Credit Get Blocked

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Most Frequent travelers know all about credit card blocking, many from painful first hand experience. Hotels post notices of their policy regarding blocking, usually in the form of an obscure plaque some clerks will point to when an inquisitive visitor checks in. Car rental companies rapidly recite their policy to callers wanting to reserve an SUV for the family vacation. Still hundreds of unsuspecting consumers will feel the pain of credit card blocks every day. So what exactly are these blocks?Credit card issuers, as a way to reduce their risk, can set aside or "block" an anticipated future charge. This block is not immediately charged to the account but it reduces the amount of credit available. Plus the amount of the block may be more than expected as the bank may add in additional estimated charges such as gasoline for a car rental or food for a hotel stay. Even a pay-at-the-pump transaction can cause a $100 block to be placed on a card. These blocks or "holds" can cause for some rather difficult imes if you unknowingly end up in the wrong situation.Suppose you are flying to Las Vegas for the weekend. Assuming you have not yet acquired high-roller status, you will need to reserve a flight, car rental and hotel room. Each of these reservations will cause a block to be placed on your ever-faithful rewards credit card. Then in an effort to smooth-over the news of your impending excursion, you take your significant other to the finest restaurant in town. Imagine your surprise when waiter lets you and the patrons in a two-table radius know your charge has been declined.Another, and even more heinous scenario, would have the person securing these future charges with a debit card. Each reservation would have placed a block on the checking account underlying the credit card. Then the flowers, dinner, cab fare and concert tickets would have all generate separate overdraft charges. Not to mention any checks clearing during the time the blocks are in effect. Ouch.The most logical way to avoid any blocking problems is to maintain a balance well below the usable limit of your credit card. additional benefit is the block transactions provide activity on the spare card furthering its value as a tool to enhance your credit score.Like many credit related issues, knowledge and a little foresight can go a long way in preventing unexpected problems and expenses. Now that you have the knowledge, this would be a good time for a little pro-active action to ensure you do not fall into the credit blocking trap.

Although this is prudent advice it may not always be practical considering the somewhat undefined amounts and timing of the blocks. One tidbit that is unwavering is that reservations should not be placed on a debit card. Ever.Another potentially better technique to avoid this trap is to have a spare credit card. A method employed by many, a spare credit card can be used to place all the reservations thereby protecting the available credit of your preferred card. Then when the actual charges are made the favorite card can be used and any rewards can be accumulated. An

Avoid Payment Holidays When Offered

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Once you’ve been paying off a credit card for a while you might be offered a ‘payment holiday.' You’ll get a letter stating that since the company knows it’s difficult for some families around Christmas they’re offering you a month off from paying as a ‘special present.'Why Would They Do That?Offers of payment holidays typically have a very high acceptance rate. People think it’s great that they can take a month off from the stress of paying back debt. What they don’t usually realize is that these ‘holidays’ aren’t a present at all. They’re a great money-spinner for the credit card company. For the company it’s a win-win situation. They get to make big profits just by making their poorer customers happy.How Can Letting Me Off Paying Earn Them Money?
That's the trick. If you read the small print you’ll find that the payment holiday isn’t interest free! You’re still being charged interest. And, since you’re not paying anything back that month the interest will be there next month for you to pay interest on - called compound interest.
This is interest paid on interest. That might feel a little hard to grasp, so here’s an example. Let’s say you were paying back $1000 of debt at 1.5% per month, about 19.5% per year. Your minimum payment each month is 2% or 26.82% per year.If you pay the minimum for all 12 months of the year, then you will pay back $233.51 and owe $941.62 at the end of the year. Your debt has been reduced by $58.38 and you’ve lost $175.13 in interest.With the payment holiday though, you pay 2% per month for only 11 months.

So, you pay 24.3% back on the debt over the year. That’s $217.80, and you’d owe $960.55 at the end of the year. Overall, you’ve paid $37.86 for your payment holiday from a payment of about $20. In other words, your month off cost you almost two months of payments!
Don’t worry if you don’t understand all the math. It’s been deliberately designed by mathematicians and marketers to be as confusing as possible, to stop you working out what a bad deal you’re getting. Just remember, don’t fall for it. The more you owe the more that ‘holiday’ will cost you.
If It Sounds Too Good to Be TrueAnytime they offer you anything, it’s because they’re going to make a profit on it. If you can’t see where their profit is coming from, be suspicious.

Avoid Payday Loans to Repair your Credit

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If you are trying to make ends meet and are having past due bills pile up, the last resort you would want is to take out a payday loan to pay your dues. There are many sources available today that offer payday advances.  To get a quick payday advance loan, you can connect online with many payday advance loan companies.  Most payday loan companies do not check credit so even if you have bad credit or no credit, you can still apply for a payday loan. The loans are issued after you show proof of banking account, Social Security, Driver License and Pay stub proofs. This information is used against you, often the lenders will deduct money from your accounts including interest, and principals that apply to each loan you take out. If you are applying for a payday loan online…Beware…Some of the sources are not even institutes that specialize in payday loans. When you are trying to repair your credit, the last thing you need to do is spend money that is not necessary. When you borrow money from payday loaners, your personal information may not be private. Since many of the lenders are outside of the United States and are out of government regulations, your information just might fall into anyone’s hands. This puts your credit at great risk.  You would be wise to perform some extensive research to ensure the payday loan institute is valid and trust worthy.

Payday loans offer you a loan against your paycheck, but the downside is you will be paying higher fees to get the loan.  You could be wasting money and taking a chance on your identity.  Some payday loan companies offer a "free" loan to their new customers i.e. no fees as long as the loan amount is paid in full on its due date. If you are searching for help to repair your credit, it might be wise to search the market for legitimate resources that will help you restore your credit at little or no cost to you. There are Debt Counselors and Debt Management Companies available that assist people with credit repair but the best source is you. You might be wise to check out government options that are available to people with bad credit. Many services are available to help you repair your life. The best solution is keeping up to date on your bills if possible or minimizing your monthly installments by opting for credit cards that have no fees attached and low interest rates. If you have a credit card, or else applying for a credit card avoid charging items to your cards unless it is absolutely necessary. You might want to apply for a different credit card if you card has high interest rates and discontinue your old card once you receive your new card.  In some cases, depending on your credit card history, you could call your credit card company and ask them to reduce your interest rate.  If you have had a good history with the company, they will most likely oblige.If you suspect that someone has access to your card be sure to contact your provider immediately to report the card lost or stolen.  Always keep this information in close vicinity to ensure a quick response.  Be sure to only provide your personal information to those you trust i.e. Social Security Number and Bank Account Number. Never give information pertaining to you freely especially over the phone.  If you are considering a loan to payoff your debts, check the market first before applying.  The more applications you complete, the more it applies against your credit report. You might want to cut back on your utilities, i.e. reduce your heat or air conditioning, to save funds that can be applied to your bills.

Avoid Payday Loans to Repair your Credit

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If you are trying to make ends meet and are having past due bills pile up, the last resort you would want is to take out a payday loan to pay your dues. There are many sources available today that offer payday advances.  To get a quick payday advance loan, you can connect online with many payday advance loan companies.  Most payday loan companies do not check credit so even if you have bad credit or no credit, you can still apply for a payday loan. The loans are issued after you show proof of banking account, Social Security, Driver License and Pay stub proofs. This information is used against you, often the lenders will deduct money from your accounts including interest, and principals that apply to each loan you take out.
If you are applying for a payday loan online…Beware…Some of the sources are not even institutes that specialize in payday loans. When you are trying to repair your credit, the last thing you need to do is spend money that is not necessary. When you borrow money from payday loaners, your personal information may not be private. Since many of the lenders are outside of the United States and are out of government regulations, your information just might fall into anyone’s hands. This puts your credit at great risk.  You would be wise to perform some extensive research to ensure the payday loan institute is valid and trust worthy. Payday loans offer you a loan against your paycheck, but the downside is you will be paying higher fees to get the loan.  You could be wasting money and taking a chance on your identity.  Some payday loan companies offer a "free" loan to their new customers i.e. no fees as long as the loan amount is paid in full on its due date.

If you are searching for help to repair your credit, it might be wise to search the market for legitimate resources that will help you restore your credit at little or no cost to you. There are Debt Counselors and Debt Management Companies available that assist people with credit repair but the best source is you. You might be wise to check out government options that are available to people with bad credit. Many services are available to help you repair your life. The best solution is keeping up to date on your bills if possible or minimizing your monthly installments by opting for credit cards that have no fees attached and low interest rates. If you have a credit card, or else applying for a credit card avoid charging items to your cards unless it is absolutely necessary. You might want to apply for a different credit card if you card has high interest rates and discontinue your old card once you receive your new card.  In some cases, depending on your credit card history, you could call your credit card company and ask them to reduce your interest rate.  If you have had a good history with the company, they will most likely oblige.If you suspect that someone has access to your card be sure to contact your provider immediately to report the card lost or stolen.  Always keep this information in close vicinity to ensure a quick response.  Be sure to only provide your personal information to those you trust i.e. Social Security Number and Bank Account Number. Never give information pertaining to you freely especially over the phone.  If you are considering a loan to payoff your debts, check the market first before applying.  The more applications you complete, the more it applies against your credit report. You might want to cut back on your utilities, i.e. reduce your heat or air conditioning, to save funds that can be applied to your bills.

Avoid credit card traps

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If you’re like most Americans, offers for credit cards arrive in your mail on a daily basis. Why are credit card companies so eager for your business? There are many reasons.
Credit cards, for one thing, are not free cash. Funny enough, many customers think of them this way, and that—aha!—is how credit card companies make their money.
You’ll notice when you read through the fine print about credit cards that there are varying APRs, or annual percentage rates. This refers to the amount of interest you’ll pay on credit card charges if you don’t pay your monthly balance in full. Think about the last time you went shopping. Did you look at the tags and make sure everything you bought could be paid with your monthly paycheck? If not, you are a credit card company’s dream come true. You see, these companies bank on the chance that consumers will use their credit cards to buy more than they can actually afford at the time of purchase. When the bill comes and it can’t be paid in full, the customer pays interest on this borrowed amount, and that interest accrues daily. This money goes right into the credit card company’s bank account. With thousands of customers falling into this predicament on a monthly basis, you can see where the companies get rich quick.But how can you avoid falling into the credit card trap? A little forethought and budget planning can help you prevent paying interest and still allow you to benefit from credit card perks.Take mileage credit cards, for example. Most airlines offer credit cards that earn you frequent flier miles based on the number of dollars you spend. Enticing, right?

Sure. Just be careful to know how much you are able to spend in a month, and don’t let yourself go over the top. It’s easy to check your credit card balance online or by telephone. Know when the closing date is for your monthly statement, and make sure you stay below your limit. That way you can take advantage of the bonus without digging yourself into a rut.Speaking of the credit card rut, let’s go back to that interest thing. Did you know that interest, if left unpaid, also accrues interest? Take a look at this example.  You have racked up $10 in interest on your credit cards in one month, based on a balance of $100. (This assumes a 10% monthly interest rate.) Because you leave that unpaid, the next month’s interest accrues on the new balance of $110. That means the next month you owe an additional $11! That’s a $21 total fee for your $100 in purchases. Did you really find a bargain when you bought that jacket at 20% off? Probably not.
If you buy responsibly and keep track of your purchases, you can avoid credit card traps. Be a smart consumer, and credit cards can work in your favor.

Avoid Credit card frauds

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With overwhelming use of credit cards, there is a need to keep check on the increasing credit card fraud that is dramatically rising on the internet.  Internet users know that it is safe to enter their credit card number on a secure online form rather than giving it in a restaurant to pay off. Research shows that there is increasing number of fraudulent cases where purchases are made by mobile phones on account of credit cards of other persons that are higher than credit card fraud on the internet.
As a rule of thumb, you need to use some common sense and there are some tips that shall help you in avoiding credit card scams:
1. Always keep an eye whenever you use your credit card and get it back quickly if you have given it to some other person and try not to let your card out of your sight.
 2.You need to be careful while you give your credit card to someone else and never give your account number over the phone unless you are sure that the company is a reputed one. Also it is not safe to give the credit card number over phone to any company who asks you for the same seeking excuses such as “computer problem”.
 3.  Don’t give any response to emails asking you to provide your credit card information and emails that ask you to go to a website and verify your personal and credit card information as these are known as “phishing” scams.
4.Don’t provide your credit card information over insecure websites.
 5. You should sign your credit card as soon as you receive them and shred all the credit card applications when you receive.
 6.  You should not write your Pin number on the credit card or anywhere near your credit card.
 7.  Don’t leave your credit cards and receipts lying all around.
 8.You should shield your credit card number so that others who are around you could not copy or capture it on a mobile phone or camera.

 9. Always keep the list of your account numbers and expiry dates and phone numbers along with addresses of each bank issuing you a credit card at safe places. You need to update this list each time you get one new credit card.
 10 Try to carry only those credit cards that you require and don’t carry extra credit cards that you need rarely.
 11.  You should promptly open your credit card bills and make sure that there is no bogus charge involved.  You should also treat your credit card bill in the same way as you check your accounts and reconcile it monthly. Save your receipts so that you can compare them with monthly bills.
 12.  In case, you find any charges for which you don’t have a receipt or one you don’t recognize you need to report these charges to the credit card issuer.
13.  You should destroy and void incorrect receipts and shred anything with your credit card number written upon it.
 14.  Don’t sign a blank credit card receipt and you can carefully draw a line through the blank portions of the receipts where there is chance to add any fraudulent charges.
15. Even though carbon paper is not much in use but if there is any carbon used in a credit card transaction you should destroy it immediately.
16. Don’t write your credit card account number in a public place for example a postcard or from a place that it is evident to others.
 17.  Its good if you carry your credit cards separately from your wallet.
18 Never lend your credit card to others and if you move from your existing residence, do notify your card issuer about the change in address.
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With overwhelming use of credit cards, there is a need to keep check on the increasing credit card fraud that is dramatically rising on the internet.  Internet users know that it is safe to enter their credit card number on a secure online form rather than giving it in a restaurant to pay off. Research shows that there is increasing number of fraudulent cases where purchases are made by mobile phones on account of credit cards of other persons that are higher than credit card fraud on the internet.
As a rule of thumb, you need to use some common sense and there are some tips that shall help you in avoiding credit card scams:
 1. Always keep an eye whenever you use your credit card and get it back quickly if you have given it to some other person and try not to let your card out of your sight.
2.  You need to be careful while you give your credit card to someone else and never give your account number over the phone unless you are sure that the company is a reputed one. Also it is not safe to give the credit card number over phone to any company who asks you for the same seeking excuses such as “computer problem”.
 3.  Don’t give any response to emails asking you to provide your credit card information and emails that ask you to go to a website and verify your personal and credit card information as these are known as “phishing” scams.
 4. Don’t provide your credit card information over insecure websites.
 5. You should sign your credit card as soon as you receive them and shred all the credit card applications when you receive.
6. You should not write your Pin number on the credit card or anywhere near your credit card.
 7.Don’t leave your credit cards and receipts lying all around.
 8. You should shield your credit card number so that others who are around you could not copy or capture it on a mobile phone or camera.
 9.Always keep the list of your account numbers and expiry dates and phone numbers along with addresses of each bank issuing you a credit card at safe places. You need to update this list each time you get one new credit card.
10. Try to carry only those credit cards that you require and don’t carry extra credit cards that you need rarely.
 11  You should promptly open your credit card bills and make sure that there is no bogus charge involved.  You should also treat your credit card bill in the same way as you check your accounts and reconcile it monthly. Save your receipts so that you can compare them with monthly bills.
 12. In case, you find any charges for which you don’t have a receipt or one you don’t recognize you need to report these charges to the credit card issuer.
 13. You should destroy and void incorrect receipts and shred anything with your credit card number written upon it.
 14. Don’t sign a blank credit card receipt and you can carefully draw a line through the blank portions of the receipts where there is chance to add any fraudulent charges.
15.  Even though carbon paper is not much in use but if there is any carbon used in a credit card transaction you should destroy it immediately.
16. Don’t write your credit card account number in a public place for example a postcard or from a place that it is evident to others.
 17.  Its good if you carry your credit cards separately from your wallet.
 18.  Never lend your credit card to others and if you move from your existing residence, do notify your card issuer about the change in address.

Avoid Credit Card Balance Transfers Pitfalls

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Despite many card providers suffering falling profits and staggering rises in the level of bad debts, competition is still rife within the market and providers continue to launch headline ‘best buy’ deals. Andrew Britchford, credit card analyst from Moneyfacts.co.uk explains how consumers can avoid some of the common pitfalls associated with credit card deals and make the best of the offers available. Choosing the right card can be more complicated than you may think.“When choosing a credit card there are many factors to consider in addition to the rate, including introductory offers, balance transfer deals, fees, incentives and, if you dare to venture into the small print, the number of interest free days, repayment order and how the interest is charged. These factors can soon reduce the benefits of an apparently great deal.“Consumers looking for a multi purpose card may find it difficult to find a card that offers competitive terms across the range of account facilities. Providers often dangle one carrot by way of a competitive deal either on balance transfer rates, introductory or standard purchase rates in the hope the consumer will feast upon other facilities, and this is often where providers can earn.“One key factor and one that is not commonly considered, is the order of repayment. By this we mean, if the consumer has items of their bill generated by different means, for example cash advances, balance transfers or purchases, if a partial repayment is made, what does it repay first? Does it repay the first transaction by date order or by the order of cost?“A prime example of how the repayment order affects an offer is the current deal, reportedly only a trial at present, available online via the Capital One platinum card. The new card offers a market leading 15 months’ 0% on balance transfers, but the seemingly small condition of having to spend £100 on purchases before 1 July makes it almost impossible to obtain this deal in full. By encouraging consumers to use the card for dual purpose, consumers could potentially see their 0% deal vanish.“The catch lies in the order of repayments. A dutiful consumer making their £100 purchase, then fully repaying this on their next statement will probably expect to pay no interest. But this is not the case – the £100 repayment would go towards repaying the balance transfer, while the £100 purchase would remain accruing interest of 15.9% until the combined total of the balance transfer and balance is fully repaid (assuming no further transactions).“This may only seem a small amount, but when paid by all customers and sometimes on much greater amounts, it will soon mount up. Combined with an uncapped 2% balance transfer fee, this is a potentially lucrative area for lenders.“If we take a worse case scenario, a consumer who, within their first month, transfers a balance of say £2K, and who then makes purchases of £2K. When their first statement arrives, they make a repayment of £2K to clear what they think is their purchase spend. However they will in fact be repaying their balance transfer, leaving the consumer with a balance of £2K accruing interest and a vanishing balance transfer deal.
“Capital One is by no means the only provider to apply repayments in this order. In fact only HSBC, Nationwide BS and Liverpool Victoria use the ‘customer friendly’ option and repay the most expensive items first. However, it is important to note that other providers do not actively encourage purchasing on a card designed for balance transfers.“Consumers should take the time fully to understand the deal they are entering into. With so many cards available on the market, they should find a deal which matches their spending needs. Trying to avoid mixing card usage, and keeping separate cards for purchases and balance transfers will enable consumers to maximise their savings.”

Avoid Being the Victim of Credit Card Fraud

Functional Fitness Solution

Are you aware of how many ways there are for thieves to take access of your credit card accounts and make unauthorised charges against your account? Simply by rummaging through old receipts that you have thrown out or left somewhere public, or by a shop assistant quickly scribbling down your card details while they are out of your sight, or by an untrustworthy seller who you give your details to on the phone, by mail or on the internet, your private account details can be taken and abused by anyone.
While most of these situations are quite rare, and there are safety measures in place to avoid the abuses they highlight, it is a fact that credit card fraud and identity theft is a growing problem that is costing the financial services industry more and more each year. Therefore it is important to be aware of the potential dangers and be familiar with a few simple steps you can take to reduce the risk that you will become the victim of identity theft. Take The Right StepsOne of the simplest steps you can take is to sign all your cards on the signature strip on the back as soon as they arrive. You can also consider carrying your cards separately from your wallet and driver’s licence so that if someone were to find them, they wouldn’t necessarily have your identity and address. Keep your pin numbers etc. somewhere safe and never with your cards. If it is possible, the safest thing to do is to memorise and then destroy pin numbers. If your card is out of sight during a transaction try to see what is going on behind the counter and seek to get it back as soon as possible. While still relatively rare, there is a lot of information on your card, which can be copied and used later on. You should destroy receipts if you do not need them. You should also check carefully all your monthly statements and make sure that all charges were in fact made by you. IF you have any doubts, contact your card issuer immediately to sort it out.Do’s and Don’ts

Never leave your cards lying around where others can get access to them and don’t lend your card to anyone. Don’t sign blank receipts and never give your account details over the phone, by mail or on the Internet unless you are sure you are dealing with a company that you know and can trust.
If you do suspect fraud, or if you lose your cards, report it immediately to your card issuer. By following these simple steps you should be able to considerably reduce the risks of card fraud being perpetrated against you.