Top 4 Dangers of Cash Advances Using a Credit Card

r6Taking a cash advance make seem a perfect solution if you are faced with a financial emergency and need quick cash. Most people sign up for this short term loan as it offers a quick fix to their financial dilemma. One of the important things that you need to remember is that this perfect solution comes with a high price. You can land in serious financial trouble if you rely on cash advances.

Danger 1: Exorbitant fees

Cash advances are promoted by credit card companies to get quick access to cash in emergency situations. These transactions are often accompanied by convenience fees. In addition to this fee, you may also have to pay ATM fees when you withdraw cash from an out of network unit. Every aspect of the process has some fees associated with it and this makes it costly.

Danger 2: Interest rates

The high interest rates that apply are another danger of cash advances using a credit card. The annual percentage rate (APR) is always higher and is usually double than the percentage that is normally charged. Most consumers are not aware of the

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10 Tips on How to Improve Your Credit Score

vfdYour credit score not only determines whether or not you will be able to get credit, it can also have an impact on the interest rates that you will be charged. If you haven’t checked your own credit score, then it might be a good idea to do so, because there are many things that you could be doing inadvertently that would adversely affect it. If you want to want to improve your credit score, there are some simple steps that you can take. Here are ten ways that can you make your credit rating better.

1. Find out what is already recorded against your name

It really is worth the few pounds that it will cost you to check out your credit score. The credit referencing agencies do make mistakes and lenders do not always pass on the correct information to them. If you register online with a credit referencing agency, you will see what is recorded against your name and you then get any errors corrected.

2. Get on the electoral roll

Even if you have no intention of voting at the next election, it

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7 Tips For Credit Card Management

fddThe invention of credit cards was a giant leap forward for humans. People around the world use their credit cards for all kinds of purchases and payments. The credit cards give the people, the freedom of purchasing what they want, without having to depend on their bank balance. Credit cards are used by all kinds of people in cities and towns across the world. It is a fact that a credit card can be a boon as well as a bane at the same time.

At times, people do not know how to effectively manage their credit cards. This is why, their credit score is severely affected and they find it hard to acquire financial assistance from banks and other lenders. In order to make sure that your credit score is not affected, you need to effectively manage your cards. You need to be careful about making payments and using the card for any purchase.

When you make your credit card payments on time, your credit score improves and you can obtain higher amount of credit. On the other hand, if you fail to make the

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Business Credit Building Initial Essentials

4rBefore you start applying for business credit, make sure you take the time to verify that all agencies, banks, and trade credit vendors have your business listed with the same Tax ID number.

Business address must be a real brick-and-mortar building, deliverable physical address cannot be a home address, cannot be a PO Box, and cannot be a UPS address. Some lenders will not approve and fund unless this criteria is met.

You must have a dedicated business phone number that is listed with 411 directory assistance, under the business name. Lenders, vendors, creditors, and even insurance providers will verify that your business is listed with 411.

You MUST use a business phone number, not a home or cell phone.You should get an 800 number and fax number. Voice over IP numbers are okay, you just can’t use a home phone or cell phone.

Credit providers will research your company on the internet and it is best if they learned everything directly from your company website. You should also have a professional email address such as.

These are super cheap and easy to setup. Not having either WILL

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Top Reasons People Fail When Repairing Their Own Credit

5hReasons people fail when repairing their own credit

#1. Not understanding their rights. The Federal Trade Commission has numerous laws pertaining to credit, credit scoring, credit reporting etc… Understanding these laws and in particular the individual “statues” within the laws help immensely when correcting problems with the three major credit reporting agencies. (Experian, Equifax & TransUnion) Most people simply don’t have the time or expertise to read, study and understand what can be done to improve their credit.

#2. Documenting the entire process of correcting inaccurate information on their reports. It is estimated that up to 80% of Americans credit reports have inaccurate information on them. Documenting when letters are sent and knowing the timeframe the Credit Bureaus and Creditors have to respond is very important. Also, remember to send all documents Certified Mail with a return receipt request!

#3. Being patient during the process. So many people I’ve spoken with over the years simply get exhausted with the bureaucracy of these huge entities. You must be persistent, patient and knowledgeable in your efforts.

#4. Disputing only with the Credit Bureaus. When challenging inaccurate, wrongful or obsolete information

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How to Apply for a Credit Card With No Credit History

t42Money which can be used to buy anything we want, yet which we do not hold, feel and count in our hands. Money which can both save our lives and destroy it. Money is a necessity and our entire life revolves around it, right from figuring out means of earning it to how to spend it and our efforts to save it for a better future.

The modern concept of money doesn’t involve its physical presence, but rather presents itself in the form of a card, a magical card which can instantly make wishes come true. The Credit Card has revolutionised money, transcending physical boundaries and opening up multiple new avenues. There are cases where the only item we need is our credit card and the prospect of carrying money has changed drastically.

Who are the people with no credit history?

Credit History is associated with everyone who has used a credit card for any purchase. The people with no credit history are mostly students and new immigrants in a country, who have never taken out loans. In the case of card applications, an individual with

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How to Get Your Teen Started With Credit Cards

ewRecently, college students were offered credit cards on campus and thus often get into debt before actually earning an income. Although, now there is a Card Act of 2009 that no longer allows credit card issuers to advertise or promote their products and services on campus. Anyway, students still face potential pitfalls. The thing is every teen thinks that he or she needs a credit card just as well as a cell phone. So, it is a smart move for any parent to use these ubiquitous devices as teaching tools meaning that they should be monitored while explaining how valuable credit may be. And this will help to protect teens from abusing credit.

The following tips will help you to get started.

Check the teen’s credit report together.

It is not a secret that you can simply do this online. At first there should be no credit. Parents should explain that the use of the credit card will be reported to the major credit bureaus, thus any late payment will stay on the credit report for seven years. Teens should know and understand that credit reports

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The Esoteric World of Understanding Credit Scores

ytThe Jackson family just recently lost their only means of transportation when the family’s SUV engine died rendering it useless. The family’s SUV met its surmise in the morning as the Jackson’s were heading out to work and school. Mr. Jackson, the sole breadwinner, worked as a fireman and was usually dropped off at the firehouse right after their three kids were dropped off at school. On this particular morning the vehicle never made it out of their driveway. The children became frantic as they wondered if they would be able to make it to school. Each kid wanted to know why, what, and how as they inundated their parents with a flood of questions. Mr. Jackson began interrogating Mrs. Jackson about the last time she took the SUV in for an oil change. Mrs. Jackson began to feel as if she was being blamed for the vehicle breaking down and became irate. Mr. Jackson raised his voice as he expressed to his wife the importance of vehicle maintenance. Mrs. Jackson, who was usually always calm, unknowingly began shouting in an attempt to

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Top 5 American Express Credit Cards in Singapore

eeAmerican Express is one of the biggest issuers of credit cards in the world. The company offers cards that are customized to meet the needs of all kinds of customers but mostly they cater to the needs of individuals with high net worth. At present, more than 100 million people around the world use cards that are issued by this multinational financial company. American Express has a very strong presence in most Asian countries including Singapore. It offers a range of credit cards that are very popular with residents of this island nation.

The top 5 American Express credit cards offered in Singapore are as follows:

1. True Cash Back Card – This card has been designed to help people with saving more money when they use the card for their daily expenses. A percentage of the amount spent with the card with be credited back to the cardholders’ account as cash back and so they can save money in the process. The cardholders will need to pay a little more than S$170 as annual fee for the card and they can also opt for

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Improve Your Bad Credit History And Get Better Interest Rates, But How?

r43aWhy Credit History Is Important?

You are in need of an urgent loan and the bank is reviewing your application. Well, that’s procedure and every lender will do the same thing. But what they are also going to evaluate is how your past history has been, regarding the payment of loans. Have you paid your bills on time, how long have you been using credit, how many credit cards have you obtained in a specific period of time and what is the current amount of your credit? These are some common questions that your lender might ask you when you apply for a loan.

The lender will then use your credit background and the credit scores to help determine whether you are eligible for a loan or not. So having a good credit background is critical if you plan on applying for a loan in the future. You would need to work on your habits to ensure that your credit background remains good but if there are some flaws in your credit background, there’s no need to worry. Although they cannot be completely erased; but

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How to Choose the Right Travel Credit Card

vcTravelling is one of the passions shared by most people on this planet. People travel for the purpose of business and to explore new destinations. Traveling provides people with an opportunity to explore new cultures, cuisines and experience new languages. Given that traveling is an integral part of the lives of most people these days, many credit card issuers offer cards that come with a variety of travel benefits.

If you are someone who travels on a frequent basis, you will benefit from applying for a travel credit card as it will provide you with access to exclusive offers, promotions and deals that will make traveling a more rewarding experience for you.

It is a fact that there are too many travel cards available these days and so it becomes a daunting task to choose the right credit card for traveling. Here are a few tips that will help you in making the right choice:

1. A good sign up bonus – most cards come with different types of sign up bonus and in the case of travel credit cards, the cardholders are offered with free

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Top 5 Credit Cards in Singapore

dffCredit cards are no longer considered an item of luxury and in fact they have become a necessity for many people. They are considered as plastic money and help people to purchase the products and services that they require. These cards not only offer people with access to instant credit but also make online purchases more convenient for them. There are numerous banks and financial institutions in Singapore that offer a variety of credit cards that cater to the needs of people from all walks of life and different cards come with different types of features, benefits, fees and interest rates.

Here is an introduction to the top 5 credit cards in Singapore:

1. POSB Everyday Card – It is a card that has been designed to offer people in meeting their everyday shopping needs and comes with various deals, promotions and discounts for grocery shopping, taxi booking, paying utility bills etc. The offers the users with cash rebates for all of their transactions and helps them to save a lot of money in the process. People aged 21 and above can apply for this

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If You Have Bad Credit, You Need to Read This

r43Many consumers wonder is credit repair legal? YES, actually it’s your right as a consumer to make sure your credit report is accurate, so there is nothing illegal about it!

There is also a huge misconception that credit bureaus are some type of government entity, they are not. In fact your local bar is just as much of a government agency as a credit bureau. A credit bureau is a business pure and simple, they have one purpose, which is to make as much money as possible. They don’t want to help you- they just want to make money! Making sure you have a low score helps them make cash, how?

Credit bureaus are essentially a lead source for lenders. They get paid by lenders so they can run your credit files when you want credit. They also sell thousands of leads everyday to lenders all over the country.

You know those “pre-approved” credit card offers you get in the mail? Well those are directed to your mail box from information sold by the credit bureau to the credit card companies.

I’ll give you one guess what type

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How to Improve Your Credit Score to Find Better Employment

ewIf you know your résumé and cover letters are stellar and you perform well in employment interviews, yet you keep falling short of your goal to be hired in your chosen profession, your credit score/credit report could be holding you back. That is because employers view your credit score as a measurement of how well you fulfill all the financial promises that you made to lenders. It is a known fact that employers want employees with integrity, character and enough social skills that they will fit in well with the employer’s existing team. That is in addition to plenty of industry experience. You could also be held back by the results of a criminal background check, but normally you would know if that were the case.

The average credit score in the US is 705. An excellent credit is any score above 739. If your goal is to secure employment in a profession that pays well, you should be aware that every employment application that you fill out normally authorizes employers to check your employment history, references, background and credit report. Positions with more responsibility

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Introduction to CIBIL Score in Changing Landscape of Loan & Credit

ytThe landscape of loan and credit in India has drastically changed in the recent times. In August 2000, the country’s first credit information company (CIC) came into existence. This organization is named as Credit Information Bureau (India) Limited though it is more popular by its acronym CIBIL. The entity steadfastly collects as well as safe keeps credit records of both individual and corporate borrowers. The range of information includes both borrowing and payment, relevant to credit cards and loans. CIBIL is licensed by the country’s supreme banking authority the Reserve Bank of India (RBI). Moreover, the accredited organization is governed by the Credit Information Companies Regulation Act, 2005.

To cut a long story short, CIBIL provides mutual benefit to both debtors and creditors in dealing with debt issues. In one hand, it helps creditors to run their business more efficiently while on the other, its effort proves helpful for borrowers to seek loans faster and at lucrative interest rates. CIBIL generates a three-digit credit score for every borrower. This score usually ranges from 300 to 900 and a score of 750 and above is

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Your Fail Safe Method for Choosing a Credit Card

44Many people put more effort into ordering from a fast food menu than they do choosing their primary credit card. Since a credit card can often turn into the fast lane to debt or excessive overspending, it’s vital that you have a checklist of measures to use in making the right choice.

Maintaining good credit can have great bearing on some of our most important desires, such as buying a home, buying a car, starting a business, and getting lower interest.

There are a number of important personal habits and considerations that should be used when finding a card to best serve your needs. The following is your fail safe method to finding the right credit card for your personal needs.

First, check your credit score. A free copy of your credit score can be accessed at Equifax, Experian or TransUnion, the three major reporting agencies. Because the best cards require very good credit, knowing your score in advance will help define your field of selection.

With credit score in hand, it’s time to consider spending habits. Basic questions to answer are will you pay the full

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3 Things You Don’t Know About Your Credit Score

34Yet, if you’re like many Americans, just knowing that you have a credit score may be just about all that you know. This is a bad situation, and you need to fix it, sooner than later.

“Why?” you ask. Well, your FICO score is, for better or worse, like your financial DNA. So, while you hopefully know that you have a credit score, you may not know just how important that score is to your life and livelihood. Unlike DNA, however, your score isn’t a number that just takes care of itself. No, you need to take care of it.

Here are just three reasons for making sure that you do.

Your credit score is somebody else’s business.
That’s right: big business. Your score is at the mercy of three privately owned mega corporations, whose business is rating you and your creditworthiness. In fact, it is these companies, or credit bureaus, that create your score in the first place. The “big three” of these national credit bureaus are Experian, Equifax, and TransUnion. This credit – or FICO – score that they assign you ranges anywhere from

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Business Credit Report

daThe world is a constant flow of services and goods today that need to be created, ordered and paid for. In today’s economy, this is often done through credit. In a view to keeping this system functioning smoothly, it is important that businesses rely on business credit reports. Through business credit reports, companies can determine the creditworthiness of any business partner or dormant account.

The business credit report shows your ability and willingness to pay bills.

The business report is very similar to inactive accounts. If you are considering extending credit to a company on the other side of the world that is divided by a barrier of culture and language, then you need to rely on timely and objective business credit reports.

The business report is an accurate and objective document that provides businesses with the vital information they need to make a sound decision about whether or not to extend credit. With today’s global marketplace, it is impossible to inspect all facilities personally on short notice. Therefore, the global entrepreneur needs to rely on a small window through which they can examine that operation of

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Solve Your Quest of the Goods and Bads of Merchant Services

7yEvery business has its share of strong points as well as low points. While some entrepreneurs are quite familiar with both aspects, some are still battling between the pros and cons. If you are also struggling from this situation, read on to unveil everything related to merchant services. With the clear picture in front, you can easily plan whether these services can benefit your business or not. Starting with the good points, there’s a lot to gain.

Check out some of the most popular features, which can help your business expand globally in minimum time.

1. Merchant services are all about accepting credit cards. As more & more customers love paying through cards, an incredible boost is seen in the sales.

2. Accepting card payment is easy and takes a few seconds. Hence, the payment game gets done instantly.

3. Higher order amounts makes accepting cards a lot cheaper.

4. Cash comes with risk factors; hence, security is needed. Moreover, if the payment is huge, troubles are natural and customers might pay less than the actual cost.

5. Merchant services increases the payment options for the customers, which eventually

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How to Fix a Credit Score

dwIf you’ve ever run into financial trouble, you know how frustrating it can be when that information shows up on your credit report. Lenders use the information on your credit report to assess your risk as a borrower, and late or missed payments could make you seem like more of a risk. In addition, your credit score may be negatively impacted.

Luckily, you have some control over your credit score. Just like missing payments and not paying your debts can bring down your score, you can do things to build it back up. It takes some effort, but it is not impossible.

1. Understand your score.

The first step on the path to positively affecting your credit score understands what goes into it. A credit score is based on several different factors in your credit history, including your payment history, how much you owe, how much credit is available to you, the length of your credit history, and the types of credit you have.

However, two things influence your credit score the most: on time payment of your bills and your available balance.

2. Get your debt under

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