It's Your Credit - What Is A Good Credit Score?

By Christine A. Mathews

Are you thinking about applying for credit? Whether you're buying a new car, getting another credit card, or refinancing your home, one of the first things your lender will do is check your credit score. This score will determine just how quick and easy it will be to get the loan. That's why it's always good to know what your current credit score is... before you approach a lender.

So what is a credit score -- and why is it important?

Your credit score is a number the credit bureaus use to rate just how credit-worthy you are. They look at both your past credit history and how well you are handling any current debt you may have.

Trans Union, Equifax, and Experian are the three major credit bureaus lenders use. Each credit bureau has their own way of calculating your credit score, but they all report their scores using the same scoring method: FICO. FICO is short for Fair Isaac Corporation. Don't be confused if one person uses the term "FICO score" and another uses "credit score" -- they both mean essentially the same thing.

Don't be surprised if your lender just gets a credit score from one credit bureau, instead of all three. This is not uncommon. Since all three bureaus follow the same scoring system, they will likely be giving very similar scores. For example, if Experian gives you a score of 710, Equifax and Trans Union scores should be in the same range. Of course, sometimes one credit bureau may have bad info. Mistakes happen, which is why you should review your credit report annually with all 3 credit bureaus. If there is a mistake, take the appropriate steps to fix it as soon as possible.

Where Do You Fall - What Is A Good Credit Score?

FICO scores range from 375 to 900 points. A higher score is typically considered a better risk. So the higher your credit score is, the easier it will be for you to get credit and the better the terms will be.

There is no standard scoring system that lenders must use when approving loans. They each have their own guidelines and cut-offs. But here is a general idea of the different ranges credit scores tend to fall in.

If your credit score is 650 and above, this usually indicates very good credit history. This means you will probably find getting credit approval is quick and easy. Another bonus for having very good credit is that the terms of your loan will likely be very good, too.

Scores between 620 and 650 are considered average. This means your credit is basically good. If you fall into this range, lenders will tend to look for any possible credit risks before approving a high credit limit or large loan amount. You may find you have to provide additional documentation and explanations when applying.

Chances are good that you will be able to get credit at a good rate and decent terms. It's just that instead of quick and easy, it can take a little longer to get approval.

A score below 620 doesn't automatically mean you won't get credit. But you may need to shop around a bit to find the right lender. You should also understand that the interest rates and terms of your loans won't be as desirable.

About the Author:

As you can see, your credit score is a big factor in the type of credit you are able to get. If you find your credit score isn't as high as you'd hoped, don't despair. There are things you can do to improve your credit rating starting today! For more articles on personal credit and how it works, visit http://CreditHelp.ImprovingYourFinances.com

Dealing With Income or Job Loss

By Doug West

Why Multiple Income Streams Are More Important Than Ever

The latest economy reports show more and more folks ending up on the unemployed rolls.

My guess is that the situation will get Much worse before we see any improvement in the job numbers.

I have always been a big fan of multiple income streams (even before that became a catch-phrase), and I think they are more important now than ever.

When I was laid off my nearly 10 year job with AT&T back in 1992, I saw first hand how important multiple income streams were. At the time, I had a part time mail order biz (and had been tinkering with that since I was a kid). I looked at the lay off as a good opportunity to get more serious about my business. I also had been doing some investing (my best-ever stock play helped BIG back in those days), and had a little network marketing income.

Many of my AT&T coworkers had no other source of income, and I clearly remember a few grown men in tears when they walked us all out the door that morning!

I would MUCH rather have five sources of income that pay me $200 a week, than to have a J.O.B. that pays me a grand a week! If you still have a job, you need to take this info seriously - NOW! If you are one of the millions of folks that recently lost a job or your only income stream, you need to take steps NOW to correct that (you still have time - perhaps a severance package and/or unemployment insurance checks to get you by - but please don't wait till they run out to get going).

How do you start to create multiple income streams? Here are a few areas that are available to most people:

* Online Income - Many things fall into this category, affiliate plans, blogging income, Adsense dollars, online jobs, marketing your own products and/or services, eBay and other auctions, & more.

* Investment Income - OK, this one may be tougher than ever, and if you barely have money to live on, how do you start to invest! I am partial to index trading, and that does not require a lot of money to get started, but to be really good at it, you need other income streams too.

* Network Marketing Income - Don't turn up your nose at this one. I have companies sending me checks that I have not worked in years. While it is true that network marketers often talk about the top guy who is making $500,000 a month, but there are a TON of folks who make a few hundred a month. Not life changing in and of itself, but as part of your multiple income stream strategy, not bad either.

* Cash Back Debit & Credit Cards - You won't get rich with this alone either, but the old saying is really true "If you watch the pennies, the dollars will take care of themselves". Pay Pal offers cash back on a debit card (which in my opinion is better than a credit card - you won't have the temptation to carry over a balance, which would cause interest charges and defeat the purpose of cash back)

* Interest Savings on Loans & Credit Cards - OK, this is not technically income, but if you save money off what you are currently spending, it comes out the same in the end - more money in your pocket and budget.

* Food Bill Savings - This is like the Cash Back cards, not really income but can be very important - especially if you just lost your job or sole income (like many folks who used to live on their stock market income). Try clipping coupons or join a coupon club. Eat at home more and quickly find more money left in the budget at the end of the month.

* Turn Hobbies Into Income - Like to go to garage sales? Turn that hobby into eBay income. Like to work on small engines or have some other hobby that can be turned into an income source? Don't sell yourself short here. Maybe you love flea markets? What if you could get an extra $200 or more a week by setting up a booth one day a week? Not enough to live on for most folks, but not bad as part of your multiple income strategy. You might even consider creating a booklet, ebook, book, or other info product on your hobby. If you are good at it, you ARE and Expert (you don't have to be the best to be considered an expert - there are folks out there who will pay you for what you know).

We have had affiliates of our Index Trading course earn up to $100,000 in a year. We've had many more earn from $5,000 to $30,000 in a year. What if you had 5 affiliate plans you liked (loved would be better - you'd be more passionate about them), that averaged about $5,000 each per year. You might be able to live on that. Add some other sources like the ones mentioned above and you might live very well!

Always be looking for ways to add additional income streams. Remember, the more you have the better! If one dries up, you are not devastated.

The time to set up multiple income streams is before you need them, but no matter what your situation is, there is no time like NOW to get started.

About the Author:

Mini-Dow Index Trading Made Simple. Discover how to build your trading income. Get Doug's Debt-Free Report. Read his blog here.

Taking Advantage Of A Credit Legal Repair Service

By William Blake

When it comes to restoring credit reports, there can seem to be nothing more important at that present moment. That is because something so simple as a number can hold your entire life back and bring your plans to a screeching halt. There is nothing more embarrassing then being turned down for that new home or car based on a number, which you find to be inaccurate. If you feel that there is something on your credit report that does not belong then it is certainly time to take action.

Generally your basic credit report repair service will be able to assist you but if they cannot, then there are other options available to you. There is such a thing as a credit legal repair service that will also be able to help you if you find that your circumstances require a much bigger answer then that of what the smaller companies can offer you.

When it comes to legal issues, a credit legal repair service company is the place that you would want to use in order to make sure that everything is taken care of correctly and in the right time frame.

Where To Find Them

If you start your search with a basic company and you end up finding that your issues are bigger then what they can handle for you, they may be able to refer you somewhere. That company may have a list of a few credit legal repair services around you that can assist you in your particular situation.

If no one is able to refer you or you just know that you have to start with a credit legal repair service then it is probably going to be up too you to find the right one. If you know of anyone who has used this type of service before then talk with them about their experience. This may help you go in the right direction for finding the right help.

There are also television commercials because there seems to always be an advertisement for a credit legal repair service. Check into what they have to offer and see what all of their services cost. Make sure to shop around so that you are not being taken advantage of but do not go with a credit legal repair service just because they are cheap.

You want to make sure that they are actually going to be able to do the job right all while charging a decent price. You do not want to make the situation worse just because you decided you wanted to save yourself a few dollars.

About the Author:

Are debt consolidation non profit services the best way to handle consolidation? Not always. Get the full story on the Inside Debt Consolidation website at http://www.insidedebtconsolidation.com

The National Student Loan Database: How to Conduct Searches

By William Blake

You need a student loan because you just don't have the money to pay for the tuition you need to attend the college of your choice. It's time to search for a student loan company that offers low interest rates but that also gives you enough money to go through the schooling you need. How do you find a student loan company that offers the criteria you're looking for? You can find one by searching the national student loan database. The national student loan database has all the information you're looking for regarding student loans and student loan corporations. You can easily weed out the ones that don't offer what you're looking for so that you can wisely choose a student loan that gives you just what you need to get the education you so badly deserve.

Your College Financial Aid Office

Stop into your college's financial aid office and ask to use their computers to search the national student loan database. The financial aid office is where you can find all the information you seek. They'll have flyers and brochures on all kinds of student loan corporations but the national student loan database is much more thorough.

It is important, however, that you limit your investigation to companies who offer loans to your college. You will be best off if you utilize the computers in your school's financial aid office, since the national student loans database will give you information about loans that don't apply to your college.

Making Good Use of the Internet

Of course, if you haven't found a college yet and you want a student loan, search the national student loan database to find a loan offering the criteria you're looking for. It's not usual to choose a college based on the student loan you can qualify for but that can certain happen. Search the national student loan database from your personal computer and you'll undoubtedly find the loan that suits you so that you can attend the college of your choice.

There are many student loan companies out there that offer the criteria you're looking for. You can go to college even though you may not have the initial money in order to attend the classes you need.

The process is easy. Conduct a search using the national student loan database, choose a company to get your loan from, apply for it, and soon you will have your funds sent to you in the mail. After the financial end is cared for, you can focus on your all important education.

About the Author:

Trying to find credit card debt assistance? Stop by the Debt Reduction Academy, where you can sign up to receive your free 5 day mini course "Operation Money-Find: How To Find Money To Start Paying Off Your Debt This Month". Grab your copy now at http://www.debtreductionacademy.com/minicourse.php

Collection Agency Pricing

By JR Rooney

One of the major benefits to working with a collection agency is that you only pay a fee if they successfully collect on the file you give them. This means if they can't collect your money, you don't pay a dime.

Notwithstanding, this isn't always the case. If you have a few smaller debts ranging form $10 - $500 each, the collection agency could require a fixed fee to handle those small accounts to make it profitable for them.

A Collection agency earns its money by taking a small percentage of the money they successfully collect. This percentage can range from 10% to 50% with the most common percentage being between 25% and 40%.

The fee is typically based on age and dollar amount. The older the debt the more difficult it is to collect and the agent will require a much higher fee to go after that kind of account. Also, make sure you factor in how difficult it will be to collect. Certain debts are riskier to collect therefore require percentage kept to be greater.

Some agencies will charge you for several other charges related to their collection efforts including fee-based background checks, court costs, filing fees, and long-distance telephone calls.

Before any collection agency will work even a single claim, they will write up an account release form that details the terms of your working arrangement including their responsibilities, the fees, any additional expenses, and customer service policies.

Be sure to read the contract over carefully for any fine print or contract language that seems confusing. If you notice discrepancies in the contract, make sure the agency fixes the problems immediately before requiring you to sign anything.

About the Author:

When you want a free quote from a Collection Agency or get a free quote from a Collection Company

Identity Theft

By Landon McGehee

Immediately upon becoming aware that your identity has likely been stolen, it's easy to begin to panic. This is the wrong reaction and should be repressed. Calm yourself down and consider your options. You'll need a clear head to minimize the damage done to your finances and credit. Here are the steps to take, one at a time, to stop the theft from getting out of hand:

First, contact your local police department to report the crime. Give them all the information you can. They will likely refer you to the Federal Bureau of Investigation (FBI) and the Federal Trade Commission (FTC) to continue your report. File with both of those agencies as well. This allows the police on a local level to look into the matter while coordinating with the federal authorities. The FBI and FTC will likely want your local police's case number, which you should have received when you first reported to them.

In addition, reporting to the FTC (or their Consumer Alert website) will alert the three credit bureaus and put a Fraud Alert on your reports, which means that no new credit cards or other lines of credit can be obtained on your account for three months. Fraud Alerts are non-specific, however, and merely note to creditors that something illegal has happened involving your credit-whether that illegal activity otherwise involved you or not is left up to question. This is not a total blockade either and still allows a thief to use your existing credit.

Often the FTC requests that you change the passwords and access information for your accounts, but leave them open so they can monitor for thieves. While this seems like a good idea and it will help them catch the thief, it also leaves your accounts open to more fraud that you may or may not get reimbursed for. Most people opt to close their accounts and open new ones instead. It is your choice to do so and you are not required to cooperate with the FTC's investigation.

Now that you've gotten your financial life started back towards normal, it's time to get the rest of your identity secured as well. Contact the Department of Motor Vehicles for your state and request a new driver's license number, explaining the situation. Usually they will be happy to do this without any questions if you can present your original license and other proofs of your identity. Contact the Social Security Administration for the same purpose, to change your Social Security Number. This is trickier and often takes much more time, but it can also be done and is a good step towards renewing your broken life.

Now be prepared for a real battle to restore your identity, finances and life. Often, victims of identity theft find themselves battling for years over issues on their credit reports, bank accounts, and more.

Since identity theft continues to go on the rise as thieves utilize new technologies, the World Wide Web, and other techniques to find new victims, government and law enforcement have little chance of stopping the phenomenon. Repairing the effects of identity theft is difficult as well. It's up to individuals to take charge of their private information, be it their personal information or their bad credit history - and keep it safe from thieves, so that they will pass you by looking for easier targets. This includes family and friends as often, victims of identity theft find out that it's those closest to them that are doing the crime.

So take charge of your life and, if you find yourself a victim of identity theft, don't panic.

About the Author:

Landon McGehee frequently contributes to www.everlife.com. Now you can remove the confusion in your mind on the topic of reparing bad credit.

When Should You Call In a Credit Collection Agency?

By JR Rooney

You should call in a credit collection agency sooner rather than later. The longer you wait to start the collection process on overdue accounts, the less of a chance you'll have at recovering your money.

The day after an account becomes overdue, you should place a polite phone call to the customer who owes you money. If that doesn't work, you may want to send a few past-due letters yourself, or you may want to go directly to a credit collection agency. Base your decision on how much money is owed to you and the history of your relationship with the customer. If it's the first time you are doing business with them, you'll want to call in a credit collection agency earlier than you would with a 10-year customer with a solid credit history.

Most companies call in a credit collection agency once a debt is 60 days to 90 days past due. If you wait much longer than 90 days to begin recovering unpaid receivables, your chance of collecting drops dramatically.

If you discover that your customer has gone out of business, find out what type of business it was - a corporation, a partnership, or a proprietorship. If it was a corporation, don't bother calling for the help of a collection agency. It is doubtful that you, or any one else, will be able to squeeze the last few nickels out of that client. If the company is a partnership or a proprietorship, you may be able to get the individual owners of the company to pay you out of their own pockets.

If you try to recover a debt and cannot, consider that bad debt a tax-deductible item (Tax Code IRC 166, Reg. 1.166). You will be able to deduct the cost of the goods sold (but not paid for) as an ordinary business expense. You can't deduct any lost profits from the sale, nor can you deduct the money owed for services rendered.

About the Author:

If you can't get paid hire a Credit Collection Agency. Attempt to use a Collection Agency that can handle accounts worldwide

Non Standard Construction Properties Offers Affordable Housing

By Phillip Evans

In these post credit crunch times its becoming increasingly difficult to get on the property ladder or impossible to find an affordable home, non-traditional construction properties could offer a viable alternative

Non traditional construction or prefabricated concrete properties where originally designed as temporary housing as a solution to soldiers returning home after the Second World War and bomb damaged properties.

Most of the properties where built by the Local Authorities and formed part of the housing stock, when the Right To Buy legislation was enacted by the conservative party in the 1980's these properties slowly where sold into private ownership as "Right To Buy" became very popular.

RICS Valuation Firms have typically valued these properties far below their traditionally built counterparts, as mortgage lenders shy away from lending on Non standard construction or prefabricated reinforced concrete houses as they are still classed temporary, despite them still being perfectly habitable in the 21st century.

About 1.25 million (one million two hundred and fifty thousand) non traditional houses were built after the war, which offers a great affordable housing stock for the UK home buyer or investor.

Enable Finance Ltd provide non standard construction mortgages even if these non standard properties do not have a PRC certificate or have not had remedial works carried out. The more popular non traditional housing is Reema Hollow Panel, Woolawy Bungalow, Wimpey No Fines and waites construction and if not always tend to be ex local authority flats or houses.

PRC or non traditionally built properties could answer some very simple affordable housing solutions for the UK home mover or professional buy to let investor. If you are an investor you will no doubt have come up against problems when your rental yields do not stack up as property prices have soared over the past few years, make sure you speak with Enable Finance today.

With the Chancellor of the Exchequer increasing the stamp duty threshold to 175,000, most home movers buying non standard construction properties will not pay stamp duty as prices tend to be low. Non Traditional property could offer a real cost saving and affordable housing solution.

For a FREE no obligation quote on a mortgage for non standard construction property please visit Enable Finance Ltd online. Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage. Ask for a personalised illustration. There will be a fee for arranging mortgages, normally 1% of the advance, subject to a minimum of 1950 and a maximum of 2450. The fee can usually be added to the mortgage amount.

About the Author:

Enable Finance are expert providers of mortgages and loans within the UK for a free quote on our best mortgage deals or to find out more information on non standard construction mortgages please peruse our site

Make a list of everything in your home

By Rem

To protect your home in the event of a burglary, accident or fire, a house insurance policy can be arranged that can help replace individual items. If you own your home, you may be offered a joint policy that covers both the building and the contents as well although this may not be worth it if you rent accommodation.

It is always a good practice to make a list of everything in your home that has any value, doing this on a room by room basis and preferably before you actually take out the house insurance. An easy way to do this is to carry out a walk-through of your home with a camcorder if you have one or a digital camera if not and take pictures of the rooms and the contents. Combined with the written inventory, this makes an excellent record of your home and property. Many people forget to keep there household insurance inventory current though and neglect adding new personal things to the list as well as taking pictures to attach to that list.

Many hundreds of suppliers now provide their own particular policies online, so before settling on the one you would like to take out, be sure to obtain a number of quotes so that you can compare. One obvious benefit to using online services is that you can have your quotation within a short space of time. house insurance plans purchased online are usually supplied at a discount owing the fact that the providers involved have reduced their disbursements by supplying these products without the need of many offices and a large number of staff. You should not just look into the value of quotes, but also the reputation of the insurance firm before you make your final decision.

Many suppliers now offer their own unique policies online, so before settling on the one you would like to set up, be sure to obtain a few of quotes so that you can compare. The benefit of getting an immediate online quote is that insurance quotes from major providers are brought to your personal computer screen in a matter of a few seconds. In addition to giving you more choice, home insurance policies accepted online are usually less expensive as the overheads are smaller for the company. You should not just check the value of quotes, but also the reputation of the insurance company before you decide.

Some firms are more diligent and may make a physical examination of your home or specifically request an amount of protection from you and then work out how much it will cost from the figures you provide. Having the correct insurance level is more important than just a reduced premium and this approach may better suit those house owners who have higher value personal possessions and do not want to end up with a sum assured that does not meet the needs of substituting their property.

Although the contents of your house may all be important to you, remember your policy will not always cover all of your personal possessions. home workers for instance should be conscious that equipment used to run that business from household is not always covered as standard. Also, if the sum assured does not cover high value items, such as jewelry and electronic stock, you may have to pay extra on your house insurance policy to insure them at the level you require. Still, in the end it is your duty to check out which possessions are covered by the plans that you are considering before you make a final decision.

About the Author:

Also have a look at Home Deals Blog and Save On Home Blog

Pros And Cons Of Credit Card

By Darren Cason

According to 2004 data, the average credit card debt per household was over $5000? Even worse, the average interest rate was over 17 percent. With this amount of debt, it is tough for anyone to get ahead financially. However, if you understand how credit card debt works, there are ways to get out of it.

Interest is the fee you pay for the ability to spend other people's money. This is the price you pay for convenience, and clearly many people take advantage of it, perhaps too much. Total consumer debt hit $2.5 trillion in 2008. Because of this, it is especially important to understand the effect of interest on your debt.

Increasing your payments can have a dramatic effect on your total debt. Paying just $10 on top of your minimum monthly payments with a $2,000 balance and 20 percent annual interest rate can decrease the total amount you pay on that debt by almost $1,000. The lesson here is that every little bit counts when paying down your credit card. It can drastically reduce the time it takes to pay it off.

However, it is even better to not carry a balance at all. By paying off your credit card every month, you are guaranteed to save yourself from losing up to 20 percent that you would have paid in interest.

However, many investors do not pay down their credit cards, choosing instead to put their money in savings accounts or other investments. While there are many factors that may influence this decision, the underlying reason is often that many people tend to have mental accounts. In other words, they place different meaning on different accounts and on the money in each account. However, you should remember that a dollar is a dollar, no matter which account it is in, and you should look at your accounts as a whole.

Holding a credit card balance negates any investment gains, because the interest rate charged is nearly always higher than the return on any investments you could make. Investing instead of paying off credit card debt is a sure way to lose money.

On the other hand, paying off your credit card guarantees that you will not be paying the interest payments you normally would. So if you have money in your savings or investment accounts, you should pay off your credit card. Once you have eliminated this high-interest debt, then you will have more money due to the lack of credit card payments, and your investments can truly grow.

Overall, carrying a balance on your credit card can be very costly. You should pay off the entire balance whenever possible. If you have to carry a long-term balance, pay if off as soon as you can, even if it means pulling money from your savings account. Paying the high interest rates of credit cards, even if you own a low-apr card, does not make any sense if it is at all avoidable. Even if you can't pay it all off, increasing your payments over the minimum can reduce the repayment time and interest amount.

About the Author:

Learn more of what Darren Cason has to share over at www.debtjerk.com. Unpack for yourself why so many people are interested in low term apr.

How the slowdown is hitting the credit card market

By Mark Wright

The credit crunch is a little different to previous incarnations of economic slowdowns in that it has hit the consumer much harder and much earlier on in its development. The amount of personal borrowing against credit cards and the lenders' response to this particular crisis may have a great deal to do with that early-doors impact. A survey by the financial information analysts Moneyfacts has found that at least 10% of credit cards have raised their interest rates or fees as a direct result of the economic storm now battering UK PLC.

A knock-on effect of the credit crunch has been the average interest rate on credit cards rising from 16.8% to 17.2% since the start of August 2008. This trend upwards is in direct opposition to the Bank of England's policy of cutting base interest rates to stave off the chances of runaway inflation. The credit crunch is biting, and biting hard. As banks and lenders realise that the money pot in the City is nearly empty, they know that this time consumers are feeling the squeeze as well. In the lenders' eyes that means a greater risk of customers defaulting on payments, so the interest rate rise on credit cards is seen as a financial cushion against defaults and bad debt. The lenders are shoring up their financial positions and doing their utmost to reduce their exposure to bad debt.

As the financial institutions lost faith with each other, they tightened up on lending criteria across the board. This was primarily to stabilise an already shaky marketplace and stop everyone running the risk of 'bad debt', both lenders and borrowers alike. The lenders need money to continue trading and as borrowing from other banks and financial institutions has practically stopped, the only way for them to get the money they need to continue in business is to increase interest charges on credit agreements, loans, credit cards and mortgages. This signifies an end to the 'live now, pay later' lifestyle that the First World industrial countries have enjoyed for so many years.

Up until 2007 the previous ten years were a boom time for credit card lenders in the UK. It wasn't just the credit crunch that stopped the credit card companies in their tracks. An extremely competitive credit marketplace, coupled with a global economic slowdown, increasing international bad debts and government regulations made the credit card lenders re-evaluate their positions. Some more panic-stricken credit card companies responded by 'dumping' thousands of customers they considered not 'profitable' - namely those who paid off their credit card balance in full every month. Other lenders are reigning in their customer's spending habits by restricting credit limits and access to cash withdrawals.

The credit card industry has suffered a double-whammy. The loss of overall market share in the late 1990's resulted in a scramble by lenders for customers, enticing in consumers with 0% balance transfer offers and cashback schemes. That has all now changed, with most cards imposing up to 3% balance transfer fees in an attempt to regain lost profits as a result of the 0% offers. The second blow was the decision in 2006 by the Office of Fair Trading to impose a 12 cap on penalty charges. Now lenders are bracing themselves for another knock-back as the Complaint's Commission takes a close look at personal protection insurance schemes imposed by lenders on many credit card deals.

The economic slowdown could have yet another sting in its tail, with unemployment now under the spotlight. Higher interest rates on cards for everyone is the lender's way of buffering their position, minimising their financial exposure. It means that everyone pays the price through increased interest charges, but a more stable credit card market emerges as a result. Credit card lenders are keeping a close eye on their customers, looking for early signs of financial difficulty. They are well aware that things are tight for everyone, and by keeping a watch for customers who show signs of struggling, they can step in early and guide the customer through the financial rapids they may find themselves in. The credit crunch does mean a slowdown generally, but rather than a complete collapse of the house of cards, it's more a matter of shoring up the foundations so that the market can emerge stronger after the event.

About the Author:

Mark Wright writes regularly on the topic of the recent financial crisis, and educates readers on what to expect regarding the credit crunch. Read more about credit cards here.

Different Rewards For Rewards Credit Cards

By Gray Rollins

Credit cards are now a part of modern living with more and more appearing every day. What kind of credit card would you prefer for your type of purchasing? Most of us would go for the credit card that matches our spending habit. We would definitely prefer the card that would be able to return to us the money we spent. Rewards credit cards are the right one, but which is the best one to choose?

To choose the right rewards credit card, be aware of the details and information pertaining to the rewards. Some banks usually offer this to attract applicants, but before making your decision, make sure that the rewards offered are something that you can use in your lifestyle and spending activities because some rewards may not be suitable for your needs. Check also the detailed APR charges or fees you might incur in the future. Some rewards may be enjoyable but are charged to your account after some time.

If you love to travel then the rewards cards that offer kickbacks for traveling will be your best choice. These types work by taking a portion of what you spend and coverts it to miles that can be redeemed at certain airlines for travel vouchers. You can track your earnings and calculate how many miles you need to earn to take a special trip.

Another way to earn miles is through paying the bills using the rewards credit cards. Credit cards can now accommodate different utility bills. It is just like paying the bills on cash but as you pay through the credit card you are earning rewards as well. Just make sure that you will also make prompt payments to avoid incurring interest charges.

Another beneficial reward is the gas card. As you earn rewards points by using your credit card in your purchases, you can use the rewards to pay for your gasoline consumption. Some gas stations are affiliates of your credit card company and they do this reward to convince you to go back to the station for your gasoline.

Another benefit of rewards credit cards is the cash back bonus for the purchases you make using the card. Some credit cards give you back a percentage on all of the purchases, while some cards give you back a percentage on a portion of purchases you made. Just beware of credit card companies that charge these rewards in the end and make sure that some fees and charges related to your card are not due to rewards.

Among all the rewards credit cards, American Express Preferred Rewards Gold Card is the best. It allows the cardholder to choose where to use the rewards for their own suitability. Even the rewards are based on almost every dollar spent using the card. Some cardholders use the rewards for some special or exclusive events, shopping, and even for travel rewards. This is why the American Express Rewards Gold card is the best.

You can use your rewards credit cards in many ways and you can also enjoy the rewards as well as you use your card in your purchases. Just make sure that you pay the amount due on or before the due date to avoid interest charges.

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Getting To Know Debt Consolidation

By Darren Cason

You're not alone if you have accumulated more debt than you can repay. If you're in this situation, you're probably finding that the debt you have results in more debt from interest charges and penalties. It may seem impossible to pay this debt down, but there are ways to do it.

To break this cycle, many people try debt consolidation. Thousands of people have found their way out of debt using a debt consolidation program, but it isn't for everyone. There are pros and cons to debt consolidation programs, and you should consider these carefully before deciding if it is right for your circumstances.

Debt consolidation is, quite simply, the gathering of multiple sources of debt into one. Then, you'll make a single payment each month towards paying off this debt. While it seems simple on the surface, in fact there are many factors to consider when deciding if debt consolidation is right for you.

Remember that whether you pay $150, $50, and $25 per month in three separate bills, or $225 in one check to one debtor, you are still spending the same amount of money paying down your debt each month. With online bill paying, it doesn't even take any more time to pay three bills than one, so if the monthly payment stays the same, debt consolidation will not get you out of debt quickly.

In order for a debt consolidation program to work, either the monthly payment amount needs to decrease, the net amount of interest has to decrease, or the total amount of debt you owe needs to decrease. While it is possible for a debt consolidation program to accomplish at least one of these, you'll need to understand all the details of the consolidation plan to make sure it will actually help you get out of debt faster.

Most debt consolidation programs do not accomplish all three of these. Most commonly, they lower your monthly payment. This will make it easier to pay the bill each month, so you won't add late charges onto your debt. It can also help if you're struggling to make payments each month, making it easier to make ends meet. However, if the payment is too low, you might over-spend because you consider the difference money to spare. If your goal is to become debt free, you'll have to reduce your spending even if your payments on existing debt are lowered.

Unfortunately, most debt consolidation plans are able to give you are lower monthly payment by extending the term of the loan. Over the long term, you'll end up paying more interest and when worst comes to worst you might as well decrease instead of increase your credit score. However, you may be able to negotiate a lower loan amount, because some companies are willing to settle for less to get you to repay the debts. Then, consistently make your payments on time every month to lower your debt.

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Platinum Credit Cards Accepted Worldwide

By Gray Rollins

Platinum credit cards offer more benefits and purchasing power than the Gold or Standard credit cards. The status associated with Platinum credit cards is one of the reasons people prefer this card. In today's society where image is so important, possessing a platinum credit card says you are a successful person. This card is for those with a high income and excellent credit rating.

The American Express Platinum card, a highly prized card, is the most preferred card by cardholders because of its benefits such as the highest credit limit of up to $100,000, VIP treatment given to cardholders, worldwide access and acceptance, travel services, financial services, account online access, and many more as you keep using the card for the longer period of time. Another benefit of the use of American Express Platinum card is the reward points of 1.5 per purchase made.

MasterCard offers a platinum credit card. This card is accepted almost every where in the U.S. and abroad. The percentage rate, which is very reasonable, will stay at a reasonable amount as long as the payments are made on time.

Those professionals who are earning higher income and are qualified to avail MasterCard Platinum but the interest rate for this kind of credit cards usually increases, especially when the payment made is only for the minimum outstanding balance for the period. To avoid 35% rate increase on interests, pay the balance due for the month on or before the due date.

The Discover More Platinum credit card is another credit card that is suitable for people who can afford the payment but prefer the 0% annual fees and low introductory APR. The APR will remain low if the payments are made on time and good credit score is maintained. This card also gives high spending limits to cardholders with rebates and bonuses for every purchase. Online account is also accessible anywhere.

Platinum credit card features wider range of benefits and opportunities than the silver or gold credit cards. It extends additional services such as concierge services, travel services, and purchases on high class establishments. Once you met the qualifications of being a high earning individual with high credit score, you can avail this Platinum credit card and experience its benefits and privileges.

Platinum credit cards are available for businesses. They have several options that are standard with the card so you can save money when shopping for your business as well. The membership rewards are similar to the regular credit card for personal use. There are companies that are affiliated with the credit card company so you can save from 3 to 25% on purchases you make with these companies. Some of the platinum credit cards for business offer a 0% APR for the first year and there are some with no annual fee.

Platinum shopping card is also a form of credit card. Unlike the regular credit card which can be used for dining, travel, or other services, platinum shopping card is only intended for purchases of merchandise or just for shopping purposes. The credit transactions are still reported to the credit bureau for the credit score, so be sure to make prompt payments and take care of your credit history.

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