The Truth Bar

We’ve all seen the ads on television or in magazines, shouting, “Erase bad debt!” or “Remove negative entries from your credit report!” If you’re a person suffering from a less-than-stellar credit rating, those headlines may seem like the answer to a prayer.

The only problems is, those programs don’t work, and to add insult to injury, you’ll find yourself paying hefty fees to those companies, only to end up right where you started, or worse. Sometimes, what is couched as a credit repair program may actually be an attempt to steal your identity by gaining information about your social security number, bank accounts, and credit cards.

Here’s how the credit repair scam generally works:

First, the company will contact the various credit bureaus and tell them that the negative information contained in your files is false. Since they want to accurately reflect your credit information, the credit bureaus will temporarily remove the negative information while they investigate the claims. Meanwhile, the scammer sends you a copy of your credit file, showing that the negative information has been removed, claiming that your credit history has now been repaired.

It will seem like a miracle, until you learn that as soon as the credit bureaus have completed their investigation, any accurate negative information will be returned to your credit report, and you’ll be back where you started, minus the fees that you paid to the scammer.

The key concept to remember when it comes to your credit report is that accurate entries will stay on that report for seven years from the time they’re reported to the credit agencies. Bankruptcies stay on a report for fourteen years.

There are many honest companies that can help you with debt problems. But how can you know if a company is legitimate? First, scammers will ask for their money up front, while legitimate credit repair companies can’t require payment from their clients until they’ve performed the services they’ve promised. In many states, they must also give you a detailed written contract, clearly explaining your legal rights and giving you the option to cancel within three days.

The bottom line: know who you’re dealing with when it comes to trying to repair your credit. Mistakes can cost you dearly, doing even more damage to your credit, creating even more debt problems, and sometimes costing large amounts of money.

Copyright © 2005 Jeanette J. Fisher - All Rights Reserved.

Forget what you’ve been told about credit. “Credit Help!” author Professor Jeanette Fisher was forced into becoming a credit expert. She loves helping people buy houses. Get the credit you need to buy one house or twenty. Visit Real Estate Credit Help Center: http://www.recredithelp.com

Credit cards have migrated from being hip or convenience product into a must have entity for everybody. Shopping Online you need a credit card. Wanna book a weekend rental you need a valid card to pick one. In order to register as a valid seller in many online sites you need a card. Like this the credit cards have evolved from being just convenience items into something you got to have or you will be denied many services. There is a lot of money being made by the credit card industry. Everything you buy has a credit card fee attached to it. If you pay by cash you still paying those fees since the merchants don’t offer a discount for cash or check payments. They are willing to pay the 2-3% charge to the credit card companies than give it back to you. If you are not using a credit card as your main payment method and enjoying the convenience it offers you are paying for nothing.

The cards come now-a-days not just loaded with a variety of features but they also come in many shapes and colors. Have you seen the new discover cards? Well let’s take a look at the important features you should evaluate the credit cards against.

1. The credit limit: This is the amount you are allowed to spend using the card. Be careful while choosing the right amount. This is important in two angles; the first is how much purchasing power you are willing to guarantee to pay back. The other is what your spending style is. Many folks don’t know that reaching close to your credit limit is not good for your credit history. Are you a responsible person and wanted to keep the limit low but you use up 90% and constantly pay every month? You may want to increase your limit so that your credit score is not affected by this usage pattern.

2. APR: This is the interest rate you have to pay for the amount you owe in the credit card. Obviously look for the best rate you can get. Regularly contact the customer service to bring down the APR. These companies increase it regularly; you should contact to keep it at the same rate.

3. Annual fees: This should be zero.

4. Online payment option and activity checking: You should choose the bank that offers a good and comprehensive online tool to check and evaluate your use. They should give you features like auto payment options. This is a lot useful as you will have a way to check the account usage. If you are planning on a shared card it is a must have to monitor.

5. Late Fee and additional charges: Although being late is bad, you will end up atleast once a year being late to pay the dues. You may want to make sure they don’t add it to your credit history even for one late payment. And the fees! yeah check out the agreement.

6. Rewards and additional benefits: The current trend is offering cash back on purchases or points for purchasing with preferred vendors. This is free money as well it is a better way to save on the purchases you are anyway going to make. The additional benefits include insurance coverage, miles and more. Evaluate these carefully as they may be worthwhile.

7. Read about the reviews: Although you can evaluate the card by yourself, you may want to read about what others have to say about the card. It is these review sites that shed some light on the crappy customer service or the hidden charges. You should and must employ the many review websites to choose the best card that fits your need and lifestyle.

Don’t forget those fraud protection capabilities that come with the card. You don’t want to be stranded because someone misused your card and you are stuck in nowhere land without any money.

Here is one good website for credit card application and to read about the reviews. http://www.smartcardshopper.com

Author does freelancing through the no fee free freelance website freelancefree.com.

If you are experimenting with e-commerce, you are probably eager to accept credit cards on your Website. After all, you will be able to attract, impress, and sell to clients from anywhere in the world, and many of them will be ready to pay by credit card at the point of sale. So what’s holding you back?

For one thing, you will need a merchant account to accept credit cards on your Website. An established bank, credit union, or financial broker must extend merchant account privileges to your business and provide a gateway that will let your Website accept credit payments. Find a merchant account broker that you can trust, check out the terms, and apply when ready. You will have to show that your company is solvent, that you can pay merchant account fees, and that you are not involved in anything illegal. Many companies let you apply online in a matter of minutes, and a day or two later you may receive email verification of approval. Then you are ready to begin selling products or services at your Website.

Be careful when setting up your merchant account to accept credit cards on your Website, however. Don’t buy more Website processing features than you need. Start with basic processing services and build from there as needed. It may take time to get the word out about your company, but using marketing strategies and posting with search engines can guide interested customers to your site. Make your Website attractive and efficient so that customers will enjoy shopping there. If you aren’t sure how to do this, hire a Web consultant to do the work for you.

In fact, in addition to seeking to accept credit cards on your Website, keep in mind that it helps to build a client base by providing a free or useful service to visitors at your site. A friendly piece of advice about the industry you are involved in, a quick survey, or a helpful hint that connects your product to the customer’s need can build good will and keep your company in the forefront of their thoughts for the next time they need whatever it is you are selling. Your Website should be arranged in orderly fashion so that each page is easy to navigate and links readily to the others. Don’t overload your site with unneeded information or tons of ads, which will turn many potential customers away. Keep it clean and simple, and cater to customers’ needs, and they will come backand perhaps bring their friends! Don’t add too many bells and whistles or they may forget why they are therewhich of course, from your perspective, is to shop and buy things.

When you accept credit at your Website, you make shopping easy and fun for your customers. Many will bookmark your site and return often to see what new wares are available. Put out the welcome mat along with your credit processor so that people from around the globe will know that you are ready to accept credit cards on your Website.

Shane Penrod is the founder of http://www.merchant-account-quotes.com Specializing in allowing merchants the ability to shop and compare multiple quotes from national merchant account providers. For free quotes on merchant account rates and fees, please go to http://www.merchant-account-quotes.com.

If it sounds unlikely to be true, it probably is. This rule holds true even when it comes to credit repair. More often than not, the promises of certain credit repair companies to help clean up your credit history are completely false. Here are some of the things they will ask you to do in order to ‘repair’ your credit:

Get a new identity

Some companies will try to get you to create another identity - one with no bad history - as a means to clear all your bad credit history. Not only is this impossible, it is also against the law to have another social security number to your name.

Submit incorrect information

Rather than work on your bad history, these companies insist that you submit incorrect information pertaining to your purchases. This is so that you can dispute the information or get the company to ‘correct’ certain bad histories to make your credit report look better. Technically, it is a good idea but in reality, you are committing fraud.

Pay them to get you your credit report

Under certain circumstances, you are able get a free credit report without having to pay a credit repair company for it. If you are denied the application for a credit card, you can ask for your credit report within 60 days for free. In the event that you spot a mistake within the report, you have the rights to contact both the reporting company as well as the information provider for a dispute. An investigation will ensue and within a month, the problem will be rectified - all without a fee.

Payment first, service comes later

In reality, no individual or agency can legally rid your credit report of any bad history. Some companies will ask for payment from you to help clear up incorrect information, which can be done by yourself for free. Others will ask you to send them checks so they can handle the ‘payments’ for you, then vanish into thin air months later. Regardless of the reasons they give you, if you do not receive your ‘goods’ upon payment, they have committed an offence, punishable by law.

Adam Goldman recommends Find Credit Cards to apply for a Morgan Stanley card.

If you are attempting to change your bad credit rating, it may be worthwhile to obtain a bad credit credit card. Applying and getting approved for a major credit card with a low credit score is difficult. The majority of credit card companies offer unsecured credit lines. Because credit card companies do not want to risk a bad credit applicant refusing to make payments, they simply decline credit to those with a low rating. Fortunately, there are secured credit cards to help individuals with poor credit.

Types of Bad Credit Credit Cards

Some credit card companies that offer bad credit credit cards may be willing to extend an unsecured line of credit. However, the credit limits are usually small. This way, lenders have fewer risks.

Getting approved for an unsecured credit card with a very low rating is tricky. Some people apply with several companies until a credit approval is granted. However, too many credit inquiries may cause further damage to your credit rating. Rather than submitting several credit applications for an unsecured card, attempt to get a secured card.

Benefits of a Secured Bad Credit Credit Card

There are many benefits to obtaining a bad credit credit card. For starters, secured cards are easier to qualify for. Before a credit application is approved, those applying are required to open a savings account with the company, and make an average deposit of $250 to $500. The savings account acts as the collateral.

If you have bad credit, restoring your credit rating is essential. A low credit score makes it difficult to get approved for home loans, auto loans, etc. In some cases, employers will not hire people with poor credit.

Quick Bad Credit Credit Card Approvals

Try using one of ABC Loan Guide’s Recommended Instant Approval Bad Credit Credit Card Companies.

Instant approval bad credit credit cards are available. You may apply for these cards over the phone or online. Applying online is very convenient, and approvals are instant. Credit cards have different terms and rates. Prior to choosing a credit card, read the fine print and compare various credit card offers. For example, what is the interest rate, late fees, grace periods, etc?

View our recommended companies for Online Credit Card Approval. Also, view our recommended sources to Check Your Credit Report For Free.

Prepaid credit cards begin to rise in popularity during the late 1990s. More people are using them today. What are prepaid credit cards, and what advantages do they have over traditional credit cards? In this article I will go over this in detail.

Credit card companies have realized that many people don’t meet the necessary credit requirements to use their cards. Even people who do qualify often fail to pay back the debts they owe and file bankruptcy. This has caused credit card companies to suffer massive losses.

The credit card companies begin offering secured cards in order to combat this. Customers would be able use their cards without fear of going into debt. Once customers established that they were responsible using these, credit card companies would then begin slowly giving them more credit.

This was the forerunner to the prepaid credit cards used today. The primary difference is that users are given credit for purchases made using these newer types of cards. You are able to set the limit you want on the card by adding the necessary funds into the account.

In the past, credit card companies set the credit card limit, and it was up to the consumer to make sure they didn’t go over it. It was very difficult to track your purchases, and you weren’t able to add any funds other than what the credit card company added.

Because of this many people would go over their limits, spending money they didn’t have. This caused people to get into serious debt they couldn’t escape from. By using prepaid credit cards, you only add the money that you actually have, instead of being credited money by the credit card company.This allows you to keep better control over your finances.

This creates a situation in which both credit card companies and consumers win. Credit card companies minimize their losses by allowing consumers to add their own funds. Consumers win by using their own money and setting their own limits instead of relying on the funds given to them by credit card companies. This greatly reduces their chances of going in to debt.

Having good credit is an important part of succeeding financially today. You want to use tools which reduce the chances of you getting into debt instead of increasing them. Using prepaid credit cards are a tool which will help you achieve this, and keep better control over your finances.

The writer of this article is the webmaster of http://www.prepaid.offers-deals.com Prepaid Credit Cards Website. On this website you can find information about prepaid credit cards and a list of vendors that sell these credit crads over the internet.

With the fast pace of our everyday lives, we don’t have time for anything really. This is where the combined power of commerce and technology comes in. The capability to apply online for a credit card is one such example. Yes, you can apply online for a credit card. The revolution behind providing you with the ability to ‘apply online for credit card’ is called ‘internet’. You can not only apply online for credit card but also use your credit card to do online shopping (and get the goods delivered to your door at no extra cost compared to the local store).

So, it is possible to apply online for a credit card. To apply online for credit card, you just have to fill-in an application form that is presented to you on the website of the credit card supplier (who provides the capability to apply online for credit card). This application form is very similar to the one you would have filled-in in person - the details asked are same and the processing of the application is same too. You will find that a lot credit card companies encourage you to apply online for credit card. This is because they save on the costs related to salary of representatives, paper, etc.

Moreover, when you apply online for credit card, your details can smoothly flow into the database of the credit card supplier i.e. the manual intervention is minimal when you apply online for credit card. This will in turn lead to faster processing of your application. Though it is not necessarily true, if you apply online for credit card, your credit card might reach you much faster. Moreover, if you apply online for credit card, you save on all the time and hassle associated with approaching a credit card company etc etc. You can compare the credit cards (again online) before you apply online for credit card.

Some people don’t like to apply online for credit card. The main reason is their discomfort in giving out the personal information online. One quick check, before you apply online for credit card, is to see if the website address of the page (where you are required to enter your details) starts with ‘https’. ‘Https’ indicates that it’s a secure website (you might also check if the security certificate is provided by a reputed organization e.g. Verisign). If you don’t see an https, you should not apply online for credit card of that company. Besides that, some people don’t apply online for credit card because they are not comfortable in filling up the form all by themselves. In such a case, you might either not apply online for credit card (and apply in person instead); or you might just go through the form, note down your questions/problems and seek the answers by calling the customer service center of the credit card company.

So, applying online for credit card is surely a good option.

What was started as an online store, has turned into a growing collection of internet resources on subjects ranging from Network Marketing, Investing, Health, Travel and even Credit Cards. Visit http://www.mjesales.com for our store or http://www.mjesales.com/articles.htm for more articles. This article may be reproduced only in its entirety.

If you have a credit card (most Americans have over 10) then you’ve probably received an offer called a “payment holiday”. You’ll receive a letter that says something to the effect, “That because XYZ Credit Card Company understands how difficult it is for some families around this time of year to make ends meet (or whatever other excuse they can come up with) that you are being given the opportunity to take a month off from making your monthly payment as a ’special gift’ and thank you for being such a valuable customer.”

Sounds Good on the Surface but Why Are They Doing It?
Typically, payment holiday offers have a high acceptance rate. A high percentage of individuals feel it’s a wonderful thing to be able to take a month off from the stress of having to make another payment. However, what they don’t usually realize is that these so-called “holidays” really aren’t a gift at all. They are simply are way to increase profits for the credit card companies.

It’s a Win-Win For the Credit Card Companies
Hmm… So how can letting me skip a payment earn them more money? Well, here’s where the slight of hand comes in. If you read the small print in any credit card agreement you’ll quickly realize that the payment holiday isn’t interest free. You are still being charged interest and because you’re not paying anything back for a particular month that interest will be there next month for you to pay compounded interest on or interest upon interest.

Here’s an example that hopefully with help clarify the principal I’m trying to convey. Let’s say you were paying back $1000 of debt at 1.5% per month (or about 19.5% per year) with a minimum payment each month of 2% (or about 26.82% per year).

If you made the minimum payment for all 12 months, you would have paid back $233.51 and you would still 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.

However, if you were to take a payment holiday you would pay 2% per month for only 11 months or (24.3% on your debt) or $217.80 and you would still owe $960.55 at the end of the year. You end up paying about $38 for the privilege of not making a single payment of about $20 (2% of $1,000). 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 suppose to be confusing. In fact, it was specially designed by mathematicians and marketers to be as confusing as possible to keep you from being able to figure out what a bad deal you’re getting. Case in point, if you hadn’t read this article would you have thought twice about turning down the next “payment holiday” offer you receive? And remember… don’t fall for it because the more you owe, the more that “holiday” will cost you. Instead, you should consider doing everything you can to pay off all your debt as quickly as possible.

If It Sounds Too Good
The old saying, “if it sounds to good to be true then it probably is” certainly applies here and remember that no-one ever gives away anything of value for free, that is with no strings attached - especially the credit card companies. Anytime they offer you anything, it’s because they are going to make a profit and if you can’t see how they benefit, be suspicious because it’s probably just the next slight of hand trick to come down the pipe that is being used to quietly milk you out of a little more interest.

This article may be reproduced only in its entirety

Kevin Erickson is a contributing writer to: Debt Management | Credit Card Debt | Consolidate Debt

Generally cars above 15 years old are classified as ‘Classic’, those above 25 years as ‘Antique’ and even older as ‘Vantage’. While possessing antique cars is a matter of pride and sort of a prestige symbol for its owners, safe guarding it is as important as owning the vehicle. Owning an antique car is in most times as costly or more than owning a new car. This is because there are many people involved who are in the passion of collecting antique cars. It is where antique car financing comes handy. Nowadays antique car financing are provided by many lenders; you just need to search for the best type of loan which suits your needs.

Antique car financing is offered to any individual who has excellent credit, at the submission of valid income certificates. This doesn’t mean that you will not get an antique car loan if you are a self employed who is not able to produce income statements to prove your income. Now there are number of money lenders who specialize in antique car financing. Most antique car financers need you to put down at least 10 percent on the purchase price of the antique car. In most cases the lending terms, interest rates and down payment will be based on a borrowers’ credit profile.

For many antique car enthusiasts, owning an antique car is a memory, a hobby, and sometimes an investment also. Before applying for antique car finance, let us look in detail whether you can afford an antique car or not. If you think you can afford an antique car, the next step is to check and determine the value of the antique car you wish to buy. Make a little research in the history of the antique car. You also have to check for any alterations and flaws as these changes will make noticeable change in the value of the antique car. Also determine the antique cars status and how much it is worth if you resell it in any later stage. All these things are vital in securing antique car financing.

Theses are some of the basic facts an antique car enthusiast must be aware of about antique car financing. Antique car financing is offered for a minimum amount of $6,000. Most lenders need the minimum purchase price of the antique car to be $7,000. Based on the loan amount and credit profile the loan period generally ranges from 60 to 84 months. The interest rate will also vary according to the loan amount and term.

With the advent of internet you can now apply for antique car loan through internet. There are numerous websites which offers antique car financing. Search in the internet for the best deal available today. Before choosing any antique car financer you must compare different money lenders loan terms, interest rates and payments. This will help you to choose the best one available in the market.

Sonali Sen for http://www.affordableantique.com
Read more about Antiques http://www.affordableantique.com/Antique-Appraisals-Certification.html
Copyright 2005 http://www.affordableantique.com

Traditionally there have been two groups of people who have always found it very difficult to get access to credit cards. These two groups are listed below:

People with no, or very little income
People with negative credit histories

These two groups would have found it next to impossible to get approved for credit cards in the past. However, nowadays it is becoming easier and easier to get your hands on a credit card and accordingly, these groups are finding it easier to get access to credit cards.

The reasons for this are that the competition in the UK credit card industry has increased dramatically in recent years. As more and more players have entered the market, it is now possible for almost anyone to get a credit card. Many credit card providers from the US have entered the UK credit card industry while at the same time, there are internet and other non traditional providers who are also all fighting for a share of the lucrative UK credit card market. As a result they are willing to lend to more and more people who in the past would have been regarded as simply too much of a credit risk.

What this means for students is that while in the past they may not have been able to get their hands on a credit card, it is now relatively easy for them to do so. This has many advantages for students as it means they have a means of paying for goods and services online that do not accept the more common debit cards that students have had to limit themselves to in the past. The other main benefit of student credit cards is that they can use them while abroad travelling and this no doubt is a welcome convenience for the student population.

There are disadvantages to having a credit card as a student however. The main disadvantage is that it is very easy to get into credit card debt very quickly. Frequently the spending limits on student credit cards are thousands of pounds and any student who spent all of this would be finding it very difficult in deed to get the money paid off. At the same time, with interest rates among the highest in the lending industry, any student who does rack up a high credit card debt will find the debt increasing rapidly at such a rate that it will surely be unmanageable without drastic steps.

The other disadvantages of student credit cards are dwarfed by the risk of getting into debt problems and therefore, if you think there is any chance that you will not be able to handle the responsibility of a credit card and keep your spending under control, then probably a student credit card would not be the best idea in your current circumstances.

Please remember, using a student credit card is not always a bad idea, taking out a student credit card at a time when you have no previous credit record may be a good idea. This would enable you to build up a healthy credit record, so when you are finally ready to apply for a better credit card that comes with better offers, there is a higher chance that your application will be successful.

Peter Kenny is a writer for creditcards-gb
For additional articles and an extensive resource for everything about credit cards, please visit us at Credit Cards 0% and Credit Cards
www.creditcards-gb.co.uk