| Your credit is bad. Perhaps you have a
| |
| | companies charge no annual fee. You
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| string of unpaid bills haunting your
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| | might think, then, that this is a better
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| past. Maybe you declared bankruptcy
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| | deal. Most often they are not. Cards
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| within the past 10 years, or defaulted on
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| | with no annual fee almost always have a
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| a student loan.All of the above can block
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| | higher interest rate. If you leave a
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| your access to obtaining a major credit
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| | monthly balance, you'll always pay more
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| card, such as VISA or Mastercard.But bad
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| | than the annual fee in interest charges.
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| credit is not the only reason you can be
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| | Only if you never leave an unpaid monthly
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| denied a major credit card. Some people
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| | balance can you benefit form a card with
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| simply have never used credit. People
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| | no annual fee.==================
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| who like to pay cash only, have never
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| | Perks and Freebies
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| financed a car, taken out a college loan,
| |
| | ==================One of those insidious
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| or a mortgage may have zero experience
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| | ways is the offer such perks as frequent
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| with credit. In that case, most card
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| | flier miles or annual rebates. Use the
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| companies will reject your application,
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| | card so often, and get X amount of
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| not because you have bad credit -- but
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| | frequent flier miles. Use your card, and
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| because you have no credit rating.Many
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| | get credit toward the purchase of an
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| women who marry young and do all their
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| | automobile. Is this a good deal? Hardly
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| borrowing under their husband's name
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| | ever. As you might have guessed, the
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| often find themselves with no credit
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| | offer of rebates and gifts is simply an
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| rating after they are widowed or
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| | inducement for you to pay super high
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| divorced. Thousands of women have been
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| | interest rates. Unless you are a big
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| denied loans and credit cards on that
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| | spender and travel a lot, you'll rarely
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| basis.Still other people carry too much
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| | benefit from this kind of
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| debt to be considered a good risk. If
| |
| | promotion.==========
|
| you have a car loan, a student loan, a
| |
| | Be Choosy
|
| mortgage, two or three -- out cards, you
| |
| | ==========In short, never sign up for a
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| are unlikely to be granted another credit
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| | credit card until you compare rates.
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| card.But in any and all of the above
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| | Shop around. Credit card companies are
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| cases, you can still obtain a credit
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| | just as competitive as any other kind of
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| card. No matter how bad your credit, and
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| | business. That means interest rates that
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| even if you have declared bankruptcy, you
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| | vary widely. In general, never go for a
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| can still be granted a VISA or Mastercard
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| | card that is five percent higher than the
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| with a limit as high as $5,000, if you
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| | current prime
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| know the right company to call, and how
| |
| | rate.========================
|
| to make your application.We are going to
| |
| | How To Get A Lower Rate
|
| reveal these card companies and the
| |
| | ========================What if you are
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| methods by which you can obtain a VISA or
| |
| | already on the hook with a major credit
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| Mastercard later in this report, but
| |
| | card with an agonizing rate of interest?
|
| first, let's talk about some of the other
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| | Pick up the phone, call your card
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| things you really should know about
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| | company, and get tough. Often, if you
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| credit cards, including annual fees,
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| | ask for a lower interest rate, you'll get
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| interest rates, credit reports and
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| | one -- it's as simple as that.As further
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| more.==================
| |
| | incentive, you can threaten to transfer
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| Your Credit Rating
| |
| | your balance to another card company with
|
| ==================How do credit card
| |
| | a lower rate. Many card companies are
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| companies decide if you are a good credit
| |
| | more than willing to take you on as a
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| risk or a bad credit risk? Well, it's
| |
| | customer by paying off one of their
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| sort of a Big Brother thing. There are
| |
| | competitors for you. Of course, you are
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| several large agencies in America which
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| | then beholden to them. That's okay if
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| track the borrowing and buying behavior
| |
| | you score a lower interest
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| of just about every single American who
| |
| | rate.=================================
|
| has borrowed money at one time or
| |
| | How Anyone Can Get a Credit Card
|
| another.The four major credit rating
| |
| | =================================Now
|
| agencies are:CSC Credit Service ::
| |
| | what about all of you "hopeless cases"
|
| (Phone: 800-392-7816)
| |
| | out there. What if you have deplorable
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| TRW Information Sys. ::
| |
| | credit, or no credit rating at all. You
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| (Phone: 800-392-1122)
| |
| | may have already been turned down by a
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| Equifax ::
| |
| | half-dozen card companies. What can you
|
| (Phone: 800-685-1111)
| |
| | do?First, you should think long and hard
|
| Trans Union Corp. ::
| |
| | about why you want a credit card in the
|
| (Phone: 800-851-2674)When you send in an
| |
| | first place. If you have a history of
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| application for a credit card, the card
| |
| | bad credit, a credit card may be the last
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| company contacts one of the above
| |
| | thing you need. Many people feel that
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| agencies, which pulls your file, if one
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| | credit cards and the debt they lead
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| exists, and let's the company know if you
| |
| | people into is a modern form of
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| have any bad debts in your background.If
| |
| | slavery.Credit cards are almost magically
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| you have never borrowed money or used
| |
| | deceptive and alluring. They get at the
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| credit of any kind, your name will not
| |
| | deepest psychological lever of the human
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| appear in the data base of any of the
| |
| | mind -- a lever which allows people to
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| above. If you have, there will almost
| |
| | have the feeling they are getting
|
| certainly be information about you. If
| |
| | something for free, when in fact, they
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| you have ever defaulted on a bill, or
| |
| | are paying two, three, four, even ten
|
| walked away from a debt owed, that
| |
| | times as much for that product because of
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| information will be available. If you
| |
| | the interest they will pay on each
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| have never defaulted on a loan, but have
| |
| | purchase.On the other hand, not having a
|
| made frequent late payments, that is
| |
| | credit card is becoming less and less
|
| recorded, too, and goes against your
| |
| | practical in modern America. You can't
|
| credit rating.======================
| |
| | rent a car without a credit card.
|
| 25 Percent Error Rate
| |
| | Carrying cash is dangerous. Checks are
|
| ======================If this sounds a
| |
| | not accepted everywhere -- and traveling
|
| bit like Big Brother, most would agree
| |
| | to another city or country is extremely
|
| with you that it is. It's scary to think
| |
| | difficult without the confidence and
|
| that some large anonymous corporation is
| |
| | identity a credit card
|
| keeping a file on you, but it's true.
| |
| | brings.===============
|
| Furthermore, they will share your file
| |
| | A Secured Card
|
| with any lending institution that wants
| |
| | ===============If you decide you really
|
| to know something about you. That's the
| |
| | need and want a credit card despite your
|
| price you pay to obtain credit. You've
| |
| | past problems with credit, you should get
|
| heard the statement, "there ain't no such
| |
| | what is called a secured credit card.
|
| thing as a free lunch."When it comes to
| |
| | Even people who have declared bankruptcy
|
| the game of credit, the lunch is
| |
| | are granted secured cards.A secured card
|
| definitely not free, neither in the
| |
| | works this way: you pay a lump sum of
|
| monetary sense, or in the realm of
| |
| | cash upfront either to your bank or the
|
| personal freedom.To top things off,
| |
| | card company itself, usually from $200 to
|
| credit agencies make errors in as many as
| |
| | $2,500. The card company will then grant
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| one-fourth (25 percent) of all their
| |
| | your credit for up to 150 percent of the
|
| reports. At this minute, false
| |
| | amount of your deposit. If you pony up
|
| information about you may be ruining your
| |
| | $500, you will be granted a $750 credit
|
| credit rating.To check your credit rating
| |
| | line. If you put up $1,000, you will get
|
| for errors, call the agencies at the
| |
| | $1,500 in credit, and so on.Your deposit
|
| numbers I provided above. They will
| |
| | money will earn a very nice 4 to 5
|
| request that you send them a written
| |
| | percent interest while it is held as
|
| letter asking for a copy of your credit
| |
| | collateral by your bank or the card
|
| report. They will send you a copy of the
| |
| | company. The deposit money acts like a
|
| information they have about you.Now let's
| |
| | buffer for the lender. In the event you
|
| look at how card companies make the big
| |
| | default on your card debt, the lender
|
| bucks -- interest rates.===============
| |
| | gets to keep your money. They may still
|
| Interest Rates
| |
| | incur a net loss, but the risk is far
|
| ===============A few decades ago there
| |
| | less.Additionally, the interest you gain
|
| were laws against charging the kinds of
| |
| | on your deposit will offset the interest
|
| interest rates credit cards get today.
| |
| | on your monthly balance if you have one.
|
| Exorbitantly high interest rates were
| |
| | If you get a secured card with an 18
|
| called "usury," and were forbidden by
| |
| | percent interest rate, you can feel good
|
| federal law. Just 30 years ago loaning
| |
| | about the fact that your pre-payment is
|
| money at 20 percent would have landed any
| |
| | earning 5 percent.Which card companies
|
| banker in prison. Such rates were the
| |
| | offer secured credit card plans?The
|
| territory of loan sharks and organized
| |
| | following:
|
| crime.Today, however, it's standard
| |
| | (At the time of writing, these details
|
| business. Some cards have rates
| |
| | are correct. If they change by any
|
| approaching 21 percent. Some product
| |
| | chance, you'll have to look up the
|
| manufacturers, such as Apple Computer,
| |
| | institutions in the Yellow Pages, or
|
| have credit plans that push a whopping 23
| |
| | simply do a search online.)CitiBank --
|
| percent.Most credit card companies
| |
| | Minimum deposit is $300, which earns 4%.
|
| attract customers with super low interest
| |
| | Call: 800-933-2484Federal Savings Bank
|
| rates, sometimes as easy as 5 percent.
| |
| | -- Minimum deposit is $250, which earn
|
| But what they only tell you in the fine
| |
| | 2.5%.
|
| print, which few people bother to read,
| |
| | Call 800-285-9090Orchard Bank -- Minimum
|
| it that the interest rate jumps back up
| |
| | deposit is $400, which pays 4%
|
| after six months. Many cards that start
| |
| | Call 800-873-7307Key Federal -- Minimum
|
| you out at 6 percent soon jump to 18
| |
| | deposit is $300, which earns from 4% to
|
| percent, or higher. By that time, most
| |
| | 5%.
|
| people have chalked up a balance and are
| |
| | Call 800-228-2230Signet Bank -- Minimum
|
| stuck. Most people simply fail to notice
| |
| | deposit is $200, which earns 5%.
|
| when their rate increases. Credit card
| |
| | Call 800-333-7116.Using a secured credit
|
| companies count on that. They like who
| |
| | card can also help repair your credit
|
| take no interest in details. If you
| |
| | rating if you use it responsibly over a
|
| don't watch them, they'll watch you --
| |
| | number of years.Even if you do not have
|
| and your wallet -- and dip into it in the
| |
| | bad credit, a secured credit card is
|
| most insidious ways.====================
| |
| | recommended for anyone who wants the
|
| No Annual Fee Cards
| |
| | safety and convenience of a credit card.
|
| ====================Some credit card
| |
| | Secured cards are a safe, responsible way
|
| companies charge no annual fee for use of
| |
| | to control your spending, and you
|
| their card. Annual fees range from $18 to
| |
| | actually earn money though interest on
|
| $55. You pay it every year simply for
| |
| | your deposit while you enjoy the use of
|
| the privilege of using the card. Other
| |
| | your card.
|
