Archive for Credit card
There is Life After Debt!
Posted by: | CommentsShould you find yourself in debt, in order to pay any creditors it is advisable to sell some of your possessions. Think long term regarding this – losing a few ‘precious” things now will get you out of debt and once you are back on track you can replace them. If things are a little more serious and it is a car loan or mortgage or indeed both that you cannot repay, think seriously about selling. You may find yourself in the fortunate position of not only having enough funds to pay off your debt, but there may even be some money remaining. If you don’t have anything worth selling it is advisable for you to investigate the possibilities available to help you repair your credit and then start over building your credit rating.
Another obvious choice is to reduce your spending to save money, putting these savings into reducing your debt. Most people buy things they really don’t need and there are plenty of others who are willing to buy these same things, so a garage sale can be a fantastic way to raise a few extra dollars towards the bills. EBay is also an excellent place to sell items you no longer need.
Another possibility is to negotiate with your credit providers. Many creditors are willing to reduce monthly payments for a period of time to help you get back on track as they view any payment, no matter how small, as preferable to receiving nothing. Nothing is really impossible. What can you do to reduce your expenses and start getting your life back?
How much are you spending on groceries each week? Do coupons help you to save? Do you choose items that are on sale or do you insist on paying for higher priced brands? Have you considered buying your groceries in bulk?
We know that to build credit requires money. Using coupons or buying sale items will help – the money you don’t use on these will go towards your credit bills. Gas is another expensive item. Do you really need to travel so much by car? Perhaps the car is using more gas because it needs a service. Have you thought about carpooling? Could you share the gas bill with one or two other people at work? Every little bit helps.
What can you do to reduce the bills at home? Are you careful with electricity, gas and other utilities? Can you sacrifice your cable or satellite TV for a few months to enable you to catch up on your bills? Think about borrowing books from the library rather than buying them – libraries also often have magazines as well, so you can save by cutting down on your subscriptions.
Do you buy your lunch for work or do you take it from home? There are many more savings options. Second hand clothing, going to sales to purchase necessary items, reducing your spending on vacations and gifts: all these little savings add up. How much more if you opt for balance transfer options for your numerous credit cards? Each little bit and every big portions will help you get your life back to normal.
Whether or not these suggestions are of any help to you, you may still consider purchasing a Credit Repair Kit. The $30.00 it may cost you is a small price to pay for repairing your credit. Take one step at a time and you will rid yourself of debt.
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Rush Card – Review
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Image by eikootje via Flickr
The baby phat rush card is a prepaid credit card. It was created by Russell Simmons he co founded the popular Def Jam record label.
This is how the rush card works; you deposit money into your card/account, then you use your card to make purchases, money is taken out of your account to pay for those purchases. This card does offer guaranteed approval.
There is no chex systems check or a credit check. The rush card comes as a black card and the baby phat rush card is a pink card.
This card offers free direct deposit. To use this you simply fill out a form and turn that into your employer.
Then you checks will be deposited into your rush card. You will still get a breakdown on your hours and how much the deposit was.
With this card you receive free online account access. You can also access your cash at over 800,000 ATM’s.
You can make purchases using your rush card online and over the phone. You can also use your account and write physical paper checks.
To do this you simply go online and fill in the payees details. This includes address, name, and amount of payment.
Then hit send and a paper check will be sent to the individual. The is a good method to use when paying your monthly bills, because you will not have to pay for money orders.
With this service and direct deposit you will also save money by not having to pay for check cashing fees.
However, we do not recommend the rush credit card. This is because they have many fees that other cards do not have.
An example is the convenience fee. This is a fee you are charged every time you use your card.
The charge for this fee is $1.00. There is a maximum charge of $10.00 a month however you will be charged this $1.00 fee every time during that month.
Then at the end of the month all the extra charges above 10.00 will be credited back to your account at the end of the next calendar month.
That can end up being a full 2 months before you are refunded. This is unbelievable especially because many of us use are card more than ten times in a month.
Furthermore to be charged for every purchase you make seems outrageous. Then to have to wait for a full calendar month to expire before you are issued your refund is unbelievable.
Also to use bill payment you must enroll which is $2.00 then every check you write is another $1.00. There are other prepaid credit cards that offer free bill pay and no fees.
The rush card claims there are no hidden fees however that seems to be a very contradictory statement. Especially when you are forced to read the fine print to discover that you will be charged one dollar for every purchase you make.
In sum, look at some other prepaid cards. They have fewer fees and better benefits for being a card holder.
Credit cards with the happiest users
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Image via CrunchBase Repair Your Credit Report within Two Months
Posted by: | CommentsImproving a poor credit score is very important and steps can be taken to begin credit report repair in 60 days or less. This involves both credit report repair and doing what you can to ensure that your credit rating is as good as it can possibly be. Of course, all your problems won’t vanish away within two months time, but you can certainly improve your credit rating greatly.
Credit History
Your credit history is your own unique record that lists the times you have borrowed and from which lenders as well as when you paid them back. Included in the report are each time that you failed to pay on time and bankruptcy. Whenever you hear terms like credit history, credit score, and credit reputation, you should realize they are all the same.
When a customer fills out an application for credit from a bank, store or credit card company, their information is forwarded to a credit bureau, along with constant updates on the status of their credit accounts, address or any other changes made since the last time they applied for any credit.
Pay Down Credit Lines
This might seem obvious, but it’s important to start with the most pressing need. If you want your credit score to go up, you need to have a lower debt utilization ratio. This means that you shouldn’t be using every bit of available credit that you are given. If you have some high interest cards that are near their limit, then paying down some of that debt will go a long way to helping with your credit report repair.
Have All Errors Fixed
It won’t take much time or effort to correct any wrong information. Because there is so much information that changes so often, creditors make mistakes. To make sure they haven’t made any mistakes on your personal information, you will need to get a hold of your credit report for review. Give your information a look over and make sure all purchases were made by you, so that you can ensure that you have not fallen victim to identity theft. Your information should be correct and up to date.
Make Contact with Your Creditors
Often times, your creditors can assist you with your credit report repair. If a person makes appropriate corrections regarding his accounts or brings it to his current account, his request to the creditors must be to update the present status on to his credit report. The creditor should take care of it within two months. Most creditors will help you in this case, as long as you have shown that you are making an effort to correct your wrongdoings.
Stay Away From Quick Fix Services
Though it may be tempting, there is absolutely no reason for you to test the waters with credit repair services. Most of these services offer you a great deal, but require you to pay up front. This is quickly becoming one of the most popular scams on the internet and many desperate consumers are falling for it under the pretense that certain companies can completely revamp their credit in a short period of time.
