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Bad Credit Credit Cards

Avoid Credit Card Debt And Live Debt-free

Bad Credit – Credit Cards
Bad Credit – Credit Cards Loans

Avoid Credit Card Debt And Live Debt-free

by Roger Guzman, M.D.
Avoid credit card debt? With the right frame of mind plus a dose of determination and discipline this is possible. No, don’t throw them away just yet because using them has some good points in their favor. There are frequent flier miles and dividend cash to earn and credit rating to boost. (continued below)

Avoid Credit Card Debt And Live Debt-free

(cont.)
A dose of prevention is worth more than a pound of cure. While it is true that teaching the young ones all about money could be such a turn off, still it is more worth than getting them out of debt that by that time would have cost hundreds if not thousands of dollars. There are so many resources that can help you do this.

It is no secret though that to get the most of this plastic money, it has to be used properly. To avoid credit card debt is easier than getting out of it which is quite a difficult task. Many have fallen into this financial hole and found out how hard it is to get out of it. Following are a few simple rules that will help avoid the credit card debt.

  • Manage your finances by creating a budget and sticking to it with the monthly income and expenses and 5 to 10% set aside for emergencies figured in before using the plastic money.
  • Establish good spending habits like not buying anything that you cannot pay for in full at the end of the month.
  • You don’t need more than one or two cards. Each one comes with a different set of rules and will be quite a responsibility to remember all the penalties, the interest rates, etc. especially if you don’t pay the full balance each month.
  • Use the right card with no annual fee and low interest rate.
  • Know the interest rate even down the road by looking it up in your statement as the credit card company can change your interest rate anytime for no apparent reason even when you do not have a balance.
  • Read the fine print even though it is such a bore because this can save you hundreds of dollars and a headache later on.
  • Treat it as cash instead of plastic money so buy only anything you can pay off in full at the end of the month.
  • Don’t use the credit card like a loan for it will be at a high interest rate.
  • Little extra expenses can sneak up on you so avoid them.
  • Avoid also cash advances for they incur the highest interest rate as much as 20% and you will continue paying this high interest until you have paid off all your purchases. Also there are transaction fees and no grace period for this.
  • They will also try to sell some protection products which you really do not need, so just say no.
  • Choose purchases wisely by making sure you are not accumulating a balance with interest higher than the dividend or the flier miles you will receive. Check all the interest rates and fees they charge.
  • Keep all receipts and check them against the statement. Report all charges that you do not recognize.
  • Monitor your charges so you do not go over the 30-50% of the available limit because if you go over that, your credit score could go down and interest rate could go up.
  • Pay the balance in full each month or you will pay a lot of money to them for the privilege. When this happens put away the plastic money until you pay off the balance.
  • Pay on time every bill you have for late payment on any of them could impact your credit card interest rate. Pay online so you will not be late.

There you have all the rules to follow so you will not get into trouble when using plastic money. Remember that there are good points for using them but they have to be used wisely or the money you work hard to earn will just go down the drain. Also when you follow the rules, you will avoid credit card debt.

About the Author
Roger Guzman, M.D.

Categories
Bad Credit Credit Cards

Gas Rebate Credit Cards: Think Again Before You Get One

Bad Credit – Credit Cards
Bad Credit – Credit Cards Loans

Gas Rebate Credit Cards: Think Again Before You Get One

by Scott Siegel
Gas rebate credit cards are a great thing right? After all, you get a discount on something you have to buy. Everyone needs to buy gas so why not get a discount on it?

This is the way most people look at gas rebate credit cards. Buying gas is a necessary evil so why not get something back for doing it. This logic make sense on the surface but if you look deeper into what it means to get a gas rebate credit card you may find out it is not an advantage to you at all. In fact, this type of card could be quite a disadvantage (continued below)

Gas Rebate Credit Cards: Think Again Before You Get One

(cont.)
Let’s start with the basic problem. This is a credit card. That means that you have to use it to get any benefit from it. Using the card means incurring debt. If you are in a financial position that you can absolutely without fail pay off the card in its entirety every single month then and only then does it make sense to consider getting this type of card.

For most of us, paying off all of our card debt each month is not a viable possibility. That being the case the last thing you need to do is to add another one to the mix. Do not add to your debt. Do not add another credit card to your wallet.

If you are an average driver, you spend about $1500 on gas per year. If you have a rebate card that pays you 5% back for your gas then you will get $75 back over the course of a year.

If you are late just once, on making a payment you will be charged $39 as a late fee. Now you only have $36 dollars of your cash back left. If you carry any balance at all you will have some interest. Even if the interest is only 3 dollars a month. You just ate up the rest of your cash back.

The only winner in this scenario is the credit card company. They managed to entice you to get a new card and they are getting fees and interest that more than make up for any rebate they might have given you.

If you are really looking for a safe way to get cash back for your gas purchases, look into customer loyalty cash back offers. Those rebates pay much more in the way of cash back and there is no credit card involved. No late fees and no interest and no impact on your credit.

About the Author

Scott Siegel author of Beat The Gas Pump 143 pages about saving gas and money at the pump. You can get $300 cash back for buying gas. Go to http://www.beatthegaspump.com . A better alternative to cash back rewards credit cards beatthegaspump.com.

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Bad Credit Credit Cards

Taking a Closer Look at Bad Credit Credit Cards

Bad Credit – Credit Cards
Bad Credit – Credit Cards Loans

Taking a Closer Look at Bad Credit Credit Cards

by Jimmy Jamm
The term “bad credit credit card” was coined to refer to credit cards that can be obtained even with a sub prime or bad credit rating. These cards provide the opportunity to citizens (with bad credit rating) to increase then turn around and improve their credit score. In a very real sense, these cards create a way for people with less than perfect credit to attain excellent credit legally and have become very popular in recent times due to their changes in the world economy. When used correctly, they can also be an excellent way to reign in spending. (continued below)

Taking a Closer Look at Bad Credit Credit Cards

(cont.)
These cards are also referred to as secured credit cards. The process of getting one is easy. All one has to do is open an account with the credit card supplier and keep up some cash balance of their own in the account. Why is that a necessity? It is because it helps the credit card supplier trust the person who has defaulted on his/her payments in the past. After all, most financial entities are typical businesses who care about profits and such risks are a risk to profits. However, it’s superlative to check this with the bad credit card supplier/bank to establish the exact terms and conditions. The credit limit on these secured credit cards are determined by the hard cash balance maintained in the bank account and is commonly between 50-100% of the limit. In some quarters, these are also referred to as debit cards, owing to the fact that they work less in a credit-giving method and more in a debit-giving mode. This term however is not commonly used.

There is an abundance of such credit cards accessible in the market. There are a few things you should consider when shopping for a secured or bad credit credit card.

  • The minimum balance mandatory to operate the account
  • The extent of the credit limit that you will receive (i.E. The percentage of your bank bank account balance that you are allowed to spend on your bad credit card card)
  • What other fees/and charges are applicable to the procurement of secured credit card card
  • The rate of interest that you will receive on the balance in your bank account

There are good secured or bad credit card credit cards that have a minimal fees and other charges. These would require nothing or a very miniature amount as smallest bank balance. The applicant would also be required to maintain something of 90-100% of bank balance as the credit limit. The interest rate would also be moderate to ideal and would be reasonable.

Bad credit credit cards have turned out to be a beneficial concept that provides respite to people with bad credit rating by letting them take pleasure in the benefits of credit cards while they mend their credit rating.

Looking for information on how to bad credit credit cards? Then check this complete guide on where and how to get a bad credit secured credit card.

About the Author
Ariel Pryor is a consumer credit expert who helps people with Bad Credit to find financing with loans and or credit card offers despite their credit history. Let me help you get back on track to wealth building, check out Credit Cards for Bad Credit. Let me help you rebuild your finances and get back to the financial rewards you deserve.

Article Source: http://EzineArticles.com/?expert=Jimmy_Jamm

Categories
Bad Credit Credit Cards

Get Credit Cards For Bad Credit With No Deposit Required

Bad Credit – Credit Cards
Bad Credit – Credit Cards Loans

Get Credit Cards For Bad Credit With No Deposit Required

by Ariel Pryor
Are you in need of a new credit card but don’t wish to make a deposit as is often required? Finding credit cards for bad credit with no deposit required can often be difficult, but if you know where to look there are offers that can help you avoid putting money down as collateral. Let’s explore some of the basics on how to find these credit cards and how to avoid a deposit. (continued below)

Get Credit Cards For Bad Credit With No Deposit Required

(cont.)
When it comes to credit cards for people with bad credit there are a couple options that are traditionally offered, and it is important to know the difference to avoid any up front deposits for approval. Generally, when your credit rating is extremely bad, you are reduced in options to either prepaid credit card offers and bad credit cards. Let us explore the difference between the two and find out where to find the best offer for your situation.

When searching online, prepaid credit cards for bad credit are a very common program that are easy to get approved for and do not require much in the way of a good credit history. These prepaid credit cards can provide easy approvals because they require you to fund, or deposit, cash into the account as collateral into the account before you are able to use them. These card offers are also sometimes called secured cards because of the requirement of up front deposits to offset the risks.

Some consumers stop their search for credit cards for bad credit with no deposit required right there, thinking there are no other alternative programs offered.

With a more in depth search one can also find that there are bad credit cards that offer programs that will fund that deposit directly from the credit line you get approved for, thereby making them no deposit credit offers for bad credit. Let us look at how these offers work.

These no deposit credit card offers will approve you for a credit line and instead of requiring a deposit will begin your credit line with this amount deducted from your total credit limit. In this way they can offset the higher risk of approval but still provide you with a credit card for bad credit with no deposit required. When faced with few other available options, this program can often provide the second chance required for you to reestablish a good credit history.

In summary, to find the credit cards with no deposit, you need to confine your search to programs that offer unsecured credit lines for people with bad credit. Secured cards and prepaid cards inherently require the deposit you are looking to avoid. Remember to maintain on time payments with your new credit card as there is no substitute for improving your credit score and the benefits that come from your rebuilt good credit history

About the Author
Ariel Pryor is a consumer credit expert who helps people with Bad Credit to find financing with loans and or credit card offers despite their credit history. Let me help you get back on track to wealth building, check out Credit Cards for Bad Credit. Let me help you rebuild your finances and get back to the financial rewards you deserve.

Article Source: http://EzineArticles.com/?expert=Ariel_Pryor