The Benefits of Prepaid Debit Cards
By Josh Ross
Consumers need major credit cards to pay for hotel reservations, car rentals, airline tickets, as well as for emergency and online shopping. If you don't like credit cards or can't get approved for one, what alternatives are there for you? Prepaid debit cards are an excellent alternative to credit cards. You can use a prepaid card as a credit card or debit.
Getting a prepaid card has many benefits, especially if you have no credit or bad credit. Here are a few of those benefits.
* A prepaid debit card helps you build or rebuild your credit: Many of these cards have credit building features, meaning that your card issuer will report your payment history to all three major credit bureaus. So, you could build substantial credit fairly quickly by opening an account with the same money you spend each month on necessities like food, gas, personal care products, etc. Rather than pay for these items with cash or check, use your card and at the same time build or repair your credit.
* It limits your fraud exposure: Identity theft fraud is on the rise. Stolen credit card numbers are a source of identity theft fraud. Using your credit card number, a thief could put you in debt for thousands of dollars while you are asleep at night. By contrast, your fraud exposure with a debit card is limited to the amount available in your account. As a result, a fraudster could never put you in debt.
* It also helps you control your personal debt: Credit card lures are often too strong and irresistible for some consumers, resulting in overspending and huge personal debt. You cannot overspend with a prepaid card because you can only charge up to the amount you have loaded on your card.
* It is safer to carry than cash: In addition, it offers the same level of security for your money as credit cards do. For example, if your card is stolen, you can protect your money by notifying the card issuer immediately and requesting that the card be canceled, just as you would if it were a credit card.
* It offers convenience and flexibility: You can use your card as a credit card or debit card to pay for anything anywhere in the world if it has a Visa or Master Card logo. And you can add cash to your account (or reload) at your local retail stores.
* It also helps you earn great rewards: Some prepaid card issuers, in effect, pay you in the form of rewards to use their cards. For example, Wired Plastic Prepaid Visa Card offers a FREE Rewards Program which allows you to earn 1 point for every $1 spent. You can redeem your rewards points for prepaid wireless airtime, music downloads, or LD calls.
A prepaid debit card is a sensible alternative to a credit card. With it, you can build or rebuild your credit, limit your fraud exposure, take control of your personal debt, and earn great rewards. Best of all, it costs much less to use compared to credit card.
Josh Ross is a financial Analyst with a 15-yr experience. Visit shopcreditcards247.com to compare and choose the perfect prepaid debit card for you.
========================================
How to Get Cash From Your Credit Card Without Getting Charged the Cash Advance APR
By Alex F Luy
This is good for any time you need cash without asking your credit card company for a cash advance. Credit cards have 2 APR's, one for purchases and another one for cash advances. The APR's for cash advances are much higher than for purchases. There are sites out there that offer this for a fee, making a charge for cash for a purchase and giving you the cash for it.
They make a cut out of sending you a check, at the same time charging your card for the cash. For example, if you are going away on vacation, let's say you need 400 dollars spending money. If you asked your credit card for a cash advance, at the end of your billing cycle you would have to pay 481 dollars back at 20% APR. This is just an estimate, so it could be more with other fees padded to the 481 like ATM fees and other fees. This is because the credit card company is giving you a cash advance at the cash advance APR and this is a cash advance purchase and not a normal merchant purchase.
An example is if you place an order for a 400 dollar cash gift, they will charge your credit card for 430, 400 dollars cash for you and charge you a service fee along with it. So at the end of your billing cycle, this charge will appear as a purchase, and not a cash advance. So depending on your normal APR, you can pay the amount in full at 430. By doing this not only are you getting the cash at a normal Credit card APR rate, but you are also gaining points depending on the program you are signed up at with your credit card. And if you are gaining points, you may be eligible to get cash back from your credit card company so you will recover your fee through your credit card company. You are getting probably going to get charged 3% for the amount as well as 15.9 % APR from the time you get the money in your hands. So the interest in a cash advance adds up until the end of your billing cycle.
Aside from these charges, the cash advance has no grace period so the interest starts accumulating right away. If you use the services from one of these websites, you don't have to worry about all these fees, all you have to worry about is your present APR because you are making a cash gift purchase plus the fee for the dollar amount. I've done this every time I've gone on vacation to get extra cash money to spend as well as when I take trips to Atlantic City.
Alex Luy
At Getcashforcredit http://www.getcashforcredit.com, we provide this service at the lowest cost possible and have competitive fees compared to other lending sites. We have an innovative idea for finance and provide the best way to get cash for our customers.
=========================================
Checking Your Credit Report Can Save You Money
By Kyle Bumpus
Did you know that one in four consumer credit reports contain errors serious enough for lenders to deny you access to the best rates or even refuse to lend you money entirely? Unbelievable as that may sound, it's true! The cost of an error on your credit report can range anywhere from a few bucks to literally tens of thousands of dollars if you plan on taking out a hefty mortgage. With such large sums of money at risk, it pays to check your credit report periodically to make sure everything is in order and to ensure you aren't in for an unpleasant surprise next time you need to borrow money.
What Types Of Errors Can Occur?
Any number of errors can pop up, most of them innocent mistakes. For example, it's relatively common for names to be spelled incorrectly, resulting in a particular piece of credit history failing to appear on your credit report. Another common typo that can cause problems is an incorrect birthday. The exact formula is a secret, but some people believe age to be a minor factor in your credit score.
Another common error is for various account statuses to be out of date. For example, if you closed a particular credit card 3 years ago, your credit report should reflect that. Sometimes, however, closed accounts are never updated on your report, which can skew your credit utilization ratios down the line.
Additionally, sometimes large loans such as auto or mortgage loans can appear twice, making it appear that you owe twice as much money as you really do. I don't have to tell you what havok that could wreak on your credit score!
What To Do?
All told, almost 79% of all credit reports contain errors of some sort. Most of these errors are harmless, it's true, but with so much money on the line, it would be unwise to take a chance. Thankfully, the government has mandated that consumers have access to one free credit report per year from each of the three major credit reporting agencies. Everybody should make it a point of cashing in on each of these three free reports every year, just to be safe.
Visit amateurassetallocator.com for more information about annualcreditreport.com, the website set up by the U.S. government to make sure all consumers have free access to the contents of their credit report as well as other great content such as, just how safe is your safe deposit box?
============================================
How You Can Negotiate With Credit Card Companies
By Philip P Wilson
Don't believe that you are a slave to credit card companies and to their high-interest and high-free ways. Sometimes, all you have to do is to ask. Here are some way to enjoy a lower rate (and remember a lower rate means less money out of your pocket in the long run):
• Pick up the phone - There is a reason that there is a customer service number printed on the back of most credit cards (if they aren't there, you can always grab one off your monthly bill). State that you are unhappy with your current interest rate and that you would like it lowered. Don't be afraid to speak to customer service people, they are just doing their job.
• Be Prepared - If you are going to threaten to move your credit card balance elsewhere (and keep those offers from other cards in case they call your hand), be prepared to do just that. Credit card debt is not something to be played with lightly, it is your money and you deserve to remain in control.
• Be Calm - It does you no good to scream, rant, or be out of control. Project a feeling of calm and professionalism and you will be treated in accordance. If the person on the other end does not show you the same courtesy, hang up and try again. Your first point of contact does not have to be your only point of contact.
• Ask for the Moon - It is all a matter of negotiating skills. Ask for zero percent (who knows, you may get it) even though you probably won't get it on the first time. You'll get a much lower interest rate if you start with 0% offer on a current 22.99% rate than if you begin with an offer of 21%. If they come back with an interest rate that is not what you want, counter.
It takes a concentrated effort on your part to eliminate your credit card debt. There are lots of resources out there.
Phil Wilson
http://www.money-for-my-life.com/ - a site for helping people make money
http://moneyformylife.blogspot.com/ - a blog to help people save money.
By Josh Ross
Consumers need major credit cards to pay for hotel reservations, car rentals, airline tickets, as well as for emergency and online shopping. If you don't like credit cards or can't get approved for one, what alternatives are there for you? Prepaid debit cards are an excellent alternative to credit cards. You can use a prepaid card as a credit card or debit.
Getting a prepaid card has many benefits, especially if you have no credit or bad credit. Here are a few of those benefits.
* A prepaid debit card helps you build or rebuild your credit: Many of these cards have credit building features, meaning that your card issuer will report your payment history to all three major credit bureaus. So, you could build substantial credit fairly quickly by opening an account with the same money you spend each month on necessities like food, gas, personal care products, etc. Rather than pay for these items with cash or check, use your card and at the same time build or repair your credit.
* It limits your fraud exposure: Identity theft fraud is on the rise. Stolen credit card numbers are a source of identity theft fraud. Using your credit card number, a thief could put you in debt for thousands of dollars while you are asleep at night. By contrast, your fraud exposure with a debit card is limited to the amount available in your account. As a result, a fraudster could never put you in debt.
* It also helps you control your personal debt: Credit card lures are often too strong and irresistible for some consumers, resulting in overspending and huge personal debt. You cannot overspend with a prepaid card because you can only charge up to the amount you have loaded on your card.
* It is safer to carry than cash: In addition, it offers the same level of security for your money as credit cards do. For example, if your card is stolen, you can protect your money by notifying the card issuer immediately and requesting that the card be canceled, just as you would if it were a credit card.
* It offers convenience and flexibility: You can use your card as a credit card or debit card to pay for anything anywhere in the world if it has a Visa or Master Card logo. And you can add cash to your account (or reload) at your local retail stores.
* It also helps you earn great rewards: Some prepaid card issuers, in effect, pay you in the form of rewards to use their cards. For example, Wired Plastic Prepaid Visa Card offers a FREE Rewards Program which allows you to earn 1 point for every $1 spent. You can redeem your rewards points for prepaid wireless airtime, music downloads, or LD calls.
A prepaid debit card is a sensible alternative to a credit card. With it, you can build or rebuild your credit, limit your fraud exposure, take control of your personal debt, and earn great rewards. Best of all, it costs much less to use compared to credit card.
Josh Ross is a financial Analyst with a 15-yr experience. Visit shopcreditcards247.com to compare and choose the perfect prepaid debit card for you.
========================================
How to Get Cash From Your Credit Card Without Getting Charged the Cash Advance APR
By Alex F Luy
This is good for any time you need cash without asking your credit card company for a cash advance. Credit cards have 2 APR's, one for purchases and another one for cash advances. The APR's for cash advances are much higher than for purchases. There are sites out there that offer this for a fee, making a charge for cash for a purchase and giving you the cash for it.
They make a cut out of sending you a check, at the same time charging your card for the cash. For example, if you are going away on vacation, let's say you need 400 dollars spending money. If you asked your credit card for a cash advance, at the end of your billing cycle you would have to pay 481 dollars back at 20% APR. This is just an estimate, so it could be more with other fees padded to the 481 like ATM fees and other fees. This is because the credit card company is giving you a cash advance at the cash advance APR and this is a cash advance purchase and not a normal merchant purchase.
An example is if you place an order for a 400 dollar cash gift, they will charge your credit card for 430, 400 dollars cash for you and charge you a service fee along with it. So at the end of your billing cycle, this charge will appear as a purchase, and not a cash advance. So depending on your normal APR, you can pay the amount in full at 430. By doing this not only are you getting the cash at a normal Credit card APR rate, but you are also gaining points depending on the program you are signed up at with your credit card. And if you are gaining points, you may be eligible to get cash back from your credit card company so you will recover your fee through your credit card company. You are getting probably going to get charged 3% for the amount as well as 15.9 % APR from the time you get the money in your hands. So the interest in a cash advance adds up until the end of your billing cycle.
Aside from these charges, the cash advance has no grace period so the interest starts accumulating right away. If you use the services from one of these websites, you don't have to worry about all these fees, all you have to worry about is your present APR because you are making a cash gift purchase plus the fee for the dollar amount. I've done this every time I've gone on vacation to get extra cash money to spend as well as when I take trips to Atlantic City.
Alex Luy
At Getcashforcredit http://www.getcashforcredit.com, we provide this service at the lowest cost possible and have competitive fees compared to other lending sites. We have an innovative idea for finance and provide the best way to get cash for our customers.
=========================================
Checking Your Credit Report Can Save You Money
By Kyle Bumpus
Did you know that one in four consumer credit reports contain errors serious enough for lenders to deny you access to the best rates or even refuse to lend you money entirely? Unbelievable as that may sound, it's true! The cost of an error on your credit report can range anywhere from a few bucks to literally tens of thousands of dollars if you plan on taking out a hefty mortgage. With such large sums of money at risk, it pays to check your credit report periodically to make sure everything is in order and to ensure you aren't in for an unpleasant surprise next time you need to borrow money.
What Types Of Errors Can Occur?
Any number of errors can pop up, most of them innocent mistakes. For example, it's relatively common for names to be spelled incorrectly, resulting in a particular piece of credit history failing to appear on your credit report. Another common typo that can cause problems is an incorrect birthday. The exact formula is a secret, but some people believe age to be a minor factor in your credit score.
Another common error is for various account statuses to be out of date. For example, if you closed a particular credit card 3 years ago, your credit report should reflect that. Sometimes, however, closed accounts are never updated on your report, which can skew your credit utilization ratios down the line.
Additionally, sometimes large loans such as auto or mortgage loans can appear twice, making it appear that you owe twice as much money as you really do. I don't have to tell you what havok that could wreak on your credit score!
What To Do?
All told, almost 79% of all credit reports contain errors of some sort. Most of these errors are harmless, it's true, but with so much money on the line, it would be unwise to take a chance. Thankfully, the government has mandated that consumers have access to one free credit report per year from each of the three major credit reporting agencies. Everybody should make it a point of cashing in on each of these three free reports every year, just to be safe.
Visit amateurassetallocator.com for more information about annualcreditreport.com, the website set up by the U.S. government to make sure all consumers have free access to the contents of their credit report as well as other great content such as, just how safe is your safe deposit box?
============================================
How You Can Negotiate With Credit Card Companies
By Philip P Wilson
Don't believe that you are a slave to credit card companies and to their high-interest and high-free ways. Sometimes, all you have to do is to ask. Here are some way to enjoy a lower rate (and remember a lower rate means less money out of your pocket in the long run):
• Pick up the phone - There is a reason that there is a customer service number printed on the back of most credit cards (if they aren't there, you can always grab one off your monthly bill). State that you are unhappy with your current interest rate and that you would like it lowered. Don't be afraid to speak to customer service people, they are just doing their job.
• Be Prepared - If you are going to threaten to move your credit card balance elsewhere (and keep those offers from other cards in case they call your hand), be prepared to do just that. Credit card debt is not something to be played with lightly, it is your money and you deserve to remain in control.
• Be Calm - It does you no good to scream, rant, or be out of control. Project a feeling of calm and professionalism and you will be treated in accordance. If the person on the other end does not show you the same courtesy, hang up and try again. Your first point of contact does not have to be your only point of contact.
• Ask for the Moon - It is all a matter of negotiating skills. Ask for zero percent (who knows, you may get it) even though you probably won't get it on the first time. You'll get a much lower interest rate if you start with 0% offer on a current 22.99% rate than if you begin with an offer of 21%. If they come back with an interest rate that is not what you want, counter.
It takes a concentrated effort on your part to eliminate your credit card debt. There are lots of resources out there.
Phil Wilson
http://www.money-for-my-life.com/ - a site for helping people make money
http://moneyformylife.blogspot.com/ - a blog to help people save money.
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