avoid late fees to save money If you’ve just discovered that you’re actually living paycheck to paycheck then, it’s about time that you make the necessary changes in the manner by which you handle, not just the cash that goes directly to your pocket, but also your existing lines of credit. Pin ItAfter all, recent studies have shown that failure to live up to the terms and conditions of your credit account, most especially to your payment schedule, will cost you a great deal of cash, usually in the form of penalty charges. This means that the time, effort, and resources you’re willing to invest to avoid big expenses may all be in vain if you keep on incurring small yet regular fees, like interest and late payment charges. Now, let’s take a closer look at some of the pesky fees and charges we should all be wary of. Credit Card Late Fees Most people own at least one credit card and if you are a cardholder, you should ask yourself, “How well am I handling credit card repayment?” Do you pay your utilities on time?
How to Use Coupons to Save Money How to Use Coupons for Holiday Shopping 5.00/5 (100.00%) 1 vote As the holiday season draws nearer, consumers prepare to be confronted with bigger expenses. There are many tips on how you can save more from your holiday shopping. One of the most efficient strategies is to use coupons when you shop. Pin ItBut did you know that you can save even more if you can use your coupons the smart way? Know exactly what you need to buy. Cutting or printing out all the coupons you can find can be a waste of time and energy. Don’t buy items you don’t need. Consequently, just because an item is on sale does not mean you should go and buy it. Look for online coupon sites. In the past years, consumers had been using coupons to save on purchases by looking through magazines and newspapers. Use coupons for items on sale. Department stores usually hold annual sale events especially as the holiday season nears. Check the expiration date. Know the merchant’s policy. Check the coupon’s expiration date.
how to deal with money problems How to Reduce Money-Related Stress 4.50/5 (90.00%) 2 votes Money-related issues can lead to serious stress and anxiety, especially stuck in bad debt. What can you do in order to eliminate tension caused by a financial dilemma? Consider the following tips: Pin It1. Create a financial plan. 2. 3. 4. 5. 6. This article was written by the writing team of NewHorizon.Org. does it hurt your credit to cancel a credit card So you’re thinking about cancelling one of your credit cards. Perhaps you want to close out the account because your card has a high rate or maybe you feel that you just have too many credit cards and you’re not using that one account as much. However, before you call up your issuer to cancel that account, you must first consider the pros and cons. Pin ItDid you know that cancelling a credit card can badly pull down your credit score? While it might seem like a great move on your part to avoid bad debt, you can end up losing anywhere from 20-40 points from your score and working on improvement may not be that easy. Why does this happen? There are two reasons why cancelling an account affects your credit score. It’s important to understand that credit utilization makes up 30% of your total FICO score. Another significant factor in calculating credit scores is length of credit history (10%). Options To Consider Before Cancelling What is the real reason why you want to cancel a card?
Bankruptcy and Cosigners The Effects of Bankruptcy to Your Cosigner 5.00/5 (100.00%) 1 vote When filing for bankruptcy, it is important to check the rules especially if you have a co-signer. Your co-signer was the one who co-signed your debts when you applied for it. Your co-signer vouched about your credibility as a borrower, which is how you got the approval. Pin ItGenerally, a co-signer is accountable to pay in case the borrower defaults payments. If you are going to file for bankruptcy, will your co-signer still be required to pay for your debts? Chapter 7 and 13 Bankruptcy and Your Cosigner If you’re qualified to file for a Chapter 7 bankruptcy, you should know that your co-signer will not be exempted from the obligation. A co-signer is only protected from liability with a Chapter 13 bankruptcy. With the new repayment plan, the borrower’s debt will be reduced along with the interest rate. [Article: Possible Reasons Why People File for Bankruptcy] Bankruptcy and Your Attorney
applying for first credit card How to Qualify for Your Very First Credit Card Account 5.00/5 (100.00%) 1 vote Be sure to have a savings or checking account with a bank nearby. Bear in mind that having a bank account can help improve your chances of being granted an affordable line of credit. After all, it can prove that you’re serious about managing your personal finances in the best way possible. Pin ItJust remember that most banks and credit card firms today will require you to have a savings or checking accounts for at least two years. Hence, if you have just opened it then, you may have to wait for some time before filing an application with your target card issuers. Prepare a significant sum of cash, especially if you wish to take out a prepaid or a secured credit card. A gentle reminder though. Scout for online card issuers. Hence, we encourage you to go the online route to get the credit card you want. For college students out there, search for affordable student credit cards. So, what are you still waiting for?
benefits of the new credit card law The Credit CARD (Card Accountability, Responsibility and Disclosure) Act of 2009 was signed into a law on May 22. The changes made were meant to protect consumers from unreasonable terms and conditions of credit card companies. As a consumer and credit cardholder, how can you benefit from the new law? Rules on Credit Card Fees. Furthermore, credit card issuers cannot penalize a borrower for submitting late payments with other accounts. [Article: Advantages of the New Credit Card Law] Nevertheless, consumers must keep in mind that for credit cards with variable interest rates, there is no rule that imposes a cap limit on rate increases. About the Author Melanie Mathis is a credit analyst and a writer for 8 years.
Joint Account Credit Card In a joint credit card account, both people are responsible to make repayment. If you plan to open a joint account with your spouse, child or friend as a partner, consider these tips to avoid the risks and problems: Set a spending limit for both of you. It’s important that both of you understand the limit when it comes to spending. Inform your joint account partner about your spending. Although it’s not necessarily to tell your joint account partner every single item you charge to the account, it is recommended that you let the other person know if you want to use the credit card for a large purchase. Check the account before using the credit card. To make sure that you do not go over the agreed limit, be sure to check your account before using it for payment. Talk about payment responsibilities. Communication is vital to a successful joint account relationship. Be aware of the possible consequences. Indeed, having someone as a joint account partner is a serious decision.
Why You Should Take Professional Property Service zero interest credit card The Real Cost Of A Zero Interest Credit Card 5.00/5 (100.00%) 2 votes A credit card offer, which carries a zero- or low annual percentage rate (APR), is enough to capture the interest of most consumers, these days. In fact, some of them might even sign up for the credit card program, right there and then, even without taking a close look at the regular rate and the fees and charges that may apply on it. But, would this be a smart decision? Pin ItNot at all! Is a Zero-interest Credit Card For You? Generally, the zero interest rate is only applied to one particular transaction. Nevertheless, there are those who apply for a 0% balance transfer card, without actually using it for consolidating balances. How much would the regular rate be? Before submitting that online application, check out the complete terms and conditions. If you need a new card to consolidate your credit card debts, make sure that you’re getting one with a sufficient length of introductory period. Beware of the Cons!
How Many Credit Cards Should You Have A good rule of thumb, according to most certified finance experts, is to manage just one credit card, at a time. After all, such tip is proven to help reduce the risk of incurring a huge credit card debt among cardholders, these days. Still, it is worth mentioning that managing more than one line of credit, at a time, can also be beneficial. How come? To know the answer, let’s take a close look at the pros of managing at most two credit cards, as well as the tips that will help make them work to your advantage. When You Need More Than One Credit Card There is no magic number as to how many credit cards you should have. Financial cushion. Reward opportunities. GOOD READ: Choosing a Credit Card – Carefully Read the Disclosures Avoid maximizing your credit limit. How to Manage Multiple Credit Cards Effectively How can you manage multiple credit cards and keep away from bad debt? Keeping track of your payment schedules can also prove to be a challenge if you have multiple credit cards.