Archive for » July, 2009 «

24
Jul
What to consider when applying a credit card ?
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I received an invitation letter from a local bank offering me a “FREE” credit card. The credit card offer me interest free period up to 45 days, which is about 20 days more than a current credit card. Best of all, it is free, no annual charges at all.

It looks tempting to me as my current credit card charge me annual fees, even though I do not need to pay for it as my annual usage allowed me to waive the annual fees automatically.

Beside considering the free annual charges and longer interest free period, which does not sound attractive to me as both does not benefiting me, I am looking for more before I take up the offer.

I look through the offer letter and I notice that it did not mention about the amount that I need to responsible should I lost my card and report it within 24 hours. This is a grey area as credit card fraud case has been increasing daily as I do not wants to be a victim with tons of charges which I do not purchase anything at all.

I am very careful about using my credit card online, what I did was I had a credit card with maximum credit limit of $1000 specifically for Internet purchase. The is to assure that if there is any Internet credit card fraud happened case to me, my maximum lost is limit to $1000 only.

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Category: Credit Card, Uncategorized  Tags:  Leave a Comment
23
Jul
Debt Negotiation A Useful Technique To Get Rid Of Debts
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Debt negotiation is one of the most useful and cost-efficient methods to eliminate debt. Certainly, this is a debt solution that has garnered considerable popularity over the past few years. Debt negotiation is also known as debt settlement and it assures you that you can make a reduced payment than what you are actually obliged to repay.

How Does Professional Debt Negotiation Work?

When you communicate with a debt negotiation professional to assist you with debt settlement, it functions in an identical manner as debt consolidation. You no more make any payments to your creditors and the company you have employed is expected to do it on your behalf. You need to send money to this debt negotiation company. Under debt negotiation or debt settlement, your money is transferred to a specific account. You just need to make a single monthly payment.

However, your creditors are not paid by you directly. You cease making payments to your creditors and inform them that you are passing on the payments to the debt negotiation company. The debt settlement company tries to convince the creditor to settle on a particular amount for closing the account and name it “even”. This signifies that throughout the entire procedure, no payment is made to the creditor. You should remember that your credit would be damaged. When you have numerous creditors, it would be spoiled over and over again. Debt negotiation would spoil your credit in such a manner that it can require six to twelve months to mend your credit.

When a debt negotiation is contracted, the money from your account into which you have been depositing every month is utilized to repay your creditors one by one.

Why Does Debt Negotiation Succeed?

Creditors (particularly credit card companies) would agree to debt negotiation since they already have typically gained a profit from you. If your card balances are high and you have just been making the minimum payments for a number of years or simply somewhat more, there is a high probability that the credit card provider has got back the amount borrowed along with the interest. This indicates that the company is not essentially at a loss when it negotiates with you. It might not be a big amount. However, debt negotiation enables the company to receive something that they might not even receive if you file for bankruptcy.

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Category: Debts Consolidation  Tags:  Leave a Comment
21
Jul
Shopping for Auto Insurance
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My neighbour John’s son just graduate from high school and he can’t wait to get on his own wheel. I told John, that is the start of a nightmare, his son Jack don’t even know how to make money now but begging his father to get him a car, he don’t mind even a small little old junk, as long as it can move. I hope he is not infected by the transformer movie where the ugly old junk can become Bumblebee one day.

Let’s get back to the topic, buying a car is not expensive but maintaining it could cost you thousand of dollar in insurance alone each year.  Being a smart consumer, I told John to look for a car insurance comparison chart online so that he can get the best deal.

Auto insurance company usually offer 2 types of auto insurance, a minimum of 3rd party coverage or the comprehensive coverage.  The first type covers only the 3rd party should anything happened in an accident, that means you have to bear your own repair cost for your car. The 2nd type is comprehensive coverage where it covers everything related to the accidents.

After deciding which type of insurance you are going to purchase, you have to look at a few items that possibly reduce your car insurance rate.   The first company you should check is your existing insurance company, they usually offer discount for their existing customer, be it life insurance or household insurance.  Secondly, please look at other optional items such as wind shield coverage, natural disaster coverage etc, reducing those option coverage will significantly reduce your car insurance rate.

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18
Jul
Get your Free Credit Report
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Have you ever wonder what is your credit health ?

Have you ever wonder getting a free annual credit report so that you understand your financial health status ?

It is very important to understand your credit rating as it is one of the most important factor deciding if you can get a loan from a finance institution.

If you have a good credit rating, then you will not having any problem getting a loan from a bank. Not only that, you will also able to enjoy much lower interest rate.

Likewise, if your credit rating is bad, you will be penalised by paying high interest rate, higher instalment and your loan amount will be lower compare to those who hold better rating.

Before you approach a bank for a loan, it is always better to get a credit report about your financial health.  Some times you may overlook some of the credit card payment and that indirectly affect your credit rating.

A credit report contains confidential information such as your personal information like employment history, assets and property, social security number, your payment history of all your credit card, debts, loan or mortgage.

The most important detail to look into the credit report is the debts that you have such as house mortgage, car loan, personal loan and credit card.  Please confirm you are the rightfully owner of the account, if there is a dispute, please report to the authority immediately as someone else could have been using your identity without your knowledge.

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16
Jul
Credit Card Merchant Account for Online Business
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Remember I told you about running a small business might bring you a good fortune in the future.  Yes, please pay more attention in developing a small part time business rather than part time job.

When you start a business, you have to deal with customer payment.  Credit card payment is very popular now and almost every shop on line or off line accepts credit card payment.

In order to accept your customer payment via credit card, you need to have a credit card merchant account.  Please take note that there are different types of credit card in the market, you need to have at least a Visa Merchant Account and Master Merchant Account.

Once you have the merchant account, you will be able to accept credit payment from your customer. If you are new, here is the scenario, you have a website selling goods or services, when the customer purchase the items and check out, the customer will be directed to a secure page where they will key in the credit card information. Once they submit the credit card information, your merchant account provider will verify the credit card and charge the customer accordingly.

All the above setup perfectly integrated to your website as one. It looks professional and it provides a very good shopping experience for the customer.

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