Credit card

Best Credit Counseling Explained

Credit Counseling Explained

Credit Counseling Explained

Generally you will find that there is more credit card debt help available than is actually needed.

Just flip through the newspaper and you would be surprised by the number of advertisements related to credit card debt help.



Every now and then, there are articles on credit card debt and credit card debt help. Television channels are full of ads related to credit card debt help.

There are websites and magazines that are dedicate to credit card debt help. You also hear about the topic of ‘credit card debt help’ being discussed in parliament.

There seem to be policies/laws being formed for credit card debt help. All kinds of suggestions seem to be floating for credit card debt help. Everyone, even some of your friends, have a piece of advice related to credit card debt help.

All banks seem to offer credit card debt help in term of various loan types (generally short term loans) at low rates.

So, credit card debt help is readily available and in fact even unwanted credit card debt help or advice will flow into your ears.

However, not every one offering credit card debt help is proficient enough to be able to provide proper credit card debt help that will suit you.

So you do need to understand some basics about credit cards and credit card debt, before you actually go looking for credit card debt help or before you start helping yourself out with your credit card debt.

So you should try and understand how the credit card suppliers bill you, how the interest is calculated on your credit card balance and how your credit card debt grows. Understanding all about APR, goes without saying.

Even if you think that you had gone through all this stuff at the time of choosing your credit card, you should revisit these concepts to make sure that you still know them.



If you decide against going for professional credit card debt help, you will need to understand these concepts in even more detail. All these concepts will become handy when you are comparing various balance transfer offers (for example).

Moreover, the knowledge of these concepts will also be helpful in making the discussions with credit counsellor more fruitful.

So credit card debt help really starts with developing a better understanding of credit cards and other concepts related to credit cards (irrespective of whether you go for external credit card debt help or not).


Should I cancel my unused credit cards?

Should I cancel my unused credit cards? This is a question many people ask themselves and searching for a right answer.



If you are one among them this comprehensive guide will help you how your unused credit cards can affect your credit scoring and some tips to be known before you cancel your unused credit cards.

Though having one or more credit cards with you is an easy way to get some money urgently, remember your unused credit card can affect your credit scoring.

Many people are not aware of this fact that their unused credit card will adversely affect their credit score. Closing your unused card will not wipe out your past credit history with the account but it will help you to reduce your open credit.

But before you cancel your unused credit cards make sure that you are going to cancel the cards which you think you don’t want anymore.

There are several peoples who used to cancel their credit cards just to increase there current credit score. But remember that doing so won’t increase your credit score.

That is it is not a good idea to cancel your unused credit cards just as a short term strategy to increase your credit rating.

Before you take a decision of whether to use your credit card or to cancel your unused credit card make a thorough study that you won’t need the credit card at a later stage in your life.

That is, make yourself clear why are trying to get rid of a credit card. The next step is to check whether there is any balance to be paid for the credit card you are about to cancel.

Don’t try to cancel your credit card while you are paying the balance. Cancel the credit card after you have completely paid the balance amounts.

Get a copy of your current credit report and make it clear if your credit card is making any problem to your credit scoring. If not, then why bothering about canceling your unused credit card.

There are also several advantages of keeping a credit card with you. That is keeping a credit card will be an added advantages when you are applying for a vehicle loan or a mortgage.

It is seen that most money lenders tend to check how much you owe compared with your maximum available credit.

So if you think that you can use your credit card in some form or other it is advisable not to cancel your available credit card.

Try to manage your credit card in a good way. After all, by canceling your available credit card you are closing your door for an available amount of credit.


What Do You Need To Know to Apply for a Credit Card?

Since finances, especially money is one of the major concerns of many people, a wide array of financial management services and financial options emerged.



One of the most visible among the unending line of financial management services there are is the credit card.

When people apply for a credit card, there is always a reason. It can be for managing their finances, needing extra money or in preparation to a big expenditure.

But, no matter what the reason is, people apply for a credit card because of the ultimate convenience it brings.

By now, you may have had your share of ‘pre-approved’ credit card offers in your virtual and physical mail. Since people are quite vulnerable when they apply for a credit card,

some credit card issuers lure these people by giving low introductory APR, no annual fee offers among numerous perks.

The tendency of this so many alternatives and “value” deals is to sway the person who wants to apply for a credit card.

There are undeniably endless lists of pros and cons when you apply for a credit card, but if you really have decided to apply for a credit card, these are some of the helpful tips that can guide you on your credit card shopping journey.

Actually, there are three easy steps you should follow if you have decided to apply for a credit card. First, surf the net and do some research on credit cards.

By doing this, you can familiarize yourself with different credit card terms and types. Second, you can compare numerous credit cards that would best serve your needs and lastly,

you may now apply for the credit card of your choice by filling out a credit card application by visiting a bank representative or through online.

In order to find the right credit card fast and easy, first, before you apply for a credit card, make sure you mastered the credit card terms.

When you apply for a credit card you must know what a “credit card” really is. Being a form of borrowing that involves charges, credit cards usually have underlying credit terms and conditions affect your overall cost.

So, it’s best to compare terms and fees before you apply for a credit card and agree to open an account. Some of the important terms to be understood well include the annual percentage rate or the APR.

When you apply for a credit card, you must know how the APR affects your credit account. Being a measure of the cost of credit expressed as a yearly rate,



the APR should be disclosed before you apply for a credit card so that you would not be obligated on the account and on your account statements later on.

Aside from APR, the periodic rate must be disclosed to the card holder before they completely apply for a credit card so they would have an idea of their outstanding balance and finance charge for each billing period.

Other important terms to know before you apply for a credit card are free period or “grace period,” annual fees, transaction fees and other charges,

other costs and feature, and balance computation method for the finance charge like average daily balance, adjusted balance, previous balance, and two-cycle balances.

If you’re not that type of person who is patient enough to research on all these terms, make sure that before you apply for a credit card,

the issuer will give an explanation how the balance is computed and it must appear on your monthly billing statements.


Things To Remember When You Apply For A Credit Card

When you are ready to apply for a credit card, there are a few things you want to take into consideration before making that final choice on which card to put into action in your life.



After a bit of reading and reviewing the offers and your credit needs, your credit rating, you are then going to know if you are really ready to apply for a credit card for you to use.

One thing to think about is how your credit report is. If you are one of the many that may not have the greatest credit, you are going to see that it may be a little difficult to acquire a credit card.

If that is the case, you may need to try one of the credit card companies that will help people out that have bad or slow credit.

The only thing with the credit cards for people that have slow or bad credit you are going to see that you will end up paying a higher interest rate.

The credit card companies that will offer a credit card with a low interest rate are going to be for the people that have good or excellent credit.

You may see that these credit cards are harder to acquire because of the sticker guidelines that the credit card companies have set.

As you are looking at all, the credit card offers you will see that there are so many different companies for all different kinds of credit and situations for people looking for a credit card.

Another thing to think of is if you can really afford a credit card. Many people apply and receive a credit card that they are not able to really afford.

That is one reason why more and more people end up in credit card debt over their head.

In addition, there are some that figure that they are going to get a credit card for a vacation or for the use of buying the items that are needed for the home.

The only problem is that they end up charging more than what they are able to pay for at the end of the month.

Once you are ready to apply for a credit card you are going to want to check out all the different card companies that are out there.

That is because there is going to be a credit card that is perfect for you to apply at. You are not going to want to fall in the trap that some

of the credit card companies will have out there because you may soon find that you really do not qualify for the credit card that is offering you a great rate and a irresistible introduction period.

You are going to want to make sure that you take your time and check out all the different credit card offers that you are going to see when you are looking to apply for a credit card.

Than you know that you are going to get the right credit card for the credit rating and situation that you are in so you are not applying for credit cards that you are not going to be accepted for.


5 Tips On Wising Up To Fraudulent Credit Card Offers

If it’s your first time to apply for a credit card, be careful with accepting any unsolicited offer that comes your way.



If you don’t take care, you just might find yourself a victim of credit card fraud.

5 Tips on Wising Up to Fraudulent Credit Card Offers

Tip #1 Apply Directly to the Credit Card Issuer.
You might find yourself encountering an offer that says you’ll have an easier time applying and getting approved for a credit card through their help.

Unless they work directly for the credit card issuer, no middleman representative or company can change your credit card application’s fate if it’s truly not meant to pass.

The only thing that can improve your chances of getting approved is by improving your credit score and nothing else!

Tip #2 Bad Credit Matters…Negatively.
If someone tells you that he can get you a credit card that’s not only unsecured but with low interest rates as well, you’re getting your leg pulled by a con artist.

Bad credit always matters, and they matter negatively. Credit card issuers never ignore the fact that you have bad credit no matter who you are.

If you have bad credit but you want to have a credit card, your best bet is getting a secured one or one that’s specifically designed for people with bad credit.

Tip #3 There is No Up Front Fee to Pay.
And if there is, it should be minimal because there’s really nothing you should pay for.

Up front fees are rarely required by any major credit card issuer so being asked to do so in the first place should make warning bells ring in your head.

Secondly, if they refer to the up front fee as your “annual fee”, it should appear on your first credit card statement and paid together with your initial credit card charge.

Tip #4 Know What their Gold, Platinum, and Silver Status Really Means.
Other people will try to deceive you with tempting gold, platinum, and silver credit card offers. But before you take the bait – take the time to ask what exactly those offers entail.

In most cases, a gold credit card means having an elite status because you’ve got an incredible credit card limit, competitive interest rates, and amazing rewards to look forward to.



Is that the kind of gold credit card they’re talking about? Or could it be just a gold colored card with the usual privileges? Or worse, could it only be used to purchase items from their very own product catalogue?

If you really want a gold, platinum, or silver credit card – ask yourself if you can truly afford it first.

Tip #5 If You Want to Have Credit Card Protection You Can Do the Protecting Yourself.
A different but related credit card offer that you could also encounter is one providing you with credit card protection and insurance.

The person making the offer might also weave terrifying tales of what could happen to you if you don’t get your credit card insured.

But the Federal Trade Commission (FTC) cautions consumers from availing of this offer because it usually proves useless in the end.

If you want to protect yourself from credit card troubles, you can do so by using your card responsibly and wisely.

There are sure to be other types of fraudulent credit card offers you could encounter, but just remember the golden rule for credit cards: if an offer seems too good to be true, it usually is!


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