Financial Dictionary: Accounting, Business & International Finance
When it comes to credit card debt, 0 balance transfer deals can deliver significant savings on interest. A good credit score (690 or higher) is required to qualify for 0 balance transfer cards. The higher your FICO score, the better the deal you can expect. To save the most, apply for the card with the lowest balance transfer fee and the longest 0 percent APR your credit score will get you. Pay th…
Knowing how to improve your credit score often involves knowing how not to damage it. These common and expensive mistakes are made by irresponsible borrowers of all shapes and sizes, the kind of people who drive credit counselors insane every day. 1. Continue ignoring collection letters. 35% of credit score is based on payment history?the punctuality or tardiness of regular payments. For most peop…
Keeping an eye on your credit report is extremely important; identity theft is rampant today, and a poor credit score can cost you thousands of dollars in interest charges through the years. By monitoring your credit reports, you can take care of inaccuracies and other issues quickly so that they don?t have as much of a negative impact on your score. Many people don?t realize it, but there are thr…
All consumer credit information in US is compiled by a credit bureau, or credit reporting agency (CRA). The credit bureau acts as a clearinghouse for the accumulated information. Even though there are a number of local and regional credit bureaus throughout the nation, they are all affiliated with one of the three major credit bureaus. Equifax, Experian, and TransUnion, the ?big 3? national credit…
Credit reports are useful tools in conducting background checks, determining loan or mortgage eligibility, and calculating a consumer?s credit risk. Credit reports are made up of 3 credit scores known as FICO scores, with one score designated from each major reporting agency. Credit reporting agencies act independently of each other, though the FICO scores supplied by each may be similar. The cred…
When setting up an e-commerce site, every businessperson will eventually have one important thing to consider: how to get paid. In an electronic business, asking people to send in checks is the same as asking to fail. Accepting PayPal is an option, but doing so often puts the stamp of a tiny business onto a site, undoing all its efforts at looking like an established company. The only true solutio…
There are many credit card offers around. Some of these are for well-known cards, while others are from tiny banks hardly anyone has heard of and only look like the real thing. One way to make sure you?re getting a credit card that can be used nearly anywhere is to apply for a Visa card. Visa, while not quite truly ?everywhere you want to be,? is as ubiquitous as they get. This makes it a card man…
The most popular names in the credit card industry are MasterCard, Visa, American Express, and Discover. Of those four names, Visa has made the largest impact in the past ten years. It seems like everywhere you look, someone is always using a Visa card. Like most popular items or services, Visa is popular for a reason ? they offer a good service with rewards. If you would like to join millions of …
There are many ways to seek opportunities to apply for a credit card. However, the old-fashioned methods of applying at a bank or looking for a form to send in are inconvenient and slow. It is also unlikely that all the options will be found using such methods. If you use the internet, all of this changes. By using sites where you can apply online for credit card accounts, it is possible to see al…
Credit cards with low APR (annual percentage rate) rates are out there if you have good to excellent credit. Low APR cards are attractive to people who carry a balance from month to month. If you can pay off your balance every month, a low APR card may not be quite as desirable as one that pays rewards or other benefits because you would not be using the low APR at all. If you do not pay off your …
Just about anyone can buy a car and get financed, regardless of their credit history. Dealers can work wonders when it comes to getting people financing to purchase a new or used car. Unfortunately, those financing deals for people with bad credit carry very high interest rates that make payments higher than they need to be. Fast credit independent dealers have overpriced cars and overpriced credi…
There are loans with good low interest rates available for everyone these days. Even having bad credit is not a deterrent from obtaining refinancing or a home equity loan. In fact, getting a 2nd mortgage when you have bad credit can actually help you improve your credit score. Bad credit is a term that is given to persons who have a credit record that has a lot of adverse information on it about t…
Credit cards are essential for modern life. They are the only effective means of making purchases online and in many stores, and they allow a person to buy things all week even though they are only paid once a week, once every other week, or once a month. Unfortunately, since credit cards are inherently risky for banks, they are hesitant to just give them out to anyone. Credit cards are unsecured …
Recent economic times have lead to many individuals facing credit situations that they have never experienced before, and it is incredibly easy to suddenly be plagued with what is considered to be a poor credit rating. Unexpected expenses often arise and consumers living within a tight budget must have a way to access emergency cash or an open credit line. The good news is that is not impossible t…
Many people are under the impression that if you have bad credit, you are immediately disqualified from getting a mortgage. Though it is certainly harder to get a mortgage with bad credit, there are some bad credit mortgage companies out there that will take on the risk and help out customers. What you should know about these companies is that you are going to have to pay big for their services. S…
Bad credit mortgage rates are slightly higher than good credit rates, but it is a little hard to actually find out what they are unless you apply for the loan. This is due to a whole range of variables that are involved in determining a rate for people with less than fair credit. If you make an application, however, you open yourself up to making your credit record even worse. Lenders are reluctan…
There are credit cards that offer good deals on balance transfers, but they also offer other features that might enter into your decision on which to choose. Naturally, all of them require good or excellent credit, and all of them carry some interest rates following interest free introductory periods. Other features that may interest you include air miles, cash back and cash bonus offers, and lowe…
Cash back deals on credit cards are hard to find in 2010 because cash return percentages have been reduced. The deals offered in prior years are not available anymore, and the cards that featured them are not being renewed for current cardholders. That being said, cards that pay off in cash still offer a select market of consumers the best rewards programs available. Unlike other rewards, cash can…
With the iron grip the current economy has had on personal finances, protecting these assets has become essential. Among several cost-cutting measures worth considering is the selection of the best credit card to suit each person?s financial needs. However, faced with the wide array of cards from which to choose, this can be a daunting task. Therefore, a bit of knowledge about the benefits of one …
If you?re using your credit cards wisely, you?re probably trying to pay off your debt each month, in which case you may not be paying as much attention as you should to whether or not you have the best credit card rate on interest for your purchases. But if you?re carrying a balance, then the interest rate on your card can cause compounding payments to raise your monthly requirements. Finding the …
Whether you are looking for a business credit card or a card for personal use, it is incredibly important to get the most out of that card. In today?s credit world, plenty of options exist. Companies are pitted against one another in a high stakes contest to gain market share. This means that they?re coming out firing with great offers, including credit card rewards. Getting the best rewards credi…
Capital One Financial Corp (COF) is one of the biggest credit card providers in the U.S. They are a bank holding company that was founded in 1988 in Richmond, Virginia. They are now headquartered in McLean, Virginia. The company has total assets of $165.91 billion and posts annual revenue of around $15 billion. Capital One employs 31,800 people and besides credit cards, they issue home loans, auto…
If a person has earned good to excellent credit scores, they should be able to easily find low interest rate credit cards. Good to excellent FICO (Fair Isaac Corporation) scores range from 650 to 850 points. The average score for most people is 723. Persons who have good to excellent credit scores have demonstrated by their previous use of credit that they are good borrowers who present a low risk…
How low a credit card lowest rate goes depends partly upon an account holder?s credit score on past payments of their credit accounts. If they have been on time with all their past payments due, they should have an excellent credit record with a high credit score. On the other hand, if they have missed payments, defaulted on loans, gone bankrupt or otherwise been less prudent with their credit acc…
Handling credit card processing is something most businesses will have to consider at some point if they want to be able to do all the business they can. Even for relatively low-cost items, consumers love to be able to whip out their credit cards to pay. It?s not just a matter of affordability ? sometimes a customer simply doesn?t have the cash on them. In these cases, it?s impossible for a store …
In the past three years, the calamitous stock market falls, with the demise of huge companies left and right, have damaged the credit ratings of millions of Americans. Many who have been devastated as their credit rating zoomed down from the high 700s to the low 400s no longer care about their credit rating. This group includes mostly those who have filed bankruptcy and / or lost their homes to fo…
Each year, millions of people find themselves looking to credit card companies so they can increase their spending power. For many, applying for a credit card is a simple way to make purchases or gain access to finances in times of need. Prior to filling out the application, you need to consider your reasoning for obtaining credit and choose the appropriate credit card. One of main reasons for obt…
Due to the increasing volume of identity thefts in the world today, monitoring your credit is more important than ever. When you?re unsure of what your credit report looks like, you could be in for some unpleasant surprises the next time you try to obtain credit. If you have poor credit and would like to improve it, you?ll also need a copy of credit report to develop a game plan. If you?ve ever sh…
The convenience of digital technology just made it easier to apply for a credit card. For some consumers that might be a good thing, for others not so much. Credit card applications online take a fraction of the time to complete compared to the tedious paperwork of traditional applications. Within a matter of minutes, the application can be filled in and submitted. In a short time frame you can ch…
What Is Credit Card Debt Consolidation? To consolidate, in its most basic terms, is to combine many small things into one big thing. So in terms of consolidating credit card debt, you take out a credit card consolidation loan from a bank, financial company, credit union, or other lending institution to pay off all of your outstanding credit card debt, combining it all into one, new ?consolidated? …
Credit cards can look like the best friend and the worst enemy of a consumer. They help with cash flow and allow big purchases. Then the bill comes and the reality of fees and interest rates outweighs the convenience of purchasing on credit. A recent trend in the market combined with new laws forcing credit card companies to reveal all charges and summarize fees, has caused consumers to look for o…
There are many tools available online that can help you improve your financial future, but none quite have the same impact as a credit card interest calculator does. Credit cards are not a good source of spending cash. Of all the loans you can possibly get, the loan you have through a credit card is often subject to the highest interest rates imaginable. That means the purchases you make on credit…
A plain fact is that credit cards are useful. You need one to check into a hotel or motel; you need one to rent a car or book airline tickets. Finding that credit card with no credit check is fairly easy. Actually, there are many credit cards that you can purchase that do not require having a bank account or credit history. They are called pre-paid credit or debit cards, guaranteed cards, secured …
The advent of the Internet as a marketplace for an almost endless variety of products has opened up many options for small businesses. The only problem is that it is often difficult for them to accept money from the customers they wish to serve, since almost all online transactions are conducted using credit cards. In the early days, purchasers were required to either copy and fax their credit car…
It may not seem like credit card companies would be open to negotiation ? after all, they?re in the business of lending money in exchange for hefty interest payments ? but as greater numbers of individuals default on their credit card payments, card companies are finding more and more reasons to open their doors to negotiations when individuals request special consideration. If your credit card ba…
For those who do not have an established credit history, getting a credit card can be challenging, but it is not impossible, and it is much easier to get a credit card if you have no-credit than it is to get one if you have bad credit. Though new laws have been passed recently that are designed to help protect vulnerable consumers, such as those with no established credit history, it is still impo…
Accumulating positive credit marks can be a good thing for students, especially if they are responsible. With proper credit education, students have a chance to learn a thing or two about the financial world, while establishing themselves for the future. In order to do that, students will have to choose from among credit card student offers. The student credit card application process is relativel…
The first cash reward credit card was the Discover card which was released in 1986. Since its issuance, the market has expanded to include a vast range of cash back rewards, cards tied to airlines, cards tied to hotels, and cards which offer flexible point earning that can be exchanged for any or all of the above. There are two key rules to using a travel reward or cash reward credit card. The fir…
One of the ways that credit card companies attempt to recruit new customers is to offer the opportunity to transfer an old balance to a new card at a promotional rate. Used strategically, these offers can not only save a great deal of interest expense, but also make it easier for one to get out of debt in less time. Balance transfers are quite simple to achieve. They are typically done either duri…
Credit consolidation services offer a way out of debt for some consumers. Essentially, consolidation loans combine most or all outstanding debts into one monthly payment, providing additional convenience and, in some cases, allowing consumers to reduce their monthly expenses to a manageable level. Credit consolidation services work with consumers to determine which loans will best suit their finan…
As debt is overwhelming consumers whose personal budgets are adversely affected by the economic recession, credit debt counseling services offer a beacon of hope. These programs are oftentimes provided by nonprofit organizations (underwritten by the credit card industry) to educate the participants about the inner workings of the credit industry, how to approach debt with an eye on getting rid of …
When you owe debt that you need to deal with, there are various credit debt solutions and approaches to take. One is to pay the full amount billed, in whatever monthly amounts are demanded. Another is to pay less and hope the creditor will accept it. Still another is to contact the creditor and ask for a reduction in the interest rate, the balance or a reduction of the debt in exchange for a lump …
The home equity line of credit, frequently referred to by its initials, HELOC, is an extremely popular method of tapping into the equity in one?s home. It combines the benefits of other home equity loans, including low rates and potential tax deductibility with the flexibility of a credit card. An equity line loan is a debt instrument where one is given a pre-approved credit limit. At any point in…
Conducting your own credit history check is a wise move; even the Congress of the United States agrees! Previously, Congress passed several credit card reporting acts that offer consumers protection and one of these set forth the right to obtain a free credit report from each of the big three Credit Reporting Agencies (CRAs): Equifax, Trans Union and Experian. Allowing consumers to check credit hi…
Sometimes your credit can be a difficult thing to manage and you end up with a poor credit score and a bunch of rejections that you have to battle through. When this happens, debt consolidation poor credit repair options are out there for you to take advantage of in order to ensure that you get over this hump and begin managing your credit much better. When you decide it is time to consolidate deb…
Whenever dealing with IRS debt, help is pretty much a requirement, whether it involves legal advice or simply researching the process. IRS debt is one of the most difficult types to discharge, and it may not just disappear after filing for bankruptcy, much as many other kinds of debt will do. In all, there are five different ways to get out of IRS debt. The easiest way to take care of IRS debt i…
If you love Disney?s theme parks, characters and other products and services ? and would like to enjoy special deals, discount and other perks related to them ? then the Disney Visa card may be right for you. Like many rewards cards, the Disney Visa card allows you to earn special rewards by making purchases with it. By using it any time you?d use a credit card, you can save a considerable amount …
Your FICO score determines which credit cards are easy to get. With excellent credit (750-850), you?ll have your pick. A good credit score (620-750) means you?ll qualify for a variety of cards with reasonable terms. Fair credit (580-620) will get you cards that cost more. If you have no credit history or a score below 580, only prepaid cards, secured cards, and unsecured cards with a high price ta…
With nasty debt becoming a larger problem for many people today, family credit counseling looks like a great option to these folks. There are many advantages to using family credit counseling, as the good services can help families get back in control of their finances. With that being said, not all of the services are legitimate and not all of them have a family?s best interests at heart. This is…
It is virtually impossible to make any financial decision in the U.S. today without knowing what is on your credit report or not knowing your credit score. Any type of loan, many forms of employment, renting a home, purchasing an insurance policy, and creating a new account with any utility will all require a check of your credit score. If your score does not pass muster, then your plans could be …
Many websites are offering ?free? credit reports, but usually there is a tie-in connection to some paid service that comes with that ?free? credit report. If you have the mindset of ?I want a free copy of my credit report,? you can find it! The best place online is AnnualCreditReport.com. This is the ONLY website authorized to provide consumers in the United States a free credit report from each o…
A person?s credit history is more important today than it has ever been before. Credit reports are used for so many different purposes now it is difficult to get by without an adequate report. Employers use credit reports to screen applicants. Apartment managers use credit reports to screen potential tenants. Utility services use credit reports to determine if you need a deposit. A person needs to…
As you might have heard, all Americans are entitled to receive a free credit report each year from each of the 3 major credit bureaus: Equifax, Experian, and Transunion. You can then use these 3 free credit reports to get an accurate idea of how lenders see you. Why Get Your Annual 3 Free Credit Check Reports Your 3 free credit check reports might surprise you. For starters, there could be errors.…
Everyone is entitled to get a free credit report without a credit card. Having a credit card is not the criteria for establishment of a credit report with the three major credit reporting agencies (CRA) in the United States. The credit reporting bureaus receive information about consumers from many sources. If you have gone bankrupt, had a lien placed against you for a debt or taxes, been sued or …
Under United States law, every citizen is allowed one free credit score check per calendar year. The problem today is that if you want to check credit score free, you?ll run into a bunch of options that aren?t actually free. A few companies have taken advantage of the news of that government offer, and most people don?t even realize how to get their free score anymore. Instead, they try to get a f…
According to a recent alert issued by the Federal Trade Commission, it is easy to get a free credit score online. People must go to the authorized Website that is sponsored by the top-three credit reporting agencies to get their three free credit reports each year. The Fair Credit Reporting Act (FCRA) requires TransUnion, Equifax, and Experian to each supply one free credit report to every consume…
The legislation that allowed consumers to get free online credit reports made monitoring one?s own credit history a lot easier. Anyone can obtain a credit report online, free of charge, at the official website AnnualCreditReport.com. This website was set up by Experian, Trans Union and Equifax following the passing of laws by Congress mandating that this be made available to consumers. There are m…
When looking for a frequent flyer credit card, it pays to understand some of the options that are available right now. These airline rewards cards offer sky miles to those individuals who do a lot of shopping, and they can prove valuable for individuals who travel a lot. Choosing from among all of the different frequent flyer credit cards can be a bit of a challenge, given the crowded industry. Th…
Getting a copy or view of your credit report is easy if you have access to the Internet and a computer. Allowing consumers to see their credit reports once a year was a government mandate passed to protect consumers from identity theft. It also lets consumers know who has been requesting their credit reports. When you view your own credit report, it does not negatively affect your report at all. T…
Finding the most appropriate credit card can be a daunting task because so many factors must be considered to ensure that it is the best personal fit. A good credit card for one financial situation may not be an appropriate card for everyone. Although it may be time consuming, certain comparisons should be made between cards and their financial backing institutions before a decision is made about …
Thanks to United States Government regulations, the three major credit-reporting agencies in the country are obligated to provide consumers with yearly free credit reports upon request. This to help people spot reporting errors or even cases of identity theft. The first act to make annual credit reports available for free was the Fair Credit Reporting Act (FCRA). Later, the Fair and Accurate Credi…
Since prices tend to rise, the typical consumer must take out loans to afford many necessities. Without mortgages, few middle class families would be able to secure the hefty sums needed to purchase a new home. People rely on expensive automobiles to get to work; car loans help cash-strapped consumers deal with rising vehicle costs. However, lenders often deny loans to individuals with poor credit…
Under the Fair Credit Reporting Act (FCRA) of The Federal Trade Commission, credit reporting companies are required to provide consumers free copies of their credit report, once every twelve months. This is handled by three credit report bureaus ? EquiFax, Experian and TransUnion. You may come across reporting bureaus other than these three but the FTC recommends that you request credit reports on…
If you have no credit history or have suffered in the past from bad credit, an option for you may be secured visa cards. They are similar to regular credit cards, but it is necessary to secure a deposit before opening your account. This deposit is not a fee, and when you close your account in good standing, you will receive the deposit back in full. Most secured visa cards are reported to the cred…
Years ago, applying for credit meant sending away for applications you were interested in through the mail, waiting for them to arrive, mailing them back completed, and then waiting for several additional weeks to see if you were approved. Then the internet came along and streamlined the way we do just about everything, making online credit card approval the new standard. Credit is a highly compet…
Credit score measures how likely a borrower is to pay back money. To raise credit score, borrowers must prove that they are creditworthy. In the same way that a person is less likely to lend money to someone who never pays people back, so too do lenders use a credit score to decide what kind of deal to offer to their clients. Credit scores run from 300 to 850. Past 760, a consumer will be eligible…
Sure, you?ve seen the commercials and heard the catchy jingles of companies that tell you how to get a free credit report. But the jingles are just a lure, and sometimes you will find that your ?free? credit report isn?t actually free at all. All American consumers, however, are by law entitled to one free credit report every year from each of the three national credit reporting agencies: Experion…
At one time, being able to get a credit card application approved right away was a rarity. Now, however, there are many companies that offer it. The reason instant credit card approval is now so ubiquitous is that modern technology allows credit card issuers to immediately access the credit reports of applicants. This information is then run through the issuers? computerized decision-making system…
Current offers on credit cards, MasterCard included, change constantly. In 2010, credit card deals aren?t nearly as attractive or plentiful as they used to be. Even for those with excellent credit (750-850), lenders are cutting back on everything from cash back to sky miles. As with Visa, an impressive FICO score is the only way to access the best Master Cards. There are a few reasonably tempting …
Having merchant credit card processing services provides you with a number of advantages for your small business. Simply put, merchant credit card accounts enable you to accept a wider variety of payment forms from your customers ? including checks that have been verified before you process them as cash along with credit cards and, in some cases, branded loyalty and gift cards that you issue from …
When looking for best deal credit cards, one feature many people desire is a no fee balance transfer. With this benefit, account holders can transfer a balance due from another account or credit card over to the new credit card with no fee charged for that transaction. The main reason people want to have a no balance transfer fee credit card would be to take advantage of moving debt from a high in…
Credit card companies offer all kinds of special offers including no fee credit cards. What is the truth about no fee credit cards? Are they really cheaper than others? To find that answer, examine the small print and compare offers. At first glance, a credit card no fee offer looks like a good thing. Look closer to discover where else the credit card company is going to make money off your transa…
When you are searching online for Visa credit card offers, you want to make sure that you are looking in the right places, for the right offer for your needs. There are several different types of Visa credit card online offers that can be for good or bad credit giving you the chance to rebuild or restructure your credit, while having a great financial tool at your side. If you are looking for bad …
It is easy to a pay credit card bill online. In fact, most credit card companies now prefer that bill paying is conducted electronically, online, because it saves them money. If customers pay for credit bills online, the credit card company can save dramatically on mailing costs and printing. Paying credit cards online is very easy for consumers who have at least a little knowledge about computers…
Everyone wants the convenience of using credit cards; even those with poor credit want credit cards. Credit cards eliminate the need to carry large amounts of cash around and they are accepted just about anywhere. To obtain a credit card, the applicant must pass certain requirements that the card companies put forth when they decide to extend credit. Under most circumstances, persons with good to …
People with poor credit pay a lot more than those who have perfect credit. This fact of life is something that many of us lost sight of during the sub-prime mortgage crisis, when many unscrupulous lenders extended home loans to buyers who didn?t really qualify for them. That bubble famously burst nearly two years ago; since then, those with poor credit have been left in the lurch. If you?ve been t…
Whether you have bad credit as a result of poor use of credit in the past or you have no established credit what-so-ever, not having a good credit score can be very troublesome. Not only does the lack of a good credit score make it difficult to get a credit card, it can also make it nearly impossible to obtain a loan for a car, home, or any other purpose. Because it is difficult for those without …
Many consumers are struggling with too much unsecured debt and not enough money to meet their monthly obligations. In order to be credit card debt free, enrolling in a consolidation or debt settlement program are proven methods to alleviate bad debt, and achieve financial independence. Online lending sources are a convenient means to access current information concerning both types of eliminating …
Every so often, it might be fortuitous to refinance one of your loans. Whether talking about a home mortgage, a personal loan, or an auto loan, refinancing can help you save money and take advantage of new offers that the bank might be advertising. Most people who go through the refinancing process have sterling credit, though. For people who are doing refinancing with bad credit, some significant…
Consumers should never have to pay when they can get an absolutely free credit report three times a year or more often. Acting on behalf of credit consumers, the United States government has passed much legislation regarding credit accounts. One thing Congress demanded was for the big three credit reporting agencies (CRAs) to provide free access to reports. CRAs set up an Internet website for cons…
With all of the free credit report rhetoric utilized on websites trying to profit in some way from your naivete, it can be confusing to figure out where to turn to get a copy of your true credit report. Like in many areas of life, this conundrum is often solved with the simplest possible method?contacting the credit reporting agency itself. There are three credit reporting agencies to work with?Ex…
A line of credit is the credit provided by a bank or other financial institution to individuals, businesses or governments. There are different types of line of credits extended by financial institutions. These include demand loan, term loan, overdraft protection, etc. One purpose of taking a line of credit loan is to pay for purchasing a home. This loan is a revolving credit loan in which the bor…
To many people, credit score reports and credit report history are confusing terms. They are different from each other. It is possible to view a credit report for free at AnnualCreditReport.com. The big three credit reporting agencies put together this website after the United States Congress took some action with credit laws making it mandatory that consumers be allowed to obtain a credit report …
Many people have wondered about their credit score and what it is. They may be familiar with their credit reports that are generated by the big three credit reporting agencies. Equifax, Experian and Trans Union are official credit reporting agencies (CRAs) that keep detailed records of everyone?s credit history. Whenever a consumer uses a credit account, the credit lender sends a monthly report in…