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Credit Card Debt Consolidation – Can It Help Your Get Out Of Debt?

October 19, 2011

Credit Card Debt Consolidation – How It Can Help

If your credit card debts continue to grow and you are already very desperate to find the most effective way to deal with it, then you have to know that credit card debt consolidation can be of huge help to you. This method is most suitable for you if you have more than one credit card and the balances in each card are already extremely overwhelming. Instead of being alarmed and trying to start hiding from your creditors, you should consider getting the service of a credit card debt consolidation company. This will increase your chances of preventing the major consequences of huge credit card debts such as receiving incessant calls from your creditors and the possibility of being sued.

credit card debt consolidation

When attempting to avail of the best credit card debt consolidation service, you have to spend time checking out your financial health. This is considered to be one of the greatest factors that determine the kind of debt consolidation service that you need. Financial health can actually be defined as the future probability of getting all of your credit card bills paid. You can expect to have a good financial health if there is a great possibility that you will be earning more in the future. This is something that you need to greatly consider when trying to get the service of a credit card debt consolidation company.

Credit Card Debt Consolidatoin Benefits

Credit card debt consolidation can be expected to offer a lot of advantages including the following:

 

  • Decreased amounts of monthly payments. If you decide to get the service of a reliable credit card debt consolidation company, then expect the amount that you need to pay every month to be reduced. This is possible since this method allows you to pay off your credit card bills for a longer duration. This means that the total amount of your credit card debts will be divided based on the new payment period and this will make your monthly payments lesser.

 

  • Credit card debt consolidation can be easily managed. All it takes for you to receive the benefits of the method is to sign up an agreement with the company offering the debt consolidation service. After signing up, you can expect to obtain relief from having to read all of your credit card statements all the time. The company will consolidate all of your credit card debts and decide on your capability to pay. Based on your ability to pay, the credit card debt consolidation company will decide how much you will be paying each month and try hard to make negotiations to your creditors.

 

  • Decreased Rate of Interest. If you deal with an effective credit card debt consolidation company, then expect the rate of your interest to be reduced. The company will start to negotiate to your creditors to lower down your interest rates so you can easily pay off your remaining balances. Aside from helping you save a substantial amount of money, this is also useful in terms of easily managing your credit card debts.

 

  • An effective credit card debt consolidation service offers debt management tips. Aside from helping you deal with your current debts, you can also expect a reputable company to offer free tips that will help you easily manage your debts in the future. They will establish an effective debt management plan for free and you can use it in your future dealings with your debt.

 

Credit Help – 5 Different Methods To Use

September 23, 2011

Credit Help

If your credit is down in the dumps and you are looking for credit help to get it back up to where you want it to be, we have you covered in the department! There are various different methods that you can use to repair your credit and can be used starting today. Keep reading for the 5 different methods that you can use for credit help.

credit help

5 Credit Help Methods

  1. Keep Your Balances Under 30 Percent – Keeping your balances below the 30 percent level of what your credit line is will bring your higher credit scores and should be followed by everyone with a credit card. Did you know that 30 percent of your credit score is based off of the difference between the amount you owe on a loan as well as what you total limit is? 30 percent is a big number and you can utilize this percentage to your benefit by keeping your balance under 30 percent which is what credit bureaus love to see. If you are unable to keep it this low, then a great way to solve this problem is to ask for an increase in your line of credit.
  2. Re-Age Your Account – Re-aging your account is another excellent credit help method you can use on your pursuit for a better credit score. This is when a persons credit card company takes the account back to a time where you had less or no late fees or other fees, or in other words erases the negative aspects of your account, also called delinquencies. This is usually done by agreeing with your credit card provider that you will make a certain amount of payments on time, usually 12 in a row.
  3. Find Credit Report Errors -  NOTE: This is probably the fastest and most effective way for credit repair around. Many times bureaus make mistakes on your account and it ends up dropping your score. By seeking out and finding these errors, you can get them eliminated and your credit score will start bumping up. This is actually happening on what statistics say to be on over 70 percent of peoples accounts. Although be sure to space out your disputes.
  4. Installment Loans – Having an installment loan on your accounts is anoth method of credit help. This proves that you are responsible with a major source of credit. These can be found in the form of loans for school, cars or mortagage loans.
  5. Paying Off Credit Cards – Obviously everyone knows that paying off credit cards provide excellent credit help, but how do you do this? A great method to use to pay off credit cards is one called “snowballing”. This is when you pay minimum payments on all of your cards but the one with the lowest monthly payment, which you will pay more than the minimum. You can knock out one card at a time by using this method and soon be out of debt on all your credit cards.

For more methods on how to pay credit cards off, click this link: credit help which will show you many more methods on how to do so.

Credit Cards For Students – Providers & Overview

September 23, 2011

Credit Cards For Students

credit cards for students

Before we get into the different providers that have excellent credit cards for students, there are a few guidelines that are excellent to follow when it comes to getting the best credit card for you. Here are 4 guidelines for findind credit cards for students:

  1. Major Credit Card Brands – Getting a major credit card brand when it comes to credit cards for students is going to be your key to be able to use it anywhere. The main brands that your card should have are American Express, VISA, Master Card and Discover.
  2. Rewards System – Getting rewards can be great, but you can maximize your rewards by finding a rewards plan that caters to where you spend most of your money. For example, if you shop get one that maximizes points for department store shopping, or if you buy a lot of food, like frat guys and sports players, then go for one that grants big points for grocery purhcases.
  3. Good Reviews – On your search for credit cards for students, go for one that has good reviews. You can do a search online and check out different forums on the specific card you are searching for.
  4. Good Terms – On your search for credit cards for students, you will want to look for  cards with lower interest and no yearly fees. Many companies are out there advertising you their amazing credit cards plans, which may be true but shop around first and make sure you are getting the best before you sign on the dotted line.

Qualifying For Credit Cards For Students

You may be asking how the heck you are going to qualify being that most college students have little or no credit at all to speak of as well as most likely don’t have much income. There is a remedy to this and that is requesting a student credit card. By doing this you will be able to get a credit card, which although will have a low credit line which can increase in the future upon proof of higher income, but it will be a credit card none the less. If you are looking for a higher credit line, you will have to get a cosigner who has good credit.

2 Good Credit Cards For Students

Now that you know a little bit of information on what to look for when looking for credit cards for students, here are a few student credit card lenders that are excellent to use on your and have helped millions of students obtain a credit card.

  • Citibank Divident Platinum Select Card For College Students – Some of the benefits of this card is that you get 5 percent back for purhases in supermarkets, gas stations, convenience and drug stores as well as utility bills for the first 6 months and 1 percent after this period, 2 percent on certain restaurants, hotels and apparel stores and 1 percent on all other purchases. No annual fee and interest rates between 13.99 and 21.99 and an intro APR rate of 0 percent. (They also have another student credit card that offers Thankyou points which are offered for things like good GPA as well as purchases that can be redeemed for cash and prizes.)
  • Discover Student Card – Benefits of the credit cards for students option are 5 percent cash back on things like department stores, gas and groceries among many others, 1 percent on all other buys as well as comes with no annual fee as well as 13.99 to 21.99 percent interest.
  • Journey SM Student Rewards From Capitol One – This is another great option for credit cards for students. Some benefits that comes with their student credit cards are; no annual fee, 1 percent cash back on all purchases as well as 25 percent bonus on your cash back when you pay your bills on time.

By utilizing one of these credit cards for students, or a student credit card in general, you can both get cash back on the purchases that involve college life as well as build a good credit score by paying on time which will be fairly easy considering your payments will be pretty low.

Credit Card Consolidation Loans Can Help You Get Out Of Debt

September 23, 2011

Credit Card Conslidation Loans

Credit card consolidation loans can provide great benefit to those who are overwhelmed with their credit card debt. If you are unfamiliar with what credit card consolidation loans are, they are basically a loan that a consolidation company gives you to pay off your credit card bills, and enjoy just one monthly payment as well as what often times come with lower interest and a lower monthly payment.

credit card consolidation loans

Benefits of Credit Card Consolidation Loans

  1. Consolidation will drop the interest rate that you are paying on your credit card debt, as a loan through a credit card consolidation service is a secured loan, which always offers lower interest than that of credit card companies. The money you save in interest can be used towards paying off your bills, money you wouldn’t have had if you didn’t consolidate. Lower interest also equates of lower monthly payments, as the interest rate determines how much you pay monthly, also the repayment terms are usually extended which will drop your total monthly payment.
  2. You only have to pay one payment each month, and you no longer will get calls or call your creditors as your consolidation company does it all for you.
  3. An all an all lower debt total can come out of credit card conslidation loans as consolidation companies often times can negotiate lower payoff totals.
  4. You can also get an even lower rate by using your property as collateral, which is basically the protection for the lender who knows that in the event of default, they take the property, but with lower monthly payments, you will have enough money to pay off your debt.. Also, you don’t have to have collateral in order to consolidate.

Finding Reputable Credit Card Conslidation Loans Service

There are three things which you should check when looking for a provider for credit card consoliation loans, which one or more of them will prove that they are accredited and a reputable conslidation company.

  • They are listed in the Better Business Bureau.
  • Check if they are part of Internal Association of Professional Debt Arbitrators (IAPDB).
  • Also, are they are part of The Association of Settlement Companies.

Who Should Use Credit Card Consolidation Loans?

You want to use consolidation loans if you have few options left, which it is suggested to make a budget first and try to manage your finances, as just like with anything there are negative aspects of credit card consolidation loans. Credit card conslidation loans should be used by those who are buried in debt and their monthly payment are too much compared to what they can afford as well as those who are either behind in their payments, or have flat out stopped paying. Also, if you are having trouble tracking all of your monthly payments, credit card consolidation loans are great to manage your debt.

The Right Time For Consolidation

When it comes to the right time for people to take out credit card conslidation loans, there is a pretty basic explanation for this. You shop around for interest rates that are lower than what you are paying on your credit cards. If interest rates in consoliation companies are higher, than the act of consolidation will not benefit you. Right now, interest rates are at an all time low it is a great time to get credit card conslidation loans, but you can also find out if the time is right by keeping track of the interest rates in the consolidation market.

Finding Good Credit Card Consolidation Loans Companies

To ensure that you are doing service with a reputable provider, you can do one of three things:

  • Conslidate with your personal bank.
  • Or you can call your credit card lenders who will assist you in finding a conslidation company who provides honest service.
  • You can also seek the consultation of a lawyer or credit counseler for information on credit card consolidation loans.

Bad Credit Consolidation Loans Overview & Providers

September 23, 2011

Bad Credit Consolidation Loans

If you happen to have a bad credit score and are entrenched in debt and feel as if there is no escape, then a bad credit consolidation loan can be an excellent resource to help you out in many ways, like lower payments as well as the possibility of reducing your total loan debt. Below we will elaborate on the suject of bad credit consolidation loans like the process, benefits and how to obtain them, as well as provide you with 3 reputable companies that provide thiese bad credit consolidation loans. This way you can attain the knowledge you need on the subect as well as resource on how to get the process started if you choose to do so.

bad credit consolidation loans

Bad Credit Consolidation Loans Overview

How Does It Work?

Basically a consolidation loan is when you take out a large loan through a conslidation company and use it towards paying off all of your bills, which in turn means you only have one bill to pay on and that is the loan that the conslidation company gave you.

Benefits

To make the process of learning about bad credit consolidation loans, we have made a bullet point list of different things that a consolidation provider can do for you if you have bad credit. Also, although that we are talking about band credit conslidation loans, you can also just consolidate one loan, you can still enjoy the benefits of consolidation.

  • First off they can lower your monthly payments where you can actually afford paying off your debt without having to fork your entire paycheck over each month. This is done by stretching out the repayment period from what you were paying on as well as the bad credit consolidation loans representatives contact each one of your creditors and try to negotiate both lower debt totals as well as lower interest.
  • Also, many people with bad credit consolidation loans find that their providers actually counsel them with ways of getting back in control of their finances, managing the debt that they have as well as avoiding more debt from piling up.
  • Bad credit consolidation loans allow you to only have to pay one single monthly payment, instead of having to worry about paying multiple payments each month.
  • You can also begin to build up your credit score as you will have a more manageable monthly payment that you can pay on time.
  • They payments are usually based off a percentage of your income, so you will know that you will be able to afford it each month.
  • You don not have to have any collateral to get bad credit consolidation loans.
  • Often times, conslidators will give you a grace period of anywhere from 3 to 6 months where you do not have to pay monthly payments during that time, leaving you with a chance to build up and emergency fund.
  • Probably the best of all when it comes to bad credit consolidation loans, you conslidation company deals with your creditors at all times, which means no more harassing calls.

How To Get Bad Credit Consolidation Loans

  • If you want to see if you will qualify for bad credit consolidation loans, you can do so by going to a consolidation companies website, or in person, and you will need to fill out some general personal information, information that will introduce to them your specific situation which is checked out and evaluated by their counseling professionals. They will then review all of your information and contact you when they have tailored out a plan for your situation.

Things To Keep In Mind

  • Bad credit consolidation loans provide people with lower monthly payments, which is great, but you will now have more money each month on what you saved on the lower monthly payment. Due to this, you must save and budget this money and not spend it, so that you don’t end up in the position you were in before consolidation.

Requirement

The requirement to qualify for bad credit consolidation loans are:

  • You must be at least 18 years of age.
  • Be able to provide proof of your place of employment, as consolidation companies want to know that you have the financial resources to at least pay your monthl dues to them.
  • Proof that you are a US citizen or a citizen of whatever country your are applying for conslidation.

Bad Credit Consolidation Loans Providers

Also, before we get into bad credit consolidation loans providers, you can actually talk directly to your creditors to inquire about conslidation services to go through. This may sound weird, but creditors want to get paid off any way possible, so they know they are gauranteed to get paid if their client goes through conslidation.

As far as bad credit consolidation loans go, there are many great providers that can help you get out of a rut. Here are 3 providers who assist those who have bad credit with consolidation:

  1. LendersMark
  2. Direct Lending Solutions
  3. Choice Personal Loans
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