I am about $500 in credit card debt and with my current job I am unable to pay my credit card off before I leave for boot camp. Will the Navy help me with this debt? Will I be able to make my monthly payment in boot camp?|||One of the things you will do in boot camp is to visit the bank each pay day. You will also have a little time in the evenings each day for writing home, paying bills, and polishing your dockers. I suggest you pay off the credit card with in your first six weeks of boot camp, so that when you get out, you have no balance. While in boot camp, you will have almost everything you need to survive. So that is why it is a good time to pay that bill off quickly. Later in boot camp, you will get limited privileges to by soda or ice cream, but at first, no.
By the way, very quickly in boot camp you will be given and address (F.P.O.), and you give this to your family, friends, and credit card company. You will be able to get mail call every day that mail comes in.|||I don't know if you will have the opportunity to make the payments from boot camp. If you have the money to make the minimum payments for the time you will be in boot camp, you can have someone you trust make the payments for you. The credit card company really doesn't CARE who sends them the payment. They only care that it shows up on time.|||No the Navy will not help you with that debt.....it is YOUR debt, not the Navy's and NOT the taxpayers. You will need to take up that second question with your recruiter.|||No, the Navy will not help with your debt other than by paying you your military salary.
Saturday, December 17, 2011
Do we need credit card merchant account if we sell using Paypal?
Our company is planning to open an online store and accept online payments using Paypal (which we know can be used for credit card payments).
We are already an accredited credit card merchant, so do we need to get another MERCHANT ACCOUNT in order to accept credit card payments ONLINE?
Also, will ONLINE INVOICES created in Paypal be enough for BIR/government audit?|||Paypal will be your merchant account, so you don't need another one. In the US, Paypal's online statements are fine for tax auditing, but it'll be easier if you maintain your own books also.|||The best solution depends on your specific needs. the following website should help you figure out if you would better go for a regular merchant account versus a PayPal account.
http://www.webtys.com/small_business/article_paypal_vs_merchantaccount.php3|||No, but you might want to read some of the horror stories about businesses that have used Paypal as their merchant account. Just because Paypal gets paid doesn't always mean you will get your money promptly or at all..|||Paypal is terrible for merchant accounts, they hold your money for days and their rates are very high. Email me at teppo007@yahoo.com|||No
We are already an accredited credit card merchant, so do we need to get another MERCHANT ACCOUNT in order to accept credit card payments ONLINE?
Also, will ONLINE INVOICES created in Paypal be enough for BIR/government audit?|||Paypal will be your merchant account, so you don't need another one. In the US, Paypal's online statements are fine for tax auditing, but it'll be easier if you maintain your own books also.|||The best solution depends on your specific needs. the following website should help you figure out if you would better go for a regular merchant account versus a PayPal account.
http://www.webtys.com/small_business/article_paypal_vs_merchantaccount.php3|||No, but you might want to read some of the horror stories about businesses that have used Paypal as their merchant account. Just because Paypal gets paid doesn't always mean you will get your money promptly or at all..|||Paypal is terrible for merchant accounts, they hold your money for days and their rates are very high. Email me at teppo007@yahoo.com|||No
Do Credit Card Companies legally have the right to keep my personal information?
I recently paid off ALL of my CREDIT CARD DEBT. Was over $40k just a few years ago. . . So I called to cancel my credit cards and close my accounts. I also asked them to remove my name from their databases. They said they have to keep my personal info for tax purposes? I want my name out of their SERVERS! Help!|||Unfortunately, that won't happen. Banking rules and the Patriot Act require keeping that information for at least 10 years.|||I think they have the write to keep your information. Since you had a credit card with them then they can keep your info but not hand it out. Also if its for tax purposes they have to keep your info for that reason and then i assume they will delete it after they do their taxes|||Beat them up.|||Sorry, it does not work that way. Businesses don't delete their customer information the moment the customer stops dealing with them.|||The information will legally remain in their data base and in the data bases of the credit reporting agencies for at least 7 years.|||yes they have right to it. is for security issues stolen credit card and other stuff.|||If you tell the companies to keep you info confidential, they will.|||Sure. After all, you gave it to them
What are the best mobile electronic payment credit card pay options?
I have started a business selling accessories and I would like to have the option to accept credit cards. I have heard about Intuit and Square but I hear their are other options as well. What is the best company to go with to accept card card payments and why?|||Square Up.|||I don't know them, but also compare them to PayPal which is well known and takes most major credit cards.
You don't have to sell on Ebay to work with PayPal.|||i think paypal is a good way
You don't have to sell on Ebay to work with PayPal.|||i think paypal is a good way
Can anyone recommend a good credit card for someone with not so good credit?
As the result of some bad financial decisions and a divorce, my credit rating has gone down. I am trying to build it back up and wondered if someone could recommend a credit card I could get that would allow me to re-build my credit. I want a low set limit and as good of an interest rate as possible. Please help.|||Why do you want a low interest rate?
By carrying balances on credit cards and not paying in full you are only ruining your credit.
Why, oh why, don't people know this?
There is only one way to get top 800+ scores.
Use your card for things you need, and pay in full the day the bill comes in the mail.
Any other way can destroy your credit and your life.
This way you never pay a penny interest either.
If you have trouble getting a card, go to the bank and ask them for a secured card.
This card turns into a credit card in 6 months.
Use it unwisely - not paying in full - and it can take 2 years.
Stop fouling up your future - and learn how to use credit correctly.
Paying interst only harms you - pay in full - get top scores and top jobs - since employers check.
/|||You need to know your credit score and you have to pay for this (it's not free). Then, compare yourself to other people who recently got approved for credit cards. You can find this at www.financeglobe.com.
Your options are limited since you have bad credit. It looks like your best bet is to apply in this order:
1) High (%26gt;700) -- Citi Platinum, Chase Freedom, Capital One Rewards
2) Medium (600-700) -- Capital One Standard Platinum
3) Poor (%26lt;600) -- First Premier Gold, Orchard Bank Secured
I'm pretty sure that you're already in the poor category. In that case, try to get the Orchard Bank secured card. You need to put up a deposit between $250-$2000 and then that becomes your credit line. It's really good because it appears that someone is extending you a high credit limit, and you can upgrade to the better HSBC cards.
Avoid the First Premier Gold. I know you'll be approved for the unsecured card, but you'll pay like $300 in fees/yr for a $300 credit line. Sounds ridiculous, doesn't it? But to be fair, they help people build up their credit again.|||No such thing as a good credit card.
All credit cards will get you into debt.
Credit cards, like the fico score was designed to do nothing but get and keep you in debt.
The algorithm used to determine you credit score is all about how you interact with debt.
It's an I Love Debt score.
If you are responsible with your money and live on less than you make. If you pay as you go and save up an emergency fund. You will not have any payments. You will have money and you will not have to worship the great fico.
Messing with credit will ruin your life.
Debt free is the way to be!|||I recommend reading the following articles, the first is on rebuidling credit after a divorce:
http://www.creditinfocenter.com/divorce/鈥?/a>
And here is an index of other appropriate articles all about rebuilding credit:
http://www.creditinfocenter.com/rebuild/
Best of luck to you!|||Try to consult this with a debt consolidation company. They are able to help you to make the right decision.
Try this website:
http://www.1st-debt.com/|||If you don't a good credit it would be difficult to get any good credit card.
You can try any store charge card or GAS credit card as those are relatively easy to get an helps in building your score.|||Print out Judy's answer, put it in a nice frame, and hang it on your wall.
She is 100% correct.
By carrying balances on credit cards and not paying in full you are only ruining your credit.
Why, oh why, don't people know this?
There is only one way to get top 800+ scores.
Use your card for things you need, and pay in full the day the bill comes in the mail.
Any other way can destroy your credit and your life.
This way you never pay a penny interest either.
If you have trouble getting a card, go to the bank and ask them for a secured card.
This card turns into a credit card in 6 months.
Use it unwisely - not paying in full - and it can take 2 years.
Stop fouling up your future - and learn how to use credit correctly.
Paying interst only harms you - pay in full - get top scores and top jobs - since employers check.
/|||You need to know your credit score and you have to pay for this (it's not free). Then, compare yourself to other people who recently got approved for credit cards. You can find this at www.financeglobe.com.
Your options are limited since you have bad credit. It looks like your best bet is to apply in this order:
1) High (%26gt;700) -- Citi Platinum, Chase Freedom, Capital One Rewards
2) Medium (600-700) -- Capital One Standard Platinum
3) Poor (%26lt;600) -- First Premier Gold, Orchard Bank Secured
I'm pretty sure that you're already in the poor category. In that case, try to get the Orchard Bank secured card. You need to put up a deposit between $250-$2000 and then that becomes your credit line. It's really good because it appears that someone is extending you a high credit limit, and you can upgrade to the better HSBC cards.
Avoid the First Premier Gold. I know you'll be approved for the unsecured card, but you'll pay like $300 in fees/yr for a $300 credit line. Sounds ridiculous, doesn't it? But to be fair, they help people build up their credit again.|||No such thing as a good credit card.
All credit cards will get you into debt.
Credit cards, like the fico score was designed to do nothing but get and keep you in debt.
The algorithm used to determine you credit score is all about how you interact with debt.
It's an I Love Debt score.
If you are responsible with your money and live on less than you make. If you pay as you go and save up an emergency fund. You will not have any payments. You will have money and you will not have to worship the great fico.
Messing with credit will ruin your life.
Debt free is the way to be!|||I recommend reading the following articles, the first is on rebuidling credit after a divorce:
http://www.creditinfocenter.com/divorce/鈥?/a>
And here is an index of other appropriate articles all about rebuilding credit:
http://www.creditinfocenter.com/rebuild/
Best of luck to you!|||Try to consult this with a debt consolidation company. They are able to help you to make the right decision.
Try this website:
http://www.1st-debt.com/|||If you don't a good credit it would be difficult to get any good credit card.
You can try any store charge card or GAS credit card as those are relatively easy to get an helps in building your score.|||Print out Judy's answer, put it in a nice frame, and hang it on your wall.
She is 100% correct.
What is the best brand of credit card to get for an 18year old?
I want to start building my credit and I think getting a credit card is the best option. I want my maximum to be as low as possible so I don't go overboard on spending. What brand would be the best?|||As of February 2010, you have to be 21 unless you have a good job for at least 12 /18 months or you'll need a co-signer|||Sears, Macy's, any major department store card. Not too hard to get, posts to creditors 2-3 times a month, If it's solely to build creit, these type of cards report to the credit bureaus faster and affects your credit faster.
OOrrr...
It's basically a matter of preference Visa, Mastercard, Discover, Anerican Express, all are big names. Discover has the gimmick of 1% back on all purchases. You want to thoroughly research whichever card you decide to go with as far as, is there a yearly charge? How much is it? What's my interest rate going to be? Your best bet is to compare companies with the pros and cons and go with whichever one stands out, truth is, most cc comapnies are alot alike, its the fine print that gets ya. Which ever way you decide to go, when building credit, get a low line of credit, 500.00 or less, make small purchases, and pay the balance in a month or 2 to avoid the high interest rates. Whatever you do, do not max out your card and pay the minimum due every month, or you will pay an astronomical amount in interest and fees for your card. So the answr? There is no "right" card, just do the research, compare, and go with the best deal, lowest interest yearly fees etc.
best of luck!|||no credit card is the best credit card.... It keeps you out of debt...
But to answer your question. It might be better to apply for a credit card at a place you shop at most. Target, Wal-mart Sears, etc. Do a lot of card shopping first and pick one with a low APR. Make sure that NONE of your payments are late or the rate will go up fast. Make sure you pay the entire balance due every month and not just the minimum payment. If you only pay the minimum balance due, then you will spend way too much money on interest in the long run. And companies like it when you pay in full and they may report positive feedback to the credit bureau's faster. Good Luck and play is smart!|||Any major card is OK. They are not going to give you much credit anyway...
Or they might. They are alwasy looking for indentured workers...
OOrrr...
It's basically a matter of preference Visa, Mastercard, Discover, Anerican Express, all are big names. Discover has the gimmick of 1% back on all purchases. You want to thoroughly research whichever card you decide to go with as far as, is there a yearly charge? How much is it? What's my interest rate going to be? Your best bet is to compare companies with the pros and cons and go with whichever one stands out, truth is, most cc comapnies are alot alike, its the fine print that gets ya. Which ever way you decide to go, when building credit, get a low line of credit, 500.00 or less, make small purchases, and pay the balance in a month or 2 to avoid the high interest rates. Whatever you do, do not max out your card and pay the minimum due every month, or you will pay an astronomical amount in interest and fees for your card. So the answr? There is no "right" card, just do the research, compare, and go with the best deal, lowest interest yearly fees etc.
best of luck!|||no credit card is the best credit card.... It keeps you out of debt...
But to answer your question. It might be better to apply for a credit card at a place you shop at most. Target, Wal-mart Sears, etc. Do a lot of card shopping first and pick one with a low APR. Make sure that NONE of your payments are late or the rate will go up fast. Make sure you pay the entire balance due every month and not just the minimum payment. If you only pay the minimum balance due, then you will spend way too much money on interest in the long run. And companies like it when you pay in full and they may report positive feedback to the credit bureau's faster. Good Luck and play is smart!|||Any major card is OK. They are not going to give you much credit anyway...
Or they might. They are alwasy looking for indentured workers...
Why do people complain about credit card companies?
I worked at Chase for about two months, and learned a lot while I was there that I didn't know before, so I can understand that some of it is just that people don't know how credit cards work. But why won't they listen when we try to explain it? Like the finance charges being done a month behind, for example, means that if you pay off your credit card in 10 days rather than 30, you get charged 10 days of finance charges. Other credit cards charge you the same month, and you get charged 30 days worth, regardless of when you pay it off. So w/ chase you save 20 days worth of finance charges. Plus, if you avoid finance charges by paying in full each month, you're considered non-profitable. That means no fees will be waived unless there was an error caused by the company. (non-reciept of your statement is NOT company's fault, besides, there are at least three other ways to pay your credit card bill besides snail mail).
Why is it people don't want to understand this?|||Simple... if they understand, it means taking personal responsibility. It's easier to blame the bank for their paying extra fees. It can never be their fault.
Truly sad.. isn't it? Your job is to not get personally involved with people like this. They'll drive you crazy.|||"If only the human race would accept responsibility for itself. There's a reason I have such a grim view of people."
I agree with this statement whole-heartedly.
Why is it people don't want to understand this?|||Simple... if they understand, it means taking personal responsibility. It's easier to blame the bank for their paying extra fees. It can never be their fault.
Truly sad.. isn't it? Your job is to not get personally involved with people like this. They'll drive you crazy.|||"If only the human race would accept responsibility for itself. There's a reason I have such a grim view of people."
I agree with this statement whole-heartedly.
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When you use a debit card as a credit card, does it help build your credit when you pay?
Also, do you have to pay right away or can you postpone paying for what you bought like a regular credit card. Does the money get taken off your account automatically like a debit card or do you okay it first. I have a Mastercard debit card and I need to build my credit, but I don't know how using it like a credit card works.|||If you are choosing the credit option rather than debit when making a purchase, then you are using credit and it will improve your score. I would use an independent card (rather than the debit card) for true credit purchases though.
There is one company in particular (I don't use names when making recommendations), whose customer service far exceeds that of the other companies with regard to credit purchases. Do some research and get one from them.|||Not one bit.
What you have is a debit card that can be "ran" as a credit or debit.
It all comes out of your checking account the same.\
If you get a credit card, and you postopone "pay only the minimum" you run a risk of seriously ruining your credit.
Remember that employers check, so do landlords and car insurance companies.
Don't foul up your life with a credit card.
If you charge something, pay it in full when the bill comes in the mail|||You do not build credit with a debit card because you are not using another person's money to pay for things and you pay them back. A debit card does what it says, it debits your bank account. (usually in 24 hrs) of purchase. So, you can only spend what you have in the bank account. That is your money, not Visa or Mastercard's or any other company. Thus you will not get credit built up. Most companies use there logos on debit cards for people that don't have credit cards so that people may shop online with money from their account, book hotel rooms and flights etc.
There is one company in particular (I don't use names when making recommendations), whose customer service far exceeds that of the other companies with regard to credit purchases. Do some research and get one from them.|||Not one bit.
What you have is a debit card that can be "ran" as a credit or debit.
It all comes out of your checking account the same.\
If you get a credit card, and you postopone "pay only the minimum" you run a risk of seriously ruining your credit.
Remember that employers check, so do landlords and car insurance companies.
Don't foul up your life with a credit card.
If you charge something, pay it in full when the bill comes in the mail|||You do not build credit with a debit card because you are not using another person's money to pay for things and you pay them back. A debit card does what it says, it debits your bank account. (usually in 24 hrs) of purchase. So, you can only spend what you have in the bank account. That is your money, not Visa or Mastercard's or any other company. Thus you will not get credit built up. Most companies use there logos on debit cards for people that don't have credit cards so that people may shop online with money from their account, book hotel rooms and flights etc.
One has a credit card with an excellent credit score of 865. What are the extreme benefits?
With a credit card score of 865, what kinds of excellent benefits will there be? I am just curious. I know an average score would be in upper 600's.|||With a credit score in the 800's, you can get approved for almost any credit card you choose. Take a look here for some of the best deals for people with EXCELLENT credit:
http://www.asapcreditcard.com/good-credi鈥?/a>
Hope this helps. GOOD LUCK!|||We have high credit scores. When we went to apply for a mortgage we got a good rate and didn't need to submit any paperwork. No proof of income or anything. It was a breeze. I was shocked.|||You earned good credit..dont blow it..|||the benifits? you can get into extreme debt very easily.|||I thought the highest score was 850. You can get some low rates with a score in the 800s.|||lower car insurance?|||Pretty much it all comes down to the APR and when you submit an application. someone with that kind of score 850 being the highest, you can get very low interest rates, higher credit line, and instant approval for any kind of loan. Some places will even have cash back benefits for being so responsible.
http://www.asapcreditcard.com/good-credi鈥?/a>
Hope this helps. GOOD LUCK!|||We have high credit scores. When we went to apply for a mortgage we got a good rate and didn't need to submit any paperwork. No proof of income or anything. It was a breeze. I was shocked.|||You earned good credit..dont blow it..|||the benifits? you can get into extreme debt very easily.|||I thought the highest score was 850. You can get some low rates with a score in the 800s.|||lower car insurance?|||Pretty much it all comes down to the APR and when you submit an application. someone with that kind of score 850 being the highest, you can get very low interest rates, higher credit line, and instant approval for any kind of loan. Some places will even have cash back benefits for being so responsible.
What is a good credit card/company for daily shopping that will earn my skymiles?
what is a good credit card or bank that offers credit cards that i can use for daily expenses and will earn me skymiles for different airlines like continental, united, jet blue, delta etc?|||Hi,
I have the Starwood Hotels Amex which I love. I can pay many bills with it and I get Hotel points that can be swapped by air miles 1:1 ratio with different airlines
Starwood Amex
http://www.cardoffers.com/introCreditCar鈥?/a>
User Reviews
http://www.cardoffers.com/introComments/鈥?/a>
Many Airline cards
http://www.cardoffers.com/introCreditCar鈥?/a>
and their user reviews
http://www.cardoffers.com/introComments/鈥?/a>
I personally love to read a lot of user reviews before making any purchase or financial commitment
I have the Starwood Hotels Amex which I love. I can pay many bills with it and I get Hotel points that can be swapped by air miles 1:1 ratio with different airlines
Starwood Amex
http://www.cardoffers.com/introCreditCar鈥?/a>
User Reviews
http://www.cardoffers.com/introComments/鈥?/a>
Many Airline cards
http://www.cardoffers.com/introCreditCar鈥?/a>
and their user reviews
http://www.cardoffers.com/introComments/鈥?/a>
I personally love to read a lot of user reviews before making any purchase or financial commitment
What are some practical ways to get a credit score without getting a credit card?
I have no credit at all because I don't make large purchases, and I don't use credit cards. What are some good ways to get a credit score without getting a credit card? I have a checking account will that help in any way?|||Unfortunately, these previous two answers are inaccurate - as is VERY common with consumers today. We just aren't told accuracies because few people truly KNOW them because we aren't taught. I have 20 years experience in credit and finance and now head a consumer awareness program for consumers in and the following is FACT:
1) You do NOT need credit cards to establish and create credit scores but read on
2) You DO need MINIMUM 3 accounts to get a credit score
3) You do NOT need to be in 'debt' to get a credit score
ALL of these are 'myths' we must dispel. Here is what you NEED to do, whether you like it or not - and please realize I am NOT a fan of the conspiracy of credit - but we need to deal with it.
Quickest, easiest and cheapest way:
1) 1 account - go to your bank where you have your account, have them do a 'secured' loan against some of your balance. Let's say $1000 loan. they will take $1000 of your balance and put it into a different account or 'freeze' that amount in your account. You then make the monthly payments to pay the loan off - do NOT pay it off earlier than 1 year. Since you are establishing credit - you want to start establishing decent LENGTH of credit accounts.
2) Then research the National Banks that have 'Secured Credit Cards' and obtain one. ONLY use TRULY secured credit cards which work identically to the secured loan with your bank that we discussed here. DO NOT use ANY OTHER TYPE OF CARD OFFER YOU SEE. They Scams meant to get consumers who don't want to part with any of their money and deposit with a bank and are RIDDLED with hidden fees and WILL RUIN your credit before you EVER get it built. BTW, you technically CAN use the $1000 dollars from your bank loan to deposit for the secured credit card - I don't recommend it but you can.
3) Then do the same thing again for ANOTHER Secured Credit Card just as in step 2 - don't worry if the credit limits are $500 or $1000 based on your deposit, these work just fine - BUT don't get cards with only $250 limits - one if you HAVE to, but not both.
4) You MUST USE YOUR CARDS to be certain they report to the bureaus. BUT DON'T PAY INTEREST on them, this is not necessary. Just pay off the balance AS SOON AS THE BILL comes in. If you don't LIKE the idea of credit that's fine - pay only the stuff you'd use cash for in the first place like gas or a loaf of bread - IT DOESN'T MATTER how much you charge on the account - only that you USE the card.
5) Lastly AND EXTREMELY importantly, find a resource for Learning about credit and your finances - since you're new to this, you MUST get all of the education possible. Credit Literacy Group will be online inside of the next 30 - 60 days and if you are a student, military or first responder the access is free to you.
In no time at all, you'll be offered many other credit cards. You'll be then able to to open new accounts and obtain your deposits back. The banks you opened the Secured Cards with, will likely make you this offer to return your money.
Once you have become aware and knowledgeable about credit by learning in step 5, you'll be unafraid of credit and see the necessity for it. UNFORTUNATELY it IS needed - not the debt but the scores. Credit Scores are NOT ONLY used for credit offers anymore but now even:
- employment, insurances (health, home, auto and life), and soon much much more.
So you MUST get scores and learn how to manage them - PLEASE for your sake take these steps INCLUDING the learning -it is essential.
Good luck!|||You don't need credit card but you need a history of paying back loans, such as car loans, home loans. Checking accounts helps but not much in building your credit history. The information in your checking account will not be visible to other companies and thus cannot be used as a credit history.|||Hmm..somebody told me once to get like a gas card or something and that could build some credit but idk if that would work. My suggestion is for you is to just get a credit card with the lowest amount possible and just use it to get like a coffee or something every week or so. That way when you pay it back its not an overwhelming amount. You do NOT want to max it out like i did with mine lol|||You could get a small loan from your bank, a few hundred dollars and pay it back over time so they report it. You can get a secured loan or credit card, a store credit card but basically you have to have debt (short term) to get a credit score.|||no cradit card, means no credit records for your credit score, so you need a credit card to have a credit score
1) You do NOT need credit cards to establish and create credit scores but read on
2) You DO need MINIMUM 3 accounts to get a credit score
3) You do NOT need to be in 'debt' to get a credit score
ALL of these are 'myths' we must dispel. Here is what you NEED to do, whether you like it or not - and please realize I am NOT a fan of the conspiracy of credit - but we need to deal with it.
Quickest, easiest and cheapest way:
1) 1 account - go to your bank where you have your account, have them do a 'secured' loan against some of your balance. Let's say $1000 loan. they will take $1000 of your balance and put it into a different account or 'freeze' that amount in your account. You then make the monthly payments to pay the loan off - do NOT pay it off earlier than 1 year. Since you are establishing credit - you want to start establishing decent LENGTH of credit accounts.
2) Then research the National Banks that have 'Secured Credit Cards' and obtain one. ONLY use TRULY secured credit cards which work identically to the secured loan with your bank that we discussed here. DO NOT use ANY OTHER TYPE OF CARD OFFER YOU SEE. They Scams meant to get consumers who don't want to part with any of their money and deposit with a bank and are RIDDLED with hidden fees and WILL RUIN your credit before you EVER get it built. BTW, you technically CAN use the $1000 dollars from your bank loan to deposit for the secured credit card - I don't recommend it but you can.
3) Then do the same thing again for ANOTHER Secured Credit Card just as in step 2 - don't worry if the credit limits are $500 or $1000 based on your deposit, these work just fine - BUT don't get cards with only $250 limits - one if you HAVE to, but not both.
4) You MUST USE YOUR CARDS to be certain they report to the bureaus. BUT DON'T PAY INTEREST on them, this is not necessary. Just pay off the balance AS SOON AS THE BILL comes in. If you don't LIKE the idea of credit that's fine - pay only the stuff you'd use cash for in the first place like gas or a loaf of bread - IT DOESN'T MATTER how much you charge on the account - only that you USE the card.
5) Lastly AND EXTREMELY importantly, find a resource for Learning about credit and your finances - since you're new to this, you MUST get all of the education possible. Credit Literacy Group will be online inside of the next 30 - 60 days and if you are a student, military or first responder the access is free to you.
In no time at all, you'll be offered many other credit cards. You'll be then able to to open new accounts and obtain your deposits back. The banks you opened the Secured Cards with, will likely make you this offer to return your money.
Once you have become aware and knowledgeable about credit by learning in step 5, you'll be unafraid of credit and see the necessity for it. UNFORTUNATELY it IS needed - not the debt but the scores. Credit Scores are NOT ONLY used for credit offers anymore but now even:
- employment, insurances (health, home, auto and life), and soon much much more.
So you MUST get scores and learn how to manage them - PLEASE for your sake take these steps INCLUDING the learning -it is essential.
Good luck!|||You don't need credit card but you need a history of paying back loans, such as car loans, home loans. Checking accounts helps but not much in building your credit history. The information in your checking account will not be visible to other companies and thus cannot be used as a credit history.|||Hmm..somebody told me once to get like a gas card or something and that could build some credit but idk if that would work. My suggestion is for you is to just get a credit card with the lowest amount possible and just use it to get like a coffee or something every week or so. That way when you pay it back its not an overwhelming amount. You do NOT want to max it out like i did with mine lol|||You could get a small loan from your bank, a few hundred dollars and pay it back over time so they report it. You can get a secured loan or credit card, a store credit card but basically you have to have debt (short term) to get a credit score.|||no cradit card, means no credit records for your credit score, so you need a credit card to have a credit score
Why do debit card companies want you to slide your debit as a credit card?
I signed up for this chase extras promotion crap. And apparently, to gain points, I can only swipe my debit card as a credit, in order to get points.
Why is this the case, and why do so many credit/debit companies encourage you to swipe your DEBIT card as a credit card and sign?
Thanks, all answers are appreciated.|||Because when you use a credit card, the merchant has to pay a fee, which is usually 3% to the bank. So...this way the bank makes more $.|||The reason is that the fees earned for debit card use are negligible. The fees for credit card use are close to 3% of the transaction.
Personally I refuse to own a debit card because you have absolutely no protection.
Why is this the case, and why do so many credit/debit companies encourage you to swipe your DEBIT card as a credit card and sign?
Thanks, all answers are appreciated.|||Because when you use a credit card, the merchant has to pay a fee, which is usually 3% to the bank. So...this way the bank makes more $.|||The reason is that the fees earned for debit card use are negligible. The fees for credit card use are close to 3% of the transaction.
Personally I refuse to own a debit card because you have absolutely no protection.
How long before a credit card charge shows on account?
If I run my debit card as a credit card how long does it usually take to draft from my bank account? Lets say I pay for groceries with it on credit, when might the cash show as being taken from the account?|||This is something that varies from bank to bank, and should really be asked of your financial institution that issues your card. Relying on advice here might put you in an awkward situation if something goes awry.|||When it comes to making purchases with a Visa or MasterCard branded debit card, the choice between "Debit" or "Credit" only selects the path the transaction takes through the banking system. The credit card option often costs more to process, but in either case, the money is deducted from your account as soon as your bank gets wind of it. Usually that's in just a few moments.|||Mine show within 24 hours.
What are some legit credit card companies that will offer me a card even though I have a bad credit score?
I have never owned a credit card and I owe collections $400. Does anyone know where I can get a credit card offer regardless of my bad credit score?|||Start at your bank.
Go for a prepaid or secured card first. This will allow you to build credit without going into debt.
Otherwise try Sears. It's also a good start, easy to get, and usually such a tiny limit that you can't get into trouble.
Go for a prepaid or secured card first. This will allow you to build credit without going into debt.
Otherwise try Sears. It's also a good start, easy to get, and usually such a tiny limit that you can't get into trouble.
Any way to talk a credit card company into giving you a card?
I am wondering if there is any way to talk a credit card company into giving you a card or being able to transfer your balance to them...? I have a Capital One card now (big mistake) and a child on the way and Capital One is messing around big time with me so I'm never coming out ahead after my payments. I want to open another credit card with a different company but I keep getting turned down. Is there a good way to talk to someone about getting one?|||If you "keep" getting turned down, that means that you kept applying, so it is probably too late now. Every application hurts your credit score, and your chances of any subsequent application being approved. Stop applying immediately, and wait more than a year before you apply again. When you "keep" applying, you keep get rejected. That is how it works. To be approved even once, you should apply much less.|||well where does your credit score stand at right now? that has allot to do with it also have you talked with cor pt and see if they can help you out with your mess, remember every time your ask for a card its a hit on your credit report and score too many dings is not a good thing and good luck and the next at least 18 yrs plan your child|||what exactly is the definition of "messing around big time with you"? What makes you think another lender will be any different?|||Capital One is one of thee best there is.. so that cant be really whats going on....|||There is no way to "talk" a credit card company into giving you a card. You apply and they review your credit. If you are being turned down, that means your credit isn't good enough. Even if you could qualify for another card, shifting the debt to another credit card isn't the answer.
I suspect you have run up the balance on that Capital One card and are only making minimum or slightly more payments. That's a formula to get you rated as a higher risk. You need to stop charging on that card and work on making larger payments to pay off that balance.
Maybe you should check with a NFCC credit counseling service: http://www.nfcc.org/. These are legit, non-profit companies that offer debt management programs for a nominal fee. They negotiate lower interest and payments so you can pay off all your credit card debt. When you complete the program, you will have decent credit.|||bah hahahahahahahahahahahahahahahahahahahaha鈥?br>
cry all you want, these banks are not like your momma and wont give you a card just because you cried to them.
Get on it buddy if your getting declined its because your credit score is not good enough. Why dont you work on fixing that problem so in two years you would be able to get any card you want with your marvelous credit score
I suspect you have run up the balance on that Capital One card and are only making minimum or slightly more payments. That's a formula to get you rated as a higher risk. You need to stop charging on that card and work on making larger payments to pay off that balance.
Maybe you should check with a NFCC credit counseling service: http://www.nfcc.org/. These are legit, non-profit companies that offer debt management programs for a nominal fee. They negotiate lower interest and payments so you can pay off all your credit card debt. When you complete the program, you will have decent credit.|||bah hahahahahahahahahahahahahahahahahahahaha鈥?br>
cry all you want, these banks are not like your momma and wont give you a card just because you cried to them.
Get on it buddy if your getting declined its because your credit score is not good enough. Why dont you work on fixing that problem so in two years you would be able to get any card you want with your marvelous credit score
How do you start a credit card company?
I am contemplating offering a credit card for a retail item example (bowflex card) which I believe is backed by HSBC... I have the money to back the card but am unsure of the licensing and regulation. I am in NY and I wanted to see if anyone on this board could point me in the right direction.|||Join LinkedIn if you are not a member and join the Special Interest Group named Consumer Finance Professional. Pose the question in a way that lets people know you have capital but need to organize a team of professionals who can make this real. Someone in this group might be able to point you in the right direction.|||for help ; open the third %26amp; sixth link in: www.credit-debit-card.co.cc
What happens if your credit card gets declined?
I pay $34 a month for a gym membership. Ive been broke as hell lately due to less hours at work and i only had 28 dollars in my card. What will happen if the gym charges my card and it gets declined? Will it effect my credit? Also how do you max out your credit card? If i have 28 in my card and i try to pay more than that i will just get declined. Would i have to spend exactly $28 dollars to max it out?|||There is something called "an over the limit fee".
There is a reason this fee exists on credit cards.
It could be a $39 fee.
The card could also be declined depending on your card company.
Google your card and see what fees they carry for this.
Do you realize you are maxed out?
Did you know this is horrible for your credit?
Any time you use more than 30% of your available credit limits you are reducing your score.
Max out and you are causing utter devastation.
/
/|||Is it your debit card? If so, you could be charged over draft fees (if the bank approves the transaction).
Is it a credit card? If you go over the limit, there may be recourses for your creditor to raise the interest rate, charge late fees, charge over-the-limit fee, and/or close the account.
READ your GYM membership CONTRACT. Of course, if you don't pay it or don't fulfill the contract the gym can do what they want to get the money : go to court, send you to collections, or demand your full payment. I doubt they even have it on your credit at all, but they could report it if you don't pay it at all.
Cheers!
There is a reason this fee exists on credit cards.
It could be a $39 fee.
The card could also be declined depending on your card company.
Google your card and see what fees they carry for this.
Do you realize you are maxed out?
Did you know this is horrible for your credit?
Any time you use more than 30% of your available credit limits you are reducing your score.
Max out and you are causing utter devastation.
/
/|||Is it your debit card? If so, you could be charged over draft fees (if the bank approves the transaction).
Is it a credit card? If you go over the limit, there may be recourses for your creditor to raise the interest rate, charge late fees, charge over-the-limit fee, and/or close the account.
READ your GYM membership CONTRACT. Of course, if you don't pay it or don't fulfill the contract the gym can do what they want to get the money : go to court, send you to collections, or demand your full payment. I doubt they even have it on your credit at all, but they could report it if you don't pay it at all.
Cheers!
Is opening and canceling a credit card in a week bad for your credit score?
I have an opportunity to save $30 on a TV by signing up for a credit card. Will it hurt my credit score if I open it and cancel it in a week? I know you're not supposed to cancel cards you've had for a while, but I wasn't sure about this.|||It would depend on your personal credit file.
www.myfico.com has some great info on how the bureaus come up with your credit score... you'd be surprised at what people look for!
For example, I used to be a loan officer for a mortgage company. If someone had $10k in medical bills, we didn't care. If they had maxxed out credit cards, though... we had to come up with an excuse for the lender to hear.
A direct link to some free downloads on credit score information - http://www.myfico.com/crediteducation/br鈥?/a>|||Your credit takes a hit every time you apply for a card. Not sure about cancelling though. |||Yes, the general rule is that you never want to completely cancel a credit card if you are planning on applying for a loan, mortgage etc in the next 24 months (unless their is an annual fee or something) because this does hurt your credit score. I would leave the card account open but cut the card up. This explains it much better than I ever could - http://creditshout.com/credit-cards-to-cancel-or-not-to-cancel/|||That really depends. If you intend to close it there are several factors you need to look into over the entire transaction. And in my opinion the negatives outweigh the positives...
1 - A search hit on your credit history (negative)
2 - Increase in your overall outstanding line of credit (neutral)
3 - Increase in your credit line (negative)
4 - Full payment before due (slight positive).
To truly take advantage what you should do is not close the card immediately, but keep it to buy more things instore for discounts and use the card at least twice a month and never more than 30% of the overall balance and pay before the due date on your statement.
Use it to build your credit score so it does not be a burden. You can get more data at http://www.instantapprovalcreditcard.inf鈥?/a>
www.myfico.com has some great info on how the bureaus come up with your credit score... you'd be surprised at what people look for!
For example, I used to be a loan officer for a mortgage company. If someone had $10k in medical bills, we didn't care. If they had maxxed out credit cards, though... we had to come up with an excuse for the lender to hear.
A direct link to some free downloads on credit score information - http://www.myfico.com/crediteducation/br鈥?/a>|||Your credit takes a hit every time you apply for a card. Not sure about cancelling though. |||Yes, the general rule is that you never want to completely cancel a credit card if you are planning on applying for a loan, mortgage etc in the next 24 months (unless their is an annual fee or something) because this does hurt your credit score. I would leave the card account open but cut the card up. This explains it much better than I ever could - http://creditshout.com/credit-cards-to-cancel-or-not-to-cancel/|||That really depends. If you intend to close it there are several factors you need to look into over the entire transaction. And in my opinion the negatives outweigh the positives...
1 - A search hit on your credit history (negative)
2 - Increase in your overall outstanding line of credit (neutral)
3 - Increase in your credit line (negative)
4 - Full payment before due (slight positive).
To truly take advantage what you should do is not close the card immediately, but keep it to buy more things instore for discounts and use the card at least twice a month and never more than 30% of the overall balance and pay before the due date on your statement.
Use it to build your credit score so it does not be a burden. You can get more data at http://www.instantapprovalcreditcard.inf鈥?/a>
How long does it take for credit card companies to report to credit report?
I have one credit card and its always paid I have had it for about 4 months and my credit score is still 0 and shows no credit card accounts how long does it take for them to report it ?|||http://wiz.sc/credit-report is a good site to go to, to get credit report advice.|||Its takes at least 1 year for you to build up credit on a credit card. And it also depends on where you are looking at your credit score. If you are looking on an online website like freecreditreport.com most likely it will not be right because most banks and other places that look at your credit score have 3 major scales that the look at: exprion, equifax and 1 other.|||Normally it should only take 3 months. Be patient because before you know it, you will have your credit score. I think it does take more than one creditor though. ( I could be wrong) Good luck %26amp; don't get too in debt, because it is not worth it!|||Capital One had a credit report monitoring service they signed me up for when I got my first credit card from them. After about 6 months of a 0 credit score, I switched to Experian Credit Expert. It is costing about twice as much, but I found there was actually a lot of information on my credit report where the old service showed nothing.
I think having a service directly from a credit bureau like Credit Expert from Experian is probably much better.|||Credit cards usually report within 60 days. However, you will need a minimum of 6 months before you have a score of any sort. Best way to build your score is to use the card and pay it in full every month.
Don't waste money on monitoring services. You really don't need to be checking your score every week or month.|||Credit companies (car loans and home loans too) are typically about 30 to 60 days behind. If it's a NEW card, the first recording could take 3 months or a little more. My friend bought a car and it took 6 months to actually show up on her credit report.
I think having a service directly from a credit bureau like Credit Expert from Experian is probably much better.|||Credit cards usually report within 60 days. However, you will need a minimum of 6 months before you have a score of any sort. Best way to build your score is to use the card and pay it in full every month.
Don't waste money on monitoring services. You really don't need to be checking your score every week or month.|||Credit companies (car loans and home loans too) are typically about 30 to 60 days behind. If it's a NEW card, the first recording could take 3 months or a little more. My friend bought a car and it took 6 months to actually show up on her credit report.
Which is the best secured credit card to get if you have bad credit?
I am looking for a secured credit card that has the lowest interest rate and the lowest deposit amount. Also a need a card that will be reported to all three credit bureaus.|||None of them.
You are paying interest to get a card that allows you to use your own money.
You're better off going to the bank and saying "I have some cash, and would like to buy some FICO points". Because once they finish with the shell game, that's what you've done.|||if you have bad credit, you could still be able to get a secured (typically, deposit is at $300) or an unsecured credit card for that matter, just do a little shopping for different cards, there are several that are offered to people with bad credit... and when you're at it, or when you already have one, try to practice monitoring your credit and try to keep it 'clean' as much as you can, this way you'll start to build your credit once again...|||Bank of America Secured credit card, Applied Bank Secured Visa and/or New Millennium Bank Secured. http://bestcreditcardratings.com/secured|||This is one I found:
http://www.buildcreditblog.com/secured-c鈥?/a>
You are paying interest to get a card that allows you to use your own money.
You're better off going to the bank and saying "I have some cash, and would like to buy some FICO points". Because once they finish with the shell game, that's what you've done.|||if you have bad credit, you could still be able to get a secured (typically, deposit is at $300) or an unsecured credit card for that matter, just do a little shopping for different cards, there are several that are offered to people with bad credit... and when you're at it, or when you already have one, try to practice monitoring your credit and try to keep it 'clean' as much as you can, this way you'll start to build your credit once again...|||Bank of America Secured credit card, Applied Bank Secured Visa and/or New Millennium Bank Secured. http://bestcreditcardratings.com/secured|||This is one I found:
http://www.buildcreditblog.com/secured-c鈥?/a>
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