Personal finance – www.stop-finance.org http://www.stop-finance.org Just another WordPress site Wed, 02 Mar 2016 16:34:37 +0000 en-US hourly 1 https://wordpress.org/?v=4.7.4 Having a Bad Credit http://www.stop-finance.org/having-a-bad-credit/ http://www.stop-finance.org/having-a-bad-credit/#respond Wed, 14 Mar 2012 09:59:31 +0000 http://oneclick.i.biz/instances/www.stop-finance.org/?p=29 Life with a bad credit rating can certainly make life challenging. You can struggle to receive a mortgage for a home, a car loan or even a credit card. In some cases, bad credit can even make it difficult to obtain good rates on auto insurance or even the best job. Take a few minutes to learn more about bad credit and what you can do to change your credit life.

Bad Credit

Bad Credit

If you have bad credit this means that one or more things are true about your credit history. You have not always paid your bills on time and perhaps have left some loans default or credit card accounts to be charged off. Bad credit can also results in part from maxing out all of your credit cards and other lines of credit. Bankruptcies, collection accounts and negative judgments will also result in poor credit.

You can struggle to obtain credit if you already have a bad credit rating. Lenders will be concerned that you will always pay on your loan or credit card late or that in time you still stop paying all together.

There are some things you can start doing now to improve your credit. Try to find a way to bring all or as many counts current as possible. Perhaps you can apply a tax refund to these accounts or you can drop down to a lower cell phone or television package to save money that can be applied to those accounts. There are almost always ways to free up some extra money. Work hard to make sure that you never pay a bill late again.

Contact creditors for which you are very delinquent to determine if they will offer you any type of payment plan or payoff agreement. If the company says yes, ask that they report your account as paid or full or update your credit file to say paid as agreed if you uphold your end of the payment agreement.

Stop using credit and begin paying down on your current credit in order to lower the amount of available credit you are using. Do not close old accounts because they can actually help to improve your credit as long as they are current each month.

Look for ways to improve your bad credit so that you never need to be turned down for a loan or credit card again.

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Do I Need a Credit Card? http://www.stop-finance.org/do-i-need-a-credit-card/ http://www.stop-finance.org/do-i-need-a-credit-card/#respond Wed, 14 Mar 2012 09:45:43 +0000 http://oneclick.i.biz/instances/www.stop-finance.org/?p=11 Having credit cards makes life much easier; the differences between Visa, MasterCard and an American Express card are significant, but having any one of them will make life easier. It is not impossible to go through life without owning a credit card; however, it will make many things less complicated.

Credit Cards

Credit Cards

To book hotel rooms, rental cars and many other things you may need or want, a credit card is a requirement. Yes, while you can use your debit card to pay for these things, the establishment where you are will place a hold on your bank account for a specific amount. The biggest pro of having credit cards is the ability to book hotels and rental cars and other travel and entertainment items without having a hold placed on your bank account for as long as 30 days; during that 30 days your funds cannot be used. Credit cards do not allow this to happen and therefore your funds are free for use.

The cons of having credit cards are pretty obvious; the risk of debt is a big one. For those who are not responsible with their spending habits, having a credit card could mean they will end up in debt. Many people view credit cards as free money, even though they are not. Purchases made with a credit card that are not paid off in full each month accumulate interest and end up costing much more in the long run.

When it comes to choosing the type of credit card to use, there are several options. Some of the most commonly used cards are Visa, MasterCard and American Express. Visa and MasterCard are not companies that issue credit cards; rather they are companies that work as intermediaries between financial institutions that offer credit cards and you. These financial institutions pay to have the credit card logo on it so that the card will be accepted worldwide. American Express issues its own card and works with no one else. Additionally, AmEx typically costs more to have in the way of annual fees; some AmEx cards must be paid off in full each month while others allow for a revolving balance.

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