Using Your Credit Card: What Is Its Purpose?

This can make a big difference in how you use it and what you will pay in charges and fees for using it. Before choosing a credit card, consider what it is that you plan to use it for. Not all credit cards are the same, and this goes beyond the APR that most people are aware of. There is a wonderful feeling to having a credit card when you need one, but that blanket term "credit card" can be misleading at times.

If you pay in full, you do not incur finances charges which are based on the company APR. Keep in mind that finance charges do not kick in unless you carry over a balance. If you intend to follow this routine, then APR will not matter as much to you.

There are some consumers who will pay off their bill each and every month, and rarely, if ever, carry the balance over into the next billing cycle.

For those who will be paying the full balance each month, consider a credit card that has a longer grace period and has no annual fees. This allows you to use the credit for little, if any, charge. Do keep in mind, however, that if you happen to lapse and carry a balance, you will have to pay the finance charges and then APR will matter to you.

Most people, however, do carry over a balance and for those individuals it is important to find the credit card that offers the lowest annual percentage rate (APR). The APR is the number that the credit card company will use to calculate your monthly finance charge so the lower this number the less money you will pay.

If you think that you may use your credit card to get cash advances, you will certainly want to look at the fees and charges for that service. It is important to remember that many, if not most, of the credit card companies charge a higher rate for cash advances than they do for purchases. Some companies will charge a substantial amount more and you would do well to avoid using these cards for cash advance purposes.

Make sure you look for that before you sign up, as it may not be in your best interest to pay higher rates for benefits that you will not use. Many of the companies that offer these promotions will have a slightly higher APR to help offset the cost of the programs. The old adage that nothing is free applies here as well.

There is nothing wrong with opting into these programs if they are benefits that you are going to actually use. These might include such things as frequent flyer miles, phone minutes, rebates and other things. Many people are lured into poor credit card choices by the promotions that many companies offer.

This information must be clearly printed and if you have to hunt for it, then you may want to avoid dealing with that company. Federal law requires that all solicitations and applications for credit cards include key information on the rates and fees that they charge consumers. In order to find out what the APR and other fees are for any particular company, you can visit their website or you can look at the information that comes to you through the mail.

5 Crucial Tips When Shopping For Low Interest Rate Credit Cards

In today?s market low interest rate credit cards, they are as follows:

Interest rates can nearly triple when this clause is enacted. Say for instance if you co-signed for a car with someone and he misses a payment you can be penalized, harshly. The scary part is that they can use your payment history from other accounts to enact the clause.

It basically says that if you are late on payments they can jack up your rates at will. Universal default is a buried clause in the fine print of almost all low interest rate credit cards. Universal Default ?

Payment Grace Periods ? It used to be that consumers had a full 30 days to pay their balances before the credit card company started charging interest. This isn?t true anymore. In fact the average grace period is about 22 days now. Even the low interest rate credit cards are practicing the shortened grace period. Some of your credit cards designed for bad credit do not have a grace period at all! Always find out what your grace period is.

Cash Advances ? Be careful when you pull into that ATM to get some cash for the day. Most credit card companies have higher rates for cash advances than they do for purchases. The cash advance interest rates can be almost 30% when you consider the fees added for the transaction. Also, you must pay the cash advance back over and above your regular payment to get rid of the higher interest rate. There is rarely any grace period for cash advances either. We at Credit Card Banc strongly advise against taking cash advances from any credit card.

Two-Cycle Billing ? This sneaky trick is usually buried in the fine print. Two cycle billing is when the credit card company will charge you interest based on the on the average balance carried on the card, not the actual balance. Say for instance if we charge $1000 on the card in January with the intention to the balance off completely by March in two $500 payments. Let?s assume your interest rate is 10%, which makes your interest $100. Februarys you make a $500 dollar payment leaving a $500 balance. Your Interest on this balance is $50.00. Not so with two cycle billing. The card company will average the balances which is $750. Your interest due is now $75 not fifty. Look out for this trick when comparing low interest rate credit cards.

It could make the difference between a good deal and a bad one. Honestly look at your spending and payment habits and the possible fees you might incur. Account set up fees, monthly fees, over the limit fees, late fees, additional card fees and a host of other fees.

However what about the other fees? If the rate on the card is low enough I really do not mind a reasonable annual fee, the call is yours. This is because most people that can qualify for a market low interest rate credit card pay their balances in full each month. This is because most people that can qualify for a market low interest rate credit cards will charge a hefty fee to cover their expenses. Fees, Fees and more Fees - A lot of market low interest rate credit cards will charge a hefty fee to cover their expenses.

If you carry a balance on your card often and always pay your bills at the end of the month it may benefit to take a slightly higher interest rate in lieu of a better billing cycle and lower late fees. Look at the fees, look at the billing cycles and compare all of these variables with your spending and payment habits. In closing, I can?t stress enough that you need to read the fine print!

How To Get A Short Term Loan

Here is what you need to know about getting one for your needs. This is where it could be real handy to get a short-term loan. Something has come up and you are in need of some cash - but only till payday.

You do work, and the money is coming, its just that payday is a week away. Every now and then money can get a little tight in between paydays.

These loans enable you to get the cash you need in a very short time - sometimes in about an hour, but some places will take up to 24 hours. Short-term loans also go by a number of other names, such as payday loans, cash advance, fast cash, and a few more.

All you need in order to get your short-term loan is being employed at the same place more than three months. In addition, you will need to make more than $1,000 each month. They will ask for the name and phone number of your employer, and may call for verification. In some cases, you may need to fax copies of some of your recent pay stubs to them as proof of your income. A bank statement may also be needed, too.

You will also need to be ready to give some pertinent checking account information. This is where you will get your money, which will be directly deposited into it. Also, the money will probably be withdrawn out of it on the day the loan becomes due. An alternative way of paying is that you pay the loan off in person at the loan office. This account will need to have been in existence also for about three months.

Short term loans, or payday loans, are required to be paid back in just a few days - usually your next payday. Your first loan from a payday loan office - or Web site will be small, probably less than $400. You also want to make sure that you pay it off on time, too, as this will help you to get payday loans in the future for more money. Not paying it will quickly get you into trouble and banned from future payday loans.

One nice thing that you will also want to look around for is that a number of payday loan providers will let you have the first one interest free. At this rate, you will want to shop around some so that you can find a good one. This can range anywhere from about 15 all the way up to 30%.

Be aware that these payday loans can have quite a high interest rate.

By shopping around, you may be able to find even better deals. Because of the high amount of competition between the lenders, new features are slowly being added to make their loan product more desirable. Some, though, will allow you to pay it back in three or four payments - instead of all at once. This is a newer feature, and not many do it yet.

Some payday loan lenders also have some differences in how long you will be given to pay the loan back, too.

Using Your Card: What Is Its Purpose?

This can make a big difference in how you use it and what you will pay in charges and fees for using it. Before choosing a credit card, consider what it is that you plan to use it for. Not all credit cards are the same, and this goes beyond the APR that most people are aware of.

There is a wonderful feeling to having a credit card when you need one, but that blanket term "credit card" can be misleading at times.

If you pay in full, you do not incur finances charges which are based on the company APR. Keep in mind that finance charges do not kick in unless you carry over a balance. If you intend to follow this routine, then APR will not matter as much to you. There are some consumers who will pay off their bill each and every month, and rarely, if ever, carry the balance over into the next billing cycle.

For those who will be paying the full balance each month, consider a credit card that has a longer grace period and has no annual fees. This allows you to use the credit for little, if any, charge. Do keep in mind, however, that if you happen to lapse and carry a balance, you will have to pay the finance charges and then APR will matter to you.

Most people, however, do carry over a balance and for those individuals it is important to find the credit card that offers the lowest annual percentage rate (APR). The APR is the number that the credit card company will use to calculate your monthly finance charge so the lower this number the less money you will pay.

If you think that you may use your credit card to get cash advances, you will certainly want to look at the fees and charges for that service. It is important to remember that many, if not most, of the credit card companies charge a higher rate for cash advances than they do for purchases. Some companies will charge a substantial amount more and you would do well to avoid using these cards for cash advance purposes.

There is nothing wrong with opting into these programs if they are benefits that you will not use. These might include such things as frequent flyer miles, phone minutes, rebates and other things. Many people are lured into poor credit card choices by the promotions that many companies offer.

This information must be clearly printed and if you have to hunt for it, then you may want to avoid dealing with that company. Federal law requires that all solicitations and applications for credit cards include key information on the rates and fees that they charge consumers. In order to find out what the APR and other fees are for any particular company, you can visit their website or you can look at the information that comes to you through the mail.

What Loan Options Are Available To Those With Bad Credit?

Here are some of the various types of loans that you can get - even if you have bad credit. The truth is, nowadays, that loans are just about as available for people with bad credit. When it comes time to look around for the money you need to buy that thing you want, whether it is a car, a vacation, electronics, or whatever, you do not need to restrict yourself just because of bad credit.

Anyway, whatever the reason, if you have bad credit there are different kinds of loans that will help you when you need it. This, of course, means more profit to the lender. It may be that one of the reasons that someone with bad credit can more easily get a loan these days is because most people will come back to a lender sometime and get another loan.

One of the most common and easy to get is called a cash advance, or payday loan. These loans are unsecured, and for this reason are often referred to as being signature loans. These loans are available for emergency cash - up to $1,000, and are electronically deposited into your checking account within 24 hours. Some will put the cash where you need it in much less time. A word of caution about these, though, is that the interest is very high - usually around 30%, and will need to be paid back within two weeks.

Another personal loan, which would be your best option, is a secured loan. Collateral will need to be given, such as a house or car. Bad credit is accepted, and having collateral will enable you to get better rates than if you offered none. Although a bad credit loan is secured, you still will get higher interest rates than someone who has better credit. So if you need the money now, you have access to it.

You will want to remember that with any money that you borrow, that it does effect your credit rating. By making your payments on time each time, you slowly build your credit rating and work to bring it back to where it should be. Getting a loan with bad credit can help you, but you might want to think about trying to keep them small or you will be paying more interest than necessary. It might be more profitable to you if you wait a little longer until your credit is repaired with small loans and credit cards.

You will also have smaller amounts that you can borrow, and shorter periods of time to pay the loan. Having no collateral, though, and bad credit, will mean that you pay more in interest. You will also have smaller amounts that you can get which do not require any collateral.

Having no collateral, though, and bad credit, will mean that you pay more in interest. You will also have smaller amounts that you can get which do not require any collateral. Having no collateral, though, and bad credit, will mean that you pay more in interest. Unsecured loans are personal loans that you can get which do not require any collateral.

You can easily get a loan without this clause and it could allow you to save even more money. In addition, be sure that there is not any early closure penalties that charge you for paying it off early. You should get several online quotes to see which bad credit loan is best for you.

However, many lenders will charge higher interest than others will and it will be up to you to look around to get the best deal. Bad credit should not stop you from getting the money you need.