Tuesday, May 3, 2011

Best credit cards Deal 2011

One year ago, the Credit Card Accountability Responsibility and Disclosure (CARD) Act took effect, causing much handwringing among pundits that consumers would be cut off from credit. Your mailbox probably tells a different story. Now that the economy is improving and card companies have tightened their credit standards to keep away the deadbeats, card marketing is back with a vengeance. In the third quarter of 2010, card companies sent out 1.2 billion credit card mailings, more than three times than the number they sent in 2009, according to Mintel Comperemedia, a Chicago company that provides direct marketing research. Eighty percent of those offers were for some kind of rewards cards.

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The message to consumers: We want you back.

"It's a sign of how competitive the industry has become once again," says Peter Garuccio, a spokesperson for the American Bankers Association. "Everyone is competing for the same wallets."

That's quite a turnabout in just a year. This time last February, new credit card customers were about as popular as Obamacare at a Sarah Palin rally. Interest rates and penalty fees were going up, while credit limits were going down. A number of analysts predicted credit rewards programs would end up on the endangered species list. Today, however, card companies are sweetening rewards programs and making it easier than it has been in years to transfer balances and "the rewards offers are better than pre-recession," says Odysseas Papadimitriou, CEO and founder of CardHub.com. "Thanks to the CARD Act, consumers can now make educated decisions about what they want to purchase and count on their interest staying the same as long as they don't miss a payment and there aren't any changes in the prime rate. They could not do that before."

[Click here to check current credit card offers, including rates and terms.]

To find out which of the new and improved cards are most worth your while, MoneyWatch consulted the experts at LowCards.com, CardRatings.com and BillShrink.com. Here are the best cards in six different categories:

1. Best Low Rate Card

• First Tennessee Platinum Premier Visa (intro rate of 3.9 percent; 800-234-2840)

The interest banks pay on your savings account may be at record lows, but average interest rates on credit cards are at near highs. What's more, fixed rate cards have virtually disappeared. Most low rate cards are now variable and have rates that rise or fall with the prime rate. The First Tennessee Platinum Premier Visa currently has the lowest interest rate on the market, with a fixed introductory rate of 3.9 percent for six months followed by an APR of between 5.15 and 13.15 percent, depending on your credit score. There's no annual fee and cardholders are automatically enrolled in First Tennessee's cash back rewards program, which credits cash directly to your statement for shopping with participating merchants. "If you're looking for the lowest rate card plus rewards, this is the best I know of," says Bill Hardekopf, CEO of LowCards.com. The catch: As with most low interest cards, this one comes with a range of interest rates and only consumers with the best credit histories will qualify for the low end of the range

2. Best Balance Transfer Card

• Discover More (11.99% to 20.99% variable; 800-347-2683)

Zero percent balance transfer rates are back! During the credit crunch, teaser rates -- the introductory rates credit card companies dangle to entice you to switch providers -- were running 3.99 to 4.99 percent and were sometimes only good for three months. The Card Act requires credit card companies to maintain those rates for at least 6 months, and some companies, like Discover, are extending these offers even longer. The Discover More card features a fixed 0 percent introductory rate for 12 months with no balance transfer fee and no annual fee. After that, the APR ranges from 11.99 to 20.99 percent, depending on your credit score. Plus, you qualify to participate in Discover's cash back rewards program. "You can go out 18 months on other cards with a zero percent rate, but you'll have to pay a 3 to 5 percent balance transfer fee," says Curtis Arnold, founder of Cardratings.com.

3. Best Cash Back Rewards Card

• Fidelity Investment Rewards American Express (13.99 percent variable; 866-598-4971)

"Reward card users are loyal, they have money, and they pay their bills," says Schwark Satyavolu, co-founder of BillShrink.com. "So the card companies are going to do whatever they can to keep them happy." The best cash back rewards today come from the Fidelity Investment Rewards American Express card, which pays you 2 percent back on all purchases with no limits on how much you can make in a year. And unlike many AmEx cards, the Fidelity card has no annual fee. The catch: You need a Fidelity investment account to receive the cash rewards, but they can be withdrawn for any use. "There are other cards that give you 1 percent back on your everyday purchases and 5 percent back on things like drug store purchases, but they also tend to have limits on how much you can earn," says Schwark Satyavolu, co-founder of BillShrink.com. "Having an unlimited earning capacity is the most important thing."

4. Best Airline Miles Reward Card

• The Capital One Venture Rewards (11.9 to 19.9 percent variable; 800-410-0020)

While cash is king, there are still plenty of road warriors trying to bulk up on airline miles. For them, our experts unanimously agreed that the Capital One Venture Rewards card is the best air mile deal flying. "I'm not a big fan of travel rewards, but I will say that this is the simplest and best program out there," says Curtis Arnold. The card awards two miles for every dollar you spend on the card, and new cardholders earn a one-time bonus of 10,000 miles if they spend $1,000 in the first 3 months. To redeem your rewards, miles are converted into cash at the rate of 1 cent per mile, or $250 for every 25,000 miles; that cash is then applied to the purchase of an airline ticket. Miles never expire, and since Capital One is converting them to cash, they can be used on any airline at any time, with no blackout dates. The catch: With a $59 annual fee, this card is best for people who will really make use of travel rewards. If paying for that privilege doesn't make as much sense for you, the Capital One VentureOne Rewards card (11.9 to 19.9 percent variable APR; 800-410-0020) comes with no annual fee and awards 1.25 miles for every dollar spent. Both cards are designed for consumers with excellent credit.

5. Best Card to Help Manage Your Money

• Blueprint from Chase (800-432-3117)

Credit card companies obviously help you spend money, but can they also help you manage it? That's the premise behind an emerging category of cards with features that reward consumers for good financial behavior. Just this month, TD Bank introduced the Payment Plus Visa, which gives you a credit for a portion of your interest when you pay off part of your outstanding balance. Similarly, the Citi mtvU Platinum Select Visa rewards college students for maintaining a high GPA and gives 5 percent cash back for textbook purchases. "These kinds of programs are the new face of credit cards; if you use them wisely, they can be beneficial," says Arnold. But he advises consumers to read the fine print: TD Bank's Payment Plus card carries a 21.24 percent interest rate and the rate on Citi's MTV card varies from 13.99 up to 21.99 percent, rates that can quickly wipe out any savings you get from the other features the cards offer.

Our favorite in this new category is Blueprint from Chase. It's actually not a card per se, but a program that is available on Chase's Slate, Sapphire, Freedom, and Ink Visa and MasterCard credit cards. The program allows you to avoid paying interest on categories you choose as long you pay those charges off in full every month, even if you carry a balance on other purchases. So if you make a large purchase, like a refrigerator, you can pay interest on that item but avoid also running up fees on everyday purchases you make every month like on gas and eating out. Blueprint will also help you do the math to figure out how much to pay each month if you want to pay off a debt in a certain period of time.

6. Best Overall Cards

• Chase Freedom (intro rate of 0 percent for six months, then 11.99 to 22.99 percent variable; 800-940-8031)

• The PenFed Visa Platinum (intro rate of 2.99 percent for 12 months, then 13.99 percent fixed; 800-247-5626)

What is the single best card on the market? None of our experts would name a winner. "When it comes to credit cards, there's always a caveat because there are so many different rewards programs," says Lowcards.com's Hardekopf. "But if I could only carry one, I would carry the best cash back card because my wife and I pay off our entire balance each month, so using the credit card actually makes us money." Hardekopf's favorites are a toss up between two cards, both mentioned by our other experts.

The Chase Freedom card earns an unlimited 1 percent back on all purchases and 5 percent back in rotating categories, such as gas, groceries, travel, and home improvements. You can earn an additional 10 percent back when you shop online with select merchants. The sweetener: Spend $799 in the first three months you hold the card, and Chase will give you $100.

The PenFed Visa Platinum also pays generous rewards, including 5 percent back on gas purchases, 2 percent back on supermarket purchases, and 1 percent back on everything else, on up to $50,000 a year in purchases. The catch: You must be a member of the PenFed credit union. While this credit union traditionally served members of the military, employees of defense-related contractors, and their families, qualifying to join today can be as simple as donating blood to the American Red Cross or paying $20 to join the National Military Family Support Association, an association that supports our troops and their families.


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Monday, May 2, 2011

Credit Cards Range And Chart to analyze Your Status

These days there are numerous properties for sale by using affordable prices as well as low interest rates. Homes is a bit more affordable today of computer has been in decades. Taking into consideration the market, the key reason why isn’t everyone getting angry up households? The reality is, quite a few first-time house buyers are generally pouncing into the market as well as inside within this reasonably priced real estate ability. Property investors will also be rather dynamic because they see this one of a kind opportunity to assemble his or her wealth. Your unlucky reality for every individual right now is the fact while houses are definitely more affordable at this moment compared to a long time, creditors are very discriminating concerning that turns into a financial loan and who will not necessarily. Plus your credit ratings has become the major signals of if you will definately get permitted to borrow and exactly what your interest rate is going to be.
Just a couple of a long time ago your borrower that has a credit ratings under Five hundred might obtain a house. Currently this scores should be no less than 620 in order to 640. And qualify for the best interest costs you best have a credit history while in the 700′s. Regardless of the your credit history can be, you should consider that. If it’s not near to 650 you should deal with to get right now there as well as here are several simple ways to assist in improving to your credit rating.

Let us take a review of just what exactly info on our own credit profile can determine a person’s rating, then we will deliver strategies concerning how to increase around each of those people locations

35% or perhaps your credit rating will be caused by your repayment historical past which often not just consists of true repayments in your lenders, but it really consists of items like collection agencies, decision as well as income tax liens. Being mindful of this you usually desire to make guaranteed you’re making your car or truck, charge card as well as loan instalments when they’re due. Many lenders likewise require proof of local rental check historical past, so that you may wish to be sure to shell out your rent payments when they’re due as well. Anyway, the settlement is regarded as when they’re due if at all paid within just Thirty days on the due date. In case you have collection agencies, choice or perhaps taxes liens with your credit ratings, you should give facts why these have been paid out. If you’ll find delinquent series you may many times make a deal a settlement for just what’s you owe. At a credit history reviewing understanding that is just like the paying 100 % given that it can be documented seeing that happy completely within the credit file.

Also, you possibly can make a new payment layout intended for levy liens plus just after Yr receive individuals graded for the credit file that helps. Conclusions have to end up being paid out fully with the close of your personal loan, and you’ll should get that compensated as well as credit report updated in an effort to improve your credit ranking. On many occasions that has a reputation delayed installments we will have to say, time rehabs almost all acute wounds. To put it differently, it might spend 1 year approximately of producing your repayments promptly to obtain the credit worthiness you need. In case you have goods on your credit profile which can be incorrect, you may dispute those things for getting all of them repaired with the legal action.

30% of the credit rating can be attributed to the amount your debt is in your plastic card for a percentage of full credit limit. Ok, i’ll ensure that you get one example: When you have a single credit card using a $1,500 control so you owe $750 about this credit card, your own percentage of consumer credit practice is 75% whilst your out there consumer credit is actually 25%. The low the particular utilization fraction the better your credit ranking will likely be (other elements staying equivalent). You will find Three or more approaches to improve this number. You possibly can accomplish that by paying your current debit card straight down without delay. You are able to demand an increase in the charge card limit. And you may additionally throw open brand new greeting cards. The past a pair of, you have got to exercising quite a few extreme caution nonetheless. If you ask a rise in your own charge card, it is best to consult the plastic card enterprise if they can repeat this depending on the worth of one’s transaction historical past with them. Otherwise they are going to make a credit score query which may reduce your report a little bit. In my view it might in all probability certainly be really worth credit score question reduction out of your credit history for getting the credit limit elevated. In my opinion of which usually you would employ a net grow in credit score, yet we have seen instances when I’ve come across this decline at the least in the short term. Furthermore, never increase the steadiness in your plastic card once your minimize arises or you will get simply un tied the improvement, but this time you borrowed more income and have a low credit score. Also, after you available a different debit card, you get creating a number of strikes versus you which could be the credit ratings question along with the new credit history accounts. More info on payday cash in just a minute.

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Are you a newbie when it comes to having credit cards and using them? If yes, then you must have wondered at times, why people tend to use them so frequently. It is obvious that there must be some benefits involved, which make people, get in touch with credit card companies in order to issue cards for themselves. A number of benefits are being offered by credit cards, only if you know how to use them wisely. While using them, you can either benefit yourself or fall into great debt.

When used with caution, credit cards do not lead to financial crisis being created. If one sits back and thinks about the advantages that it offers, then some of the most evident ones seem to be that they offer more security. For instance, if you have a huge amount of money with you, the chances of bumping into a thief and loosing it all would be much higher. On the other hand, even if your credit card gets stolen or misplaced, you can easily get it blocked instantly, so that nobody takes undue advantage of your money.
This was some basic information about simple credit cards, while there are also some available which offer a whole lot of rewards to its users. Rewards credit cards are such that enables its user to earn numerous reward points at every occasion whenever a purchase is being made. These points can later be redeemed for various other things such as discount coupons of your favorite shop, vouchers and almost anything that you can think of.

At times the customers may not realize, but the increase in competition among different companies actually turns out to be in their favor. As each card company wants their card to be chosen over the other, they try their best to come up with the maximum number of rewards for the customers. Also, it is important for you to know how the card should be used, so that you receive the most awards.

In case you are currently looking for a rewards card for yourself, you will see that there is a great variety present out there. They are all designed keeping in mind different lifestyles, so that people can choose one which would match their own. Out of the many types, some include travel cards, air miles, and gas and cash rewards cards. Therefore, while deciding for which card to have, consider that need first which is your priority.

As the name suggests, travel rewards cards are ideal for frequent travelers. Do you stay away from your family and have to fly back home after every couple of months? You should consider getting hold of this card as all the purchases that you make from it will add to your travel points, enabling you to get free air tickets.

The card companies which offer such cards have a partnership with particular airlines; this is how they get free tickers which are sponsored. If you are quite choosy about which airline you travel with, you can choose such a card which would be working with your favorite airline.

People tend to travel more by roads than by air, which is why gas rewards credit cards can come in handier. It works the same way as other rewards cards do, and once you have had enough points to get your tank filled for free, you can enjoy the treat.

Start earning cash back on all your purchases with a cash back credit card. Or if you run a business, check out the best small business credit cards.

Sunday, May 1, 2011

Managing Credit Card Debt - Top 4 Tips....

1) Admit the problem and commit yourself to fixing it.

Many financial experts recommend that you write a statement owning up to the problem and signing it. Others suggest you call a family meeting and have an open discussion about it. This type of problem is rarely felt or solved by just one person, and the ideas and efforts of every member of the family may be needed to help you eliminate it. People often find that this open acknowledgment of a debt problem is a relief to others in their families. (And it usually comes as no surprise)

Another effective way to make a commitment toward eliminating a debt problem is to talk with a licensed credit counselor, knowledgeable friend or trusted advisor. The key here is to ASK FOR HELP! You are not the only person facing this problem, although it can sure seem like that due to the stress it causes. Talking about the problem and seeking advice from qualified professionals to develop a strategy to eliminate it is an excellent way to work toward getting things back on track. Finding other people who understand your problem can also be a huge relief if you've been shouldering this worry yourself for a long time.
2) Stop spending!

This is where the rubber really meets the road! Take your credit cards, store cards, and gas cards out of your wallet or purse, and put them in a drawer at home. Starting right now, get through an entire day without borrowing money or charging anything. Pay cash, write checks, or use a debit or atm card. You'll find that this exercise in itself cuts your spending and pushes you to make only planned purchases. Most residents are surprised at how easy it is to make the switch. After a week of eliminating unnecessary spending, you'll be ready to make an even bigger commitment. Cut up your credit cards, and cancel the overdraft feature on your checking account. This will feel like a drastic step, (and it is), but in fact, its the access to credit that's the biggest danger to you until you get your spending down to a healthy manageable level. Later on, you can ask for a new copy of one of your credit cards. What about emergencies you ask? The only emergency a credit card can usually help you with is the emergency of running out of money in your bank account.

3) Track your spending accurately

The next step is to get a clear picture of your spending habits and develop a new spending plan. You might think you already know how you spend your money. You know what your mortgage payment or rent is. You have a good idea of how much you spend on groceries. You may know how much you spend on transportation or gas. But without tracking your spending, you'll find you don't really know where all of your money is going. You need to write it down.

4) Pay down or consolidate your bills

The next step is to make a list of all the credit card payments you make each month. For each bill; The name of the creditor, bank, credit card, business, or person to whom you owe money. What you normally pay them. The total amount you owe. (exact amount from your most recent bill or statement) The annual interest rate that is applied to the balance.

Once your write this information down on a list, its easy to see how big or how small your problem is. Knowing the actual number grounds you in reality and lets you get down to the business of chipping away at bills to make them smaller and more manageable. When it comes to eliminating debt, knowledge really is power!

What if my debts are overwhelmingly large?

In this not-all-that-uncommon scenario, it may benefit you to consider rolling all (or many) of your debts into a debt consolidation loan. The major benefit here is that you are able to eliminate balances to many creditors at once. You accomplish this by borrowing against the equity in your home often at a much lower rate than you were paying. Obviously, there are a number of factors involved to consider the proper way to structure this type of situation that a licensed professional can assist you with. The caveat here is that you want to do this only one time. What you dont want to do is consolidate to eliminate credit card bills, then turn around and go on a spending spree because there are no balances on your credit cards. If you do not change your spending habits, you could end up in a much worse financial position later on down the road.

Eliminating debt is not a quick fix no matter how you look at it. But if you can address the issue with a step by step program, than you stand a much greater chance of gaining more control over your money, and ultimately, your life.

Michael Kohler is a licensed mortgage broker with Net Equity Financial Mortgage in Pennsylvania. He is also a licensed real estate agent and administrator of the Mortgage Resource Center. Please find more information on this and other related topics at http://www.netequityloans.com/DebtConsolidationvideo

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Credit and Mortgages: What First Time Home Buyers Need to Know

What Makes Up a Credit Score?
If you're looking for financing, your credit score will affect several factors including the amount you can borrow and the interest rate you will pay. That credit score will give you access to financing for a house, a car, college tuition, store credit and more. A higher score will put you in a lower risk category of borrowers. A lower score will lead to higher interest rates and fees. So it's important to understand what goes into a credit score.
On-Time Payments: 35% Paying bills on time has the biggest effect on credit scores. Late payments and judgments have a major negative impact. Recent delinquencies (in the last 2 years) carry more weight than older items. During the mortgage process, every point can affect your interest rate. Be sure to discuss any financial move, like paying off debt, with your mortgage consultant.
Capacity Used: 30% Also called a debt ratio, this is the outstanding balances on your credit lines. It marks the difference between your available credit and how much you've used. Keeping the outstanding balance below 30% of the maximum is key when considering a mortgage in the next 6 months or less.
Length of Credit History: 15% Lenders want to see a track record of credit history. A longer history of solid payments and credit makes you a stronger borrower.
Types of Credit Used: 10% Just like you want a diverse investment portfolio, a mix of credit is desirable. A mix of auto, credit cards and mortgages is better than just credit card debt.
Past Credit Applications: 10% Inquiring on your credit report often can impact your score. In the span of a year, each inquiry (up to 10) can impact your score as much as 5-to-30 points, depending on the credit reporting service. So it's good to wait on pulling credit until you're ready to act.

Credit Reports and Your Rights

Your credit report is yours, and you have the right to know what's on it. Thanks to the government, you actually have the legal right to get your credit report once a year from each of the 3 credit bureaus. That means you can actually check your credit report 3 times per year.

Stagger Reports

While you're entitled to one report from each of the credit bureaus every year, it's a good idea to space them out over the course of that year. For instance, start the year with a report from Equifax. Four months later you could check in with Experian. Wait another 4 months and check in with TransUnion for the latest on your credit history. This way you're keeping a constant watch over your credit history and the safety of your identity (This is simply an example. You can check with any of those credit bureaus in any order you'd like).

Don't Pay For It

Getting your credit report should be free. Quite often, the commercials you see and hear talk about free credit reports, but many of these actually require a fee or enrollment in order to see what's yours: your credit history. Instead, the government helped set up the website Annual Credit Report so getting your report is actually free.

It's Your History, Not Your Score

Checking with Annual Credit Report will give you your credit history. It does not give you your FICO score. If you want to find out your actual credit score, you will need to pay a service fee. However, you have an option. Talk to a trusted mortgage advisor. They should be able to explain the report and help you determine your score. It's typically part of the service a lender will offer.

I Paid My Bills. Why Did My Score Drop?

Seemingly innocent actions by a consumer can have unintended consequences on a credit score. Working with someone who has experience in the world of credit and finance can help keep your FICO score on solid footing. Even when you're working hard to keep your score up, you may inadvertently drop your score. Let's look at 4 reasons your actions could negatively impact your credit.

One Day Late. Paying a bill even one day late could get you slapped with a 30-day late notice. Creditors generally don't distinguish between one day and 30 days. Late is late in many financial company's eyes.
Paying Off Old Collections. An old collection on your credit report may not affect your credit score. Paying it off might actually bring the account "recent" and punish you with a lower credit score. While it may seem unfair, the credit scoring model puts more emphasis on your recent activity than your past. Paying off an old debt makes it look like it's new. Hold off on these until you talk to your mortgage professional.
Paying Off a "Maxed Out" Balance. If you max out a credit card, but pay it off at the end of the month, your score could still suffer. Maxing out an account adjusts your credit ratio. So even paying it off in the same month could end up showing your current status as "at the limit." This raises your debt-to-income level and lowers your credit score.
Paying Off and Closing an Account. Paying off debt is a good thing. But hold off on closing the account. Remember, there are 5 factors that go into determining your credit score. This means credit history and "types of credit" you could suffer a score drop if you close your account. After all, some of your biggest debt load could be your oldest.

Because credit is one of the most valuable tools you have at your disposal when it comes to the mortgage process, consider working closely with someone to make sure your credit score is stable and viewed as a good score. Let us know what other questions you have, and how we can help.

4 Steps to Rebuilding Credit Now

You've heard the stand-by advice that negative credit stays on your "record" for 7 years. While it is true that credit reports go back 7 years or more - public records like bankruptcy, judgments or tax liens can last up to 10 years - it doesn't mean that all is lost when it comes to rebuilding your credit. You have several options when it comes to making a positive impact over the next year. In fact it's possible that you could even qualify for a purchase or refinance in the next 6-to-12 months. Below is a look at 4 steps to get you on the road to recovery.

Monitor your credit. Get your credit report and look it over. Dispute any discrepancies. Then work with a professional to take the next step in improving your credit standing. Working with a mortgage consultant will get you started. Ask if your advisor knows a professional credit repair company they trust if you need more in-depth help on your credit history.
Use credit cards sparingly. Long-term credit cards show a good credit history (long history), which is 15% of your credit score. But use credit sparingly. Keep debt at least 30% below the limit in order to keep your debt-to-income levels manageable. Use your cards for items you can pay off at the end of the month, and make the payments on time. This can help build a strong credit history.
Open a secured credit card if you don't have one. The key to this step is secured. This means you deposit funds (often less than $500) into the account to begin with. It puts you in a low-risk category since you have skin in the game. Be sure to pay the bill on time every month, to show a stabile credit history. {Another option for some borrowers would include opening a credit account with a co-signer. Just remember, you and the co-signer are responsible for the debt. So if your partner makes bad decisions, you get punished as well. Also, "authorized user" doe not equal co-signer. Simply authorizing someone on an account in good standing has no impact on that users credit history.}
Talk to a mortgage consultant before making any debt decision. In the months leading up to signing into a mortgage, any major credit activity should stop. This includes new debt, paying off old collections or closing accounts. It's important to talk to a mortgage consultant to make sure any activity you're considering will not negatively affect your credit score.

Getting ready for a mortgage - whether it's a refinance, your first home or a "next-step" house - can take time and effort. Talking to a mortgage consultant with experience in the world of credit will help get you avoid credit mistakes.

Free credit report: Annual Credit Report

As the Multimedia Marketing & Communications Specialist at AmeriFirst Home Mortgage, Dan is responsible for creating and editing the content in the company blog. Concentrating on first time home buyers with several programs, and home improvement & renovation loans through the FHA 203k program, AmeriFirst Home Mortgage looks to bring the dream of home ownership to life in its communities.

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You've probably received junk mail proclaiming that you have been pre-approved for some type of a credit card or a loan. In these packets you'll receive glowing information about giveaway programs for those who apply, offers to transfer your balance that are hard to refuse, and super interest rates. These people are also going to play to your pride by telling you that you have been recommended for this special deal. These companies do everything they can to entice you to take their credit cards, but in the end, you could find yourself paying exorbitant hidden costs. Additionally, you may be wondering exactly what it means that you've been pre-approved and why you were chosen.
Pre-approved doesn't mean that you're actually going to be approved. Credit card companies get your name a variety of ways, such as by buying lists of names or from certain websites where you may have supplied information in the past. Therefore, this means that although they tell you you've been specially chosen, it actually means that you were on the list they bought, and you, along with thousands of others, are being offered this great deal. In reality, you'll be expected to apply for the credit just like anyone else, and the company will go through your credit history with a fine-tooth comb to make sure you're really someone they want. That's not quite as flattering as you thought, is it?

If you are employed and maintain excellent credit, you can expect to get a lot of credit card offers in the mail. Don't make the mistake at jumping for the first one you receive, because there definitely will be more coming. Companies curry favor with those who have great credit, because they are the least risk. Some of the offers you receive will probably be legitimate and may be worth investigating.

When your credit rating isn't so good, you'll still receive pre-approved offers, but they won't be as full of perks as those offered to people with great credit. You may find that after you complete the application process, they'll want to issue you a card provided you'll pay a deposit. This is done to make sure that they won't be taking a great deal of risk with you. The deposit will have to be paid before the card is activated. In addition, you aren't going to be offered the great interest rates that those with better credit will enjoy.

In a nutshell, take any mail you receive that says you've been pre-approved for something with the grain of salt. Most of these offers are nothing but unsolicited junk mail to be tossed in the trash.
Mortgage companies in the Madison, Wisconsin area are not hard to come by. Quality mortgage companies can be difficult to find. For the lowest rates and never any hidden fees, visit Easy Mortgage Company's site here: mortgage broker Janesville WI or at mortgage brokers Madison.

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Personal Bankruptcy and Credit Card Debt

One thing that is never certain is the economy. In the last few years, the economy has gone through some major changes that have made life extremely difficult for some people. The stock market has been going up and down quickly and many people have been losing a lot of money, and the job market is in a terrible predicament. The unemployment rate has not been as high as it currently is for a long time, and the housing market is basically as low as it has been in decades. All of these factors have made it difficult for people to pay their bills and many people have debt that far overshadows their income. This has led a lot of people to file for bankruptcy.
Bankruptcy is a process by which people can get rid of their debt in a settlement where they may be required to give up a portion of their assets for elimination of their debt. This process is a way for people to consolidate their debt through restructuring and paying back a portion of the debt. Some of the biggest sources of debt that people have are credit cards that they use for daily purchases, home mortgages, automobile loans, and student loans. Paying on credit is easy at first, but when you get the bill, it can be overwhelming to see what you owe.

Credit card debt is one of the most dangerous types of debt, as high credit limits combined with high interest rates can quickly get out of control. The laws that deal with credit card settlement make it easier than ever to allow you to settle your credit card debt in the process of bankruptcy.

There are many new laws that are associated with bankruptcy so it is important to get information on the process and specific laws that must be complied with. Because of these laws it may be a good idea to get someone to help you. There are many personal San Antonio bankruptcy lawyers that can help you get through this and explain both the steps that you have to take as well as the laws that you must follow.

A bankruptcy lawyer will also know what type of bankruptcy you should file for. Chapter 13 allows you to consolidate your bills and pay them back with a payment plan. Chapter 7 bankruptcy is a full discharge of the debt. After the bankruptcy proceedings are final, you get the chance for a fresh start financially. You will have the ability to gain back control of your finances and leave your credit card debt in the past.

Jeff Davis is the Owner of the Davis law firm, and a highly experienced San Antonio bankruptcy attorney. To find out more information about a San Antonio bankruptcy lawyer, please visit www.jeffdavislawfirm.com.

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