So what is the benefit of a debt consolidation service? Some debt relief companies provide free assistance and are non-profit organizations that simply offer their professional advice to deal with your debts.
One drawback of the program of debt negotiation is it impacts your credit score negatively for as long as you use this service. This way, you get more time managing your debts and finances and the overall amount you pay monthly is much less than the entire debt you used to pay to different individual creditors. It ensures that you do not fall prey to the lure of the subscription again. These loans make borrowers feel comfortable while dealing with their money problems.
A program of debt consolidation can be a lifeline for those drowning in debt. Read full post…
03 Jul
Posted by Marcus Lovegrove as Credit Report
Discover has doubled their Restaurant.com bonus from $75 to $150!
So if you like to eat out, you can get a $150 Restaurant.com gift certificate after just one purchase with the Discover® Open Road credit card (made within six months of account approval).
The Discover® Open Road Card also comes with 0% APR on both purchases and credit card balance transfers for a full 12 months.
There is a balance transfer fee of 4%, which can be offset entirely with the $150 Restaurant.com gift certificate.
For example:
In this scenario, you’d walk away with $30 to the good, making it a quasi-no fee balance transfer credit card, assuming you like to eat out at restaurants.
Either way, you certainly shouldn’t be carrying a credit card balance if the credit card APR is that high, since you’ll be paying credit card finance charges through the nose.
Earn Cash Back Too!
The Discover® Open Road Card also allows you to earn a full 2% cash back on your first $250 in combined gas and restaurant purchases each billing period.
Additionally, earn 1% unlimited cash back on all other purchases after your total annual purchases exceed $3,000.
Before then, you get .25% cash back.
If this cash back rewards credit card interests you, apply here.
If you’re currently paying astronomical credit card finance charges, which is pretty much a given if you’re carrying a credit card balance without a promotional introductory rate, you may want to consider a credit card balance transfer.
Most credit card balance transfers come with 0% APR for a certain period of time, whether it be as short as six months or as long as 21 months.
Picking a 0% APR credit card based on the length of the 0% promotional credit card APR is very important, especially if you’ve got a sizable credit card balance that’s going to take some time to pay down.
Why go with a credit card that only offers 0% APR for 12 months when you can get a credit card that offers 0% APR for 21 months?
Let’s look at a 0% APR credit card example:
If you continued to carry a $2,500 credit card balance, you’d be hit with roughly $44 in interest charges each month, which is more than $500 annually. Why subject
There is an urgent need of capital in every corner of the world. Some require money for businesses while many for some other urgent needs. In any situation, the loans are considered as the ultimate solution. In this context, the people of Pensacola have a special advantage with them. The Pensacola Title Loans allow its people to take the advantage of their car for getting money in crucial situations. It helps them in many ways at all difficult turns of their life.
The Pensacola title loans are very easy to get, and take a few minutes only. These become the saviour when people do not find any other option. These serve as a quick and easy solution to the people’s cash problems. These can be called as the fastest mean of getting loan.
A lot of people in Pensacola own cars. Read full post…
23 Jun
Posted by Marcus Lovegrove as Credit Report
A new study from credit analytics company SubscriberWise revealed that less than two tenths of one percent of the scorable population achieved the highest possible Fico score.
So just who are these consumers with 850 Fico scores anyways?
Well, the company found that the median age of these credit-elites was 61, having a birth year all the way back in 1950.
The oldest person to achieve credit score-perfection was born in 1922, while the youngest was born in 1967.
In other words, it takes a while to achieve a perfect credit score, even if you’re doing everything right.
This probably has to due with the fact that credit scoring takes into account the length of a consumer’s credit history, including the age of their oldest account on their credit report, whether it’s opened or closed.
So you really need to build your credit history early on to ensure you have excellent credit in the future.
Simply paying bills on time, keeping balances low, and applying for new credit sparingly won’t be enough for that perfection you seek.
Some gray hairs also seem to be a necessity…
For the record, the SubscriberWise study was based on data from a quarter of a million credit reports, so it seems pretty thorough.
Credit card Q&A: “What is credit card APR?”
If you’ve seen an ad for a credit card lately, or looked at the terms of your existing credit card, you’ve probably stumbled upon the acronym “APR.”
APR stands for Annual Percentage Rate, and is the method most credit card issuers use to express your interest rate.
Most (if not all) issuers calculate your interest charges by using the average daily balance, now that two-cycle billing has been outlawed.
You can get a rough idea as to what you’ll pay in monthly credit card interest (finance charges) by multiplying your APR by your balance, and dividing it by 12.
Example:
So if you carried a steady $2,000 credit card balance, you’d pay roughly $33 a month, or $400 annually.
Of course, this is simple math, and doesn’t take into account compounding interest, your average daily balance, your minimum payment, and so forth, but it should give you a general idea of how credit card APR is calculated.
Credit Card APR Based on Creditworthiness
So how do credit card issuers come up with your APR anyways? Well, like any ot