Payday Loans

Looking For Fast Cash? Get Quick Loans With Paycheck Loans


Have you ever had a credit provider tell you that he can only give you payday loans? If you did, it was because of your bad credit history. Many financial institutions will charge you a higher interest rate because of the perceived risks associated with bad credit.


Who Should Get Payday Loans?


Payday loans, including cash advance loans and high risk loans are for individuals with credit history troubles. When they encounter financial troubles with unexpected expenses, they often have no other recourse but to take out a payday loan.


Benefits of Payday Loans


• It can help the borrower repair his credit as long as he makes the necessary payments on time and repay his loan in full.
• If he has proven that he can handle his financial responsibilities, he can get better loan terms in the future.
• Payday loans are obtained easily. In fact, even if there is no collateral involved he can still be approved for this type of loan.
• Borrowers who need fast cash can get the amount they need quickly. Be sure to read the fine print carefully and thoroughly.


Disadvantages of Payday Loans


• Companies sometimes charge high interest rates for payday loans.


• Credit establishments require strict compliance to monthly payments.


• Read the fine print. Make sure that you know the terms and conditions of any loan before signing.


Payday loans offer people with bad credit a second chance. Take time to make sure that you understand the terms and conditions of the loan. Make timely payments and you are well on your way to establishing your good credit.

Personal Loans

Personal Loans Are The Source Of Instant Cash During An Emergency

Many people have financial problems at some point or another. Usually, financial difficulties start when a person's expenses becomes greater than his income. Personal loans can help relieve the debt if they are used appropriately.

Applying for unsecured personal loans begins with learning about unsecured personal loans and secured loans.


Secured Personal Loans


Secured personal loans have a longer repayment term with lower monthly payments. When compared to the unsecured personal loan, it is more cost-effective because of lower interest rates charged. You can apply by pledging assets such as your home, your vehicle, or other assets to back the loan. Because the lender's risk is reduced, it is easier to get a secured loan.


Unsecured Personal Loans


Unsecured personal loans are the exact opposite of secured loans. In this case, collateral does not back the money that you borrowed, so the interest rate is higher. In addition, since unsecured personal loans are riskier on the part of the lender, they conduct throughout check on your credit worthiness. Unsecured personal loan is a great alternative for people who don't own any property and those who are not in a position to offer collateral.

The loan amounts range from $500 to $25,000 but lenders are usually wary of approving large amounts of money. In the case of default, the lender has no choice but to seek legal means in order to recover their investment.

Benefits of Unsecured Personal Loans

There are things to consider when getting any type of unsecured loan. These include higher interest rates. However, for some people, its advantages outweigh its downsides. For example, since there are no collateral requirements, the borrower doesn’t need to pledge his property to get approved. The shorter term promises a quicker payoff.


It is also more convenient to get these types of loans because it is unnecessary to procure your tax returns and other financial statements. Your financial background doesn't undergo the verification process by comparing it with supporting documents as well.


Bad Credit Personal Loan


What is the best alternative if you are looking for bad credit personal loans? Many borrowers are opting for unsecured loan. This is mainly because they don't need to undergo the long process of procuring the necessary documents in order to avail of the bad credit personal loan. Some borrowers opt for secured loans instead because they are attracted by lower interest rates. Applying for personal loans may seem overwhelming. Once you become familiar with your options, the task becomes much easier.

Home Loan Tips You Need to Know to Successfully Get a Mortgage

Home Loan Tips You Need to Know to Successfully Get a Mortgage

 

Whether you have good credit or bad credit, it is important not to apply for any other loans or credit cards within 6 months of your mortgage application -- with the exception of inquiries that were made in search of your new mortgage. You should also not obtain any new accounts that are reported on your credit report within a year of applying for a mortgage. Having either of these will make it harder for you to get your loan approved at the rate you want. The closer new inquiries or new accounts are to when you apply for you mortgage, the harder the process will become. This home loan tip is important because lenders, who are considering giving you a mortgage, want to know that you are completely financially stable and seeking new credit makes them question this.




Get Home Loans Even With Bad Credit

A home is a tantamount purchase that the general public hopes to make by middle age. The difficulty is that of all the purchases made in life, it is one of the biggest commitments you can undetake. The acquisition of home loans may be challenging if you have bad credit history. However, can bad credit prevent you from buying a home and acquiring a good interest rate? The response is negative.

All About Bad Credit

Many a times you might have heard the term 'bad credit' without being completely aware about it. There are other terms like adverse credit, poor credit, low credit etc which are synonymous with this. Advertisements for bad credit loans are one of the commonest places where you might come across this term. What exactly does bad credit mean? Well, for starters, credit means that you use someone else's money for your needs. Bad credit means that you are a bad creditor. If someone lends you money, you have more chances of defaulting on that payment than repaying it. But who determines whether you have bad or good credit? Credit rating agencies are the people who do it. These are companies that measure the credit worthiness or ability to pay back a loan of a person on the basis of the data provided to them by lending organizations.


Where Does it Come From?

Now that you know that bad credit is considered to be negative credit rating and most lenders will shun away from a person who has a bad credit rating, you also need to know the possible reasons for a person to have a bad credit rating. On more occasions than not, bad credit is often the result of ignorance about the adverse affects of credit. For example, there are students who get credit cards. They go on a spending spree and the result is debt. Now, there are some who promptly pay back the debt and there are some who simply stop paying after a couple of payments. The worst thing about credit cards is that you will not even realize how soon you will fall into a warp hole. The debt simply mounts and before you know you have a bad credit history.


Credit Information


The data reported by the credit agencies is extremely detailed. It contains all information about your previous credit and financial transactions. Usually it includes payment history, credit limits, recovery methods used, balance information etc. Any potential lender first navigates through this information before deciding whether you are eligible for credit or not. Based on this information every person has a credit score that is a numeral between 300 and 850 with the former being the lowest and the later the highest. Usually a credit score below 500 is considered to be bad credit. So if you are a person with a credit score below 500 then consider loans to be a distant thing for you. The other option that you have is to opt for bad credit loans.


Getting Your Credit Information

As a citizen of the United States you too are eligible to know your credit score. There are laws in place to keep the entire credit process fair and square. All that you have to do is request a copy of the credit history and you will get one free copy every year. This will help you determine whether you have bad credit owing to your bad payment habits or there is an error in the credit history. Yes, there can be errors in the credit history as well.

Bad Credit Loans and Options for People with a Poor Credit History

If you are a consumer affected by a poor credit history, you may not understand why your credit score is so low and what consequences that may have on the bad credit loan you qualify for. Everyone who has ever taken out a loan, gotten a credit card, or entered into any type of payment program for a good or service has a credit score and a credit history attached to their name.


If you have ever missed payments on these loans, stopped paying off a loan altogether, or even just have a lot of debt out in your name you may have a poor credit history. Today, there are many options for people with poor credit histories. They can still qualify for a bad credit loan and other types of financing.


Because consumers affected by bad credit can oftentimes still get loans, they might not think that a low credit score is a big deal. However, easy it is for someone with a poor credit history to get a bad credit loan there are many consequences to having a low credit score that will, ultimately cost the consumer more money. There is a high interest ramification to getting bad credit loans. This means that even though they qualified for the bad credit loan they pay a much higher interest rate for it then someone with good credit. Because their interest is higher they have to pay a higher monthly payment- all of which adds a lot on to what the item ultimately costs them.


If you have several bad credit loans with high interest ramifications, banks will become less and less likely to keep on granting you loans. Lenders will always check the interest rates you are paying on existing loans and credit cards when deciding if they will give you a loan and how much they will charge you for the loan you get.


Maintaining a good credit history will make it easier for you to get the loans you need for the items you want and it will save you money in the future. If you already have a good credit score, you can maintain it by always keeping up with your monthly payments and by being careful about your balances. Many consumers don't realize it but even if you never miss a payment on any loan you can still get bad credit by keeping high balances on your credit cards.


Experts agree that the way to keep your credit healthy is to only ever carry a balance on your cards that is 25% of your limit. This shows lenders that you use your credit sparingly and keep up on payments. If you have already damaged your credit, you can get back on track and improve your score by making payments on time and not defaulting on loans.

Why You Should Check Your Free Credit Report Often

Checking your credit report often is the single most important thing you can do to maintain financial health and live the lifestyle you want to live... If you want to buy a home, a car, a vacation house, start a business, and in some cases even when you apply for a job your personal credit report is accessed. There are many ramifications to having a good credit report. It can make it easier for you to buy a home or open a line of credit. It can also ensure that you get favorable terms on the loans you are granted.

Your credit report contains all of the information about your credit history since the first time you took out a loan or opened credit card. It shows information like what kind of credit you have, or have had, and if you made your payments on time. For credit cards, it shows how high a balance you carried on the card. Along with this credit information is a list of places where you've worked and places you've lived. Along with your credit history you get a credit score, which is sometimes called your FICO score. Credit score range from 300 to 900, with 900 being perfect credit. Having a low credit score in the 300's can automatically make you ineligible for many types of loans. Checking your credit report often is your first step to keeping your personal credit score high.


With all of the ramifications of credit report scoring, the importance of checking your credit report often cannot be stressed enough. If you check your credit before a major purchase you may find that your score is better then you thought. Having this knowledge will help you to shop around for a loan with terms that are what you want them to be- not what the creditors think will make them the most money.


On top of this, checking your credit report often is your strongest tool against the dangers of identity theft. If your identity has been stolen any lines of credit opened by the thieves will be visible on your credit report. The sooner you find these unauthorized transactions, the less damage can be done to your credit. The sooner you find suspicious activity the sooner you can freeze those accounts and stop those thieves from causing more damage under your name.


Luckily, because of the widely recognized importance of checking your credit report, the process is easier to do than ever. Federal law gives consumers the right to a free credit report once a year. Some states, and some special circumstances, grant the right to a free credit report more often than once a year. Personal credit reports can usually be accessed online in an instant from any one of, or all three of, the credit reporting bureaus; Experian, Equifax, and Trans Union.

Credit Help

Credit Help

For many people, a credit report is something akin to a mystery novel. It's a little hard to understand, and you never know how it's going to turn out if you don't read the whole thing. But you really do have the power to take the mystery out of understanding what your credit report is, how it affects your life, and what you can do to improve that all important credit score. Let's begin with some basic definitions.


Credit Report

This is a written record of your financial transactions. It details the amount of your current debt, and how well you are repaying it. It also includes a record of past debts, and how/if they were repaid. Every open account you have will be listed, as well as any record of bankruptcies, foreclosures and judgments.


Credit Score


Based on the details in your credit report, you will be given a numerical score, that reflects your level of "credit worthiness". This number is based on:


•The number and types of accounts you have open.
•How long you have held the accounts.
•How many late payments you've made, and just how late.
•Your current total accumulated debt.
•Any attempts you've made to open more accounts.

Every company you apply for credit with will examine this score, to determine how likely you are to repay them any money they advance to you. Would you like to apply for a home or auto loan? A credit card account, or home improvement loan? Your current credit score will be the biggest determining factor in whether your request is approved.


The Big 3 Credit Reporting Agencies


•Equifax, based in Atlanta, Georgia.
•Experian, based in Costa Mesa, California.
•TransUnion, based in Chicago, Illinois.




Each of these nationwide credit-reporting agencies maintains a credit report on you. Since you have no way to know which one of these agencies a potential lender will contact, you need to keep track of the info contained in all three reports.


How To Improve Your Credit Report Score


Your credit report is a living, breathing document, changing with every entry made. If your score is bad now, there are a few things you can do to improve it.


* Examine each report thoroughly to make sure there are no mistakes.


If you find a company listed with debt outstanding, but you know you've paid it and have a receipt or cancelled check to prove it, you can make a challenge to that item on your credit report. The company you are challenging has up to 90 days to respond and defend the item, or remove it from the report. You should resist the urge to make a challenge without proper documentation of your payment.


* Close old credit card accounts.


Even if you aren't actively charging on them, these old accounts that remain open still add up in your total amount of credit available. This total line of credit is compared to your income, and alerts lenders to the fact that you can become overextended any time you choose.


* Never use more than 50% of your available credit.


Potential lenders want to see that you have money left over after paying your debts. They take this as a sign of good money management skills.


* Add favorable items (tradelines) to your credit report.


You can boost your credit score by making sure that debts you are paying on time now, or in the past, are listed in your credit report. These accounts are referred to as tradelines in the industry. It is entirely possible that a company you deal well with hasn't even made a report in to one or all three of the nationwide credit reporting agencies, so it's up to you to see that the good info makes it's way into your report to counteract the bad info.


Examples of tradelines:


* Installment loans


Car loans are a good example of an installment loan. Your current car loan may already be in your report, but what about car loans past? You can add a former car loan that was appropriately repaid onto your current report, adding favorably to your overall score.


In-store accounts for items like refrigerators, washer/dryers, and jewelry that are being paid for on an installment plan should also be included on your credit report if you are making your payments according to schedule. Many of these smaller stores only report to the credit bureaus if an account is placed in collections, ask them to send in a report of your payment history to add a positive tradeline to your credit report. Make sure the creditor notifies all three credit bureaus.


* Mortgage Loans


Again, a current mortgage would likely be listed already, but if this is not your first mortgage, and you have other successful mortgages in your financial past, make sure they are listed. This all still weighs in your favor. If you have paid your mortgage on time with an individual who holds the lien to your home, you should get credit on your credit report for it. Most individuals would be fairly baffled at your request to add a manual tradeline to your credit report, simply write the three credit bureaus and ask that they account be added and give your point of contact's name and phone number for verification. The bureaus will verify the information and have it added to your credit report. Repeat this process a few times a year to keep your information current.


* Secured Loans/Secured Credit Cards


These are types of tradelines that you have secured by putting up something as collateral, such as your vehicle or home. You can obtain a secured credit card by depositing a pre-determined amount of money in an account with the individual company. You can then use that credit card to charge up to that amount and your deposit guarantees the company of being repaid, even if you miss a payment. Secured accounts are a viable way to rebuild credit after a bankruptcy, as long as you pay on time.


* Utility Accounts


Do you pay your monthly utilities in full and on time? Then try to add them to your credit report. Utilities usually only find their way onto your report if you're behind in your payments. Paying these items faithfully each month should boost your credit record, but if your local utility companies don't actively report in to the credit bureaus via a tape system the firm may decline your request to add your history to your credit report. Most will comply and the benefit of having a positive tradeline on your credit report makes it well worth the try.


While there is really no substitute for paying your debts on time each month, it's good to know that there are ways to improve your credit report. The key is knowing what's in your report, and making sure it's kept accurate.

The Pros & Cons of Credit Cards

Little did we know that a small card made of plastic would replace the hard and fast currency in our pockets? Credit cards or plastic money have become the chosen mode of payments now. Each and every wallet in the world has at least one credit card to show. It is easy to carry, convenient and now with the advent of the internet and web shopping, it has become even more important to own one. For those who do not know, a credit card is a small plastic card that can be used to make payments, purchases and even withdraw money. In a credit card, you use the money issued by the lender which then has to be repaid. An interest is levied on the payment.


Pros


You no longer have to carry a lot of currency in your wallet and fear of losing it. One small plastic card is all it takes and you can purchase whatever you wish for. You can sit at home and shop with your credit card. Online shopping is virtually impossible without a credit card. If age verification is required in certain websites, a credit card is the only way that you can verify this. Internet and online shopping are considered to be the only way shopping will happen in the years to come and a credit card is perhaps the best way for you to purchase. Pay back the money in the grace period and you do not even have to worry about interest being charged.


Cons


Most people cannot resist shopping when they have a credit card in their hands. Shopping on impulse and buying unwanted things is one of the chief problems with a credit card. As a result a lot of people end up with credit card debt and as a result of this, they end up with bad credit. If you default on payments, you will be charged late fees and the interest rates also keep mounting. Eventually the amount can inflate to a huge amount that is almost double the original amount that you borrowed. Hence it is crucial that you only spend as much as you can afford with your credit card. If you are giving your kid a credit card, make sure that you monitor his/her purchases. Having a preset credit limit for your card is also one of the better ways to use a credit card. A student or a kid with a credit card often needs credit card help from parents.


Types of Cards


There are several different types of credit cards available. From normal credit cards that serve the purpose to specialty cards like reward cards that offer you rebate points or rewards for making purchases, low interest cards for people with excellent credit ratings, student cards, cash back cards, grocery cards for housewives, gas cards etc. You can end up pretty confused with the types of cards on offer. However, it is crucial that you review each card type and only choose one that suits you the most.

Establishing Good Credit

Establishing Good Credit
Without establishing good credit it may prove very difficult to obtain financial assistance of any kind such as an auto loan or a credit card. An absence of prior credit history can lead to the same set of problems as an adverse credit history. Very often students and recently divorced or widowed women who have been operating on a joint credit with their husbands find themselves in a difficult predicament for precisely this reason.


It is quite ironic that if you do not have a good credit history you cannot avail of a credit card, on the other hand, you can not obtain credit because you have never had one. A perfect Catch 22 situation! The trick to break free from this vicious cycle lies in taking steps towards establishing good credit.


Listed below are a few tips for establishing good credit:

A) Check with your local bank or departmental store if they report the credits to the credit bureau. If they affirm, then apply for a small loan in the bank or a credit card from the local departmental store. If not, then the loan or the card may be useless for establishing good credit. It is better to opt for a loan with terms that can be satisfied without undue financial strain. Chances of getting a loan also increase with a large down payment. There are several credit cards with very low annual percentage rates. Read the fine print and be clear about the terms and conditions that apply to your account before obtaining one. Applying for a whole lot of credit cards in a short span of time may go against you since lenders may decide you incapable of meeting all the requirements. Hence choose the credit cards carefully after ascertaining that your income and other aspects qualify for the same.


B) In order to avail of a credit card without a cosigner you need to be 18 years of age or have a source of steady income. You may consider applying for a gas card which is relatively easy to avail for the purpose of establishing good credit. However care should be taken to see that the monthly installments are paid off regularly as testimony to the fact that you can pay bills responsibly.


C) In the event of a difficulty in obtaining a loan, departmental credit card or a gas card, try to get a cosigner. Then again payments need to be made scrupulously.


D) Open a checking account and a savings account. This is the means to reassuring your financial credibility among the lenders.


E) One of the golden rules to establishing good credit is not to overdraw bank accounts. Potential lenders regard bouncing checks as a reflection of the incompetent management of financial affairs.


F) Be aware of the expectations of the lenders and credit card issuers. Apart from the payment history good credit also depends on how often you change jobs and relocate. Being the owner of an apartment or a telephone number helps in establishing good credit to a certain extent.


G) Lastly, you may always avail of a secured credit card at a higher interest rate after depositing an amount. Just be certain that the company communicates with the credit bureau.

Damaged Credit and Types of Repair

In this day of multiple credit cards offers, it is very easy for one to get to the point where one's credit rating has been damaged. When this happens, steps must be immediately taken to eliminate further damage, and repair that which has already happened.


There are, however, several options that one can choose when deciding on the types of repair. The most successful, and usually most feasible, is that of credit counseling.


The services available through those institutions which are dedicated to credit counseling are almost always designed to ease the stress that someone with damaged credit is inevitably going to feel. It does no good for someone in need of credit help to be faced with even more difficulty.


For this reason, credit counseling aspects are geared with an eye towards achieving maximum credit management.


It goes without saying, however, that the best way for the consumer to avoid even having to consider types of repair one's credit history is to not allow it to happen in the first place. This can be done, and is done each and every day by thousands of people. However, those who do find themselves with credit repair issues can be assured that assistance is available.


Credit damage did not just appear out of thin air; thus, it is safe to say that credit repair will not be a spontaneous, spur-of-the-moment happening. Rather, it will take a lot of time, a tremendous amount of effort, patience (on the part of the consumer and counselor), and a strong desire to once again return to a normal financial state.


Credit counseling aspects, therefore, will not be one-size-fits-all. They will be tailored to each individual person, according to that person's situation, needs, and financial history.


This can only work if the person seeking credit counseling is totally and completely honest with those who can offer the services available. No information can be held back, nor can the person be anything but forthright, holding nothing back.


Once credit repair has been accomplished, every effort must be made to ensure that the repair is permanent. Credit counseling offers those who truly need it another chance; however, there will seldom be other opportunities to make things of this nature right again.


Even with credit counseling, and subsequent credit repair, it may take years before one's credit rating is as strong as it once was. Until such time as that occurs, one will need to weigh each and every major purchase or major expense carefully. Armed with the knowledge and help that was obtained from the credit repair process, one should have no problem with this.

Debit cards and credit cards Difference

How debit cards work

Debit cards are linked directly to your bank account. You can use them to buy goods or withdraw cash and the amount is taken from your account right away.
You can also use debit cards to get 'cashback' from shops when you buy goods and also ask for money back from the cashier, although not all shops offer this. The total amount is deducted from your account right away.
When using a cash machine or paying for goods with a debit card you'll need to enter your PIN (personal identity number). When buying goods you usually enter it into an electronic hand held device, but in some cases you may have to sign.
Most bank accounts offer debit cards. Most debit cards double up as 'cheque guarantee cards', guaranteeing that your cheque will be honoured by your bank up to a stated amount.

What happens if there's not enough money in your account?

This will depend on the type of debit card you have:

• if you have a ‘Solo’ or ‘Electron’ debit card the balance in your account is checked before each transaction – if there’s not enough money you won’t be able pay or withdraw cash with the debit card without prior agreement
• if you have ‘Switch’, ‘Visa’ or ‘Delta’ card your account balance won’t necessarily be checked and the payment may still go through

If you go overdrawn the charges you’ll pay will depend on whether or not you have an authorised overdraft arrangement with your bank. If you do, you’ll pay the agreed amount of interest at the end of each month. This is usually much lower than interest charged on credit cards.
If you don’t have an overdraft agreement, or you exceed the agreed limit, your bank may allow the payment to go through but you’ll usually pay much higher fees than if you had an agreed overdraft.

Using a debt card over the phone or internet

Debit cards can be used to make payments by phone or over the internet. In this case you'll need to provide certain details that are printed on your card. Find out more and view an example debit card on the Financial Services Authority (FSA) website.

How credit cards work

A credit card is a form of borrowing. Firms lending money to customers must be licensed by the Office of Fair Trading (OFT) under The Consumer Credit Act 1974. The Act requires certain credit and hire agreements to be set out in a particular way and to contain relevant information for the person borrowing.
Credit cards allow you to 'buy goods now and pay later' - called 'buying on credit'. They aren't linked to your bank account. Like debit cards, they can be used to buy goods in shops over the telephone and internet, with the same details being required. You can also get a 'cash advance' by drawing money at bank cash machines.
Your bank may offer you a credit card, or you can apply for one to any institution offering one. The credit card provider will normally run checks to see if you've had problems repaying debts before offering you one (called a 'credit check').

The risks of using a credit card

Think carefully before using a credit card. If you don't repay your bill in full by the date shown you're charged interest on the whole amount of the bill for that month. The rates of interest - indicated by the APR (annual percentage rate) - can be very high indeed.

If you take cash out with a credit card you're charged daily interest from the moment you take out the cash until the credit card bill is paid in full. This is an expensive way of borrowing money.

Some credit cards also charge you an annual fee simply for having the card

What happens to credit card debt after death

What happens to credit card debt after death

You can't take it with you, but do credit card bills follow you into the grave? Does that debt die with you? Or can it come back to haunt those left behind?
There's no one-size-fits-all answer. A number of factors, including where you live and who applied for the card, can radically alter the situation.
Here's the simple part: If the card was yours alone, with no joint account holders, the debt is yours alone, too.

When you die, your estate is responsible for paying off the balance. If the estate goes through probate, your administrator or executor will look at your assets and debts and, guided by law, determine in what order bills should be paid. Remaining assets will be distributed to heirs by following your will (if you have one), or state law (if you don't).

Sometimes, the credit card company loses
If the assets don't cover the bills? "If there isn't enough money, credit card companies would have to, as my students say, 'suck it up,' " says Doug Rendleman, law professor at Washington and Lee University.
Creditors are notified that the estate is insolvent. They write off the bills, and often that's the end of it. Children, friends, or relatives can't inherit debt. A card company can't legally force someone else to pay.
If there is enough money, the Credit CARD Act of 2009 requires the executor of an estate to be informed of the amount quickly, and requires credit card issuers to stop tacking on fees and penalties during the time the estate is being settled. That portion of the law went into effect in February 2010.
One situation in which someone else could end up shouldering your credit bill: If you share the account. If a spouse, family member, or business partner signed the card application as a co-signer (joint account holder), then that person could be liable for the balance on that card, along with (or instead of) the estate.
If that second cardholder is merely an authorized user (didn't sign the application, isn't liable for bills, and merely has charging privileges), then he or she isn't responsible.

Community property states The question of who can inherit debt "gets a little more complicated in community property states," says Michael R. Kerr, legal counsel and legislative director for the Uniform Law Commission, which drafts the Uniform Commerical Code and the Uniform Probate Code. Generally, assets accumulated during a marriage are considered joint property in community property states. But, in some cases, so are debts.
States that employ community property laws: Alaska, Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington, and Wisconsin. Not all community property states play by the same rules. "All states have variations," says Rendleman.
So if your husband or wife has a separate card account and runs up debt, at death "it's possible that debt could pass to the spouse," says Kerr. But it isn't always cut and dried.  "I think there is case law going either way," he says.
Bottom line: In community property states, "you have to ask more questions," says Kerr.

What about the assets?Not all assets go through probate. Some items, such as IRAs, 401(k)s, brokerage accounts, and insurance, typically pass to whomever you've named as a beneficiary, which is one good reason to keep those designations up to date. In many cases, those assets aren't considered part of the estate.
Since these assets don't go through probate, the executor can't use them to pay estate bills. So can the credit card company go after the person who inherits?
With employer-based pension plan accounts, such as 401(k)s, the answer is no, says Bruce Wolk, co-author of "Pension and Employee Benefit Law" and law professor at the University of California-Davis. Since the plans are protected by federal law, that won't vary by state.
Insurance also usually passes outside the estate, and in most cases it's also safe from creditors, says John H. Langbein, Wolk's co-author and professor of trust law at Yale Law School. With IRAs, "it's a state-by-state question," Wolk says. "Although many states exempt IRAs from that kind of claim." Likewise, with other assets, such as a brokerage account or bank account, the answer may vary from state to state.
Many states allow a house to pass from one spouse to another after a death without letting creditors intervene; many have laws that protect the family home from creditors.
The question can get more complicated if the house is in just one name, or if it's passing to a child, other family member or friend. If the home becomes an issue (or you're just worried that it could), talk with an attorney to find out exactly what a creditor can and can't do.

Credit Cards Application

Facts about Instant Credit Card Applications
 



What does an instant credit card application mean? Several credit card companies offering online and offline credit card services state that they are the sole providers of the best credit card catering to your needs. Some even go as far as to state approval of your request the instant credit card application form is submitted. This leads to feeling among the customers that it is possible to download a copy of the card and start purchasing on it right after submitting the application form. Not true! Many credit card companies do accept what they refer to as instant credit card application but the approval itself can take a few minutes. Some companies take one to several weeks for approval.

Online Credit Card Applications: A Blessing or a Curse
The Internet has changed so many aspects of our lives. Many of us today can do so much more through our computers and the World Wide Web then we would have ever dreamed of 10-15 years ago. Today, we can study, shop and work right from the comfort of our own homes. All we need is a computer with a high speed Internet connection. This futuristic Phenomenon has now broken through to the world of personal finance.

Free Credit Card Applications
It seems that hardly a minute goes by, where there aren't some kinds of advertisement boasting about all of the great advantages of free credit card applications. Either there is no fee for processing the application or, there is no interest on the credit card once you receive it. Banks learned that quite early on, a great advertising technique is to state that something is free. People come in droves when they think that they are getting something for nothing. In this article we will look at the truth behind some of these schemes and look at just how free these all are.

Credit Card Application Rejection

If you have never had severe credit problems, such as charge-offs or collections, then you may expect to get approved anytime you complete a credit card application. However, the truth is that your credit card application can be rejected for many reasons, even some that seem trivial. Everything you do is under the microscope when you apply for credit, not just severe credit problems. Below are some of the most frequent credit card application rejections, that have nothing to do with bad credit.

Using an Online Credit Card Application Vs. Applying In-Store
The first thing to take into consideration, before filling out an online credit card application, is whether you are applying for a bank credit card (Visa/MasterCard/American Express/Discover) or a store credit card (one that only can be used in a particular store).

Why Applying For Credit Cards Can Keep You From Getting Credit
Applying for a credit card is a seemingly minor thing that can haunt individuals for up to 24 months, (25 months when dealing with the credit reporting agency Experian). Why? Because each time a credit card application is completed and submitted, at least one inquiry is added to a person's credit report by the bank issuing the credit card. Inquires are requests for a personal credit report, which is also recorded on individual credit reports. There are two types of inquiries: 'hard' inquiries and 'soft' inquires.






Credit Card Application Denials: How They Can Happen to You

Many people falsely believe that the only people who are denied after a credit card application, are those who do not pay their bills. This is a falsehood maintained by those who have never had the unfortunate displeasure of dealing with a credit card application rejection. What they don't know is that it can happen to them. One day they may walk into a store, be offered an extension of credit by the cashier, and leave red-faced and embarrassed when that credit card application is denied. What can cause this to happen? There are many factors that go into determining who is or is not a credit risk during the review of a credit card application -- and these factors include more than just severely delinquent accounts. Anyone, good credit or not, can have their credit card application denied for any of the following reasons.

Unsecured Credit Cards

Unsecured Credit Cards: A Smart Way To Move Ahead

Secured and unsecured credit cards work the same way; both can be used to pay for goods and services. However, secured credit cards require you to open and maintain a savings account as security for your line of credit whereas an unsecured card does not. You will find out that most of the offers are for unsecured credit cards. These are usually the best credit cards, since they come with fewer restrictions than secured credit cards. If you have had a lot of credit troubles in the past it may be difficult for you to obtain unsecured credit cards. However, if you have bad credit, there is nothing wrong with going for a secured credit card.

How To Make Use Of Your Unsecured Credit Cards
If you have held credit cards before, you may be familiar with the terminology involved with them, such as secured, unsecured, limit and debt. Whether you have or have not held credit cards before it is a reasonable and wise idea to do your research before-hand and be certain about which type of credit cards are right for you and your needs. There are so many different offers out there that it may take some time to sort through the varying promotions, interest rates, terms and conditions, etc., but it will be worth it in the end to know that you have chosen the right card.

Secured Credit Cards

Secured Credit Cards Might Be Your Best Financial Decision

A series of misfortunes can cause serious damage to your credit score and credit history for which secured credit cards make a good option to restore your credit history, in addition to having a credit card in hand. Secured credit cards work directly in contrast to conventional credit cards, in terms of your billing.

Secured Credit Cards: Get Your Credit History Back On Financial Track

With secured credit cards you would essentially pay your credit card bill, before you make your purchases. Similarly to debit card, you would pay the credit card company a set amount of money, and then that amount will be your credit limit. Secured credit cards obviously aren't for everyone, and if you have good credit there is no need for you to look into getting a secured credit card.

Secured Credit Cards For People With Shaky Financial Situations
Secured credit cards can't get you into financial crunch or lead to credit problems, which is probably why you need a secured credit card in the first place. Since you aren't borrowing any money, you can't get into debt. Many lenders now offer secured Mastercard and/or Visa cards. These credit cards work exactly like regular credit cards. In fact, neither you nor the store will be able to tell you're using secured credit cards simply by looking at it.




Secured Credit Cards Help You to Improve Your Credit History
Credit card help is a term that is associated with the debts that one accrues with credit cards. Credit card help is required in case there is some default made by a person on the credit cards that he/she possesses. If you are one of those who have bad credit, or no credit and wish to build, re-build, and improve your credit history; then secured credit card help is what you should opt for.




Establishing Credit Rating With Secured Credit Cards
For those of you who haven't heard of secured credit cards, they are the credit cards that serve those who need to establish their credit records. A secured credit card can prove fruitful if you wish to re-establish your credit record, which has been spoilt because of flaws in handling your credit. When you go in for secured credit cards, you are required to provide a security deposit as a guarantee of payment.


How To Avoid The Secured Credit Card Scam
If this has caught your attention, it's likely that you have a poor credit history or none at all. Beware of deceptive advertising promises of secured credit cards, whose marketers will try anything to get a response from you. Otherwise, secured credit cards are effective in building or reestablishing your credit history. Provided periodic reporting to the credit bureau is ensured, secured credit cards can be a big help in re-establishing a creditor's confidence in a prospective borrower.

Prepaid Credit Card

Get Help From A Prepaid Credit Card
If you've damaged your credit history and the banks and other financial institutes have turned you down from sanctioning you loan, you may look for credit card help. Credit card help can be got by availing prepaid credit cards. With prepaid credit cards, you can enjoy convenience and security over cash, and you can also try to rebuild your credit history.




Prepaid Credit Cards: Just What You Need to Rebuild Your Credit
Prepaid credit cards are an alternative to regular credit cards. In fact, a prepaid credit card is more beneficial for you because the amount of credit that you would get is determined earlier. With prepaid credit cards you can expect a check on your spending, as you already know about the amount.




Prepaid Credit Card After Filing Bankruptcy
A credit card has become a necessity in modern society. Life without credit card is unthinkable for many people, especially those facing bankruptcy. For the latter getting a credit card becomes too difficult a possession due to bad credit. Worse, even if they get one, it may be expensive than before, and available with lower limits.






Do You Need Prepaid Credit Cards
Today we live in a credit-based society where life without a major credit card life's tough. Whether renting a car or purchasing online, credit cards do the talking. For those with bad credit, they can be very difficult to get. The solution for them is prepaid credit cards.

Important Things You Should Know About Credit Cards

Card for Corporate: Blank Plastic Cards In today's day it is more common to see people transacting business with the use of plastic cards than cash. Companies now use blank plastic cards for various applications. In fact a growing number of companies have their own Visa cards. Companies that manufacture plastic cards can customize the features of credit cards and debit cards with your logo and other information. Now you can make gift cards, identification cards, and prepaid phone cards to help promote your business.

Capital Credit Cards
Sometimes going in for credit cards that do not have high interest rates can be a boon in disguise for you. Similar is the case with Capital credit cards. Capital credit cards are the cards that help in saving your money instead of overspending it. The interest rates of the Capital credit cards are also very low as compared to other credit cards.


Can You Meet The Monthly Payments Of Credit Cards?
If used prudently there's nothing evil about credit cards. A credit card needs to be judged on the basis of your needs as American consumers are increasingly paying the price for carelessness of credit cards with debt trap. On an average a credit card holder currently possesses four credit cards and nearly $4,000 in high interest debt. Therefore you need to seriously consider if another credit card can be accommodated in your budget. Consumers should also be cautious in determining whether the interest rate is affordable or astronomical.




Business Credit Cards: A Great Way To Start Your Business
Business credit cards, corporate credit cards--there are credit cards for all your needs. And now, there are credit cards that are specially designed to meet your business needs. In fact, business credit cards can become the best way for you to start your business. Just like there are credit cards for individuals, similarly, there are credit cards for the organization, or business that you run.

Beware! Online Shopping With Credit Cards Is Dangerous
Going for a shopping spree with your credit cards? It's fine till the time you stick to the fabrics of the building of your favorite shopping malls. But this time, you've changed your mind. You are going for online shopping with your credit cards, that too, for the first time. Wait! Don't rush to your computer until you read this.




Beware Of Hidden Fees Associated With Credit Cards!
For those of us who know how to use them properly, credit cards can actually be quite fun and lucrative. Using your credit cards while traveling overseas may get you the best exchange rate. But travelers must watch which credit card they use while traveling. Some credit cards end up charging unaware travelers up to 7% for transactions overseas.




Benefit By Credit Cards And Other Financial Options
You are in need of additional finance in terms of credit cards. You make your way in the scorching heat to reach the bank and spend hours justifying your case to the bank manager with hopes of convincing him. Stop! Gone are the days of pleading and pursuing your lender! With the Internet and credit cards entering the scene, the finance industry has been swirled by a wave of change.

Are You A Credit Card Addict?
Do you often use your credit cards for impulsive shopping? If yes, then you are under the danger of getting hit by a huge wave of debt accumulation. If used in an emergency, credit cards can be a blessing to the person who needs quick money. But when used daintily, they can ruin your finances and drown you in an ocean of debts.




Are Credit Cards Thinning Your Wallet?
Credit cards are not pure evil, provided you use them prudently. You must judge a credit card as per your needs, as more and more American consumers are getting into debt trap because of careless use of credit cards. Currently, an average credit card holder has four credit cards and about $4,000 in high-interest debt. So you need to think judiciously whether a particular credit card is just right for your wallet; or is that credit card thinning your wallet? Also, as a cautious consumer you should evaluate whether interest rate charged is an economical or exorbitant proposition.




Accept the Challenge: Get Your Own Credit Card
Credit cards and more credit cards: that is the buzzword these days. More and more people are realizing the importance of credit cards in their lives and have started preferring them to cash. Plastic money is the new way of spending on your daily needs. World-over, people of all the generations have realized the importance of plastic money and feel safer about the transactions.




Credit Cards: How Much You Know Them
The world is enthralled by their presence and the people are addicted! All over the world the phenomena of credit cards emerged as a rescue for all those who were surrounded with heavy debts. Later on the credit cards were transformed into a status symbol, and a way to break free from the monotonous world of finances. The process of emancipation began when the consumers thought the credit cards to be the most productive substance, which can shower them with the desired products and services at the time they are not in the possession of money. But little less was known about the unnecessary debts, which comes along with the credit cards.

Credit Cards Resources 3

Credit Cards: New Money For The New Generation
Even those who have long denied the necessity of credit cards must now accept that they have become a crutch in today's society. Credit cards are everywhere. Many people cringe at the thought of using a piece of plastic to pay for things. Others worry about getting into too much debt if they get credit cards. Despite the negative opinions, the bottom line is that society as whole has come to accept, nay embrace, credit cards.

Credit Cards: Middle Class Users Could Regret Their Trust On Zero Percent Transfer Deals
Credit cards debt is a universal affliction of the modern age. But when borrowings mount and the repayment demands become more urgent, the way to appease your creditors might be through costly loan consolidation schemes. The choice is even more limited for people with a low income and poor credit history. So, you might find yourself forced to apply for one of those costly loan consolidation schemes, advertised on TV. But there is an alternative in the form of zero percent rate credit cards.




Credit Cards: How Much You Know Them
The world is enthralled by their presence and the people are addicted! All over the world the phenomena of credit cards emerged as a rescue for all those who were surrounded with heavy debts. Later on the credit cards were transformed into a status symbol, and a way to break free from the monotonous world of finances. The process of emancipation began when the consumers thought the credit cards to be the most productive substance, which can shower them with the desired products and services at the time they are not in the possession of money. But little less was known about the unnecessary debts, which comes along with the credit cards.

Credit Cards: Be Aware Of The Other Side Of The Picture
Credit cards are a type of unsecured credit with a line of credit from the issuer hiding a variety of surprises in the fine print. This is the most common type of credit. With a perfect credit rating, you're likely to attract a rash of offers for new credit cards. Usually without any annual fee, they may offer reasonable interest rates (where credit cards are concerned), a grace period of one month and exciting initial offers like 6 months without interest on balance transfers and new purchases.

Credit Cards: A Boon or a Curse?
Until a few years ago, credit cards were a major hit with people. Just swipe in your credit card and you'll get all that you want in a jiffy! This easy- to-carry form of cash could get you just about anything and everything. The 70s and the 80s showed a massive boom in the use of credit cards. A survey showed that, credit card owners ended up shelling out more bucks. This form of fast and easy cash turned people into compulsive shoppers. Financial discipline became an alien concept. It was quite a task for people to keep track of their dwindling credits. With such extravagance and frivolous spending habits, they soon found themselves eye-deep in debt.




Credit Cards Your Plastic Friends
Credit cards are convenient when you don't have cash and need to pay for something. They're especially useful during emergencies. Credit cards are not only sources of urgent cash; they have many other uses as well. But, to use them without thinking about the consequences could lead to financial ruin. There are some things that every credit card user should know.




Credit Cards Interest Rates: Is Your Fixed Rate Really Fixed?
Anne and her husband were holders of Visa Platinum credit cards with a fixed 5.9% interest rate. Their account was recently sold to another credit card company and they have been informed that their rate is now variable, meaning they could be paying as much as 18% and that includes their balance transfer which were purchases made with the understanding it was at the lower interest rate. Is this legal? She is currently shopping around for another credit cards with a comparable interest rate.




Credit Cards Can Be Detrimental to Students' Financial Future
Seventy-eight percent of undergraduate students nationwide have a credit history and have credit cards while they are in college. According to a survey, these students have an average credit card debt of $2,748. For instance: Angelina Dixon is close to fitting into that category. All of her three major credit cards are close to the limit. Even though Dixon's parents help her out sometimes financially and she received a scholarship to come to university, the freshman applied for two of the credit cards since she has been at college.




Credit Cards Becoming Popular Among Teenagers

Nowadays the average age of the credit cards generation is getting lower. In a recent poll conducted for teenagers, it was found that more than 11 percent were carrying credit cards, some of them were even as young as 13 or 14 years. In addition, the poll found out that three out of 10 teenagers have checking accounts, and it's likely that many of these checking accounts are linked to automated teller machines, with debit cards.




Credit Cards A Favorite Way To Pay
Cases of people drowning in credit card debt by using all their credit cards and affording nothing more than the minimum monthly payments are all too common. High interest payments can trap consumers in debt for years apart from the huge income loss owing to the finance charges on their families. Unfortunately too many Americans have to live with this fact especially since certain amount of financial discipline can help avoid this situation. Developing and sticking to a spending plan can make credit cards a lot less dangerous than other forms of payments.




Credit Card Scam: It Happens All Too Often
Credit card fraud happens every day. It is amazingly easy to open a credit card in someone else's name. Think it can't happen to you? All the information needed to open an account in your name is floating around on the internet right now! Before I relate my story, I urge you to pull your credit report if you haven't done so in the last 6 months. Don't hesitate to take help from credit card help service if required. In my case, I was lucky as I knew who had impersonated me, opening an account in my name without my knowledge. But it wasn't all luck; I acted promptly on the advice of a credit card help company as well.




Credit Card Processing: How Does It Work
Credit cards are often considered to be the most important amongst all financial tools, which can provide you with all the luxuries of life just by a swipe. Credit cards prove to be good alternatives to loans, and are handy in comparison with the heavy cash amounts.




Credit Card Frauds: It's Time To Be Aware
A lot has been said and less done about identity thefts. The phenomenon is taking the whole world in its grips day by day. Credit card fraud has become so very common nowadays that the mention of it doesn't take any one of us by surprise. Though, not many people have experienced a similar strife, but it is not beyond the imagination what the circumstances can turn out to be, in case of a credit card fraud.


Credit Card Fraud Is On The Rise
Identity theft and credit cards fraud are the fastest growing white-collar crimes in the United States. While anyone can be a victim of these crimes, members of the Navy, Marine Corps and the other branches of the armed forces are more susceptible than the general populace. Two major contributing factors in the increase of credit cards fraud are the rise in online credit applications over the Internet and the tremendous proliferation of credit cards.




Credit Card Blocking: Problem to your Business?
Your credit card has always emerged as a problem solver. Credit cards serve you with everything: From renting a car, to paying for your hotel or motel bills, credit card and its services always makes you feel happy and content. But there could be instances when these credit cards can spoil your happiness. Credit card blocking is one such situation that can leave you absolutely clueless.


Convenient Alternatives To Credit Cards
Credit cards are a convenience for those who have money. Credit cards are beneficial as well as blight to everyday consumers. The best advantage of owing a credit card is that you always have a way of paying for something in an emergency. By using credit cards, you can make hotel reservations, online purchases, and you can also build a good credit standing that can help you in getting further credit such as car loans, or a mortgage.




Convenience With Credit Cards
Credit cards are considered to be the best tools that help you in making purchases without your having to spend anything out of the money you earn at the time you make your purchase. They also make a good deal by postponing the payments that you make on your purchases. In this way you earn more interest on the money you earn. Let us take an example in this regard, if you earn an interest rate of 7% on your savings, then you can keep them intact in your accounts and just pay through your credit cards. By trying this out you will end up with a lot of interest saved up on your savings at the end of the year.




Control Your Expenses While Using Credit Cards
Use of credit cards is at an all time high. If you want to buy a wall hanging plasma TV, or a new dining set, but don't have ready cash, then credit cards are the best option. Almost everyone holds a credit card; most of the people possess several credit cards and they are making extensive use of these. But these plastic cards are not as good as you may think. If you use them as a source of emergency funds, no doubt, they can be the biggest and quickly accessible financial help available. But if you use them frivolously, it could be the best way to do something stupid like burning a big hole in your pocket.


Combating Credit Card Frauds
Nowadays more and more banks offer the facility of credit cards or check cards. Generally issued by MasterCard or Visa, these cards resemble credit cards both in appearance and usage. However there are two major differences. The first is the more obvious one of the money for debit card purchases being taken straight out of your checking account. Thus you are not in debt like you are with credit cards. The second difference is a lot less obvious but also a lot more dangerous.


Choose A Credit Card That Suits You
Life has become very easy with credit cards. All that you need to do is to pull out your wallet or purse, take out your credit cards, and swipe them at the terminal to make your payments. The procedure is that simple. The only problem that one faces is the problem with the choosing the credit cards that suit you the best.




Chip-Equipped Cards: The Future Of Credit Cards
If your signature betrays you every time you go out shopping, then you can stop worrying now. Credit cards equipped with electronic chips have arrived to your rescue. These cards require a PIN number, not your signature, to confirm the transaction.