conzilla.info
5 Major Drawbacks of Bad Credit Credit Card
Author: conzilla.info, Category: Bad Credit
With a bad credit and less than perfect credit history, getting a credit card with competitive features is not that easy. In this article we take a look at the 5 major drawbacks that come with a bad credit credit card.
1. High APR
With a bad credit credit card the interest rates are reasonably higher. Forget those 0% intro APRs- they rarely come with a bad credit credit card. So, keep your credit card balances low, to stop this high APR from burning a hole in your pocket.
2. One time processing fee
Some credit card companies charge a processing fee for people with bad credit who apply for credit card. This is generally charged by credit card companies due to the credit checks, other formalities and risk involved in providing a credit card to bad credit people. If you are going for a secured bad credit credit card then this fees can be waived, otherwise it has to be paid. The catch here is that credit card companies demand upfront payment of processing fee. But, a wise credit card consumer will find a credit card company which charges the fees to the credit card not demands cash in advance.
3. High annual fee
Keeping the bad credit credit card is definitely going to cost a lot in terms of annual fees depending on the credit report it can go in hundreds of dollars per annum. Bad credit credit cards with 0 annual fees offer is very difficult to find.
4. High late payment fee
Late payment with a bad credit credit card is severely penalized. The credit card companies charge heavy late payment penalties on repayment default and are very quick in reporting the default to credit rating agencies with a bad credit credit card.
5. Lower credit limits
Since, the credit card companies face increased risk in providing credit card to bad credit people, therefore the credit limits are lower. The credit limits can be increased with secured bad credit credit card and proper repayment of credit card balances.
These 5 factors related with bad credit credit cards increase the cost of owning one. Comparing various credit card offers, especially, when you have a bad credit will help you lower the interest and fees burden of a bad credit credit card.
1. High APR
With a bad credit credit card the interest rates are reasonably higher. Forget those 0% intro APRs- they rarely come with a bad credit credit card. So, keep your credit card balances low, to stop this high APR from burning a hole in your pocket.
2. One time processing fee
Some credit card companies charge a processing fee for people with bad credit who apply for credit card. This is generally charged by credit card companies due to the credit checks, other formalities and risk involved in providing a credit card to bad credit people. If you are going for a secured bad credit credit card then this fees can be waived, otherwise it has to be paid. The catch here is that credit card companies demand upfront payment of processing fee. But, a wise credit card consumer will find a credit card company which charges the fees to the credit card not demands cash in advance.
3. High annual fee
Keeping the bad credit credit card is definitely going to cost a lot in terms of annual fees depending on the credit report it can go in hundreds of dollars per annum. Bad credit credit cards with 0 annual fees offer is very difficult to find.
4. High late payment fee
Late payment with a bad credit credit card is severely penalized. The credit card companies charge heavy late payment penalties on repayment default and are very quick in reporting the default to credit rating agencies with a bad credit credit card.
5. Lower credit limits
Since, the credit card companies face increased risk in providing credit card to bad credit people, therefore the credit limits are lower. The credit limits can be increased with secured bad credit credit card and proper repayment of credit card balances.
These 5 factors related with bad credit credit cards increase the cost of owning one. Comparing various credit card offers, especially, when you have a bad credit will help you lower the interest and fees burden of a bad credit credit card.
Duran Mueller an expert author and credit card consultant, provides great Advanta credit card tips. Read more credit card articles at his credit card website.
Can I press charges against credit card fraud culprit?
Author: conzilla.info, Category: Credit
I opened my credit card statement and discovered a $1,500 charge I didn’t make. I called the credit card company and they investigated. They found out it was someone who stole my # and charged their monthly child support with it. When they link the child with the responsible parent, can I press charges for fraud and attempted theft?
Credit Card Tips
Author: conzilla.info, Category: Personal Finance
Ever wonder why some experts recommend you to use your credit cards wisely. Below are some common sense tips that you will love to know about how credit cards work.
*Use First, Pay Later- Having a credit card allows you to purchase items first without affecting your cashflow, you are actually getting a loan from the bank. In a way, the bank pays for you first for the merchant while you pay the bank later.
If you have a large item, like a television, to purchase and know that your cashflow is tight, wait 1-2 days after your billing cycle date or statement date. Check with your credit card company, they will know. For example, your statement date 5th of June, you charge it to your credit card only on the 6th or 7th. In this way, your payment due date for that large purchase will only fall on the 29th or 30th of July, assuming 25 days grace period. That gives you almost 2 months of grace period!
*Credit Card Companies Love you- Focus only on ONE credit card, in this way, all your spending is accumulated on one credit card. Take out your wallet, pick one credit card that gives you the most benefit and destroy the rest, YES, cut them into half.
Listen, I have reasons for doing so. In this way, you can track your spending more efficiently since you have only one credit card, your credit rating by the bank will also improve. Also, in times of emergency, when you ask your bank for temporary credit limit increase, your chances of getting it will be higher as well.
*Rewards- Depends on your lifestyle, do you shop a lot or are you a frequent traveler, or you just want a credit card to purchase your daily necessities? Choose a credit card that suits you the most will let you earn your rewards points faster and you feel good knowing that you get rewarded for spending!
Don’t listen to the salesperson, he will tell you that you will need this and that, read the terms and conditions carefully and choose ONE credit card that suits you the most in terms of rewards payout.
*Card Fees- It’s an open secret that banks will waive your annual membership fees, if you are a high spender, just hint that you will stop using the card and they will grant you the waiver. Don’t threaten to close the account, that will leave a bad impression on you and your future interactions with the company will not be nice, you never know what’s recorded down by the staff managing your account. “WARNING, DIFFICULT CUSTOMER.”
*Late Charges and Interest Charges- Oh no, you overlook the statement and forgotten to pay. Be honest, do not lie, the bank has guidelines to waive your late charges and interest charges, have them to explain to you. In some cases, they will be glad to offer you solutions to aid your credit card usage.
*Always make Payment on time- At least the minimum payment if you can’t afford, this will allow your credit rating to be excellent. However, do not make only minimum payment for every month, the interest rate is high! But the company will love you for doing that. If possible, make full payment for your credit card bills every month.
Enjoy using your credit card!
JTYS
About the Author:
—————————————————————–
The Website your boss doesn’t want you to know about!
Work from home using your Computer
—————————————————————–
—————————————————————–
The Website your boss doesn’t want you to know about!
Work from home using your Computer
—————————————————————–
*Use First, Pay Later- Having a credit card allows you to purchase items first without affecting your cashflow, you are actually getting a loan from the bank. In a way, the bank pays for you first for the merchant while you pay the bank later.
If you have a large item, like a television, to purchase and know that your cashflow is tight, wait 1-2 days after your billing cycle date or statement date. Check with your credit card company, they will know. For example, your statement date 5th of June, you charge it to your credit card only on the 6th or 7th. In this way, your payment due date for that large purchase will only fall on the 29th or 30th of July, assuming 25 days grace period. That gives you almost 2 months of grace period!
*Credit Card Companies Love you- Focus only on ONE credit card, in this way, all your spending is accumulated on one credit card. Take out your wallet, pick one credit card that gives you the most benefit and destroy the rest, YES, cut them into half.
Listen, I have reasons for doing so. In this way, you can track your spending more efficiently since you have only one credit card, your credit rating by the bank will also improve. Also, in times of emergency, when you ask your bank for temporary credit limit increase, your chances of getting it will be higher as well.
*Rewards- Depends on your lifestyle, do you shop a lot or are you a frequent traveler, or you just want a credit card to purchase your daily necessities? Choose a credit card that suits you the most will let you earn your rewards points faster and you feel good knowing that you get rewarded for spending!
Don’t listen to the salesperson, he will tell you that you will need this and that, read the terms and conditions carefully and choose ONE credit card that suits you the most in terms of rewards payout.
*Card Fees- It’s an open secret that banks will waive your annual membership fees, if you are a high spender, just hint that you will stop using the card and they will grant you the waiver. Don’t threaten to close the account, that will leave a bad impression on you and your future interactions with the company will not be nice, you never know what’s recorded down by the staff managing your account. “WARNING, DIFFICULT CUSTOMER.”
*Late Charges and Interest Charges- Oh no, you overlook the statement and forgotten to pay. Be honest, do not lie, the bank has guidelines to waive your late charges and interest charges, have them to explain to you. In some cases, they will be glad to offer you solutions to aid your credit card usage.
*Always make Payment on time- At least the minimum payment if you can’t afford, this will allow your credit rating to be excellent. However, do not make only minimum payment for every month, the interest rate is high! But the company will love you for doing that. If possible, make full payment for your credit card bills every month.
Enjoy using your credit card!
JTYS
About the Author:
—————————————————————–
The Website your boss doesn’t want you to know about!
Work from home using your Computer
—————————————————————–
—————————————————————–
The Website your boss doesn’t want you to know about!
Work from home using your Computer
—————————————————————–
Article Source: http://www.articlesbase.com/credit-articles/credit-card-tips-440628.html
About the Author:
Hi, My name is Johntanyishin and I live on a small beautiful island, Singapore. I’m a currently still a student but is looking actively for passive income, both online and offline. My website, Work from Home using your Computer, is dedicated to providing Work From Home Opportunities and providing Work From Home Opportunity Reviews to help you find the right income opportunity for you regardless of where you live in the world and the level of experience that you have.
How long will it take to investigate credit card fraud?
Author: conzilla.info, Category: Credit
I have fraud charges on my chase cards, and i believe my sister is the reason behind them. Shes only 16, so i dont wanna press charges, and im HOPING that the credit card company wont really investigat it like that.
But how long will it take to investigate it, and do you really think they will pull the atm picture to see if its her. It was only 600$$
thanks alot
how long does it take to investigate credit card fraud, especially if you know who did it?
Author: conzilla.info, Category: Credit
How long does it take to get evidence from the credit card company, signatures and such, to use in a lawsuit? I know the person who did it and we just sent a letter to the company to research the signed receipts and such. How long will this take?
what percentage of credit card fraud is solved and ends up in prosecution?
Author: conzilla.info, Category: Credit
600 dollars was put on to my credit card i want to know if the credit card company would even bother going after the person concidering that it is most likely not cost effective to do so i know im not liable but i want to person apprehended so he or she is not able to do this to someone else is it likely they would be aprehended
How can I settle this credit card fraud?
Author: conzilla.info, Category: Credit
My mother received a bill stating that she owed $12,000. There were $8,000 worth that she did not make. These charges were made in a city that is 2 hours away. When she called the company they tried to pin everything on her and they are making her pay all of the money. They say there is only 1 credit card, but yet the thief is using a card because it is noted that the card was indeed scanned at the stores. So there must be a 2nd card that was somehow issued to the thief. Also there were purchases made at the VERY SAME TIME in cities that are 2 HOURS APART (which obviously doesnt make sense). Yet they are telling her that it is possible that she made those charges. There was even a charge at a gas station in which 7 different charges were made at the same time. This would show that whoever the thief is went ahead and bought gas for 7 different vehicles at the same time. This is obviously theft. How can the credit card company get away with this? What can we do??