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Category: Credit Cards

  • How To Get a Credit Card With No Credit, Zero History

    By Rick

    Credit cards have become a way of life that you need to do the most basic of things like renting a car or reserving a hotel room. The challenge for many people without a credit history is securing their first card so they can establish themselves as credit-worthy for other cards. If you want to know how to get a credit card with no credit, there are few things you’ll need to know about the way credit cards are issued.

    Click here to compare credit card offers, including cards for no credit

    No Credit = Bad Credit

    The challenge for most card issuers is that the lack of a credit history is an unknown that they are not normally willing to gamble on in today’s economy. As strange as it sounds, a person with bad credit is a better risk than a blank credit slate to these banks. The first thing you’ll need to do when trying to get a card is establish any credit history you can to start building a credit file. Understanding how to get a credit card with no credit begins with applying for easy credit wherever you can find it.

    Store Credit Cards Are a Great Place to Start

    Most larger department and home improvement stores offer their own credit cards that can be used to buy things they sell. These credit cards are somewhat limited since they need to be used in the store that issued them but do provide a way for you to start establishing your credit history. These cards are also easier to qualify for than a traditional credit card and if you have a steady job and a mailing address you can usually qualify for a store card. The credit limits on these cards might initially be very low but you’re only applying for the card to build a credit history you can use to qualify for more traditional cards later. Once you have been issued one of these cards, use it often and be sure to pay off the credit balance each month in full if possible.

    Travel Related Cards Are another Option

    Most airlines and hotel chains offer their own branded cards and tend to be more liberal in their qualifications. They hope that by issuing you their card and rewarding you with bonus points with their brand for using the card they will instill a sense of loyalty with their company. When trying to figure out how to get a credit card with no credit, these cards are a great place to try. Most of these companies run promotions at certain times of the year and will qualify almost anyone during this period. Look for these promotions on their website and the next time you’re in the airport.

    Apply For At Least One Secured Card

    One last place to consider when searching for answers on how to get a credit card with no credit are the secured cards issued by many banks and traditional credit card companies. These cards are technically debit cards since they require you to have a balance of funds on deposit for any purchases you make but can still help to build your credit history. Obtaining one of these cards is easy since every purchase you make is backed by your own money and presents little risk to the lender of default. Using this secured card for a few months will start to expand your credit history file and eventually allow you to apply for a more traditional card. So the next time you’re wondering how to get a credit card with no credit, give any of these suggestions a try and you should be well on your way to finding the credit you need.

    Click here to compare credit card offers, including cards for no credit

  • Do You Need A Job To Get A Credit Card?

    By Rick

    People entering the credit scene for the first time often wonder “do you need a job to get a credit card?” and the simple answer is that being employed makes it easier. There are a few ways to secure a credit card without a job but the card you’ll receive may come with a few conditions. Most lenders need to know you have the ability to pay back any credit they issue you though the card and if you can’t prove that you have a steady income, it may be enough for them to deny you a card. Even still, there are a few things you can do to secure a credit card without having a job.

    Click here to compare 0% APR credit card offers, including credit cards for those with and without a job. Free comparison tools and reviews.

    Check with your bank first

    Your local bank is a great place to answer the question “do you need a job to get a credit card?” If you have been banking with them regularly and have a checking or savings account, this history may be enough for them to offer you a credit card with a small limit. Banks are always looking for ways to expand their relationship with their customers and it’s an easy question to ask when you start your search for a card. Be sure to take the time to visit the local branch you use for your normal banking and sit down with a customer service representative to have the conversation. You might think a phone call is easier but taking the time and effort to actually visit the branch will improve your chances of securing a card.

    Find a co-signer for the card

    If you have been denied credit for not having full time employment, many lenders will issue you a card as long as you have someone else co-sign for the account. This is a big favor to ask someone since they will be jointly responsible for any debt you incur with the card. This should be someone you trust and know well since they are essentially providing a backup source of income for your card. In many cases this is how people new to the credit pool apply for a card and allows them to establish credit by using the card over time to apply to build a credit history. You can make this a temporary arrangement as well and cancel the card once you’ve established your credit history enough to qualify on your own. In fact, it’s always a good idea to come to an agreement with your co-signer about how long you’ll keep the card before actually applying. This way you both clearly understand the arrangement to avoid problems later on.

    Consider a secure card

    One final option for people looking for an answer to the question “do you need a job to get a credit card?” is a secured card. This type of credit card allows you to use it like a regular card but also requires you to deposit money into an account to cover any of the charges you make with the card. It operates very similar to a debit card but is accepted by merchants as if it were a credit card. Even though you technically don’t have any credit extended to you with this type of card, using it regularly will help you establish a credit history that you’ll need to have to apply for other more conventional cards in the future.

    Click here to compare 0% APR credit card offers, including credit cards for those with and without a job. Free comparison tools and reviews.

  • Can I Pay My Credit Card Bill At The Bank

    By Tanya

    Paying bills in the safest and easiest way possible is something that is on our minds very often. This is especially true of credit card bills. You want them paid on time but you also want to ensure the safety of your personal information. Years ago the only way to make payments was through the United States Postal System. Nowadays there are several ways, including snail mail, online banking, over the phone and in person. Of all of these options, the question that most people have is “can I pay my credit card bill at the bank?”

    Click here to compare 0% APR and low APR credit card offers. Free tools allow you to compare the best credit cards.

    Depending on whether your banking institution offers credit cards, you should be able to make your payments at the bank. Most of the larger banks do offer their own credit cards. If they do, then they will take the payments at your local branch. This is the most convenient way for those who live close enough to a branch that they do not have to go out of their way to get too. However, if you live in an area that does not have the cards particular branch it may be better to make your payments online or mail the payment to the main branch.

    If your credit card company is not connected with a specific bank, you can still make payments through your bank as long as your bank has a bill pay system in place, which most do. Bill payment systems through financial institutions are supported by the internet. This is what is more commonly known as online bill pay. With this system you can input your bills to your online bank account so that it they will be automatically withdrawn on the date you specify. This is a good option for those who are certain when the money will be in their account. If the money is not in your account when the withdrawal is initiated then there will be extra fees attached to your account for insufficient funds.

    For those who do not feel comfortable with automatic drafts through their banking account, and those who do not have a branch connected to their credit card nearby, another option is making your credit card payment directly though the credit card website. This is generally the quickest way to make credit card payments. This is the best way overall because it is faster and most convenient for the majority of people.

    No matter how you choose to pay your credit card bill the key is to remember to get it in on time. If you are using mail then you will have to mail it out in enough time for it to arrive by the due date. If paying though the bank you will have to make sure that it will post on time for the due date. If you are making one time payments then it is a good idea to set your cell phone calendar to remind you to pay, or if the company has a reminder system, sign up for it.

    Click here to compare 0% APR and low APR credit card offers. Free tools allow you to compare the best credit cards.

  • Credit Card Pay Offs: Five Ways Not To Handle Them

    By Tanya

    Credit cards pay offs are something that we all dream of. The more debt piles up, the more stressed out and overwhelmed that we get. Sometimes it gets to the point where we are willing to do anything to rid ourselves of credit card debt and this can become a real problem. There are several ways to pay get of credit card debt but not all of them are smart. Most of us know how to pay off our debt the right way, but there are those who will do whatever seems fastest at the time. Below you will learn five ways not to handle your credit card pay offs.

    Click here to compare credit card offers, including balance transfer credit cards that offer 0% APR and up to 5% cashback. Transfer your balances to lower APR credit cards.

    Your Retirement Savings

    Even though you can use your retirement savings, you should avoid doing so at all costs. It is called retirement savings for a reason. In the short term it may not seem like such a big deal; especially when you are still young. However, when you reach retirement age you will find yourself wanting to go back in time to avoid making the choice to use it for paying your debt. Another thing to consider is that when you take from your retirement plan you will suffer a 10% penalty fee and this can end up being more costly than the interest on your credit card.

    Payday Loans

    Payday loans may seem like a very convenient way to pay off outstanding debt with ease, but what they really are is loans with extremely high interest that you have to pay back faster than you do your credit card bills. When you take a loan like this, you will pay more than what you actually owed on your credit card once the interest and other fees are added up with the original loan amount.

    Home Equity

    Borrowing against your home may seem like an attractive option when your mortgage rate is low and the interest on it is tax deductible. But by doing this you are simply paying off one type of debt (your credit card) with another type (your mortgage).

    Balance Transfers

    Credit card companies rope many people into doing balance transfers. While it can be a good way to pay debt off, especially when the new card offers no interest for a specific amount of time, the new card is a major temptation and many people will end up doing more unnecessary spending on it which will build up more debt.

    Borrowing Money From Others

    This is usually a bad idea no matter what the money is for. The main target for borrowing is family members which makes it a doubly bad idea. The main issue is usually not paying back the person on time or at all because they are family. This can cause strained relationships that would have otherwise been just fine.

    Overall, there is no way that will magically get you out of credit card debt, but the best laid plans are those involving budgeting, spending management or consolidation.

    Click here to compare credit card offers, including balance transfer credit cards that offer 0% APR and up to 5% cashback. Transfer your balances to lower APR credit cards.

  • How To Pay For A Credit The Smart Way

    By Tanya

    Paying for credit cards can be quite the hassle if you do not know how to do it correctly. You may be thinking that how is there a correct or incorrect way to pay for a credit card? Don’t you simply just make the payments and be done with it? While this is true, simply making monthly payments of the minimum balance will get you only one place; deeper in debt for a longer period of time. The answer is not to have a credit card because in today’s society they are nearly indispensable. However, there are smart ways to pay for your credit card that will not leave you paying a huge amount of interest until the entire bill is done away with. Below you will find two common situations that credit card holder find themselves in and how to deal with them. So, here’s how to pay for a credit card with situation one.

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    Situation One: You have the money

    Here’s the obvious. If you make a good amount of money and have enough in your bank account(s), you can repay one or all of your credit card bills quite easily. The smart way to do so is to properly figure out what your total outstanding balance is. Once you do this you can contact your credit card companies and make the payments required to pay them off. Once you do this you should give it a couple of days and check your credit report to ensure that it has been marked “paid in full”. Anything can happen so you want to make sure that your report has been properly updated. If not, you should contact the credit card company and/or the credit reporting agency. Now we will take a look at how to pay for a credit card if you are short on money.

    Situation Two: You don’t have the money

    If you are short on money there are a few ways to go. One is to go it alone and the other is to ask for professional assistance. We will first take a look at going it alone. First of all, make a budget. See what money goes in and what needs to go out. If there is an excess coming in, allocate some of that to go towards your credit card bills. Either way you should focus your energy more on saving then you do spending. Knowing your budget, you can make two payments per month if you see that is possible. You can also call and negotiate a lower interest rate so that it is easier to pay off.

    For those who feel that they need professional assistance, you can contact a credit counselor or a professional consulting company. The company is usually the most popular choice. They get in touch with your creditors themselves and work out a plan that is more affordable for you and your once a month payment will cover all of your credit card debt. The consolidation company becomes your buffer between you and your creditors.

    If you go with one of the above choices, it is likely that you can unload your debt without resorting to dire means.

    Click here to compare multiple credit card offers, including 0%, 5% cashback offers from top companies.

  • How to Pay A Credit Card Off Faster: Best Practices

    By Tanya

    Credit card debt can pile up before you know it is happening. People tend to use their credit cards as they would their debit cards, which is always a grave mistake. Getting a set of new tires when you do not have enough cash in the bank to cover it is an acceptable use of your credit card. Paying for a burger and fries with it is not, and is usually the way the debt climbs so high, so fast. If you find yourself in a situation where you are close to or already above your card limit, this article will help you to learn how to pay a credit card off fast.

    Are you paying too much on your credit card bills? Compare low interest and 0% APR offers to save hundreds of dollars every month. Click here for free comparison tools.

    Tip 1: Don’t miss any payments

    This is a no-brainer. Missed payments will not only set you back further from paying off your card, but it will also mess up your credit score. It may also make your interest rate go way above what you are used to and tack on extra fees for being late. So, make sure you pay your bills on time or set up an automatic payment plan to ensure this does not happen to you. Research has shown time and again that avoiding missed payments will keep you on track.

    Tip 2: Don’t take on new debt

    If you are already maxed out you should avoid bringing any new debt on board. It may seem to you like you really need the new credit card, loan, etc. but when you take on another monthly payment you are taking away from money you could be put towards paying off your original debt.

    Tip 3: Have an emergency backup

    If your card is high but you have still not reached your limit, set aside some money each week for a cushion for emergencies. When something comes up and you need to make a purchase, it is way too tempting and very easy to reach for the card simply because you know there is some money left on your credit card. In such a situation you can use your backup cash to serve your needs so you do not have to reach for the plastic.

    Tip 4: Avoid making minimum payments

    It is very understandable when people make only the minimum payments on their credit cards each month. Times are tough with the economy and for those who live from week to week find it nearly impossible to pay more than what is required. Even so, if you can you should pay a little extra. It is best to at least double your minimum payment but if all you can do is add $10 or $20 extra each month, do it. It may not seem like much but it honestly will help you pay off your card faster and knock off some of the interest.

    Tip 5: Make some cuts

    If you are finding it difficult to pay more on your cards to lower the balance, try cutting other costs in your life. This may mean going for a cheaper cell phone plan, turning off your cable television or forgoing that $5 morning cup of coffee. Whatever money you save from cutting costs can then go toward your credit card payments.

    These tips are not a sure thing and it will take some patience to achieve meeting them. However, if you do apply these tips to your life you are sure to see your credit card balance drop much more quickly and isn’t it worth it to see yourself out of credit card debt faster than you expected?

    Are you paying too much on your credit card bills? Compare low interest and 0% APR offers to save hundreds of dollars every month. Click here for free comparison tools.

  • Automatically Pay Credit Card Bills With Zero Hassle

    By Tanya

    For the majority of Americans, credit card bills are simply a part of life. Having a good line of credit is something that people in today’s society need, whether they like it or not. You have to have good credit to buy a car, qualify for a mortgage and to make any other major purchase. Having your credit card applications approved is the easy part. Even those who have less than stellar credit scores can get approved if they apply with the right lender. The main issue that card holders, both high and low risk, run into is making payments.

    Are you paying too much on your credit card bills? Compare low interest and 0% APR offers to save hundreds of dollars every month. Click here for free comparison tools.

    With the rush hour times we live in it is easy to let making payments slip your mind. When this happens it can ruin the good credit that you have built, so it is time to learn ways to automatically pay credit card bills with zero hassle.

    The top way to make credit card payments with ease is to set up automatic payments. There are two ways to go about this.

    Automatic Payments Through Your Financial Institution

    Since the Internet has become the center of the world for a majority of people, paying bills has changed dramatically since this technological advancement. Many people no longer use snail mail to pay their bills, credit card or otherwise. Almost any type of bill you have, and almost every company, offers the option to pay your bills online. Credit card payments can be made online either as a one-time payment or as recurring payment. All you need to do to pay your bills online is contact your bank or credit union to set up an online banking account. This takes just a few moments and is not complicated in the least. In addition to this being a sure way to ensure that you credit card bills are paid on time, certain financial institutions offer online bill pay customers various perks for signing up for the service. Perks can include the following:

    • Lower banking fees
    • Contest entries
    • Cash back

    Automatic Payments Through Credit Card Companies

    As with automatic bill pay through your financial institution, your credit card company likely offers the same service. The typical process is signing onto your credit account online and checking the option that allows you to automatically pay credit card bills.  Once you set up this automatic option you can schedule the date in which you wish your payments to be posted. Most companies allow you to choose from automatic payment of the minimum amount due, the ending balance or another specific amount. Once you do this your bill will be taken out of your checking account each month in the amount that you have specified. For instance, even if your average monthly minimum payment per month is $20, you can choose to automatically pay $50 per month through this service option.

    Most major credit card companies have this option, so if it is possible for you to do so, make the switch to automatic payments. No matter how responsible you are when it comes to making your bill payments on time, you are human and things will sometimes slip your mind. Automatic payments are the best way to ensure that your bill is paid on time, every time.

    Are you paying too much on your credit card bills? Compare low interest and 0% APR offers to save hundreds of dollars every month. Click here for free comparison tools.

  • Is A Bank Card A Credit Card? A Comprehensive Comparison

    By Tanya

    Many years ago, there were checks to pay for purchases from your bank account and credit cards to make purchases on time. Even though we still have the option of using checks, we also have debit cards for our banking and purchase needs. Just like credit cards, they are plastic and can be used to make almost all types of purchases. Because they have become such a staple in our lives, many people confuse them with actual credit cards; the two terms are often used interchangeably. But, is a bank card a credit card? In short, the answer is no. There are several differences between the two.

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    Difference #1

    Debit cards are issued to customers by their banking institution. In order to use them to make purchases you must have money in your checking account. Credit cards on the other hand, offer you a line of credit. This is a type of loan that allows you to make purchases without paying for them outright.

    For instance, if you have a $1,000 limit on your credit card, you can spend up to $1,000. When you reach your limit you can no longer make purchases with it. With your debit card, you deposit your own funds into your checking account and you can only spend what you have. Debit cards are basically checks made of plastic; you can’t spend what you have not deposited.

    Difference #2

    When making a purchase with a credit card, the card is simply swiped through the machine. You do not have to enter a pin number and you do have to sign a purchase receipt. When using a debit card for the same purpose, you must enter a pin number to complete the transaction. Some places will require a signature as with a credit card while others do not.

    Difference #3

    When you use a debit card you are not paying any interest. Since it is already your own money you will, in fact, be gaining interest on it. However, all the charges you make on your credit cards come with an interest rate unless you pay off the entire balance before the statement comes out. This is one downside to credit vs. debit cards and why many people prefer to use debit whenever possible. No interest means less money to be paid out in the end.

    Difference #4

    Anything you buy using your credit card is fully covered according to certain regulations, which state that you are not liable for any activity made on the card that is fraudulent. What this means is that if your card is used by someone else without permission, or is stolen and used, you are not responsible to pay what is owed.  It also states that you are not responsible for paying for items that you ordered but never reached you.

    This is not how it works with debit card purchases. When unauthorized charges are made to this type of card, there are a few things that can help you out a bit. If you notice the charge within the first two days after it was made, you can dispute it with your bank and get compensated up a certain amount. The longer you wait the more of the purchase you are liable for. Most of the time you must contact the merchant that billed your debit card in order to get things cleared up in your favor.

    Overall, it seems that using debit cards are a better idea for basic, every day purchases. Credit cards are more favored for emergencies. Of course there are upsides and downsides to both so consider all things before choosing which one to use for your purchases.

    Click here to compare credit card offers, including 0% APR, 5% Cashback offers

  • Credit Card With No Credit: How To Get One And Build Your History

    By Rick

    Getting your first credit card with no credit history can be a challenging experience. It is like a catch-22 situation, since you need a credit history to secure a card and can only really develop one after you’ve had credit extended to you. In spite of this confusing situation, there are several ways for the average person to obtain a credit card with no credit as long as you take the time to understand the process.

    Click here to compare credit card offers from multiple providers, including ones that extend credit for first time borrowers

    Companies that specialize in extending credit to first timers

    There are a number of credit card companies that specialize in providing credit cards to people with little or no credit. These cards are a great way to establish a credit history that will then allow you to apply for a card from a more established lender in time. Most of these “no credit history” credit cards carry a significantly higher interest rate than a standard card but if you only use the card to buy items you can afford to pay for, you can avoid carrying a balance every month and dodge these fees. Using the card regularly will help you establish a solid credit history and paying off the balance during the grace period every month will ensure a high credit score as well.

    Over time the company that offers this card may increase your credit limit to allow you to use the card for larger purchases. Just be careful to not overuse the card so you never get into a situation where you can’t pay at least the minimum due each month. Missing a payment can really damage your credit history and prevent you from moving to a more established credit card later.

    Pre-approvals can help sometimes, but not always

    When searching for your first credit card you’ll want to choose one that you are pre-approved for if possible. The companies that send you an offer for a card like this have already done a preliminary qualification for you, which almost ensures you’ll be given a card. This is important because these inquiries are considered “soft” inquiries that won’t lower your credit score. Once you apply for the card, the company will do a more thorough credit check that will show up on your report. Knowing you have been tentatively approved will help you but that doesn’t mean your acceptance is guaranteed. The initial pre-approval is much like guesswork. You can’t rely on it.

    Compare multiple credit cards

    If you receive several offers for a credit card with no credit required, be sure to compare them before applying. The terms and conditions between them can vary significantly and you’ll want to find the one with the best rates and highest credit limit. Only apply for one card at a time. Since you’ll only be using this card for a short period of time to establish a credit history, you won’t need a collection of them in your wallet.

    Be aware also that some of these offers for a credit card with no credit may require you to deposit money in an account to use for your purchases. In essence you are spending your own money for the purchases you make with the card. Even though you could make these same purchases with cash, by using the card you are establishing a credit history that will allow you to apply for a traditional credit card later.

    Click here to compare credit card offers from multiple providers, including ones that extend credit for first time borrowers

  • Save Credit Card Interest Rates: Top Five Steps

    By Tanya

    One of the first things that people look at before accepting a credit card is the interest rate. The rate offered to you will differ from the one that is offered to other credit card customers because it is based on your credit score and credit history. For instance, a person who has had the card for many years and has always paid on time may have an interest rate of 10%. However, those who are new to credit or have poor credit may have an interest rate in the mid to high 20’s. Interest rates can make a huge difference in the amount you pay monthly and the time it will take to pay the card off, but there is good news: there are legitimate ways to save credit card interest rates.

    Click here to compare different credit card interest rates and save hundreds of dollars every year. Some cards offer 0% intro APRs.

    Step 1: How much interest are you paying?

    The first thing you must do is find out how much you are paying in interest. If you have never really gone over your credit card statement, you can usually find your annual percentage rate at all the way at the top or all the way at the bottom of the statement. If you have a really good understanding of interest rates and math, you can find your APR, combine it with what you owe and figure out how much you are paying and will be paying until the card is clean. Take a look at this example:

    Mrs. Jones owes $10,000 on her credit card. Her interest rate is 29%. She is only able to make the minimum payment which means that in the end she will have paid out $85,500. Now replace the 29% interest rate with 9% and she will end up paying $14,000. This is a difference of over $75,000. Looking at this it is clear to see how important knowing what your interest rate is. If you do not know this information you cannot fight to get it to a lower level.

    Step 2: Shop around for lower rates

    Pull out your cards and get online to do some research. At DontSpendMore.com you can compare interest rates offered on different credit cards and sign-up for the lowest offer. You may be shocked to see that new customers are being offered rates that are much lower than yours. Imagine seeing your credit card being offered to newbies at a 12% APR when you are paying over 20%. You may not be able to get the 12%, but you might be able to get it down lower than it currently is. However, you have to have this information handy before you call your credit card company so that you are prepared for a negotiation.

    Step 3: Compare national averages

    The next step to take is to compare the national averages to your own rate. There are several places online where you can get this information. In order to figure out how your rate matches up you must know what your credit score is. Your rates are directly connected to your FICO score — and these days other scores as well. This information will also help you in your negotiations when it finally comes to that.

    Step 4: Do the math

    Now that you know your credit score you can figure out what rate you should really be paying. Since many people do not know about this aspect of the credit card world, it often slips past them. This is something that credit card companies depend on. You can figure out the proper rate for you by viewing a website providing national averages.

    Step 5: Call The Credit Card Company

    Now that you are armed with knowledge, it is time to call your credit card company. For many people it feels awkward to ask for something from a business, but do not be afraid or feel intimidated. They are there to serve you. Explain your situation and see what you are told. Many times the first person you speak to will say that there is nothing they can do to help you. When this happens (and it will), ask to speak to someone who can help you. Do not take no for an answer and do not give up until you get someone on the line who can deal with the issue at hand.

    Getting your interest rates lowered is not something that happens overnight; it is a process so you must be willing to do the work and be patient. Remember that these companies lower their customer’s rates all the time, not that this is something that they advertise. But, as long as you are in the know you can get what you want out of your credit cards.

    Click here to compare different credit card interest rates and save hundreds of dollars every year. Some cards offer 0% intro APRs.