How do credit card refunds work if you've already paid the bill?

say that your credit card bill is $20 and you pay it off. You then have to get a refund for a product that was $10. Since you've already paid the credit card off in full, where does that $10 refund go?|||It goes into your account as a credit. It first gets used to pay for anything you buy before the next months cycle and if there's anything left at the end of the cycle it is shown as a credit to be used the following month. If you closed the account and it had a credit you would get a check for that amount.|||A credit for nxt months bill

My business wishes to have credit card autodebit facility for the customers. How to go about it?

Credit Card Autodebit - customer sign up an agreement form so that an amount is deducted from their credit card account for payment purpose.





What authority I need to get approval from? What are the choices?|||See your banker? That could be a starting point.

What can you do to lower your credit card interest rate?

Several years ago I developed a chronic medical condition,lost my job %26amp; was unemployed several years. I used my savings to pay my credit cards until I missed 2 payments in a row. I contacted the credit card company, worked out a deal to pay them back.


I am now employed, current on my bills %26amp; have been for several months even though they are charging me an usurious interest rate 29.95% I believe. I have not used this card since several months before my missed payments. I contacted the card company to lower this amount but they refused.


What are my options?|||You can call them to reduce the rate. They may reduce it slightly. Here's a trick that I do. I save all of the offers I get in the mail. Many times there are offers that will give you 0% or less than 5% interest if you transfer your balance from one card to another. So, basically you can carry a balance with little or no interest for 6 months to over a year in some cases.





Then, when the low rate is going to expire, do it again and transfer to another card with a great offer.





It is completely legal and really improves your credit. The credit report shows that you paid off a card in full, when all you did was just move the money around. However, with such low rates you should be able to pay off the debt.





Good luck|||What I would do is get a credit card with a really low interest rate and pay the others off with that one.|||Try to clean up your credit report: http://www.jdoqocy.com/click-1995821-102鈥?/a>|||you have to find a card with a better rate. make it your mission. i think they have already jacked up your interest as high as they can, what do you have to lose. be polite but persistent.you current creditors are under no obligation to give you a better rate, but before you give up, try asking supervisors as far up as you can to give you a better rate. try every month. with that said, smaller banks and credit unions can give you a better deal.|||cancel the card and pay them as much as you can every month. As long as you attempt to pay they have a hard time taking you to court|||You pay as much as possible every month from the outstanding amount. Never keep payments close to the minimum amount due.. Once your increased rate of payments becomes a steady pattern , you can ask the same company or other company to give you a line of credit which you can use for any emergencies, but continue with the enhanced payment. After a year, ask a Bank for a Loan to cover the remaining outstandings and pay off the credit card company. Thereafter , use the credit card only for convenience of not carrying cash, but not for credit.Settle the bills promptly and they will go on enhancing your limits. Never exhaust your limits and never default in the card payments hereafter. Slowly, but surely, buld up a savings pool to tide over emergencies like the loss of a job or an illness in the family,etc.|||pay it off|||Generally they do give a due date. Try tomake the payments before the due date to avoid any penalty. There some banks who give a 60 day interest free period. If one can settle before the due date it will not attract any interest.

Which credit card is best for a 19 year old college student trying to build credit?

I am deciding right now between the following two cards


Chase +1 SM Student MasterCard庐


Citi庐 mtvU鈩?Platinum Select庐 Visa庐 Card





I am hoping to just build a litte bit of credit while I have a part time work-study job at my school and don't know which of these cards I should apply for. Also will it be easy to get approved for one of these with no credit?|||The Citi mtvU card has a better rewards structure.


Why not try for both?


Visit the website below and look in the Credit Pulls database for your state to see which credit reporting agency Citi pulls.


Chase is almost always Experian.|||It is usually best to try to go for the type of credit card your bank offers because you already have a history and relationship with them. If you have a savings account you use meaning you put more money in it than withdraw and maybe some investments like stocks this will be good as well and it will help you more easily get approved. I would also advise getting nothing higher than a $500 limit to start you are a student after all you don't want to put yourself into debt. Another thing that will be good to do once you get your card is always pay it off in full before the payment is due not only will this look good on your credit you will also never have to pay any interest if it is paid off in full. Also remember never pay just the minimum payment you will be no farther ahead next month. The card I would recommend for you is the TD Rebate reward Visa mainly because with this card you get back up to 1% of what you spend at the end of every year so there is some incentive for using the card and also the fact that there is absolutely no annual fee. This is the credit card I have and I am a student and I love this card. TD also has a credit card selector tool which you can use to help you pick the card that is right for you. Hope this helps :)|||If I had to choose between just those two, I'd go with the Citi mtvU card. (I wish I could get it, but I'm not a student.) The Citi mtvU card is the only card available that offers 5% rewards at restaurants, books stores, movie theaters, and video rental stores.





By the way, there are other good student rewards cards depending on your spending profile (categories you spend on). You can use this rewards calculator to see which of several student rewards cards will pay you the most in rewards for your entered spending profile:


http://www.creditcardtuneup.com/?card_ty鈥?/a>





While I agree with others' replies that credit cards can be dangerous, if used with discipline, credit cards can be a good thing for you. The best way to use credit cards is:





1. Find the best rewards card(s) for your normal spending (e.g. using a calculator like the one I linked to above)


2. Funnel most/all of your normal spending through your rewards card(s) without max'ing them out


3. Always pay your monthly balance in full and on time





That way you:


1. Build your credit quickly


2. Avoid any interest/fees


3. Earn great rewards on the money you were going to spend anyway (as cash)





If you're a disciplined person, that's definitely the way to go.|||I have one through my bank, Bank Of America. Its a student credit card. They told me I should get it to help build credit and they're pretty good about interest since its a student card. If you're choosing between those two I would say the Student Mastercard since its for students it will be easy to get approved since you don't have credit yet.|||May I be totally honest with you?


It is a bad idea to get a credit card to "build" your credit, and totally unnecessary. Don't do it, my young friend. We are brainwashed into thinking we need credit cards; in most cases we do not. Just because everyone does something doesn't make it right. I am a financially successful person who cut up his credit cards a long time ago. I can still rent cars, purchase things online, and book hotel rooms without them.


Here's my advice: Read The Total Money Makeover by Dave Ramsey. This book will set you free from the North American debt myths that plague our society.


Remember, all debt except mortgage debt is EVIL.|||Discover Card|||None. You don't need them. Take a personal loan before you get one. There nothing but trouble.

How are credit cards used safely online? what is the exactly happnes after you give your credit card # online?

I would like to know the exact process, as to what happns with my credit card number, after I use it online? Does a computer code it? Or is my number accessisble to others?|||It depends on the website that you give your number too. If it is a secure site then you are 99.9% not going to have any trouble. If it's not a secure site then you shouldn't give them anything. To know if it is secure or not, the web address should begin with "https://", the s means secure, or there should be a little picture of a lock in the bottom right corner of IE. Most secure sites also tell you they are certified by VeriSign or some other company. When you give them your number it is encoded and transmitted to their server, and then is transmitted to the credit card company for verification.|||Usually (hopefully always) your credit card number is encrypted so that it can't be read while it is being transmitted to the store's website. Once it gets to the website, who knows? The store may just use the credit card number once for the purchase, then "throw it away,", or it may put your credit card number in encrypted form into a database, or it may put it into a database without encrypting it.





Usually a store will put their privacy policy on their website for you to read, and you have to take it on faith that the policy is actually implemented, and that no other mistakes are made with the data.|||When you type in your credit card number on a web page, your computer encrypts the numbers before sending it over then internet for processing (assuming the web site is secure, I wouldn't enter my numbers on a unsecured site). The numbers are processed by machines only, no human eye should see your credit card number, besides those looking at the monitor when you typed it in.





It's a lot safer then when you go to a restaurant, and the waiter walks away with your credit card for a few minutes.|||Okay be extremely wary of using your credit card on line because once you have submitted your cc number it becomes accessible to the company and they will continue to bill you for various iteims. Always read the fine print I have had this problem many times and this has caused my bank account to bounce like a basketball. What they do is say you order a cd online and only want that cd well they will continue to send you cd's that you did not order or do not want and charge you for it....BE VERY CAREFUL|||I have ordered several things online without a problem,most sites you order are a secure site,nobody else can see your number,and after you place your order the final step is they give you a copy of it to print for your records. just be careful with Paypal if Paypal ever emails you and wants your information, that is if you even have a paypal account, don't give them any information, its a bunch of theives with a fake site that looks exactly like paypal

What credit score must you meet to get a capital one business credit card?

When applying for a Capital One Credit card you can see what credit you should have to get approved, but the business card does not have that. Does anyone know? Or do they go by your business revenue?|||UNLESS you have been in business several years and have an established business credit record the credit is gained through your own personal credit reports.

What would happen to my credit card if the bank fails?

I have a WaMu credit card (love it because it has a good interest rate AND I can see my credit score 24/7 at no charge). They are in trouble financially for the same reason as a lot of other banks are. So if they go under or get sold or some other catastrophic thing happens to WaMu (or indeed to any credit card issuer), what happens to my credit card account? Can they demand all outstanding balances as immediately due and payable?|||Whenever something like this happens another bank鈥攖he one that took over the credit division of your bank (or your bank)鈥攚ill also take over the accounts. Your credit card may eventually be rebranded and it will be managed differently to reflect a new company's interests (e.g. right now, as a WaMu cardholder, you get a free PFICO, and that may change unless it is guaranteed in your terms), but you will keep your account (as you would keep any debt you have).





IcyKold's scenario will not apply.|||The account (if you carry a balance) will be sold as a receivable. However, it will convert to a closed-end loan. Thus, no more using the card. Reason being the first 6 digits on the card are the BIN, Bank Identification Number. Visa/MC's systems will not function properly if one bank is managing cards issued with multiple BIN's. Even worse, the system would melt down if one BIN was used by multiple banks. The whole routing of transaction information to move money needs this one-to-one relationship. |||The accounts are sold with the biz and you continue to pay as usual.|||Another firm that is solvent will take over your account...Don't count upon not having to pay the debt back....sorry.|||oh gosh i got wamu cc too and i sure dont know the answer and would like to hear others input.|||you'll end up paying for all of bank's debt. good luck! MUHAHAHA!!

Can the credit card company in Canada refuse to reverse charges made by someone else?

A co-worker confessed to police with stealing and using my credit cards and now the credit card company is saying I'm responsible for those charges. Is this true? I had no involvement with the theft or fraud|||I would either a) force your co-worker to pay for the charges OR b) I would file a police report against your co-worker (press charges if you want) and forward all documents to your credit card company. Put your dispute in writing ASAP to your credit card company. You should not be responsible if you didn't give permission or if your co-worker wasn't authorized user on your account.|||While BC Alberta and Manitoba do have legislation surround unauthorized use of a credit card, most Canadians are governed by whatever the cardholder agreement says. You'll have to read your cardholder agreement.





Many credit cards cap your liability at $50. You are not liable for any charges made after you told the card company the card has been lost of stolen. Other cards however will hold you responsible for all charges up until you tell them your card is missing.





Your recourse would be to go after your co-worker for whatever you end up paying. If she is unwilling to pay, you can take her to court. I would wait to see what happens with the charges. If she is found guilty, this is good evidence to use against her at the trial.

Who is responsible for credit card debt if somebody dies? Or does the company eat it?

Say somebody has X amount of credit card debt, then they die but still have that debt to the credit card company outstanding, what happens? Does the company have to write it off as bad debt or ? Perhaps the company can hit up that person's estate. But let me pose another question then - what if that person's estate does not have enough money to cover that credit card debt.|||The person's estate or surviving spouse, otherwise, they have to eat it.


Most credit agencies have a life insurance policy on their lenders now and don't persue the matter if you send a copy of the death certificate in to them.|||well if they have money in an account, it goes to the credit card company. otherwise, the credit card company is sh*t out of luck





please help me with ym question


http://answers.yahoo.com/question/index;鈥?/a>|||Hi,


I used "Credit Solution" to settle my debt and improve my credit score.They managed to reduce my debt up to 58% .It's legitimate.I came across this company on NBC News Special Edition.Check it out here:


http://nanoref.com/linksynerg/LL-vtw|||Yes, the credit card company can go to the estate of the deceased to collect. If there isn't enough there to cover it, then the cc company eats it.|||If there is a living spouse, then the spouse would be obligated. If not, just write 'DECEASED' on the bill and send it. Unless the deceased left instructions to pay the debts out of a life insurance policy.|||they can try the estate, if their is not enough to cover it, they eat it.

Should I get a new credit card or transfer my old balance to a new one?

I am looking to make a couple large, immediate purchases with a credit card. I already have one credit card with very little available balance. Should I:


A. Apply for a brand new card and use it to make these new purchases?


OR


B. Transfer my old balance to a new card, then work off paying the low APR new card while putting the new purchases on the old card?|||None of the above. You should reconsider these new large purchases. Do you really NEED them? Pay off the existing credit card balance first.





You have one card close to the max and are planning getting another card and charging it up. Carrying balances of more than 30% of your available credit limit, hurts your score. It is likely that adding this additional debt will cause your score to decrease and your credit card companies could put you on the default interest rate. Your minimum payments would zoom up with the higher interest rates. Would you be able to keep up?|||It depends on what kind of interest rate on the card that you have and the interest rate on the card that you may get.





If the special rate only applies to balance transfers, then you will need to transfer the balance and make the purchases with the new card.|||If you have a plan to pay within the interest free days - a new credit card (free of yearly charges surely) will be help full.





If you are willing to pay the interest and pay in good time - then compare the balance transfer per month pay and new credit card per month pay - whichever is less - go for that. The balance transfer sometime comes with an offer of some free goodies - try to make a deal on that as well.|||Without knowing the interest rates available to you, this is a difficult question to answer. That being said, there are other options you may want to consider.





Firstly, if credit cards are the only option available to you, get a new card with a low balance transfer rate and transfer the balance. Whatever would work out in you paying the least amount of interest. This part isn't rocket science, you jsut havr to figure out how much money you will spend on credit and then figure out how to move that money between your two cards to ensure the lowest interest rate applies overall.





However; you may also want to consider a personal loan to consolidate your debt. You can wrap up your credit cards and any other outstanding credit balances (car payments or whatnot) into a loan with low interest and free up the balance on your credit card. This often works out to the same kind of interest or better than a balance transfer on a credit card.





This would eliminate all of your monthly payments and wrap them up into one slightly smaller large monthly payment for your debts. I would at that point request that the credit limit on my card be lowered just enough to cover my planned purchases and perhaps an emergency allowance.

When a credit card expires and your bank sends you a new one, do they change the original credit card number?

Let's say your credit card has an expiration date of April 2009. Next month you receive a new credit card from your bank. Does the new one have the same number than the old one? Or do you usually receive a completely new one.


Thanks.|||Usually, but not always, it is the same number.|||Very unlikely that the number will change, call them up and check it out!|||The new card has the same information expect the expiration date and the SIC Code are different. Once they send you the new card the old card is deem invalid.|||Most likely it will remain the same, unless they feel there is a breach of your identity|||It is almost always the same number, and only the expiration date will be changed.|||If you lose your card or it is stolen you will get a new number. If your card is up for expiration and you have an open account (not closed by you or the bank) you will get a new card about 2-4 weeks before the last day of the month in which it expires. So if the expiration date is 04/09 you would have gotten it by now. If not, call customer service to report it lost.





The account number will be the same upon renewal but will have obviously a different expiration date and security code.|||No because it means they have to set up an entire new account for you and all of your history stays under the old account.

What is the best credit card to build credit upon?

I just turned eighteen so I never had a credit card before. I'm pretty ignorant in this area so I have no idea which card to apply for! Are there any cards that do not require a lot of fees?


Thanks.|||You have to check around but there are banks and credit unions with no fee cards. And if you want to build a good credit rating, use it sparingly so that you can pay it off monthly. Not carrying a balance will save you a bunch of money as interest is not charged on charges if they are not carried over. In other if the balance is paid off each month there are no interest charges and you still build a good credit rating.|||A lot of cards don't charge you annual fee. I like my chase card from amazon.com They give me 1% rebate everytime I shop and send me 25$ gift certificate after I spent that dolloar amount. However, I'm not sure if your credit is good enough to apply for it since you just turned 18. If you can't get it, try to apply one at those boothes in the school campus. Most of them can waive the fee for you but you'll need to ask.|||I recommend First Premier Visa / MasterCard or the Orchard Bank MasterCard. These cards are well known programs to rebuild credit. You can find them at http://www.creditfast.com|||Get a student one, because you most likely wont get approved for anything else. Almost all have no annual fees now, so thats not a big issue. Best card to start on is one you will monitor with your life and never send in a late payment for. Use it sparingly, only when needed or for small purchases and pay off the entire balance every month and ON TIME.|||You might want to try no history credit card


http://bestcreditcardratings.com/no-cred鈥?/a>


Also, you want to go for cards with rewards such as cash backs.


http://bestcreditcardratings.com/cash-ba鈥?/a>


All the best to you.|||I completely agree with M K. I have both the Orchard Bank Mastercard AND the First Premier Visa. They are excellent credit cards in order to build credit. When I started I had a credit score of maybe a 520-530. I'm now at a 733.

What is the difference between a secured credit card and a credit card?

What is the difference between a secured credit card and a credit card?


Is it just the fact that I have to send a check when I want a secured CC?





Thank you|||secured is a deposit credit card and unsecured is what most cards are.


Secured is based off the amount you deposit |||A regular credit card is really credit. You send in money to the credit card company AFTER you buy something to pay for it. With a secured credit card you send in money and buy stuff against the money you have on file with them. Basically, it's like a checking acount with the credit card company where you "borrow" against you own money. The only reason I can think of to get a secured credit card would be if you could not get a regular credit card. The reason is because you send them money beforehand. You then can buy stuff with the card up to that amount because they don't trust you to pay back real credit. |||I think everyone pretty much hit it on the head. A secured credit card is a credit card that requires a deposit to use it. If you don't pay off your bill, the credit card company will simply take the money from your deposit.





On the other hand, a credit card doesn't require a deposit and if it isn't paid off, there will be no money withdrawn from your account.

How do I go about consolidating my credit card debt?

I have a good credit score, last time I checked about 6 months ago it was about 720-730. Recently I have acquired a big credit card debt, about $9,000 on one credit card (with a limit of $10,000) and about $3,000 on another one (with a limit of $5,000) for many different personal reasons. After the whole spending money ordeal was over, I was left with all this debt on my credit cards. Since then, I have cut back on all unnecessary spending, besides the obvious things like food, gas, etc. I have never been late on payments and have never been over the credit limit. I Also try to pay an extra hundred bucks on top of the minimum payment due when I can. Are there any good ideas on how to consolidate these two credit card debts and help me out with all this? Thanks!|||First of all, consolidating the debts wont really change anything. In fact may adversely affect your credit score.


You need to do the following:


1. Evaluate you interest rates. If you are paying more than 12%, then think about finding a new credit source to consolidate. With your credit score you are probably getting teaser rate offers in the mail. (Beware of a teaser rate that rests after 6 months, as what you save wont be that much) Look for a credit card that will allow you transfer the balances for a long period at a low rate. Many cards offer rates of 5.99 or less for up to 2 years, but also check if there is a transfer fee. This can be as much as 4%)


2. If you find a good card and rate to transfer, then transfer as much as you can from the higher of the two rates you currently have. If you able to transfer all of 3000 debt, do not cancel that card. (Just make sure you dont use it) Having a zero balance and available credit actually improves your credit score.


3. Make a plan. Figure out how long it will take to pay off each card by taking the minimum payment amount (principal only, not interest) and divide into the amount owed. Lets say on the 10,000 card the principal payment is $277, that means it will take 3 years to pay off that card.


4. If both cards have the same rate of interest, but different pyoff dates, put all your extra monthly payment towards the card with the highest % to the credit line (in this case the 9,000 card as that is at 90% of your limit, vs the 3,000 which is at 60% of your limit). The lower the % owed the better for your credit score.


Finally, do not use the cards. Pay cash for everything. (This is very important if you end up consolidating to a lower interest card. Those cards will apply all of your payments to the low interest balance first, and start accruing a high rate on the new purchases. that will go on until the original amount is paid off).|||Try the DiscoverCard. They sometimes offer a 0% interest forever as long as you make the minimum payment and two purchases per month. They have been very good about not changing the terms of this agreement. For my two charges each month I purchase two yogurts or two gas purchases at about 50 cents each. Remember that your minimum payment will be about 2% of the total balance.





And once you have transferred a balance to a 0% balance card, you DO NOT want to use the card unless you have to. The reason being that any payments are applied to the lower APR balance first. So if you transfer to a 0% and then charge an additional $50, the $50 will accrue interest until the 0% balance is paid off.|||your best bet would be a personal loan through your bank or if you own a home taking out a home equity line. Either of these would allow you to pay off those high balances and have a lower interest rate, making your overal monthly payment lower.|||First, let me give my standard warning about consolidation loans.





Many people have fallen into this trap. They take out a loan to pay off their credit cards....then turn around and run up the credit cards again. Now they are in twice the amount of debt, and end up filing for bankruptcy. I have seen this happen many times.





That said...





If you have a home get a home equity line of credit. The interest rate is low, and it's tax deductible.





You can get a personal loan, but trying to get a $12k loan with no security may be difficult.





I'm not sure you will find a credit card with a $10k limit either, but if you can find one with a great interest rate, do that.





For now, pay off that card with the small balance as quickly as possible, then pay off the large debt.





Also don't be afraid to call the credit card company up and ask them to lower the rate. Sometimes you will catch them on a good day, when they are acting human.|||I understand what you are going through, but I did it a bit different than you. I also got into credit card debt, but was able to pay it off by simply transferring the higher interest card balances to ones with 0 introductory for at least 12 months and a low fixed rate afterwards (8 % instead of the 20 something bank of america gives you!) So you can pay it off faster. Frankly, I didn't want to get into loans (imho some are way too high interest) and with the newer credit card I only ended up paying about 167 dollars of interest on a 4,200 dollar debt. The only thing you should make sure is DO NOT be late on a payment..doing so will raise your interests rate to a ridiculous rate.|||Go to your bank and get a small loan for as much as you need and then pay off the two credit card companies...and it sounds like you have all your ducks in order concerning any spending habits, etc. If you have collateral, it would help for the bank purposes. Good luck...(If that doesn't work, maybe an arrangement with a family member for a loan (get it done by a lawyer) would be an option.|||Bad credit debt consolidation provides many benefits to the borrower like:





Unification of all debts into a low interest rate loan


Saving money that is paid as interest


Hassle-free processing


No harassment by lenders


Improvement of bad credit history





Bad credit debt consolidation can be obtained in two forms, secured and unsecured. Something many of us seek when we鈥檙e unable to get past all the credit debt which as piled up. Indeed, as the national credit debt burden grows, many creditors are pleased to work with people interested in resolving their debts.





for information on current lenders you can check out:


http://www.insightempire.com/badcredit.h鈥?/a>|||My husband and I use a company called The Freedom Point. What they do is work with your creditors to lower your interest rates. You can not spend anything on either account while it is part of the program. It does NOT negativly affect your credit score. We pay TFP our set payment each month, and they distribute it to our creditors. You're doing better than us, our debt on the plan mounts over 30,000.... but we're on track to be debt free on less than 4 years. They can most likely set you up with a plan to get you out of debt quicker than that, it just depends on what you are able to afford to pay. They're available online.... or you can call them. Good luck hun!|||you get a credit card that will consolidate all you others into one payment. they will pay off all the other cardds and close them so that you will only have one payment to make on the new card.mose major banks offer consolidations. check out some that says 0% intrest for a year like chase. this should able you to pay it off sooner.





Hope this Helps.|||do a transfer balance on a new card at 0% for a year or so paying what your minimums are on cards with a higher rate. this will get them paid off faster, if you have good credit...they will give you a longer 0% transfer period





btw..chase sucks. their customer service is bad. phone time is like 15 minute wait|||The Credit Score (also known as your MyFico score) is calculated with the following breakdown:





* 35% - Payment History


* 30% - Credit to Debt Ratio


* 15% - Credit History


* 10% - New Credit


* 10% - Credit Types in Use





The best is a smal personal loan consolidation. I found interesting information about your answer %26amp; options here. Goodhttp://all-debt-consolidation-loan.blogs鈥?/a> luck!|||Transfer the debt to another card that gives you 0% APR for 12 months. The transfer itself will probably cost you 3% of the debt amount.

Is there any way to build good credit without using a credit card ?

My husband and I are new to the US ( green Card Holders). We believe in a 'no credit cards' way of life. The only obstacle we are facing however is our lack of a credit score in the U.S.





Does anyone have an understanding on this ? Is there anyway we can build a decent credit score within a 2 year time frame without the use of credit cards ?





For the record, we are not in debt, pay all bills on time and manage our finances pretty well by living within our means.|||Credit cards don't cost a penny to use.


It's a way to build top notch amazing credit scores for free.





You use a card for gas or food and you pay in full each month.


This way you never pay interest and get scores that will amaze any future creditor.





Would you re-consider getting a credit card?


Any other way to get amazing credit will cost you money...|||Unfortunately having no credit and 'living within your means' ultimately causes problems for people trying to obtain credit. If you don't have a credit history, you effectively don't exist! I'm in the UK and can only comment really on how it works over here (but I think it is similar over there).


When advising people new to the UK on how to 'build their credit file', I would first tell them to add their name to the electoral roll (do they have one in the US?) then open a catalogue account and/or a mobile phone account and keep it running perfectly for at least 6 months. Any mail order type company should let you open an account as soon as you can prove your identity and your address (in the UK, by being on the electoral roll). Find out which companies record their accounts on the US database. Contact Experian - they'll help.


Good luck!|||You have to borrow money whether it be a credit card account, personal loan, car loan or mortgage in order to build a credit score in the US.











If you are wise with your finances, it shouldn't be an issue for you to have a credit card.|||Credit scores are built by using and paying credit. That means credit cards and/or loans. Nothing else builds credit.|||小redit repair work械d fine to fix my credit. They disputed and removed lots of bad items from my credit report. I used this service - credit-report-score.10001mb.com

Do you have to have a credit card to build up your credit?

I want to pay off my credit cards because they are such high interest. I have late payments in my history, so I want to build up my credit again. Do I really need credit cards to do this? I hate the idea of owing money. I thought about getting a credit card, using it and then paying it off each month - but I was told that wouldn't help my credit. What should I do?|||just read these, especially the top link see the FAQ plenty of advices:


http://credit-cards.ebookorama.com


http://finance.ebookorama.com


http://credit.ebookorama.com


http://credit-repair.ebookorama.com


good luck!


if it helps please remember me cheers|||actually paying off a credit card each month is Great for ur credit. u will never have a late payment, and u will never incur a lot of fees. the thing is, each card u have, even department store or gas cards, are what they call "trade lines". so the more trade lines u have, the more likely u will be building ur credit. however, if u ever default, or have huge debts on there only paying the minimum, that looks bad. perhaps u can pay off most of ur debts, and keep like 2-3 and only use one frequently, paying it off each month so as not to incur interest. the longer u have w/o any late payments, i think the better ur credit will be. however it will take TIME..which is why paying them down each month Is good for u. good luck~





ps..i've had One credit card since i was in college, and opened a few cards at dept stores, but never used them... i pay off my credit card every month w/o fail..i continue to get higher and higher credit limits, and i made a major purchase recently, and my credit score turned out to be Way higher than i ever thought! :)|||No u dont have to have a cc to build ur credit, u can build ur crd with ur apt history, a debit acct (prepaid card @ ace), car note it really just depends on what u apply for for them to chk ur credit if it's a bank they're going to chk ur banking crd.|||You need to have enough credit cards before your credit score goes up. The idea is to demonstrate proper and responsible usage of credit. So simply not having any credit card will work to your disadvantage. Go with having 4 regular credit cards. Keep 2 at home. Make sure they are all "no annual fee" cards. Use one regular and keep one as back up. Always pay the entire balance off every month. Use automatic online bill payments to make sure and you should be fine !





Good luck !|||getting a credit card and paying off the full amount every month is exactly what will bring your score up....even try to pay if off within 20 days of purchase to avoid any interest payment.......also keep any balance you may have under 35% of total credit limit....example: $1000.00 limit on card....charge no more then 350 at any given time...if you need more credit then the 350......pay it off 1st then charge.....this method is working wondering for my fico score|||by having a credit card and paying your bills on time would help you build good credit :








Credit Card


http://www.debt-explained.com/category/C鈥?/a>|||THe cheapest way to pay off you credit card bills would be to take out a loan to repay the card balances and destroy your cards never to use them again. You do not need a credit card to be considered for credit purchases what you do need is to show that you have made repayments on time.





Spalding Financial Services can help with Credit cards, loans etcfor people of any status. Using thier thousands of contacts they can arrange any sort of credit. Email spaldingfinancialservices@yahoo.co.uk for further advice or help.





Good Luck!!|||Hi chi bebe,





I would say yes to needin credit cards to rebuild your credit. the thing is that you need to find a credit card that will help you do that. There are several out there that help with just Rebuilding your credit. The best one I know of is the Orchard Bank Mastercard. Because once you pay your bill it actully reports to the three main credit bureaus so that it will raise your FICO score.


Here is a link to learn more about it.


http://www.0-apr-creditcards.com/orchard鈥?/a>


I hope this helps!|||Yes I think you do so you can build your credit up hope it helps|||credit card is not required. just pay your other bills on time.

Can a credit card company get a judgement against you and take the funds from your business account?

I would like to know about collection laws in California. If my girlfriend had a dispute with a credit card company and didn't pay the $5000.00 balance, can they get a judgement against her and take that money out of our business account?





Can they take the money out of a trust if she is the beneficiary?





We need asset protection advice!|||California Wage Garnishment





Up to 25% of the debtor's net disposable earnings. Once the levy has been served on the employer by the sheriff or marshal, it remains in effect until the judgment has been paid in full. Because California is a community property state, the wages of a non-judgment debtor spouse are also subject to levy. California Statutes of Limitation





Written agreements: 4 years, calculated from the date of breach.





Oral agreements: 2 years.





The statute of limitation is stopped only if the debtor makes a payment on the account after the expiration of the applicable limitations period.|||I'm not an expert on CA law, but you might want to say whether your business is incorporated or not.|||A $5K disputed balance is pretty big. One would think that your girlfriend would have some sort of documentation detailing and proving her side of the dispute. If the credit card company sues, she would be able to present her side.





If they do get a judgment, they can probably attach any bank account with her name on it. Might be a good idea to settle the dispute before it gets to court.|||If you are a corporation, I don't believe they can. If you are a sole proprietor, I believe it is possible





It all depends on what your business organization's nature is.|||Sorry I needed this piece of the puzzle so my answer is a little different here. Well first how much in default are you on this credit card. I am not familiar with the laws in Cali, but I know if it was possible I would move funds into something in your name and not jointly.

How much will getting a new credit card affect my credit score?

I've got excellent credit (3 cards) and pay my bills in full, including a small car payment and a mortgage. I am considering refinancing the mortgage.





I just got an offer from Delta for their credit card, which would have no annual fee in year one and would give me 40,000 air miles. I would like to accept the miles offer because it's the most miles I could get quickly, but I wouldn't take it if it would adversely affect the possibility of refinancing in the next few months.





Thanks for your insight.|||OK first of all lets clear up some misconceptions because obviously some people did not read your question and understand what you said.





The largest part of your score is not your debt to credit ratio 30% it's your payment history 35% and if what you say is true that you pay your bills in full that means having additional credit will not help you because your debt to credit ratio is near 0% now and your payment history should be outstanding.





So having just refinanced my home and also having very strong credit I would offer the advice that my banks loan officer gave me. Wait until after your refinance is completed and then sign up for the Delta card.|||The way the economy is going I would wait a couple of months|||Do not take on any new credit before you get the property refinanced. If you are eligible for the refinancing now the last thing you want to do is change your credit rating.|||I agree with others here|||I'm not sure exactly, but this site has a lot of answers listed for common questions: http://www.productsupplycenter.com/web24鈥?/a> It's helped me raise my credit score so much in the past few months.

How can I get an unsecured credit card with crap credit?

I need to rebuild my credit, but can't afford a secured credit card. Is there any bank outside of Premier Bank that will give me an unsecured card?|||Unlikely.

How long after paying off a credit card does it take to reflect on a credit report?

Lets say I have 4 credit cards totalling $3000. I then wrote out 4 checks and paid off each card in full on the same day. How long would I have to wait until my credit report reflected all of these charges paid off?


|||Most places have up to 60 days legally, but a lot of credit card places report every 30 days. |||it is said that you will have to wait 3-4 months before your credit report will reflect you payments and your score will change. I did the same about 4 months ago and it gust showed on my credit report





I've had good info about it here:





http://buildcredit.ifastnet.com





Best regards.


|||by the the collection agency has 3 months 2 update ur credit report, then they update it as paid in full or settled in full. |||Around 60 days assuming you're talking about active credit card accounts, not defaulted loans sold to collection agencies.

What credit card could i get if i have no credit at all?

I want to get a credit card to buy a computer but i keep getting turned down because i have no credit.|||the sites below are intended for poor credit, ccjs and no credit at all all of them will be able to help but dont take my advice try them for yourself|||First, DO NOT follow the other posters' advice and get a secured card. They do not report to credit agencies and so do not build your credit. The only difference between them and your debit card is they cost you money. What they do is prove to whatever bank you get the secured card from that you can keep the card paid off so they might give you a real credit card, but unless you have bad credit, you do not need to do this. No credit is not bad credit, you can get a real card right out of the gate.





The most important things to look for are NO ANNUAL FEE and a grace period to pay off purchases before you are charged interest (normally a month). Your interest rate will probably be very high for your first card (in the 25% range) so try to keep it paid off. Your credit limit will probably be very low (maybe $500), but after having the card for a few months you can call and ask them to raise it. Your first card probably won't have any perks like cash back or anything, but cash back is probably the best perk you can get.





To build your credit, stop using your debit card and start using your credit card. This is also more secure because credit cards protect you better from fraud than debit cards. You can then pay off the card from your bank account online every month so you won't be charged interest (if your card has a grace period). Keep this first card forever. Sure, get a new card later with better perks or whatever, but old credit lines look very good on your credit report. Instead of cutting it up and never using it when you get a better card, call them and ask them to lower your interest rate and increase your limit. You are not forever stuck with the rate you start with.|||New regulations passed in February of 2010 making it nearly impossible for anyone under 21 to get a credit card.

Could that be the problem?

Also, you must have steady employment with strong ability to pay back.



One note about credit cards:

You could cause damage to your rating by carrying a balance and not paying in full each month. This is why:

Each time you use more than 30% of your available credit limit you are reducing the rating.

Ex: $1,000 limit, never touch more than $300 in usage.

Your first card will likely have less than a $1,000 limit.

That's why experts will tell you to pay in full each month.

You never pay interest and get scores that will amaze any future creditor.



So you see how buying something too expensive can cause damage?

Employers check, so do landlords, and car insurance companies (you'll pay more).

If you get a card, use it for small things like food or gas and pay in full each month.

Save for your laptop, and then buy it.

---------

Secured cards: You have to have the cash in the account to purchase the item.

If you don't replace the money in full each month this card is not likely to ever turn into a credit card. Only 10% are turning into credit cards because people can't seem to pay in full each month for what they spend...|||Secured card with parent co-signer who has good credit.|||Orchard Bank, fool.|||Get a debit card tied to your checking account.|||You need to start out with a secured card.|||get a secured credit card......they have low limits but it is a way to begin to build credit...|||Try Orchard Bank.|||Orchard bank.com. it help me a lot


.fill out application for credit card

What student credit card can I get without credit history?

I want to get a credit card so I can get some credit history. I don't want a pre-paid credit card because its stupid and totally useless. I have a debit card, and paypal for a reason. -,-


My bank is PC Financial, but they don't give out Mastercard without credit history; spite having a student mastercard plan.


What a headache.|||Student CCs are designed to help build credit and most of them will allow you to obtain one without credit history.


There's also secured cards. You have to put some money into an account, which holds your credit line open. Other than that it works like a regular CC. There may be some fees since they nickel and dime everywhere now, but money you placed in the account is returned to you (asuming you've never defaulted) once you have the credit to get a regular card.|||I would suggest a Capital One credit card they are fairly easy to get approved for and start you off with a low credit limit but after 6 months of being with them if you pay on time this limit can be significantly increased. also a secured card may work if you cannot get approved these are both a great boost to your credit. Remeber dont go out of control :) Good luck to you!|||Get a credit card from local bank and pay it in time. You also can use this service to avoid common mistakes while buiding credit and pre-estimate future scores for different scenarios of payments - credit-report-score.10001mb.com

What is the best way to payoff my credit card debt?

I currently have around 10,000.00 dollars of credit card debt on three different cards. I am paying 29.99% on two of them, and 22.99% on the other one.





I have tried to get a card with a better rate to transfer my balances to, but the issuers won't give me one because I am using so much of my available credit now. I have not had any late payments on my credit accounts, tho.





Should I try to get a home equity loan to pay off the cards, or is that a bad idea, too?





I know that I got myself in this situation, and I am wholly responsible. I do not feel right about declaring bankruptcy, but really want to get out of debt somehow.





If I am unable to get a lower rate, then I don't see a way to rid myself of the debt. Any advice?|||I used to work for a large credit card issuing bank, so I feel I can offer some advice.





Bankruptcy is not an option for you- unless you are unable to work hard to repay your obligation. If you are capable of working a decent paying job, you will regret bankruptcy for the next 7 years or longer. That's probably a lot longer than it would take if you sucked up some tough months and paid your bills.





It's not likely for you to obtain a credit card with a lower interest rate- at least not one which can accomodate your total debt. You don't indicate what your credit history is, nor do you indicate your credit score.





However, there is something not quite right because you indicate you're paying 22 percent on your cards. Incedentally, 29.99 percent falls into usury in most states- in other words, you're paying more interest than the value of the loan. That's considered illegal and the creditor cannot pursue collection of debt from you.





Some states allow the market to dictate the usury limit, but again, most states do not allow above 24 percent.





In any regard, there must be something sketchy about your payment or credit history if you're paying more than 8-12 percent for credit card debt.





The best two options would be a home equity loan- you can usually get a much lower rate- but consider this- are you looking to make any improvements or possibly move over the next few years?





Also, look into a consolidation loan from your bank. It's not debt management, so it won't appear on your credit report as such. Debt management companies negotiate with your creditors to accept lower payments in an effort to pay your obligation. Good for your wallet, bad for your credit score.





A consolidation loan will pay your creditors in full while you make payments to your bank. Your bank will most likey ask you to close your accouts, which is good because you won't generate further interest, and your accounts will show as "paid in full as agreed". It will also cut off any temptation you may have to use your cards as credit becomes available, since they'll be closed.





Once you pay off the debt, you're in the clear to re-apply for new cards, and you will be in better position for new rates.





Make certain to ask if you pay more than the monthly amount whether it goes to principal or to interest. If it goes to principal, pay as much as you can above minimum each month. You're going to have to suck it up and grow up a little- live frugally and poor.





I also suggest not opening more than one card. A good rule of thumb is to live below your means, that is if you plan on saving for the future. If you can't pay in cash, (a house or a car being two exceptions) you don't need it right now.





The advantage of a consolidation loan over a home equity loan is that you're not using the equity (or your home) as collateral.





Good luck.|||Debt Consolidation would be good...here are some info for you:





http://www.askaquery.com/Answe鈥?/a>

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|||Apply for a Home Equity Loan so that you can manage your payments better. The interest will be income tax deductible. You'll breathe easier each month. Get a fixed rate if you can.





However, be sure that you don't get back into this mess.





I called Citibank. They did the rest of the work. Took about 30 days.|||The only way I know is to get a job or 2 or 3 and work your *** off and don't let this happen again. No fun I know but you had your fun getting into debt in the first place.





A home equity loan will just put you farther in the hole. You can't get rid of debt with more debt.|||Whatever you do,don't go with DebtFree! They will screw you around. Be Blessed! Monica|||The key to having 'good' credit is to not use it very much... duh! If you demonstrate to your creditors that you can live within your income and pay them back on time, they will encourage you to go further into debt with them... just don't do it. They are very nice when you don't owe them much, but when you start to over-do it, or miss a payment, they turn into Guido the butcher, and they will send some guys around to help you find your checkbook, if you know what I mean. Don't play the game by their rules or they will crush you. Pay off all your credit card debt before you do anything else expensive, like take a vacation or buy an appliance. It would probably help if you destroyed your cards so you can't be tempted to use them again. Once you have a zero balance, call them up and tell them you want to cancel your account... then they will most likely offer you a better APR just to keep you on the hook. My credit score is currently hovering around 800 because I just let it accumulate and I DON"T EFFING USE IT EVER. $20 here or $30 there is all you need to use it for... don't ever let the balance get over 20 % of the max. And pay them on time... even if it is just the monthly minimum. If you are already in over your head there are non-profit organizations to help you. Try google and enter "Crippling Credit Card Debt" or something like that.|||I think it's easier to pay off debt little bit at a time, if you were to set a side an amount (small percentage 5%-15) out of your monthly income. You should be able to pay off in a few years, if you can limit you usage.|||I would go with the home equity loan.|||Interest rate to high it is.





Crooks who charge this rate they are.





Bankruptcy best option it is.|||It sounds like you own a home. The best thing to problary do is to refinace your home and include your debt with it. Also try to pay more than your min. payment. Good Luck|||A home equity line is an ideal way to consolidate your credit card debt while putting money in your pocket at the end of every month. It will provide a much lower interest rate, offer some tax benefits, and with $10,000 at 30%, definitely save you money every month.





Keep in mind that the home equity loan will spread your debt out over an extended period of time and the key to it being an effective tool to get rid of credit card debt is to remain disciplined in not developing additional credit card debt.





The are several companies that specialize in working with customers with less than perfect credit. Personally, I am a fan of Beneficial finance.

How does a credit card and bank work?

I'm planning on getting a Visa credit card, I'm confused on how that connects with the bank? For example, if I was with Bank of America, how would the Visa card connect to that bank?





Any recommendations for a bank by the way?|||It doesn't. You will use the credit card, and when your bill comes, you will have to pay it with w/e money you have in your bank account.





Debit cards on the other hand, are linked directly to your bank account. So any purchases you make on a debit card, it will be deducted from your bank account balance.





You can't spend more then you have in your bank account when you use a debit card. But when you use a credit card, you very much so can. Thats how they catch you on that interest!

What credit card companies are best for little to no credit?

I've had a credit card and I'm trying to see which companies are more flexable with first time userswho have little to no credit. Capitol One declined me. Any others?|||If you are under 21, you're probably not going to be able to find an unsecured credit card anywhere without a co-signer or guaranteed source of income (and in some cases, even if you have a job, the issuer may request a co-signer).





Otherwise, try Household Bank or Orchard Bank or go to your own bank and see if they offer a secured credit card (one that is guaranteed by funds you deposit in a savings account). If your bank doesn't offer them, Bank of America and Wells Fargo have them.





Also be aware that each "hard pull" on your credit report will lower your credit score. A hard pull occurs every time you apply for a credit card or a loan.|||I had a very hard time getting started in the world of credit. At 25, the only things showing up in my records were unpaid medical bills and student loans. (Medical bills were supposed to be paid by insurance. Student loans had not gone into repayment yet.)





I caught my first break with PayPal Buyer Credit.





A few months later I was approved for an Visa card through Amazon.com .





You might try those two places. Although, I have to say - I did have accounts in good standing with both of these companies for a few years before applying for a card. (I paid them with the debit card I got through my bank.)|||Capital one has a lot of cards for people with no credit. Discover has a student card..

How do i have bad credit without ever having a credit card?

Im 20 and I applied for a kohls credit card and they denied me for bad credit but i have never ever owned a credit card or anything. I have loans for college but thats it. So how can i have bad credit without ever having credit. How am i supposed to get a credit card ever if i have bad credit?|||If you've ever paid a student loan payment late that hurts your credit a lot. Same goes for if you've ever had a negative bank balance or if you've paid any other bills in your name late.


The best thing you can do is check your credit report and make sure all the information is correct.|||If you only have student loans, it is more likely that you have limited credit, instead of bad credit. Student loans in deferment do nothing to build your credit history.





You should pull your credit report (AnnualCreditReport.com) and see what actually shows. It could be errors on your report or it could be that someone (usually a relative) used your ID to open accounts.





If it turns out that it's just a lack of credit, you may have to start with a secured card -- you pay a deposit which is held as collateral against the line of credit.|||A rejection isn't always about bad credit and missing payments. It might actually be that the bank that runs the card doesn't think you earn enough money to support your rent, student loans and a new credit card.





Check the rejection letter for the actual reason (however vague it might be). If you were turned down for something in your credit report, the letter will say so and mention that you're entitled to a free copy from the reporting agency they used.|||What was the actual terminology they used? Was this in a letter form that they mailed to you??





When someone is denied, the reasons given never actually say "bad credit", even though that is what they might mean.





You said you have school loans. Have you EVER been late with a payment?





Have you actually seen your credit reports? If not, get them here for free by law: https://www.annualcreditreport.com/cra/i鈥?/a>





Don't buy the scores, they're meaningless. Also, those reports are available to you for a short time (2 weeks if I recall) so print them up or at least save them as word docs.





If you've never checked your reports, who knows, maybe someone got ahold of your social %26amp; opened up some cards in your name. No telling. Anywho...get those reports %26amp; find out what is on them. Under the section of "Inquiries", you'll see which report(s) that Kohls pulled.|||When was the last time you checked your credit reports?


They are free once a year (all 3) at:


Annual Credit Report.com


No need for the score - useless since you want to review all the reports line by line





How did you know you got turned down for bad credit?


Maybe they turned you down due to your age (must be 21 or older)


Or your income is too low to support a card


Or, you have not had employment for over a year.


Anyway - you should know those 3 reports - every single line- your responsibility|||At 20 you, by definition, have bad credit as the law was changed to make it very difficult for you to get a credit card.|||Pay-up your student loans they your credit ratings will improve.|||What you should have is a lack of credit. To make sure, pull all 3 of your reports and make sure your ID has not been stolen.|||see if someone has been using ur information|||If you have a bad credit score because you have defaulted on your mortgage or other loans too many times, you may despair of ever getting the credit you need again. However, there is hope. You need a bad credit credit card and indeed you can most likely get one, even if you have no credit history at all. Most adults with regular lives find that they need a credit card to make major purchases at least, so you need to make sure you can obtain one. If your credit is bad, you will still benefit from getting a card for those with bad credit.





There is nothing to worry about if you have to apply for these types of cards. It is easy. These applications work pretty much the same way as any regular card. Even with bad credit you should be able to get your hands on a secured card. With these, all you do is deposit some money in the account and you are ready to use it. No-one will know that you are buying things on this type of card because they look exactly like the regular ones do. No-one but you - and anyone you may tell, of course - will be aware of the restrictions placed upon your card. It's important that you familiarize yourself with the fine print on the agreement for which you want to apply to make sure it suits your needs. Look out for the fees which are charged - some of them are astronomical!





Bad credit credit cards have a lot of the same pluses that any card does. You can still pay your bills online, get online statements on your account and have very good support from customer services. None of these things are affected just because it is not a prime card that you use.





These days, a lot of people enjoy the benefits of online shopping. You will need a credit card to enable you to take advantage of these convenient services. Even if you have bad credit, this perk of shopping online is available to you, with these types of cards.





Perhaps the best long-term advantage of getting these types of cards is that they allow you to build up your credit score again so you will find it easier to borrow money and get credit in the future. This works because the lender will usually report to the credit bureaus on what you used your card for and how well you kept up with your repayments. If you are careful about your spending and repayments you won't have any trouble at all building your credit score back up.





Therefore, you don't need to worry that having a bad credit score now - or no credit score at all - will blight your chances of getting credit. These types of cards make this easy and can be a great way to build your future financial stability with a better credit score........

What should your credit score be to get a good credit card?

Is it 600 or above? I am working on fixing my credit and I have an auto loan that will help rebuild my credit. I need a credit card for emergency's and to help my credit, just wandering when I should apply for one. Right now Its not near 600.|||700+|||well i think around 675-720 is good.. anything over 720 is great 550- 674 is above average... 400-549 is about average anything lower then 400 is bad.. but i would say still salvageable unless you go below 200 then it would be really hard... i say this because my credit score has all ways hovered around 669 due to an old account but recently i had a payoff which upped me to 678,, at which time my auto loan interest rate dropped about 8% to


10.5% and i was able to get 2 5000$ credit cards at 8.9% fixed interest wich i think is awesome.. don't know if i could get lower on that.. hope that helps you some

What credit card could I get approved for it I have bad credit?

I have really bad credit from mishaps that have happened years ago, what if any credit card would I be able to get accepted for?|||There are lots of companies that offer credit cards to non standard borrowers. Be aware they will charge you a higher interest rate that another borrower with good credit. That is why you should seek to have good credit. If you have bad credit and get a card borrow a little and pay it off promplty. Do not leave a balance due each month or at least have a small balance. Keep the account open for two years. This will improve your credit rating. More cards will not help your rating. Good luck.|||anyones with secure credit card. city bank.|||I also have bad credit and I have a card. You can get one from capiatl one. I have one and it really helps with the credit.

How and why does a credit card company like Capitol One issue cards to me through 2 or more different issuers?

How can they offer me card from Capitol One and an Amazon Capitol One and a University Capitol One card and they are all different accounts. How is the money made by the issuer and the original credit card company? How does it work?|||Those are the infinity groups that Capital one has contract with. For instant, BOA issues LL Bean, NFL or AAA credit cards. The bank manages the card but and the store gets the benefit for bringing in more customers while customers get free shipping and handling. With AAA, customers get gas rebate every time they use the card. Customers who have NFL account can get NFL merchandise or memorabilia and enjoy carrying the card with their favorite's team logo..





Credit card companies also have to pay a fee to use those infinity groups' logos. They take more risk for issuing those cards. The reason is that they pay upfront to the merchants before they can collect the money from customers. At the same time, credit card companies earn fees, interest from customers. You can have several different credit cards that may issue by the same bank or credit card company. They both get benefits for issuing the card. Some customers do not know that LL Bean is managed by BOA. They thought LL Bean itself issues the card.





It's all about marketing. Everyone wins. The card issuers and the infinity groups.|||ok, I have 3 American express cards, and basically they will give you one credit limit, and divide amongst all three cards. I mean they are not going to tell you that in those exact words, but this is what they do essentially. and you will be able to switch you credit balances around from card to card as needed|||It's all Capital One. The other businesses use Capital One instead of their own store charge cards. Chase has similar arrangements with other stores. It seems to be a marketing tool that works for the store and Capital One.





The store makes money because you buy stuff and charge it on the card. Capital One makes money with merchant fees -- there's probably some arrangement for less fees to the store. And of course, Capital One gets interest and other fees from you.

What credit card is best to pay off first? A card overbalance or closed?

I have a credit card that is over my credit limit but is still "open" or I have a card that is below the limit but has been closed by the creditor.


What is the best card to pay off first, asuming that the interest rates are the same. I'm leaning towards the open account that is over limit.


Which one would show most favorably on my credit file?|||If you have an account over-the-limit and another one that is closed, the OTL account is your first priority. It will show most favorably if it is still open and you can quickly return it to a current status.





If you are having these problems, you may benefit from a debt management plan. You may wish to meet with a credit counselor to discuss options for improving your situation. A directory of local agencies is below.|||You can visit http://www.debteraserzone.com and find very useful tips and several articles on credit card related matters.

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|||you should get rid of all credit cards and start paying with cash. believe it or not you WILL save a lot of money by doing that. not just from interest, but people will charge less. eg: a mechanic who fixed my bumper said it would cost me $1500, I asked him how much the cash price was and he said $1000. try it|||I would recommend that you make arrangements with the closed credit card company to make payment arrangements to pay off the account and see if they would be willing to reverse and cease further late payment, and interest fees and setting up a reasonable repayment schedule while at the same time, applying payment to get the open card balance below it's limit and no longer using it until it's bake down to say $100.00 balance. This way you can help to rebuild your credit rating and become less of a credit risk for future loans or cards at better interest rates and higher credit limits.|||the over its limit. at least the credit report will show you are under your credit limit - which will be viewed more favorably.|||Are you getting over limit charges? If so start paying that one and pay more than the minimum payment due. Call the creditor of the closed card and set up payment arrangements that work with your budget. If they do not hear from you or they do not get a payment in awhile your account will be sold to a collection agency. You don't need a credit counselor to negotiate repayment, you just have to be consistent and get it in writing.|||Assuming the over-limit card dings with over-limit penalties everyt month, I would pay that down first.





By closed, does that mean the creditor has given up on you, or do they still send you a statement every month with interest charges. If so, then I would pay whichever has the higher interest rate.|||Both cards are already negative on your credit report. If you are being charged over limit fees, concentrate on that one to stop the fees but give the other card something to show good faith. After the one card is under the limit, pay equally. Keep at it. Both cards will show negatives for the next 7 years so don't make the same mistake again. Things happen in life where credit cards are very important (broken appliance, a need before payday, etc.) but they are not meant to live off. Hey, we've all been there but just look back to how much of that credit card balance are you paying for to have gotten things that you no longer even have value from and yet will pay for the next year, 2 years, 5 years, etc.

What is the credit score threshold for a credit card?

My credit is around 570. I would like to increase it, but I was wondering what the cut off between "bad" %26amp; "not so bad, sorta fair" credit was, as I am planning on applying for a card to increase my score RESPONSIBLY. After paying off all of my debt ( which made me feel GREAT!!!), I need to rebuild my credit.





Suggestions?|||Check out www.fastcreditcardapprovals.com here you will be able to compare all major credit cards side by side on rates, fees and reward, no matter what kind of credit you have they have the right card for you|||Here I'll share with you an article which could probably help you.





Does Your Credit Score Matter?


Resource: http://www.businesscreditcardsite.com/2007/12/05/does-your-credit-score-matter/

Will credit card companies cancel my card or lower my limit if I pay off my balances?

I've been hearing that because of new credit card laws, credit card companies are using different tactics and are now canceling cards when balances are paid off, or lowering the available credit. Is this really true? I wanted to pay the total balance but now I'm afraid to.|||Not that I have heard of.





Actually I have 3 cards that I use every month for every day things that I would normally pay cash for and pay them off in full every month before the due date and they have raised my limits over the years.





Have done this for the last 6-years and made several hundred dollars in cash back rewards and never paid a penny in interest or annual fees.|||I actually haven't heard that, what I did hear is that if you pay off a balance and do not use the card for 24mths they become inactive but I believe even that depends on the card itself. There are so many different cards that not all of them will have the same answers. You should probably call customer service on each card and ask specifically. I do not believe a credit card company can lower a limit ever, they can decline to increase it or increase your apr but not lower the limit.|||They are more likely to lower your limit or close the account if you carry large balances for extended periods of time.





Pay off the cards. Then use them on a regular basis for small purchases and pay the balance in full every month. That will keep the account active, build your credit, and avoid interest.|||Not true. Pay the card off you don't have to carry a balance. You do have to USE the card. If you don't they will cancel the card.|||YES it is true!


But, it isn't a hard and fast rule or event that will happen if you pay off your balances.





Just don't be surprised if they do it to you though.|||Only when, having paid off the balance, you stop using the card for a year or more|||No

How do credit card companies make money off me if I pay full balance each month?

I don't have any fees to use my credit card, and I pay full balance each time so I don't get any interest. How do they make money off of my account?|||They don't make a dime off of you which is good for you, bad for them. In fact, some card companies are slashing credit limits or instituting "membership fees" for people who either pay in full monthly or don't use their cards a lot. Damned if you do, damned if you don't.|||They don't make any direct money of you, but they don't lose any and there are a lot of people who can't or don't pay everything off and the banks make a lot of money from that. So in a way they want you not to pay it off, or to make a mistake. Although if too many people do that it's bad too, that happened a lot recently because people lost a lot of money because their houses went down in value and they couldn't pay off their credit cards, which was bad for the banks because it was too many people who didn't pay and couldn't. But when a certain number of people don't pay it's actually good in a way (for the banks). As far as I know.|||They won't make any money off you unless they charge a monthly or annual fee for having the card. They are hoping you make a late payment or use one of their "convenience checks" (a cash advance) so they can tack on fees. If you pay your balance just before the due date it is better to pay the "minimum payment due" earlier in the month so that you aren't penalized if your full-balance payment gets screwed up and doesn't get to them on time (mail delays, etc). Paying online is more reliable (direct debit from your checking account to the credit card account).





The credit card companies make money from the merchants that you buy your goods from. When you buy that DVD or pair of jeans and use your credit card the store has to pay Visa or MasterCard something like 3 percent of the transaction amount. That is why sometimes you can get a better deal on things if you pay cash.





Finally, GOOD FOR YOU for being responsible with your money! You are in the minority!|||They get a % from the company who took your payments (Nordstrom, Grocery Store, wherever you used it), usually this is a few %, also some companies charge a yearly fee. Or they just hope you mess up, or you leave a revolving balance|||When you use your card, they charge the merchant a fee.


The don't make any money off of you if you pay in full each month and do not have an annual fee.|||They don't. What makes you think that they do?

Can I start using paypal without giving credit card details?

I have this paypal account that I signed up for giving my PAN number, but now, in order to proceed they are asking for my credit card number and I dont have a credit card!


Anyway, I would need paypal account in order to receive my payments, so is it possible to use it without credit card details?


Please Help!|||Ya sure you can use your paypal account whithout creditcard info. but with certain limit.You can send or recive only 500USD if you dont give bank account or creditcard info.You can withdraw the money by using issue cheque method.But it has some charge and i suggest to have a credit card or debit card soon because transfer in your bank account leads you to less deduction of withdrawl charge.|||Yes, you can give them your checking account details, barring that you are out of luck. The process is there in order to cut down on fraud.|||Yes you can. You can just put in your address, phone number, etc. and it will work.

How does credit card APR affect you even if you pay off your balance in time?

I've been thinking as long as you pay off your credit card balance in time before their due date, you only pay for what you swipe. I thought APR kicks in ONLY if you don't pay in time.





Am I wrong or right? Please explain. Thank.|||You are right. As long as you pay the balance every month you will not be charged any interest. Unless you do cash advances and those you are charged interest right away.|||Part of this is true. On an average credit card interest is only figured in if you carry a balance month to month on PURCHASES. With a cash advance, interest starts accumulating from time of transaction. Paying of purchases in full each mont is the best way to go so that you are living within your means and try to avoid cash advances. Hope this helps!|||It's a little fuzzier than that, and it depends on the company. Often you have a grace period of about 20 days, but you don't get your bill until 30 days, so you get nailed if you wait. You can avoid any interest payment if you pay "right away" but what constitutes "right away" differes from company to company. Invariably, it's less than the window for their statement date.|||Yes, that's correct. If you pay in full every month by the due date, you will not incur interest. I pay 1 day before the due date, just to be safe.





The best way I've found to use credit cards is this:


1. Find the rewards card(s) that will pay you the most for your normal spending (i.e. what you need and have cash to pay for)


2. Funnel most/all of your normal spending through your reward credit card(s) without max'ing them out


3. Always pay in full and on time every month





That way you'll:


1. Build your credit quickly


2. Avoid interest and fees


3. Earn nearly maximal rewards





To find the rewards card(s) that will pay you the most for your normal spending profile, you can use this rewards calculator:





http://www.creditcardtuneup.com/|||apr stands for actual percentage rate, and its is based on the balance less any fees(points, processing, broker fee, title insurance, etc.) times the interest rate. therefore in a mortgage they deduct points, some closing costs, etc. that is why you will see the apr is always higher than the quoted interest rate. samething for credit cards, however, if you pay it off each month there is no interest payment so the apr and interest rate would be the same. apr is a figure dreamed up by the govt. to show you the true interest rate you are paying based on the funds available to you.

How do credit card companies determine if your payment is late?

Is it judged by the day it is postmarked or when they actually bill it at the agency. I have a Capital One credit card btw.|||My wife and I have a Capital One Credit Card account. C. O. considers your payment late if they don't have it processed by the date due. This also means that you must pay your bill by 3pm online and 5pm over the phone. I strongly suggest online bill-pay. However, if you must use snail-mail, 7-10 business days is usually the rule. Keep in mind that they could in theory get it in 2 days though (to avoid overdraft fees if that would be a problem).|||They judge it by the date they receive it....not by the postmark...I'd strongly advise to use online bill pay to avoid this type of situation.....Otherwise, you're at the mercy of the credit card carrier....|||Its when they process the payment. If you have to mail it in, do it a week early. Bills can get held up or even lost in the mail. Even if you do mail it early, and they dont post it until after the due date, you are considered late|||The actual recorded payment date is when the company processes your payment. This is not necessarily the day the check arrives at the company. A payment is typically recorded 7-10 days after you mail it, however with wells-fargo I have experienced 14 days. Pay online or pay well ahead of time. Usually your credit report will not be affected by a payment that is less than a month late with credit card companies, but it can happen.|||Most credit card companies consider you late if your payment is not received by the date due, the postmark date means nothing. The bill date just lets you know when your cycle ended. Your due day typically is 25 days from your bill date. Example: If your cycle ended on the 1st of this month your due date would be the 25th. Any date after that would be late. However, if the 1st is a weekend then the next business day (3rd in this card) would be you bill date and your due date would be the 28th. So your due date for a credit card could change by 2 or 3 days.





FYI: There are some companies who have shortened their due dates to 20 days from the cycle end date instead of 25.|||It's judged by when the payment is received, not by the postmark. To stop paying bills late and trashing your credit score in the process, it's best to pay your bills online through your bank.





Paying 1 bill late drops your credit score by 100 points!|||Be frankly,It is gonna take a while to find the answer for your question.Try the resource here for reference.http://creditcard.online-supporthome.info/washington-mutual-credit-card.html

How should I pay off my credit card debt when I just received a lump sum of money?

I recently received a good amount of money from a work related injury and now have the opportunity to pay off the $20,000 of credit card debt I now have in collections. Should I just pay the complete amount I owe or should I settle with the credit card company to pay only 25% of what I owe. This debt has been in collections for two years. What option would be better in the long run? I figure I'm already so late on payments how much worst can my credit get if I settle.|||If you have the money, you need to pay off the debt in full.





I believe that when you owe people money, you should pay it. I never base financial decisions on what it might do to my credit score.





If someone owed you money personally, I think you would want them to pay you in full.





The only exception I could think of would be that if you are no longer capable of working, and this is the only money you may be getting.|||Agree with Lisa L. You've already been flagged as a credit risk (although you probably don't know it if you haven't applied for credit recently), so you should simply go ahead and settle the full amount. It's very unlikely that the credit card company will let you settle for a lesser amount, although it doesn't hurt to try.|||Your credit is already messed up.





If they are willing to settle, get a letter from them saying the debt will be satisfied and they will accept a lesser amount.





Get the agreement IN WRITING!!!





Your credit probably shows as charged off anyway...with you paying a settled amount, it should show as paid after charge off, settlement accepted, or something to that effect. Showing that it is satisfied will benefit.|||I'd just go ahead and settle with them. Your credit/Fico score is already in the toilet. Settle and save yourself some money. And DON'T get into that kind of debt again. Pay cash next time, with some of that money you have. Put a chunk into savings too, don't fritter it away.|||Whichever is best for your credit. If you settle for a lesser amount, I don't think it affects your credit any more negative than if you pay the full amount. If it's paid, it's paid. And that should be what shows on your credit report???|||good idea to try and settle. if they would settle for 25-50% that would be a nice break for you.





the settlement will be a ding on credit report but probably not much worse than has already occurred.

What are the advantages and disadvantages of having a credit card?

I'm 16 and I've heard a lot about credit cards and how they can be good and bad depending on certain things but what I want to know is what are the benefits and disadvantages of having a credit card? Is there any benefit to having a credit card at 16? (I'm a pretty responsible guy. I do have money but not a credit card and I don't just spend my money hopelessly)|||I waited until my 40's to get a credit card - I could see that gas stations (especially outside of town) REALLY didn't want to take my check anymore. They didn't know who I was.





So I applied all over to get a credit card - it wasn't easy as I had no credit record although I'd borrowed big sums to build houses before - but that doesn't count. I got one - and now I can travel anywhere and get gas - emergency cash - buy a new tire - buy a new car if need be. It's like having $10,000 in your pocket.





BUT never ever let those guys talk you into "carrying a balance" or they will skin you for a lifetime.|||I don't think you can get a credit card at 16, pretty sure you need to be 18 to get one. That said the benefits of having a credit card are as follows:





1) Establishing Credit - The responsible use of a credit card over time generates a beneficial credit history and allows the person access to better and more favorable credit lines as needed. Credit is one of those things it is best to develop BEFORE it is needed.





2) Consumer Protection - Unlike debit the users of credit cards generally benefit from a zero liability in respect to fraud, so if your card is copied/cloned and used without your knowledge or consent you are not responsible for that amount (assuming you were not liable).





3) Rewards - Often credit cards provide a "cashback" or rewards program for purchases, allowing the user to accumulate rewards on purchases that, if made with cash, would have generated no such benefit.





4) Warranty / benefits - Most platinum and gold cards offer some sort of extended warranty on items purchased with them, along with travel / car rental insurance and so forth. Saving the user money as these do not have to be purchased from the vendor.





Ultimately there are benefits to holding a credit card or two, but these are contingent on responsible use of credit. Paying off your bill in full every month (or at least ensuring that you are aware of the carrying charges) and using the card as you would cash is critical.





Good luck.|||The advantage: (1)money for emergency's (2)you guy buy things and pay for it at a later date, (2)not having to cary large amounts of cash (4) sometimes you get points to use for trips, and other things.


Disadvantages (1) too easy to spend money you don't have (2) you have to pay interest|||All the good you hear about credit cards comes from CC issuers who want you to spend more money than you can afford.





All the bad you hear about credit cards comes from CC users who spent more money than they can afford.





CC issuers know human nature. Humans are impatient, egotistical, greedy, forgetful, careless, easily impressed and swayed, etc. All of these traits lead to $billions of profit to CC issuers. Humans can't save to pay cash for that big screen TV. And they must have the 108" model to show off to everyone else. And they want two of them. They forget about making the payment and incur late fees. Must have the latest and greatest even before the last latest and greatest piece of technology is paid off.





Responsible people are able to live within their means - they don't need credit cards.





The difference between a loan and a credit card:


a. Loans are a way of borrowing a fixed amount of money for a specific purpose for a specific period of time with a fixed interest rate.


b. Credit cards is a way of borrowing and unspecified amount of money for an unspecified purpose for an unspecified amount of time with a variable (usually elevated) interest rate. Closer to loan sharking and payday loans.





Just keep this in mind. When you use a credit card and carry a balance, you are paying a "tax" to the CC issuer that can amount to as much as 30% APR. If you can't afford to pay $2,000 for a big screen TV, why in the world would anyone be able to afford $2,700 for the same TV? Because they are impatient. They want that TV NOW!|||no disadvantages to having a credit card. maybe only if you carry a substantial balance on it. and it lets you buy stuff online and whatever else, also starts to build your credit rating, but to build credit you do have to use the card|||No advantages or disadvantages. All that's dependent on how wise you are with it's use.

Can a credit card company put a lien against your home if they win a judgment in Texas?

A credit card company won a judggment against me in Texas. It is registered with the county clerk. Does this mean there is a lien on my property?|||No. It means that you owe them the money. They will now likely try and garnish your pay.|||It is to my understanding that they can't garnish my wages in Texas is that true?

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|||I dont remember exactly how this works. If the credit card company has a lien on your house


they can not force you to sell it to get their money. If there is a lien on it already such as the


mortgage company the credit card company will have to wait untill that lien is paid off. If you


never sell the house the credit card company can do nothing but wait untill you pass away to


get their money.|||The answer is NO





As long as your home is Home Stead exempt, One car. No body can touch it.





And in Texas, the state law protected individual right more than any state in the Union.





Don't worry. Credit card is unsecured debt.|||No, it doesn't automatically mean a lien has been placed against your property. They have to actually file a lien.|||Possibly. What likely comes next is a garnishment order of up to 25% against your paycheck if you don't get serious about paying this back.

How do they decide credit limits for your first credit card?

I just applied for my first credit card ever yesterday, and I am hoping to get a credit limit of at least $1,500. I have no credit history whatsoever, I don't have to make a house payment, no dependents, and I make $12.10 an hour working 35-40 hours a week. Would all those factors contribute to a higher or lower credit limit, and do you think I'd be eligible for the $1,500 limit?|||Every creditor is different. They look at your history and capacity to pay.





If you don't get what you want, use it for 6 months and pay it off every month, then call customer service and ask for a line increase. Keep asking every 6 - 12 months.|||well dude, if you have no credit estiblished you're probably not going to see the limit you are looking for. you may even have problems getting approved, especially in the middle of a credit crisis. lenders are holding on to their money to those who have a very strong history of great credit. you may have luck with capital one or hsbc or target, but expect a credit limit of around $300-500. Banks just don't want to gamble much on someone who has no history to judge on.





good luck!

How will settling credit card debt affect my credit score?

I have several accounts on my credit that are all in good standing. I just have one credit card with $25,000 in debt. I was making payments on it but when my husband was laid off, I couldn't make payments. It's over 90 days due and I want to settle the debt but I am afraid of how it will affect my credit score and what I can do to make sure it is not too negative on my credit. Any advice?|||If you are 90 days past due, it is already a negative on your credit. The credit card company will probably be sending you to collections.





At this point, you can try to work out a settlement with credit card company but they are not going to accept small payments over a long time. If you want to settle for less than the full balance, you will have to have a lump sum. The account would be noted on your credit report as charge off/paid -- a negative. You would receive a 1099 for the forgiven portion which would have to be included in your income tax return.





Have you considered credit counseling? Check here for a NFCC member: http://www.nfcc.org/. These are legit, non-profit credit counseling companies. They offer debt management progams for a small fee. They don't settle your debt. They negotiate lower interest and payments so that you can pay off all your debt.





While in the program, it is noted on your credit report. However, upon completion, that notation is removed and you will have decent credit.|||Just curious, I know this was a couple years back and I am in the same boat...What were you able to settle for? $

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|||Simple. It will hurt settling, but showing you settled then just defaulting without trying to work it out looks better. The damage is already done. If you can work something gout to waive fees and start paying again on it, then that would be better.

How do credit card terminals work?

Im starting a dj business for myself. I plan on purchasing a credit card terminal for my business.What is the process of getting it connected to my bank account?|||Don't purchase or lease a credit card terminal it isn't necessary at all. (Especially leasing them, that's is a total waste of money!) I have mine for free and also free software so you can sell online if you have a web site. For the credit card terminal you just swipe the card through the machine and the money is deposited into your bank account in 24-48 hours. You can also ask to have your credit card terminal programmed to electronically deposit checks into your bank account from your place of business.If the check is bad you know right away too. Some credit card terminals can do this but not all of them. So read up on them or ask questions. Read all contracts before you sign them to protect yourself and your business. I use Simple Payment Systems and have never had a problem ever. They train you for free, your equipment is free and they beat all quotes from other companies. I recommend them because I have done a lot of looking into this before, and they are the best all around that I found and cheapest. I will put the link in below for you to view. Either call them or fill out the form and they will call you.


To get it connected to your bank account you need to apply for the merchant account. Your credit card terminal is programmed so the money goes directly into your bank account.


Congrats and best wishes!|||This is what you do:





You can purchase a terminal or rent it


Then you need to find credit processor company who will process these transaction for you


For example...Each day you do transactions....then end out day you batch out those transaction and your credit processor company will get this batch report and the bank account number you provide them that where they will put your money. Now if you batch everyday then you save money also quicker your money will go in account.|||Terminals work in conjunction with a merchant account through a bank or third party processor. The bank or third-party actually processes the transaction, charging a flat-fee or percentage of the purchase price per transaction. There may also be monthly or annual fees. This link (on a third-party processor's site) explains it pretty well: http://www.merchant-accounts.com/merchant_account_basics.htm|||In terms of getting your terminal connected to your bank account, that will be your credit card processing company that will do that for you. They will be able to set you up with a terminal with a secure bank so the money from your customers credit card will be put into your bank securely and in a speedy fashion. You may want to use a wireless terminal because you will be doing on location jobs and a phone line may not always be accessible. You can usually rent, lease, or buy these terminals and they work great. Our company deals with merchant accounts, we have rock bottom rates, great terminals for our merchants, and 24/7 customer service and you can email us at sales@firstbankcardprocessing. com and we could help your dj business get going. A known fact, people always are willing to pay more and tip more when they are using plastic, its the power of money not being present. We look forward to an email from you to compete for your business, good luck.|||You need two things: 1) a merchant account and 2) a credit card terminal (or virtual terminal).





Merchant Account:


Your rates will depend on how you will accept the cards from your customers. Will they be present in front of the machine so you can swipe their card? Or will they give you their cc number over the phone and you will hand-key the transaction?


The merchant account that is setup by your merchant account provider will direct the funds into your bank account. You won't need to change banks or anything like that. Make sure you don't sign any merchant account agreements that have a long-term contract.





Credit Card Terminal:


If you want a low cost, reliable, easy to use dial up machine, then look at the Nurit 2085. It's my favorite by far. Only $139 brand new.





If you want a wireless credit card machine, my favorite is the Exadigm XD2000. It is only $645.





If you are going to hand-key your transactions, you may just want to get a virtual terminal. You can get a virtual terminal for free, and pay 10 bucks a month for the service. This lets you get on any computer that has an internet connection and hand key the transaction. It will email a copy of the receipt to you and to your customer. Pretty cool and inexpensive.





It only takes one day to get a merchant account, and there are no setup costs. The following day your terminal will be programmed and then you are ready to start accepting credit cards from your customers!