Month: October 2016

How to Opt Out of Credit Card Solicitations

Irritated by too much credit card solicitation? Been receiving too much junk mail and too many unsolicited phone calls? This is a common scenario faced by many Americans. In fact, a recent research conducted by the Federal Trade Commission indicated that as many as 25 million adults in the country are victims of fraud.

Nevertheless, there are several approaches that you can take to prevent yourself from being a victim. Realizing the plight of many Americans, the Federal Trade Commission has set up the National No-Call Registry to allow consumers to register with them if they do not want to receive any solicitation over the phone. All consumers need to do is to complete an online form available at Once your name is in the registry, any company that utilizes telemarketing for solicitation will not be allowed to call you. This will be enforced within 31 days after you have registered.

If you are also receiving lots of junk mail with pre-approved credit through your mailbox, there are a few ways to put a stop to these relentless direct mailers. One of it is to visit, an official website belonging to the Consumer Credit Reporting Industry developed to help the public opt out from credit card or insurance offers. By registering here, you will be provided with the option to be opted out from any direct mailing offers either for the next 5 years or even permanently. Conversely, there is even an option for consumers to be opted in for direct mailing offers.

There are also 3 credit bureaus that you can get in touch with to get yourself opted out. They are: Equifax Opt Out, TransUnion Opt Out and Experian Opt Out. All you need to do is to write to these 3 credit bureaus notifying them of your preference not to have your personal information shared out for promotional purposes. Once the process is complete, your name will be opted out for the next 2 years.

Finally, you can also write to the Direct Marketing Association and inform them that you wish to be opted out from any direct marketing promotions. All you need to do is to provide them with your personal information so that they can remove the right name from their list. All in all, opting out of mailing lists may require some effort from your part, but it will all be worth it once you stop receiving calls from telemarketers and junk mail in your mailbox

What Is a 0 APR Credit Card

Its like the search for the Holy Grail. Before the days of King Arthur and the roundtable of Camelot, people have hunted for this holy relic and its promise of eternal life. Just the same, consumers the world over have searched for their lives for the holy grail of the credit card world: a card with 0 annual percentage rates, or no interest at all. Such a card could provide eternal shopping, and a life without fear of debt.

The reality of the situation, however, may be slightly different. Dont get us wrong. A card with 0 annual percentage rate is a beautiful thing. It allows you to carry debt on the card without fear of swamping your finances with interest payments. On the other hand, the 0 annual percentage rate is not a free ride to spend to excess. After all, most of these 0 annual percentage rate, or 0 APR cards, have a time limit. The carriage, so to speak, eventually turns back into the pumpkin, and then you could be left holding the bag with a maxed out credit card and a new APR of, say, 22 percent.

So, what exactly is a 0 APR credit card? Is it such a great deal anymore, or should you not chase after the holy grail? It depends, as with any great decision. If you plan to be making a lot of heavy purchases soonsuch as to decorate a new houseyou may want to find yourself a 0 APR card, but do so with the understanding that you must be able to pay that baby off when the 0 annual percentage rate special wears off.

Dont just jump at any 0 annual percentage rate card, though. There are always other considerations to make when youre on the market for a new credit card. For instance, how widely is the new card going to be accepted. If you travel a lot, this is important to know. MasterCard and Visa are the two most widely accepted brands of cards on the market, with 17 million and 16.2 million locations respectively.

And of course, every credit card now has a rewards program. What sort of rewards programs would suit you bestone that involves cash back and discounts on every purchase, or would you rather earn points toward travel and other prizes? Plus, no matter what the rewards are, compare the ratio of earned points to dollars spent. The higher this ration, the better the rewards program is, no matter what the rewards are.

Lastly, check the fees on these 0 APR cards. Is there an annual fee, a cash transfer fee, late fees, stiff penalties, etc.? These also could help you make up your mind about the card.

Quick Fix to Bad Credit Score

A bad credit score is one thing that financially independent individuals should avoid. This is detrimental in many aspects of their financial lives. For instance, a bad credit score can void them of good jobs. This may sound unbelievable but indeed it is true. Many employers seek out those potential employees who do not have uncontrollable debt. This is because a bad debt can rid a person of his concentration. At work, an unfocused employee can cost losses in profits. This person would not be able to perform well thus possibly dragging the company down with him.

Another bad result of an undesirable credit score is disapproval of loans. Loans are critical for building ones life. A person needs loans for buying his own house. He needs it for owning a car, putting up a business and more. But with a bad score, all of his goals may not come true in a smooth manner. He can get approved on such loans only when his score is above 700.

A bad credit score is brought on by unpaid bills or late payments. This is usually the case in a massive credit card debt. People apply credit cards promotions and get hooked on spending. Before they know it, they are in too much debt. A lot of people disregard their pending payments. They only get surprised when they apply for a loan and their credit reports are shown.

However, there is a quick fix they can do to change their fate on loans. Note that credit bureaus have a method of scoring. One way is by checking a persons recent payment history. It means that what matters in their scoring is the recent payment activity of a person. Therefore, an individual can up his credit score by making recent on time payments.

For his credit card bills, he can opt for credit card balance transfer. When all of his credit card debt is in one place, he can make efforts to pay on time. It wont be as hard this time because of only one bill and one interest rate. Utility bills also matter so he should always look out for the deadline. He should pay before the due date just to make sure. Also he can cut off some of his unnecessary spending. This way he would have extra money for the payments.

Doing this for at least six months can increase his chances on a good credit score. After which he can then take on some loans.

Card Counseling & Credit Debt Services – A Must in Modern Times

Credit card debt is overtaking our country, and due to the recession, the majority of folks are charging more. While it is not unusual, still, the point is going to come that it’s time to pay back all of these debts and when that occurs, optimistically those who have charged a lot due to being short of money will possess what you require to repay the debt.

On the other hand, if you’re one of the thousands of Americans who discover yourself in tough circumstances when the time comes for payback, then it’s time to gather debt consolidation information from any resources that you can locate.

When taking into consideration what debt consolidation sources to make use of, the primary action that you should take is judge the source. Where are you getting the facts that you are using, is it a legitimate source? You may get a great deal of information regarding debt consolidation on government websites, that are extremely trustworthy sources in that their facts will be impartial and won’t lead you to a particular corporation.

You’ll find out in depth about the 2 distinctive types of consolidation: credit counseling services and credit card consolidation loans. These are 2 vastly different plans. Taking a loan means just what it says, but, if you have lots of debt or bad credit you might need to put up your home as collateral or obtain a co-signer to obtain the loan, and that may not be ideal.

With credit debt counseling services, you permit a business to bargain with your creditors to get decreased payments and to lower your interest rate. The disadvantage with this is that you must close all credit accounts or the service won’t work with you. This also shows up as a black mark on your credit report, while it’s not as bad as if you do not pay your debts.

There are a few other alternatives which might not show up in your credit report such as credit card debt settlement, which is paying a business to settle on lump sum payments with your creditors at a lesser value than the amount you owe. One more is to simply do it yourself, with no assistance from of any negotiator. The advantage here is that your credit will not be affected as long as you keep up making the payments on your accounts. The eventual target for any of these programs is to pay off your debt as fast as possible.