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April 3, 2009

Bad Credit Mortgage Home Loan Personal Dept Consolidation Refinance Credit Card Auto Loans Car Loans And Many More Type Of Loans Visit Us Now And Apply Online Guaranteed Approval

Cayenne127925 asked:

Bad Credit Mortgage Home Loan Personal Dept Consolidation Refinance Credit Card Auto Loans Car Loans And Many More Type Of Loans Visit Us Now And Apply Online Guaranteed Approval Even if you have bad credit, there are still agencies that will issue you a card. These companies have significantly…

March 4, 2009

What exactly is an installment loan and how do you get one?

Filed under: credit — Tags: , , , , , — admin @ 11:35 am
Matt asked:

I’m 18 and trying to build credit, and I’m looking to get an installment loan.

Would it be a type of loan where I would take out, say, $1000 and put up $1000 of my own as collateral? I know that I pay it off over a set amount of time at a set interest rate.

I’m just wondering if it’s the kind of loan where I would put something up as collateral or how does it work?
I already have a credit card.

January 21, 2009

Finding A Right Credit Card

Filed under: credit — Tags: , , , — Gary Antosh @ 1:27 am

In today’s world, it is common for most people to have at least one credit card. It allows for ease and speed, when shopping in a store or online. Merchants will more than likely accept many types of credit cards, allowing you to get what you need.

It does not matter where you happen to be shopping, most stores accept some sort of credit card. It makes for ease of the transactions to be processed. You do not have to worry about not having enough cash, because a credit card will go through as long as you have not breeched your monthly limit. This is a great way for the store to retain customer business and to encourage consumer spending.

You will find that online shopping is made much easier by using a credit card. You can rest assured knowing that it is very easy to use your credit card securely when making an online purchase. You do not have to worry about writing a check or purchasing a money order, your merchandise will ship more quickly when using a credit card.

When traveling throughout the world, a majority of locations will accept credit cards. This can give you peace of mind as a traveler, when you do not have to carry large amounts of cash that can be lost or stolen. It is a good idea when traveling to alert your credit card company, so that they are kept apprised of the apr rates and purchases you will be making in another state or country.

You can travel with confidence knowing that the credit card you carry will be accepted all over the world. You are protected and can purchase freely with confidence when you have a credit card. You will be able to make the purchases you need with no problems.

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January 12, 2009

Advanta Credit Card Scam

I sit at my desk completely frustrated with Advanta. I opened up a business credit card with them 3 years ago and made a purchase of $6500 to help build my business credit for Rapid Recovery Solution, my Collection Agency. I have paid more then the minimum every month, on time. About 3 months ago noticed that my interest rate seemed a little high. No where on my statement did it say the actual interest rate so I called the company. After 10 min or so I get a live rep on the line and they tell me it is 36.1%. Are they kidding, this must be a mistake. I have over a 750 score and never missed a payment. They said they sent me a notice in Aug that they are doing this due to a change in there lending methods. It turns out this is the second time this year they did this. I went from 8.99% in Jan 08 to 18.99 in Feb 08 to 36.1% in Aug 08.

Now, being in the industry for over 10 years I know that I need to watch my credit. I look for charges I didn’t make and it is tough to scam me. I have seen it all but this takes the cake. They told me I am now at a high risk for default so that is why they raised my interest rate? That doesn’t make any sense. They should lower my rate if they think I will default on my credit card. How will an increase in what you are charging me keep me from defaulting. Luckily, I have the ability to pay off this card today but I want everyone to realize that these companies have you by the short-n-curly’s. Watch your statements and lookout for this scam.

FYI, In NY, the maximum interest rate is 30%. They are charging me more then the maximum allowed in my state. I will send a letter to the BBB, the NY Attorney General, the UT Attorney General and the Department of Consumer Affairs.

As a nation we are in deep trouble. If a credit card company can just raise my rate because they feel like it I am positive that 99% of their customers are also paying 36.1%. How many other credit card companies are doing this to innocent people? We need to fight back. I am going to tell as many people as I can.

Unfortunately, there is nothing we can do except payoff the card. I was told I am a high credit risk. I paid the bill in full after I realized the rate was so high and the next month I received another bill for more finance charges for about $255. I paid that bill in full. I just received another bill in the mail for $5.65 and my rate was changed to 37.99%. Another point higher.

I had a few minutes so I called again to see why the rate went up again and they said “Sir, you have been classified as a very high credit risk and as a company we can’t risk you not paying your bill with us.” I said “I just paid my bill in full with your company, I have never had a late payment with your company in three years, I have one mortgage on my house for $290K, 25 years left at a fixed rate of 5.375% and it is worth over $500k and almost zero credit card debt personally. I am in the fastest growing industry right now, CNBC expects the debt collection industry to grow at 25% a year for the next decade. What else would I have to do to receive a better rate?” The extremely rude lady said “Sir, you would need to send a letter to Santa Clause and maybe he can help you out.”

The Government should put a maximum rate in place for the next year or so on all credit card debt. If the credit card companies are truly worried about consumers defaulting on their obligations, wouldn’t it make more sense to lower the rate so we can continue to make the payments? By raising the rate, it only makes it harder to pay and more likely that a consumer will default. The credit card companies are preying on the weak right now hoping you don’t pay so they can pound you with the highest interest rate. When you do default, they now have a higher balance to sell to a collection agency. In my eyes, this is a crime.

The Government doesn’t care either. Instead of giving the banks 350 billion dollars, They could have sent $1151.98 to each US citizen to pay towards credit card debt. The banks still get the money but we the people get a little break on our bill. The average family of four would receive $4607.92 to pay off a credit card. They reason that the banks need the money so they can lend money again to us? Are they crazy? All the banks did was raise the interest rates on our cards and pocket the money without ever having to say what the money went towards. No accountability!

Now the geniuses in Washington are considering giving billions to the auto industry so they can produce more shit cars that we can’t afford. How about giving the money to everybody with a current auto loan so we can pay for the car we already have. The money would still flow to the banks and auto makers via we the people.

Good luck America, your gonna need a miracle.

I feel better now. I was very upset prior to writing this blog. I hope everybody reading this realizes that if it can happen to me it can happen to anybody.

John Monderine Rapid Recovery Solution, Inc.

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December 29, 2008

Airline Miles Credit Cards

Filed under: credit — Tags: , , , , , , — Gray Rollins @ 1:35 am

There are many people who do a great deal of traveling by air frequently. Many of these frequent fliers use airline miles credit card to get their reservations done. With these cards you can even earn a free ticket if you travel a lot. Different credit cards offer different kinds of returns. If you are planning to get one such credit card then you must be sure that you select the card that is most suitable for you. It should offer great returns for its use. For all the travelers who travel regularly, this kind of frequent flier credit card is definitely a must.

Whenever you consider getting a credit card like frequent flier card, you have to make sure that it fulfills at least two basic requirements. You must see that it offers airlines suitable to you for redeeming the miles. It should also be able to quickly earn you the miles so that there is not a very long wait for you to redeem them. If these two conditions are met, then you can safely decide to go ahead with the said card.

Besides these two points, you must also find out if the specified airlines have a hub in your area. If the hub is there, you can go to the airport available in the options of your card without much problem. This will not only be more convenient for you to use but you will also be able to use the miles more often. Wouldn’t you want it to be very efficient and provide you maximum economic benefits?

You will also want to know what the stipulations are for when you redeem the points or miles, as you do not want to jump through hoops just to cash in on your free travel. Chances are, if you are going with an airline miles credit card that is with a major airline, then you will be just fine as they all pride themselves on taking the best care of their customers.

There are lots of businessmen who are already using these kinds of credit cards. Because of their jobs, they keep traveling a lot and this enables them to complete the required miles very quickly. Thus they earn many free trips all through the year. If you belong to this category, you make sure that the card you get should be affiliated with the airlines that you generally use for traveling.

The Delta Sky Miles Card is one such card that has become very popular these days. The main attraction with this card is that Delta Airlines can be found all over so there is no problem in finding a hub that is near your place. They offer lovely rewards such as giving 1,000 bonus miles with your very first purchase. Not only that, they also give bonus miles per year if you spend $5,000 or more that year.

Another feature contributing to its popularity is that there is no annual fee and for every eligible $1 you spend with Delta, you can earn 1 mile. For every $2 you spend on other purchases, you automatically get to earn 1 mile. People find these lovely offers very attractive and that is another reason why more and more people like to use this card. These facilities definitely make it a popular choice of many travelers.

If you are looking into getting a rewards credit card that will give you the most and you like to travel then you will want to look into getting an airline miles credit card. This will benefit you greatly as long as you get the right kind of card and you use it frequently so that you can rack up the free miles.

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