Best Credit Card

Archive for the ‘Bad Credit’ Category

Fair Debt Collections Practices Act

Posted on August 10th, 2010 | admin

Know Your Rights: FDCPA

The FDCPA, or Fair Debt Collections Practices Act, is a set of consumer protection guidelines. Third party collection agencies must follow these guidelines in their collections practices, and most companies that don’t outsource their collections activities choose to follow these guidelines as well.

The regulations set forth by the FDCPA vary slightly depending on what state you live in. For example, in some states you can only be called at work once a month, while in others you can be called at work every day. All states, however, allow you to verbally request no further calls at your place of employment.

If you wish to not receive collection calls at home, you have to put your request in writing. This is called a “cease and desist” letter.

The FDCPA states that a bill collector may not be verbally abusive, make empty threats, use foul language, or harass you. The FDCPA considers multiple identifying phone calls in one day to be harassment. This doesn’t mean that if a bill collector calls you and you don’t answer that they can’t call you back that day – it means that if the collector identifies their company, either on a voicemail or in a conversation, they may not call you back that same day.

The FDCPA also states what legal actions are available in each state. In Louisiana, for example, a vehicle is sent to the repossession department when it reaches 32 days past due. In most states, this does not happen until the loan goes over 60 days past due.

If you can prove that a company has violated the guidelines set forth in the FDCPA, you can seek legal action. If the collections are “1st party” (not a 3rd party collections agency), make sure the company has chosen to adopt the FDCPA regulations. Most companies have. For example, Citibank, Household Finance, and Capital One all have their own collections departments, but have chosen to follow the FDCPA guidelines.

To read about more about your specific rights under the Fair Debt Collections Practices Act, visit http://www.ftc.gov/bcp/edu/pubs/consumer/credit/cre27.pdf – You’ll need to have the Free Adobe PDF reader installed on your computer to read this.

This entry was posted in Bad Credit and tagged , Bookmark the permalink.

reduce credit card debt

Posted on August 10th, 2010 | admin

Getting A Handle On Your Credit Card Debt

Most of us have opened a credit card statement and said, “How did this happen?” It’s surprisingly easy to rack up a large balance on a credit card, and it is important to not let your credit card debt get out of control. If you think you owe too much, you probably do. Here are some tips to help you get back on top of your credit card debt.

Look for offers, such as 0% balance transfers. This usually entails applying for a new credit account and transferring your existing balance to the new card. With a 0% rate, your payments will go entirely towards paying down your credit card debt. Keep in mind, though, that these rates are usually introductory and for a limited time. Also, be sure not to miss a payment with any of your creditors, as the credit card company can then revoke your 0% rate.

For example, if you owe $5,000 at an interest rate of 14.99%, you would need to pay $451.27 per month to pay the balance off in 12 months. This equals over $400 in interest for the year. If the same $5,000 is transferred to a card with 0% interest, you could pay it off in 12 months with payments of $417.

If you can’t find any good balance transfer offers, call your credit card companies and ask them for a lower interest rate on your existing balance. As you already know, the lower your interest rate, the easier your credit card debt will be to pay off.

Most importantly, when you’re trying to control your credit card debt, avoid creating more credit card debt. This seems like common sense advice, but it’s where many people run in to problems.

This entry was posted in Bad Credit and tagged , Bookmark the permalink.

Eliminate Debt

Posted on August 10th, 2010 | admin

Avoid Getting Scammed by Debt Elimination Companies

When you find yourself with a mound of debt, debt elimination sounds enticing. While there are numerous legal ways to get out of debt, there’s an equal number of debt elimination scams on the market. Do your homework before paying anyone to help you eliminate your debt. Here are a few signs that the company you are working with may not be legitimate.

If they promise to eliminate your debt without you ever having to pay a penny to your creditors, it’s a sign that the company is going to try and prove that the debt you incurred is not valid. They will use a variety of tools to try and prove this theory, ultimately costing you a hefty fee – in some cases, a fee of $2,000 is not uncommon. The bottom line is that unless you’ve been a victim of some sort of fraud, your debt is likely legitimate and there is no way out of it. At best, you could work out a settlement with the creditor. Always avoid debt elimination companies that charge a large up-front fee.

If the debt elimination company or credit counseling company is soliciting you, consider it a red flag. Reputable debt companies will not try to earn your business through Spam or telemarketing efforts.

If the debt elimination company or credit counseling company is soliciting you, consider it a red flag. Reputable debt companies will not try to earn your business through Spam or telemarketing efforts.

This entry was posted in Bad Credit and tagged , , Bookmark the permalink.

Repairing Your Credit Score

Posted on August 10th, 2010 | admin

Not only does your credit score affect your ability to buy a house or get a credit card – it affects your ability to obtain vehicle insurance or rent an apartment. If you have poor credit, you might want to begin taking a few steps to repair your credit score.

Get a copy of all three of your credit reports. You will need a report from the three major credit bureaus – Experian, TransUnion, and Equifax. Not all creditors report to all three bureaus, so it’s possible that your credit score on one report might be significantly higher or lower than your score on another credit report.

To repair your credit score, you need to understand what’s on your credit reports. If you order your reports from the credit bureaus, they will arrive with a user guide. If you order your reports through a credit monitoring service, they will offer you assistance in understanding the credit information.

If you find any incorrect information on your credit reports, you will need to contact the credit bureau immediately so that they can begin an investigation on your behalf. Correcting invalid information is crucial when repairing your credit score.

Don’t overextend yourself. If you’re having trouble paying your current bills, avoid obtaining new credit until you get your finances under control. Try to keep your credit card balances below 50% of your credit limits.

Repair Bad Credit The Smart And Legal Way

Having bad credit is expensive. With a low credit score, you pay more interest for a house, a car, and credit cards. If your credit rating is extremely poor, you may not even be able to find a lender willing to extend you credit.

While repairing bad credit doesn’t happen overnight, it can happen by following a few steps.

Know what’s on your credit reports. Obtain a copy of your report from the three major credit bureaus – Experian, TransUnion, and Equifax.

Resolve inaccuracies on your credit file. Contact the credit bureaus in writing and keep a record of all of your correspondence with the credit bureaus.

Keep your spending down. Try to stay below 50% of your credit limit on all of your existing credit cards and avoid obtaining new credit.

Resolve any issues with collections, delinquencies, charge offs, liens, and bad debts. In these cases, contact the creditor and offer to work out a settlement. For pennies on the dollar, you may be able to turn a charge off into a settled account.

If you are having trouble paying your bills, call your creditors and ask for a debt repayment plan. If that doesn’t work, you can try contacting a reputable, non-profit consumer credit counseling service.

Don’t fall for a credit repair scam. While there are legitimate credit repair companies out there, there are an equal number of non-legitimate ones.

Don’t expect instant results. It’s easy to bring your FICO score down quickly, and it takes a comparably longer amount of time to bring it back up. Be patient while repairing your bad credit.

This entry was posted in Bad Credit and tagged Bookmark the permalink.

Secured Credit Cards

Posted on August 10th, 2010 | admin

Got Bad Credit? A Secured Visa® Credit Card Could Repair That Problem . . .

Has something gone wrong in your credit usage? Have you taken your once stellar credit rating and watched it fall? Now your other creditors are hiking your interest rates because of your poor credit! This really sucks!
Good news! You can feel secure knowing there is something that can be done because we’ve reviewed tons of secured credit cards and found a solution for you that will help you restore your credit, in fact you can get on your way to rebuilding or starting your credit rating. Secured credit cards are a great way to start piecing your fallen credit back together.

A secured credit card is exactly what the name says, it’s secured by a deposit you make to protect the bank in the event you default on your payments. A secured card works exactly the same way as a regular credit card only it requires that you fork over the cash up front.

So if you want a $1500 line of credit then you must place that amount in a security account. I know it sounds like a pain but it’s not as much of a pain as having bad credit.

Bad credit is a temporary situation when you manage your credit repair properly. All you need to do to repair your credit is apply for a secured credit card and simply make your payments on time each and every month. It’s that simple! Just make sure you get your payment to the bank as soon as you can.

Within as little as 6 months you can enjoy the perks that those with good to excellent credit enjoy such as cash back, travel or merchandise gift certificate rewards. However you’ve got to work on building or restoring your credit first

How Secured Credit Cards Work in Review

Step 1: You apply for a secured credit card offer

Step2: You give the credit card issuer a security deposit equal to the amount of the credit line you are applying for.
This is a necessary step for the secured credit card issuer to ensure they have recourse in case you don’t pay your credit card bill. It’s important for you to realize that even though you’ve made a security deposit on your credit card, the money you’ve placed as a security deposit is NOT used to pay your credit card bill

Step 3: Wait for your secured credit card to come in the mail

Step 4: Use your secured credit card to make purchases just like any other regular credit card.

Step 5: Pay your credit card bill on time each and every month and within a few short months you’ll start building trust with other credit card issuers so you can take advantage of cash back and other rewards credit card offers.

Secured credit cards are notorious for ripping people like you off with astronomical maintenance and annual fees so we’ve narrowed down the selection of secured credit card offers to the only one you should apply for.
We recommend that you apply for the is the Public Savings Bank Classic Secured VISA Card because it’s simply the best deal going right now because they are not ripping you off with ridiculous fees. The Public Savings Bank Secured Card offer gives you the benefits of No Annual Fees, No Monthly Maintenance Fees plus they give you a 6 month 0% intro APR on purchases.

Remember that I said secured credit cards work just like regular credit card offers – Yes, even though you need to place a security deposit on a secured credit card you still pay interest on your credit card purchases.

The Best Secured Visa® Credit Card Details

What Events Lead Up To Your Bad Credit?

While you wait for your secured credit card to arrive in the mail, spend sometime thinking about what your life circumstances were when your credit started to fall apart.
You may think it’s simply a lack of money.

Think harder. Why did you continue to spend on credit cards when you didn’t have the money to pay your bills?
Usually there is an emotional need that you were trying to fill when spending up a storm.

Think about issues that may have lead up to having bad credit such as:

  • How was your relationship with your spouse?
  • What was happening at work?
  • Was it an anniversary of a negative event from your past?
  • Seriously think on these points. You must learn why you were spending when you really knew that you couldn’t repay. It is imperative to be cognizant of how you use your credit card in order to rebuild your credit score. A secured card is there to help you rebuild your credit status in order to get cheaper credit later on.


    Public Savings Bank Secured Card

    Public Savings Bank Secured Card Offer – Click for More Info

    This entry was posted in Bad Credit and tagged Bookmark the permalink.

    Credit Cards for People with Bad Credit

    Posted on August 10th, 2010 | admin

    Credit Cards for People with Less Than Perfect Credit

    There are tons of offers of credit cards for people with bad credit, however you need to apply with extreme caution!
    Why?
    Because the major banks figure that because you have a less than perfect credit rating that you are foolish and willing to pay their horrendous fees. Credit card companies are preying on you, they are waiting to strike because they know your situation and that you will pay anything to get an unsecured credit card or loan and they will charge you a hefty fee and even offer an instant approval credit offer to get you on their customer list.
    Yeah, you got bad credit! You are not alone, there are literally millions of people with bad credit that need a credit card or loan.
    The banks will entice you with the idea of guaranteed credit to get you paying a bloody fortune in service fees to boost their profits and stock prices.
    If you are looking for a quick credit fix, take a moment to consider what got you in a situation of having a really bad credit rating in the first place. It was likely some minor abuse of your credit that got you here and that minor abuse turned into a major problem.
    Stop right now and think about your current credit rating!
    It’s very important that you avoid trying to find an easy credit hit right now and get the facts about credit cards for people with bad credit. What I propose to you is to get a credit card that is tailored for people with bad credit
    What you need to do is apply for a credit card that is geared for those with imperfect credit and use that to rebuild your credit score plus doesn’t try to rip you off with high annual or monthly service fees
    Understand this – Most people are able to build their credit score with a credit card offer that is designed for those with bad credit in a few short months when balances are paid on time each and every month.
    Avoid the high fee credit cards for people with bad credit and take advantage of the best secured credit card offer on the market today.

    The Best Credit Card for people with bad credit is the Public Savings Bank Secured Card
    Here are the facts about the Public Savings Bank Secured Visa Credit Card, the absolute best secured credit card to start building or rebuilding your credit score!

    This entry was posted in Bad Credit and tagged Bookmark the permalink.

    Secured Credit Card Offers

    Posted on August 10th, 2010 | admin

    Secured Credit Card Offers in Review

    Apply Online for the Best Secured Visa Credit Card

    Out of all the secured credit card offers on the market today the Public Savings Bank Classic Secured VISA Card is simply the best secured card to apply for because most credit cards for bad credit or no credit charge ridiculous fees.

    The public savings bank secured Visa® credit card offer does not try to rip you off with fees of any sort, there is no setup fee, there is no annual fee and there is no monthly maintenance fee plus as an added bonus you get a 0% intro APR!

    There are other secured credit card offers out there that will waive the first year annual fee such as the Orchard Bank Secured MasterCard offer however you’ll be paying interest on all purchases with that secured card offer.

    Another one of the secured credit card offers people get sucked in by is the U.S. Bank secured visa® credit card which charge an annual fee of $35 plus they nail you big time on interest charge of over 20%!!!

    Why the heck would you pay those fees when the bank takes no risk in extending you a secured credit card offer because they’ve got your money securing the risk of you defaulting on payments upfront

    That’s why, out of all secured credit card offers, we HIGHLY recommend the Public Savings Bank Classic Secured VISA Card because you won’t pay the fees other secured credit card companies try to bully you into paying

    Public Savings Bank Classic Secured VISA Card Review

  • Build Your Cedit Score – Reports to All 3 Major Credit Bureaus
  • 0% Introductory APR on All Purchases for the First 6 Months
  • No Annual Fees
  • Monthly Maintenance Fees
  • No Credit Check
  • No Checking Account Required
  • Your Credit Is Not a Factor!
  • Click Here to Apply Now!

    This entry was posted in Bad Credit and tagged Bookmark the permalink.

    Public Savings Bank Secured Card

    Posted on August 9th, 2010 | admin


    Public Savings Bank Secured Card

    Public Savings Bank Secured Card Offer – Click for More Info

    The Public Savings Bank Secured Visa Card is perfect for building or restoring your credit, the fact is if you ever want to buy a car, a house or put anything on credit then your going to need boost your credit score with the major credit bureaus.

    Secured credit cards require you place a security deposit on your credit card in the event you default on your payments so the bank can recover their costs. Your credit limit is determined by how much of a security deposit you place on your credit card. However once you’ve placed a security deposit on a secured credit card such as the Public Savings Bank Secured Card it works just like a regular credit card where you have to pay interest charges on your credit card spending.

    The Public Savings Bank Secured Card will help you build your credit with this secured Visa credit card and best of all they don’t do what a lot of banks do to people that have bad credit or are trying to build their credit rating by smacking regular people like you with insane annual fees and monthly maintenance fees. Nope, you are not going to be paying any of those added fees other banks charge when you apply today for a Public Savings Bank Classic Secured Visa Card.

    Why Apply Now for a Public Savings Bank Secured Card?

    You should apply for the Classic Visa Secured card card offer from Public Savings back because not only does it report the major credit bureaus to help you build credit, you’ll also get a 0% Intro APR plus you’ll be able to avoid paying costly monthly maintenance fees plus there is no annual fee attached to the Public Savings Bank Secured Card
    no annual fee.

    Let’s recap the savings you’ll get while you rebuild your credit with the Public Savings Bank Secured Visa credit card offer.

    Here’s what Public Savings Bank gives you with their secured credit card application:

  • Build Your Credit History – Reports to ALL 3 Major Credit Bureaus
  • 0% intro APR on Purchases for 6 Months
  • No Annual Fee
  • No Monthly Maintenance Fee
  • No bank checking account is required!
  • Get Approval with No Credit Check
  • Click Here to Apply Now!

    This entry was posted in Bad Credit and tagged Bookmark the permalink.