Choosing Types Of Credit Cards
July 12, 2009 by admin · Leave a Comment
Credit cards used to be simple. There was one rate, one feature and really only a handful of issuing companies. Those days are long gone and now you need to know about the different types to determine which is right for your lifestyle.
Standard credit cards are the most common and are available in most financial institutions. They are unsecured, which means you do not have to put down a security deposit. There are several different interest rates handled by these cards. There’s the balance transfer rate, which allows you to transfer a balance from another card to a lower rate on the credit card. There is the regular interest rate for purchases, which usually starts at zero percent for a set amount of time. And the cash advance rate, which is used when you use the card at an ATM to get cash.
There are credit cards with rewards programs. Finding a good credit card guide can help Typically these have a slightly higher interest rate than standard credit cards but only by about a percentage point or two. These cards allow you to earn incentives by using the card. Some credit cards will offer a certain percentage of your purchases and give you cash back for it. Some cards use reward points, usually at one point per dollar spent, and these points can then be redeemed for other prizes. Other cards earn rewards that can specifically be redeemed for discounts on airline tickets or hotel reservations.
Bad credit or credit repair cards are a good solution for those who cannot qualify for a standard credit card. Most often the interest rate is a few percentage points higher than any other card. These come in two types: secured credit cards and prepaid credit cards. Secured credit cards require collateral in order to be used. Typically this means putting a security deposit on the card as proof that you can pay the money back, this is usually an amount equal or greater to the credit limit. Prepaid credit cards are technically not credit cards but they are accepted and used like them. The biggest advantage of them is the lack of finance charges and the lack of any debt. With these cards you determine your own credit line by paying for any purchases beforehand.
Which Financial Services To Avoid
July 8, 2009 by admin · Leave a Comment
Nearly everyone can say that they wish they had a little extra cash around. Maybe you have a family holiday coming up or a series of birthdays and you could use some extra spending money. This is especially true in tough economic times. Often one can find themselves considering financial services they would have never given a second thought to otherwise. There is a saying that says, “There’s no such thing as a free lunch” and this can be true of financial services as well.
Payday loans seem like a good idea when you need one. All you have to do is walk in, hand them your pay stub and walk out with cash. Get $200 today and pay $225 in a few weeks. Sounds easy doesn’t it? It is, unless you don’t have the money come pay day and have to pay the $50 to advance that $200, then add more interest of $20. And the cycle begins. Then you will reach a point where the company won’t extend the loan anymore and you end up paying $500 that you didn’t have in the first place. Then what? You can get another payday loan, or just deal with the empty wallet. Payday loan companies charge an interest of 300-400% per year. That is outrageous just to get a little extra cash.
Credit card cash advance can also seem like a good idea. Simply swipe your card at the ATM and there you have it, cash. First, you will likely get charged a fee for using the ATM. And there is no grace period on cash advances so it starts earning interest right that second. Usually a cash advance interest rate is about double your normal interest rate, this is really not a situation you need to get yourself into.
Title loans are not a very common type of loan, but when things are really bleak there is always someone who will offer it. Basically this is just like a normal loan, but you’re using your car as collateral. Just based on statistics this is a bad idea, a large majority of people taking out title loans end up losing their car. The loan amount is normally far less than what the car is worth and the fees and interest only make this an even worse deal. And if you do lose your car, they will sell it at full price and keep the profit entirely for themselves. Should the car not cover the full amount of the loan, the company may then take you to court for the rest. It’s best to just say no.
Auto Insurance Quotes, Should You Choose an Agent or A Broker
When it comes to auto insurance quotes is it best to go with an insurance agent or an auto broker for the best deal possible? First of all it is important to ask if there is any difference between the two. The answer is yes although the difference is not tremendous. Let us take a closer look.
Insurance Brokers
For many years buying auto insurance by way of an independent insurance broker was the preferred method. Independent insurance brokers are basically companies that don’t work for any one insurance company, thus the name “independent.” A broker works for his clients not an insurance company. His job is to search out the very best and lowest insurance rates for clients and then bring them to their attention. Another important job of a car insurance broker is to help their clients deal with insurance companies in the event that they must file a claim.
Insurance Agents
On the other hand, you could also look for auto insurance quotes by way of an insurance agent. This option has gained in popularity over the years and continues to do so. Insurance agents are individuals who work for only one insurance company such as Geico, Allstate or State Farm. Agents work from within their own company to find their customers the absolute best rates possible. They can only look within their own company as opposed to being able to search out rates from a selection of companies.
A Third Option
There is a third option that is also worthy of mention when it comes to looking for quotes for car insurance that fit your budget. This option is very different than the other two. Instead of looking to an independent insurance broker or an insurance agent you can bypass the middleman and take it upon yourself to go directly to an insurance company of your choice and buy a policy from them.
There are plenty of people who prefer the option of going to an insurance company on their own. Many insurance policies offer their services by way of the Internet as well as the telephone. Taking out the middleman means that costs should be lower because there is no agent or broker to pay. This also means that operating costs are lower which should help to guarantee lower insurance rates for you.
Consider all of your options when it comes to shopping for the best auto insurance quotes around. It is also within your power to try one option and then if it does not turn out to be right for you to choose another.
Free Lunch Financial Seminars , Not Really Free
June 25, 2009 by admin · Leave a Comment
Perhaps you have heard the expression, in life there is no free lunch. I know my mother you to tell me that regularly. As is turns out she and other were right. The investing world has many snake oil salespersons that offer a free lunch, literally, and many people disregard the old time wisdom and accept. Step one for reliving you of your money is in place.
Free lunch financial seminars are all the rage in some circles with promises “lucrative careers” in anything from investing in stock options to prospecting for mortgage leads. What they have is a captive audience and most listen to the sales pitch without much resistance. It is easier than cold calling, door knocking and highly more successful than either.
There are not many people who do not need to make more money so the market for free lunch seminar participants is never ending. Make no mistake, these hucksters may not rob you of your life savings, but be sure they will make a pitch for you to buy something , sell something or tell your friends about next weeks free lunch.
Often products and service that are promoted are overpriced and overrated. Many a multi- level marketing proposal is born out of these free lunches. Your free lunch has turned into you writing a check for $399.00 for the right so to a fool proof system to make more money.
Bottom line. If you are invited to make money with a system and selling that system makes you more money that the “product “ it is selling, step away from the lunch room and buy your own meal. You will save money in the long run and that means you will make money simply by not giving it away
Dislike Your Job , Maybe Time For A Decision
June 19, 2009 by admin · Leave a Comment
Far too many people hate their jobs or careers. Many drag themselves through each day and try to make eight hours. Life is too short to live this kind of existence, yet the majority of Americans fall into this category. Spending a third of each day miserable is not worth the pain. It does not matter what life stage you are in presently, nor does it matter how old you are, or aren’t. You have two options and both are easily attainable if you are motivated. You can quit your present job or you can get training for a new job. Sounds rather simple does it not?
Most people who don’t like their career choice cannot really identify why. Perhaps you don’t like the people you work with. Maybe the work itself is pure drudgery. Before you decide on something else, make sure you have exhausted all your efforts to trying to make it work for you. Be willing to change. Often when people examine the whys and why nots of a career, they discover it is really not that bad after all. You can choose to like your job, just as you have chosen to dislike your job. Weigh all the costs, purpose yourself to a different attitude and you might just find your career choice was right after all.
This change of heart won’t work for everyone. What if you just can’t get satisfied with your job? Then it is time to make a change. Ask yourself what it is you want to do. Do you need further training to accomplish your career change? There are many online training programs for virtually any career choice at your disposal. Put forth the effort to decide what it is you desire for a career and make it happen.
These really are your two choices when faced with an unhappy work environment. Determine if your job is really that bad and can you change to make it better or decide to change your career and be willing to do anything necessary to accomplish that goal