20
May/12

Prepaid Credit Cards for Teenagers

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Have you been wondering how you can teach your teen to behave responsibly when using a credit card? No parent wants to see their child get into financial difficulty running up debts that they cannot afford to pay off, yet many of us know from experience how easy it is to succumb to the temptation of thinking that we can afford to buy now and pay later. Of course we learn through bitter experience that this is not always the case and we don’t want our children to make the same mistake.

One way of helping them learn to manage their finances is to give them a prepaid credit card. Technically of course, this is a debit not a credit card as the card is pre-loaded with cash.

There are a number of reasons why you may decide to get your teen a prepaid card. It may be that you simply want them to learn how to manage their own money and by topping up their card on a monthly basis they will hopefully learn how to budget. Your teenager may be going to university and you want to be sure that they have sufficient funds when they need it, for example a quick phone call to you means that you can top up the card in an emergency . Or your teen may be off on a gap year and you can rest easy knowing that funds will reach him quickly if needed.

There are several advantages to a prepaid credit card.

There are no credit tests needed to obtain one, anybody can apply.

It is impossible to run into debt, only the amount credited to the card can be spent.

If the card is stolen only the outstanding cash on it could be lost, although most cards can be blocked in these circumstances.

The disadvantages are minor, normally there is an application fee when getting a card.

Many cards charge a monthly fee, but this is could be cheaper than a teenager running up interest charges on an ordinary card!

Most cards allow withdrawals from an ATM machine, but charge a fee. These charges vary from company to company and it is worth shopping around to find the best buy to suit your circumstances.

There are a lot of cards now being offered and you should read all the terms and conditions carefully to ensure that you are getting what you require. Check there is no delay in being able to use the card as soon as it has been topped up, that you can withdraw from an ATM machine or use online. Well known names offering a Mastercard will probably cover all your needs. Be careful that you are not buying a non-reloadable gift card.

If you choose carefully and explain to your child that the money you will be depositing

on the card is to cover a certain period of time and they must try to budget, hopefully they will begin to learn how to do just that!

This article is for information and the author accepts no liability for any action taken.

Margaret Tye runs the From Tots 2 Teens – Pre-Paid Credit Cards website

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20
May/12

Credit Card Debt Consolidation Companies – Don’t Get Scammed Checklist

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The reasons are varied as to why so many people get into debt. One minute every thing seems comfortable and affordable, and then suddenly the realization hits you that you have financially extended yourself too far and those payments you were comfortably making before seem like an insurmountable mountain to cover. Increasing bills and credit card statements that never seem to go down drive you insane and there seems to be little, if any, light at the end of the tunnel. This is when companies that deal with debt negotiation can be of help, or not as I will explain.

Credit card debt consolidation is a financial product that has been provided by reputable debt management companies for years and it has provided debt relief to many, but there are quite a few unscrupulous companies that are preying on those of us who are desperately looking for help. These shysters have caused heartache and misery to thousands who are already tormented by the burden of severe debt.

These unscrupulous companies will take your money and tell you blatant lies, stating they are paying your creditors when in fact they are pocketing your money. Eventually the penny drops with a resounding thud when all of a sudden the mailings and calls from your creditors, the same ones that you have been told to ignore by your ‘so-called’ debt management company, turn into court documents and you end up being sued by your creditors for nonpayment. As a result of this your credit score is well and truly trashed!

Usually, when people start to look for credit card debt consolidation services they start searching for them on the internet where you will find dozens of companies all claiming to be able to save you thousands and thereby eliminating your unsecured debt well ahead of schedule. They do this by using their relationships with creditors and also their expertise in negotiating down your debt.

You will probably be tempted to use those companies that claim to be nonprofit organizations and whose ethos is to work towards giving debt relief to those most in need. Claims of debt reduction of anywhere between 10 and 50 percent are often made.

There are some excellent debt management services out there, dealing with credit card debt consolidation specifically, who can and will reduce your debt to an affordable level, and the percentage levels mentioned previously that relate to the level of debt reduction can be achieved in most cases, however, there are companies out there that will scam you so take heed of the following advice.

In order to avoid being one of the innocently scammed use this checklist:

Check out any companies you are considering using on the better business bureau website (www.bbb.org). You will be able to find out a lot about a company on this site, take special note of any negative feedback. Be especially wary of new companies; if they have the muscle to mount an expensive ad campaign they should be ok but if you have never heard of them stay well away!
If a company suggests that you stop making payments to your creditors whilst they are negotiating with them and pay them instead, stay away! You should always continue to make payments to your creditors even if you cannot manage to pay the full amount.
You are told that debt negotiation will take six months and in the meantime pay the management company. Rubbish! Reputable companies have excellent working relationships with your creditors and your creditors have a specific department for dealing with these issues. The long and short of it is that both your creditors and your management company have a set of negotiation plans that are designed not to prolong negotiation and invariably the vast majority of negotiations take little more than a month tops! It is in nobody’s interest to drag this out apart from a scamming management company.
Leave well alone if you are promised that all the negative information will be removed from your credit report after negotiations have finished and agreed payment structures are in place. The only way that information will be removed from your credit report is if you prove it to be wrong or it has exceeded 7 years.
If you have signed with a debt management company and you continue to receive mailings or calls from your creditors then reply to them asking why they are not contacting your debt management company directly; if there is no agreement in place your creditor will continue to contact you! Stop paying your debt management company if this happens.
List all charges; whether they are set up charges or monthly management charges and compare them all, those that charge a large amount need to be avoided. For example a debt consolidation company cannot charge in excess of $20 in California so any that charge more than that will generally be on the make.

Finally, why not consider approaching your creditors yourself and attempt to negotiate a better deal with reduced payments, you will avoid being scammed and you will know exactly what is happening with your finances and when; also the monthly fees can go towards paying off your debt instead of lining the pockets of somebody else.

Do not pay a scamming credit card debt consolidation management company to ruin your credit history, if you do feel it necessary to use someone to help you sort out your debt make sure they are a reputable business.

If you are looking for more information on credit card consolidation or any other financial topic visit credit card consolidation or debt consolidation information; where you will find the information you are looking for as well as a method of debt reduction that could have you clear of debt in as little as three years!

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20
May/12

Stop Credit Card Debt – How to Make the Credit Card Companies Eliminate a Percentage of Your Debt

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With the interest rate on the balance on your plastic calculated at anything between 10 and 30 percent, you will find yourself swimming against the tide just to pay off your dues.

All of us would like to totally stop credit card debt but that can seem thankless and futile task at best. However, there are indeed methods to eliminate a percentage of your debt, which is better than nothing when you think about it.

This elimination of outstanding dues is one way to stop credit card debt. You should first list out all the cards you have, along with their dues, minimum balance and interest rate, all available on your monthly statements. That done, sequence the cards by interest rate, with the highest one on top in descending order then add up the minimum payments. The eventual total is your lowest monthly minimum payment.

You should next look at your budget and try to make a bit of room to pay an extra amount, however small, along with the minimum balance, which will make a dent in the amount you owe.

When the next monthly bills come along, pay the minimum balance on all the cards except for the one placed on the top of your list based on it being the highest interest rate. Whatever money you have set aside from your budget as the bit you can afford towards your dues should be applied to that particular card along with its minimum balance.

You should continue with this until the first card, which has the highest inters rate, is paid in full,. Then it becomes easy. With one card out of the way, you now have the money to start paying on the other ones by using the minimum balance and the extra money you were putting into the first card to those remaining.

It is a process where gradually you will have paid off all your cards and brought a full stop to credit card debt. You will get a sense of relief as you see one card after another fall by the wayside as you make your payments and bring a stop to credit card debt.

Getting out of debt through a debt settlement process is currently very popular but you need to know where to locate the best performing programs in order to get the best deals. To compare debt settlement companies it would be wise to visit a free debt relief network which will locate the best performing companies in your area for free.

Free Debt Advice [http://www.freedebtsettlementadvice.com].

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20
May/12

Reduce Your Credit Card Debt – How to Reduce Credit Card Debt by at Least 60%

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We have all been there at some time or another. We open the mail to find the credit card we were patiently awaiting the arrival of. Little did we know the aftermath of having such an easy shopping tool. When the bill arrives, the monthly payment is extremely low, so the minimum gets paid.

Over time the almighty credit card is used to pay the bills that were behind, the must have sale items, and before we know it there are charges like crazy. The majority of the creditor’s bill may be for the purchases made, however, the interest has racked up extremely high, so high in fact that paying off the pair of shoes bought on sale is now feeling impossible.

If the minimum payment is what gets paid it can literally take years to pay off even the smallest credit card debt. If you are determined to reduce or eliminate a big chunk of this debt, there is a light at the end of the credit card tunnel. In order to take control of the situation you have to begin with a good organized financial plan.

Gather all of your bills, including the monthly necessities like rent or mortgage, utility, groceries and all of the credit card statements. Organize each in an order of priority and amount paid. When going through the credit card statements make sure to put the highest interest payment ones on top and work down to the lowest amount.

It is important to remember that even paying the smallest fee due on the credit card statement will aid in alleviating a higher payment due on next months statement. If a payment is skipped, the next statement will have added fees due to higher interest, as well as, late payment fees. These can greatly affect the amount of debt on your credit card. Overdue fees are extremely high so whenever possible, at least pay the minimum due.

Once all the bills are categorized in order of importance, if you were to take a pay cut at work or reduce the household income to one, how much would you lose per month, and can you survive on the income now presented to you? If so, the money from the income you have come to realize is “extra”, can be applied to paying a higher monthly payment to the credit accounts. Even if you are only able to sacrifice an extra twenty dollars a month, this will reduce the actual balance due. Any payment made toward the credit card amount will reduce the amount owed in the long run. Simply making a payment that is even slightly larger than the minimum will reduce the overall total interest rate, which is where the buildup occurs. If you make a financial plan, follow a strict budget, and allow yourself to “live” on funds that do not include your total household income, it is possible to save as much as 60% more a month, allowing you to become debt free in a much quicker time span.

If you want to find the top performing debt settlement companies then here’s some very important advice. Do Not go directly to a particular debt settlement company but instead go to a debt relief network that is affiliated with several established debt settlement companies. In order to be in the debt relief network, the debt settlement companies must prove a track record of successfully negotiating and eliminating debt. They must also pass an ethical standards test. Going through a debt relief network will ensure that the debt company you are provided with is a legitimate and respected company.

FreeDebtSettlementAdvice.com is one of the largest and most respected debt relief networks on the marketplace today. To find a debt settlement company through FreeDebtSettlementAdvice.com check out the following link:

Legitimate Debt Settlement Company [http://www.freedebtsettlementadvice.com].

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19
May/12

Cash On The Cards

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Our friend Mr. Thames Pond often gets bogged down by his multiple credit card accounts. He tries to get rid of some now and then, but he gets into more liabilities. On the top of it he gets bombarded with new and newer card offers. Due to his inability to refuse ladies he falls into the traps cleverly set by the card executives. He is particularly scared of the wily executive called Moneycanny whose name he cannot even clearly pronounce. He is getting another call from her now. As usual he prepares to get bold with her this time…

“Hello!”

“Hello! Can I speak to Mr. Pond please?”

“This is Pond. Thames Pond.”

“Good Morning, Mr. Pond. This is Moneycanny. Can I have two minutes of your time please?”

“Regarding what?”

“Well, Sir, there is a special cash back offer for our most valued credit card holders like you.”

“Okay, tell me how do I get the cash?”

“The highest percentage cash back will be on your utility bill payments like telephone, mobile, electricity bills. This means you will regularly get some cash back every month. Then you will also get cash back on other transactions though at lower rates, but never less than one percent.”

“But I do not want to make any payments.”

“Sorry? You don’t make any bill payments or pay for other purchases?”

“I mean I don’t want to make any payment to you for this offer.”

“Oh Mr. Pond! There is no such payment involved in this offer.”

“You mean to say I will keep on getting the cash back just like that!”

“Definitely Sir, these are benefits for our privileged customers only. There is no annual fee and your lifetime free card is still valid with this offer.”

“Are you sure? What about hidden costs?”

“Mr. Pond, I assure you there is absolutely no hidden cost.”

“Ok then, I am game for some high cash!”

“Thanks and congratulations, Mr. Pond. I am enrolling you for this offer. Our executive will confirm your status through a phone call within twenty four hours. There is a onetime activation charge of a thousand bucks which will reflect on next month’s credit card statement.”

“I told you I am not going to make any payment to you for this offer. I asked you a thousand times about the charges. Now what’s this?”

“Sir, considering the cash backs you hope to get continually this fee in just nothing.”

“My dear Ms…er…this will take my lifetime to get back my thousand bucks through your cash backs. Sorry, I told you. Take me out of it.”

“Mr. Pond, please consider again. This offer ceases tomorrow.”

“It ceases right now for me. No payments please.”

“Thank you very much for your time Mr. Pond. Have a good day.”

“Thank you!… (click)… Ha! Ha! Ha! Got you this time, baby! Hurray!”

Chinmay Chakravarty is a professional specialized in the creative field with over two decades of experience in journalistic writing, media co-ordination, film script writing, film dubbing, film & video making, management of international film festivals and editing of books & journals. Proficient in providing professional services in these related fields and also in fields of credit tips, personal finance and mediation help. Has a passion for making people laugh as often as possible and is interested in having a laughter club for doing away with everyday problems.

http://ours-funarena.blogspot.com
http://www.linkedin.com/in/createnwrite

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19
May/12

The Steps to Paying Off Credit Card Debt

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It is much easier to use credit than to spend cash. Because of this so many people are deep in credit card debt and are finding it hard to dig themselves out. Despite all their efforts to turn things around they continue to charge on their credit cards and continue to slide deeper into debt.

Multiple credit cards make it difficult to recover from credit card debt. If you retain the credit cards there will always be the temptation to use them. The best way to ensure that you improve your situation is to destroy all but one credit card and close all other accounts. Hold on to that one credit card and don’t allow yourself to use credit for anything unless absolutely necessary. The one credit card that you hold onto should be the one with the best interest rate and you should hold request a low limit on this card to avoid the temptation of overcharging.

Credit card companies will often make offers of 0% interest for a certain period of time. If used properly it can also be used as a way out of debt. If you can transfer the balances of your credit cards to a 0% interest card this may enable you to pay off your debt quicker.

Be aware that after the 0% interest period expires the terms on these credit cards can difficult to manage. If you are not ready to pay the credit card off completely when the special promotion offer ends. You can apply for a different credit card, possibly another promotional offer with little or no interest.

It may be that you are not able to transfer to a 0% interest rate again. But you can find a credit card with a low enough interest rate for you to manage.

If you normally have a problem making your monthly payments on time you can have your credit card payment deducted automatically from your bank account so that the payments are on time and made regularly.

If credit card transfer is not a possibility or if your problems are to severe for that consolidating your debt may be the answer. A consolidation loan brings down your monthly payments and reduces the amount you pay in interest each month.

With only one account to manage you can stay on top of the status of your debt and better manage it. Also you will not have to worry about collection agencies calling your house every day.

Are you sick of buying financial guides that make great promises but just don’t deliver on those promises? We offer objective reviews of many resources in the debt, credit, investing and real estate markets, to name a few. Visit http://www.financeproductevaluations.com to check out our latest reviews, such as our latest pick The Rapid Debt Reducer Software.

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19
May/12

Credit Card Debt Relief Programs – In Case You Have Financial Hardship

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A recent study has shown that more and more people are facing financial hardship despite the fact that their earning has increased. One can attribute this to the fact that more people are using cards these days. While earlier most of the purchase was paid for in cash, now a day the easy access to cards has put us all under huge credit card debts. When you use cash, the worst you could do was to spend all your savings but there was no means of overspending. With cards, you can easily go over the limit and end up spending much more than you can ever pay.

The right way to use a card is to purchase only those items which you can pay through cash. The only reason for using the card is to use the interest fee period to save some money. If you are a little easy with your card, you might build up so much debt that even the minimum payment each month will become difficult. Missing out on the monthly payment not only increases your debt amount but it can also cause an APR increase.

There are many legal ways of reducing your card debt. Debt settlement is on the top of the list. This is one of the ways to reduce the amount that you need to pay back to your creditors. If you are facing financial hardship and can convince your creditors of the fact then your creditors would be interested in getting back a portion of their money rather than lose it all if you file for bankruptcy.

If you have been defaulting on your payments for some time then this itself is sufficient grounds for demonstrating that you are facing financial hardship are no longer in the position to keep up with your regular payments.

The Writer is research analyst with Financial Solutions, which is an organization that helps overextended consumers with manageable debt settlement plan. For more information click the link http://www.uscaonline.com
debt settlement

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19
May/12

Don’t Spend Your Lifetime Paying Off a Credit Card Bill

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In the current financial climate many people are struggling to keep on top of debt repayment such as credit card repayments, and for many the only option is to make minimum repayments at times when the budget doesn’t stretch far enough. However, whilst making minimum repayments is okay on the odd occasion when money is tight it is not something that should be done regularly, as otherwise you could be hit with high interest costs and repayment of the debt will take far longer.

However, some credit card firms, such as Barclaycard, have gone a step further in a bid to ‘help consumers’ by further reducing the minimum monthly repayment that is required. At first glance, it might seem that the credit card firms are doing cardholders a favour as a result of this measure, as it means a lower repayment each month. However, when you look into it more carefully you will see that the providers are not doing consumers any favours by further reducing the required minimum repayment.

For example, as a result of the reduction in the minimum monthly repayment that has been introduced by Barclaycard it could take cardholders a whopping ninety eight years to clear a relatively modest card debt of just five thousand pounds.

Research that was recently carried out showed that based on an APR of 15.1 percent it would already take a lengthy thirty one years to repay a debt of £5000 with Barclaycard based on the previous minimum repayment. However, with the new, lower repayment this period would more than triple to ninety eight years. Even worse, it would generate additional interest charges of over sixteen thousand pounds!

If you are struggling with credit card debt repayments then, no matter how tempting the credit card firms make it sound, avoid making regular minimum repayments, as in the long term this will cost you a fortune and you will burdened with the debt for the rest of your life. You may want to consider transferring the balance from your credit card onto a 0% balance transfer credit card instead, which will allow you to repay the debt over a period of, say, a year or fifteen months without being charged any interest, thus making it a little easier to make a dent in the debt.

R. Charlton, award-winning writer, shares her financial expertise as a contributing columnist for http://www.credit-card-comparison-online.co.uk.

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19
May/12

Top 3 Benefits of Business Credit Cards

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How can a Business Credit Card help in managing Small Businesses?

Remember, as a business owner, you should ensure that you maintain two separate finances i.e., separate financing for your business as well for your personal budget is absolutely essential. Hence, do not club these two finances lest you will be utterly confused in maintaining the accounts separately. The expenses incurred on your business are reflected, automatically, in your account when you use a business debt card. To build up a corporate credit, such credit cards are ineluctable. By registering your firm with the business credit bureau, your company’s reputation can be enhanced to a good extent.

Are business rewards cards worth the choice?

With wide range of business rewards cards available in the market, you can choose the one that suits your company’s needs. To those businessmen who purchase huge stocks in bulk, it is advisable to have a credit card with cash-back facility.

Here are the top 3 benefits that you may avail by using the business credit cards -

1. Those maintaining fleet of vehicles for deliveries and frequent flier programs, and for those who globetrot on business purposes like meeting the clients very frequently, can avail benefits like gas discounts with these cards.

2. Business debt cards also offer various other advantages, which include but are not limited to flexibility to spend more than earnings in a particular month, if you badly need to invest in an important project.

3. Many a times, it just so happens that small business owners don’t have enough funds, but get a golden opportunity that they miss out on, just because they don’t have the necessary monetary support. The business Debt cards come to your rescue during such times. But, you must be beware of the fact that you should not accumulate too much of debt by unnecessarily increasing your expenses, just because you’ve high credit limits.

Lana runs an extremely resourceful website where you can find many more Cheap Credit card and apply for credit card.

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19
May/12

Facts to Know Before You Can Accept Credit Cards

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When you run a business of any size, you need to strive constantly to stay ahead of the curve. There are few things more challenging than being a successful businessman (or woman!) and hard work is a necessity.

Despite the struggles and pressures of owning your own business, this is a career that also offers fantastic rewards. You get to run the show. All operations from the top down are up to you. That certainly adds a lot of pressure to the job, but it also gives you the freedom to craft the company you have always wanted.

In order to stay ahead of the competition, it is important for business owners to take advantage of every available resource. One way your company can help to grow into the future is through credit card processing.

But where does one even start? Many businesses put off accepting credit cards because they don’t even know where to begin. However, when you team up with a merchant services account, you will be able to begin processing plastic with ease. Here are a few things to know before you can accept credit cards.

Shopping Around

Merchant account providers offer a wide array of services beyond just credit card acceptance. Hence, while you may just want to start accepting credit cards for now, there could come a time in the future where you want to take advantage of these other services. So, when shopping around for a provider, it doesn’t hurt to find out what other options are out there.

Some providers offer expedited check acceptance so that you never have to worry about a check bouncing again. You can even set up gift and loyalty card programs through these providers so that you can promote new business and encourage customers to come back for more. Many merchant accounts can help facilitate escrow services, online auctions, and a myriad of other features. Ask different providers about other options outside of credit card acceptance. You never know what might help your business in the future.

Getting Ready

Once you have found the account provider that seems to be right for you, you are going to need to get a few things in order. Account providers don’t just hand out merchant accounts to anyone, so you will need to prove you are a legitimate business.

The first thing every business signing up for a new account will need is a business banking account. Odds are you probably have one of these already. They are necessary so that your account provider can link directly to your bank so they can transfer the payment after the credit card transaction in complete.

Verifying your business will also take additional steps, and different providers necessitate different documents. You may need past tax receipts, references from other people in your business, photos of your establishment, or any number of other things. Basically, you just need to express to the provider that you are a legitimate business that they would be proud to deal with.

Exploring your Options

The world of credit card processing has expanded far beyond the common retail swipe terminals that seem ubiquitous to establishments of all sizes. Merchant account providers have all sorts of different options available to businesses.

The most common is, of course, the retail swipe terminal. These machines come in many different versions. Some have keypads to enter PIN numbers, others have screens to sign your name, and many will just instantly approve the card without requiring any signature or PIN number. Talk to your provider about which will work best for you.

The greatest thing about these retail swipe terminals is the low processing fees. Criminals commit credit card fraud with far less frequency during face-to-face interactions, so providers can afford to cut down on the cost to you.

Many providers can also help set you up with the ability to handle online transactions. A web presence is great for expanding your company, but you should also be able to take credit cards over the Internet. Most web transactions are paid for with a credit card and you must be able to handle the task.

Merchant account providers will also make sure your web transactions are secure. They use PCI compliance and fraud detection software to deter fraud committed over the web.

You can even use wireless swipe terminals if you have a business that is always on the go. Taxicabs, delivery drivers, and anyone else who moves from place to place while doing their business can benefit from these wireless swipe terminals. Finally, you can accept plastic without being tied down to a permanent location.

Growing your business can be as much a pleasure as it is a stress. When you sign up for credit card processing through a merchant services account you are taking a giant leap forward for both you and your business.

Jim Hildebrand is a freelance writer who writes about a range of topics including businesses that accept credit card transactions.

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