Have you been looking for a great credit card for bad credit? You're not alone. A good number of consumers have found themselves in credit trouble and in need of such a card. The problem is that there are dozens of bad credit credit card offers out there and I wouldn't wish more than half of those cards on my worst enemy.

How do you tell the good from the bad? By looking at these specific terms.

1. Interest

If you need a credit card for bad credit, you need to make sure you don't fall for the "you deserve a bad interest rate" line of thought. So you have damaged credit... So what? Everyone makes mistakes and it's not the end of the world. It definitely doesn't mean you should fork over 30 percent interest.

Believe it or not, you can find a credit card for bad credit that offers a decent interest rate. You just need to do a bit of searching. If a card charges more than 20-percent interest, run in the other direction.

2. Fees

Fees, fees and more fees... You would NOT believe some of the fees certain companies will try to charge you for a credit card for bad credit.

An annual fee IS acceptable. An annual fee of $100 or more is NOT. Also make sure that you don't get taken with any "processing" fees, "application" fees or monthly "participation" fees. You're going to be paying an annual fee and interest. There is absolutely no reason a credit card company should need more money than that to offer you a credit card for bad credit.

3. Up-Front Money

Has a company offering a credit card for bad credit tried talking you into sending money in up front (other than a security deposit)? If so, run in the other direction and run fast.

No legitimate credit card company makes you pay up front for a credit card for bad credit and they definitely won't make you pay hundreds of dollars for the privilege of carrying one of their cards. If a sales rep tells you otherwise, they're not offering a credit card for bad credit -- they're running a scam.

4. Grace Periods

Late payments got you here to begin with -- you want to avoid them at all costs. Making sure that you find a credit card that offers a reasonable grace period is key.

There are some bad credit credit card offers out there for cards that have a short grace period (or no grace period at all). Do yourself a favor and avoid them. Only apply for credit cards with a grace period of at least 20 days.

And, of course, remember that a bad credit credit card is a temporary solution. When you do find the right credit card for bad credit, make sure that you prove yourself and pay your bills on time each and every month. Then, in about a year, apply for a credit card with better terms and put your credit card for bad credit away for good.

Although credit cards are often associated with individuals, using credit cards within business is also a viable option. If you have a business, then using commercial credit cards could really help you to keep track of spending and improve your business cash flow. Here are some tips on how to use commercial credit cards in your business.

What are commercial cards?

Commercial cards are much the same as normal cards, except they are used for business purposes. This means a number of people can use the cards, and that you are not personally liable like you would be for a personal credit card. Commercial cards can be in the form of credit cards, charge cards or debit cards.

Different users

One advantage of having a commercial card is that a number of different people will be able to use the card. The cards can be used by a variety of staff, and you can even specify different credit limits for each card. This means you don’t need to be there all the time when large purchases are made for the company.

Monitoring spending

If you are a company that uses cash for minor expenditures like lunches or office equipment, then using a credit card instead will help to improve your budgeting and make it easier to monitor expenditure. With a credit card you can see exactly how much has been spent and what it has been spent on, meaning you can work out areas that expenses can be reduced or areas where more spending can be given.

Interest rates and fees

In general, commercial credit cards will have a higher interest rate than personal credit cards, mainly because the risks are higher and also because the credit limits will usually be larger. However, commercial credit cards often offer a longer interest-free period if the balance is paid in full, sometimes up to 56 days. This means you don’t have to deal with business expenses all at once if you are having a particularly costly month of expenditure.

Charge and debit cards

Although credit cards are the most common commercial cards, there are other cards available. Charge cards for business purposes are similar to regular charge cards, where the balance needs to be paid in full each month. This can be useful if you want to maintain a definite budget each month. However, charge cards usually come with an annual fee and don’t offer the flexibility of credit cards. Debit cards are a good option for small expenses like staff lunches or emergency items. They are usually given free with a business account and the money comes straight out of the account, meaning they are a faster and cheaper method than using cheques. Although there is the risk with all business cards that employees will spend too much, they are a convenient way of budgeting and reducing paperwork as well as stopping you from being personally liable for your business debts.

Ever wanted a prepaid debit card which has the convenience of credit card and comes with simply excellent features? Liberty Union Debit Card is for you. Safe and great for travel expenses this debit card, works like a credit card but you can spend only the amount you load into your account. The result, great budgeting a habit which pays for the entire lifetime. Let us take a close look at what all this Liberty Union Debit Cards has in store for us.

Like all other prepaid cards in the market the Liberty Union Debit Card, does not do any credit checks or verifications for issuing the debit card. This means a debit card with no employment verifications, no security deposits, no credit checks and there are no turndowns.Of course, the Liberty Union Debit Card will be issued according to the terms and conditions of the debit card company but, almost everyone gets accepted.

The fees associated with Liberty Union Debit Card is pretty low and there is no need for check cashing locations. With every issued Liberty Union Debit Card the company provides impeccable toll-free phone support, online and offline access and you don't even require a credit check or bank account to get the Liberty Union Debit Card.

Purchasing the Liberty Union Debit Card is very easy and there are multiple options to place money on this prepaid Visa card. The Liberty Union Debit Card holder can withdraw funds or make purchases up to the balance on the card. There is no overdraft facility available. And this means that there are no late fees or interest charges to be paid to anyone. Now, that's real cool.

The conveniences that comes with Liberty Union Debit Card are simply great. It eliminates check writing hassles, there are no security deposits, with the Liberty Union Debit Card you can pay your bills over the phone, and it keeps your money safe. The Liberty Union Debit Card replaces all your money and eliminates the risk associated with carrying cash.

Unfortunately, credit card fraud happens way too often. This is why you should be very careful who you allow to see your credit card information. Be very careful whenever you do a credit card transfer. This way you will always be sure that you do not end up with a stolen credit card. Keep in mind that if you begin to feel like the company you want to use for a credit card transfer is not honest then do not use them.

Make sure that the company you might be doing a credit card transfer with has not been in trouble for stealing credit information. Also, make sure you know how long the company has been in business.Then you can be sure that they have not been doing anything wrong with your credit information.

If you are going to build credit card purchases online, make sure you only give your credit card data to businesses that are official and that have been established for a long time. The credit data should always be on a professional looking page.

When purchasing many things online, you might want to look into taking an account with a business that will take care of dealing with your credit understanding for you. Paypal is a great company to help you with these things, especially if you do a lot of things on Ebay. Paypal has been around for a long time and is very trustworthy.

Even if you're not buying online, you should always be careful regarding credit card transfers. You may find yourself dealing with a stolen credit card if you are not careful with your credit data.With this information applied to your life then you should be able to avoid most of the problems that might come up if the wrong business gets your credit card knowledge.

Observers in the lending industry have estimated that there may be at least 50 million Americans who are not able to qualify for credit. These consumers are usually young, often members of the minority groups and unbanked…and they are faced with the long-standing dilemma of credit: how can I build my credit record if no one will give me any credit at all?

One of the answers offered by credit card companies is a variety of prepaid credit cards, designed for use by specific segments in the market. The prepaid credit cards are meant for that significant portion of the population that cannot meet the qualification criteria for regular credit cards, or who qualified before but have since lost their credit due to repeated defaults and other reasons.

Advantages of Prepaid Credit Cards For those who do not have enough credit history or have had it blemished, prepaid credit cards are an effective way to build or slowly rebuild credit. That may not happen immediately, but it is something to work on over time. The banks that issue prepaid credit cards are also prepared to extend normal credit the moment you are able to show that you have become a worthy credit risk.

For the moment, you may have to make do with prepaid credit cards. You can use prepaid credit cards as you would any other regular credit card to purchase airline tickets, reserve hotel rooms, or order items online.

Prepaid Credit Card for Students

There is a special prepaid Visa credit card for students, which offers a lot of convenience not only for the students but also for their parents. These reloadable prepaid credit cards offer parents several options on how to reload. Parents can add money to reloadable prepaid credit cards by depositing money, by arranging an automatic transfer of funds from their account (a deposit account or their own credit card account), or by online transfer. Using the prepaid Visa credit card is no different from giving the regular allowance to their child, only they do so by electronic means and there is no more cash that changes hands.

The big advantage of the prepaid Visa credit card is that the student is limited to spend only as much money as there is in the card. The parent is thus able to control to some extent the spending behavior of their child. They can use the prepaid credit card anywhere that the credit card brand is accepted.

Prepaid Credit Cards as Gift Certificates

Some prepaid credit cards function like gift certificates. You buy the prepaid credit card for a certain amount, and your recipient can purchase items with it at any of the brick-and-mortar stores or online merchants, and also for mail order items, that accept the particular credit card brand. Your recipient can use the prepaid credit card only up to the amount of money that you loaded on it. This particular version of prepaid credit cards is non-reloadable.

Like any gift certificate, recipients of prepaid credit cards can buy whatever it is they want at any time they want. Unlike a gift certificate that, when it gets lost is lost forever to the recipient, prepaid credit cards may be replaced if it gets lost or is stolen.

Prepaid Credit Cards for Travel There is a prepaid credit card designed for travel. These reloadable prepaid credit cards can be purchased in lieu of travelers’ checks or cash. In a way, it combines the best features of a credit card and a traveler’s check because of its convenience and security features. Should you lose the prepaid credit card while you are on travel, you can easily obtain an emergency replacement, both for the prepaid credit card and some cash.

Prepaid credit cards for travel are accepted all over the world, and also allow you to obtain currency from ATM machines. When you need to reload and you are already traveling you can arrange for the reload by phone or online. Apart from the fact that it is a prepaid credit card, you can use it exactly like a regular credit card. That also means you enjoy other benefits just like a regular card — reimbursements for lost luggage of up to $1,000 per cardholder if your luggage is lost; zero liability if your prepaid credit card is used fraudulently after you lose it or have it stolen from you; purchase security up to $500 per claim for any items you buy with prepaid credit cards, which subsequently gets stolen or damaged for certain reasons.

Generally, you can purchase prepaid credit cards of all the major credit card brands at their participating retailers. You don’t have to worry about not having acceptable credit because prepaid credit cards are made available without need of a credit report or a bank account. The only qualifications you need to have are that you have reached 18 years of age and that you must be able to present a valid identification issued by government.

Disadvantages of Prepaid Credit Cards

There are a few things about prepaid credit cards that may not be as convenient as the regular credit cards. For one thing, you load only so much money onto it. You will need to keep track of the balance on the prepaid credit card because not all of the merchant terminals where you use the card may be able to help you determine it. However, there are procedures that tell you how to determine your balance, and you will these detailed on the back of the prepaid credit card and in the instructions accompanying it.

The process of reloading your prepaid credit card may be a little inconvenient to some. If you’re using cash, you would have to visit the participating outlet where you bought your reloadable prepaid credit cards. The more convenient way will be reloading online.

There are also the charges. Prepaid credit cards impose an application fee, the amount of which varies with the issuer, and there is also a service charge that you have to pay monthly. You also have to pay for transaction fees, charges when you transfer funds to top up the balance, when you replace your prepaid credit card, and many other fees. To be sure about the fees, you should read closely the fine print on the prepaid credit card account.

Prospects of Prepaid Credit Cards

Prepaid credit cards do not provide credit; it is your money that you’re using. You are asked to pay other charges, so it is not for free. You are paying for the convenience and security of carrying plastic instead of large amounts of cash. People with bad credit will be able to act as if they had a regular credit card and enjoy the convenience of one.

Issuers of prepaid credit cards realize that it is a good way to monitor the credit behavior of the cardholder. A prepaid credit card would be a source of information that indicates to the credit bureaus and issuing lenders about how you as the individual cardholder use the card to pay your bills such as utilities. If these consumer data could be formatted in such a way as to provide the basis for a statistical model on probable future behavior in spending, then this could become the foundation for building a credit history.

You would benefit, because by using prepaid credit cards you are rebuilding your credit. The prepaid credit card issuers would benefit, too, because they would be making previously unproven customers bankable. More people could then qualify for regular credit, and that would mean tremendous incremental revenue for the lenders.

If the credit bureaus rate your credit high, you may find your mailbox flooded with credit card offers from the thousands of credit card issuers in the country. There are many banks offering various credit cards, with rewards this and rewards that; platinum, gold, or silver; and so many variations thereof. You may get offers from your professional organization (lawyers, doctors, and engineers), your alumni association, and your environment club or sports association. Thousands of others, who are rated as safe payers by the various credit bureaus, receive similar offers. In fact, every year credit card issuers send out several hundred millions of offers.

To process all of the applications resulting from these offers, the credit card industry makes extensive use of quantification, or credit scoring, to double check whether an applicant should be issued a credit card (or even become target for other kinds of credit). The industry turns to credit bureaus for the quantification part.

The credit bureaus credit scoring systems give creditors the capability to evaluate millions of applicants on a consistent and impartial basis. This has made the credit card one of the most highly efficient methods of obtaining, granting, and expending loans. The credit bureaus base their credit scoring systems on large samples of the population in order to make it statistically valid.

In the credit card industry, the credit scoring system generally involves a two-step process.

First, your credit card application itself is scored by the credit card company. For example, if you own your home you are likely to get more points than if you only rent one. If your application obtains a sufficient number of points, then the credit card company buys your credit report from the three major credit bureaus.

The three credit bureaus operating nationwide are Transunion, Experian, and Equifax. The issuers buy from all three credit bureaus because your Experian credit report will have different ratings from your Equifax credit report, and the credit score Transunion will also differ from the rest. The variation exists because each of these credit bureaus will have different sets of businesses and creditors that report to them. Thus, although the parameters that the credit bureaus track may be similar, the quantification or credit scoring results will differ.

The score on the credit report issued by each of the credit bureaus is central to the decision to issue a card.

As the vice president of a company that is in the business of designing scoring models for lenders once described it, an applicant may submit an application that’s good as gold, but if the credit reports from the credit bureaus are lousy, the applicant will get turned down every time. In other words, it is the numbers on the ratings submitted by the credit bureaus, not the qualitative factors, which are ultimately decisive.

It may turn out, in the end, that the majority of applicants will get approved by one credit card firm or another. Because the profits from the credit card business are extraordinarily high, credit card firms can afford to have a small proportion of cardholders who are delinquent in paying their bills or even some of those who default on their debt. Nonetheless, it is in the interest of credit card companies to weed out those who will not be able to pay their accounts.

Scoring models of the credit bureaus will also vary from one locale to another, and these are regularly updated to reflect changing conditions. Despite great variation between the different credit bureaus’ reports, the following items generally receive the most weight:

· Possession of a number of credit and charge cards (30 per cent or more of the points). You should realize that if you own too many cards, this may cost points, and that having no cards at all may be an even more serious liability. Having too many cards will increase the amount of credit that is available to you at any time, and it would be easy to run up your debt by charging more to the various credit cards. This is what causes concern with the lenders. On the other hand, the credit bureaus believe not having a credit card at all is definitely alarming: there must be something terribly wrong.

· Record of paying off accumulated charges (25 percent or more of the points). You are likely to lose more points if you are delinquent on any of your credit cards than if you are late on a payment to a department store. The observed credit behavior that is common among the credit bureaus’ scoring models is that when people are having economic difficulties, they will try to stay current on their credit card payments but might let their department store bill slide. Thus, if you are delinquent on card bills, this is interpreted as an indication of serious financial difficulties. Delinquencies of 30 days might not cost you too many points, as allowance is given for late payments, but delinquencies of 60 days or more might well scuttle your chances of getting a new card.

· Suits, judgments, and bankruptcies involving the applicant. Bankruptcies are likely to be particularly damaging to your credit rating. Officers of credit bureaus explain that among lenders, they are not in any way forgiving about bankruptcy; the interpretation is that a bankrupt ripped off a creditor and got away with it legally.’

· Measures of stability. You will earn credit points for longer tenure on the job and in your place of residence. In the scoring models of credit bureaus, someone who has lived in the same place for three or more years might get twice as many points as someone who has recently moved.

· Income. It goes without saying that the higher your income, the greater the number of points you will earn from the credit bureaus on this parameter. It will certainly help if you have other income sources in addition to your job.

· Occupation and employer. If you belong to the highest-rated occupations, executives and professionals, you are likely to earn a large number of points from the credit bureaus. Similarly, being in the employ of a stable and profitable firm is likely to garner you many points, whereas employment in a firm on the edge of bankruptcy is likely to be very costly.

· Age. Generally, the older the applicant, the greater the number of points awarded by the credit bureaus. Those who have retired will probably earn fewer points on this aspect.

· Possession of savings and checking accounts. Checking accounts, because they tend to require more ability to manage finances, generally score twice as many points with the credit bureaus than savings accounts do.

· Homeownership (often 15 per cent of the total points). An applicant who owns a home is more stable than one who rents, has a sizable asset to protect, and is responsible for regular payments. This translates to higher points awarded by the credit bureaus.

The role of credit bureaus in making credit card approvals a speedy process cannot be overemphasized. Although you may think the system is arbitrary or impersonal, it does help make decision-making faster, more accurate, and more impartial than individuals. The credit bureaus thus take pains to ensure that their credit scoring models are properly designed to embody this impartiality and give equal credit opportunity — including those who may not garner enough points and become marginal cases in the overall credit scoring system.

FICO Score

A FICO score is in reality a credit score and can tell if you can receive a credit card or not. If you are eligible it can determine how much of a limit you can have on your credit card. This score can carry a lot of impact on your future borrowing and can be disastrous in some cases. The information is collected in your credit report and creditors can use this to determine if you can pay back any monies that you may borrow from them. If you have a high score it is good so the higher your score the better risk you are to the creditor. If your score ranges from 700 to 719 you are able to obtain favorable terms, 675 to 699 is still a good standing, 620 to 674 score may give you a little trouble to get the credit you want, 560 to 619 you will have trouble obtaining credit and if your 500 to 559 then you need to start improving your score.

The score will give you a certain percentage in five categories such as your payment history takes thirty five percent, the amount you owe takes 30 percent, the length of your credit history takes fifteen percent and the types of credit you use takes up ten percent. Lenders look at your payment history and the 35 percent is made up of such things as credit cards, retail accounts, installment loans, finance company payments and mortgages. If you have had any past due accounts they will look at this and at the balance that you have and if you have had bankruptcy in the past they will look at that also. The amount owed, which takes up thirty percent, is based on what you owe on your credit at the time. It also takes into consideration how many accounts you have open at the time you're looking for more credit.

There are various credit card providers to select from in Canada. As long as you have good credit, getting the appropriate credit card provide is no difficult task. In fact, financial organizations and banks make the whole process easy for you.

By doing the application online, Canadians find it quite convenient. There are a number of leading financial service banks and providers that are located in Canada and have no difficulty in selecting the right credit card service providers. This is because credit cards are popular especially in online transactions. Cities such as Vancouver, Toronto and Montreal accept credit cards from any merchant outlets.

There are so many ways in initiating the whole application process for a Canadian credit card. Especially in the time of communicating online, applications over the web are the priority. The processing time is faster than that of actual applications (wherein the individual personally visits the main office of the credit card provider.) It is important to know which credit card is suitable for you. Signing up for the wrong credit card service provider will only result to problems.

Most users look at the APR or the Annual Percentage Rate of their credit card provider options. They compare one to the other. They try to discover what kind of credit card is said to be the requirement basically because there are two kinds – the secured credit card and the unsecured credit card.

Getting a secured credit card means the person must have an excellent credit standing. Also, the processing time of the secured credit card is faster than that of the unsecured credit card. Unsecured credit cards are the last resort of those how have poor credit standing.

Nonetheless, the interests of both credit cards are still high. That is why it is important to compare one credit card provider to the next. Who knows? You might get a better deal if you took the time to compare the APRs.

When applying for a Canadian credit card, it is important that one has the creditworthiness needed for Canadian providers to grant credit cards. There are various credit card service providers but most of the request for collateral. As there are a lot of credit card service providers, it is important that the individual does some background study and research in order to get the credit card provider that is most suitable for him, his lifestyle and his budget.

Web portals and online journals serve as big guides in finding a good credit card. Canadian financial organizations often offer 411 seminars on the selection of credit card and the maintenance of a credit card standing at different times of the year.

Just remember that whenever you apply for a Canadian credit card online, you know what you are getting into. It is important that you know the figures and the facts involve before you sign anything else. You also have to make sure that your identity, and that of your loved ones, are secure whenever you do the application.

Before you sign up for any application online, do a background check on whether this credit card service provider is legal in the big cities in Canada. Once you are sure that this credit card service provider is the real thing and not a hoax, it’s time to do your thing.

Cash gift cards were formerly referred to as the “lazy man’s choice”. It was a way for people to avoid looking for specific gifts since giving gift cards would allow the recipient to make the choice themselves.

However, cash gift cards have enjoyed an increase in fame, with more people choosing them. Hectic lifestyles may be to blame. The combination of having no time and pleasing the gift recipient makes cash gift cards stay in style. So what better option than this person picking her own gift, according to what she wants?

Cash gift cards are available in any budget, from $10 to upwards of $1000. There can even be $2500 limits. They can also be customized to available card designs. Logos can be used by businesses to customize or design their own particular card.

Recently, cash gift cards have been used more and more by businesses. A useful tool for promoting goodwill, rewarding employees is another way of using these. The gift card option allows everyone to buy whatever they want, when they want

Visa, MasterCard, Discover, and American Express are the four companies that provide these cards. Stores also offer gift cards, but the major difference between the two is that store cards can be ‘cashed in’ only at the specified store, whereas cards like Visa and American Express can be used at any store where they use the brand credit card. Many banks also use cash gift cards.

Please note that just because they are called cash gift cards, it does not necessarily mean that the cards can be redeemed for cash. They are pre-paid gifts and work the same way as gift certificates. Bear in mind that many of these cards hold hidden fees and restrictions. The back of the card where the card policy is discussed should always be read with the eyes of a hawk.

So you want or need a new car but you have done some mistakes in the past that has led to a bad credit history? This is quite unfortunate but not an obstacle that you can't cope with. Many people experience difficulties when looking for a new car deal just because they have bankrupted before or simply have made more mistakes with their credit card usage or home mortgage repayment fees. Of course buying a new card with bad credit will not be that easy as buying a car with good credit history however it is possible.

The first thing to worry about is to get the financing right. You can borrow the money from someone; look for bank loans or car dealers' loans.

Bank loans. Despite the fact your credit history is bad there will be banks that will give you the money for your new car. You need to be persistent and patient and check as many banks as possible until you find the best deal.

Once you think you have found it all you need to do it to fill in a loan application and wait for the bank's approval. A significant advantage is that most of the banks have online applications that you can fill from the comfort of your home and without the embarrassment of speaking to bank assistants. Another advantage of applying for a credit with a bank is that most of the banks would respond quickly - usually within one business day. The terms of your credit will be clearly outlined in your contract and the risk of surprises later is almost not present.

Dealer financing. Many car dealers give financing to car buyers - both with bad or good credit history. If you haven't manage to find a loan from a bank than this is your only option.

Dealers would offer you much more flexibility than banks however their terms might not be that good in the long term. Usually you should watch out for "loops" in the contract that would allow the car dealer to change the interest rate drastically or the final car price.

Car dealers usually get the finances from other money institutions so you should be extra careful for the terms. Since you already have a bad credit history you should be extra careful about the terms of the new loan you are taking. Make sure you have read and understood the whole contract; if necessary speak to a professional before signing the documents. The last thing that you want is another unbearable loan that you wouldn't be able to pay off and that would harm your credit more.

If you've ever fallen a couple of payments behind on your Penny's charge or maxed out your Clout Visa, chances are you've encountered phone calls with unfamiliar voices on the other end calling you by your first name. Your credit score's average is off the charts, mostly because there's no rating of -245 isn't in the 300-850 credit score range. Of course, since you're indebted to them for buying one too many pairs of Manolos last month, you have to put up with, "Get out your checkbook and pay your bills," or "I can promise you we're not the ones that you want to have problems with," right?

Quite the contrary, no matter how many overpriced Italian shoes you bought with no means of paying for, collectors have a set standard that they must adhere to in their effort to get the bill paid. In fact, said set standard has a name, it's called The Fair Debt Collection Practices Act; think of it as law enforcement for vultures-or bill collectors-which ever they prefer.

There are even ways to boost your place on the credit score range from bad to, dare we say it, an average score! Ok, ok, so average credit may not get you your beachfront house in Malibu anytime soon. But with Mel Gibson being from Malibu and all, it's only a matter of time before that neighborhood goes. A good credit average can get you out of that 1974 Ford Pinto and into something manufactured in the last decade or so.

Ways to Raise Credit Scores

According to the experts, countless Americans know about as much about ranges, scores, credit averages and how they stack up in it all, as they do about the War of 1812. Not very much, and what you don't know can hurt you.

Understanding were you score on the credit score range is the first step to raising your credit. Be advised that anything above 713 on the 800 point scale is considered good credit, anything below 600 could make getting a loan for a new condo iffy, at best.

You are entitled to one free credit report every year, although the concept of having to pay for a document that contains information about you smells a bit like a warped form of extortion, take advantage of the opportunity. There may just be something there that wasn't there before (Yes, that was a song featured in Disney's Beauty and the Beast). You won't know if you report contains a mistake unless you take a look at it. So get on the phone with Equifax, TransUnion or Experian.

A bad credit score would be a lot easier to stomach if everyone had one, and contrary to popular belief, most people don't. In fact, the average American falls in the 750-799 range, that's roughly 27%. Pay your bills on time: Late payments can lower a credit score by a much as twenty points. Having a $10,000 credit limit doesn't mean that you have to use it. Average scores can go up seventy points just by keeping those balances low.

Yes, all of those pre-qualified cards you get in the mail are tempting, but the more accounts you open, the lower you credit score becomes.

Credit cards are good for establishing credit....as long as their sole purpose isn't financing a daily shopping spree at Bebe. Manage your credit cards responsibly. A responsible cardholder has more options at their disposal than someone who has never had a credit card a day in their lives. How will they prove that they're capable of making payments.

Ask for a payment plan. If you owe American Express $3,000, and you've got $2,500, AE may be willing to settle the debt for that amount. It'll certainly save them legal fees and the pressure of securing a collection agency. Talk it out.

Closing an account that's been pestering you to death doesn't help anything, in fact they're often times still factored into your credit score. The key is dealing with debt. Chances are you're not David Copperfield and that's going to make playing a credit card disappearing act, a difficult feat.

JP Chase can be considered one of the pioneers of the modern bank credit card industry, when it issued its first credit card in 1958 along with the Bank of America. It continues to be a strong credit card issuer, and has introduced a few innovations of its own into the industry.

Over the past couple of months, JP Chase reaffirmed its commitment to establish a strong presence in the business credit card market, by being the first in the industry to issue credit cards with rewards for small business contractors. The JP Chase Contractor credit cards with rewards enable small business contractors to manage and improve their cash flow, by providing 60-day payment terms on qualified purchases in excess of $1,000.

Cash Rewards credit cards

Some JP Chase credit cards with rewards give the card holder cash rewards for usage. The contractors’ credit card is one such example, but there are JP Chase personal credit cards that offer the same cash rewards benefit. JP Chase credit cards with rewards for cash, may give between 2% up to as much as 5% cash back on certain purchases and 1% cash back on all other purchases.

The Chase Business cash rewards card is quite liberal with discounts and will give you 5% cash back on all kinds of purchases. A different card, the Chase Business Card with premier cash rebate will give 3% cash back on purchases at restaurants, gas stations, stand-alone office supplies stores, and home improvement and hardware stores. All other purchases receive 1% cash back.

When you choose between these JP Chase credit cards with rewards for cash, irrespective of whether it is a business credit card or a personal card, you should consider the nature of purchases that you make most often and go for the card that gives the most cash rewards for such purchases.

Flexible Rewards credit cards

Some JP Chase credit cards with rewards offer you flexible reward points. There are some cards that earn 1 point for every $1 spent, and others that earn as much as 3 points per Dollar spent on certain purchases.

The flexibility comes into play when you want to redeem the points. Unlike regular rewards cards, you are afforded a choice between travel, merchandise, cash, or gift certificates/cards. You are allowed to start redeeming when you reach 2,500 points. As a further sweetener, flexible rewards credit cards do not charge any annual fees.

If you select cash redemption, you will get $25 for every 2,500 points (equivalent to a 1% cash back reward). Redemption for travel may be done through an airline ticket, car rentals or hotel stays. If you opt for merchandise, you are given a pick of several products from well-known brands.

Regular Rewards credit cards

Regular rewards cards refer to traditional credit cards with rewards for frequent flyer miles and cash rewards. When you redeem your points for airline tickets through a travel agency service, you are normally charged a fee. You are also subject to restrictions such as space availability and fare classifications. There is also an advance ticketing period of 21 days.

In all of these JP Chase credit cards with rewards, you earn points only on actual purchases not on balances transferred, other non-purchase transactions and cash advances.

Cardholders can sign up for the free program at their credit card company's website. When they want to make an online purchase, they receive a 16-digit number, randomly generated by the credit card company. This temporary credit card number can be used once or sometimes repeatedly at the same online store.

virtual prepaid credit card numbers were initially designed for Internet shopping, but can be also used for purchases made over the phone as well as through the mail. However, they cannot be used for in-store purchases or whenever a traditional plastic credit card is required for payment.

The virtual credit card technology has been around for six years, but according to consumer advocates the technology has not been very popular with consumers. Interest in virtual credit cards seems to be increasing, though, thanks to recent headlines regarding identity theft breaches. A major benefit of virtual card programs is that personal information is concealed during the transaction.

A recent study found that 46% of credit card fraud victims had no idea how fraud occurred, but 21% said they believed their credit card number was stolen off the Internet. Obviously, card issuers hope that virtual card programs will help address such concerns.

The virtual card program is simply an extra layer of security to protect the credit and identity of consumers who choose to buy online, much like installing a home security system helps to protect a home from intruders.

Is online shopping really safe?
Stories of high-tech hackers breaking into company databases on the Internet to steal customer information (such as credit card numbers) stop many people from making online purchases. Although these types of problems don’t happen often, there is an ever-present fear among consumers that the wrong person may get hold of their credit card number or other private information.

Because of booming e-commerce and the love affair with the Internet, there is much at stake for credit card companies should these problems or fears get out of hand. As you might expect, companies are working quickly with new technology to stop the problems and calm the fears of their customers. Their solution? Disposable or temporary credit card transaction numbers.

Private Payments assigns unique random numbers that are linked to a consumer’s actual card account, but the numbers are only temporary and do not reveal any private information. This temporary credit card number is good for one purchase only, meaning that it does no good for someone to swipe that number because they won’t be able to use it after the initial purchase.

For example, each single-use card number is unique to an online store that you visit and will not be valid at any other store. In addition, you may use the same number for recurring charges such as monthly bills that you elect to pay online. Although disposable credit card numbers are not available with every company yet, do not be surprised if these types of programs are offered by most major credit card companies soon. Regardless of whether you take advantage of disposable card numbers , you should always protect yourself with safe Internet shopping practices.

The British insolvency code is under attack from small to medium sized business owners. There are elements of the code that said owners find quite biased. Here, in a nutshell, we will expose a few of the issues to stimulate further research.

Economist contend that when secured creditors hold all, or nearly all, control rights for a company in distress, then it creates an non-objective tendency towards liquidation. It is further argued that small and multi-party creditors are difficult to rescue when insolvency standards are not based with collective action. It is proposed that they in turn will not succeed in realizing the value of collective action, and thereby panic themselves into a ‘creditor’s run’ mentality.

‘Lazy banks’ are created as a result of heavy collateral lending in the UK banking system. With such collateral on the line, the banks fail to monitor the vitality of businesses until they are in financial distress. Lenders therefore possess superior bargaining positions in terms of working out agreements. This often prevents valuable renegotiations from taking place. On a more positive note, companies are often spared mandatory insolvency proceedings if they replace management and make substantial, yet partial repayments of principal.

Unlike in the US, the British insolvency code is operated almost entirely outside of the court system. The bank’s powers are seldom questioned or challenged. It is prevalently argued that this undisputed control exerted by the banking system hinders competition in the general marketplace.

The most common method of recuperation before forced insolvency utilized by business owners and individuals in financial distress are CVAs and IVAs. CVAs (Company Voluntary Arrangements) allow a company to settle their debts. Current directors remain in control of the business. Creditors favor CVAs because they receive more with these than a company that goes under. They ease cash flow issues and stop court actions.

Individual Voluntary Arrangements (IVAs) likewise allow individuals to relax by stopping chasing letters and court actions. They also freeze interest from accruing on debts. Both CVAs and IVAs must have cooperation from 75% or more of a company’s or individual’s creditors.

You've probably heard that your credit score is important to getting a mortgage, but maybe you don't really know what your score is and what it means to your mortgage loan application process.

Let's start with the basics. Your credit score is actually called your FICO score. FICO refers to the credit reporting agency Fair Isaac Corporation that lenders turn to when it comes time for credit scoring of home loan mortgage application. Although the exact formula for deriving a credit score isn’t known, we do know that your credit score is based on your total amount of debt, your repayments of debt in the past, and the availability of credit.

FICO scores can range from 300 to 850. The higher your score the better; while 850 represents the “perfect” credit score, no one ever attains the perfect score (well, maybe Bill Gates or Warren Buffett).

When it comes time to take out a mortgage, your FICO score means a lot. First, the decision of whether you will get a mortgage at all rests on your credit score. If your score is lower than 500, chances are you won’t be able to qualify for a home loan. You should work with a mortgage expert or credit counselor to find ways to raise your score. It may take some time, but it’s not impossible.

If you have a credit score that ranges between 500 and 600, you should be able to qualify for a mortgage loan. You will have to make a down payment on the loan, and you might have to pay a slightly higher interest rate, but you can buy a home.

If your score is between 600 and 640, you should have no problems finding a loan with a good interest. You should also be eligible for a variety of minimal down payment mortgage loan programs.

If your score is between 640 and 700, you are in excellent credit shape. Not only can you qualify for a loan, you can qualify for loan programs that don’t require down payments and offer great interest rates.

As you can see, your credit score is one way of determining what level of risk you are to the lender. When you have a higher credit score, you present little credit risk to a lender or financial institution. These lenders are more interested in offering competitive mortgage programs to individuals.

No one wants to be merely a number, but when it comes to the mortgage loan application process, your FICO score is an incredibly important number. You should protect your credit score by carefully evaluating your available credit, your debt ratio and how quickly you repay your debts. It’s an important asset in your financial health.

Steve Essington has been in the mortgage business for over 9 years. He is licensed in Arizona, New Mexico, Oklahoma and California. Steve believes in smart financial planning for today and tomorrow and that integrity always comes first.