Which Comes Up Trumps – Cheques Or Credit Cards?
Writing a cheque for goods or to settle a bill is rapidly becoming a thing of the past, according to the payment clearing association APACs. Their figures show that only one in ten non-cash transactions are now completed by cheque, compared to over half in 1990. Debit and credit cards are now the top choice amongst UK payers and their usage continues to grow in popularity. And it will only get worse for cheques as APACs predict that usage will dwindle to less than 3% in 2016. Spokesman Simon Bennet said:
“The availability to pay by alternative methods such as plastic cards has grown so dramatically that people find it much easier to use their debit cards than to write out a cheque … Small businesses prefer to use cheques when paying out because it means they can have money in their bank account for slightly longer, but they like to receive income by quicker methods like cards.”
How To Make Sure Your Credit File Is Correct!
You may be surprised to find out that credit files can often contain incorrect or inaccurate information which could seriously impact on your chances of getting financial services such as credit cards or loans. Sometimes this can put you in extremely difficult positions with financial institutions, especially if you’re looking to apply for one of their products.
A great way to keep on top of your credit file and make sure all the details are correct is to get hold of a copy for your self and take a read through! You’ll find that there are three main companies that keep credit files on consumers. These are Experian, Equifax and TransUnion. All three of these will be happy to provide you with a paper copy of your credit file for a small admin charge. Alternatively you can visit their websites and get your credit file online.
Credit Card Companies And Ssn Mixup!
If you ever get your social security number mixed up at one of the credit card companies, you are in for a ride.
It recently happened to my daughter. The credit card companies somehow had my elder daughter’s SSN on the my younger daughter’s record. In order to clear the mix up they wanted us to get a certification from Social Security Administration. Easy said than done!
When you call the Social Security Administration, they have no idea what you are talking about. It seems government offices have no idea about anything anyway. But that is another story.
So we called the credit card company back that Social Security Administration has no idea what ‘certification’ you are talking about. The credit card company said, to get on the Social Security Administration letterhead saying that the SSN belongs to you. Simple, right? Wrong!
Tripping The Credit Card Fantastic
At this time of year, thousands of us will be looking forward to jetting off on our summer holidays. If your holiday is just around the corner, you may just now be checking your travel insurance and purchasing a policy that will cover you for every eventuality. However, if you bought your holiday with your credit card you may already have some holiday perks that you just didn’t know about.
With research showing that as many as one in three holidaymakers pay for their trip by credit card, it’s well worth you looking at what travel bonuses your card may automatically include as part of your purchase. In the past ten months, the average amount of travel accident cover on a credit card has increased by around £23,000, from £84,534 to £107,547.
Bring Financial Discipline To Your Life By Credit Card Debt Management
The world is full of good things, which we can always acquire to make our life better. The urge to get them is strong as well. Moreover, we have credit cards to acquire them. Managing finance through credit cards is easy. However, are we also looking at credit card debt management at the same time?
Am I Paying More For My Desires?
Let us take up an example. I go for a luxury car for $27,000. I pay $7000 cash down through credit card with $100 monthly. At the first card due date, I revolve the credit and pay up minimum required $ 500. Now, on the unpaid balance of $6500, I will be paying interest @ 2.5%, which comes to $162. The interest is more than my monthly installment. If this continues, the car could finally cost me $30,000 or even more, with all interest and late penalties on overdue installments put together.
Finding A Great Credit Card Offer
Most likely on nearly all days when you check your mail, your box is swarming with offers and applications for credit cards. How do you know which companies are presenting you a good deal, and won’t take over your wallet with excessive finance charges and hidden fees in the future?
If you complete an offer online, make sure the site is secure to guard your personal info. This is the fastest way to be approved and you usually have an answer within hours. When completing an offer over the phone, do not give out any personal info, such as your social security number to anyone that you did not apply for information from first.
Balance Transfer Credit Card Offers – What You Need To Know
Is a balance transfer credit card your ticket out of credit card debt? It can be. If you’re having trouble paying off a steep balance and the high interest that goes with it, these cards could be the right solution for you. But before filling out an application, take a few factors into consideration. Educate yourself on the transfer process, and you’ll get the most out of your credit card experience.
What Balance Transfer Credit Cards Are
These credit cards have a certain appeal that separates them from other forms of plastic. They offer applicants the chance to shift a balance from a high-interest card to a low-interest one. In fact, most of these cards come with an initial 0% interest period. This means you can make payments that are directly applied toward the balance. As you pay down the debt, you can save hundreds of dollars on interest expense.
Credit Scoring Formula
FICO Credit Scoring is a method developed by Fair Isaac & Co. to evaluate your ‘credit worthiness’.
There are really three FICO scores computed to find my FICO Score. They are found by data provided by each of the three bureaus – Experian, Trans Union and Equifax. Some lenders use one of these three scores, while other lenders may use the middle score.
While the most widely-known score in the United States is FICO (which is most widely used in the mortgage industry), there are many others, such as NextGen and Vantage Score.
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