Wednesday, February 28, 2007

Wealth - How to Save Thousands and Increase Your Net Wealth

It is amazing how so many of us are so tied up with our work and our busy lifestyles that we can let something of great importance to our future just slip by without even realizing it. I'm talking about wealth creation here.

Even professional people who have excellent educations and years and years of senior service in highly responsible positions tend to overlook these things.

After studying a book on personal wealth creation for several weeks here is what a Senior Accountant had to say:

"I have just had an offer accepted on my first house! I am SO excited, it is a dream I didn't expect to come true, especially in light of the heated Perth housing market."

Just to give you some background on where this accountant was coming from he also said:

"I am an accountant working for a 'big four' accounting firm. Throughout university, and since, I have been taught how to create balance sheets, profit and loss statements, write company reports, manage tax, grow businesses and numerous other accounting functions. One thing I have never paid attention to however, is the creating of my own personal wealth."

After reading this book he concluded by saying:

"Reading this book and following the exercises I was shocked at the miserable state of my own financial affairs. Through the use of the examples and exercises, I have started to turn that around! As I mentioned, I have just purchased a house, and I'm on the way to generating some serious assets!"

What a brilliant outcome and all from reading and studying something as simple as a book!

Now, let me ask you this. If a Senior Accountant makes these comments what sort of value do you think that reading a personal wealth creation book contains? Do you think such a book might hold a few ideas for you?

One thing is certain. We all need as much information as possible in this quest for future wealth. If we mess it up or do nothing to help ourselves then our future will indeed be bleak.

There are more and more people in this world competing for a dwindling, finite amount of resources. Simple economics tells us that costs will rise. You know that this is true. Look at the proof. We are all facing increasing costs for fuel, water, groceries, utilities.

This means that YOU will need more and more money to fund your lifestyle. You cannot afford just to sit back and drift with the tide. Swim against the tide NOW. Do the hard yards now, just like the accountant has, and your future will be so much easier.

Tuesday, February 27, 2007

You Can Get A MasterCard or Visa Secured Credit Card Even With Bad Credit

Among many of the credit cards available for secured credit, there is both MasterCard and Visa secured credit card. These credit cards are available for bad credit customers, who are seeking to repair their credit history. If you are trying to rebuild your credit score a MasterCard or Visa secured credit card are an excellent way to begin to do that.

A MasterCard or Visa secured credit card operates very much like a regular unsecured credit card. The primary difference is that with a secured card, you must make a deposit with the issuing bank in an amount sufficient to cover the credit line the bank extends to you. When you receive your MasterCard or Visa secured credit card, you can use it like any other card. You will pay an annual fee, an interest rate, and possibly other fees unique to a secured card, such as an application fee.

Just like with a regular credit card, you will receive a monthly bill, and you must pay your minimum monthly payment, or you can pay your balance in full. However, be aware that with a MasterCard or Visa secured credit card, you will not be charging against the deposit that you have with the issuing bank, as with a debit card. Your deposit is kept by the bank to secure your card, not as a balance to withdraw against. You will still have to make a monthly payment to be in good standing, just like a traditional revolving credit card. It is not the same as a debit card that you might use with your checking or savings account.

If you make your payments on time, and do not pay late, you will start to see an improved impact on your credit. Using a MasterCard or Visa secured credit card to improve your credit score is a great idea, because a MasterCard or Visa secured credit card can cost less in fees than a bad credit unsecured card. In addition, nearly all applicants are approved for secured credit, since the bank is certain that it will get repaid by keeping your collateral, or deposit balance. The bank has much less risk that it may not be repaid.

A MasterCard or Visa secured credit card is very much like any other secured loan. Your deposit is the security for the banks loan to you of a credit line, and you use your credit card to access that secured credit line. There are many lenders to offer either MasterCard or Visa a secured credit card accounts to bad credit clients. Be sure to shop around before applying to be certain you're getting the best fees. Using an MasterCard or Visa secured credit card is a great way to have a credit card for daily needs, and repair your credit in the process.

Sunday, February 18, 2007

Finding the Best Credit Cards

By Matthew Mitchell

Credit card companies are competing for your business. They are using big incentives to get your attention. Even those with bad credit are being targeted. With all these credit card offers how do you find the best cards? These tips will guide you pass the pitfalls and into the ideal credit card.

Tip One – Compare multiple offers at once

If you’re like me you get hundreds of credit card offers in the mail every year. Each of the envelopes is designed to make you want to open them. They splash their offering on the outside or invite you too look deeper into what they have for you. At first glance some of the offerings sound really good. They offer free interest, bonus points, gift certificates, and cash back. No matter how good the offer sounds you don’t know how good it is until you’ve compared multiple offers against each other. There are multiple items that need to be considered at the same time to get the whole picture. So as a general rule of thumb: don’t sign up for the first offer that comes your way.

Tip Two – Look for hidden fees and penalties

One trick credit card companies have started doing is revoking benefits if you are late with a payment with ANY creditor. Even though you have a perfect record with them they can still take away the free interest and other perks if your credit score changes. A dirty trick? Yes, so look for that in the fine print.

The other little trick is asking if you want extra protection for your credit cards. They’ve really ramped up the efforts to get you to spent and extra dollar or two for every hundred you have on your balance. They get an extra 1-2% every month without lending any more money. In some cases it might make sense to get extra protection but just realize that your APR is going to be much higher as a result.

Tip Three – Look beyond the offering

Some cards offer the best benefits and look like the clear winner compared to everything else. Carefully examine the whole offer before signing up because there might be a catch. First, look to see if there’s a yearly fee. Second, if there isn’t a yearly fee look at the APR for purchases and balance transfers. If everything checks out there look at how the rewards are given back to you. Sometimes using the rewards has so many restrictions that it’s impossible to get the use out of them.

Tip Four – Compare cards using a rating system

A way to compare multiple cards quickly is by using a rating system. A rating system will give you the gist of what people with the cards have experienced. While rating systems aren’t perfect they do give a snapshot of what’s good and what’s not.

Tip Five – Get a business credit card when you can

If you can applying for a business credit card will give you the best perks. Even if your business is very small or not yet formed business credit are worth pursuing. They often combine to of the best perks, zero percent interest and rewards, where other cards will only do one or the other.

Additional Resources: Compare Credit Card Offers Online

Friday, February 16, 2007

You Must Choose the Right Credit Card for You


The question is which credit cards are right for you. Not all credit cards are the same. Some have a fixed rate, which simply means the APR doesn't change, or at least not that often. Most credit cards are open lines of credit, that you can use to make purchases. Most of them are unsecured, while a few are secured or prepaid. Prepaid credit cards are offered by a lot of major companies and act some what like a debit card, because you will need to open an account and your credit card will be funded by this account. These are great for people starting out with little or no credit or rebuilding credit. Low interest rate cards, are ideal for people with good credit that would like to take advantage of reduced interest rates. Some credit cards have an annual fee, while others do not. Some earn reward points. Store credit cards work similarly to regular credit cards, except there is no annual fee, and the card is only good for purchases at that particular store. These store cards are also effective at rebuilding credit.

You would be surprised at the overall number of people who just don't bother to compare credit cards before signing up for them. You should compare the different features, different benefits, and details of various credit cards. Find, compare, and read reviews before you decide. You wouldn't buy a car without comparing details or benefits, and you never buy a house without looking at several first. Just apply these same principles to credit cards.

Credit cards are convenient for customers and can be beneficial if used correctly. They are the perfect way to finance larger items while still earning points for everyday purchases. Just shop around first, and get the right credit card for you.

Pat Wood is the author and owner of the website She has been in the banking industry since 1987 and has written several articles on credit and debt

Thursday, February 15, 2007

Small Claims Courts and How They Work

By Chuck Lunsford

So you’ve decided to go down to the courthouse and go to the Small Claims Division. What now you ask. Let’s take a look at the how and why regarding small claims courts. How did they come about and why are they used so extensively.

The first small claims court was created in Cleveland in 1913. Within a few years every state had such a court of limited jurisdiction. Small claims courts are attractive for consumers who want to collect a small debt or recover damages for a faulty product or for shoddy service. However, small claims courts are used heavily by businesses and public utilities that want to collect payments from customers for unpaid bills. In a single court session, a department store, utility company, or hospital may obtain judgments against a long list of debtors, making the process very economical.

We do not need an attorney to represent us. When you do go to courtroom, you will perhaps be surprised to see this group of people, wearing official badges and sitting in the jury box. Relax; you didn’t accidentally stumble into some major hearing about to take place. Read on.

These folks are called mediators. They have been handpicked by the court and are highly qualified to act on most cases. They have years of knowledge and experience that effectively works for both parties. When the clerk of the court calls your name and the name of the other party, you will both stand up. When the clerk of the court recognizes both parties are present, he or she will hand a mediator your file at which point your little group goes off into a private room.

The mediators do not get to see the file beforehand. The mediator looks at the file, read the statement of claim and asks if there is any conciliatory manner in which the problem can be solved, short of a trial before a judge. During the discussion that follows both parties soon realize the additional costs, time and chances of losing might be. The mediator’s efforts are to settle this out of court. If there is no chance for settlement, you are then instructed to go back into the courtroom and wait for the judge. It’s unlikely you will have a trial that day. The clerk of the court has to schedule it for another day. Sometimes the judge will hear trials that day but you have no idea at what time. If you do decide to stick around that make sure you are ready when your name is called. If you or the other party is not present then the absent party loses by default.

The small claims courts work very efficiently and you can receive rewards up to $7500 depending on the state in which you reside. How to collect is another matter entirely.

Chuck Lunsford is the owner and developer of He offers advice on how to get your credit in order and working for you. Visit his website and learn more about florida mortgage rates.

Wednesday, February 14, 2007

The Effects Of Consumer Debt On UK Society

By Martin McAllister

The National Consumer Council reports that 6 million families in the UK are already struggling with debt. The UK level of debt recently crossed the £1 trillion threshold, of which approximately 80% is due to credit cards, loans and mortgages. In the past 6 years, the number of people seeking debt advice has risen by 44%, and is expected to rise even further.

People find it difficult to make debt repayments for a number of reasons. Most often, the main cause of non-payment is usually down to some form of change in personal circumstances such as unemployment, divorce, illness or a new arrival in the family. In these circumstances, many people look towards borrowing more in order to pay off creditors or household bills. Unfortunately, taking on more debt to pay off existing commitments is often a recipe for disaster.

However, debt can have an effect on more than just a person’s financial affairs. In fact, debt is a major contributor towards stress, depression, anxiety, mental health problems, relationship breakdown and even suicide in some severe instances. A lack of financial awareness is often cited as a reason for people falling into debt. Although debt is a nationwide problem, and affects people of all ages and backgrounds, the financial cost of debt is not limited to an individual and in fact can impact greatly on society.

Many people believe the Government should do more to highlight the issue of financial awareness, targeting the loan companies and credit card issuers whose advertisements run constantly on televisions across the country. In many cases, consumers become seduced by the promise of lower payments and relief from their debt burden without realising that they could well end up spending more money in the long term as many loans advertised can have repayments run for periods up to 25 years.

If you pay creditors on time, regardless of what it takes to pay them, you are classed as a good payer and therefore, not a risk when it comes to additional borrowing. In fact, your finances might be in chaos and you could be using money from one credit card to pay debts on another credit card, but many lenders will still provide further finance. As a result, outstanding debts are merely maintained, with payments primarily being made towards interest with little or no monies going towards the actual balance of the debt.

Many debtors find themselves in the hands of specialist debt collection agencies. There are many such companies in the UK, such as Capquest Debt Recovery who buy delinquent debts from creditors and then pursue the debtor themselves for the balance owed. However, for many people, arranging an IVA (Individual Voluntary Arrangement) is a viable solution, allowing a lower payment to be made to creditors over a period of time. There are several companies who can provide advice on this course of action.

If people find themselves in financial difficulty, there is a wealth of free financial advice available to help. The Citizens Advice Bureau can help to negotiate repayment plans with creditors and debt collection agencies, so that monthly payments are reduced and become manageable. By seeking out such advice, tackling the problem of debt needn’t be as daunting as it might appear and could in fact have a positive effect on both the financial and social aspects of being in debt and lead to financial problems being a thing of the past.

The Capquest Group are members of the Credit Services Association.

Martin McAllister is an online, freelance journalist.

Tuesday, February 13, 2007

Credit Cards, Those Convenient Little Pieces Of Plastic

By Kate Ross

Pre Approved Credit Cards

This does not mean that they will automatically give anyone any amount of credit. Just like in credit repair, they will give you a small amount at first, so you can go around with your useful credit card, without having to carry any cash in your pocket, further than a few coins or a stray dollar bill. Pre-approved means that you have the card granted from the start. The difference is in how much credit you get.

This Modern World

The modern world we live in, pushes us towards doing what everyone else does, without knowing HOW everyone else does it. Repeating other people’s mistakes is the most common thing on Planet Earth. That is why there are so few who make a real difference and who are admired for their keen eye for business and finance.

The Most Common Mistake

Even though it may seem obvious to the outside observer, it is not so obvious to the card holder, especially when he or she want something very badly and think that the fact of having a credit card means something like an extra salary or extra money in their bank accounts. Yes, a bad administration of your credit card is the most common mistake.

Still, A Credit Card Is So Necessary…

That’s right, it is necessary, but it won’t create money where there isn’t any. If you have incurred in a heavy credit card debt, the first thing you need is a loan to get out of debt fast, refreshing your finances with better repay conditions. Next, a pre-approved credit card is a good helping hand, with a low credit allowance at first, and increasing as you show that you are once more reliable.

Make sure you don’t spend more than your actual income and before you make any purchase other than your normal everyday expenses, take a paper and pen and work out your numbers carefully.

But… Where do I Get One Of These?

I dare say there are more pre-approved credit card issuers than the “normal” ones. There are countless possibilities on line for you to choose from, comfortably seated at home or in your office. The processing time is also very short and you’ll be once more on your way to a normal life. Let it be an experience you have learned in this tough world, to rely on your real possibilities, not fake ones.

An Interesting Conclusion

They could have called them “credit cards for bad credit”, “credit cards for doubtful customers” if they had wanted to look at the dark side of things. The real fact is, there are credit cards that are issued whatever the situation you are in. Everybody deserves the chance to make things better and live just like everybody else.

Kate Ross is a professional consultant at Smart tips and interesting articles on this subject and other financial related topics can be found in her website.

Tuesday, February 06, 2007

3 Debt Solutions to Consider

By Antonio Silver

If you are looking for a way to pull yourself out of debt, you may want to consider the debt solutions that are available to you. You first need to realize the choices you have to help you pay off those bills and get your life back to normal. There are various solutions to choose from and, many times, your choice of a solution will depend on the severity of your debt.

Debt Consolidation

Debt consolidation is one of various debt solutions that can help you get back in control of your debt. While consolidating your debt will not lower your debt in any way, it will help you pay off the debt faster and allow you to get a better interest rate on your debt as well. There are many different ways to consolidate your debt, including credit cards with low interest rates, home equity loans and debt consolidation loans. Whatever way you choose to consolidate your debt, it will help stabilize your finances and may keep you from having to go with more drastic solutions.

Liquidating Assets

Another way to get rid of your debt may mean converting into cash any assets that you may have to avoid collection distress or bankruptcy. If you have property that you can sell, including extra cars, snowmobiles, or household items, you can sell them and use the money to pay off your high interest debts. While this may seem like one of the drastic debt solutions, selling your valuable property may be the best way to keep from going bankrupt in the future. With the strain of mounting debt it is difficult to avoid filing for bankruptcy.


This should always be your final solution to your debt problems. Many times, bankruptcy may be the only solution that you can come to. It is important that you remember that bankruptcy will be around to plague your credit report for up to seven years in the future. If this is the only way to deal with the debt that you have, it can help you and allow you to start again to rebuild your credit file.

While there are various solutions available to help you if you owe a great amount of debt, the best solution is to learn how to avoid getting into debt. Take on debt you can easily pay back, and avoid debt that may strain your monthly income. Saving for high ticket items like home appliances, cars, and recreational equipment can also mean paying cash for such items.

Paying cash for lifestyle and high ticket items means you would not need a debt solution. Limiting your debt and paying off your debt monthly can help you keep away from nasty debt collectors who can make your life miserable. On the other hand, if you take measures early on to avoid debt and to deal with it before it gets out of hand, you can avoid having to sell your assets.

Get the latest in debt solutions know how from the only true source at Check out our debt solutions pages.

Monday, February 05, 2007

The Low APR Credit Card and the Long-term Benefits

By J. William Arnold

When there are no shortages of credit cards, which is the best credit card offer? A worthier question to ask would be which credit card offer is the best for you? The spending habits of one person are different from that of another. Their lifestyles change and as a result their need changes as well. So for deciding on which credit card offer is best for you, you need to calculate your needs your lifestyle and your spending habits. However, if you frequently travel by air, an airline credit card might be preferable for you than the general purpose one.

Credit card providers, seeing an opportunity unfolding, immediately began to give0 percent APR (annual percentage rate) credit cards to new cardholders and still extended the offer to their ongoing customers. Even worse, some consumers transfer balances thinking they will attain a break from interest and be capable to pay the balance quickly, merely to find out the offer does not apply to the amount they transfer. Some cards offer 0 percent APR on balance transfers, but once that is paid off the APR goes up.

So, first you need to assess whether you need to go only for low interest credit cards and then choose the low interest credit card that fulfills your need. After all, you don't go hunting for a credit card everyday. Just search through the internet and you will see by the total of credit card offers advertised just how countless sites there is. Move around the web and you will discover credit card offers all over. So, the credit card offers are everywhere. Why are there so many credit card offers? Well, simply because credit card trade is a lucrative business for the credit card suppliers. A good notion is to consider a low APR credit card, since this will give you more savings over time.

Search out credit card companies that offer a low APR credit card. Competition is rigid and credit card financial institutions offer many perks, rewards, points, low APR credit cards and additional enticements. Although if you're not opposed to doing several switching, you can always apply for a low APR credit card and a 0 percentage APR credit card. When the introductory period on your 0 percent APR credit card expire transfer the balance to your low APR credit card and you will have a long-term solution.

Do not take the introductory offer for 0 APR credit cards at face value. When you see all the differing incentive programs, rewards and of course the 0 APR feature you may determine you should jump in and get that card before the offer expire. Consider the APR after the introductory period. That's why most turn to a low APR credit card rather getting short-term intro on a 0 percent APR credit card.

The essential reason behind this tempting offer is to lure the consumers to their bait. The 0 APR credit cards balance transfers offer great short-term savings, (unlike the low APR credit card) free up money to pay debt quicker, and can eventually save consumers hundreds, if not thousands of dollars in interest over their duration. A low APR credit card offer consumer's great long-term savings.

J. William Arnold has been involved in writing articles since 2001.For more information on a low APR credit card. Just click on the following link.

Thursday, February 01, 2007

Instant Credit Cards

By Elizabeth Beecher

Internet has made almost everything accessible with just a single click of a mouse. Online shopping and convenience of searching and buying things from the comfort of our homes have made great transformations in the behavior of today’s buyers. Most of us get mad if we cannot order something right the very moment we see it on the screen, forgetting that we used to drive to the stores, call in for catalog purchases and it all took a lot of time. It seems that same kind of expectations have transferred to everything else in our lives. It also includes credit cards.

Most of the major credit card providers try to accommodate the new habits of Internet generation by providing online credit card applications with instant or close to instant responses. The banks understand that they cannot make anyone wait for their approval the way it used to be. Otherwise they will be losing clients. Advantages of instant credit cards, as with most other online transactions, can be described in two words: “Very fast!”. If it takes one at least a week to get a response from the credit card company and at the end he or she gets rejected, then the waiting time becomes the lost time one could spend looking for another offer. No one wants to live through this frustration anymore. That is the main reason why the instant credit cards are so popular.

Among the instant credit card offers circulating the world wide web one can find applications from Discover, Chase, Citi, AmEx, and some other card providers. To see some of the hottest and most current instant credit card offers you can visits sites, such as, that host comprehensive and up to date lists of online deals.

Although for many of us getting an instant response is very important, we should not forget about the main reasons for getting credit cards. We should never pick a card with higher APR just because it will come with an instant approval. Other features, such as the length of intro period, balance transfer and annual fees, have to be considered before applying for a card. In other words: “Do not let lack of patience leave you without the best choice and card you deserve.”

There's often a lot of confusion about credit cards and which credit card is the best fit for your needs. All credit card companies have amazing offers - or so it would seem. When deciding on a credit card - read the fine print and make sure you know what you're actually signing up for.

Card Fusion has the information to help you decide which credit card is best for your situation. The Learning Center is an excellent resource when shopping for a credit card.