Is it legal to pay off debt with a credit card?

Have you ever found yourself wondering ''How did I get myself into this debt?'', wishing you had that car insurance before the accident?

Unfortunately, we cannot turn back time, but we can offer you solutions for paying off your debt.

Even though it would be great if we could pay off one credit card with another credit card, that is not exactly the case.

Paying off a credit card with another credit card

This is, unfortunately, not possible. Bouncing the debt between two credit cards may be the simplest solution that crosses your mind, but in reality, credit card companies don't allow you to pay off your balance with another credit card.

Luckily, there is another kind of similar option you might be interested in. We are talking about balance transfer and cash advances – two ways of making that debt go away forever!

Balance transfers

This is a very quick way of transferring your debt from one credit card to another with a lower interest rate. Before you do this, calculate!

Debt transfer to a card that offers you more financial benefit can often hide additional fees and expenses, so you might end up with the same paying amount.

Through this process of paying some benefits, be careful – a lot of people don’t know what exactly they are paying for. Exercise your rights and monitor the Packaged Bank Account situation.

Pros for balance transfers

If you are looking for saving your money in the long run, balance transfers are a great tool! Some credit cards have better reward programs and perks, so don't miss it.

Starting with an interest-free period, credit card companies give you 12 to 18 months to convince you to transfer your balance.

Cash advance

If you are looking for the fastest way out, this is the solution that can help you in your intention.

Considering your line of credit, you can take a cash advance out with the help of credit issuers. Be aware of the fact that borrowing amount will add up to your owing amount at the end of every billing cycle!

This is a solution with a higher risk than balance transfers. However, taking that risk may pay off in the end!

Keep in mind expenses and fees – even though this is the fastest way out, it comes with its price.

Pros for cash advance

As said before, the biggest advantage of cash advances is saving time. This can be done very quickly and you could pay off your debt as soon as possible.

Getting the cash advance immediately can decrease your stress and reduce your worries!

So which one is a better solution?

Considering all the pros and cons of these two solutions, there is no right universal answer. Weigh the relevant factors and consider your abilities.

If you want to pay your debt as soon as possible, a cash advance may be your route. On the other hand, a safer and cheaper option is balance transfers, but they take time.

5 Personal Savings Tips to Put Your Savings on Auto Pilot

Putting money into savings is always a smart decision, but it's not always clear how to work that into the budget. After all, having the money sitting there in your checking just opens up the possibly of making unnecessary and impulse purchases. To take care of your hard-earned money, tese five tips will help you go from becoming a chronic spender to a chronic saver, all without having to change your habits directly.

Set Up Regular Automatic Withdrawals

Automated deposits are fast and easy because they happen without you having to worry about them. You should always have a comfortable emergency buffer in savings to help deal with any unforeseen expenses, preferably around six months of your usual salary. Automatically depositing a percentage of your earnings before you account for everything else is like paying your future self to save both time and stress. Set this up immediately if you haven't implemented a savings policy yet as it is the main thing that will help you start saving more.If you work hourly and can't figure out how to set up an automated savings schedule that works with your budget, consider small savings apps like Acorns and Digit that will round out all of your purchases and store the savings in an account for later use. You'd be surprised how much those little savings bits can add up!

Split Your Direct Deposit When Submitting to Tour Employer

Most employers pay by using direct deposit, but you don't have to have all of your funds deposited into one account. You can set up a percentage split with most employers that will see a portion of your income going directly into savings. You're less likely to pull it out of savings and spend it than you are if you leave it sitting in your checking account.

Switch to a Bank or Credit Union that Pays Interest on Savings

Stop banking with an institution that doesn't pay you a dividend on the money you're saving with them. Most standard big corporate banks like US Bank and Bank of America pay paltry interest rates on their savings accounts and charge account maintenance fees on top of that. If you're paying your bank to hold an account, then you're losing money you could otherwise be saving.Online-only banks like Ally and Capital One 360 offer competitive 1.80% APY on their savings accounts and often have multiple options that can be tailored to suit your needs, depending on the amount of money you're saving.

Consider Using a Cash-Back Credit Card for Daily Purchases

Instead of using your debit card for all of your necessary daily purchases, consider putting them on a cash back credit card that will give you a percentage of the purchase price in rewards. Currently, the PayPal Rewards Master card offers 5% cashback on every single purchase, with no rotating rewards categories.If you pay the card off each month and do not carry a balance, that's like getting 5% of what you would have spent back for more savings or to help with those everyday purchases further down the line.

Consider Shopping Around for Your Insurance Needs

If you've been with the same insurance provider for a while, chances are you've seen small rate increases on your bill over the years. These rate increases can account for a significant rise in your budget if you're not careful, so it pays to shop around for both car and house insurance periodically. Shopping around helps to ensure that insurance rates do not increase beyond your means and keeps insurance companies competitive for your business. For car insurance, you will need to have a spotless driving record and be comfortable haggling for rates, but you can always net a more effective rate by talking with your insurance company. Just tell them you're considering switching to a competitor who has a better offer. 9 times out of 10 they want to keep your business and will offer you the competitor’s rate if you stay.

Credit: Is It Always Bad?

Credit gets a bad wrap in financial circles, especially those focused on helping folks get out of debt. However, is getting credit always such a dangerous thing? We’ll investigate below. 

Credit is Good - How The System Works

One reason that credit could be said to be good or at least valuable is that it is the system that allows you to make big-ticket purchases without having the cash to pay for them outright. Yes, OK, in an ideal world we’d all buy our yachts, houses, and vehicles in one single purchase, but in reality, this hardly ever happens. Despite this situation though, we can see get access to these things, and that is largely due to credit. 

Credit is Bad - Can Create Debt

The biggest problem that many people have with credit is the charges that are made to use it. These usually come in the form of interest. This is a fee that you pay on top of the money you owe back. 

The problem here is that if the interest rate you pay is set high or is not fixed, you can end up paying a large sum back, while still not paying off too much of the actual money that you owe. Something that can make it very difficult to get out of debt. 

Credit is Good - Choose To Use It Well

However, it is important to note that the issue with credit isn't strictly cut and dried. In fact, you have to remember that it the credit providers and cards are something that we choose to use. That means if we make a good choice it can be a helpful thing. 

Some people argue that this choice reduces when you don't have a good crediting rating and this forces you to pick credit offer with high repayments rates. However, as you can see from this post, it is just about doing your proper homework and finding the best offers out there to suit your needs. Then you can be in control of your credit borrowing instead of it being the other way around. 

Credit is Bad - Perpetuates The System

Some folks believe that the whole idea of credit is wrong, and it plays into our materialistic society. They suggest that it is something that keeps us in the trap of wanting things that we don't really need or can't afford just because we are exposed to them via adverts all of the time. To them it keeps us trapped in a system that works purely on consumerism and not need.

Credit is Good - Provides For Emergencies 

One factor that the critics of credit often forget is that for many people it is their only recourse when in the midst of an emergency. That means they don't put their grocery shopping on their credit card, and a trip to the mall certainly isn't something that they would use it for either. 

Instead, having access to credit means if they encounter a medical problem, or their vehicle is involved in an accident they can cover this cost. It also means they can pay and it won’t eat into the rest of their budget that is earmarked for other things. 

Yes, sometime it means paying off over a longer period. However, it also means you can set a payment that is affordable and won't interfere with your families everyday life style will still allowing the debt to be paid off. 

Credit is Bad - Lenders don't always check 

Last of all, some people perceive credit as bad because some lender are unscrupulous on who they are lending to. This means they grant credit without doing the proper checks and at a rate that most people struggle to pay off. Something that can cause serious problem for the browser while just making added money for the lender. 

Luckily, the financial industry has clamped down on these sort of lenders recently and the system is much more closely regulated. Something that makes it a lot harder for borrowers to get into unreasonable debt solely by using credit.  

In Conclusion 

Unfortunately, most us cannot change the system or even go against it in our everyday lives. That is why, in conclusion, it is much more productive to see credit as useful service that can help out in emergency situations such as when medical fee need to be arranged, and when we need to make larger purchases. Credit, in fact, could be said to be a good thing for the most part, as long as we handle it correctly.

Financial Habits That Everyone Should Adopt In 2018

Financial responsibility should be a priority at all times. Still, January 1 signals the start of a new chapter and is the perfect time to embrace improved habits for greater long-term stability.

It doesn’t take too long to adopt new habits. In fact, getting a head start now could put you well on the way to achieving greatness by the time 2018 arrives. Let’s take a closer look at some of those most rewarding ideas.

#1. Make Money Work Harder

It’s a sad reality, but most people don’t earn nearly as much money as they’d like to. Therefore, supplementing your career earnings with external revenue is key. The realm of investments can be a volatile one, but also has the potential to be very rewarding. Overhaul your strategies in 2018 to see your personal wealth grow at a quicker rate than any bank account. In turn, both the immediate and long-term financial situations will look better than ever.

#2. Make Money Last Longer

As well as growing your capital, you should look to get more bang for your buck. After working so hard to earn cash, allowing it to leave your pocket any quicker than it should would be nothing short of disastrous. Services like couponmom.com enable you to reduce weekly shopping bills. Similarly, comparing everything from car insurance to cell phone provider helps too. Reduce overheads without sacrificing your enjoyment, and you’ll notice the difference in no time.

#3. Stop Wasting Things

There’s nothing quite as frustrating as losing money. Unfortunately, most people are far more brazen with their assets. Simple ideas like upcycling clothes or selling unwanted goods will boost your financial health. Likewise, buying used items, ranging from cars to fancy dress outfits, can promote a better bank balance. One way or another, giving them the same level of attention as cold hard cash is essential.

#4. Borrow Money In A Responsible Manner

It’s very common to take on debt in this life. This could come from buying a home or car on finance. Alternatively, you may have fallen behind on payments due to unforeseen circumstances. There’s nothing wrong with borrowing money, but you must do so in the most efficient manner. Even with short-term lending, visiting best.creditcard can have a telling impact on interest rates and payments. If taking extra care here promotes greater financial stability, it has to be worthwhile.

#5. Monitor Things

Organizational skills and financial control bring many benefits. Managing payments ensures that you escape needless charges while allowing you to maintain a budget. Better still, you can easily pinpoint areas where you require cutbacks. If nothing else, it removes the element of surprise which often causes major problems for personal finances. Besides, being prepared for the worst also means any work bonuses or extra funds become far more rewarding.

Embrace those habits over the coming weeks, and 2018 should present a healthy boost to your financial situation. Regardless of your background, this is something that will surely make next year feel better than ever.

Making The Best Of A Bad Situation

When it comes to money, it’s either going to be a good or a bad situation. Everyone will have gone through both sides of the situation at some point in their life. But what do we do when things go bad? We either have an absolute mental breakdown, or try and get through it as best as we can. This happens all the time, but none more so than with money. If you feel as though you’re someone going through a bad stage at the minute, just relax and take a read of these tips, they should help you get through any bad stage with money.

Ask For Help

This is usually people's last resort. They’ll try every type of loan, credit card, online advice, and before you know it they’re worse off than they were in the beginning. Don’t let this be you. Unless you’re in a good place with money, you shouldn’t really be using a credit card or loan. Credit cards are only useful for building up your credit score. The best thing you can do is ask family or friends for some short term help if you need to lend some money. They’ll have no interest rate, and you can come to an agreement of when to pay the money back so things are a little more relaxed. Whatever you do though, don’t borrow more than you can pay back just because it’s family. Be respectful and always pay what you owe back on time.

Prepare

Preparation is key if you want to get through a bad situation. As you get a little older things start to crop up that create bad situations. Health issues, pension cuts, whatever it may be it’ll cause you stress that you don’t need. As we become senior we’ll obviously understand that we won’t be round for much longer, the best thing you can do to protect you or your family is life insurance. It’s preparation like this that helps keep everyone from getting into a bad situation. This post discusses the different types of life insurance you can purchase. But whilst we’re talking about preparation, we also need to talk about other life events. Birthday’s, Christmas etc. they all require a lot of money, especially if you have children. This is where the dreaded credit card can get you into trouble unless you’ve prepared. Work out how much you’d like to spend on each event and make it strict. Then divide the money but between the amount of months until said event, and begin to save. It’ll help you out so much in the long run.

Don’t Stress

Money is one of the leading causes of stress and anxiety for people all over the world, but this only makes things worse. There are so many people out there that can help you get out of the situation you’re in, so don’t bottle it up and stress yourself more, talk to financial advisors, or even friends and family and get the situation resolved.

6 Traveling Hacks That Still Save You Money

Traveling can be fun, enlightening, and at times, expensive. Traveling can really hurt your pockets, especially when made without proper planning.

Your limited budget should never be a reason not to enjoy your vacation.

Today we prepared six easy hacks when traveling (while still actually saving money!) that you can incorporate in your next budget travel.

1. It Pays To Plan Ahead

Set a travel budget before you leave, and swear that you follow it.

You can make an estimate of all costs associated with your travel, including those unexpected ones.

Book your hotel room months early. This way, you can set your travel budget more accurately. 

If you wish to save more money, get yourself familiar with the public transportation in the area and how much it costs.

Do not set aside a large chunk of money for souvenirs.

Your friends and family will appreciate funny stories better than unoriginal, mass-produced bracelets.

2. When Booking Flights or Hotels, Use Your Points Instead Of Your Money

Using your credit card miles and points is the best and cheapest way to book your flights and hotels.

If you have a Jet Blue credit card, you can choose to redeem your accumulated miles and points to saveyou hundreds of dollars.

Watch out for flights leaving on Tuesdays, Wednesdays, and Saturdays as these are the cheapest days to fly. 

3. Be Your Own Tour Guide

Most people tend to pay for guided tours as this is the easiest way to explore a city.

Guided tours do not usually come cheap, and they do not give you enough time to explore on your own as you should always stick with your group.

We have listed some free apps below that replace those expensive tour guides in case you enjoy wandering off alone:

- Detour – This is not your typical audio tour as the app can pinpoint your exact location and give you an overview of a destination, complete with interviews.

- Filed Trip by Google– This app by Google will run in the background and give you helpful information about several spots in the world through popup notifications. 

- Cities Talking – This app will prove to be really helpful for tourists because it provides its users some audio tours of major cities in Europe like London, Berlin, and Paris.

4. Live Like A Local

To live like a local is to save tons of money. 

Not only that, it is also meant for you to experience the real country.

There is absolutely nothing wrong with staying in five-star hotels, if you have the money for it.

But if you are strapped on cash, you may try Couchsurfing, or better yet, make friends with the locals who are friendly enough to offer you their sofa.

Forget about fancy restaurants and just eat at a simple shack where locals go to for lunch.

Order whatever delicacy is written on their menu, or get whatever food the place is exactly known for.

5. Get Yourself Walking

Traveling is walking. Period.

No matter who you are or where you are, you will always get to your destination cooler and cheaper if you simply walk.

Walking provides you with a lot of perks—seeing beautiful street arts, learning hidden streets and alleyways, and meeting interesting people along the way.

Walking is also a good exercise.

Did we mention walking is also free?

6. Keep Your School ID Handy (If you’re a student, of course)

You have no idea how your being a student means discounts and perks all around the world. 

Get yourself an ISIC, or International Student Identity Card.

In some countries, this card will get you lower rates in cinemas, public transport, restaurants, and even museums.

Other countries even offer discounts to students who are traveling abroad if they wish to visit Going back to our previous hack, it is important to always stick to your budget. 

Properly managing your travel budget will give you extra money for other things that you wish to buy or see during your trip.

Once you get the hang of traveling on a budget, you will soon realize that this way of traveling is the best way to go.

It allows you to open yourself up to new things and experiences, and you cannot put a price tag on them.

Do you wish to travel more? Then save more and spend your money more wisely.

Which of these travel hacks appeal to you the most?

Let us know what you think by leaving a comment in the box below.

Kristoffer Canimo is a Manila-based writer who strictly needs a coffee fix before accomplishing anything. When he's not writing stuff or finding ways to earn money online. He loves Raymond Carver.

Keep Your Finances Safe Online

Shopping online has become second nature to many of us. It’s so easy to purchase things at the click of a mouse these days – music, clothes, holidays…the possibilities are endless online. Some websites will require you to input your card details every time, whereas others will save your payment information for future use. Amazon in particular has a ‘one-click’ payment system, where you can save your details and buy things quickly and efficiently. As useful as this may be, it can be much harder to keep track of your spending this way. Ease of payment aside, it’s the security of your payment details that you should be considering when purchasing things online.

Check Your Password

Of course, it goes without saying to use secure passwords. Something that you may think is the most un-guessable word in the world could be obvious to those who know you well enough, so always try to add in numbers, capital letters and symbols to make it harder to guess. Never choose things which are easy to find out, like your mother’s maiden name, the name of your pet or your favourite band. These details can be found out by people who don’t even know you with very little investigation indeed.

Keep Up To Date

The more up to date the programs your computer uses are, the safer you’ll be online. This is because new technologies are harder for hackers to get around. The older the anti-virus software you have, and the older your browser version, the more likely it is that hackers have found their way around the security features. New technology is there to protect us and to ensure that we’re working safely and as efficiently as possible.

Stay Secure

To ensure you’re even more secure, you should always buy things online when you’ve got a secure internet connection. This means that, if you’re using Wi-Fi in a coffee shop or are on a connection where other people can connect, you may not be as safe as when you’re connected to a locked and password protected internet source. If you’re entering details into a shared computer, then always check that your entries are not saved, as the next person could, in theory, use your details to buy things from your account.

Shop Where You Have Trust

Never shop online on sites which you don’t feel comfortable. If there is no padlock symbol on your browser telling you that it’s secure, and if the web address doesn’t start with https:// on the payment page at least, then your details may not be used securely. Always double check that you’re on the website you want to be on too. Many scams involve creating sites which look exactly the same as mainstream, well-known shopping sites, and taking your money once you’ve entered your card details.

Use a Credit Card

If you shop online regularly, then it may be worth using a credit card, and paying off the balance from your current account. This would ensure that, should your details be stolen, you’d be protected under Section 75 and none of your linked accounts could be compromised.

Credit card myths busted

When it comes to credit cards, there are a lot of nasty myths and misconceptions passed around. These can often scare off first-time applicants for standard and balance transfer credit cards, but most are untrue and are not worth paying attention to.

To clear things up, let’s bust some credit card myths.

Myth #1: There is a credit blacklist

Some people believe that if you are refused for credit, you have debt or you have County Court Judgements (CCJs), then your name will be included on a credit blacklist and that no lender will go anywhere near you.

This myth is completely unfounded – there is no such thing as a universal credit blacklist. It is true that your credit history plays a part in whether you’ll be approved when you apply for a credit card, but not all lenders are looking for the same things. Besides, anything that has gone wrong in your credit history can be remedied and you can improve your credit rating with a few simple measures.

Myth #2: All lenders and credit agencies use the same credit scoring system

Similar to the myth about credit blacklisting, some people believe that all lenders and credit reference agencies (the companies that lenders use to carry out credit checks) use exactly the same credit scoring system. If this were true, you would not be able to get an application approved anywhere if you were turned away by one lender.

Luckily, this myth isn’t true. Credit reference agencies will use many of the same methods and tools to get information about you and your credit history, but in truth, each lender will have their own specific wish list for their ‘perfect customer’. This often relates to how much profit they can make from you rather than just the risk you represent.

So, if you are rejected by one lender, this doesn’t automatically mean that all others will turn you down.

Myth #3: Checking your credit record can damage your credit score

It is thought by some that by checking your credit record, through a credit reference agency (usually for a small fee) can damage your credit rating. No one really knows where this myth came from, as it is completely untrue. Checking your credit record has no effect on your score and it can actually be very useful as it allows you to identify areas you need to improve on to boost your rating, as well as giving you the chance to correct mistakes in the information held about you.

Knowing that you have a fully accurate credit record, and with the reassurance that your credit score is good, you can get on with finding the lowest interest rates and getting the best credit card balance transfer deals.

Pockit credit cards- A student's guide to credit cards

If used sensibly, a credit card can be a good way for students to manage their budgets.

What is available?
Currently Halifax, Lloyds TSB, Natwest and Royal Bank of Scotland offer student credit cards. Other providers have credit cards for people with a low income or no credit history that may also be available to students.
Student credit cards have higher interest rates so borrowing on a student credit card is ill advised. A student loan and student bank account are the best options to fund students through university.

Student credit card providers offer up to £500 credit which will not have interest applied if the balance is paid in full each month. Once in debt, a monthly minimum payment is still required and an unpaid balance will accrue interest and late payment charges. Further charges apply for exceeding the credit limit.

The advantages and disadvantages
Section 75 of the Consumer Credit Act provides protection for credit card purchases over £100. The protection, which is not provided by debit cards, means that the credit card provider will be able to assist and provide a refund where there are unresolved matters between the buyer and seller

Credit ratings tell lenders how financially attractive you are and whether you are a responsible borrower. Building a good credit rating through a credit card or mobile phone contract can improve your chances of obtaining future credit, perhaps for a car or mortgage after university. However, becoming in debt through a student credit card will have a negative impact on your credit rating and will affect future applications for credit.

Managing your credit card positively
Keeping track of your spending so as not to exceed your budget and paying the balance off in full each month are the best ways to avoid debt.

Furthermore, withdrawing cash using a credit card will incur a withdrawal fee so stick to your student bank account for this purpose.

By checking your credit card statement each month you will be able to spot any unexpected purchases early. These may indicate fraud and you should make your credit card provider aware as soon as possible.

Alternatives
Mature students or those with an additional income might be eligible for a regular credit card with better interest rates or additional benefits.

A pre-paid card, to which money can be transferred before using the card for spending in shops and online, is a good alternative to a student credit card. Since pre-paid cards work in a similar manner to mobile phone top up cards, getting into debt is unlikely with this option.

Ways to Consolidate Credit Card Debt

With the economy seeing so many people struggling to make ends meet, it is quite common that people are relying heavily on credit cards and loans to keep up with bills and the rising prices of utilities, groceries, etc.
While this may fix the problem, unfortunately it can also end up leading to someone owing quite a bit of money that can quickly become hard to handle.
Going back to school to earn a business degree may help find a position or even start your own business, but with jobs so few and far between and business folding each day, there is no guarantee that it will help. Business Schools can help connect you with accredited business programs.
Some may consider bankruptcy as a way to erase this debt. However, it can mess up your credit and make it difficult to get back in good financial standing.
A great way to help make your monthly payments manageable is to consider consolidating your credit card debt.

What is Consolidation?

When you consolidate your credit card debt you are taking the balance from each card, putting it together, and creating one monthly payment that people usually find much easier to handle.
There are several ways to consolidate your credit card debt. The option you choose depends on your personal preference.

Personal Debt Consolidation Loans

One of the most utilized options is that of the personal debt consolidation loan.
A popular loan choice is a home equity loan. When you take out a home equity loan you are borrowing money against what your house is worth. This basically means that you are using your house as collateral.
Speaking of using your home, if rates are lowering than they were when you purchased the home, you can utilize what is referred to as a cash-out refinance, meaning you can refinance your mortgage loan and receive a portion of the value to use towards your bill.
If you are uncomfortable using your home as collateral for your loan, you can speak to someone at your credit union or bank about getting a personal loan. If you plan to utilize a personal loan from your financial institution it is important that the interest rate offered is less than what you are currently paying on your debts or you can actually end up paying more that you already do.

More Options

Should you decide that a personal loan is not for you, you can consider:

• Borrowing money from your current bank accounts, stocks, or retirement funds.

• Borrow money from a friend or family member.

• Transfer your balance to a new credit card with a lower interest rate.

• Contact a company that specializes in debt consolidation to see what options are available for you.

You may even decide that earning your MBA in order to further yourself in the business world and earn more money to naturally pay off your debt is the best choice.

Source: My Two Dollars

Valerie Mack is a financial guru with experience in personal finance and savings. She has partnered with Article Writing Services to bring sites, like Business Schools, quality financial content. You can see more of her work at Online MBA.com.

Poor or No Credit? Here’s What You Should Know

A credit card gives you more purchasing options along with the flexibility of making payments that fit into your monthly budget. Aside from allowing you to buy items that may be out of your available cash price range, a credit card helps you pay unexpected bills and tackle other unforeseen expenses. You make at least the minimum payment each month and maintain a good credit rating, and you're all set. In a perfect world, this would apply to everybody. However, there are circumstances where you may have less-than-perfect credit or simply have little or no credit history. This does not automatically prohibit you from obtaining a credit card.

Is a Credit Card Right for You?

Before you start the process of applying for a credit card, it’s important to determine if a credit card is right for your needs. A credit card is best for smaller purchases that can be fully paid over several months. If you are looking to make a large purchase, a personal loan may be a better option for you. Consult with your bank about the various options for a personal loan including a secured loan. Before signing up for a credit card, confirm the terms of agreement. This includes the interest rate, your maximum credit limit and any related fees such as over-the-limit charges. Make sure you can afford the minimum payment. Bad credit tends to follow you around for many years and can make it difficult to obtain credit in the future.

Poor Credit History

Some lenders look at more than just your credit history when making a decision. If there are issues on our credit report that are not your fault, it’s important to mention this either on the application or when contacting the lender. A divorce, for example, may make your credit look bad even if you weren't responsible for the credit issues with your accounts during your marriage. If a lender is willing to look at merit, present proof that you have a steady source of income and are capable of paying the minimum payment each month. It usually takes about 2-3 weeks to receive a decision about your application for most cards. If you are not approved, you have the right to ask for the reasons why you were not approved and request a free copy of your credit report.

Little to No Credit History

Another reason you may be turned down for a credit card is lack of a credit history. If this is the case, there are a few ways to get around this issue. The easiest way is to have your name attached to another card holder's account. This allows you to demonstrate responsibility and build a credit history. You want to make sure the other person on the card has a good credit history, at least with that particular card. A joint account holder's bad credit with that particular card carries over to your credit report. Another option is to obtain a debit card through your bank. This allows you to build a credit history in a controlled setting. Keep in mind that with a debit card you are limited to the funds you actually have available in your account.

Note: Surprisingly, you may have difficulty getting approved for a credit card if you pay off your balance on other cards every month or only have a card that requires you to pay the balance off every month. Consider getting something like a gas card that carries a small balance over to the next month.

Your first step should be obtaining a copy of your credit report. Legally, a company that turns you down for credit must give you a reason. Credit reporting agencies are also required to respond to any disputes you may have with a billing issue within a specific amount of time. If they do not, any negative marks on your credit report must be removed. If there are issues with your credit report, contact these agencies first. You may want to review the Fair Credit Reporting Act or contact a credit repair company. Your second step is to compare your credit card options. Make sure you are aware of any fees and potential penalties. Credit can be a valuable asset, as long as you are aware of your options, rights and responsibilities as a card holder.

Andrew Bennett is a finance consultant who suggests obtaining a credit card to rebuild credit history once it has been damaged.

Avoid credit card fraud.......with the help of his experience, Have a look.

Now most of people are using credit cards but fraud cases related to this credit cards are increasing day by day. The reason behind this fraud is we are not at all aware about the safety steps which we suppose to follow.

In this video one of the credit card user has shared his experience of "credit card fraud". I think it may help all of you.

Thanks "You tube" for this informative video.

So like this if you have any experience related to this topic please feel free to share with me.