Articles by Bobby Tan on ArticleSnatch.com

Review of Three Major Credit Cards For Bad Credit

Tue, 01 Dec 2009 14:17:45 -0500

As you search for cards to rebuild your credit, it's important to find one that helps your increase your FICO score. Secured cards like the Applied Bank Card, Public Savings Bank, or the New Millennium Bank Platinum can be used to establish a positive payment history. These cards functions just like any normal card. They report your payments to the three major bureaus so you can rebuild your score. These cards can also be used for car rentals, travel, online purchases, and works great for students looking to establish their credit. Let's compare the unique features of each card: Applied Bank Card This card has a minimum deposit of $200 to open an account, but you can deposit a maximum of $5,000. Your initial card limit is equal to the amount you deposit but over time, you'll have the opportunity to increase your limit with special promotional programs. This card doesn't pay any interest on your deposit, but your deposit is FDIC insured. The annual fee for this card is $50. When your card is first set up, they'll bill the annual fee to your account so be aware that your initial credit line will be decreased by $50. **End Summary** Topics: applied bank card]]> new millenium credit card]]>]]> About the Author: ]]> You can find more information about the Applied Bank Card , Public Savings Visa, or the New Millenium credit card at Bad Credit Card Tips web blog.

A Comparison of Three Secured Credit Cards For Bad Credit

Tue, 01 Dec 2009 11:03:30 -0500

As you research the major cards for people with financial issues, you'll probably come across several that offer to help you rebuild your credit. These cards helps you rebuild your credit by reporting your positive payments to the three major bureaus TransUnion, Experian, and Equifax. They also give you the ability to rent a car or make online purchases. Let's compare three major credit cards for bad credit: New Millenium Credit Card-Secured Gold Your minimum deposit to open an account is $300. Maximum deposit is up to $5,000. As you make responsible payments, you'll have the ability to increase your limit by depositing more money. Your account limit is equal to the balance you deposit. This card features a fixed APR of 19.5% for purchases and cash advances. The Average Daily Balance method is used to calculate finance charges, including new purchases and cash advances. The minimum finance charge is $.50/month. This NMB card features an annual fee of $59. When you first apply, you'll have to cover a $99.95 processing fee for one card or $129.95 for both Visa and Mastercard. **End Summary** Topics: new millenium credit card]]> platinum zero]]>]]> About the Author: ]]> You can learn more about the New Millenium Credit Card or the Platinum Zero card at Bad Credit Card Tips web blog.

Public Savings Bank Secured Visa Credit Card

Tue, 17 Nov 2009 19:11:40 -0500

When your financial troubles are behind you, applying for a Public Savings Bank Secured Visa Credit Card is probably the last thing on your mind. While living on a cash basis may be an ideal strategy, it's difficult to achieve great financial independence without some form of credit. This card fixes your credit by reporting your payments to the three major bureaus. This card helps you build a positive payment history and raise your FICO score. There are no income, credit or employment verifications so the application process is very easy. Most applicants are approved within a few hours. Deposit Requirements To open an account, you can deposit as little as $300 to as much as $1,500. The lifetime deposit limit of this card is $10,000. For deposit balances between $5,000-10,000, your account limit is 90% of the deposit amount. Checks, money orders, wire, ACH are acceptable forms of deposits. ACH is not accepted for balances between $1,501 to $10,000. Minimal Requirements The only requirements you need to satisfy is a verifiable age, Social Security number, residence, and other identifying information. **End Summary** Topics: Public Savings Bank]]> Public Savings Bank Secured Visa Credit Card]]> secured cards]]>]]> About the Author: ]]> For a detailed review of the Public Savings Bank Secured Visa Credit Card go to Bad Credit Card Tips web blog. Get Bobby's free 33 Days To Near AAA Credit course at Badcreditcardtips.com .

How To Repair Credit - Do It Yourself With a Passport Loan

Tue, 10 Nov 2009 02:54:09 -0500

After your financial problems are all behind you, you're now faced with the challenge of rebuilding your file and raising your FICO score. While you'll come across many great strategies when learning how to repair credit, it's important you don't overlook adding a positive payment history to your record. When you do it yourself, one little known strategy you must check out is the use of a secured passbook loan. These type of loans do a fantastic job of showing potential lenders your responsibility with installment debt. In order to get a passbook loan, all you need to do is deposit money in a blocked CD or savings and request the bank give you a loan against it. To secure the loan, you'll be required to surrender your passport and ATM privileges. As you learn how to repair credit, you'll find not all banks offer these type of loans so you may have to do some research to locate a bank that does. If you can't find a local bank willing to offer a passport loan, a personal loan will do the same thing. You may be required to provide a co-signer or collateral to guarantee the loan. **End Summary** Topics: how to repair credit]]> do it yourself credit repair]]>]]> About the Author: ]]> Do you want to learn how to repair credit fast so banks will be begging to offer you a credit card? Get my free "33 Days To Near Perfect Credit" course. Click - http://tiny.cc/creditrepair and start fixing your report TODAY!

Credit Cards For Bad Credit - Can Too Many Hurt Your Score?

Fri, 06 Nov 2009 13:51:29 -0500

When you've suffered financial problems for a long period of time, it can be a breath of fresh air when you finally succeed in getting your first credit cards for bad credit. The freedom and privileges associated with having credit can easily suck you into the trap of applying for many more secured cards. After all, isn't having more credit better? Not necessarily. Too much borrowing power in the past may have contributed to your past financial problems. Also opening a lot of new cards too close together can hurt your score. It Damages Your Borrowing Ability Having too many open secured cards can also be a cause of concern for potential lenders. With the potential to get into debt beyond your means, a lender will most likely turn down your application. Showing too many inquiries on your report from creditors who've turned you down makes you look desperate, making future credit even harder. How Many Is Too Many? You're better off having two secured card, one for regular use, and one for a backup. If you make business purchases, you can have a third card just for this purpose. **End Summary** Topics: credit cards for bad credit]]> secured cards]]>]]> About the Author: ]]> Do you want to enjoy the freedom of credit again? Find Bobby's reviews of the hottest credit cards for bad credit at Bad Credit Card Tips web blog. Get Bobby's free 33 Days To Near AAA Credit course. Click - http://www.badcreditcardtips.com .

Credit Cards For Bad Credit - Over-Limit Secrets You Need to Know

Thu, 05 Nov 2009 14:55:06 -0500

In order to survive today's competitive climate among credit cards for bad credit, banks have resorted to increasing their schedule of fees. To curb the number of unfair practices towards people with financial problems, law makers are currently working on passing legislation for 2010 to protect the consumer. In spite of this protection, it's important for you to understand the terms of your card. Falling into the pit of constant over-limit fees can make you a slave to never ending debt. Outrageous Over-Limit Fees Do you know the limits on each of your cards? If you don't, now is a good time to find out. Whenever you incur charge over your limit, the bank assesses an over-limit fee. Recently, banks have raised over-limit fees to as high as $39. Some have even tiered their fees to increase when your balance exceeds $1,000. All It Takes Is Once With banks who offer credit cards for bad credit, you'll find it almost impossible to waive these penalty fees when you exceed your cards limit. Cards with a low limit can easily set you up for an over-limit trap since it doesn't take many charges to max out your account. **End Summary** Topics: credit cards for bad credit]]>]]> About the Author: ]]> Do you want to enjoy the freedom of credit again? Find Bobby's reviews of the hottest credit cards for bad credit at Bad Credit Card Tips web blog. Get Bobby's free 33 Days To Near AAA Credit course. Click - http://www.badcreditcardtips.com .

Credit Cards For Bad Credit - 3 Balance Transfer Secrets You Need To Know

Mon, 02 Nov 2009 19:27:30 -0500

It's not uncommon to see applications in the mail from credit cards for bad credit offering low interest if you'll transfer balances from another card. You might be tempted to take advantage of the fantastic offer, but before you do, it's important to research the fine print of the secured cards terms and conditions. As the competition among card issuers increases, many have raised their fees and modified their terms and conditions. Take the time to study the cards balance transfer terms and conditions. Many card companies structure their payments policies to yield the most profit. For example, let's say you're given a 0% APR on transferred balances and a 12% APR on new purchases. In order to maximize it's profits, the bank will apply your payments to the transferred balance first because it isn't receiving interest from the 0% APR. Meanwhile, it profits by receiving interest from your new purchases. Let's study three simple solutions to minimize your balance transfer fees: 1) Separate Your Purchases One strategy to cut your fees is to make all new purchases on another card. Reserve the new card only for transferring your balance for the 0% APR. **End Summary** Topics: credit cards for bad credit]]> secured card]]>]]> About the Author: ]]> Do you want to enjoy the freedom of credit again?

How To Repair Credit - 5 Essential Facts To Know Before You Do It Yourself

Tue, 27 Oct 2009 20:50:02 -0400

When the dust settles from all your financial problems, learning how to repair credit should be your next goal. Studying and understanding the different sections of your credit report is necessary if you want to know what strategies are required to do it yourself. When you order your report, it's also a good idea to order your FICO score so you have a reference point to see how your repair efforts are doing. Let's review the five main parts of your report: 1) Personal Information This part of your report shows your name, any aliases you've gone by, Social Security number, and employment record. Every time you submit a new application for credit, the bureaus update your file. This is one reason it's so important to be sure your applications are filled out correctly. 2) Accounts Being Reported Monthly You'll find this to be the largest part of your report. This section contains information such as name of creditors, account numbers, type of account, date opened, maximum limit, current balance, and the payment history of your account. Only creditors who supply monthly payment history get reported here. **End Summary** Topics: how to repair credit]]> do it yourself credit repair]]>]]> About the Author: ]]> Do you want to learn how to repair credit fast so banks will be begging to offer you a credit card? Get my free "33 Days To Near Perfect Credit" course. Click - http://tiny.cc/creditrepair and start fixing your report TODAY!

Credit Repair - Three Steps To Fast Credit After Bankruptcy

Sun, 25 Oct 2009 19:44:19 -0400

If you've had the unfortunate circumstances of having to file a bankruptcy, you're not alone. With consumer confidence at an all time low, and record number unemployment and foreclosures, more Americans are seeking federal protection for relief from their creditors. Current statistics report an average of 5,593 filings a day. Damaged FICO Score Filing chapter 7 or 13 can drops your score by as much as 100 to 150 points and remain on your history for up to 10 years. Initially you'll encounter difficulties qualifying for loans and renting an apartment. Most creditors and landlords prefer to wait two years after your bankruptcy before extending credit. You might think you'll never be able to qualify for a home loan or low interest charge card. But there's good news! Long before a chapter 7 or 13 drops off your record, you can build a great FICO score with three important credit repair techniques. Let's examine these three essential steps: 1) Clean Up Your File Get a copy of your file from the three major bureaus. If you find inaccuracies, file a dispute with the bureau to have it removed. **End Summary** Topics: credit repair]]> secured card]]>]]> About the Author: ]]> Bobby Tan is a debt management consultant helping people resolve their bad credit issues. Find Bobby's reviews of the hottest secured card for bad credit at Bad Credit Card Tips web blog. Get Bobby's Free 33 Days To Near Perfect Credit course. Click - http://www.badcreditcardtips.com .

Bad Credit Cards - 5 Little Known Facts You Should Know About

Tue, 29 Sep 2009 13:32:18 -0400

If you're suffering from bad credit, you probably won't have as many credit card choices as someone with good credit. But that doesn't mean you shouldn't be prudent and examine your options carefully before selecting a card designed for bad credit. Not all bad credit cards are the same! The terms and interest charges can vary greatly so be sure you do your homework before applying. It can literally save you hundreds of dollars each year. Among the credit cards available for people with poor credit, a secured credit card is one of the best options. In order to qualify for a secured credit card, all you need to do is deposit money in a blocked bank account to guarantee the line of credit. Your credit limit is equal to the amount you deposit. As you comparison shop for a card, keep in mind that if you make it a habit to pay off your balance in full each month, you'll benefit more from selecting one with no annual fee and a longer grace period. If you tend to carry a monthly balance, you're better selecting a card with the lowest annual percentage rate. **End Summary** Topics: bad credit card]]> bad credit cards]]> secured credit card]]>]]> About the Author: ]]> Bobby Tan is a debt management consultant helping people resolve their bad credit issues. Find Bobby's reviews of the hottest bad credit cards for bad credit at Bad Credit Card Tips web blog. Get Bobby's free 33 Days To Near AAA Credit course. Click - http://www.badcreditcardtips.com .

Bad Credit Cards - 5 Major Rip Offs You Need to Avoid

Tue, 29 Sep 2009 10:23:19 -0400

In this article, I will expose five mistakes people make with bad credit cards. Unfortunately many consumers with poor credit unknowingly hurt their credit score and waste excessive money on unnecessary fees. Bad credit is a lucrative industry and corporations know consumers are motivated by two major instincts. Fear of not being able to get credit and greed to obtain something for nothing. Unfortunately consumers with problem credit have fewer choices when it comes to credit cards. Credit card companies assess higher fees and penalties for people with damaged credit so it's important to make your decisions carefully. If you have poor credit and you're in the market for a prepaid card or secured credit card, knowing about the following list of mistakes will help you avoid paying unnecessary fees or ruing your FICO score. 1) Nonbank Catalogue Cards If you receive a pre-approved "gold" or "platinum" card with a high limit and no credit check required, beware! These cards typically require you to purchase items only from the stores catalogue and scam you into paying merchandise that is overpriced by as much as 50% or more. Also these companies seldom report to the credit agencies. **End Summary** Topics: bad credit card]]> bad credit cards]]> bad credit credit card]]> bad credit cards]]>]]> About the Author: ]]> Bobby Tan is a debt management consultant helping people resolve their bad credit issues. Find Bobby's reviews of the hottest bad credit cards for bad credit at Bad Credit Card Tips web blog. Get Bobby's free 33 Days To Near AAA Credit course. Click - http://www.badcreditcardtips.com .

10 SureFire Ways To Get a Credit Card When You Have Bad Credit

Fri, 25 Sep 2009 17:31:37 -0400

In today's economic climate, it's become nearly impossible to find a credit card issuer willing to cater to people with bad credit. Among the few financial institutions that do offer bad credit cards, many have tightened their qualification guidelines for approval. Although it's easy to qualify for department store or gasoline credit cards when you have bad credit, a secured credit card is still one of the best ways to rebuild your credit. In order to qualify for a secured credit card, all you need to do is deposit money in a blocked bank account to guarantee the line of credit. To literally guarantee your odds of obtaining a secured or bad credit card, you have to take proactive steps prior to submitting your application. Study each credit card application carefully. When you've finally narrowed your decision down to one or two particular bad credit card applications, it's time to take 10 important steps to ensure your application will be approved. 1) Repair Your Credit File If you have a bad credit file, obtain copies of your credit report from all three credit reporting agencies and work on removing incorrect derogatory information before you apply for a card. **End Summary** Topics: bad credit card]]> bad credit cards]]>]]> About the Author: ]]> Bobby Tan is a debt management consultant helping people resolve their bad credit issues. Find Bobby's reviews of the hottest bad credit cards for bad credit at Bad Credit Card Tips web blog. Get Bobby's free 33 Days To Near AAA Credit course. Click - http://www.badcreditcardtips.com .

A Simple Solution To Save On Prepaid Card Fees

Thu, 17 Sep 2009 22:35:13 -0400

When you hand over your prepaid card to the cashier and he or she asks you, "credit or debit", how do you reply? If you think there's little difference between a credit or debit transaction, think again. You may be surprised to learn your decision could have an impact on your pocketbook. Prepaid credit cards offer their customers two ways to authorize a transaction-by signature (credit) or by PIN (personal identification number). PIN-Based Transactions When you select the PIN option, you must enter your personal identification number (PIN) to authorize the transaction. PIN-based debit charges are believed to offer you greater safety and security, however there have been reported incidents where consumers have lost money from PIN theft. PIN-based debit transactions are typically made in person. Signature-based Transactions A signature transaction occurs when you use the prepaid card like a credit card and sign for the transaction. Advantages of signature-based transactions include the ability to make remote purchases via the telephone, mail, and the Internet. Twice as many consumers use the signature option when conducting their transactions. Banks Profit From Your Transactions Banks profit more when you sign for your purchases. **End Summary** Topics: prepaid card]]> prepaid credit card]]> prepaid cards]]> prepaid credit cards]]>]]> About the Author: ]]> Bobby Tan is a debt management consultant helping people resolve their bad credit issues. Find Bobby's reviews of the hottest prepaid cards for bad credit at Bad Credit Card Tips web blog. Get Bobby's free 33 Days To Near AAA Credit course. Click - http://www.badcreditcardtips.com .