From the Editor: I am very pleased to share with you this guest post from Mr Credit Card of www.askmrcreditcard.com. Mr. Credit Card has a great, informative and extremely comprehensive website that covers a broad range of credit card topics-be sure to check it out. Today, Mr Credit Card is going to give a few facts that many folks do not know about business credit cards.
From my experience, people get more confused about business credit cards than any other type of credit cards. So today, I would like to clarify some myths about them in this post. Let’s begin.
Only businesses can get business credit cards – This is simply not true. Yes, th
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Maybe you have noticed that once in a while, especially if you have been very good about making your credit card payment on time, you get a letter or note on your monthly credit balance statement that says you get a payment vacation. Some credit card companies offer these chances to skip a minimum payment, in other words, but before you accept the offer think about it for a minute because if you do not make the minimum payment you are still charged interest.
Making the minimum credit card payment just means you are keeping up with a portion of your interest payments, but by doing that you do not do anything to pay off the main balance of your debt. Read more…
I am asked almost every day, “What things affect my Credit Score the Worst?” It does not matter what your score is before the event. It only matters what your score is for the outcome. The higher your credit score the more that these events will affect the number and the lower the score the less it will affect your score.
The worst offender is a Bankruptcy. Bankruptcies will lower your score from the worst offender is a Bankruptcy. Bankruptcies will lower your score from 130 to 240 points right from the start. Depending how you monitor your report will depend on how much more damage other things report from the bankruptcy. The Bankruptcy alone will do 130 to 240 points but other items could do even worse so watch what is being reported.
Next on the list is a Foreclosure. Read more…
The first time getting a new credit card has become a really important rite of passage in the modern world of consumerism, because without a valid credit card it is much harder to transact business, shop, and enjoy the convenience of carrying plastic. But if you apply for a card and get a credit card no or a rejection of your application, don’t panic. Just because one card company turned you down it does not mean that other credit card companies will say no to you.
What companies look for on your credit card application is a track record of good borrowing and timely repayment of your debts. So first of all, lots of people who are applying for a credit card but have never had one before are faced with a challenge. S Read more…
Should I stop paying mortgage or should I keep making payments when my house value is way below of what I owe on the mortgage? Sure I can afford those pesky monthly payments but why should I? It is a question that has many homeowners breaking their heads and struggling with their consciences. If you are one of them, stop struggling and leave the morals and ethics well aside of your thought process. I am not advocating so you walk away from your mortgage obligations, after all you signed promissory note to repay principal and interest, but considering that the ongoing housing fiasco was created by our stupid government and greedy lenders with the help of their more than willing sidekicks including loan officers, realtors, appraisers, builders, etc., you should stop feeling guilty long before you stop paying mortgage.
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