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Many of you might be asking this same question so Im posting with the answer here. Enjoy. The question is from questions

Rebuilding my credit and I have an old Master Card account that was charged off that I am attempting to satisfy. I want to obtain a secured card from a local credit union to start establishing some good credit. Do I have to satisfy the old account before doing this or will I be able to get the secured card.

Answer: In general , secured credit cards will be issued irrespective of your credit history. Do not worry just apply for securied credit card. With credit unions it will be much easy than banks.

Tags: Credit, Mc Charge

Heres a good question from mcalixto2390 with an even better answer, enjoy:

since when you log on to your citi card account, it gives you the option to request an additional card.So last night my dad requested one for me with my name on it, but from his account.I am just wondering since I will technically have a credit card in my name, but from his account, will my using the card count towards my credit? IE, my credit score, so when I apply for other credit cards, I get approved?My dad requested the card for me so I can get used to it, I guess. The card was just requested last night so I was wondering how long it will take to arrive. The website said if it doesnt arrive in 10 [business?] days, to contact customer service, but I want to know how long it usually takes to arrive.Yes, I know Monday is a holiday. =]Thanks for any replies.

Answer: It usually takes about a week for the plastic to show up.If you are an authorized user on his account, the reports will be in his name, not yours. Read full article…

Tags: Card, Card Account…

Before choosing a debt relief option, you must understand exactly how much debt you currently need to pay off. List all critical payments you need to do. If the monthly spending is more than your gain, you will need to plan your future. Non profit debt consolidation helps you put together all debts in one single payment that is generally easier to manage and control.

Remember that the process of debt consolidation is used to erase unsecured debts such as medical bills and credit cards and that debt relief is not available for other loans such as student loans, auto financing and mortgage. Do not believe that the consolidation of the debt is a debt relief to the debtor only. It also helps the lender, because no lender wants to see a bankruptcy filed by the debtor. It always provides you with a solution to get things done for you.

Do not go for the consolidation of the debt until there is no other way. Read full article…

Tags: non profit debt consolidation

Knowing why prepaid credit cards build credit is important to successful credit repair efforts to maximize your effort to improve credit score. If you have suffered through a bankruptcy or have extremely bad credit rebuilding takes time and effort, and prepaid credit cards are often the first step rebuilding your credit rating and rebuilding your finances. Let us discuss the reasons why these cards build credit.

Your credit rating as assessed by the credit bureaus is essentially an estimation of your financial health and responsibility. The exact formula for credit score is not known, but it takes into consideration your current personal finance situation along with your credit history with lenders. Falling behind on payments, seizures, foreclosures, as well as too many credit lines available negatively impact your credit rating. In your efforts to build credit after these financial mistakes one must address reestablish your responsible history and financial health.

Prepaid credit cards build credit by extending a credit line to otherwise high risk people.

Read full article…

Tags: Build Credit, Cards Build, Cards Build Credit, Credit

Merchant loans has proven to be a rescuer for many businesses, especially those who are in need of immediate financing, so as to deal with a sudden expense or to increase cash flow. Merchant loans are a kind of receivables financing, which are rooted in credit card future sales. The companies that offer these types of loans generally buy a fraction of the transactions made by credit cards from businesses, at a reduced rate. The businesses, in turn are then offered a lump sum of money on the spot. Whereas the loan providing companies subtracts a flat percentage of the companies credit card sales, on a daily basis, till the complete agreed upon sum is collected.

Companies that offer merchant loans generally team up with chief credit card companies, with the intention that the loan amount can be deducted automatically from the credit card sales receipts. Read full article…

Tags: merchant loans