Credit Repair For Free!

The credit card issuers send their accounts receivable data to the credit reporting agencies on a monthly basis.  This information contains your credit limit, amount you owe (balance), minimum payment, date of last payment and payment date.  If you used your credit card that month, there will be a balance due on your statement.  When you pay your bill, your account is credited for that amount.  The issue is that you will always show a balance on your credit report, if you use your credit card and pay your statement when you receive it.

To avoid showing a balance, you need to pay your bill before the closing date of the current month. Don’t charge on your card between the date you pay and the end of the cycle or you will still show a balance.  For example, the closing date on your account is September 30.  Let’s say today is September 26 and you have charged $600 since you last statement. You can p

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Tags: Balance, Credit Card, Credit Report

TransUnion, a national credit reporting agency, recently released findings that show an overwhelming number of people are paying their credit card bills on time and limiting how much they are charging.

It may come as a surprise that credit card delinquencies (defined as 90 days past due—or more—on a payment) are at the lowest level observed in the last 17 years.  Given the difficult economic times and high percent of unemployment in the U.S., you may expect quite the opposite—that more people than ever would be having problems making credit card payments on time.

TransUnion also found that the average credit card debt per borrower has remained relatively flat at approximately $4,700. They f

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Tags: Card, Credit Card

Its QA time again. This one comes from babe112083 who is asking

Anyone know of any really good secured credit card deals for people who have bad credit? Im looking for one preferably with minimum annual fees.Actually I just read what the difference between secured and unsecured is and I really want an unsecured credit card. Is there any that you would suggest?

Answer: I can understand why youd what an unsecured credit card. The title itself implies you dont have to put down any of your money. This of course is very misleading.Stay away from unsecured credit cards for bad credit. Its true; in most cases you dont have to put down a dime..but when you get your 1st billyoull most likely see a very large annual fee. Ive seen unsecured credit cards with an $150 annual fee. I just think a secured credit card is better. At least if you ever close it, youll get your deposit back. With the unsecured credit card for bad credit, your annual fee just goes to the bank. Read full article…

Tags: Bad Credit, Credit, Credit Card, Secured Credit Card

Here a good question I found in the comments section of a previous post. almcneilcan asks us the question:

Help! Im trying to start up a business and all I need is a $10k business credit card. But I have a bad credit rating and so far lenders insist I must have a strong co-signer. But I cant get anyone to do this for me (long story) Any suggestions?In answer to the first responder, its a self-employed business. Im the only employee. Its a long story but my personal financial mess is a combination of the high tech collapse (Im an engineer) that has gone on 6 years, 3.5 years unemployed for myself. Plus, I have a medical condition. I finally made a bold move to get around the medical condition so I can start my own business, now all that is stopping me is a co-signer. I agree, its not an enviable position but I have no other choice. Is there any way to get a credit card without a co-signer when you have a bad credit rating?

Answer: Actually, its a short story. Read full article…

Tags: Business Credit, Business Credit Card, Credit, Credit Card

Today, credit card is playing important part on every transaction. You can shop for merchandise and pay it with your card. Its that simple. It is not only for people that already have a job but also for high school and college students. Student credit card have the same features as a traditional one, but they do come with certain strict requirements that other cards do not have it. Most credit card companies will need a co-signer as collateral or a form of insurance before they release a card for the student. This is to be believed as a back up and a peace of mind for the issuer if something goes wrong with the payment.

The student credit card interest rate or APR is usually higher than regular one. This is to minimize the risk for the company. The limit is also ranging from $250 $800. This is very common because most students have not established any credit history. Even though the limit is very low but it still helps students build a credit.

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Tags: Credit, Credit Card