3 Easy Steps to Beat Credit Card Debt

3 Easy Steps to Beat Credit Card Debt

 

 

WOW, whatever happened to our economy? It seems like abruptly things went right down the tubes. Suddenly we are all swimming or drowning, in debt. Now what? How do we fix our financial mess? How do we beat credit card debt once and for all? Easy, I’ll show you…

 

 

Unlike our parents’ generation when using credit was considered embarrassing and a sign of poverty, our society today encourages debt. No one thinks it’s wrong to use credit to live way beyond our means. It’s even become something of a status symbol to have a lot of credit cards.

 

Unfortunately, that financial philosophy is proving to not be such a great idea after all. So many of us were living at the very brink of our financial limits and one tiny little push was all it took to send us teetering over the cliff.

 

We can’t go back and change the decisions we made yesterday but we can change what we do today so that we can be more secure tomorrow. There are several things you can start doing today that can help you find a much more stable financial footing and can keep you on balance for the rest of your life, no matter what the economy decides it’s going to do.

 

Wrench and dollar on white background.3D illustration.

 

To tame your credit card debt, use these simple tips:

 

1) Consolidate your debt. This means that instead of paying $50 a month on 10 credit cards ($500 per month) you combine all your debt into one loan and pay one smaller fee ($300 per month, for example) Most consolidation loans accrue interest differently than a credit card so you will be paying more in principle with every payment.

 

If you are only paying the minimum fee on your credit card bill you are paying only interest. You are not even touching the principle. You will have a very hard time ever paying your card down that way. There are many debt consolidation services available today. Start by asking your local bank who they recommend.

 

2) Do it yourself. Even if you can’t increase your income you can still pay off your debt yourself. It will take time and discipline, but it has worked for thousands of people.

 

This method simply requires you to pay the minimum payments on all your credit cards every month, focusing on the smallest debt and adding any extra money to that card every month. Remember that adding even a few extra dollars a month to your minimum payment will go directly to the principle.

 

After a while, you will have the smallest debt paid off. When you reach that point you will take the money you were using to pay on that card and apply it to the next smallest debt. And so on, and so on, until all your credit card debt is paid off.

 

3) Reduce your dependence on credit cards by leaving them at home. Instead, Of carrying all your credit cards with you and possibly having them stolen or lost use cash or debit card for your purchases. Leaving your credit cards at home will allow you time to consider if you really need to make this purchase or is it just a want, slowing down your buying process.

 

Getting yourself out of debt and rebuilding your credit isn’t going to be easy. It’s always tough to change habits.  You can beat credit card debt once and for all you will have a much more secure financial future and it doesn’t matter what the economy does, you’ll be set!

 

We hope this information was beneficial.  You can have anything you want if you are enthusiastic about putting in the time, effort and plans to get to your goals.  Discover the secrets why the rich stay rich and the poor stay poor. Click Here to view a video with more life tips!

In closing, we invite you to share your comments on this and our other posts. If you find the information useful, please Like & Share us and subscribe to this channel for an update as we reveal new strategies. Remember to keep an open mind and Shift 4 Freedom.

When Bad Credit Threatens You Fight Back with These Simple Repair Tips

When Bad Credit Threatens You Fight Back with These Simple Repair Tips

 

 

It’s hard to know what makes a good credit score. There are so many factors at play and many of them are out of your control. This article will tell you about the things you can control and how to best use those to your advantage in repairing your credit.

 

To reestablish your credit rating, you can set up an account with an online catalog/mail order company. Many of these companies will extend you a small credit line that you can use to purchase minor household items, articles of clothing, personal care items and such. By making a few small purchases and keeping your account in order, you can rebuild your credit.

 

Sad old marriage

 

To figure out how to best start improving your credit, order copies of all three major credit reports. Read through them carefully to see what’s reducing your credit score and if any information on the report is incorrect. It’s important to obtain all three reports because most creditors won’t report to every credit bureau.

 

Throw away all your credits cards and keep only one. When you have multiple cards, it is much harder to stay on top of all the monthly payments. It is unnecessary to have more than one card, and canceling cards is easy. All you must do is call or write a letter to the issuer of the card to cancel it, plan to an existing balance or transfer the balance to the one card you are keeping. This makes your finances easier to track and helps to reduce the amount you purchase on credit.

 

If you have had credit issues in the past, then it is time to learn your rights by becoming familiar with The Fair Credit Reporting Act. This information is available for free on the Federal Trade Commission’s website: http://www.ftc.gov knowing your rights as a borrower can help you to resolve previous credit issues and to avoid others in the future.

 

3d rendering of old iron arm shackles on a chain lying open on white background.

 

Act to better yourself, by bettering your credit report. One of the biggest mistake people make is not repairing the negative information on their credit report. It is true that most negative credit will fall off your report in seven years, but that is a long time to wait. Obtain your report and start acting to better your life and credit today.

 

Reestablish your credit by getting a secured credit card. This is a card that you find yourself by “depositing” a set amount of money that you can draw against. It differs from a debit card in that you are required to pay back a certain amount monthly. By doing this, you can reestablish your credit.

 

To reduce your debt as quickly as possible, come up with a plan for paying it off. Take the time to talk to creditors and see what kind of payment options they can offer you. You may find that you can pay significantly less if you’re willing to work with the creditors.

 

If you have trouble keeping track of your debts, then consider getting a consolidation loan. These types of loans are especially effective if you have more than one large, delinquent credit account. The companies that offer these loans may be able to help you negotiate a lower debt as well as a lower overall interest rate, and you will only have one payment to make every period.

 

Knowledge is power, especially when it comes to repairing your credit. This article should give you the power and the knowledge that you need in order to go about fixing your old mistakes and making good choices going forward. Follow the tips and suggestions you have just read, and you will have a score to be proud of.

 

We hope this information was beneficial.  You can have anything you want if you are enthusiastic about putting in the time, effort and plans to get to your goals.  Discover the secrets why the rich stay rich and the poor stay poor. Click Here to view a video with more life tips!

In closing, we invite you to share your comments on this and or other posts. If you find the information useful, please Like & Share us and subscribe to this site for an update as we reveal new strategies. Remember to keep an open mind and Shift 4 Freedom.

 

Shopping For Your New Credit Card

Shopping For Your New Credit Card

 

 

When you are ready to take a new credit card there are lots of factors you need to consider. Among these factors is credit card terms. You need to choose the plan terms that best fit and suit your financial needs. You need to consider plan terms like free period or grace period, annual percentage rate (APR), annual membership or participation fee, transaction fee among others.

 

African man outdoor holding gadget and payment card

 

It’s very important that you understand each of the credit card plan terms before you accept the card to avoid putting yourself in financial bondage. For example, if your issuing company did not give free period and you are unable to pay on time your account will be charged and it will end up adding to your debt.

There are several cases of card theft in recent days so it’s advisable that you keep your card very well to avoid unauthorized use. Also, don’t give away your card information where you aren’t feeling secure. Another way to avoid lost or unauthorized use of your card is to only carry the card you think you will use. And in case of loss of your card you need to call the issuer and inform them of the loss quickly. So, keeping separate records of each of your account number, expiration date, and issuer contact information is very important as well.

 

Businesswoman showing at cash, dollar and credit card.

 

It’s very important that you reconcile your account when you get a statement of account from your card issuer. In other to reconcile your account successfully you need to keep a record of receipts where possible and personal note where you don’t have a receipt. Most likely you will discover errors which could have been added to your statement without you noticing it.

Keeping the above tips in mind will help you while shopping for a new card and using it as well.

 

We hope this information was beneficial.  You can have anything you want if you are enthusiastic about putting in the time, effort and plans to get to your goals.  Discover the secrets why the rich stay rich and the poor stay poor. Click Here to view a video with more life tips!

In closing, we invite you to share your comments on this and or other posts. If you find the information useful, please Like & Share us and subscribe to this site for an update as we reveal new strategies. Remember to keep an open mind and Shift 4 Freedom.

Understanding Bad Credit And How To Improve It

Understanding Bad Credit And How To Improve It

 

It’s obvious that we now live in a credit world. There are lots of banking institutions offering different forms of credit from credit card to personal loans. The amount of people with credit cards is rising very fast. Apart from that, lots of people can hardly do without credit.

 

Financial problems concept. Depressed woman holding a credit card.

 

Because of lack of enough financial education and discipline on the part of most of these consumers they often find themselves in bad credit situations like court judgment, bankruptcy, and loan default which often make it difficult for them to get any credit at all in the future. You may now want to ask – what exactly is credit?

 

Credit means that you are getting a service or cash grant to use for your own purpose. You are often bound with a contract or agreement to repay in the future as agreed with a lender or service provider. Credit exists in different forms like a loan, mortgage, or credit card.

 

Before you can get credit from any financial institution or lending agency, they will first check your credit history. If you have defaulted on a loan before or have a bad credit history, you will find it almost difficult to get credit any time you apply for it.

 

Fix Your Credit Here

 

However, it’s possible for you to improve your credit history or build a new good credit history by repairing your credit, thus re-establishing your credit-worthiness. This process is called credit repair. It’s the process in which consumers with unfavorable credit histories attempt to re-establish their credit-worthiness.

 

Though there are lots of credit repair companies nowadays that promises to repair your credit for you if you can follow the simple guide, it’s very possible for you to do it yourself – after all, it’s your credit.

 

If you repair your credit it will make it easy for you to get low-interest credit, car or home loans. However, with poor credit rating, you may not be able to get loans or be subjected to high-interest rates and several other unnecessary conditions. So, it’s very important that you repair your credit if you have bad credit. You will get lots of tips on how to do this easily on this website “Check Here”.

 

You can have anything you want if you are willing to put in the time, effort and plans to get to your goals.  Discover the secrets why the rich stay rich and the poor stay poor. Click Here to view a video with more life tips!  In closing, We invite you to share your comments on this subject and the other posts. If you find the information useful, Like & Share us on Facebook, Google Plus and other social media platforms.  Remember to keep an open mind and Shift 4 Freedom.

Your Credit If it’s Broke Its Time to Fix It

Your Credit If it’s Broke Its Time to Fix It

 

Easy credit just might be the greatest seductress of the modern era. If you have fallen prey to its wiles, you are probably in need of some personal credit repair work. This is a common position to be in and not one to be ashamed of. By arming yourself with these credit repair tactics you can repair the damage and defend yourself better in the future.

 

Check your credit report from all three major credit reporting agencies once a year. This is a great opportunity to check your report for problems or bad information. If you notice a problem with your report, then you could fix it. This also gives you an idea of how a prospective lender would view you when pulling your credit report.

 

credit check 1

 

While working on a credit repair plan make sure you continue paying your regular bills such as cable, phone, and electricity. If you do not make payments on time, then that could end up on your credit report. Some utility companies will even take you to court to obtain their money. You do not want a judgment on your credit report!

 

Ask your credit card company to lower the limit on your credit card. Lenders can see how much credit you have available to you, even if it isn’t utilized. The more you have available the bigger the chance is that you could overextend yourself and have problems paying back your debts.

 

A great tip for improving your credit is to eliminate all credit cards except for one. When you have many different credit cards, it makes it difficult to keep up with all the monthly payments for them. All you must do to close a credit card is to write to the issuer and let them know you want to close your account.

 

A great way to improve your credit rating is to ensure that you always pay your monthly credit card payments on the day that they are due. If you cannot afford to pay off your balance every month you should ensure that you at least pay the minimum payment. Making your payments on time will ensure that your credit remains in good standing.

 

A great tip to improve your credit rating is to pay off your entire credit card balance each month. This will demonstrate that you are a responsible borrower, which will raise your credit rating. If you can’t pay off your entire balance, you should always aim to pay off as much as possible.

 

When trying to improve your credit, you should ask your credit card companies to decrease your credit card limits. This will not only prevent you from overspending beyond your means, but it will also demonstrate to your credit card companies and other lenders that you are a responsible borrower. This will likely lead to an increase in your credit rating.

 

A great tip for improving your credit rating is to use your credit card for your everyday purchases, such as food and gasoline. However, you must ensure that you do not spend too much so that you are able to pay off this balance every month. By doing this, you will show the credit card companies that you are a reliable borrower, which will, in turn, increase your credit rating.

 

Methods like these will help you repair your credit and learn to resist the temptations of easy money. Credit repair is not easy or fun, but it can be a learning experience. When you have conquered your personal credit crisis you can hold your head high and be confident of avoiding such pitfalls in the days ahead.

 

You can have anything you want if you are willing to put in the time, effort and plans to get to your goals.  Discover the secrets why the rich stay rich and the poor stay poor. Click Here to view a video with more life tips!  In closing, We invite you to share your comments on this subject and the other posts. If you find the information useful, Like & Share us on Facebook, Google Plus and other social media platforms.  Remember to keep an open mind and Shift 4 Freedom.