For compulsive buyers, the overwhelming need to buy is an obsession that can ruin finances, marriages, careers and even lives.
An overwhelming majority of compulsive buyers, or shopping addicts, use their credit cards to feed their addictions, experts say that 60 percent to 75 percent of the compulsive shoppers have credit card debt as a result of their shopping addictions.
A credit card addict is somebody who uses their credit card, maybe for every purchase they make. I've seen people use their credit cards for a pack of gum at the drugstore. There are some people who absolutely don't want to pay anything in cash. The reason is simple, cash is real money. Credit card is plastic and for some people, it doesn't feel like real money.
These people are living in a fantasy world and if one is a compulsive credit card buyer, they do not need to have any credit cards. Sounds kind of harsh but it is the truth. Such person will need to seek help, it would be a great idea to take a credit card management class. The problem though is that compulsive spenders usually will need someone else to point the problem out to them.
Credit Check for Employment
We all want our credit history and credit score to be as good as possible. Usually so we can get the best possible rates when we make purchases. The better our scores, the better deal on that new car or that house we are going to buy but there is also another reason we should want our credit profile to be squeaky clean; employment.
Some employers believe a potential employee's credit standing is a vital piece of information.
If the job involves handling money in any capacity, employers want to know their workers are responsible with their own finances. Bosses have concerns that a worker who is in financial trouble could be tempted to tap the till, or embezzle, company funds.
Before a potential employer looks into your credit, you have to give written permission. Then, the employer can check your standing as long as they comply with the Fair Credit Reporting Act. The company would request a consumer report, such as a credit report, from a consumer reporting agency.
The act mandates that if you're turned down for a job because of your credit, the employer must give you a copy of your consumer report and a Federal Trade Commission information sheet that describes your rights. You can then dispute the report if it's not accurate.
But before you get there, you can take these steps to improve your credit, and also improve your chances of getting the job:
* Know what's in your credit report. Even if the truth is ugly, the first step to repairing credit is to know exactly what you're up against. Federal law requires the three major credit bureaus to give you access to your credit reports once a year.
* Start paying. If you have debts you've been ignoring, call your credit card companies and establish a payment plan. Even if you can't afford much, lenders want to start getting back the money you've borrowed, so they'll probably make a deal. Don't agree to pay more per month than you can afford, or you'll be likely to start the missed payment cycle all over again. Also see if you can negotiate for a better term, such a frozen or lower interest rate.
* Get a secured card. Secured credit cards are a terrific way to rebuild your credit. You deposit a certain amount with the lender, and the lender will give you a card with a spending limit equal to your deposit. Use this card wisely and make regular payments to show you're now being responsible with your money.
* Be straight during your interview. It's possible the potential employer won't ask to check your credit report, so stay mum on the topic unless they bring it up. If they do ask for access to your information, tell them what they can expect to see in your report. If you're upfront about your negative history and show that you're taking steps to improve it, most employers will appreciate your honesty. It will give you the opportunity to state your case rather than let your credit mistakes speak for you.
Of course, you could always say "no" when the employer asks to see your credit report, but that's probably not a good move. Employers will wonder what you're hiding, and they may imagine your situation to be far worse than it actually is.
Some employers believe a potential employee's credit standing is a vital piece of information.
If the job involves handling money in any capacity, employers want to know their workers are responsible with their own finances. Bosses have concerns that a worker who is in financial trouble could be tempted to tap the till, or embezzle, company funds.
Before a potential employer looks into your credit, you have to give written permission. Then, the employer can check your standing as long as they comply with the Fair Credit Reporting Act. The company would request a consumer report, such as a credit report, from a consumer reporting agency.
The act mandates that if you're turned down for a job because of your credit, the employer must give you a copy of your consumer report and a Federal Trade Commission information sheet that describes your rights. You can then dispute the report if it's not accurate.
But before you get there, you can take these steps to improve your credit, and also improve your chances of getting the job:
* Know what's in your credit report. Even if the truth is ugly, the first step to repairing credit is to know exactly what you're up against. Federal law requires the three major credit bureaus to give you access to your credit reports once a year.
* Start paying. If you have debts you've been ignoring, call your credit card companies and establish a payment plan. Even if you can't afford much, lenders want to start getting back the money you've borrowed, so they'll probably make a deal. Don't agree to pay more per month than you can afford, or you'll be likely to start the missed payment cycle all over again. Also see if you can negotiate for a better term, such a frozen or lower interest rate.
* Get a secured card. Secured credit cards are a terrific way to rebuild your credit. You deposit a certain amount with the lender, and the lender will give you a card with a spending limit equal to your deposit. Use this card wisely and make regular payments to show you're now being responsible with your money.
* Be straight during your interview. It's possible the potential employer won't ask to check your credit report, so stay mum on the topic unless they bring it up. If they do ask for access to your information, tell them what they can expect to see in your report. If you're upfront about your negative history and show that you're taking steps to improve it, most employers will appreciate your honesty. It will give you the opportunity to state your case rather than let your credit mistakes speak for you.
Of course, you could always say "no" when the employer asks to see your credit report, but that's probably not a good move. Employers will wonder what you're hiding, and they may imagine your situation to be far worse than it actually is.
Do you need credit card insurance?
Nearly all credit cards offer some sort of credit card insurance. Usually when talking to a represenative on the telephone he will read you the script he has in front of him and try to sell it to you. If you accept it, you just gave him a good sale. If you tell him that you'll pass, then he will try to convince you some more. Decline his offer again and he will try again. Eventually they will give up. The insurance will usually cost you pennies for every $100 on your balance.
Though programs and coverage will vary, there are four basic types of credit insurance:
* Credit life insurance pays off the credit card balance owed at the time of the cardholder's death.
* Credit disability insurance will make the minimum payment due for a specified period after a medical disability. Purchases made after the disability are generally excluded.
* Credit involuntary unemployment insurance will cover the minimum payment if a cardholder is laid off for a specific period of time. Charges incurred after the layoff are excluded, and if you're fired, you're not covered.
* Credit property insurance pays for credit card purchases if the items are damaged or, in some cases, stolen.
Unlike other kinds of insurance, credit insurance doesn't require a signature to purchase a policy. In many cases, all you have to do is verbally agree over the phone. With one popular offer, the first 30 days are free, and you'll only be billed after that period. What they don't mention is that it's often difficult to cancel, and it's not unheard of for an unscrupulous representative to sign you up without your consent.
Financial experts agree that most people don't need credit card insurance for several reasons.
Though programs and coverage will vary, there are four basic types of credit insurance:
* Credit life insurance pays off the credit card balance owed at the time of the cardholder's death.
* Credit disability insurance will make the minimum payment due for a specified period after a medical disability. Purchases made after the disability are generally excluded.
* Credit involuntary unemployment insurance will cover the minimum payment if a cardholder is laid off for a specific period of time. Charges incurred after the layoff are excluded, and if you're fired, you're not covered.
* Credit property insurance pays for credit card purchases if the items are damaged or, in some cases, stolen.
Unlike other kinds of insurance, credit insurance doesn't require a signature to purchase a policy. In many cases, all you have to do is verbally agree over the phone. With one popular offer, the first 30 days are free, and you'll only be billed after that period. What they don't mention is that it's often difficult to cancel, and it's not unheard of for an unscrupulous representative to sign you up without your consent.
Financial experts agree that most people don't need credit card insurance for several reasons.
First, there's a very good chance you're already covered by another insurance policy. If your employer offers a standard $50,000 life insurance or short-term disability policy, you're covered. In addition, homeowners' insurance typically will pay for damaged property.
Also, other insurance policies are generally cheaper. "For example, term life insurance costs less and provides better coverage than a credit card policy and if you have three credit cards, you'll need three separate credit card insurance policies to be sure you're totally covered. There's another problem, collecting on a claim can be difficult, and the burden of proof is on the policyholder.
I know I may sound like I'm totally against this insurance but for a few out there it may be best to get it. The people who need it the most are those folks who simply cannot get insurance elsewhere. The chief virtue of credit insurance is that it's easy to get. If you have a pre-existing condition that prevents you from getting life or disability insurance, then credit insurance might be worth considering but experts agree that it's a better idea to self-insure by making a small deposit each month into a savings account to draw on for the minimum payment. After all, it's better than opting for a plan that may not deliver if you find yourself facing financial challenges in case of disability or unemployment.
Credit Card Mail Offers Down Due to 2008 Economic Crisis
As people are cutting back on their spending, a study shows that credit card companies are making it easier for consumers to not spend as the number of credit card mail offers dropped to its lowest point in three years. In 2006 and 2007 an average of 2.07 billion credit card offers were mailed quarterly. But last quarter, only 1.34 billion were mailed, illustrating a 28 percent drop from a year earlier.
The massive scale back is due to the economic crisis, but that offers declined long before the economy was on all our minds.
Credit card companies have been cutting back direct mail dollars for years, as they realize that blanketing Americans with credit card offers doesn't translate to increased sign up or card usage.Credit card companies are now facing a twofold problem that is much worse. Not only are consumers tapped out financially, but issuers are also facing record losses.
As the holiday season approaches, expect to see less credit card offers in your mail. Card issuers will focus on a narrower target audience, using refined marketing and more precise mailings to tap into people's true needs and desires.
The massive scale back is due to the economic crisis, but that offers declined long before the economy was on all our minds.
Credit card companies have been cutting back direct mail dollars for years, as they realize that blanketing Americans with credit card offers doesn't translate to increased sign up or card usage.Credit card companies are now facing a twofold problem that is much worse. Not only are consumers tapped out financially, but issuers are also facing record losses.
As the holiday season approaches, expect to see less credit card offers in your mail. Card issuers will focus on a narrower target audience, using refined marketing and more precise mailings to tap into people's true needs and desires.
Cash Back Credit Cards Pay You Back!
Want to receive cash every time you swipe your credit card? That's exactly what you'll get with a cash back credit card. This type of credit card is designed to give you rewards in the form of dollars. All you need to do is use the card. Sound like a good deal? It is. Here's what you need to know about cash back credit cards.
The Cash Back Process In basic terms, these cards give you a certain percentage of cash back when you make a purchase. So what does that mean for you? It means that when you use the card, a certain amount of the total will be credited to your account. Say you buy an item for $500 and your card offers 5% cash back. You can expect to have $25 come your way, just for using the card.
As you search online, you'll find card issuers are now offering many different types of cash back cards. Some simply offer a full 1% cash back on all purchases made. Others give higher rewards, like 3% cash back, for purchases of certain goods. Still others come with a chance to earn up to 5% back when you use the card. Many include initial offers that give you even more cash back for the first few months.
Before you apply, make sure you understand what you are signing up for. Some cash back credit cards operate on what's called a tiered, or layered, system. This system will give you higher rewards as you spend more with the card. A common setup is to offer less than 1% cash back
until you have spent $1500. Then from $1500 to $3000, you might receive a higher percentage. Anything above that will bring you an even greater percent of cash back.
Before applying for a cash back credit card, you'll want to make sure you choose the right card. When you find a card that interests you, check its interest rate. Many types of rewards cards, including cash back offers, often come with a high interest rate. If you plan to pay off the balance each month, this won't be a problem. If you do regularly carry a balance, you might want to consider a different option, such as a low interest credit card.
Another thing to consider before you apply online is the annual fee. Many credit cards charge an annual fee in order to access the rewards program. Unless the card comes with enough benefits to make up for the annual fee, try to find one without a yearly charge.
Certain credit cards will send you cash rebates in the mail. Others will credit the money to your account. With some card companies, you can request your cash reward whenever you want. However your cash back program works, the bottom line is that you will be rewarded for using the card.
Most companies now offer cash back credit cards that give you good rewards without any hassle. Start looking today and apply online for a card. When you start using the card, set aside the cash you earn for a special cause. You may be able to plan your next trip based on the cash you earn from your card.
Centrro may have the rewards card that is right for you. They have many choices to choose from. See what they have for you by clicking on the link below.
Centrro - find the perfect credit card that suits your needs.
The Cash Back Process In basic terms, these cards give you a certain percentage of cash back when you make a purchase. So what does that mean for you? It means that when you use the card, a certain amount of the total will be credited to your account. Say you buy an item for $500 and your card offers 5% cash back. You can expect to have $25 come your way, just for using the card.
As you search online, you'll find card issuers are now offering many different types of cash back cards. Some simply offer a full 1% cash back on all purchases made. Others give higher rewards, like 3% cash back, for purchases of certain goods. Still others come with a chance to earn up to 5% back when you use the card. Many include initial offers that give you even more cash back for the first few months.
Before you apply, make sure you understand what you are signing up for. Some cash back credit cards operate on what's called a tiered, or layered, system. This system will give you higher rewards as you spend more with the card. A common setup is to offer less than 1% cash back
until you have spent $1500. Then from $1500 to $3000, you might receive a higher percentage. Anything above that will bring you an even greater percent of cash back.
Before applying for a cash back credit card, you'll want to make sure you choose the right card. When you find a card that interests you, check its interest rate. Many types of rewards cards, including cash back offers, often come with a high interest rate. If you plan to pay off the balance each month, this won't be a problem. If you do regularly carry a balance, you might want to consider a different option, such as a low interest credit card.
Another thing to consider before you apply online is the annual fee. Many credit cards charge an annual fee in order to access the rewards program. Unless the card comes with enough benefits to make up for the annual fee, try to find one without a yearly charge.
Certain credit cards will send you cash rebates in the mail. Others will credit the money to your account. With some card companies, you can request your cash reward whenever you want. However your cash back program works, the bottom line is that you will be rewarded for using the card.
Most companies now offer cash back credit cards that give you good rewards without any hassle. Start looking today and apply online for a card. When you start using the card, set aside the cash you earn for a special cause. You may be able to plan your next trip based on the cash you earn from your card.
Centrro may have the rewards card that is right for you. They have many choices to choose from. See what they have for you by clicking on the link below.
Centrro - find the perfect credit card that suits your needs.
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