Welcome to Get-Credit-Cards

Welcome to GET-CREDIT-CARDS. Let's face it, in todays world your name is only as good as your credit. So maintaining your credit is one of the most important things in your life. Browse our site and get great credit tips that will help you build your credit score. Enjoy all of the information that you can obtain from this site.

If you have never had credit before and are finally ready to start building a credit history this site can help you.

If you have had credit in the past and basically "screwed it up" and need a new start this site can help you.

If you have good or excellent credit this site can help you. No matter what your situation is you can greatly benefit from this site.

What is the average credit card interest rate in 2014?

Those with terrible credit generally know that they will be paying high interest rates if they are approved for a credit card. People with excellent credit expect to get the very best interest rates, but what about those with fair credit? The majority of people fall into the fair category.

Recent reports show that the average interest rate for a person with fair credit is 21 percent. This is up by a whole two percent from just last year. Five years ago, if someone with decent credit was paying 21 percent on their credit card other people would think that they were crazy. It is not the worst rate though. Just ask some people with bad credit who sometimes pay 29.99 percent for the privilege of having a credit card.

Credit card companies are smart. What they usually do is offer zero percent introductory offers. This practice has been gong on for years and they know it works. Consumers love it when they can get a credit card for a year or so and pay no interest on their purchases. Some of them will not use the credit card once the free interest period ends, or they will move on to another credit card that offers zero percent interest. These are smart credit card users, but the majority of people are not smart credit card users.

Credit card companies know that most people will run up a high balance and most likely have that balance when the interest free period ends. Then they can start charging them a profitable interest rate with the average being 21 percent. They know that they will not make money off of a few smart consumers, but they will make millions off of everybody else.

Nobody can blame the credit card companies. They are a business and just like any other business they are out to make money. By being a smart consumer, an individual can avoid paying high interest rates. Getting these zero interest credit cards are great for people to get. When you charge things, just make sure to pay off the balance before the interest free period ends. For some people, this is easier said than done, but a person will need to discipline themselves to get the full advantage of these types of offers.

A good thing to also remember is to try and avoid the cash advance offers that credit cards offer. A cash advance will almost always have a much higher interest rate than regular credit card usage. By being a smart consumer, a person can enjoy all of the benefits that a credit card can offer and pay minimal interest rates. Of course, they will also be building their credit history at the same time.

Having bad credit can prevent you from getting a police officer law enforcement job

There are many young people who know without a doubt that they are going to become a cop when they get older. Maybe their father, mother, uncle, aunt or other family member is a police officer and they want to continue the tradition. Whatever the reason is, it is very important for a young person to realize that there are certain criteria that a person must possess in order to become a police officer.

Many police agencies are taking a good look at an applicants credit history to make sure that they are hiring responsible individuals. Some people will point out that a person's credit history has nothing to do with the job that they will be filling. They figure that if a person has the training, passes the phycology test and has the overall intelligence to be a good police officer then they should be given the opportunity. This is very rational thinking, but many police agencies do not even consider hiring applicants that have a poor credit history.

Whether a person agrees with this or not is not the subject here. The point of this article is to inform those who would like to become police officers that it is important to not ruin your credit. When a police agency notices that an applicant has poor credit, it is a sign to them that the applicant may have bad judgment and is irresponsible.

It is important to point out that a police agency will sometimes still hire an applicant with poor credit. They will want an explanation of it though. If an applicant lost their job due to a suffering economy, got hit with a major medical bill or went through a divorce that caused their credit to plummet, some agencies will still consider hiring them. With that said, they must really be convinced as anyone could tell a sorry story.

If possible, it is always best to go in with a good credit history. This will show the department that an individual is responsible and makes good decisions in their life. It has been reported at some police agencies that up to fifty percent of applicants are disqualified because of their past credit history. Another reason that some departments are leery of hiring people with bad credit is that it increases the chance of having corrupt officers. Police agencies sometimes worry that those who are in serious debt and being hounded by creditors will be more likely to take bribes and participate in other unethical actions.

Every police department is different and handles who they hire in their own particular manner. There are some police agencies that will go by the credit score alone and ask no questions. By looking at that credit score, that is all they need to know to judge someone. This is usually the larger or mid-sized police departments. For some of the smaller departments, a credit score may not even be a factor at all.

Some agencies do not care as much that someone has bad credit, but they want to see that an individual is making an effort to pay off their debts. If they have a continuous payment flow over the past six months, a police department may let the bad credit score slide. They just do not want to hire people who do not care and make no effort at all to pay back their debts.

It can be very disappointing for a person to work hard toward a career that they want to do only to be told that they cannot pursue it because of their credit history. This is a situation that nobody wants to be in. The best thing that a person can do is to not put themselves in that situation. This is one of the main reasons that a person will want to establish their credit and make sure that they maintain a good credit history throughout the years. All communities need good qualified police officers, and it is a sad loss when we lose an individual that would fit the shoes well due to a few financial mistakes tghat they made.

Top reasons why having good credit is important

There was a man, we will call him Bob, who was earnestly against credit cards or any other credit for that matter. Bob's advice to other people was that if you could not afford to pay for it with cash, then you don't need it.

When listening to Bob, a person could easily understand his view on the subject. Why would a person want to pay interest on something that they buy? If a vehicle's price was $30,000 after taxes and other fees, why would they want to pay a finance company thousands and thousands of more dollars for nothing? Well, the thousands of dollars are for giving the loan, but Bob still seen it as them doing nothing for him.

Listening to Bob's opinions, at first it seems that he is correct. He makes it seem that life is so much more expensive when using credit in life. When you think about the finance fees paid to credit card companies and other loan companies, it seems like a person is throwing their money away for nothing.

In actuality, living without credit will be far more expensive for a person than living a life with established credit. Why? Because in modern day society, having a good established credit history is needed for many reasons.

We will start out talking about renting a home to live in. When a person applies to rent a house or apartment, landlords will run a credit check on the applicant. Most of the time, the applicant will have to pay for the credit check with no guarantee that they will get the place. If a person has bad credit, it will be difficult for them to find a home despite them earning a decent salary. You see, having good credit is not only needed to buy a home but to also rent one. Looking for a home can be very time consuming and expensive if a person does not have credit established.

When a person does get into a home, they will have to turn on the electricity, gas, phone, etc. If they do not have a good established credit history, they are going to have to pay some heavy deposits to get everything turned on. If they have established credit, they will not have to pay any deposits.

A person with good credit, when purchasing a vehicle, will pay about $1,500 in interest fees for a $10,000 car. Many people will pay even less than that. People with bad credit on the other hand, or those with no credit history will most likely pay about five times more than that. They will have to pay about $7,500 of interest or more on that same $10,000 car. It is not a good feeling when the interest cost is almost the same as the car price, but those with no credit will have to pay these hefty fees if they cannot afford to pay for the car with cash.

Even though Bob is wrong about life being cheaper by not having credit, Bob's point of view on credit may have been influenced by all of the people he has seen get in to credit card debt. These people usually do not manage their money wisely and soon have a debt that they cannot pay back.

Everybody should have at least one credit card for when an emergency occurs. An emergency that most people do not see coming is their car breaking down on them. Many times, the cost to make repairs will easily run in the hundreds and sometimes thousands of dollars. Fixing their car as soon as possible is usually a top priority for most people as they have to get to work, take the kids to school, etc. When a person has a credit card, they do not have to worry about having all of the cash on hand to repair their car. If they have no credit history, have no credit cards and do not have any money saved up, they will be in a dilemma that could possibly cost them their job.

There is always another place a person in this situation can turn to, and once again it is more expensive than having a credit card. Payday loans will always be there for any employed person, but the interest rates are staggering when compared to credit cards. This could easily be hundreds of dollars thrown away that a person could have saved if they had a credit card.

When is the best time for a young person to get their first credit card?

It is very common for parents to think of their children's financial future. This I why parents save money for their children, plan their kids educational future and hope that their child succeeds in college. This is great, and these parents are showing that they care about their children's financial future. They want them to get a degree and get a good job when they are older.

It is not as common for parents to think about their children's credit history. this is a generalization, and there is surely many parents who think about their kids credit history, but there are many good intentioned and responsible parents who never give it a thought.

It is very important for a parent to teach kids about the importance of credit cards. There is a difference of opinion when this should start, but teenagers should already know the basics of how important credit is. Teenagers usually visualize themselves owning a home and buying their dream car when they are older, and they must be taught that to get these things in life, they must establish and protect their credit history.

In the old days, parents would add their kids to their credit card account and when payments were made, it would help build the kids credit history. That was stopped years ago and now a young person must get their own credit card and build their own credit history.

There are many credit cards that are easy to get and are usually tailored to those with bad credit. People with bad credit will have a difficult time getting a credit card and credit cards that are specialized for those with bad credit is an option for young people with no credit history. The bad thing about it though is that usually there are many fees that the credit card will have that normal credit cards do not have. They may have participation fees, service fees and other annual fees that are very high. Also, the interest rate will be higher than average.

Probably, the best option for a young person to build credit would be to get a secured credit card. Most of the popular banks have secured credit cards that a person can get. The card is secured with funds that a person would place in to a specialized bank account. These funds will not be able to be touched until a certain time period has past. Usually, this is at least a couple of years.

The way it works is that you deposit as much money as you want into this account. Many times, there is a minimum of at least a couple of hundred dollars. If a person deposits $200 in to this bank account, their credit card will have a $200 credit limit. If they deposit $500, they will have a $500 credit limit and so on. The bank is not worried about a person defaulting on their credit card because the funds are secured in the bank. After a certain amount of years go by, a person may withdraw their funds and the credit card will now be an unsecured credit card.

At what time is the correct age to do this though? When should a person open up a secured credit card? Many experts agree that the sooner it is the better. A good time to have this secured credit card is during college days. Experts agree that it is very wise for a parent to open up a secured credit card for their child during these years. When the young person is done with college, they will most likely have a degree, be job hunting and have a positive credit history. Of course, being responsible and making timely payments is also important and they will have to be taught the importance of this.

There are some people who do not see secured credit cards as a good option. They don't understand why someone would put $1000 into a bank account to get a credit card with a $1000 balance. It just doesn't make sense to them. Their logic of thinking is very understandable, but what they don't understand is that the person who does this is building their future. They are thinking of how they are going to benefit their life in the future by establishing superb credit.

Having too many open credit cards is bad for your credit history

If you were a child of 1980s, you may remember watching television shows or movies that would have a supposedly wealthy person flashing all of the credit cards in their wallet to show how rich they were. It seemed like they really had it going on in life. It showed kids that by having all of these credit cards, they could get almost anything that they wanted. Unfortunately, it did not show or give any information about the actor or actress paying the money back. Why would they? That would be boring wouldn't it!

Kids and teenagers of this generation grew up thinking that a person with lots of credit cards were cool and rich. Seemed like a person really had to be someone special to have all of that plastic. As these kids and teenagers grew older into young men and women, most have realized that a person with a ton of credit cards is a fool. They are most likely a person who is in debt and is having a difficult time making all of those credit card payments. Believe it or not, there are people who have 20 or more credit cards. They will have lots of different Visa cards, MasterCards, Discover Cards and many others. If you really put some thought into this, a wealthy person would not ever need this many different credit cards. If a person had a good credit history and made a large amount of money, they would be able to get a credit card with a very large credit limit. It would be the only credit card that they need. The person with 20 or so credit cards most likely has small credit limits on each one. $300 limit on this card, $500 on that card, $1000 on their oldest card and so on. This is a big problem that will one day haunt them.

Having too many credit cards automatically has a negative affect on a consumer's credit report and will keep their credit score lower than what it could be. Sure, it is great that all payments are being made on time every month, but when a person has too many open accounts, it is never a good thing. A person's credit score is basically a scale of what risk a person is of non-payment. When there are lots of open credit cards, this will naturally make a person a higher risk of defaulting on their credit cards.

A person should never have more than five or six credit cards. Some experts feel that even this is too many. For those who are trying to rebuild their credit or are starting out with their first credit card, one credit card is enough. As years go on and money management skills improve, three credit cards should be fine. It can be tempting to open up new retail store credit card accounts when a store is offering a promotion or sale for their credit card holders. A person will need to be disciplined or else they may find themselves in a mess one day when they find themselves having 20 open accounts.

Credit cards give people a false sense of security. Sure, they can help a person out in times of need, but does that person have the financial means to pay it back? Credit card companies have long gotten themselves and their customers in trouble by handing out credit cards like candy. Besides that, the credit limits that they give some people are far too high than what a person can afford. Remember, credit cards companies are a business that wants to make money. They need to stay profitable to run their operation. They can do a great deal of good for those who are responsible enough to manage their money properly. A person just needs to be wise when they are deciding whether to open up a new credit card account or not.

Employers taking a look at applicants credit history

More and more employers are taking a look at job applicant's past credit history as a criteria in their decision whether to hire them or not. One would think that this is limited to jobs that are in the financial sector, but it is going on in all industries. In the past, it was common for a person with bad credit to rarely be hired in a position that handled money. With all of their financial problems, they posed as a person who would be tempted to possibly steal. Now, positions that have nothing to do with money transactions are protected from people with bad credit.

When interviewing a potential employee, an employer will want to get a feel of the person. This is done of course with general questions about their education, past job history and by asking questions such as "What can you do for our company?" This is all understandable and is what we are all familiar with. Interviewers sometimes even like to ask questions that will put a person under pressure to see how well they handle it. Again, this is something very understandable that we are all used of.

Another thing that will not come as a surprise to anyone is the background checks that companies do. They want to make sure that the person that they are hiring is not a former felon with a long criminal record. Businesses do not have any room available for drug users, thieves or abusers. Of course people do some things when they are young that they are later ashamed of, but the employer does not know you and when there is a criminal history on paper, it is all they are going to go by.

Now, we come to the credit check. The way companies look at this is that if a person cannot fulfill their financial responsibilities, it says a lot about them. Companies want employees who are responsible and pay their bills on time. They do not want people who make excuses as to why they could not pay their bills on time. They want people who have solutions to problems, and when a person shows that they did not have a solution to pay their bills when they did not have the money, a company sees that as a negative. They want to hire people who can find their way out of extreme circumstances to get done what needs to be done.

Law enforcement agencies are very strict on the credit profile of new cops that they are considering to hire. There is far too many stories of young men or women who have always dreamed of becoming a police officer only to get disqualified during the long hiring process because of their bad credit. The sad part is that many of these applicants do not know that their credit will have had an impact on their career choice. Many of these people are applicants that are in their early twenties, probably straight out of the military and had their whole life planned around a law enforcement career. It is a shame because many of them could have possibly been great officers.

Whether we agree with getting judged by our credit score or not, it is used by employers as part of our make-up and is not going to change. Employers want to know all about who they are hiring, and with technology these days, they can find out almost everything. Remember, having good credit is not only important to purchase a car or to buy a house, it is also important to gain employment.

Cash Advance Loans Reality Check

Payday loans, or what some people refer to as cash advance loans are a booming business that allows working people to get a short term loan usually from around $100 to $1,500.00. The way it works is that these companies will loan you the money that you need until your next payday. These cash advance loan companies can be very helpful for someone who immediately needs cash due to an emergency. For instance, if the car breaks down and you can't afford to fix it at the moment until your next pay check comes in but need to get to work the rest of the week. Or maybe you have a credit card that needs to be paid right away and you don't want to be late on it; a cash advance loan can be just what you need!

These pay day loans can be very handy when used responsibly but caution needs to be taken. It is not good to be taking these cash advance loans out too much. For example, you don't want to get caught living ahead of yourself and find yourself getting these loans every single week. You will be paying interest charges every single week for these loans!

If you are responsible though and need a pay day loan, I will advise a company that is the best that I have found out there. The name of the company is discountadvances.com and they offer a very low interest charge for first time customers. They will only charge you $8.75 for every $100 you borrow. Go ahead and check out some of the other companies rates and you will see what a great deal this is. I usually don't recommend companies to people but I really hate to see people get ripped off by some of the shady cash advance companies out there.  Don't worry if you have bad credit or anything like that, that is irrelevant when getting a payday loan from this company. There are a couple of things to be eligible though, you must be employed and have a regular income + you must have a checking account. The money will be deposited directly into your checking account the very next morning after you apply and get accepted.

If you're ready to get the loan that you probably needed yesterday, you are going to want to check them out. If you are employed and have a bank account, chances are that you qualify. I also have to mention that the company also offers personal loans. Personal loans will have higher amounts and will have a longer payoff time. Usually the personal loan will have to be paid back in full within three months. I've included a link below for you.

How to get out of credit card debt

Getting out of credit card debt is an unfortunate dilemma that many people find themselves dealing with. This article is geared to those who are looking for a way to pay off their credit card debts and feel like they are actually accomplishing something as they make their monthly payments.

Let's say you have 1o credit cards and each one has minimum payments of $40, you will be paying around $400 per month on your credit cards when making these minimum payments and half of that will go to interest charges and other fees. It would take someone many, many years to pay off their credit card debt if all they did was pay the minimum payment each month on all of their credit cards. What your going to have to do is concentrate on paying off one credit card at a time. Which credit card? This is highly debated by some people as some will say to start with the one that has the highest interest charges and work your way down and some will say to start with the one with the lowest balance and work your way up. In this example in paying off your credit card debt, starting with the lower balances makes sense because you will be trying to get as many of your credit cards to $0 balances as quickly as possible. You will also need to dedicate an extra $100 per month minus your minimum payments each month to quickly get you out of credit card debt.

To further explain this example, let's say your 10 credit card balances to start off with are:

Credit Card 1 $300
Credit Card 2 $300
Credit Card 3 $500
Credit Card 4 $500
Credit Card 5 $500
Credit Card 6 $700
Credit Card 7 $800
Credit Card 8 $800
Credit Card 9 $1000
Credit Card 10 $1000

Month 1:

Make the minimum payments on all of your credit cards and add an extra $100 to your credit card that has the lowest balance. In this example, it would be one of the credit cards with a $300 balance and credit card 1. Credit card 1 would receive a total payment of $140 and all the other credit cards will receive $40. After interest charges and so on your balances will look something like this after your month 1 payments.

Credit Card 1 $180
Credit Card 2 $280
Credit Card 3 $280
Credit Card 4 $480
Credit Card 5 $480
Credit Card 6 $680
Credit Card 7 $780
Credit Card 8 $780
Credit Card 9 $980
Credit Card 10 $980

You will have paid $40 to all 10 of your credit cards but also applied the extra $100 (total $140) to the credit card your working on. In this example we are also assuming that your credit cards have very high APR rates, of course everyone's situation is different. Having low APR rates of course will help you get out of credit card debt quicker. In this example, we are assuming that half of your $40 payments gets eaten up by interest charges.

Month 2:

Make the minimum payments once again on all your credit cards and apply that extra $100 to that credit card you're working on, credit card 1. After month 2 payments, your balances will look like this.

Credit Card 1 $60
Credit Card 2 $260
Credit Card 3 $260
Credit Card 4 $460
Credit Card 5 $460
Credit Card 6 $660
Credit Card 7 $760
Credit Card 8 $760
Credit Card 9 $960
Credit Card 10 $960


Month 3:

Same thing again but this time the extra $100 that you apply to your credit card debt will not all go to that first credit card your working on (credit card 1) because you owe only $60 on it. You will apply the regular $40 to each credit card and will only have to apply $20 (out of the extra $100) to pay off that first credit card. You now have one credit card debt paid off (credit card 1). The extra $80 (out of the extra $100) will go toward the second credit card (credit card 2) you are working on so the total payment for this second card would be $120 this month. At the end of this month, your credit card balances will look like this.

Credit Card 1 $0
Credit Card 2 $160
Credit Card 3 $240
Credit Card 4 $440
Credit Card 5 $440
Credit Card 6 $640
Credit Card 7 $740
Credit Card 8 $740
Credit Card 9 $940
Credit Card 10 $940

Month 4:

Before you had to pay the minimum payments on all 10 of your credit cards at $40 each and it totaled $400. Now that you have paid off one of your credit cards and that bill is no longer coming in this month you can save that $40 each month, right? Wrong! If you want to quickly get out of credit card debt you are going to have to stick to the plan here. That $40 that would have went to credit card 1 will be applied somewhere else now. O.K., we understand that credit card 1 is credit card debt free and requires no payment this month. Credit card 2 will receive it's regular $40 monthly payment, the extra $100 payment plus the $40 that credit card 1 would have received. You have $180 right here that you can apply to credit card 2. Making the $180 payment will close out credit card 2 and leave it with a $0 balance. All of the other credit cards will of course all receive the regular $40 payments. After month 4 your credit card balances will look like this.

Credit Card 1 $0
Credit Card 2 $0
Credit Card 3 $220
Credit Card 4 $420
Credit Card 5 $420
Credit Card 6 $620
Credit Card 7 $720
Credit Card 8 $720
Credit Card 9 $920
Credit Card 10 $920

Month 5:

This month you will apply the regular $40 to each credit card but now you have two credit cards that you will not be receiving a credit card bill from. You will now be working on credit card 3 to pay off which has a $220 balance. To help pay it off, you will have the regular $40 for credit card 3, the extra $100, the $40 that would have went to credit card 1 if it had a balance, and the $40 that would have went to credit card 2 if it had a balance. In total you have $220 to help you pay off credit card 3. After these payments your balances will look like this.

Credit Card 1 $0
Credit Card 2 $0
Credit Card 3 $20
Credit Card 4 $400
Credit Card 5 $400
Credit Card 6 $600
Credit Card 7 $700
Credit Card 8 $700
Credit Card 9 $900
Credit Card 10 $900

Month 6:

Same formula here, $40 to each credit card and for credit card 3 you have $220 to help pay it off. Of course, only $20 will pay it off this month so you have $200 extra to apply toward credit card 4, making credit card 4 total payment this month $240. Balances at the end of this month are.

Credit Card 1 $0
Credit Card 2 $0
Credit Card 3 $0
Credit Card 4 $180
Credit Card 5 $380
Credit Card 6 $580
Credit Card 7 $680
Credit Card 8 $680
Credit Card 9 $880
Credit Card 10 $880

Month 7:

Paying off your credit card debt is a numbers game and by this time you should see that you are really getting somewhere. This month, credit card 4 will receive the regular $40 applied to it, plus the $40 each that would have been applied to credit card 1, credit card 2, and credit card 3. This makes it $160 that can be applied to credit card 4. Let's not forget the extra $100 to make the total $260 that can go to credit card 4. The balance is only $180 so credit card 4 will be paid off and leave an extra $80 to go to credit card 5. Credit card 5 will receive a monthly payment of $120 and all others the regular $40 payments.

Credit Card 1 $0
Credit Card 2 $0
Credit Card 3 $0
Credit Card 4 $0
Credit Card 5 $280
Credit Card 6 $560
Credit Card 7 $660
Credit Card 8 $660
Credit Card 9 $860
Credit Card 10 $860

Month 8:

You will have $300 to apply to credit card 5. The regular $40 for it plus the $40 that would have went to credit cards 1-4 equals $200, plus the extra $100 equals $300. All other credit cards will receive their $40.

Credit Card 1 $0
Credit Card 2 $0
Credit Card 3 $0
Credit Card 4 $0
Credit Card 5 $0
Credit Card 6 $540
Credit Card 7 $640
Credit Card 8 $640
Credit Card 9 $840
Credit Card 10 $840

Month 9:

By now you should have a good understanding on how this formula for paying off your credit card debt works. This month credit card 6 will have $340 applied to the balance and all other credit cards will receive $40.

Credit Card 1 $0
Credit Card 2 $0
Credit Card 3 $0
Credit Card 4 $0
Credit Card 5 $0
Credit Card 6 $220
Credit Card 7 $620
Credit Card 8 $620
Credit Card 9 $820
Credit Card 10 $820

Month 10:

Credit card 6 has $340 that can be applied but $220 pays it off, leaving $120 left to be applied to credit card 7. $40 goes to all others with credit card 7 receiving a $160 total payment.

Credit Card 1 $0
Credit Card 2 $0
Credit Card 3 $0
Credit Card 4 $0
Credit Card 5 $0
Credit Card 6 $0
Credit Card 7 $480
Credit Card 8 $600
Credit Card 9 $800
Credit Card 10 $800

Month 11:

$380 can be paid to credit card 7 and all others receive $40 payments.

Credit Card 1 $0
Credit Card 2 $0
Credit Card 3 $0
Credit Card 4 $0
Credit Card 5 $0
Credit Card 6 $0
Credit Card 7 $120
Credit Card 8 $580
Credit Card 9 $780
Credit Card 10 $780

Month 12:

$380 can be applied to credit card 7, of course $120 will pay off credit card 7 balance so there is an extra $260 that can be applied to credit card 8 which will give credit card 8 a total payment of $300 for the month with the others getting the regular $40 payment.

Credit Card 1 $0
Credit Card 2 $0
Credit Card 3 $0
Credit Card 4 $0
Credit Card 5 $0
Credit Card 6 $0
Credit Card 7 $0
Credit Card 8 $300
Credit Card 9 $760
Credit Card 10 $760

TOTAL = $1,820

The above will be your balances on your credit cards after one year of using this formula. After 12 months, continue using this formula to pay off all of your credit cards until done. If you had just paid the minimum payments on all 10 credit cards during the year, your balances would have looked more like this:

Credit Card 1 $60
Credit Card 2 $60
Credit Card 3 $260
Credit Card 4 $260
Credit Card 5 $260
Credit Card 6 $460
Credit Card 7 $560
Credit Card 8 $560
Credit Card 9 $760
Credit Card 10 $760

TOTAL = $4,000

Using this formula, you will owe $1,820 after 12 months of work instead of owing $4,000! Of course, your credit card debt situation and numbers will differ from the above example but use this method to pay off your credit card debt and you will be satisfied as you see your balances go down. Of course some discipline is involved as for this plan to work you have to stop using any of your credit cards. Good luck yo you!

Credit Cards That Offer Balance Transfers With No Fee can Help Consumers Save

Credit cards that provide a balance transfer with zero fees can be an option to a lot of credit card users. Rather than getting trapped using only one credit card, it is frequently recommended to change your card as you find better bargains and prices available elsewhere. There are times when this may seem problematic if you are still carrying a balance on your older credit card. Fortunately, there are many balance transfer credit cards available, enabling you to move all of your present card debts into one payment per month.

The top way of controlling your credit cards is to choose a complimentary balance transfer credit card. This indicates that there will not be any extra fees when you sign up, and you may shortly find your obligations easier to manage. Actually, you might also pay off the debt faster because of the fact that interest is not being added by each individual card company.

As an example, if you have three different credit cards and are currently paying interest on them (which you surely are,) you will want to apply for a new credit card that offers balance transfers. You can transfer all of those three card's balances to your new credit card and only have one monthly payment to pay. The very best thing about all of this is that you will not be paying any interest for a while. These balance transfer offers always come with a 0% A.P.R. introductory period. It may be a year before you are charged any interest. Pay it off before then and pay no interest at all!

In case you are struggling to keep track of how much you owe on each credit card,  a balance transfer card offers you only one balance to keep track of - leaving it much less likely you may overspend. Setting yourself a regular spending limit can be the important thing to improving your credit score along with working out any debt. Take a moment to examine the balance transfer cards and start paying zero percent interest.

Credit card addiction

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.

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.

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.

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.

How to build a credit history

In the past, someone who wanted to build their credit history would have a friend or relative simply add them as an authorized user on their credit card account and it would improved the authorized user’s credit score, allowing them to apply for their own cards or loans in the near future. But this tactic, called “credit piggy-backing”, is now obsolete. Authorized users no longer get a credit boost. In order to help someone pump up their credit, it’s now necessary to risk your own through co-signing which many people are not so brave to do.

The way I built my credit history was with a secured Visa card. It's been a while and I don't have that credit card anymore or even remember what company it was but I do remember that I had placed $300 into their savings account and they gave me a credit card with a $300 limit. It didn't feel so good having to give all that money just to get a credit card in that amount but I didn't know any alternatives since I had no one to credit piggy-back with. It worked and years later I had built my credit score enough to get some of the better unsecured credit cards out there. By the way, I remember with that secured Visa you had to keep your $300 in their bank for two years. After that I requested my money back and they returned it to me plus a couple bucks extra interest.

If you don't want to go the secured credit card route then there are credit card companies that offer credit cards that are aimed for people to build a credit history. If you have not ever had any credit many see your credit the same as someone with bad credit so you are in the same boat. Do you have No Credit or Poor Credit? Find the right Credit Card for your situation! here. Another place you can check out is at Credit-Land.com - Find the best credit cards for your needs.

Co-Signing for family or a friend

What do you do when a relative or good friend comes up to you ask you if you can co-sign for them on a credit card or a new car or... This can be an awkward situation. Of course you would like to help them out by co-signing for them but you also know that if they miss a payment that the negative mark will also go in your name too and affect your credit score. If the balance became due in full it would not just be on them but also on you. Keeping your credit good is hard enough but if anyone were going to mess it up you would want it to be you, not someone else.

If you are going to co-sign for someone do it with the mind set that you will soon have to take over these payments. If your mind set is that they will take care of their business the way they should and then they don't you don't want to be surprised with a payment that you can not afford.

Also, make it clear to your relative or friend that if they can not make a payment to be sure to let you know about it so you can make that payment.Nothing worse than them not telling you and just not paying.

It is really risky to co-sign for someone. Personally, the only people I would ever co-sign for would be my own kids but that's just me.

Understanding your credit card statement

Whether you are new to the world of credit cards, or a seasoned veteran, understanding the information in your credit card statement can be confusing. There is a lot of information packed onto a single page, and if you’ve never taken the time to review your statement in detail, it may be a good idea for you to do so. That way you are more likely to notice if there are any abnormalities with a statement that might indicate identity theft or merchant errors.

The statement should display your account number prominently. This is the number that uniquely identifies you to the credit card company. When purchases are made using your credit card, they are all attached to this account number and charged to you. If you need to call customer service for any reason, you will be asked to provide the account number.

If you’ve ever used one of your credit cards and had difficulty making an online purchase or a purchase over the phone because the merchant says your name doesn’t match, it’s probably because you have used a middle initial on your card but not in the checkout process, or vice versa. On your statement you can view your name as it is saved in relation to your credit card account. Jane L. Doe is different from Jane Doe or Jane Lee Doe, so it’s important to note how your account is set up.

The statement date displayed on the credit card statement shows you all transactions that took place between the last statement date and the current one. The payment due date is the date which your credit card company should receive payment in order to avoid late fees and additional finance charges. While some companies allow you to postmark your payment on the due date, most want to receive it by the due date, so plan accordingly.

The credit line shows you how much money the credit card company will allow you to charge on their card at one time. You can charge multiple transactions, but the total amount owed must not go over this amount. If you do manage to spend more than your credit line, you will pay over-the-limit fees. The credit available displays how much of your credit line you still have available to spend.

The new balance information displays how much you have charged and have not yet paid back. If you pay the entire amount in this column, you will not be charged interest. The minimum amount due is the amount of money that you are required to send by the due date.

The transaction list is a detailed listing of everything that has occurred with your account since the last statement. It will detail purchases, returns and refunds, and interest charged to the account. If there is anything you don’t remember buying, contact the company listed in the transaction listing or call your credit card account immediately.

There is also a section that shows how your current balance was calculated. It shows purchases, finance charges, interest, your last payment information, and then the total balance of the card is shown again in this section as well as the minimum amount you must pay that month to stay current with your payments. You should always try to send more than the minimum, if not the entire balance, each month to avoid finance charges, and interest. The finance charge summary section will show you how interest and finance charges are applied to any balance that remains on your card from one month to the next.

Teaching your children about savings and interest

Many children see their parents everyday in life going to ATM machines, sticking a car in it and having money come out. How magical! The child does not realize many times that it is hard earned money that you had to work for.

Giving your child a small allowance is a great tool to teach your children about saving and banking. Let me share my experience of how I do it with my kids.

I give my three kids $5 per week. I tell them that they can spend the money if they want to or they can save it. We have saving boxes for all three of them at our home. Each week I will see how much they have in their savings box and I will pay them 50% interest on their savings, this is my way of showing them how interest works. If they have $20 in their savings box when Monday comes around they will get $10 interest and the new $5 allowance for the week. It's a great way to show them how to save.

I have been doing this for years with them but the only problem now is that my oldest child is now 12 and she's really getting good at saving and I will probably have to lower her interest rate because poor old dad here will not be able to afford to pay her 50% interest. Geez! I hope she realizes that in real life the banks are not so generous. Imagine the disappointment when she grows up and a bank wants to pay her only 1% interest!

Beware of Two-Cycle Billing

The amount of interest you pay is based on your average daily balance. Many card companies have come up with a new method of calculating your average daily balance by considering not only this month’s average balance but also the previous months. The problem with this is that amount is usually higher when you’re in the process of paying off your debt making it even harder to do so.