Whether you have a credit card or not, it pays to know the alternatives to them. If you have a card, you might have heard the term charge card before. However, many people don’t really know the difference between a charge card and a credit card, and what the benefits and drawbacks of a charge card are. If you want to know more about charge cards then here are some useful tips to get you started.

What is a charge card?

A charge card is a plastic card much like a credit card, in that you can pay for goods and withdraw money using the card. However, unlike credit cards, the balance of a charge card has to be settled in full each month. The most common examples of charge cards are American Express and Diners Club cards, as well as some gold cards.

Paying the balance in full

The main feature of a charge card is that you have to pay the balance off in full each month. If you currently have a credit card and pay your balance off each month, then having a charge card would be very similar to this. Settling the balance each month means that you can budget an exact amount that you can afford to spend. However, you must remember that if you cannot pay off the balance then the penalty interest will be much higher than a normal credit card.

No limits

Another feature of charge cards is that there are no real pre-set spending limits on the card, meaning in theory you can spend what you want on it. This is brilliant if you can afford to pay off large amounts each month, but can be disastrous if you are not disciplined. You could easily run up very large debts that you have no means of paying off at the end of the month. However, having no limit is useful in an emergency because it gives you more flexibility.

Benefits

Although charge card bills need to be settled each month, many people get charge cards because of the excellent benefits that they offer their customers. Although benefits differ from card to card, privileges can include free travel insurance, as well as access to business lounges in airports. Charge cards are a good tool for people who travel around a lot and want to be comfortable wherever they go.

Not always accepted

One of the main disadvantages of charge cards is that they are not as widely accepted as Visa or MasterCard credit cards. This is because charge card issuers charge a higher percentage to businesses, meaning that a number of them are unwilling to allow purchases with these cards

Most businesses have a time in their life when they need funds in order to grow. What do you do, however, when you need the money to grow, but you also have bad credit? Many banks will not give a loan under such circumstances. It is considered a potentially bad risk. Today, there are actually a number of places where you can still get that loan you need. Here are a few things you can do to fund your business venture.

Starting A Business

If you are just starting a new business, as an entrepreneur, then getting that new loan is tied to your own credit ratings. If you have bad credit, the easiest way to get the loan you need is to get a secured loan. This means that you put up something as collateral for the financing. The only thing is, you want to be quite sure that you can pay off the loan, since your house (or car) is probably tied to it.

Higher Interest

An unsecured loan is also a possibility, but you probably will not be able to get as much (probably about half as much, or less) as with a secured loan. Loan agencies look at a credit rating as a reference of your likelihood to pay. If you show them some collateral, this will make them pretty happy. If you do not, you will not come away with as much money. But in either case, a bad credit rating will get you a much higher interest rate.

Loans Available

Although your bank probably will not give you the loan, there are many other agencies available that will. It will be easiest to find them through the Internet, and where you also have the convenience of applying online.

Do Some Comparison Shopping

You should apply for your business loan at a Website where you can get several offers from the same application. This will definitely simplify things. Otherwise, you will need to be filling out many forms - many times. It would be a real good idea to apply at more than one Website, too. Then, after you get the various offers, you need to sit down and take some time to determine which one you really want, and which one is most suitable to your financial situation and goals. By looking around, and not being in such a hurry, you probably can find a good loan with some rather decent interest rates and lower payments, too.

Check The Institutions Credibility

Before you sign the dotted line though, because you are so happy that they will fund your new business, you need to check out the agency to make sure it is a legitimate business. There is a whole lot of fraud going on these days and you don't want it to further effect your credit rating.

If you've ever applied for a credit card, a personal loan, or insurance, there's a file about you. This file is known as your credit report. It is chock full of information on where you live, how you pay your bills, and whether you've been sued, arrested, or filed for bankruptcy. Consumer reporting companies sell the information in your report to creditors, insurers, employers, and other businesses with a legitimate need for it. They use the information to evaluate your applications for credit, insurance, employment, or a lease.
Having a good credit report means it will be easier for you to get loans and lower interest rates. Lower interest rates usually translate into smaller monthly payments.
Nevertheless, newspapers, radio, TV, and the Internet are filled with ads for companies and services that promise to erase accurate negative information in your credit report in exchange for a fee. The scam artists who run these ads not only don't deliver — they can't deliver. Only time, a deliberate effort, and a plan to repay your bills will improve your credit as it's detailed in your credit report.
This is why it is critical for you to fully understand how to read your credit report.
Credit reports are much easier to read now than in the past, because years of pressure from consumer advocates and regulators led to significant changes in the credit-reporting industry. The rise of identity theft was a key consideration for lawmakers when Congress wrote the Fair and Accurate Credit Transactions Act of 2003, which amends the Fair Credit Reporting Act. During that process, consumer advocates and others called attention to the growing importance of consumers understanding how the credit system works.
These days, bad marks on your credit report can determine whether you land the job you're applying for, how much you pay for auto and homeowners insurance, and your credit card interest rate, plus whether you have to pay your utility or cell phone company a deposit.
But, despite tougher laws, including free reports for consumers, centralized fraud reporting, and more pressure on creditors to respond to consumers' complaints, the credit-reporting industry is still, to a large degree, a black box, and credit reports are not nearly as clear and understandable as they could be. Consumers still get confused.
You should focus on identifying what's bad on your reports and the information you'll need for planning your repair effort. There are many different styles and formats of credit report, but most of them derive from one of the three super-bureaus that supplied the information being reported. Each of the three main credit bureaus uses a different format, plus each bureau's format varies depending on whether you request the report online or order it by phone or mail.

If you are thinking about hiring a credit repair service to clean up your bad credit report, you better take notes on the following special report:
Credit Repair Services are robbing unsuspecting consumers blind with their shifty scams, false hopes and broken promises. The director of the Federal Trade Commission's Bureau of Consumer Protection warns citizens in need of credit repair to be advised of numerous credit repair service scams and schemes. He states that while "There are legitimate, credit repair options available, the FTC has never seen a legitimate credit repair company."
Don’t be fooled by credit repair services that contact you with hard-sell tactics, unbelievable promises and outlandish fees. There are several big-time scams underway in the United States fooling consumers into paying big bucks to have their credit report cleared.
Be wary of credit repair services claiming that they are “in” with the credit bureaus, have some sort of special arrangement or know a secret tactic to make credit reporting agencies delete bad credit reports from your file.
There is no such thing as an ‘in” with the credit bureaus, they have rules and regulations that they follow to the letter, no matter what credit repair service you represent. The credit bureau may temporarily remove the debt in question from your file and place it on the disputed list, but when the bogus credit repair service doesn’t follow up with the proper procedures, the debt will return onto your credit report. This temporary deletion from your file is the so-called ‘clean credit report’ the credit repair service is promising.
Another bogus line some Credit Repair Services use to hook you is; “we can convince the creditor you don’t really owe this debt.” They come with a scheme to have you challenge the debt and then attack the debt holder with procedural requests that will allegedly make them drop the bad claim off of your credit report. Although there are legitimate ways to compel a debt holder to prove disputed debts, this is not an effective method and consumers rarely see any long term results from using this type of credit repair service scheme.
The third scam to look out for is for a price, the credit repair service promises to get you a whole new, clean credit file. The credit service tells you to apply for a new taxpayer id or Employer Identification Number, also known as a EIN, to build a new credit report. This is a felony and could land you and the credit repair service into serious trouble.
The reason unsuspecting consumers get taken by this scam is because the credit repair service does not fully explain what they are being asked to do. In most cases they don’t even realize that this is not a legal solution to their credit repair problems. Be leery if any credit repair service promises you a new credit file or fresh credit history.

Reward programs are being utilized by credit card companies to attract many clients. Who wouldn't want to receive a certain amount of cash back by making frequent purchases? Free money is valued by almost individual, especially during hard times. But it can be quite costly in the long run, why?
Companies promise their customers some kind of reward or points every time they make purchases or simply spend money on a particular thing. That is why you tend to purchase or spend more than you should just to earn points in order to get a reward. And once the bill arrives, you will be shocked by the huge amount of payments that you need to settle.
However, rewards are not that bad. In fact, you do get some benefits with it.
When you secure an application form for a credit card, make sure that you're not just there because of the rewards that you are looking forward to earn. You have to know all the terms, the conditions, the rates, the rewards, and other important matters.
Reward programs are not the same all throughout. Most of these programs change over time, to suit the different needs of the people in different times or situations. Take time to read everything about your credit card application, including those in fine print. Familiarize yourself with the type of agreement there is. There are also companies which expressly state that they frequently change their reward programs if badly needed.
Rewards provided by your credit cards are usually based on how much money was spent over a specified period. Every time you make a purchase, your points are accumulated. The value and points vary, based on the card that you're using. You can redeem your rewards in the form of airline miles, gas rebates, store gift cards, cash back, discounts on merchandise, and many more.
Consider the following tips in choosing the right reward credit card:
- Your habits and needs should be considered, and not just the rewards that you're expecting to get out of the card. If you always carry a monthly balance, choose a card with low APR or interest rate.
- The reward should suit you best. As mentioned earlier, cards carry different rewards. So you need to gather as much information about the different rewards offered by different credit cards.
- The 'fine print' is just as important as the other prints in the document, so you need to read that carefully. Reward points accumulate over time, and it has an expiration. You should also know the different fees being charged by the card issuer which include APR, late fees, and limit fees.
- Before choosing a card, compare several credit cards first. Since you already know what type of reward you like, check if the cards offer such reward.
- Check a number of sources of valuable information. The internet is probably the best site to obtain credit card comparisons; another is the Federal Reserve.
If you want to enhance your daily life, then its time to get a credit card; but just make sure that you use it in a responsible manner. You can buy anything even when you're on a tight budget, and when the bill arrives, pay your dues to avoid a bad debt.

Going to college can be fun and at the same time difficult for many people, especially for the parents, but as said, having a degree is important for their child to have because with it, the child will acquire jobs that will help get them through life. If you're a parent, consider applying your son or daughter a student credit card.

As a parent, you are responsible for your daughters and sons going to school and providing them the education they want and need. Student credit cards can help parents with the expenses during their children's college years. But applying for student credit cards must be taken into a lot of consideration because some children often take advantage of the fact that they have a credit card.

Student credit cards are highly recommended for students that are away in college or distant from home. If you're planning on getting your child a credit card, consider applying for lower limits that is most ideal for your student child allowing them to learn about responsibility and teach them how to use their credit cards responsibly. High limits however are tempting especially for young adults because it can cause certain troubles like over rates and payment delay due to shortage of funds.

There are different kinds of credit cards available for students, however credit cards with the best interest rates are best advisable for your young adult. You will be able to save money and even apply for other cards that have no interest rates offered in the first month, therefore giving advantages to buying available and needed school materials for the college terms. There are also rewards promos when you avail a student card for your student that earns a point every time the credit cards are used. This is a point system that accumulates while making purchases using the card and is converted into different brands of items. Try to get a credit card for your young adult having reward promos so to enhance their experience in having a credit card during their years in college.

Vital information you should consider is the quality and special security features that student credit cards include if ever lost or stolen. There are policies for every student credit card that can protect lost or stolen cards. Students have the tendency in misplacing their valuables or either result in theft but having protection for their cards will surely prevent others from using the student credit cards. There are also cards available online most convenient for your student to access and keep track of their accounts. Online access can save time for college students and allow make transactions to credit card companies without even visiting the company itself. Because time is very important for a student, online access is great and extremely convenient for students that allow them to also accommodate other activities.

In mind, parents with high expectations in their young adults like finishing a degree in college can assist their young adults by having student credit cards. These credit cards can help assist your young adult during their college years and with it expand their experiences with a trusty and secure credit cards.

Parents that have already applied their student child a credit card should always remind their young adults the purpose of having the credit card and therefore prioritize only on the school necessities that will earn them a degree. In conclusion, a student credit card is an option for parents responsible for their young adults to assist while in their college years.

A secured credit card is often the first step to establishing or re-establishing credit. Many advisors will recommend starting out with a secured card and then moving on to a unsecured card. In general, it is a good way to build a credit history. Most lenders like to see some sort of revolving credit on your report.

A secured credit card allows you to open and maintain a savings account that works as the security for your line of credit. You can't spend any more than you have in your savings. Some banks will even limit you to half of your savings as your credit card limit. The deposit can range from a few hundred dollars to thousands.

Some secured cards come with application and processing fees. Many will have annual fees. Make sure that you know what the fees are before you apply for any credit card, secured or unsecured.

In general, secured credit cards carry an annual fee and a higher interest rate than unsecured cards. That is why they are often a good first step for someone unable to get credit. The idea is that you aren't going to charge any more than you can pay in full. If you don't carry a balance, the interest rate won't affect you.

The credit card isn't to charge things you can't afford right now. It is to establish your credit in a positive manner. And you won't do that by charging up huge amounts and carrying a balance.

With that in mind, there are some things you should avoid. You've seen the adds that say nobody is denied credit. No matter how bad your credit is, you will be approved. But you will pay too much for that. Especially those adds that say there is no credit check necessary.

That is simply ridiculous. What is really going on is a scam. You start by calling a 900 number that charges you by the minute. You may get a list of banks that offer secured cards. You may get another 900 number to call. But chances are you won't get a cerdit card.

Avoid 900 calls. If there is no income requirement or credit check, it isn't for real. Watch out for really high interest rates and annual fees. Almost all reputable lenders will be charging the same rates and fees. Shop around.

No one can quarantee you credit. No card can be issued without a credit check. Legitimate lenders will never charge you for a phone call -- they all have local or 800 numbers.

Sometimes, you are just better off going into your local bank and dealing with someone that you know is reputable. There are benefits to forming a relationship with a bank. If you are a good customer for many years, you may find that you have an easier time with financing later on

Fond of traveling? Always on the go? If you're the quintessential jet setter, then you definitely should go for this - travel reward credit cards. It's the brand-new, ultimate solution to the ultimate globetrotter who always needs to be on the go. But what really are travel reward credit cards and how 'beneficial' are they for the cardholder?

Getting to Know Your Travel Credit Card

Travel reward credit cards give airline mile rewards to cardholders for availing the card. The cardholder accumulates points depending on the dollar amount of his purchases with the credit card. Once the number of points has been reached, the cardholder is entitled to an airline travel or any such related reward. There are actually three categories or types of travel reward credit cards, the airline miles earning card, the travel point card, and the hybrid card, a combination of the first two types. Airline mile earning cards earn 1 mile for every dollar spent while a travel point card earns 1 point for every dollar spent. The points can then be redeemed at the credit card's travel agency. The hybrid card earns 1 point for each dollar spent and can be exchanged for airline miles or used as travel points.

The jet-setter or the frequent flyer should consider an airline mile card or a hybrid card. With an airline mile credit card or a hybrid card, one can avail of free trips in first class even faster. Cards like Aerogold Visa and Royal Bank British Airways Platinum Visa can convert those economy trips to first class. On the other hand, for those who are not frequent flyers, the ideal choice to go for is the travel point card, or even the hybrid card. While these cards may not give free trips in a year, it can, however, provide discounts on your travel needs. As they offer points for every dollar spent which are redeemable as cash equivalent discounts through the credit card company's travel agency or reward center. Most cards offer $50 off for every 5000 points redeemed. These discounts can come in handy when the times come for that much-awaited trip or vacation.

Depending on the type of card, the reward may also cover purchase of gas, auto rentals, hotel accommodations and even purchase in shops and boutiques.

They also provide cash advances when you're on the road. There's also travel insurance that would include worldwide emergencies like medical evacuation, lost luggage, and emergency expatriation.

Travel Reward Credit Card SOS

The important thing with travel reward credit cards is you determine the frequency of your travels as well as your own spending habits. Before choosing which credit card to go for, assess the possible uses of these travel reward credit cards. Then, look for cards that offer the biggest savings on the types of purchases that you most probably will be making. If you're not the only one traveling, travel reward credit cards offering airline or car rental perks are good to go because it benefits, not only you, but your travel companion as well. Know also the schedule and value of the travel rewards these credit cards offer.

Of course, don't forget to read the terms and conditions, like the airline miles you gain for every dollar spent, or the airline miles you need to accumulate before qualifying for a free airline ticket or other rewards. And lastly, they come with an annual fee, so check to make sure that you know the charges to your account.

Bad credit becomes a major problem when it gets necessary to obtain loans from banks or lenders.

Although restoring credit is a daunting task, but it is very important and worthwhile in order to avoid further complications, and would help restore my credit with banks or creditors.

Restoring credit often becomes difficult when we already have several credit related problems, but there is always a solution to a problem. Therefore, the aim should be to find ways that would help restore my credit.

Guidelines To Assist In Restoring My Credit:

Restoring credit is a complicated task but it could certainly be made easy with the help of the following guidelines:

Improving on some personal habits is important to prevent bad credit, budgeting, not over spending and paying your bills on time. When it is difficult to keep financial commitments, one would need to seek advice from a credit repair specialist.

Get professional advice:

Apart from correcting personal spending habits, one also needs to seek advice about finances from accountants, business professionals, financial service agents and attorneys.

Order a copy of credit report:

Ordering a copy of credit report from leading credit-reporting services would be a good idea. According to the law, it should be made available to everyone free of cost once a year.

Your credit report will contain a list of all the debts and even indicate problem areas like the number of late payments over a period of thirty days, over sixty days, over ninety days.

One needs to make corrections and update erroneous information on credit reports, to help restore my credit. Any credit item, which is disputable, should be pointed out to the credit bureau and creditor. It would be better to put it in writing so that a creditor or a bank would be able to refer to and understand the dispute.

Try to maintain a consistent work record, regardless whether it is a full time or part time job. The basic idea being, to show a constant source of income.

Estimate errors of credit report:

It is very important to estimate errors in a credit report so that it is easier to know what needs to be improved upon. Some mistakes such as incorrect age or address can be fixed easily, but others demand a considerable amount of attention. For example, if one finds that the credit report contains somebody else’s debts, or if closed accounts show as open and other similar problems, one needs to notify the credit-reporting agency, along with the proof.

Factors that would help restore my credit:

Cancel all credit cards except one or two: Keep only one or two credit cards, as creditors assessing the credit report would observe better credit management. It is suggested that timely payment to one or both credit card is being made regularly and on time.

Prepare a detailed and realistic budget: Try to make a realistic budget in detail, which includes all kinds of monthly expenditure, along with an increased buffer to take care of sudden expenses. Then call all the creditors and let them know of the changes that have been made.

Pay all the bills on time:

One could even get a small loan from a bank or credit union and pay your debts back on time. Check that the credit union reports about it to one of the three main credit-reporting services.

It is very important to improve on the credit score to avoid embarrassment, and of course not being able to purchase what you need or want, of being denied loans and the extension of credit.

I hope this article helps you in restoring your credit.

Moreover, it could save a lot of money in interest rates.

I find that if you try and fix your credit rating you can do it better than anyone else. Fighting your way out of the credit jungle ensures at least one thing. You won’t do it again.

All of us make mistakes. We shouldn’t have to suffer for the rest of our lives just because of a bad patch. One thing is for certain. If you are going to dig yourself out from under, you’ll have to take planned action. Take some of these baby steps first.

• When you have your credit report, check any negatives in the report. Talk to the creditor. Don’t run and hide. Do you owe something? Okay…offer them a payment and see if they would oblige and remove the negative information.

• Go to your local department store and get a charge account. Use it, and repay the bills on a timely basis. Remember, you didn’t get into this pickle overnight. It will take some time and a whole lot of patience. But you can do it!

• Do you have a best friend with good credit? Ask them to cosign a small loan with you. On your payback, do not deviate one inch from the terms. That is vitally important!

• Gather some money together. Deposit it into the bank and leave it there. Use it to get yourself a credit card. Purchase goods with it. Make sure you repay on that credit card on a timely basis without fail.

Work with these few tips. Don’t let bad credit hurt you any longer. You take control now. Rebuild your credit. Take the advice in the Lexus car commercial. Rebuild your credit from the ground up.