“Make all you can, save all you can, give all you can.” - John Wesley English religious leader (1703 - 1791)

Your current financial situation is not necessarily your fault. I’m sure that you are like most people and never were taught by family or the educational system about how credit works. Few ever learn the power of compound interest or what credit really is.

Think about it for a moment. Where did you get your financial training? Where has the result of that training gotten you?

You are about to learn throughout the entire course of this series how to manage financial resources such as:

-Credit Management
-What To Do With Your Paycheck
-How To Plan Your Financial Life
-How To Plan For Retirement

In Step 1, we discussed internal change. A definition of insanity is doing the same thing over and over and expecting a different result. You need to change the way we feel and act about our finances. So let’s look at what credit is. If I was to ask ten people, I’m sure I would get pretty much the same answer. It would be something like credit is the opportunity to buy now and to pay later. That may hold some truth but look at it this way:

Credit is the opportunity to pay more for a product or service than is being asked.

Looking at it this way produces a different inner feeling, doesn’t it? Does it make you feel a bit foolish? Does it make you mad that you have become a prisoner of debt?

So ask yourself, what are you willing to do to change? Be specific. The more clear you can be with this answer, the better off you will be.

The next thing you need to do in this step is to develop a plan. Set some goals. Develop a plan of action and work it. You start this process by determining what you want, the end result that you desire and work backwards. Dare to dream. Remember when you were a child and thought the world was wide open and you could accomplish anything. Get back to that type of dreaming. The sky is the limit.

When you’re finished with your dream list, take a moment to examine what you wrote. Did you impose any limits based on other people’s beliefs or cultural beliefs? If you did, start the process over again.

You will feel it when it is right for you. Make it personal. You might want to complete this sentence: “If I had all the time in the world, and all the money I needed, I would…..

What is on your list? Does it include a big house and a fancy car? Maybe an expensive vacation or two? That would really be a great life, wouldn’t it?

Maybe…..maybe not. In reality, you’ve probably never lived that way and don’t know what it would be like. You have based your decisions because you have been conditioned to think that this is what you want. This is an advertiser’s definition of success.

Or maybe it is what you really want. Only you can decide. Only you know what is in your heart. Don’t let me put any limitations on your dreams. Really, explore what you truly want out of life.

Maybe, and I don’t know if this is your truth but, are you trying to keep up with the Joneses?

Many people have followed the Joneses right into the poor house, so make sure, beyond any shadow of a doubt that you have determined what you really want out of your life.

“When the water reaches the upper level, follow the rats.” - Claude Swanson US politician (1862 - 1939)

As Glenda the Good Witch told Dorothy when starting her on the yellow brick road to Oz, “it’s always best to start at the beginning.”

If you follow this program faithfully, you will be financially independent in a short period of time. The goal of this series of articles is not only to get you out of debt, but to show you how to pay off all of your debts and be completely free of your financial obligations. You will be living the true American dream. That is the dream of ownership. You will go from owing to owning.

This series will show you exactly why you are in debt so you can avoid those mistakes in the future. You will learn how to build wealth. There is only one truly real definition of being financially independent and that is to be financially dependent on no one. You will be completely independent of your job, any person and certainly independent of any government support.

So what is the first step? There are two parts.

Step 1/ Part 1 – Where Are You Now?
•How much debt do you have?
•What is your current income level?
•How much do you save?
•What do you spend your money on?
•What can you do differently?

After you figure out the answers to the above questions, giving yourself the most candid, honest answers you can, no matter how painful, you can establish a budget. A budget that you can stick with but not so rigid that there is no room for alterations along the way.

There is a process that I like to call my 30 day challenge. For the next 30 days, get a receipt for every purchase that you make, no matter how small – no matter how large, get a receipt and put them in an envelope. Write on them what the purchase was for if you must. At the end of the 30 days, look at what you spent your money on. You will be in for quite a surprise.

It is amazing what we really spend money on. Five bucks for a Starbucks coffee. Two dollars for this, ten dollars for that. Is it really all necessary? Could we have done without any of these things?

Step 1/Part 2 – Internal Change

The only way that you are ever going to change your financial situation is to change the thinking patterns that got you in debt in the first place. You become what you think about. So it only stands to reason that by changing what you focus on will give you different rewards.

You need to develop a personal discipline. The things that you must do might seem a bit uncomfortable or unfamiliar. You will need to step out of your comfort zone and think differently. You will need to think outside the box.

And finally, you will need to put forth the work that is necessary to achieve the financial independence that awaits you. It is your destiny. You must not be denied. Reach deep inside yourself and commit yourself to this process.

Make that commitment now.

You will become transformed, without a doubt.

In our second step, you will learn about credit. What it is. How it was developed. Why it has become a crutch in your life and how to use it without getting in financial trouble.

It is usually considered a good business practice that if you would feel ashamed to discuss with your family, to look elsewhere for a business model.

A growing number of card issuers have increased their profits by loading their credit cards with practices that consumers find themselves caught in from which they cannot escape. In addition, these same credit card companies, through intense lobbying have gotten a bankruptcy bill passed that makes it almost impossible for consumers to discharge their debt through Chapter 7 bankruptcy.

Credit card companies charge fees for things like paying your bill over the phone, which can average $5 to $15 per transaction, and there has been a 110 percent increase in charging over limit fee’s when it was other bank fee’s that put them over the limit in the first place.

These monthly fees are charged every month a consumer carries a credit balance higher than their credit limit, when the bank can simply enforce the credit limit to prevent consumers from exceeding it.

They actually think they are doing the consumer a favor by accepting a charge that will trigger this over limit fee.

But the excess fees are only the tip of the iceberg. The disclosure statement that comes with every credit card issued, has gone from one to seven pages of small, incomprehensible print that even has some attorney’s scratching their heads as to what this statement is trying to say. The disclosure is loaded with one sided terms and conditions that are geared to bury a consumer, with increased interest and fees. There is even one condition that allows the credit card issuer to change any of the terms at their whim.

That last sentence has me even scratching my head. Why would anyone ever agree to such an agreement?

Another hidden fee that traps consumers is one they never hear about at all, the "interchange fee" that retailers pay to process transactions made with credit cards. Merchants have been waging war with the credit and banking industries to disclose and standardize these fees, which they say amount to a "hidden tax" on consumers.

The credit card companies have long profited from placing hidden fees and practices on unsuspecting merchants and consumers. The interchange fee is the biggest fee consumers have never heard of and accounts for more than the total of all other consumer fees combined.

Now, the industry has come up with ever more aggressive marketing campaigns, usually targeting consumers through direct mail solicitations and on college campuses, developing a whole new market of consumers willing to accept subprime interest rates and an excessive fee structure.

The average household will receive between 50 and 75 credit card solicitations in the mail this year. The number of solicitations mailed in 2006 was a record 8 BILLION! That doesn’t even include their other, more aggressive, marketing strategies.

With the continuing slump of housing sales causing more defaults and foreclosures, and job growth continually shaky, consumers need help from their debt.

Credit cards are used to buy goods, pay for services and withdraw money from ATM machines. When you use your credit card to buy goods or pay for services, then approval will is given which depends on several factors but above all, on fund availability in relation to your allotted credit limit.

Applying for a credit card online is faster than the conventional process of visiting your bank then filling out all the involved the paperwork.

Your bank will publish you the credit card only if and when you meet their set requirements. When you meet their requirements, you are then allocated with a credit card account which is separate and distinct from your regular bank account.

Take note that before submitting your credit card application, you have to obtain your credit report first and make certain that it is accurate.

Your credit card will contain your credit limit as well as will include a PIN number. The credit card limit is generally the maximum number of dollars that your bank has loan to you to spend.

Your credit card choice ultimately will be established by your present credit score and financial situation. The credit score generally is a mathematical index that represents an individual’s financial credit “worthiness”.

Important questions to ask when applying:
1. Is the credit card accepted in many places?
Almost all places and establishments accept at one brand-name of credit card like Visa, MasterCard and American Express. Fewer accept Diner's Card or Discover although these cards can be used in large restaurants and stores. Almost all store cards like JC Penny's or Limited Sears, only are accepted by specific store which issued them.

2. Is there a yearly fee?

Several credit cards do charge a yearly fee of usually as low as 20 dollars a year, however other companies do waive the yearly fee since they want you in their business.

3. Do you need to pay the whole balance off every month?
4. If you do not pay the whole balance off, how much the interest rate?
5. Is there any penalty for “late payments”? If so there is, how much?
Note that credit card firms earn money from you by means of charging you higher fees for your late payments. Therefore make certain ask your credit card firm how much they charge and if you did not receive your card statement to avoid charges on late payment.

6. What is your credit line? How long as well as how frequently will raise it?
When you have not at all obtained a credit card before, a lot companies will begin granting you with “a lower credit line”, normally from 100-500 dollars. But, if you pay your dues on time always, the company will usually increase your “credit line” every twice or once a year.

7. Does your credit card offer you added benefits?
Inquire about added benefits on your credit card such as life or travel insurance, ask if goods purchased through your credit card are usually protected as well as if you get coupons or discounts from special stores.

Credit card features and costs
Credit terms vary among credit card issuers; therefore it is sensible to shop around first for the credit card that best fit your needs.
How you determine which is the right one for you depends on how will you use it. When you pay always in fill your monthly statement, the best kind of credit card is the one containing no yearly fee and provides a “grace period” for paying the bill without having to pay a finance fee.

On the other hand, when you always do not pay off your credit card monthly balance, make sure to inspect the yearly percentage rate.

Suggestions
• Make certain you understand all the terms and conditions of the plan before accepting the card. Examine and carefully review all the fees and disclosures that should appear on “credit card” offers that you get from the mail.
• Pay your card bills punctually so to avoid paying interests.
• Keep sales slip copies and promptly put side by side charges upon arrival of your bills.
• Protect your account and credit card numbers to avoid unauthorized use. Tear carbons and always put a line on blank spaces located above your total when signing receipts.
• Keep a record of all your card numbers as well as contact numbers of every card issuer in case you lose your cards or are stolen.

Credit cards can offer many different services, there making it a very essential tool. Just keep in mind, when used correctly, credit cards help improve and ease your life.

Credit monitoring services alert individuals to changes to their credit report instantly- either via email, text message on cell phones or by phone calls. Many people use credit monitoring services to help them keep an eye on their credit histories and to increase their ability to recognize a fraudulent activity.

The US Federal Trade Commission estimates that it takes about a year before a consumer notices that they have been victims of identity theft. If you are using a credit monitoring service, you would have noticed the activity much faster than if you were only obtaining your credit reports annually. With over 10 million Americans falling victim to identity theft crimes annually, it’s no wonder we are willing to pay for services like credit monitoring.

Most credit monitoring services charge a monthly fee between $10 and $15, with the price dependent upon the level of monitoring you receive.

Information Provided by Credit Monitoring Services

Each credit monitoring service offers information for a fee; although the exact information provided and the price you pay for it may differ slightly between companies.

Most credit monitoring services give you access to your credit score, although some may only provide the FICO score and others might provide access to all 3 of the different types of credit scores that exist. FICO is the score most commonly used by lenders to determine an individual’s credit worthiness.

Credit monitoring services provide identity theft reimbursement coverage, with limits between $15,000 and $25,000, depending on the service you use. This means if you become a victim of identity theft while subscribing to the credit monitoring service, you will not be required to pay for expenses that are a result of the theft up to the amount of coverage you have.

Some credit monitoring service providers offer a range of tools that help you analyze your current credit situation, and how you can improve it. Online based forms let you predict what effects applying for a loan might have on your credit score, or the effect of paying off a credit card. These tools are valuable when you’re trying to improve your credit score as it gives you a good idea of the activities that will result in the largest increase in your credit score.

Some credit monitoring services are provided directly through one of the three major credit reporting agencies- in which case you will only have access to that particular credit report. Other agencies provide access to all three reports, and give you unlimited access- while some only update your credit reports every thirty days.

You’ll be alerted if the following activities occur to your credit report, as these activities could indicate fraudulent activity if you haven’t done something to cause these alerts to occur yourself:

* A new account is opened
* A company makes an inquiry to your credit report
* Your address is changed
* If Public Records are added
* Any existing account changes information

The Value of Credit Monitoring all 3 Reports

You may find that you can pay a dollar or two less each month for a credit monitoring service that only provides monitoring of a report through one of the credit reporting agencies. If you think this is enough, you may be wrong!

Consider the following scenario: You have credit monitoring on your Experian report. A thief applies for a new luxury car at a local car dealership, and the car dealership pulls your report from Equifax. You would not receive an alert of the Equifax report inquiry with a monitoring service that only monitors Experian reports.

You would not see the fraud until the car is approved and shows up a month later on your credit report as a new account, and the thief is driving around with the car!

Having credit monitoring on all three of your credit reports would alert you to the inquiry of your report before the account is approved- and you could take action before it goes any further.

Applying for a small business credit card online has now been made easier thanks to the Internet.

Gone are the days when a person has to personally go to the offices or agents of credit card companies to apply for their business credit cards and waste precious time and wait for their turn to be entertained.

Small business credit cards are a boon to shoppers in general particularly to those who are too busy to scout for goods and services in different locations in their area. Possession of a credit card means more shopping convenient and security because one no longer has to carry cash in his possession.

There are plenty of credit card companies where one can apply for a business credit card online. However a person should scrutinize the offers being made by these credit card companies to avoid being taken for a ride and suffer the consequences in the end.

A person who applying online should read the policies of the credit card companies not only as to interest rates but as to surcharges and the grace periods for delayed payments. Some offer grace periods for unpaid credit but the surcharges they impose are way too high. It would be advisable to get one small business credit card that would answer all the spending needs of a person.It will enable the person to have more time scrutinizing the company and its rules and regulations.

It is always good to be informed of all hidden charges and policies which may prove disadvantageous to the applicant. This enables him to make an intelligent decision whether to continue with his credit card application or whether he should choose another company that fits his needs as well as his financial position.

Applying for a business credit card online may be easy but take note of the very good offers these companies are making. Most often these companies will offer very low interest rates to lure those applying for business credit cards online. In the end they will realize that the very low interest rates are good for the first three or six months only and the succeeding rates are enough to keep a person bankrupt just paying them off.

He may be getting great benefits including the non-payment of annual fees for the first year as well as very low interest rates for a certain period. However, he should look at the overall benefits and disadvantages of owning such a credit card. The process of applying for business credit cards online is quite easy because the sites provide clear instructions on how to go about the application. However, the hardest part is getting the real lowdown on what the credit card company really offers.

Free Credit Repair TipsHere is a list of free credit repair tips everyone should know.

The credit bureaus are nothing more than companies which keep records of your credit. That is it. The government or no body has any control over them. There is absolutely no reason to fear them. If you need to contact them for any reason, the addresses are below:

EXPERIAN
P.O. Box 2002
Allen, TX 75013
(888) 397-3742


Trans Union Corporation
P.O. Box 1000
Chester, PA 19022
(800) 888-4213


Equifax, Inc.
P.O. Box 740241
Atlanta, GA 30374
(800) 685-1111


The credit bureaus are required by law to send you a copy of your credit report if you were denied credit at anytime within the past 60 days.

The only legal items you need to get a copy of your credit report is your name, your social security number, and the mailing address where you want the reports to go.

Do not send or give the credit bureaus any additional information they are not requesting. There is no need for them to have it, and it could affect you in a negative way.

Another reason to keep an eye on your credit reports is your credit score. The bureaus will not release exactly how they calculate your credit score. But, we all know a higher score is better. Well, now for the reasons. Lenders are going to start going towards a credit score lending type of system. This would mean that the higher your credit score, the less amount of paper work you will be required to provide and fill out.

Since the credit bureaus are just data collection agencies, they are prone to mistakes. If there is a mistake on the reports you get, just write a dispute to the credit bureau, stating your dispute, what proof you have, and how you want this error corrected. If it is an honest mistake, it will be corrected very quickly.

If the credit bureau can not verify the discrepancy, they must remove it. This can actually work in your favor as companies may not have any records going back that far.

Send your dispute in during a busy time of the year. From the beginning of November, until the end of November is very busy for the credit bureau. People are out Christmas shopping and applying for credit. If you send in a dispute then, the need to process it soon, but are very busy with the volume of credit applications and reporting. If they can not get to your dispute in time, the item must be erased from your credit report.

Those are a few of the free credit repair tips, which can help you in repairing your credit. You can fix your credit yourself, if you have the right tools. And, using a few of these free credit repair tips can lead you in the right direction.

Credit repair leads can work for both the consumer and for the agencies. Agencies are always looking for more people with a need of credit repair for them to assist. There is normally a list of names available for credit repair companies to use to offer their services. And, on the flip side, credit repair leads can also be used by consumers looking for the credit repair agencies. If you are in a bad position financially, especially with your credit score, rating, and credit reports, you can check out one of the credit repair lead services and get a list of agencies ready to assist you.

The focus of this article will be for the consumers. People from all walks of life run into credit trouble every now and then. And, it may not ever really rear its ugly head until you go to make that purchase. If you are looking for a house or new car, you will need to qualify. And in the process of qualifying, you will have you credit reports run. This is when the credit problems will appear. So, let’s take care of it before it even gets that far.

Credit Repair LeadsTo even determine if you need help with your credit, I would get a copy of your credit report from all three of the credit bureaus: TRW, Trans Union, and Equifax. This will allow you to review your reports and see if you need to go and look for credit repair leads.

If you find anything odd, you may be able to fix it yourself. It may take a little time and effort, but it can be done. If you really do not feel like trying resolve this dispute yourself, then you can look for a credit repair company. These types of companies are normally pretty experienced in this line of work, and can help. But, be careful. There are some companies just looking to take your money. This is definitely one of the benefits of trying to handle this situation yourself.

Once you go through your credit report, if there is a discrepancy, you will need to write a nice, professional letter to the appropriate credit bureau. Explain to the credit bureau what the dispute is about, what proof you have, and what you would like the outcome of this correspondence to be. This is exactly what the company you get through the credit repair leads will be doing for you, so why not just do it yourself?

Keep a file of everything you send, and of everyone you talk to. This will help out down the road. If it really is an honest mistake, the credit bureau will correct the problem fairly quick, and make this change to your credit report. When you run your credit reports again, this change will now be updated.

Whether to use a credit repair company or do it yourself is something you will need to decide upon. But one thing is for sure. With your clean credit report, you have accomplished 2 things: not needing a credit repair company and getting off of the list of credit repair leads.

Credit RepairIn this credit repair article, I am going to give you a step by step method of repairing your credit. You can of course, hire someone to do this sort of thing for you, but you can also accomplish this yourself just as easily.

Order your credit reports: You need to order credit reports from all three locations: TRW, Trans Union, and Equifax. Your credit should get reported to each, but not always. This ensures you can review each item on each report for discrepancies.

Organize yourself: This will be set up to track your correspondence with the credit agencies. You should have a file cabinet, folders, and a copy of the credit reports (try not to write on the originals). Make a copy of everything before you mail it out and place it in a folder.

Analyze your credit report: Each report will have codes associated with the items. These codes stand for something against your credit. If you have one or more of these codes, this will have a negative impact on the credit rating. Highlight these in a highlighter for reference later.

Write your disputes: Do not use a form letter, or any type of generic letter you find in the latest books out. These are spotted right away, and will draw undo attention to your requests. Do not lie in your dispute, and always state you are challenging the item as “not mine” or “not late”. You would also like to tell the agency your required outcome of this dispute. Do not sound like an expert, or repeat something you read in a credit repair article. This may get your information rejected by the checker before it even has a chance.

Send in your dispute: Once you have a decent typed letter about your dispute, send it in. By law, the credit agency must investigate all disputes, which are deemed irrelevant or frivolous. This is why you need to get past the checker person.

Get a response: You will get some sort of response. It can be anything from your dispute is now being investigated, to a letter asking for more information, to a rejection letter based on timing, or even a rejection letter based upon the fact the credit bureau believes you are trying to manipulate the system. Depending on this letter, will determine what is done next. If you do not get a response at all after 60 days, write another dispute.

See results: Get another copy of your credit reports and compare this against your original reports. You should see a difference. There will be updates to the items you disputed, or the items may be gone completely. Ensure you agree with the comments of the credit bureau.

Settle any unpaid debts: If you still have any unpaid debts, you should really try to settle these. This is a good indication to the credit bureaus you are making a substantial effort to clean up your credit.

The above list is a good legal way of helping to repair your credit. I put together this credit article to show you there are some free methods of returning your credit rating back to normal. If you need to refer back to this credit repair article for the steps, feel free. It will definitely guide you in the path to getting your credit repaired.

Chase provides millions of Americans with credit cards. As a leader in the credit card industry, this company strives to meet the various needs of its cardholders. One of the ways that Chase does this comes in the form of options. Chase has devised a program that allows customers to choose their rewards. With the Chase Freedom Cash Visa Card, cardholders have the opportunity to select from a vast array of rewards, including cash back, airline miles, gift certificates, and more.

Features of the Chase Freedom Cash Visa Card

With the Chase Freedom Cash Visa Card, cardholders will earn 3% cash back on each dollar spent at a variety of designated merchants. These places include gas stations, grocery stores and quick service restaurants. Many of these stores, such as Dunkin Donuts and 7-11, are common shopping locations. Cardholders will earn 1% cash back on all other purchases. Once consumers have earned $50 in rewards, they will be able to redeem a check for that amount. They also have the option of building up their rewards. If they wait until they have earned $200 in rewards, they will receive $250 cash back. That is an extra $50 bonus for waiting.

Unlike some rewards credit cards, the Chase Freedom Cash Visa Card has no annual fee. It offers 0% APR for the first six months. For those with excellent credit, the regular APR of the Chase Freedom Cash Visa Card is relatively low for a rewards card. Customers with less qualifying credit may receive a higher interest rate.

The Flexibility

The Chase Freedom Cash Visa Card offers customers a flexible rewards program. Cardholders can switch, at any time, from earning cash back to receiving other rewards. If they choose to build up points, they can notify Chase and change easily. Through the points program, the Chase Freedom Cash Visa Card allows customers to earn three points for each dollar spent at eligible locations. Like the cash back program, these merchants include well-known gas stations, grocery stores and quick service restaurants. Cardholders will also earn one point for each dollar spent on purchases at other locations.

Some of the rewards available through the point system include airline flights, merchandise, hotel stays, gift certificates and car rentals. Rewards can be earned starting at 1,000 points. When cardholders choose to redeem their points, the process is easy. They can redeem their points for rewards online. They may also call the number on the back of their Chase Freedom Cash Visa Card.

The Value in Rewards Cards

Credit cards that offer reward programs are rising in popularity. Customers appreciate the chance to receive benefits for using their credit card. They can choose among cards that offer airline miles, cash back, gift certificates, and more. With the Chase Freedom Cash Visa Card, they have all of these options available to them in just one card. With this selection of rewards, cardholders gain more control in choosing their benefits.

Chase works continually to provide its customers with the options they want and the credit cards they need. With the Chase Freedom Cash Visa Card, customers can choose which rewards they wish to receive. And as their lifestyle and preferences change, they can adjust their rewards. From cash back to airline flights, the Chase Freedom Cash Visa Card allows customers more options than ever before.