



By N2H

Recent Articles

Why You Must Use A Business Credit Card

November 27th, 2007 by Shenron

Having a business credit card is a good option if you want to separate your company expenses and your own expenses. Many small business owners find it hard to keep their cash flow separated because they’re using one credit card for pay their own expenses and their company expenses.

When you used one card for two functions, you’re kind of found it difficult to keep them separated, especially when you need to write down each credit report from your own credit card into your business accounting. You will spend more time to categorize which expenses belong to your small business and which one is not.

By having a business credit card, you don’t have to do that anymore, because you’ll receive different reports of credit cards at the end of the month. You could easily write down your business expenses in your accounting books or software. Not only that, you could easily keep tracked what are the expenses that you have when you use your business credit card without struggling to find out whether you buy it for your business or for your personal expense.

There are many good reasons that make the small business owner to get the business credit cards. One of them is keep their own cash and the business cash separated. As this will help them save more time review the monthly credit card report and calculating the tax.

The other reason is they want to build a good credit report for their company. If they have a good credit report, the clients would likely to trust them and their bank would likely to give them more loans to expand their business. This can’t be happen if you use your own credit card to build a good credit for your business. Even though you have a very good credit report by your own name, it doesn’t have any relationship with your business credit report.

But, your business credit card will get a huge impact from your credit. If you have a bad credit history, you’re likely doesn’t receive enough credit limit for your business credit card. It’s because as the owner of the company, the bank wants to know your credit history first before they can give you your business credit card. Maintain a good credit report will help you to get a high limit for your business credit card.

Building a good credit report will help you dealing with the bank when you need loans for your business. The bank most likely to give you the money you need if you have a good credit, so they don’t have to worry whether you can afford to pay the loans on time or not. Also, you could prepare a good credit for the next improvements of your company by secure the business loan that you’ll make.

Posted in Business Cards | | 0 Comments

Balance Transfer Fees

November 20th, 2007 by Shenron

Consolidating all your bills onto one credit card is an advantageous way to pay all bills with one payment, provided you understand what the associated balance transfer fees are regarding the balance transfer card. When you choose a credit card company to use when consolidating, pay special attention to the fees and percentages. Many times, a card company will offer 0% for the first twelve months. Though this is appealing, be sure to read all the details. Some cards will offer the first twelve months at small balance transfer fees, or none at all, and will then jump when that year is over. Choosing a credit card company to go with when using balance transfer will take some time and research.

There are many card companies out there who want to help you with your finances and specialize in balance transfers. Look for the cards that have the lowest interest rates and the lowest penalty for late payments. It is important to understand the fees that are associated with the transfer account so no surprises will arise a few months down the road. Usually, the major credit card companies, such as Discover, Chase and Citibank, will offer a great rate on balance transfers. These large companies will take the time to explain all fees that will be incurred.

Understand and compare the transaction fees. These will usually range from 2 to 4%. Be sure that this fee is fixed and will not go up after the first year. Annual fees are usually not an issue, especially if you are choosing a card with a major credit card company that you already have an account with. For existing customers, some companies will reduce rates and possible waive balance transfer fees. Always take the extra time to read the fine print so you know what to expect. No matter what company you choose to do business with, there will be a fee. Many companies treat a balance transfer the same as they would a cash advance. You will pay a percentage on the account balance. Choose the best rates and make sure that they will not fluctuate after the one-year probationary period ceases.

The important part of making sure your rates and payments stay low is to ensure that all your payments are made on time. Every company that offers balance transfer will penalize customers for late payments. The penalty will vary depending on the company, but it is best to avoid any additional balance transfer fees and charges by making payments on time. If a payment is late, there will be a fee and your rate will increase. Prompt payments are essential when using balance transfer with any company. This will keep your account in good standing and cause you to avoid any over the top fees.

Debt consolidation is possible with balance transfer provided you understand the terms and associated balance transfer fees. Always discuss these details with customer service before agreeing to open a transfer account. Fees and rates are not always available as advertised, so taking the time to inquire about them will be advantageous in the long run. You will certainly see the benefits of finding out this information when you see how it impacts the bottom line. These companies want to simplify your life by combining your debt into one payment. Make sure that payment is on time and you will be on the road to a successful consolidation. Balance transfer fees play a huge role in how successful you can be in using a balance transfer to pay off bills. Be sure to take this into account prior to making any important decisions.

Posted in Credit Cards, Credits Consolidation | | 0 Comments

Fico – Credit Scores

November 20th, 2007 by Shenron

If you have ever looked at your credit score or looked into what a credit score is you may have come across the term Fico. There are different ways or variants when it comes to credit score reporting. The Fair Isaac & Co developed Fico, which is used by a significant number of lenders, mainly mortgage lenders. It is used to determine the risk a potential borrower may pose when it comes to defaulting on the financial obligation of the mortgage. This serves as the primary consideration that potential lenders use when they look at the profiles of different consumers.

Fico scores can be exceptionally important when you start the process of getting financial assistance for the purchase of your home. It also is important for refinancing and second mortgage options. This score is a number, which is used to represent risk or lack thereof. A solid number can mean a wide variety of benefits; your choice of lenders, options, even interest rates can be affected by it. This is why so many consumers are taking their score so seriously in this day and age.

A good Fico score could earn you a lower interest rate on your mortgage saving you thousands of dollars over the term of your financing. It can also entitle you to more financial assistance. This can give you the opportunity to not only take out the mortgage but also handle other initial household expenses easily. The freedom of being out from under a large mortgage is something that is being experienced by people all of the time.

The next question you might be asking is how exactly is this type of score calculated? Your fico score is generated through the use of a software application. Your credit information is plugged into the software and it generates the score. The score may change based on the credit reporting agency that is used since they may use different software applications. It is important to find out the differences in these companies, so that you can have a firm understanding of what your score might look like.

The percentages however that determine your score are generally the same however, thirty five percent of the score is given to your payment history. This includes the accounts that have been paid as agreed, delinquent accounts, and any negative public collections or records. Thirty percent is given over to what you owe, how much, what types of accounts, how much of the revolving credit lines you have used, amounts owed on installment loan verse the original balance, and the number of zero balance accounts. Fifteen percent is made up by the length of your credit history. This includes total length of time tracked by your credit report, length of time since account optioning and the time since last activity. The last twenty percent is divided up between types of credit and new credit. Type of credit includes the total number of accounts and types of accounts. It is important to note that a mixture of account types usually produces a better fico score. New credit includes recently opened accounts, recent credit inquiries, time since recent inquires as well as if you are reestablishing credit.

Your score, the compilation of all the aspects of your credit history determines if you are a risk or not when it comes to mortgage lending. Credit scores are available with your credit report, though they do not fall under the free credit report allowable by law, they can be added to it for an additional fee. It is extremely advisable that you look into checking out the score so that you can take measures to improve it if necessary.

Posted in General | | 0 Comments

Dispute Experian

November 19th, 2007 by Shenron

Many people check their credit every year and discover that they have a reason to dispute Experian or one of the other reporting agencies. Some of them donâ€™t know what to do about it, though. One of the three major consumer reporting agencies is Experian. Occasionally, you will find something on your credit report that is an error or that you have already paid off. This is a good reason to dispute Experian and have them remove that particular item. This will continue to negatively affect your credit rating until it is removed. Disputing a consumer reporting agency isnâ€™t very difficult if you have all of your paperwork in order. You will need to be able to contact all three of the major agencies as if you remove something from Experian, you need it removed from the other two as well.

The first step in disputing Experian is to find out what the problem is. The easiest way to do this is to send them a copy of the report you have from them. You will need to highlight the errors and write a letter telling them what exactly is wrong. Maybe you already paid that particular bill, or maybe it isnâ€™t even your bill in the first place. You should include a letter explaining everything in great detail and also send in copies of all bills relating to that error. Something you should do is send everything to Experian certified mail and request a copy of the receipt when they get it. This will make it easier if they say they havenâ€™t received your letter of dispute. If you have negative accounts on your credit report that donâ€™t even belong to you, these are very easy to get rid of. Many people have the same first and last name so by providing proof that you are not responsible for a bill, the matter can be cleared up very easily.

Then you dispute Experian, they have 30 days to review your dispute and make any necessary changes, it usually doesnâ€™t take this long and you can check your progress whenever you like. Experian is required to send all the corrected information to the other major consumer reporting agencies but it is a great idea to send that information to them yourself also. When it comes to credit, itâ€™s a good idea to have all of your bases well covered. If not, you could find yourself in a sticky situation where itâ€™s difficult to make things better.

Occasionally, you may have to dispute Experian by having them add accounts. If you have had outstanding credit with your local credit union but for some reason it isnâ€™t showing up on your credit report that could seriously affect your credit rating. Everyone will find your late payments but it couldnâ€™t hurt to ensure your positive payments are out there also. This can be very important for people just beginning in the credit world. Having no credit can be just as bad as having bad credit. In the end, they both put you in a situation where it is difficult to get a good interest rate on loans or get approved for a simple line of credit.

Disputing Experian or any other consumer agency is an easy but time consuming process. A special file or place to keep all of your credit related paperwork and bills make this process a lot easier. Most people who work for Experian are understanding when there is an error and they will do their best to help you out. It is up to you to take advantage of this and make sure that things are rectified.

Posted in Credit Report | | 0 Comments

TransUnion.com

November 16th, 2007 by Shenron

TransUnion.com offers a simple and effective way to receive your credit report. Credit reports issued by TransUnion are accurate and up to date. The employees at TransUnion pride themselves on their ability to provide the services for you to obtain your credit report with no hassle at all. This company has been working with clients for more than thirty years, providing the best financial services available. Building positive relationships with clients is one thing that TransUnion takes very seriously. You can be sure that your TransUnion Credit Report will contain all available and correct information. From this information, you can make sound financial decisions that will have a positive impact on your financial future.

TransUnion offers free credit reports to individuals that qualify. To obtain a free credit report, you must meet a certain criteria. These are maintained by the Fair Credit Reporting Act and state that you are entitled to a free credit report from TransUnion if you have been recently denied an action related to credit, insurance or employment, you have been denied a residential rental or have been required to pay a higher amount than normally required, you are unemployed but will be seeking employment within the next 60 days, you receive public welfare assistance or you believe your credit report issued by TransUnion has provided inaccurate information.

The Act also allows every resident of the United States to obtain one free credit report per year. TransUnion is always happy to offer assistance if you are unsure about whether you can get a free report. For individuals that desire additional credit reports and are aware that they are not eligible for the free report, TransUnion will provide a copy of your current credit report. To receive a copy, you may make the request by phone or by mail.

To speak with TransUnion directly about ordering your credit report copy, simply call 1-800-888-4213 and someone will be available to assist you. Ordering by mail can be done by viewing the order form at Transunion.com, or by notifying TransUnion in writing at TransUnion LLC P.O. Box 1000 Chester, PA 19022. Once you contact the company, they will quickly send you the information that you need.

TransUnion will provide an accurate credit score along with your credit report for a fee of $5.95. Many companies offer credit reports, but some are unable to provide you with your accurate credit score. This figure is important for financial decisions, such as securing loans. TransUnion is a reputable and responsible company and strives to offer the best services to their clients. Personal information is always secure and will not be shared with any other company or credit reporting agency. This is a very important consideration because of the ever constant threat of identity theft in todayâ€™s world.

TransUnion also offers services that monitor your credit report and will notify you of any significant changes within a 24-hour time frame. This adds to your personal and financial safety. TransUnion is one of few companies that will keep you up to date and informed of your credit report and ratings. Credit monitoring is free for the first month, and then is available for a small fee thereafter. Though this small fee might seem like an extra cost, it is absolutely worth it to continue getting the very important information.

For an accurate credit report and a company that cares about you personally, not just as a client, TransUnion is the way to go. They have made their way in the business by providing the best information and quality service to all of their customers.

Posted in General | | 0 Comments

« Previous Entries

Recent Articles

Why You Must Use A Business Credit Card

Balance Transfer Fees

Fico – Credit Scores

Dispute Experian

TransUnion.com

Categories

Archives

Resources