|
|
|
First Credit Card
Hazards
|
It seems like every time I check my mail there is at least one or two
pre-approved credit card applications. I’m sure you get them, too. The
thing is, you can have terrible credit and still they flood in. Beware
if you just filed bankruptcy because you will get more of them then
you know what to do with!
Credit card debt is all too easy to get into--over and over again. We
don’t feel like we are spending real money until the bill comes, and
then it’s too late. The credit card companies know how to make it very
tempting to fall back on any good habits we’ve created and just spend
away. It’s hard to get away from, but we have to resist temptation.
When establishing good credit, one of the things we’re told to do is
to get a credit card and then use it to spend wisely. Experts advise
us to pay our bills on time and not to exceed the credit limit. However,
no one really talks to us when we get that first card about how easily
and quickly we hit that limit, or how easy it is to miss that first
monthly payment. Once you get behind, it can be really hard to catch
up. Oftentimes, credit cards come with introductory interest rates that
are nothing or very low. But many times, those rates soon change and
you can find yourself with a full balance on your card with an 18 or
20 percent interest rate! That interest rate can then put you over your
limit, if your not paying at least the minimum payment, now making you
susceptible to over-the-limit fees. Before you know it, you are getting
bad reports on your credit reports for credit card debt on a card that
you haven’t even had very long.
Unfortunately, when times are hard, abusing credit cards is all too
easy. When the economy is bad and cash is tight, you might find yourself
putting your daily living expenses on your credit cards. If there is
any kind of pattern like this in your credit card spending, it can fill
up your credit reports pretty quickly. When you are not making your
payments, the credit card companies do inquiries to verify your address
or other information. Every time someone makes an inquiry on your credit
report, it makes you look like even more of a high risk, further worsening
your credit report. All the credit card debt on your report, even if
some of it is good, can make you look high risk for car loans or mortgages
– especially if any of those cards hold high balances. Even worse, that
bad credit report can keep you from renting an apartment or getting
a job that requires a background check.
As tempting as it is to pay with plastic, choose the “debit” option
next time and keep your future in mind. It’s normal to risk it all when
times are tough, but doing so creates more problems later that can take
years with a credit counselor to fix. Credit card debt has long time
risks, but if you use credit cards wisely, you can build credit that
brings rewards instead.
About The Author:
Peter Dobler is a veteran in the IT business. His passion for experimenting
with new internet marketing strategies leads him to explore new niche
markets.
Read more about his experience with credit and mortgages; visit
Credit
Score Information Directory
Other Credit And Real Estate Related Information
American Grant
Provider Directory
The
Federal Government and Private Grant Foundations issue billions
of dollars in grant money to a variety of groups each year.
Grants are awarded to individuals each and every day from all
walks of life, with large and very small bank accounts, for
an ever-increasing array of purposes.
Grant programs are not Loans.
You decide how much you need. As long as the amount is lawful
and you meet the Foundations and Government Agencies Requirements,
the money is yours to keep and never needs to be repaid. This
grant money is non-taxable and interest-free!
Get more information
|
Do You Have
Bad Credit?
Don't give up!!
Our list of lenders and credit card
companies are willing to give you another shot. They realize
that good people can have bad credit.
Whether you have
had minor problems in the past or even bankruptcy, our lenders
are there to help you not only receive a loan, but also to re-establish
your credit.
Are you ready to
get your second chance?
Get more information
|
Mortgage Loan Tips
"Excellent
for first time buyers, move-up buyers or refinancing. I cannot
recommend it highly enough - this should be required reading
for anyone who wants to get a loan."
M. Klinger, Real Estate Broker
Aventura, FL
Get more information
|
Credit Repair
- Erase Bad Credit Now!
Are
you tired of Bad Credit? - High Interest Rates? Disapproved
Credit?
Use my experience today, and I will show you
how to get every negative item Removed from your Credit Reports
within 1-3 Months. Guaranteed!
Get more information
|
Credit Secrets
"How
to Clean Up your Credit Report and Wipe All Your Credit Card
Debts in Record Time!"
Take a moment to imagine this...
On any given day you could be receiving new pre-approved credit
card offers in the mail, you could able to purchase a new home
without worrying about qualifying for a mortgage, financing
for automobiles and boats could be readily available to you,
and...you could have piece of mind knowing that should an emergency
arrive you would have the resources to take care of you and
your family.
Get more information
|
|