Here’s a rundown on the best credit cards of 2012

Zero Percent Credit Cards

Credit card providers are offering a lot of zero percent APR promotional offers. This allows you to have an extended period of time – usually one to two years where you will not have to pay any interest charges whatsoever! The danger with these cards is that if you have a balance on your account that hasn’t been paid after the initial zero percent period expires, you will have to pay interest on those balances. The interest that you will have to pay on the outstanding balance on these types of credit cards can be quite substantial.

Best of the bunch: Citi Platinum Master Card – They have 0% on balance transfers and 0% interest rate for the first 18 months that you have the card.

No Fee Credit Cards

A lot of credit card companies are now offering cards that no longer have fees, such as the annual fee that you have to pay for using the credit card.

No Foreign Transaction Fees

For people who travel to other countries, this is a great option, Many credit cards charge transaction fees when you use their cards in foreign locations. One credit card company, Discover, is not offering no fees for transactions outside the USA.

Source: Smart Money

No Balance Transfer Fees

This is a common one. Several credit card companies will allow you to avoid any balance transfer fees when you get their credit card.

Low Interest Rate Credit Cards

These are credit cards that have a lower than average interest rate that they charge. The average rate today is about 12 or 13%. Yes, some credit card companies will charge considerably more in interest charges than that as well. But some charge less. In some cases, much less.

Best of the bunch: First Command Bank Platinum Visa Card – This credit card charges an outstanding 6.25% in interest fee for outstanding balances.If you are late on a payment, credit card companies can raise your interest rate only if you are 60 or more days late on your payments. So the interest rate being offered by First Command is truly worth considering.

Cash Bank Credit Cards

Look for at least 1% cash back on all  purchases and more than that on select purchases.

Best of the bunch: Currently the American Express Blue Card offers up to an amazing 6 – Also, the Chase Freedom Visa Card is offering up to 5%

Gas Credit Cards

These types of cards allow you to get points when you purchase gas. With the price of gas where it is today, there are more people than ever before showing interest in these types of cards.

Best of the bunch: Platinum Rewards Card – Pentagon Federal Credit Union. While this gas credit card may sound like it’s only for military personnel and their families, it’s actually available to everyone. Why is this card so special. It offers 5% cash back on gas purchases! As we mentioned, with the price of gas where it is today, there are more people than ever looking for gas cards. If gas is costing you $50 for each tank full and let’s say you get a tank of gas every week. That would mean that you would be spending $2600 per year on gas. If you could get 5% back, that would be $130 cash back every year! Quite impressive!

You might also consider getting the American Express Costco card. This gets you 2% back on gas at all gas stations and then additional discounts when you buy gas at Costco as they tend to have lower prices. While this doesn’t compare to the Pentagon card, it’s still an option worth considering.

Small Business Credit Cards

When looking for a small business credit card, you want to look for those credit cards that offer you the most rewards.

Best of the bunch: Capital One Spark Cash Card will offer you 2% back on all purchases. For businesses that run their purchases through credit cards, that 2% back can really add up quickly.  An alternative would be the Bank of America Cash Rewards for Business. This credit card will offer you up to 3% cash back on selected categories.

If you are looking for a credit card, these would be among the best credit cards for 2012.

Best Credit Cards of 2012 is a post from: Visa Card Appplication

The overriding biggest issue hat jumps off the page has to due with the amount of debt that college students now carry. The amount of debt that college students carries is alarming, and continues to rise. Here are a few statistics:

• In 2004, the average college student had only $946 in credit card debt (Lusardi, Mitchell & Curto, 2010).
• In 2007, the average college senior had a $3000 credit card debt (Cahill, 2007).
• By 2008, the average increased to $3173 (Block, 2009b).
• By 2009, the average soared to over $4100 (Block, 2009a).

That’s a 4-fold increase in the amount of credit card debt that college students carry in just a five year period. That is an incredible increase in debt.

College students are also carrying several credit cards with them.

A decade ago, one in five students had greater than $10,000 in credit card debt (Parks, 1999). Now, fifty percent (50%) of college students have four or more credit cards (Block, 2009b). Lyons & Hunt (2003) found that 30% of students had “maxed out” their credit cards, and had no more available credit. Card use climbed through college as seniors had twice as much debt as freshmen (Nellie Mae, 2007). In practical terms, college students owed 24% of their yearly income in credit card debt (Norvilitis et al. 2003). In just three years, the costs of debt jumped to 30% of student income (Norvilitis et al. 2006). When student loans were added, the average debts for a college graduate are $20,400 (Weston, 2008; Nellie Mae, 2007). The problem compounded as college graduates doubled their credit card debt shortly after graduation (Adams and Moore, 2007).

The most disturbing statistic listed there is that college students maintain a debt load that is equivalent to  24% of their yearly annual income.

Naturally, since the students are carrying large balances, the credit card companies are making a considerable return via the interest charges that the students incur. Why are their so many college students with credit cards? The credit card companies have large campaigns to entice the students to get credit cards.

College students were solicited for credit cards 25-50 times a year (Cahill, 2007; O’Connell, 1994; Susswein, 1995). Incentives included t-shirts and iPods for students to sign up (Block, 2009a).

What college student is going to turn down a free iPod just for signing up for a credit card?

So how can college students obtain credit card even without much in the way of income?

A third of students never discussed the credit card decision with their parents (Block, 2009a). The lenders eliminated income and employment requirements to make credit cards easier to get for college students (Cahill, 2007).

The credit card companies make it easy for college students to get credit cards. By removing income requirements and the need to parental endorsement, college students are free to obtain credit cards easily.

So what are the students using their credit cards for? Very few relied on credit cards for funding college tuition, but most say they would use credit cards to purchase books or supplies.

Are they carrying balances?

…only 9.4% of students paid their credit card in full each month. This left most students (90%) with some indeterminate amount of credit card debt each month, subject to high interest and other charges. In contrast, Robb and Sharpe (2009) found only 38% of students reported a balance subject to interest. Norvilitis et al. (2003) found that only 32% of college students paid off credit card debts in full each month.

So this survey indicated that over 90% of students carry balances, while other surveys showed that “only” 38% reported carrying a balance. This survey had fewer than 1000 respondents, but they were across a wide range of colleges in Texas. So are Texas students carrying more debt than others? Or perhaps, the amount of debt has increased dramatically of late. Either way, it is disturbing to see so many people starting their lives off in debt.

If you are interested, here is the list of questions that were asked of the college students:

What year in school are you presently?

_______

 

What is your major?

• Business
  
• Non-Business

 

Have you taken a course in business ethics?

• Yes
• No

 

Have you taken a course in Business Law or Legal Environment of Business?

• Yes
• No

 

Would you describe yourself?

• Very Conservative
  
• Conservative
  
• Independent
  
• Liberal
  
• Very Liberal

 

Are you male or female?

• Male
• Female

 

Are you presently a stockholder/investor in any publicly traded company?

• Yes
• No
• I don’t know

 

Do you use tobacco?

• Yes
• No

 

Are you currently employed?

• No
• Part-time
• Full-time

 

Are you married? Yes No

 

What is your age?

______________

 

The following questions used a five point Likert scale of:

• Strongly Agree
• Agree
• No Opinion
• Disagree
• Strongly Disagree

 

Describe your views on the following statement: “Corporate Social Responsibility means that a corporation should try to protect the environment.”

 

Describe your views on the following statement: “There are clear and uniform standards of right and wrong by which everyone should be judged.”

 

Describe your views on the following statement: “What is right and wrong depends on individual values and cultural diversity.”

 

Describe your views on the following statement: “Businesses have an ethical duty to care for the environment.”

 

Would you want to work for a company that had been accused of unethical business practices?

• Yes
• No
• Unsure

 

How many children do you have?

____________

 

How many credit cards do you have?

__________

 

How many times do you use a credit card in an average month?

_________________

 

How do you PRIMARILY pay for your education?

• Borrow/loans
• Parents
• Work
• Scholarship

 

What monthly payments do you make on your most used credit card?

• Minimum amount
• What I can afford that month
• Paid in full every month

 

How much is your interest rate on your most used credit card?

• I know for certain.
• I have a general idea.
• I have no idea.

 

How much is the late fee on your most used credit card?

• I know for certain.
• I have a general idea.
• I have no idea.

 

How much is the over balance fee on your most used credit card?

• I know for certain.
• I have a general idea.
• I have no idea.

 

Are you more or less likely to work for a company if you know from your own experience that the company is not ethical?

• More likely
• About the same
• Less likely

 

NOTE: There were additional questions which are not part of this research.

Did you take the test? How did you do? Are you fiscally smarter than a college student when it comes to credit card debt? The amount of college students’ credit card debt is alarming. There needs to be a greater emphasis placed upon educating today’s young people about the potential issues surrounding credit card debt.

source: ijbssnet.com

College Students Credit Card Debt is a post from: Visa Card Appplication

Today, more than anytime in the past 75 years, there are a lot of people with bad credit scores. Those people have been seeing their opportunities to borrow money dwindle. When the real estate market collapsed in 2008, many credit card companies reigned in the levels of credit that they were willing to offer to people. In some cases, they took that further — they eliminated the credit options for people. That left those people in the unfortunate situation of basically just having cash as an option. Of if they really needed a loan, they were left with lenders looking to offer loans to people with bad credit — sometimes referred to as payday lenders.

Now that trend amongst traditional lenders is starting to change.

But as financial institutions recover from the losses on loans made to troubled borrowers, some of the largest lenders to the less than creditworthy, including Capital One and GM Financial, are trying to woo them back, while HSBC and JPMorgan Chase are among those tiptoeing again into subprime lending.

Credit card lenders gave out 1.1 million new cards to borrowers with damaged credit in December, up 12.3 percent from the same month a year earlier, according to Equifax’s credit trends report released in March. These borrowers accounted for 23 percent of new auto loans in the fourth quarter of 2011, up from 17 percent in the same period of 2009, Experian, a credit scoring firm, said.

So as the economy brightens, lenders are reaching out to those people with poor credit and offering them the opportunity to obtain a credit card. As the article indicates, more than 1.1 million new credit cards were offered to people who have poor credit in December 2012 alone. This will afford these people a much greater opportunity to operate in today’s society.

If you are among those people who have been given the opportunity, we suggest that you take it slow.

Consumer advocates and lawyers worry that the financial institutions are again preying on the most vulnerable and least financially sophisticated borrowers, who are often willing to take out credit at any cost.

“These people are addicted to credit, and banks are pushing it,” said Charles Juntikka, a bankruptcy lawyer in Manhattan.

We agree, a lot of people are addicted to credit. If a lender offers you the opportunity to borrow money, you should proceed cautiously. Once you have a credit card, you do not need to borrow the entire credit limit. In fact, we strongly suggest that you only borrow what you can afford to repay each month.

What most people do is to make the minimum payment each month. That means that you will be paying (likely) a considerable amount of interest for an extended period of time until you pay off the item(s) that you purchased. When people are addicted to credit, they might not actually pay for the item for years due to their small monthly payments and the associated interest charges.

Those people who have poor credit may be fortunate enough to be getting credit cards now, but since they have poor credit, they will likely pay higher rates of interest than those people who have good credit. So while the bad credit borrowers may be getting new credit opportunities, if they aren’t paying off their credit cards each month (that is, if they are carrying a balance) and paying high levels of interest, it’s the lenders who are benefiting, not the borrowers.

The banks, for their part, are looking to make up the billions in fee income wiped out by regulations enacted after the financial crisis by focusing on two parts of their business — the high and the low ends — industry consultants say. Subprime borrowers typically pay high interest rates, up to 29 percent, and often rack up fees for late payments.

If you have poor credit, you should do everything that you can to improve your credit score. Obtaining credit cards for bad credit might not be the best option for you, unless you intend to behave fiscally responsibly – that is, to pay off your credit card balance each month. If you do this for several months in a row, you will see your credit score rise. Once is rises, you will be able to drop your credit card for bad credit risks and obtain a more traditional credit card (presumably) with better terms.

source: nytimes.com

Credit Cards for Bad Credit Risks on the Rise is a post from: Visa Card Appplication

I opted for a new Chase United MileagePlus Explorer Visa card (the names roll off the tongue, don’t they?) whose enticements included 50,000 bonus miles, priority boarding status, two passes to United Airlines’ airport lounges and waiver of the $95 annual fee for one year.

The writer of the article selected that card and then received email messages from people who applied for the same card only to be told that the annual fee was $395, not #95. The reason for this? They were being “upsold” a similar, but considerably more expensive travel credit card. The more expensive card did offer more options, like a discounted annual membership to one of the airlines’ travel clubs. If you travel a lot and like to take advantage of these clubs, this could be worthwhile. Conversely, if you travel rarely, this added expense might well be a big waste of money for you.

It seems like new travel rewards credit cards seem to hit the market every single day. There aren’t that many various card offers, but it certainly does seem like there are. In fact, there are more cards being offered now than there typically are.

“I’ve been in this business a long time and there definitely have been times of very aggressive marketing of airline and other travel cards,” said David Gold, the general manager of Chase Card Services. “We happen to be in one of them now.”

Yes, the credit card companies are being aggressive right now. What they are trying to do is gain market share against the industry leader, American Express, and brand loyalty.

Some people will obtain these new credit cards, take advantage of the discounted promotional deals and then once the promotional period expires (usually one year) and the rates go back to their normal levels, these people will then cancel the cards and get new cards. This might seem like a good idea, except for the potentially adverse impact to one’s credit score.

“I’m not an expert on how credit scores are measured,” said Mr. Gold at Chase. “but if every month you’re applying for a new card, that’s probably not a good idea.”

Applying for new credit cards regularly can have a negative impact on your credit score. This can even impact those people who would otherwise have excellent credit scores.

There are a lot of travel rewards credit card offers being mailed to prospective customers these days. navigating through them to find the best travel credit cards can be daunting.

source: nytimes.com

Navigating to Find the Best Travel Credit Cards is a post from: Visa Card Appplication

Who is eligible for the Double Miles Challenge?

If you already have a Capital One Venture Card, you can not apply for this offer. This Capital One double miles card offer is open to those people who do not already have a Capital One Venture credit card.

Which credit cards are eligible for the Venture Double Miles Challenge?

You can submit information from any major U.S. based consumer travel rewards credit cards (Visa^®, MasterCard^®, American Express^®, and Discover^® ). A slightly more involved definition of a travel rewards credit cards would include all credit cards that allow the cardholder to earn rewards that can be redeemed for travel purchases (that includes flights, hotels, rental cars, etc.). There are certain cards that are not included in this promotion. Those would include purchases that were made on small business cards, debit cards, fleet cards, private label credit cards, corporate cards, prepaid cards, and on any Capital One credit cards.

What do I need to submit as proof of how much I spent last year?

In order to participate in the promotion, you are going to need to submit your 2011 year-end summary statement that you received from your credit card account that you want the obtain double miles from. Naturally, you, yourself, need to be listed as an account holder on the credit card in order to be considered. What is a year-end summary? It is a summary of your annual transactions that you made on the credit card. This is a statement that is provided by your credit card issuer. You can submit the summary report to Capital One either from their website online or you can also submit it by fax. IMPORTANT: They will not accept individual monthly statements. It needs to be the year-end annual statement.

 

Can I submit year-end summaries from multiple credit card accounts?

Sorry, you may only submit documentation from one major credit card, so be sure to submit the 2011 year-end summary from the one you used the most!

Here’s some fine print directly from Capital One’s website:

Capital One Double Miles Venture Card – From Other Airline Miles Credit Cards is a post from: Visa Card Appplication

Why is this happening? The credit card companies are seeing considerable competition for your business and as such have widened their target market. So if you have poor credit, you may still be able to secure a credit card that offers many of the perks that would previously been limited to those people with excellent credit. Who are the credit card companies targeting? There are starting to offer deals to people who have middle-of-the-road credit scores. People who have FICO scores that are between 650 and 699 may not need to resort to using subprime products, like payday loans. They may be able to use regular credit cards. By using typical credit cards, and behaving properly – paying off debts in a timely manner, people who have bad credit scores may (as a byproduct) see their FICO  scores improve.

Here are four credit cards for people with bad credit:

1. Capital One No Hassles Cash Rewards Card

The Capital One credit card has an excellent rewards program. When you use this card, you can get 2% cash back on gas and groceries and 1% cash back on all other purchases. If you carry a balance, you will have to pay an interest rate which varies between 17.9% to 22.9%. The card also charges an annual fee of $39. While this may not seem like a great option for people who have good credit, it is an excellent credit card for people who have bad credit.

2. Orchard Bank Secured Card

The prior card charged a considerable amount of interest. This card is a secured credit card. It only charges 7.99%. If you are unfamiliar with secured credit cards, these cards require that the borrower deposit cash in advance of using the credit card. While this may sound counter-intuitive, it minimizes the risk of default for the lender. This credit card also charges an annual fee of $35 annual fee, but that fee is waived for the first year. While this may not sound like a great deal, if you have poor credit, this card is worth considering.

3. Visa Platinum Preferred Credit Card from Associated Credit Union

This is a credit card offered by a Credit Union based in Atlanta. If you are interested in considering this card, you don;t need to go to Georgia, you can apply online. This card offers an exception APR for people who have a reasonable credit score. If your FICO score is higher than 680, you can qualify for a fixed rate of interest of 9.9%. That’s excellent. If your credit score isn’t as good, but is still above 600, you can get a credit card with an APR of 12%. That’s still not bad. Also note, these are fixed (not variable) interest rates. Another plus is that this credit card charges no annual fee. Furthermore, there is no charge for balance transfers. This card is a winner

These are the top three credit cards for people with bad credit. If you are looking for a new credit card and have a less-than-optimal credit score, you might want to consider filling out a Visa credit card application for one of these cards.

source: money.msn.com

Top 3 Credit Cards For People With Bad Credit is a post from: Visa Card Appplication

Most people are immediately attracted to the idea of a free flight when they are considering which airline miles credit card to consider. In fact, this is probably the case for all credit card offers. When it comes to selecting a credit card, people are more attracted to a free flight than they are to free gas or even free cash. There’s something about free trips that gets people excited. By using any of the cards listed below, you can have a free flight pretty easily. All you need to do is spend money, pay for them with one of these credit cards and before you know it, you will have amassed enough miles to secure a free trip.

Here’s a simple tip. If you live in a particular city that has one major airline, chances are, you are going to be flying on that airline more than most any other. You might want to consider that airline. However, that can really limit your options. There are plenty of credit cards with airline miles as rewards that are more general purpose, That is, you can redeem those miles on most any major airline carrier. So, even if you live in a city that just has one main carrier, we would still recommend that you consider a more general purpose card.

Top 5 Credit Cards With Airline Miles

Here are the suggested, general purpose, best credit cards with airline miles as rewards:

1. Starwood Preferred Guest Card from American Express. Bar none, there is no other credit card that offers as many flexible travel rewards as this credit card does. You can redeem the miles that you earn on this card on more than 30 different airlines. When you redeem 20,000 points for miles, and you’ll get a 5,000-point bonus. What does that mean? It means you can earn a free domestic round trip faster with this card than you would with a card issued by the airline itself. Remember, we mentioned that free trips are the biggest lure for most people. This card gets you free travel more quickly than even most airline credit cards. The card does have a catch though. This card comes with an annual fee. The right now is $65. While this may seem steep, if are a frequent traveler, this card is probably well worth the annual fee.

2. American Express Premier Reward Gold Card. OK, so the first two cards are both from American Express. This card is similar to the Starwood card as you will be able to transfer the miles that you earn to any of several different airlines quite easily. The biggest difference between this card and the Starwood card is that people who use this card will earn points in American Express’ proprietary Membership Rewards program. Oh, and there’s one other huge difference, The fee on this card is really high. If you want this card, you can expect to spend $175 a year. Good news though, Amex will waive the fee for the first year that you have the card.  So what makes this card so special? This card allows you to earn triple points, not only on airfare, but you can also earn double points on gas and groceries. Well worth the expense if you use the card a lot.

3. Chase Sapphire Preferred. While Amex is the top dog when it comes to airline miles, this offering from Chase should not be ignored. This airline miles credit cards allow you to earn Chase’s Ultimate Rewards points. These points can be transferred to miles on United Airlines and several other airlines. You can also earn double points for travel and restaurant expenses. They will even offer you a 7% annual bonus on all of the points that you earn each year. That’s really great. You get free extra miles, just for using the card. The best things in life aren’t free when it comes to airline miles. This card also charges an annual fee. There’s is currently $95, but they will also waive it for the first year you have it.

4. Delta Platinum SkyMiles Card from American Express. Another American Express card. This card is more focused on Delta airlines, so it’s not as general purpose as the others three above.  You can earn 20,000 elite qualifying miles to reach the next level of status in Delta’s Medallion program. Using this card can also speed you through the airport as it offers priority check-in. They will also save you money on bag fees as they offer free checked bags. This card has a sizable annual fee as well. It charges $150 annually. Again, they waive the fee for the first year also. But they do give you something for your $150 annual fee. You can get a certificate entitling you to a free domestic travel companion airline ticket. That in itself, more than pays for the annual fee.

5. Southwest Rapid Rewards Card from Chase. if you really don’t like to try to redeem your miles, then you may want to consider this card. Those people who have this airlines miles credit card will earn Rapid Rewards points. Each of these points is worth $0.016 towards Southwest Airlines’ “Wanna Get Away” airfares. You also earn bonus points. These bonus points may allow you to obtain their Companion Pass. Those people who have a Companion Pass are eligible to get a free airline ticket for a designated person each time they purchase a seat. Incredibly this is also true when the cardholder is redeeming an award. That is really quite the deal! source: businessinsider.com

Top 5 Credit Cards With Airline Miles is a post from: Visa Card Appplication

Typically filling out a Visa card application is a very simple process. However before you fill out your application you need to know which credit cards are actually available. Today, there are a lot of credit companies out there who offer you the opportunity to apply for a Visa card with them. When you complete the application form online, you will often find that those lenders will provide you with a response as to whether you have been declined or approved very quickly.

Visa Card Application Required Info

Normally when completing the application form, the credit card company who you are requesting the card from will require the following information. They will need to know some very basic and some additional information. Some of the basic information includes: your name, date of birth, address where you reside, your employment status, and how much you are earning each year. Included in the not-so-basic information section will include your social security number. Lenders will need this information to run a credit check on you to see what your credit score is.

What’s Your Credit Score?

You’ve probably seen advertisements on television talking about how to get a free credit report. The credit report will tell you what your credit score is. This score is also known as your FICO score. It is important for you to know what you credit score is. In fact, your credit score is the most important determination as to whether the credit card company will be willing to grant you a shiny new credit card to utilize. It is very important to know what your FICO score is. Do you want to find out what your FICO score is?

So what is a credit check? There are three main credit-reporting facilities that track all of your expenditures and how well you make your payments. If you are late in making payments or worse, if you miss a payment entirely, your credit score will be adversely impacted. Naturally, by having done this too often, you ability to secure new financing will be adversely impacted. After all, try to see it from the lender’s point of view. If you were going to lend money to someone and they continually were slow in paying you back, would you be eager to lend them money again in the future? Of course you wouldn’t. It is very important to keep your credit score as strong as you can.

The Visa Card Application Fine Print

However when you do choose to fill out a Visa card application form, whether you choose to fill it out online or based-based form and mail it in, it is important that you read the fine print very carefully. Doing this will help you to better understand their terms and conditions and so you will then be able to manage your use of the card much more carefully and wisely.

Visa Card Application Has Been Approved!

Once your Visa card application has been submitted and you learn that it has been approved, congratulations you have now been given the ability to make purchases and receive cash advances without having to use your own cash. Remember not to overspend. This is not free cash. Think of this as cash advance. Try your best not to buy more than you will be able to repay when the bill comes due at the end of the month.

If you would like to submit a Visa card application, click the link below.

How to Submit a Visa Card Application is a post from: Visa Card Appplication

When faced with problem credit, many people rely on prepaid cards to manage their daily expenses. However, prepaid cards simply provide access to your own money, not credit from a lender. These cards do not report to credit bureaus and do not help re-establish credit history. People need to demonstrate on-time monthly payments on a credit card in order to rebuild that important credit history.

How can you rebuild credit history?

The Public Savings Bank Secured Visa offers people with low credit or no credit the opportunity to re-establish their credit history and work towards improving their credit score. Individuals make a deposit into an FDIC-insured account which acts as a security deposit. They can then make purchases anywhere Visa is accepted or even take cash advances up to the deposited credit line amount, which is currently between $300-$2000. The payments that the “borrower” makes are then reported to all three of the major credit bureaus (TransUnion, Experian and Equifax). This offers customers the ability to easily establish or re-establish their credit history immediately.

Establishing and maintaining a good credit score with the rating’s agencies is very important. By establishing and maintaining a good standing with the credit agencies, will enable you to obtain other, more traditional types of credit. For instance, you will be able to submit a MasterCard of Visa Card application and likely get accepted. Even more importantly than that, by having and maintaining a good credit history, you may even be able to apply for and get accepted for a home mortgage loan.

PSB Secured Visa doesn’t require credit check

The Public Savings Bank Secured Visa does not require a credit check or even a checking account to apply. Customers can fund their account via Western Union, ACH, wire transfer, check or money order. The Public Savings Bank Secured Visa credit card does not have an annual or monthly fee. It also offers an impressive introductory APR of 0% for the first 6 months. If you are in a hurry, they even offer rush shipping. This enables customers to begin making use of their Public Savings Bank Secured Visa credit card just a few days after putting funds into their FDIC insured bank account.

Building good credit is critical at a time when credit is getting harder to obtain. This card allows the customer to build good credit while enjoying all the benefits of a Visa card at very favorable terms.

Prospective cardholders can apply at and get approved within a few short hours. Obtaining up your credit history can be made easier with a secured Visa Card from Public Savings Bank Secured.

Build Credit History With The Public Savings Bank Secured Visa Card is a post from: Visa Card Appplication

Rebuilding Credit With A Secured Credit Card

Rebuilding credit can be quite challenging. If you have a poor FICO score, you are going to have a very difficult time trying to obtain a traditional credit card. You need to find an alternative way to show the credit reporting agencies that your credit worthiness. The best way to do this is by being able to borrow money and repay it in a timely manner. You can accomplish this more easily with a secured credit card.

What is a secured credit card? As the name implies, this is a credit card that is backed by some form of collateral. Typically, the collateral is cash that is placed in an account in advance. Thus, when you use your secured credit card to make purchases, the money that you placed into a collateral account will be used to pay off your credit card debt.

What Have You Done For Me Lately?

Your FICO score is impacted more by recent activities than it is by things that took place long ago. So it is a very good practice to pay off your debts in a timely manner. The more you pay off your debts in a timely manner, the better your credit score will be. So, if you have money on deposit with a secured Visa card lender, that cash will be used to pay for your goods and services. The credit reporting agencies will see that you will have done a reasonable job repaying your debts and will increase your FICO score. This will allow you to apply for a traditional credit card and be able to borrow money more easily. You can obtain secured credit cards from both MasterCard and Visa.

Recommended Secured Visa Credit Card

There are several lending institutions that have secured credit card offers. One such bank is OrchardBank. This particular lender fully understands the situation that many of their prospective borrowers are in. They have dealt with many people who have a poor credit score. In most cases, they are able to help people in these circumstances by offering secured credit cards to rebuild credit scores. You can submit an online credit card application to see if you can obtain an Orchard Bank credit card. If your application is accepted, you will then receive an Orchard Bank credit card.

Once you have an Orchard Bank credit card, you will need to fund the account with cash. Along with their online credit card application is an easy online money transfer process. You can use the Orchard Bank online payment method. This allows you to move money from your bank account to the OrchardBank collateral account very easily, Once this is done, you will then be ready to use your Orchard Bank Visa card immediately.

OrchardBank is not the only lender to offer secured credit card offers. There are several lenders who will offer this to you. However, the Orchard Bank credit card is the preferred secured Visa card, in our opinion, predominately because of their reasonable fee structure. OrchardBank offers a very reasonable interest rate of just 7.9%. Furthermore, they are willing to waive their annual fee for the first year that you have their secured Visa card. In subsequent years, they charge a $35 annual fee for the privilege of using a Orchard Bank credit card.

Rebuilding Credit

If all goes well for you, it is possible that after just one year, you may have done such a good job of rebuilding your credit score, that you might not need to use an Orchard Bank credit card, or any other bank’s secured Visa card, for that matter. You might have done such a good job of repairing your credit score, that you will be able to submit a Visa credit card application for a traditional credit card. Remember, the secured credit cards require that you put up collateral (cash) in advance of being able to make use of their credit card. A traditional credit card allows you to make purchases and obtain cash advances without the need for any collateral. Your good credit will act as your collateral. Once you have a good credit score, you will realize just how wonderful it is. You will be able to borrow money much more easily. This can really help in case of a financial emergency. Therefore, you really ought to do everything that you possibly can do to get a good credit score and then to stay in good standing with the credit reporting agencies. The best way to do that is to pay off your credit card debts in a timely manner, and show the credit reporting agencies that you are a good credit risk.

It is extremely important that you improve how the credit reporting agencies view you. How can you  do this? You need to make changes to your spending and bill paying behavior. Make paying off your credit card debt your number one priority. Using one of the secured credit cards to rebuild credit history is a good way to help to repair that poor credit score. Repairing a credit rating will allow you to obtain traditional credit cards and other types of loans, including first and second home mortgages.

Rebuilding Credit With A Secured Credit Card is a post from: Visa Card Appplication