Online Access
June 27, 2008
It is convenient to check transactions online. Most credit cards offer online access to its customers so that they can check their balance, know their available credit limit and other stuff.
When I used to have a credit card, I requested that my bills be sent to me via email. I didn’t want to wait for my bill via mail as it could take longer and sometimes it doesn’t arrive before my due date so there were times I would miss paying on time because of this. I was very busy then and would forget to check it.
Once I receive my statement of account via email, I would just need to log-in to their secure site and from there, I can view my account’s transactions. The session times out after five minutes if there was no activity detected and I guess this was one way of ensuring my security online.
In this day and age of technology, it’s good to know that we already have this option especially for people like me who spend most of their time online. Just be careful in giving our personal information and in responding to emails that requests for password or other pertinent info especially if it leads to another website that is not related to the specific website of your bank.
A Secured Credit Card and Building Credit
May 4, 2006
Bank Rate has a great article on building credit with a secure credit card. I have gotten many of these unsolicited in my mailbox but have only used one a few years back. I don’t use any sort of credit cards very often.
Secured cards typically have a credit line equal to the amount of money you have on deposit with the card company. Not all secured-card providers report payment histories on the card to the credit bureaus. You can check to make sure that Bank of America reports your payment history by looking at your credit reports. Once a year you can get a free credit report from each of the credit bureaus. The Bankrate feature, “Free credit reports for all,” tells you how to get your free reports.
Want to Compare Credit Card Offers?
November 10, 2005
Don’t know which card to go for?
There are a bunch of sites out there that give you information on credit cards, but many of them rely heavily on advertising. If you don’t want to be blinded by psychedelic banners and annoyed by insistent pop-ups, then try MyRatePlan.com and CreditCards.com — two very helpful and professional-looking sites.
MyRatePlan.com allows you to easily compare features of various cards and even gives them ratings (hence the name). Other sections of the site (comparing flights, loans, hotel rooms, insurance, VoIP, etc.) are also worth investigating.
CreditCards.com might be even more comprehensive — it covers all sorts of credit card categories (low interest, airline miles, balance tranfers, instant approval, etc.).
How Credit Scoring Works
April 10, 2005
The all important credit score! It determines the amount of loan you can get, it determines the interest rate at which you are charged for a loan, etc. Your credit score plays an important figure in your financial life. So what goes into making that all important score of yours? How does it increase, how does it decrease and what are the factors that go into its calculation?
Your credit score is a number that reflects on the likelihood at which you will pay back a loan. Scores range from 350 (high risk) to 950 (low risk). Credit scores do not take into consideration your income, how much savings you have or demographic factors such as gender, race or nationality. Your credit score is affected by your current debt level, your past delinquencies, your credit history and how many times your credit report is pulled up by various agencies. Your score considers both positive and negative information in your credit report. For instance, recorded late payments will lower your credit score while a good track record of making payments on time will raise your credit score. Timely payment of your bills is important to ensure you maintain a good credit score. The amount of balance you have left on your credit card, how many credit card accounts you hold and your use of revolving credit also affect your credit score to a great extent.
Your credit score and credit report is formed on the basis of your credit history and you need to have at least one account which has been open or updated in the past six months to get a credit score. If you do not meet the minimum criteria for getting a score, you may need to establish a credit history prior to applying for a mortgage.
All in all, if you can pay for all your debts in a timely and consistent manner and not take more debt than you can handle, your credit score shouldn’t be able to trouble you in life. So take care and be wise with your finances.
About The Author
Sameer S Panjwani is the CEO and Founder of ChoiceOfHomes.com - Real estate listings of homes on sale and rent. Visit http://www.choiceofhomes.com.
Welcome to Credit Cardenza!
April 9, 2005
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