Lower your credit card apr

APR often matters the most while deciding for a credit card. It is a common (and correct) notion that credit cards with additional benefits invariably have high APRs. This is true for almost every credit card company that exists.

You may be having a credit card that has a high APR but offers you certain irresistible benefits and advantages. It may have some membership benefits that you have become so accustomed to. There can be innumerable benefits for you, but you may realize after a certain point of time that you are paying a high APR for your credit card than the other credit cards in the market. This can be a puzzling position to be in, as you do not want to lose the benefits that you are availing because of the credit card and you also do not want to pay a high APR. In this situation, is there any way to lower your APR? Well, here we discuss the possible manner of doing so.

Let us assume that you have a good credit history. In this scenario, you will surely receive lots of mails and letters informing you of various new offers and schemes. Your mailbox would invariably be filled with unsolicited letters and mails from credit card companies. Your natural instinct would obviously be to tear and throw it in the dustbin but that is not the way to do it. Check out these brochures and compare the services and APR with your credit card company. You can also check web sites and other sources for comparison between various credit card companies. Once you have done a detailed research of the credit card market, give a call to your credit card company and tell them that you got a better offer, in terms of APR and benefits, from another credit card company. It is highly probable that the executive receiving your call would try to convince you. In such a case, make sure that you talk to the supervisor who would be handling the operations. Then pass on the message that you have received a better offer from another company (probably a competitor). The supervisor may ask you to wait for some more time as there are better schemes around the corner. You have to be adamant and tell that you cannot wait. In most of the circumstances, the supervisor would cut down the APR by around 50%. Even if this happens for a period of six months, you have surely saved some money.

No problem, you can repeat the same strategy after a period of six months, unless you really get a better offer!

Getting your credit report is easy and will soon be free

Obtaining a copy of your credit report is easy and, thanks to Uncle Sam, it soon will be free.

That's welcome news since it's a good idea, especially before applying for a loan or other credit, to know where you stand by checking your credit report (which details how well you pay your loans, bills and credit card purchases).

Under legislation passed by Congress in December 2003 and new Federal Trade Commission rules, consumers can request a free copy of their credit report every 12 months.

Once you obtain your credit report, visit yourcreditcounts. com for tips on how to read and understand it - and on how to improve your credit standing, if necessary.

This Web site, sponsored by leading financial services company HSBC - North America, provides new tools and other valuable information about borrowing, saving and credit management.

The three major national credit bureaus - Equifax, Experian and TransUnion - are establishing a centralized source for accepting consumer requests for the free reports. That source will include a dedicated Web site, a toll-free telephone number and a postal address.

The free credit report program rolls out across the country beginning Dec. 1, 2004, when consumers in 13 Western states can start requesting their reports. Residents of 12 Midwestern states will become eligible on March 1, 2005; 11 Southern states on June 1, 2005; and the remaining 14 states, the District of Columbia, Puerto Rico and all U. S. territories on Sept. 1, 2005.

It's a good idea to time a request for your credit report well before you apply for a major loan, advises HSBC. Check your credit at least three to six months before applying for a home mortgage; for an auto loan, check your credit and line up financing with your bank or credit union before you start shopping. This will allow you sufficient time to review the report and correct any errors you find.

Tell me more about credit repair

So you want to know more about credit repair, do you? If you’re already searching for information about credit repair even when there’s no need for it yet then that’s great.

I commend you for your forward thinking! Because of the economic crisis that probably almost the whole world is experiencing and which may still last for a while, it’s good to know that there are still people who are responsible enough who are able to plan ahead.

The wheel of life turns as it pleases so we can never be sure that we’ll always remain on top of it, no matter how frugal and prudent our decisions are. And if you want to know more about credit repair then certainly, we’ll do our best to give you the information you need and that could be your lifeline in the future.

There’s been a lot of noise made by critics when professional credit repair companies started emerging. They’re certainly not to blame for their opinions because there are truly several credit repair companies whose practices are illegal and unethical. But it wouldn’t be fair to generalize.

There are also a number of credit repair companies that truly provide help to needy and desperate clients and provide such services through legal and ethical means. One shouldn’t dissuade individuals who prefer to ask for help from a professional credit repair company because not all of us have the time, experience and the perseverance one needs when fixing bad credit.

The process, after all, is quite a long one and there are just so many documents to obtain, reports to review, forms to fill up, type, stamp, send over and process and between those tasks, you’ll have to spend a portion of it simply twiddling your thumbs waiting.

Now, just in case, you still want to know what steps you must take in order to fix your bad credit yourself, then here’s a simple list of things to do.

Procure A Copy Of Your Credit Reports – These documents figure largely in the credit repair process because they're the basis and the very reason why you need credit repair in the first place. Credit reports are supplied by credit bureaus or credit agencies.

At present, three companies are considered to be the major credit bureaus of the country – Equifax, Experian and TransUnion.

Dispute Erroneous Items – This sounds easier than it seems. Dispute is just a nicer word for arguing and that’s really what you have to do because you’re insisting that the credit bureau filed a wrong item under your name.

Earn extra income start distributing credit cards yourself

Become a Credit Card Distributor

Mastercard International is targeting a 40 per cent growth for the financial year 2004-05. At present, it has 7 million debit cards and 5 million credit cards. ...

People will always need credit cards; it seems the average person has about 4 cards in his pocket, a card for gas, a card for a major department store, a card for groceries, a card for jewelry, and a couple of cards as spares just in case cash is needed and in short supply.

Now if you have a website, ANY type of website, you can become an affiliate for one credit card company, or up to 100 credit card companies, for absolutely free!

To give you an example as to what is available:

You can feature more than 100 credit cards with several companies by just placing a simple link on your web page for free.

These companies will also help you set up your website.

Credit Cards offered are Visa. Mastercard and American Express.

Commissions to you when somebody fills out an appication range from $20 to $80 for an approval.

They provide affiliates with all credit card content, such as reviews, ratings, APRs, fees, etc. All information is provided FREE to affiliates to incorporate into their websites.

Some companies will actually supply you with access to a database which consistently updates any information that may change such as interest rates and terms and conditions.

There are at present numerous different types of cards the majority of which fall into 2 classifications:

Credit Cards based on good credit history.

Interest and transaction rates should be relatively low.

Credit Cards based on not so good credit history.

Interest and transaction rates will be relatively high.

It would be perfect as an affiliate to be able to offer both.

In order to convince people to subscribe to a certain credit card you can actually promote on your website various types of rewards offered by the credit card companies.

A prime example of rewards of course are airmiles.

"Get 15,000 miles free when you apply for this particular credit card."

How about these rewards:

"0% intro APR for 15 months."

"Instant approval"

"5% cash back"

"Free movie rentals"

"Bad Credit OK"

"Low Interest"

"Purchase and transfers at 0%"

"Free rewards program: Home, electronics, dining, travel and more"

"5 points for every $1 spent at supermarkets, drugstores & gas stations:"

"Earn 1 point for every $1 on all other purchases"

"0% APR on balance transfers for 12 months"

"No annual fee"

"auto rebate cards"

Faster Cards

There are now new cards , where cardmembers simply hold their card near a point-of-sale reader at a checkout, instead of swiping their card or handing it to a store employee. As cardmembers hold their card with this feature near the point-of-sale reader, the reader will quickly emit a tone and light up to signal payment confirmation.

"We believe the innovative cards with this feature provide merchants and cardmembers with the increased speed and convenience they want at the point-of-sale," said a senior vice president of a company’s credit card division.

"With this feature, cardmembers can save time when making their everyday purchases." So you could use any of the above incentives to promote your affiliate credit card link and earn additional Internet Income.

Cherish your credit card

Holding one or more credit cards accounts can be a very convenient way of handling your finances in today's society, and while there are definite advantages to having the extra credit facility, it is important to exercise a level of control in the way you use these accounts. A good rule of thumb to keep in mind when using a credit card account is to never owe more on your card than you can easily pay off within three months. Now that level of commitment can change month to month so it's worth while to fluctuate your own maximum use of the card even if the issuer has given you a higher threshold. 'Maxing up' your credit card is never recommended for the simple reason that once you are unable to use the card for the reasons it was intended, then making the payments on it will hurt you that much more.

Impulse spending, simply because you have space on your credit cards can lead you into a very dangerous financial mess, and you therefore need to avoid the self indulgence, and stop buying things you didn’t know you wanted until you saw them on display in a store. You really should have a good idea of how much you have used the card during each month even before your credit card bill arrives on your doorstep. If you are ever surprised at how much more you charged to the card than you thought you had, that is usually a good sign that you are using it too much.

It is always tempting when we look at how much 'space' we have on our credit card, to regard that as money to be spent, and feel obliged to indulge ourselves, often buying goods we don't need and would never have purchased with money saved in a savings account. You should also remember that any amounts you are obliged to spend on your credit card bill payments, will often prevent you from increasing your savings for more important things like holidays, a new house or car or even your retirement.

Here are a few good guidelines to implement when using your credit card facility. Keeping these suggestions in mind will ensure that you don't create problems that may affect your lifestyle to say nothing of your credit score.

1.) When using your credit card to pay for any item, simply ask yourself if you really need it, or just want it. Separating needs and wants is an important spending issue and all your purchases should be justified, at least in your mind.

2.) When you go shopping, make a list of what you need and either take only enough cash to pay for what you have planned to buy, leaving your credit cards at home, or decide what you will charge to the card before you leave home, and stick to that figure.

3.) If you see something you think you really need, give yourself two weeks to decide if it is really something you do need or something you can easily do without. Very often, you will decide during that grace period that you didn't really need the item in mind, and your life will roll on just as well without it.

4.) Discipline yourself into not buying anything whilst you are out shopping that you didn't think about before you left home.

5.) Remember that you will be under great pressure to charge your card to it's limit, not only from the advertisers who want you to buy their products, but also from the issuers who make money every time you use your card. Always resist the temptation! You must set some financial goals and stop spending money on items that really don’t matter in the long run.

6.) Don't use your credit card to draw cash either from a bank or ATM unless it is absolutely necessary, as this is a very expensive way of putting cash in your pocket. Make sure you read and fully understand the small print with regard to use of your credit card, and in particular, the charges your issuer will impose on cash withdrawals.

The pressures created by credit card debt are enormous. Impulse spending can have an adverse effect on your health, your relationships and your creditworthiness, and you owe it to yourself to treat all three with total respect. Try to just use your card for items you know you can afford to pay for when the card bill comes in at the end of the month. That way your card facility will often cost you nothing. Paying the minimum payment on a credit card is fraught with danger and will cost you dearly.

If you follow these basic rules when using your credit card account, you will protect your lifestyle and relationships and at the same time, keep your credit score safe.

Trevor Taylor