Finance Tips

What would you say if I tell you that credit cards could be beneficial for you in some situations? While many will advise you stay away from credit cards, there are specific situations where getting a credit card is highly recommendable, if you are struggling with your monthly bills, something no unusual nowadays because of the world economic state, then consider apply for a credit card with zero APR on balance transfers.

Credit cards providers are very active offering promotions and uncountable bonus that you can get just by using your ones, after all their business is all about you using them. However, after a while our human nature is exposed and we realize that we are carrying to much debt, we crossed the line and it is time to do something about it, if we do not do it, then we will pay a higher monthly interest rate that, sooner or later will be impossible to pay with the well know consequences, poor credit score or bad credit records for example.

Zero APR balance transfer credit card then, are a good alternative if we are planning getting control of our finance, as you can see 0% interest rate sounds too good from the beginning, while this is undoubtedly true there are still some aspects to be analyzed and, we have listed them for easy research.

1.- A zero APR for a period of time of 1-2 months is not useful at all, then you need to apply with a credit card provider offering you a zero APR for a span of time as long as possible.

2.- It could be obvious but if you have to pay any fee for balance transfer, then “0% APR balance transfer” is not true, just make sure that you pay nothing, zero, nada for these kind of transactions.

3.- After the introductory period of time with 0% APR (as long as…) you will start paying the regular APR, then the one offering the lower regular APR got some extra points in your credit card providers list.

4.- Are you allowed to transfer the entire balance of your high interest credit card, or just a part of it? you will not get all the benefits if you can transfer just some part of your balance.

5.- Are the purchases made with your credit card 0% APR? it is on your best interest having zero APR on your purchases as well and, as a bonus, a good reward program would work very good.

6.- Are you going to pay on time? if you fail making your payments on the due date, you will be charged the regular interest rate, instead of the zero APR introductory rate offered.

To sum up, consumers having credit cards debt have an option with 0% APR cards, they just need to be sure they are getting a zero APR for as long as possible, that there is no payment for balance transfer and that they can transfer the total balance and not just part of it, then getting a low regular interest rate after the introductory span of time offer is highly recommendable, and as usual, understand that by paying on time it is the only way to keep the zero APR offer while building good credit history.

For people with poor credit, at times it is hard to get the financial help you need. Many lenders don’t want to risk giving out money to someone with a poor credit score, and they don’t care about the cause of the problem which led up to the person no longer having good credit. Sometimes it may be unexpected medical problems, while other times it could be the loss of a job through no fault of their own. Whatever the circumstances surrounding the individual are, the only thing that matters to the bank is your credit rating.

Now at least there is an option for people with bad credit. They can get a no credit check payday cash loan, and even get the money in less than an hour, simply by applying online. There are no application fees involved for this type of loan, and the application and approval process is both fast and easy. The application is a very short form and the paperwork needed to secure the loan is minimal. Sometimes there may not even be a need to supply any documentation at all. Other times a simple copy of a pay stub may need to be faxed. Whatever the situation, a payday loan approval can usually be achieved within an hour, and the funds will be available just as quickly as well. At worse, funding for a payday loan will occur within 24 hours. All of this can be achieved quickly and without a credit check.

When a situation presents itself where money is needed quickly, a no credit check payday loan can be a helpful option no matter what your credit is like. Getting money in less than an hour without having to go through the time consuming application process a bank demands, as well as having to have your credit checked, is a big reason why many people are turning to these types of loans to get the help they need.

Like any situation, there are pros and cons to whether or not college students should have credit cards. Bear in mind that, like anything major, everything depends, first and foremost, on whether or not the student is financially mature and responsible.

Statistically, about 76% of college students have at least one credit card; many have more than one. One of the major pros to having one is the fact that, if used responsibly, they can help young adults build credit. After college, having credit is very important, as it helps one get a car, a house, and other forms of credit. So, not having the credit that is accumulated by a credit card can be crippling.

Of course, there are two sides to every coin. If the student is irresponsible with the credit card, It could lead to high debt and a poor credit score.

Despite this, credit cards also have many more pros. They guarantee protection in purchases, enable online purchasing, and guarantee relief in times of emergency. Knowing this, any parent can feel secure that their child is well looked-after.

Credit irresponsibility can also be addressed. If you, as the parent, don’t believe that your child is responsible enough to handle a credit card, all you have to do is explain everything about credit and credit cards to them before they leave for college. You can explain to them how they will need good credit after college, and how to maintain that good credit through responsible credit card use. Explain to them where the money for credit cards comes from, and how to avoid identity theft, and how to use it responsibly and maturely.

Though the cons may be serious to owning a credit card, they can be turned into pros, as parents influence their children to credit card responsibility.