August 2019 – Credit POC

million of us own 5 or more credit cards

Posted on August 29, 2019 by blogger

A staggering 3.2 million of us in the UK own 5 or more credit cards. I suppose this is hardly surprising given the last few years in the UK financial services industry, credit has been made far too easily available to people who either don’t fully understand the financial products they’ve applied for or simply couldn’t afford to make their repayments on mortgages, loans and credit cards.

Don’t get me wrong there is nothing wrong with having 5 credit cards or even a couple of loans and a mortgage, it all boils down to how these debts are managed. If you can happily move balances from one credit card to another or pay off your credit card balances with a loan then as long as you can honestly afford to make substantial repayments, not just the minimum amounts, you have nothing to worry about.

For the people who have 5 or more forms of credit which they use to pay for monthly household bills or food shopping and cannot afford to repay these debts every month, you are in serious trouble. Struggling to keep up with repayments and still using credit to keep your monthly finances in order is a recipe for disaster and you should seriously consider seeking professional financial advice or debt advice.

The recent credit crunch and interest rate rises doesn’t seem to have put us off; with 28 per cent of people applying for more credit cards last year. Of the 28 per cent, 21 per cent applied for 1 credit card while 7 per cent applied for 2 or 3!

As I said credit cards aren’t all doom and gloom as long as you spend sensibly and do not use them to buy items you couldn’t afford previously. Because, in the long run, you can’t afford it!

Simon Duffy writes for the Financial Blog a UK Finance Blog talking about all aspects of personal finance including loans blogs, credit cards blogs, tenant loans, credit cards blogs, mortgages blogs, insurance blogs and more.

Abn Amro Prepaid Credit Cards

Posted on August 24, 2019 by blogger

There are various kinds of credit cards available in the market at present. Prepaid credit cards are getting more and more popular now days. However, many people do not have any knowledge about prepaid credit cards. A prepaid credit card is allotted to a customer by a bank when he deposits a certain amount of money in his prepaid credit card account. An individual can use this card at all the place where he can use a normal credit card. However, in case of these cards, one cannot spend more money than he has in his credit card account.

It means that these cards have no risk of spending more than what you have. These cards work on the same principle, on which debit cards works. As you can spend only that much money which is deposited in to your account, there is nothing like interest charges associated with these cards. There are a number of banks available in the markets, which are offering such cards to their customers.

ABN AMRO bank is famous for offering various types of credit cards to a large number of customers. It offers credit cards to its customers according to their requirements and profile. ABN AMRO credit cards can be used at a large number of places. The prepaid credit cards offered by this bank are used by various people. These cards offer a lot of benefits to the customers. For instance, parents can give these cards to their children. Most of the parents hesitate to give regular credit cards to their children because they may spend a lot of amount through them. The procedure for getting an ABN AMRO prepaid credit card is very simple. You just need to contact your nearby branch of ABN AMRO Bank and after the completion of a few formalities; you will get your prepaid credit card.

Short-term Loans No Credit Check – Cash Without Fear Of Past Faults

Posted on August 18, 2019 by blogger

You should not be anxious if you are having a bad credit history and low credit rating when you need some cash for urgency. Despite your bad credit record, you can find out short-term loans no credit check that are designed for your typical circumstances. These loans are given right away and the lenders usually wire the cash in your bank checking account within 24 hours for urgent purposes such as timely clearing of credit card bills and urgent family expenses.

The applicants with low credit rating can quickly borrow the cash through these loans. This is due to the fact that the lenders do not perform any credit checks on you. Past late payments towards old loans and defaulting on payments or having CCJs and arrears in your name are by no means an obstacle in borrowing of the cash for urgency or regular works in the same day.

Short-term loans no credit check can bring you smaller cash ranging from 100 to 1500 to deal with urgent works in the same day. You are approved the cash amount for a short period of two weeks until your paycheque arrives. Your next payday is usually set as the repayment date of the cash. This feature allows you to repay easily without burdening your earnings much. Usually, the lenders approve an amount against its post-dated cheque plus interest payments.

But prior to availing the loan amount, you should also have this fact in mind that high APR associated with the short-term loans no credit check. Know also that your next paycheque will be under stress of repaying of the cash and interest charges on it. A distinctive feature of these loans is that the lenders never ask you to fax any documents when you apply for these types of urgent loans. You can right away take out an amount in the same day despite not having documents. These are helpful loans to avail when you need monetary assistance without papers.

You should ensure that you pay off the short-term loans no credit check on time without rolling over it for a longer duration. You should compare several online offers of these loans. Make sure that you borrow the cash for urgency only as these are too costly loans for routine works.

Short-term loans no credit check are immediately provided without credit checks in the same day for its any urgent use. You can repay the cash on payday.

Advice On How To Use A Credit Card

Posted on August 15, 2019 by blogger

The credit card is really a fantastic concept. However if it is not used properly it can simply bring financial ruin. By not using it properly you could end up in the unpleasant situation of paying every month interest. The credit cards in our days can be very helpful accessories since you won’t need to deal any longer with cash. When utilized correctly they could supply you with a lot of excellent benefits such as air miles or credit toward future purchases.

The most crucial element is to never think about the credit line of the credit card as extra cash which may be spent whenever you want on various stuff. Once you’ve acquired some thing make sure that every month you pay promptly the financial obligations. Also never get to many credit cards since when having a lot you’re tempted to acquire all kind of necessary and expensive things. Whenever you consider signing up for such electronic devices do not ever pick the firms which have substantial charge for late fees or charge membership fee. The main reason why is extremely important to use appropriately a credit card is really because you’ll never be in the tough situation of getting a bad credit. Any time reaching this particular stage there are numerous things that can be performed but the most effective is the process of repair bad credit. When making daily buys utilize cash or the debit card and not the credit card. This are some essential aspects that really have to be considered mainly because by using this electronic device for every day buys you can achieve the phase where you see it as a substitute for cash. This in many of the situations can lead to debt.

When paying your monthly obligations don’t get into the habit of making just minimum payments. This will just increase the period of time to pay the debt. Also avoid using your credit card to get stuff that you can’t afford and don’t close up one without knowing how your credit will be influenced. If you will consider all of these factors you’ll definitely not finish up in the position in which you need to repair bad credit. Surely that the credit card in our days is a very useful accessory. However , you have to don’t forget that in order to take advantage of all of the benefits you need to use it in the most appropriate way.

Find out how to get a good credit score by visiting this great website on repair bad credit.

How Your Credit Score Can Affect Your Home Ownership

Posted on August 8, 2019 by blogger

Any home buyer with favorable credit record and possess some assets will qualify to get a home finance loan. A credit score is among the important factors to consider when lending, it determines wether a buyer is capable of making payment on loan its mode and the interest. Because of this fact, it is important to be aware and updated on your current credit score. Attaining a not that good credit score will not mainly mean that you cannot own a home, its just a matter of proper planning to improve your credit score. Whenever credit score is an issue in acquiring a home, it is advisable to refer to a credit coach who is knowledgeable enough of credit scoring system coming from a reputable company.An optimal credit score for home loan approval would range from 700 up while 600 credit score could bring about some issue and credit scores lower than 600 would require a thorough investigation of the creditor’s worthiness.

Some of the concerns in improving credit score are: 1. Monitoring of credit report – keep an accurate and updated credit profile, miscalculation could mean low score. 2. Pay bills promptly – paying amount due on time can positively affect credit scores. 3. Keep balances low – not consuming all the available credit and settling your accounts in complete will be a good portion of scoring models. 4. New Credits – avoid new credit applications because it can detract from your score. Several applications can negatively affect your major loan application such as a home loan. Don’t open unnecessary accounts a lot more than you may need. 5. Old Accounts – this will likely generate good impact on your score for it will reflect your capability of handling loans and capability of paying them.

Home ownership is certainly anybody’s dream. One of the things that could stand between a person and possessing a home is a low credit score. Low credit score would basically mean a not so good money condition, and if all lending companies would approve every individual with such credit score status, where would their businesses go? It is exactly always on credit scores where lenders rely on wether they would fund a mortgage or do not. Thus, your best choice to keep a top score will be to pay your bills on time and manage your available credit wisely. Getting a multiple credit cards from different companies make lenders nervous with the idea that, do you really have the resources to satisfy your monthly dues on time? Its always better to become a responsible creditor to maintain a high credit score, so that when time comes that you consider owning a home, the possibility is always just right there on your finger tips.