In the economic environment of today, although you may not need to use it, having good credit is vital to survival. It positions you as a fiscally responsible person and can help ensure that:You get better rates on your mortgage;
You get better rates on your car loan;
Your security deposit, if your utility company requires it at all, is as low as possible;
Your potential landlord favors you over someone with a bad credit rating; and
Your potential boss favours you over a candidate with a bad credit rating.That being said, you should always keep in mind that the ability to obtain credit is a privilege not to be abused. It takes a long time to build up a good credit record but your reputation can be destroyed in a very short time. Do not borrow money that you cannot afford to repay.How do you get your first credit card?There is a slow way to get your first card fast. (And get a good credit rating)And there is a quick way to get your first card fast. (You only need some collateral)My hope is that if you are still young enough you will implement the slow way. If you are not – well keep on reading.The slow way to get a credit card fastOpen a debit or savings account (having an account demonstrates stability.)
Become an authorized user on a parent’s, siblings or friend’s card (do not use this card and make sure that the primary account holder is financially responsible.)
Get a student credit card.
Consider an auto loan (the interest rate is usually higher but it is a simple way to build good credit.)
Pay all accounts on time (set up debit orders to pay your bills or have a reminder system in place so that you’re never late with a payment. This includes utility bills, cellphone accounts and accounts at stores.)
Keep your employment history clean (your work consistency and stability in holding onto jobs is very important.)
Maintain a stable place of residence for as long as possible (this home address can even be that of your parents. Having a fixed home address greatly affects your credit rating.)
Consider a loan from a peer to peer lending site (individuals who offer these loans compete with each other to offer you the lowest rates. Often lower
than the bank’s rates. Ensure that these sites report to all the credit bureaus.)
Get a copy of your free credit report every year and make sure there are no mistakes.Building good credit is about proving financial responsibility and that you can reliably repay money you are trusted with. A single missed payment can negatively impact your credit score and take many years to disappear.If all these things have been taken care of, getting your first card will be quick and painless. Just make sure you are able to pay the balances when they fall due or all of your planning and sacrifice will be for nothing.The quick way to get a credit card fast1. Pre-approved CardsCompanies which offer pre-approved cards get information from you through an electronic trail that you leave behind every time you apply for a card. If you have a good credit rating, you would be able to get a loan every time you apply and can prove that paying it back will not be a problem. You would also be able to get the benefits and privileges given to people with a good credit rating.Everything is also visible online if you happen to have a bad rating. Potential lenders are also able to see that you have been disallowed credit and how often. This is a clear evidence that you are in possession of a bad credit rating. Only those with bad credit ratings get continuously rejected.As such, they send you invitations so that you will be able to get hold of their pre-approved cards. If you take a good look at what they are offering, especially the conditions, you will see that they are asking higher interest rates. But, given your situation, this is may be a pretty good opportunity to try to bounce back.2. Instant Approval CardSearch online for offers by banks and credit institutions for instant approval cards. These cards can be approved or denied in as little as 60 seconds.Compare the benefits and obligations attached to these cards.Apply for those that suit your needs and re-compare all those that are accepted. Most times, you will only need one card. It is not necessary to get all the cards for which you are approved.3. Secured CardWith a secured card the credit card company will require a deposit held against the card’s use that will be used if you fail to pay the account. The deposited funds for a secured card are not used to pay for the goods and services as you use the credit card. This deposit will also determine the limit on your card.Secured card providers report to the credit reporting agencies.Pay all your bills on time and after six months of ‘good behavior’ you can consider applying to the same lender for an unsecured card. By this time, you will have established yourself as a responsible borrower.If your application for an unsecured card is turned down, find out the reason. Not all lending institutions are the same. Some may require that you wait a little longer before applying for an unsecured card. Say anything from 12 to 24 months.Do not re-apply every month. Unsuccessful applications reflect on your credit rating and can leave you with an unfavorable rating.4. Pre Paid CardA pre paid card is very similar to a secured card in that it also requires a deposit up front. However, unlike a secured card, the amount available from this deposit is reduced every time you make a purchase. In this way, your card actually functions as a debit card. The details of account behavior on a pre paid card are not normally released to credit bureaus. So, if you are trying to build up a good credit rating, this is not always the best option.5. Retail AccountsSome retailers issue cards for use only at its own stores, while gasoline companies offer cards for fuel purchases. Gas and retail cards are more likely to approve consumers with little to no credit history. Retailers and gasoline companies report activity to Experian, Equifax and TransUnion and are useful credit rating builders.6. Joint AccountsYou can make use of a parent, a spouse, a close relative or a friend with good credit by opening a joint credit card account with that person. The bank approves the application based on the other person’s high credit rating, and the account gets reported in both cardholders’ credit files.Use your card responsibly and always pay on time or you may damage your joint account holder’s excellent records. Make sure that your joint account holder does the same. You will want to get your own card eventually and a bad credit report will hurt the process.7. Charge CardsThe providers include Diner’s Club and American Express.Charge cards are similar to credit cards, but the difference is that the balance of a charge card must be repaid in full every month whereas a credit card balance can be carried over to the following month. Charge cards don’t have credit limits either, so you have to be sure to spend only what you can pay off at the end of the month.The cards mentioned above can usually be obtained on the same day that they are applied for – sometimes within minutes. How fast is that?
Gambling Problems – 6 Tips To Overcome Them
Gambling problems arises when one tends to crave for more money by excessive gambling. Gambling when overdone leads to bankruptcy and dysfunction of relationships with your loved ones.Gambling is very addictive and hence unless you are determined to risk it, you might end up in misery. Winning and losing is a part of gambling and it all depends on how much the individual is mentally stable to take the defeats in gambling.Acknowledging the game of gambling is the first step to solve gambling problems. Gamblers Anonymous has posted the following questions to test you.1. Did you ever avoid school or work for gambling?2. Has gambling made your life at home unhappy?3. Has your reputation been affected by gambling?4. Has your life been remorse after a game of gambling?5. Did you choose to gamble and pay your debts?6. Has gambling brought your ambition and aspirations down?7. Did you ever wanted to win back all the money you had lost in gambling?8. Did you have the urge to win more after you tasted some success?9. Have you ever gambled and emptied your pocket?10. Did you borrow money and gambled any day?11. Did you go to the extent of selling things just to gamble?12. Were you hesitating to use ?gambling money? for your daily expenses?13. Has gambling made you careless person?14. Did you want to gamble for more hours than you wanted?15. Have you ever resorted to gambling to forget your worries?16. Did you want to commit an illegal act to finance gambling?17. Have you lost on sleep because of gambling?18. Does disappointment or argument spur you on to gamble more?19. Did you want to celebrate success for a few hours after gambling?20. Have you ever attempted suicide after failure?A person having gambling problems would say a ‘yes’ to at least seven questions posted above.These tips given below should help you out off gambling problems, if any:1. It is advisable to take just the money needed to gamble than taking credit cards and ATM cards along.
2. Do not gamble for a long time.
3. There are always more chances of losing than winning in a game of gambling.
4. Make sure you don’t use the money you won again.
5. When you do not have any more money to gamble, drop the idea without borrowing.
6. Take help of people who are not addicted to the game and seek proper advice.
Profiting With Owner Financed Homes (AKA Seller Financed Or Owner Carry) – Real Estate Agent Gold
For the real estate agent, broker, or professional, who understands how to structure owner financed deals, gold in the form of commission checks is awaiting. After having spoken with dozens of agents regarding the topic, I want to help provide solutions to your number one question: How do I get paid?Agents upon hearing the words “would the owner be willing to finance the sale” usually have a negative alarm going off in their heads that says “I won’t get paid”, or “I won’t receive my full commission”. By understanding how to structure these types of deals, you can assure yourself commissions in any market.Obviously, we all know that it’s important for the buyer of the property, on a home listed with agents or brokers, to do one thing; find a way to cover three important things: 1) the agents commissions, 2) the seller’s closing costs, and 3) the buyer’s closing costs. We all know agents need to eat, therefore they need to get paid for helping buyers and sellers close real estate transactions.Assuming we are working with a home owned free and clear (don’t worry, according to U.S. Census Bureau statistics, 31.7% of owner occupied owned homes are free and clear of mortgages), the key for the buyer is to find a way to provide approximately a 10% down payment (at least) so that all three of those above mentioned objectives can be obtained.The first, and easiest, method is to have the buyer pay 10% cash down from either their bank account, a line of credit, or borrower from a relative. This will allow the seller to finance the remaining 90% of the purchase to allow the transaction to close.The second, not as easy, method is to have the buyer borrow the 10% down payment from any lender on this planet to bring the cash to the closing table, and then allow the seller to hold a 2nd lien position of 90% to allow the sale to close. Even strict banks will worth with MANY borrowers to give the bank a 10% Loan to Value loan on a residential property. How can the bank lose ? If they borrowers make their payments, they win. If the borrowers default, they win. They are more secure in this type of deal than any other investment they could park their depositors hard earned money.In summary, the agents who find a way to help buyers come up with 10% to cover their minimum acquisition costs can become a deal structuring machine. They can help sellers sale their homes quickly, and help buyers when conventional lenders are running for the hills.