If you're a college student, you know how expensive books, movies and tuition can be. And if you only work during the summer break, you may be looking for a way to stretch your funds through the cold winter months. Fortunately, a student credit card can help. Find one with low interest and good terms, and you can charge during the lean times and then pay it off when you're making money on your summer job.
To get a student credit card, follow these guidelines:
1. Find some cards for comparison.
It's easier than you think. Credit card companies often set up tables and booths at college fairs. You may even find fliers or applications around campus. And you can always find a student credit card with an online search. Be sure that the cards you're considering are specifically student cards. Credit cards aimed at students tend to have more lenient credit score and credit history criteria, and they also tend to have lower interest rates.
2. Pick the one with the best terms.
Not all credit cards are created equal! Since your student credit card is probably your first, educate yourself a bit about the terms and jargon you'll encounter. Choose one with a low interest rate, since that's the "extra" amount your credit card will tack onto your balance each month. Look for one with a longer grace period, too, which is the amount of time you have to make a payment before interest begins accruing. Other things you should look for is a card with no annual fee and a low late payment fee.
3. Apply!
Simply fill out the application--either on paper, online or on the phone--and answer the questions on the form. You'll need to reveal all the basics, like your name, current address and phone number. You'll also need to provide them with a "permanent" address and phone number. The application will include lines for information about your school, your school's address, your enrollment status and your year of graduation. It's possible they'll ask about your bank accounts and employment.
If you're currently employed or have significant savings in the bank, chances are your line of credit--the maximum balance you can hold on your card--will be higher. But even if you only have a summer job, you should still be able to qualify for $500 - $1,000 in credit.
Monday, February 8, 2010
Free Credit Reports For You
If you were to tell someone that they can have a certain item for free, more than likely their response would be, “what’s the catch?” In the case of credit reports there is no catch, you can now get a free copy of this report through the three credit reporting agencies: Equifax, TransUnions, and Experian. Let’s take a look at the law and how you can benefit from it.
An amendment to the federal Fair Credit Reporting Act (FCRA) requires the three national credit reporting agencies to provide one free copy of your credit report to you annually. Beginning on December 1, 2004 and culminating on September 1, 2005, the Federal Trade Commission is requiring that these agencies offer reports on a rolling, phase in basis. In other words, on December 1, 2004, if you live in certain western states you became eligible at that time and every three months later additional states were added. By September 1, 2005, residents of all states are eligible.
Fortunately for consumers, you need not contact the three reporting agencies separately to obtain your free credit report. You can order right online at www.annualcreditreport.com; or by calling 877-322-8228; or by completing the Annual Credit Report Request Form and mailing it:
Annual Credit Report Request Service
P.O. Box 105281
Atlanta, GA 30348-5281
The form is available online where you can print it out and mail it in: www.ftc.gov/credit.
If you need copies more often, you can contact the three reporting agencies and request copies. You will pay for this service.
To buy a copy of your report, contact:
Equifax
800-685-1111
www.equifax.com
Experian
888-EXPERIAN (888-397-3742)
www.experian.com
Trans Union
800-916-8800
www.transunion.com
There are also private companies who will obtain all three copies of your credit report for you as well. There is a fee involved, but you may find their services to be less of a hassle than contacting the three companies separately.
So, how can you benefit from the law? By ordering copies of your reports from the companies on a four month rotating basis. Most consumers will find this plan to be sufficient and it will allow for you to compare/contrast the reports of each agency. Of course, if you already suspect fraud you will want to order all three reports at once and notify each agency to place a "fraud alert" in your credit file.
All in all, the new law is a big win for consumers. Take advantage of this "windfall" as soon as you become eligible to do so.
An amendment to the federal Fair Credit Reporting Act (FCRA) requires the three national credit reporting agencies to provide one free copy of your credit report to you annually. Beginning on December 1, 2004 and culminating on September 1, 2005, the Federal Trade Commission is requiring that these agencies offer reports on a rolling, phase in basis. In other words, on December 1, 2004, if you live in certain western states you became eligible at that time and every three months later additional states were added. By September 1, 2005, residents of all states are eligible.
Fortunately for consumers, you need not contact the three reporting agencies separately to obtain your free credit report. You can order right online at www.annualcreditreport.com; or by calling 877-322-8228; or by completing the Annual Credit Report Request Form and mailing it:
Annual Credit Report Request Service
P.O. Box 105281
Atlanta, GA 30348-5281
The form is available online where you can print it out and mail it in: www.ftc.gov/credit.
If you need copies more often, you can contact the three reporting agencies and request copies. You will pay for this service.
To buy a copy of your report, contact:
Equifax
800-685-1111
www.equifax.com
Experian
888-EXPERIAN (888-397-3742)
www.experian.com
Trans Union
800-916-8800
www.transunion.com
There are also private companies who will obtain all three copies of your credit report for you as well. There is a fee involved, but you may find their services to be less of a hassle than contacting the three companies separately.
So, how can you benefit from the law? By ordering copies of your reports from the companies on a four month rotating basis. Most consumers will find this plan to be sufficient and it will allow for you to compare/contrast the reports of each agency. Of course, if you already suspect fraud you will want to order all three reports at once and notify each agency to place a "fraud alert" in your credit file.
All in all, the new law is a big win for consumers. Take advantage of this "windfall" as soon as you become eligible to do so.
0% Credit Cards: Are They Worth It?
Credit card jumping has become a common practice. The term refers to the habit of moving debt balances from card to card to take advantage of preferential rates. But just how worthwhile is credit card jumping for consumers?
UK consumers have staggering levels of debt. Consumer borrowing has grown by more than 50% in five years. It's no wonder that people are looking for new ways to ease the debt burden. Credit card jumping offers one possible solution.
Money Saving Device
People who are carrying large amounts of debt can save hundreds of pounds in interest simply by taking advantage of the latest credit card balance transfer deals. Many of these offer a 0% interest rate for a fixed period, such as three, six, nine or even 12 months.
As well as transferring balances from other credit cards to a 0% credit card, consumers are sometimes able to transfer balances from store cards and even outstanding loan amounts. It is worth checking to see if these transactions also benefit from the 0% balance transfer rate.
Transferring a balance to a 0% credit card means that any payments made are paying off the principal rather than the interest. This reduces the amount owed, which is good news for those using this as a debt management method. Many card issuers do charge a balance transfer fee to curb the practice of credit card jumping, so it is worth looking around for the best deal.
Getting The Best From Credit Card Jumping
To get the best from 0% credit cards, many savvy consumers move from card to card when the preferential rate period expires. This requires some organization, but credit card jumping can mean that debt balances continue to go down as consumers move money (or rather, debt) from card to card. Those who don't move their debt at the right time often find they are paying a much higher interest rate – and the debt is not being cleared. This strategy works best when consumers pay on time. Late payment can result in fees that increase consumers' level of debt.
Consumers who are using many credit cards to manage their debt should consider creating standing orders to manage payments automatically. It is also worth using a spreadsheet or calendar program to keep track of when it is time to move to the next credit card.
Other Incentives
Credit card jumping can be an effective way of reducing debt, providing consumers do not add any new debt. There are also other incentives for using 0% cards, such as charitable contributions, rewards points, air miles, travel insurance and much more. It is worth shopping around to get a reward as well as the interest-saving rate.
Summary
Credit card jumping can be a good strategy for people who are:
1. organized about managing debt
2. trying to clear a large debt
3. prepared to shop around for the best balance transfer deals
4. able to pay on time consistently so as not to damage their credit rating.
UK consumers have staggering levels of debt. Consumer borrowing has grown by more than 50% in five years. It's no wonder that people are looking for new ways to ease the debt burden. Credit card jumping offers one possible solution.
Money Saving Device
People who are carrying large amounts of debt can save hundreds of pounds in interest simply by taking advantage of the latest credit card balance transfer deals. Many of these offer a 0% interest rate for a fixed period, such as three, six, nine or even 12 months.
As well as transferring balances from other credit cards to a 0% credit card, consumers are sometimes able to transfer balances from store cards and even outstanding loan amounts. It is worth checking to see if these transactions also benefit from the 0% balance transfer rate.
Transferring a balance to a 0% credit card means that any payments made are paying off the principal rather than the interest. This reduces the amount owed, which is good news for those using this as a debt management method. Many card issuers do charge a balance transfer fee to curb the practice of credit card jumping, so it is worth looking around for the best deal.
Getting The Best From Credit Card Jumping
To get the best from 0% credit cards, many savvy consumers move from card to card when the preferential rate period expires. This requires some organization, but credit card jumping can mean that debt balances continue to go down as consumers move money (or rather, debt) from card to card. Those who don't move their debt at the right time often find they are paying a much higher interest rate – and the debt is not being cleared. This strategy works best when consumers pay on time. Late payment can result in fees that increase consumers' level of debt.
Consumers who are using many credit cards to manage their debt should consider creating standing orders to manage payments automatically. It is also worth using a spreadsheet or calendar program to keep track of when it is time to move to the next credit card.
Other Incentives
Credit card jumping can be an effective way of reducing debt, providing consumers do not add any new debt. There are also other incentives for using 0% cards, such as charitable contributions, rewards points, air miles, travel insurance and much more. It is worth shopping around to get a reward as well as the interest-saving rate.
Summary
Credit card jumping can be a good strategy for people who are:
1. organized about managing debt
2. trying to clear a large debt
3. prepared to shop around for the best balance transfer deals
4. able to pay on time consistently so as not to damage their credit rating.
A Profitable Forex Strategy
Copyright 2006 Timothy Rohrer
Making money in the forex market is not an easy task by any means. However, given a bit of education and knowledge of the market, it can become quite easy to profit in the forex market. Most traders end up learning that it’s the simply systems that create the wealth. Over analyzing and over thinking can sometimes affect your trading methods and strategy.
The trading method I am going to explain here is probably going to upset you a little and will most likely go against everything you have ever been taught about forex. However, you have to remember that this is my personal strategy and its how I make money. It may not work for the next person, but it has shown me a way to make a substantial amount of money in the forex market.
Through your forex training you might have heard traders tell you to always trade with a stop-loss. If you don’t know what a stop-loss is, it’s simply an order telling the broker when you would like to cut your losses. I don’t trade with a stop-loss period. How is this so? How can I make money without using a stop-loss? I tend to believe that the big players in the forex market like to drive this market in certain directions to take out other traders stop-loss positions. In order for the banks to make money, they have to take other traders monies, therefore taking out stop-loss orders in the market. I don’t allow the banks to do this to me personally.
Secondly, on each trade look to make only a few pips. In some cases this is known as scalping the market. On each trade I am only looking to get 3 to maybe 6 pips or as I like to say, get in and get out.
Your next question might be, “how do I know when to enter and exit the market?” I use a set of indicators combine with a detailed analysis of trend lines and channels. The indicators tell me when to get in and get out and the trend lines give me the overall direction of the market for the next month to few years. Having a good idea of where the market is heading over the course of a few years gives me a good idea whether I am in buy mode or sell mode on a daily basis.
How is it possible to survive without using a stop-loss? Very simply put, do not risk large amounts on each trade. I only risk one tenth of my account balance per trade. For example, I only trade $1 lots on a $10,000 account. What this enables me to do is use no stop-loss. If the market moves 200 points no problem. By the time the market moves 200 points, I’ve already made 100 other trades in profit all for 3 to 6 pips each. If the market continues to get away from me, I continue trading each day gaining which eventually compensates for the few losers and eventually overrides them. When the market comes back in my favor, those losing trades are making profit every step of the way.
Making money in the forex market is not an easy task by any means. However, given a bit of education and knowledge of the market, it can become quite easy to profit in the forex market. Most traders end up learning that it’s the simply systems that create the wealth. Over analyzing and over thinking can sometimes affect your trading methods and strategy.
The trading method I am going to explain here is probably going to upset you a little and will most likely go against everything you have ever been taught about forex. However, you have to remember that this is my personal strategy and its how I make money. It may not work for the next person, but it has shown me a way to make a substantial amount of money in the forex market.
Through your forex training you might have heard traders tell you to always trade with a stop-loss. If you don’t know what a stop-loss is, it’s simply an order telling the broker when you would like to cut your losses. I don’t trade with a stop-loss period. How is this so? How can I make money without using a stop-loss? I tend to believe that the big players in the forex market like to drive this market in certain directions to take out other traders stop-loss positions. In order for the banks to make money, they have to take other traders monies, therefore taking out stop-loss orders in the market. I don’t allow the banks to do this to me personally.
Secondly, on each trade look to make only a few pips. In some cases this is known as scalping the market. On each trade I am only looking to get 3 to maybe 6 pips or as I like to say, get in and get out.
Your next question might be, “how do I know when to enter and exit the market?” I use a set of indicators combine with a detailed analysis of trend lines and channels. The indicators tell me when to get in and get out and the trend lines give me the overall direction of the market for the next month to few years. Having a good idea of where the market is heading over the course of a few years gives me a good idea whether I am in buy mode or sell mode on a daily basis.
How is it possible to survive without using a stop-loss? Very simply put, do not risk large amounts on each trade. I only risk one tenth of my account balance per trade. For example, I only trade $1 lots on a $10,000 account. What this enables me to do is use no stop-loss. If the market moves 200 points no problem. By the time the market moves 200 points, I’ve already made 100 other trades in profit all for 3 to 6 pips each. If the market continues to get away from me, I continue trading each day gaining which eventually compensates for the few losers and eventually overrides them. When the market comes back in my favor, those losing trades are making profit every step of the way.
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