My Personal Finance Blog » Banking and credit

Bank Of America And Chase Credit Cards Offer Instant Approval!

admin — Wed, 22 Jun 2011 22:46:40 +0000

Both Chase and Bank of America offer instant approval when you fill out your application online. This service is helpful for those who would like a credit card instantly, as well as those who would like to inquire and see if they are accepted.

If you are working on improving a less than perfect credit score, using online instant approval is one quick way to see how you are doing. By simply filling out the information online, you will get an answer back from the issuing company within sixty seconds as to whether or not you are accepted.

Once you are accepted for a card credit, instant approval means that your new Bank of America or Chase credit cards will be in your hands within five to seven business days of your application’s acceptance. You will be able to use all of the great services that Bank of America and Chase credit cards have to offer, such as no annual fee, a zero percent introductory annual percentage rate that covers not only your purchases but also your balance transfers, and high credit lines.

There are other benefits of using your newly available card credit. Instant information about your account activity, points management and balance is available when you need it anytime of the day or night through online customer service. This is a handy feature for people with an especially busy lifestyle, because you can check on your Bank of America and Chase credit card’s information at your convenience anytime it fits into your schedule.

Many Chase credit cards, as well as Bank of America cards are available with no annual fee. Credit card companies want your business, and many are willing to offer a annual-fee free card in order to get it. Plus many of the instant approval credit cards offer great rewards and discounts. You can earn points that you then turn in to redeem for cash, products, gift certificates for restaurants, and the very attractive travel bonuses.

You can select from Visa or MasterCard brands offered by Bank of America and Chase. These two famous logos are recognized and accepted at your favorite restaurants, hotels, theatres, and stores around the world, making them very useful not only for making purchases at home but also when you are out and about traveling. Taking advantage of card credit instant [http://www.consumercreditoutlet.com/] approval programs is an easy way to access the benefits of credit as well as check in on your current standing.

Bankruptcy And The Credit Union’s Cross Collateralization Clause

admin — Wed, 15 Jun 2011 12:56:59 +0000

In 2010, 1.5 million people are expected to file for bankruptcy and even more in 2011. If you are one of these people who are considering the process, there are some important things you need to know. In a bankruptcy filing, any money that is in your bank account, at the time of filing, technically is property of the bankruptcy estate. If you don’t have an exemption to protect it, the bankruptcy trustee can possibly take some or all of it. Legally, it belongs to the bankruptcy estate. Sometimes banks try to be helpful by freezing your account where you have no access to the money, even if you have an exemption to cover it. This can turn into a terrible situation for the debtor, when checks for bills start being bounced for insufficient funds. Knowing this in advance, it’s a good idea to pay your bills with cashier’s checks, so you don’t end up getting evicted from your apartment or home. Banks generally have the right to offset a debt with the bank account, but they seldomly do it. Many times when a bank is notified of a bankruptcy filing they immediately freeze the bank account and ask the court to access the funds owed to them.

When using a credit union, most consumers are oblivious to the fact that the credit union they keep their money in has a cross collateralization clause in their terms contract. A cross collateralization clause is the Dragnet clause to secure the money in your account against your debts. Many debtors use credit unions for automobile loans and don’t realize that the money they have in their account can be attached to their payments if they get behind. This becomes a problem for individuals that are filing for bankruptcy that want to walk away from their car and give it back. If there is a negative balance and the credit union member has money in their account, the credit union can take it as it was security for the loan along with the automobile itself. These time bombs planted in the fine print of a loan agreement also include credit card debt. Many people who belong to credit unions do all of their banking, credit union credit card, and car loan through the establishment. Where the situation gets very ugly is when a debtor gets themselves in financial trouble and has to file Chapter 7 bankruptcy. Say for instance, they decide they want to keep their car and continue paying for it, but they also owe a large balance on a credit card that they want to include in the bankruptcy to discharge it. When you reaffirm the debt for the automobile you will see that the credit union included the credit card and auto loan together making you owe a large amount if you want to keep the car. In this case, it would probably be the best to give the car back and include the entire amount in the Chapter 7. This is something that consumers should be aware of even if they’re not considering bankruptcy. Credit unions usually have attractive rates on car loans but they usually include one of these clauses. With so many landmines and a bankruptcy filing, it’s very important to consult with a local bankruptcy attorney to avoid any problems that might arise in your personal situation.

Bank of America Platinum Plus Visa Credit Cards

admin — Sat, 11 Jun 2011 17:31:12 +0000

If you are searching for a Bank of America Platinum Plus Visa, the following information will distinguish the two credit cards and aid you in your search to find which card is right for you.

Bank of America WorldPoints(TM) Platinum Plus Visa

No Bank Account Credit Cards

admin — Sat, 11 Jun 2011 05:23:46 +0000

Unfortunately, the options to get a new credit card are severely limited for people with less-than-desirable credit histories. The restrictions are so stern, in fact, that many consumers with bad credit are unable to buy simple consumer goods, or are slapped with very high interest rates.

There is good news, however, and it comes in the form of ‘no bank account’ credit cards. These cards allow people with low credit ratings and no bank accounts to enjoy the purchasing power of a credit card.

‘No bank account’ credit cards are usually pre-funded, meaning the cardholder ‘reloads’ it with money in order to use it. This arrangement is perfect for people who want to control their spending and limit themselves only to what they can afford. Most individuals recovering from bankruptcy use this type of card. It not only reestablishes credit history and demonstrates financial responsibility to creditors – it also affords users the convenience of a fully-functional credit card while living within their income.

If you are thinking about getting a ‘no bank account’ credit card, do not hurry – you should first shop around for the best deals.

The best ‘no bank account’ cards offer the same benefits as a regular credit card, such as rewards programs and online access and management. The card should be accepted in millions of locations around the world, and have ATM access for easy cash withdrawals, and other such convenient features.

You should also find a credit card provider that does not ask for annual fees or transaction fees, and offers free customer support either via the telephone or online. Some companies even go so far as to provide ‘wireless alerts’ to ‘no bank account’ credit cardholders – such a service will enable you to easily keep an eye on your account via text messages (SMS). The added features will certainly help you budget your finances even more effectively.

Who is Eligible for a Bank Credit Card

admin — Thu, 09 Jun 2011 07:00:06 +0000

Almost all the U.S. banks offer a good selection of credit card options. Before applying for a bank credit card, one must be sure to meet the eligibility criteria established by the bank. Even though the terms and conditions offered by each bank are different, the basic requirements to obtain a bank credit card are almost the same. To qualify, the person needs to be a permanent resident of the U.S. or a U.S. citizen, with a social security number. The minimum age requirement for applying for a bank credit card is eighteen years or more. Another criterion is to have a minimum gross annual income.

Even if the applicant meets the above-three core criteria, he must have a good credit history/credit report to get a bank credit card. The credit history can be obtained from national credit bureaus, which gather and sell credit information. If the report shows a history of financial troubles or delayed payments on previous credit cards, then there is an increased chance of becoming disqualified.

One of the easiest methods to establish a credit history is to apply for a small loan or a line of credit from any bank. For the applicants with bad or no credit, secured credit cards are issued by the banks, which help them to regain or rebuild their credit.

Bank credit cards with a low interest rate are available for students. To obtain these, the applicant must be a full-time or part-time student of an accredited two- or four-year college or university. Student bank credit cards enable them to start building a solid credit history.

Once the above eligibility criteria are met, the person can apply for a bank credit card. This is done by completing bank credit card applications, which require personal and financial information about the person. If the details mentioned are not accurate, the bank may refuse the credit card.

The Federal Reserve Bank & Your Credit Card

admin — Mon, 30 May 2011 13:54:06 +0000

You may get bargains at the store checkout. You may get an award or “cash back” for using your credit card. You may get a store rebate. What you may not get is a low credit card interest rate because the Federal Reserve Bank keeps increasing your borrowing costs. The bench mark interest rate is known as the “prime rate When the Federal Reserve Bank raises the federal funds rate, your bank will ratchet their prime rate. Your bank’s prime rate plus a margin rate your bank charges above prime determines your credit card charges. Many consumers do not want to read the fine print of their bank’s credit card agreement. Often confused by the terms, we accept them with gratitude because we can borrow money.

You may not like or even know about Alan Greenspan or his successor. You may dislike all Republicans or harbor disdain for Democrats. Whatever your political leaning, the U.S. government helps to educate and to protect you as a credit card holder. The Federal Reserve Bank raises and lowers rates. It also educates and protects. Education diminishes fear; knowledge gives you courage. Take a look at these free resources:

*Choosing a Credit Card: http://www.federalreserve.gov/pubs/shop/default.htm

*Your Credit Report: What It Says About You: http://www.federalreserve.gov/pubs/consumerhdbk/

*Review other Federal Reserve Bank Consumer information: http://www.federalreserve.gov/consumers.htm

*Frustrated by credit card debt? The Federal Trade Commission provides educational resources: [http://www.ftc.gov/bcp/conline/edcams/credit/index.html]

When backing out of the driveway, many of us sing the ditty, “I owe…I owe…It’s off to work I go.” Driving down the highway of boredom to the office, our radios blare music and news: “Ecuador’s record banana harvest prompts the Dole Food Company to sell grocery market bananas at 19 cents a pound instead of 29 cents.” Meteorologists drone: “Hurricane Katrina bashes gasoline refineries in the Gulf.” Economists moan: “Exxon Mobil pumps up prices” (the ride to work becomes more expensive).

When the Federal Reserve Open Market Committee increases interest rates, demand for products decreases, When we have money, economic booms increase; when, as buyers, we do not have money, “For Sale” signs blow in the wind. The seven Federal Reserve Bank members bankers study how we spend, what “things” cost, and decide what is best when we buy or sell. During the past year, the Federal Reserve nudged interest rates twelve times.

The Federal Reserve’s actions are not keeping us away from store counters. We spend at a frenzied rate. As a result, U.S. citizens have the lowest savings rate in the Western world. Someday our wallets may be squeezed by higher interest rates, expensive gasoline, and home heating costs.

We can become wise customers when we understand the math and the adjectives of advertising and sales. Calculating what the store offers and what you will pay is the math of buying. The sign, “Sale! 50% off until 12 midnight” manipulates you to buy now; this is the adjective of sales. In most instances, this means you use a credit card. Wisdom seeks the shedding of all burdens while celebrating what money cannot purchase and debt cannot take away.

“A feast is made for laughter, wine makes life merry, and money is the answer for everything.” – Ecclesiastes 10:19

The Argument for Orchard Bank Credit Cards

admin — Wed, 25 May 2011 17:36:15 +0000

Orchard Bank and its credit cards are a subsidiary of HSBC finance, so right off the bat, you know you’re in good hands. Orchard Bank credit cards offer the best in interest rates and personal finance control, so that it’s difficult to imagine a higher quality card for the beginning credit consumer, the experienced vet, or the indecisive on-the-fencer. Whether you’re looking for a good interest rate, a flexible payment plan, or a customized card design, you’ll find it with Orchard Bank credit cards.

Low Fees

One of the primary reasons many consumers are attracted to Orchard Bank are their lack of substantial fees. Some credit card companies will drain your account with fees before you even get off the ground. Not so with Orchard Bank. Depending on your personal credit report, you could qualify for a card with no fees attached whatsoever. That means free transactions, free credit limit checks, and free balance transfers. Even if your credit report is spotty, if approved, you can be sure that you won’t be bled dry by consistent and neverending fees.

Competitive Interest Rates

Orchard Bank has always been known for their low, competitive interest rates. If you are coming to Orchard Bank with a decent credit profile, you can probably get a credit card with an interest rate much lower than what you may have been paying in the past. Rewards such as frequent flier miles are few, but the lack of these gifts is made up for with consistent and fair rates.

No Liability For Unauthorized Charges

One of the biggest threats to the consumer today in credit card fraud and identity theft. Orchard Bank has a zero liability policy, meaning that if someone gets your credit card and goes on a shopping spree, you will not be held responsible for the money. This service and policy is invaluable. Credit cards can become lost or stolen, and the consumer, in less beneficial situations, can wind up owing the credit card company for the amount of the fraudulent charges. Not so with Orchard Bank which puts them one step ahead in the fight against consumer fraud.

Customer Service That Cares

In today’s busy working world, it can be difficult to find a financial institution that gives you the personal, 24 hour care you can find with Orchard Bank credit cards. If you lose your credit card in the middle of the night, they have a help line you can call and get everything squared away. The importance of this round the clock service cannot be overstated, as anyone who has been told to call back duri9ng business hours knows. Sometimes, business cannot wait until 9:00 in the morning. Orchard Bank seems to understand this, and for that reason you will never be left in the dark.

How You Can Get a Credit Card Without a Bank Account

admin — Mon, 23 May 2011 01:14:07 +0000

If you want to know how you can get a credit card without a bank account there is hope. One of the best options is to get a prepaid credit card. They are fully functional and are fairly easy to get and require no credit checks.

They work in the same way as major credit cards and they are accepted everywhere credit cards are accepted. There is no chance of overdrawing. The cards are pre-funded which means when a determined amount is spent the card has to be reloaded before it can be used again. Also there are not any limits on spending as with credit cards.

There are many other benefits to using a prepaid card such as the convenient spending power without any fees and high interest rates. Plus a prepaid credit card will help establish credit history.

Before getting a prepaid credit card it should be established that the card offers the same rewards and incentives as credit cards and the card should be accepted all around the world and offer ATM access for cash withdrawals.

Also prepaid credit cards should have low APR rates and offer customer support. It is extremely important to have good customer support with these type of cards in case a problem arises.

There are a wide variety of prepaid cards available to choose from and comparisons of features and rates should be made before the final decision is made.

Prepaid cards are an excellent choice for those who do not have a bank account.

Bank Credit Card Applications

admin — Fri, 13 May 2011 20:59:14 +0000

Banks and their associates are now competing with one another to provide a quick and easy credit card application process. There are two common options for bank credit card applications – online format and paper copy format. Banks’ disclosure statements provide all information regarding the costs and the terms of repayment.

By entering a few simple answers and providing financial details at a safe website, you can get a response to your application within a minute. An online application is the fastest and easiest way to receive credit cards. It is also one of the safest ways, as it protects personal financial details. There are a number of card types available. You can easily choose a card that matches your needs.

Banks’ websites usually display a list of their credit card types, interest rates, special promotions and credit limits. Many of them indicate the level of credit you require. For instance, a credit card with a high limit may need good credit, but in case of a student card, past credit history is not required. Generally, a person who is 18 years of age or older can apply for a card with any U.S. bank.

Most bank applications accompany two statements: ‘pre-selected’ and ‘pre-approved.’

In the case of ‘pre-selected’ statements, a person receives credit based on the details he provides on the application and depending on a succeeding credit report. In the case of ‘pre-approved’ statement, the person is granted credit just as he fills out the application and demands. But, he would not obtain as much credit as he desires.

Bad Credit Bank Accounts

admin — Fri, 29 Apr 2011 20:08:48 +0000

Bad credit bank accounts are perfect for those who have a poor credit history, have been bankrupt, or have a county court judgment registered against them. This helps them to repair their credit history without being caught in a fraud net. For the best services with a bad credit bank account, people should check the policies of the banks because different banks have different policies regarding bad credit bank accounts.

Repairing credit history is the first step to getting back into business. With careful planning and skilled help and patience, it can be done. It is very important to know what is owed and to whom. Current copies of credit reports should be obtained from all major credit bureaus. People should check the accuracy of the information provided in these reports to avoid further inconvenience. Paying bills on time to upgrade credit is also advisable, as is assessing the credit situation regularly to avoid any mistakes. Consolidating debt by paying minimum amounts.

People should maintain their credit accounts so that they can use credit when in financial need. They should go for a secured bank credit card that is backed by money deposited in a bank account while reducing the number of credit cards they have.

It is advisable to always pay the minimum dues on credit cards and get a copy of a credit report yearly to catch any errors. People should avoid things that can limit their credit such as high balances on credit cards, too many applications for credit, and low credit scores.