My Personal Finance Blog

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.

Just a few years ago getting auto insurance quotes had to be done personally by calling each company and going to see them, however now you can get online auto insurance quotes easily, just doing a quick search will provide you with several options for you to choose, however many people are concern about giving their personal details online.

One thing that you have to keep in mind is that not all sites online are trustworthy, when you want to buy something online, you need to make sure that you are dealing with a good company. Now, to get a car insurance quote, you dont need to provide your credit card details or pay anything, however you do need to enter your vehicle details and personal info such as age, location, driving record, etc.

There are a few options, you can go directly to the auto insurance companies websites and get a quote or use comparison websites that provide you a quote from each company.

Doesn’t it feel sometimes that when it comes to auto insurance it’s like playing the game no one tells you how to play it right and where the rules are written without your consent? Well, to ease the situation, here are some auto insurance rules most insurance companies won’t tell you about.

1. If your credit rating is good you will have better rates.

Most of the insurance providers, whether big or small, use credit information to determine the rates you will be charged with. That’s because numerous studies have shown that there’s a direct link between a person’s credit rating and the probability that the very same person would file an insurance claim. Those who have poor credit scores tend to file claims more often than drivers with good credit reports. And we know how insurance companies don’t like insurance claims.

Tip: If your credit report is not that good, don’t haste with buying auto insurance. First, make sure you have settled all your debts and closed unused credit lines. After doing this wait for a month and your rates will be much lower than you would expect.

2. The model of your car affects your premiums.

Insurance companies don’t disclose the exact methods they use to calculate their rates, but your car make and model certainly plays an important part in the equation. All insurance providers have charts on all car models and their respective insurance cost based on theft rates, repair costs and overall safety.

Tip: Try purchasing a car with reasonable repair costs, good safety scores and low theft rates in your area in the first place. This will always give you the chance of having cheap car insurance.

3. Bad driving means higher rates.

Most insurance companies will raise your rates up to 40% of the initial premium you’ve paid if you have a single at fault accident. However, not all companies follow this rule.

Tip: There are insurance providers that have higher tolerance for first-time accident drivers. So when you purchase your cheap auto insurance policy or ask the provider if they have such incentives and what are their rules.

4. If your friend borrows your car and ends up in an accident you will still have to pay higher premiums.

It doesn’t matter who was driving the car if it was with your own consent. It will be you who will file the claim and this will eventually lead to increase in your premiums.

Tip: In case you didn’t give consent on using your vehicle your friend will be liable for the accident. However, if he or she doesn’t have own insurance or the damage resulted exceeds the amount of coverage contained with his or her policy the other party may come to you in order to settle additional medical and repair costs.

5. Official cancellation is required when switching providers.

You are free to cancel your policy any time you feel the need to. All that is required is to inform your current provider in written form.

Tip: After you have searched for cheap auto insurance and chosen another provider you can simply contact your insurance agent and inform him that you want to cancel your current policy from a certain day. In most cases the company will send you a filled out form where only your signature will be required.