| |
| |
|
Credit Information |
|
|
|
How A Prepaid Debit Card Can Help You Rebuild Your Credit
Consumers today are up to their eyeballs in debt. And many people don't realize it until their good credit has been devastated. As a result, many credit repair agencies are popping up all over the internet, on television and in the newspapers making sweeping guarantees that they can erase your bad credit and remove bankruptcies, judgments, liens, and bad loans from your credit history - forever! Consumers are flocking to these credit repair clinics in droves. However, estimates show that credit repair companies have defrauded consumers in the United States alone out of more than fifty million dollars. The truth of the matter is that depending on the extent of the damage to your credit history, the best strategy could be a self help strategy - not giving away hundreds or even thousands of dollars in up-front fees to an agency that in the end may do nothing to restore or improve your credit. After researching the topic quite extensively, I found one great method that works well for some people is a method I call "beating the credit reporting bureaus at their own game". I report about it in more detail on my Prepaid Debit Card Site (www.debit-card-guide.com), however, in brief, this strategy involves taking advantage of signing up for prepaid debit cards which offer a built-in credit reporting feature. A prepaid debit card is a great solution for a lot of people because the money you spend is your own and in most cases you cannot spend over the amount you have in your account. This is a good solution for people who may have had difficulties with debt or bankruptcy in the past because a prepaid debit card is a great tool for developing invaluable financial management and budgeting skills. A major bonus of some prepaid debit cards today is that during the sign-up process you are offered an opportunity to sign up for an additional service that will help you rebuild a bad credit history by having your monthly payments reported to one or more of the major credit reporting agencies. Subsequently, each month your card's issuer credit reporting partner will process your payment record and verify that your payment is properly posted to the credit bureaus' records. There is a small additional fee involved for this service each month, however, the fees are minimal by comparison to the sometimes outrageous fees and interest payment some credit card companies charge people with bad credit. This fee is usually billed to you through your prepaid card each month and enables you to show a continuous history of activity within the credit system. These prepaid debit cards help you rebuild your credit so you can get on with your life and is just one of the many self-help strategies that I recommend. To learn more about rebuilding your credit through the use of a prepaid debit card simply do a search in one of your favorite search engines for prepaid debit cards or visit www.debit-card-guide.com for more specific card information. Copyright 2005. For more information about Prepaid Debit Cards, check out THE definitive guide to prepaid debit cards of all kinds including: prepaid mastercards, payroll debit cards, debit gift cards, virtual credit cards, offshore, US and international debit cards, at: http://www.debit-card-guide.com
MORE RESOURCES:
Google News |
|
|
|
RELATED ARTICLES
Credit Repair Scam - How To Avoid Being A Statistic? A good credit history is critically important for the consumer. A bad credit will prevent you from getting a business loan, owning a home, or even a job. Credit Help for Real Estate Financing: Five Categories of Your Credit Score 1. Payment History -- 35%The number of accounts paid as agreed and a good payment history give you a higher score. Legislators Ponder New Credit Protection Laws Legislators in Washington, D.C. 10 Signs You May Need Credit Counseling Debt management programs can be of real help for people that discover they cannot face their debts. At first, they will attempt to solve the situation all by themselves by cutting down on spending and keeping a close eye on accounts. Protect Yourself Against Identity Theft Identity theft is when someone uses, without permission, your personal information in order to commit any frauds or crimes. Identity theft is a felony that is becoming more and more common. Credit Cards Credit cards are a form of unsecured credit. The issuer isextending you a line of credit, usually tacking on all sorts of little surprises in the fine print. Ethical Finance: Who Benefits From Our Spending? On one hand consumers are being universally criticised for running up significant amounts of debt on credit cards, yet conversely many companies are capitalising on the growing credit card debt, from charities and political organisations to football clubs, the Association of Surgeons and somewhat ironically ActionAid, an international development agency whose aim is to fight poverty worldwide.Financial comparison site moneynet. What Are The Most Common Credit Card Mistakes? Now in a world with so many easy to get credit cards it can be easy for someone who is a first time credit card holder, or even someone who has several credit cards in the past to make mistakes when using the card.One of the most common mistakes when using credit cards is to use the credit card to make purchases of things you are not really able to afford. Sound Advice For First Time Credit Card Users If you are just entering the world of credit cards, there is important information you will need to know in order to manage your credit and your finances effectively. Establishing good habits and a good credit history now is the foundation for a solid financial future. What Is the Fair Credit Reporting Act and What You Should Know About It The Fair Credit Reporting Act (FCRA) and the recent update to this law called the Fair and Accurate Credit Transactions Act (FACTA) protect consumers against inaccurate information being reported by credit bureaus and the privacy of that information. What does this mean to you?When you make purchases on a credit card, make payments to your accounts, open new bank or credit accounts, borrow money, buy a house or a car, and even fund your education, your financial information is reported by creditors and lenders to a credit bureau. Learning the Disturbing Facts about Credit Card Debt When I received my first credit card in the mail at age 18 I was ecstatic, I said to myself, wow now I'm getting somewhere in life. This credit card company thinks I'm worthy of 500 dollars in credit. Errors on Your Credit Report: What You Should Do There are times when you may be turned down for credit and you do not understand why. According to the Fair Credit Reporting Act you are entitled to a free copy of your credit report if you have been denied credit because of negative items on your credit report within 60 days of the request for credit, if you are unemployed but looking for work, are on welfare, or believe that your credit report is incorrect because of fraud. Why Is It important! Your credit is the most important thing you have other than your breathe. There are three types of people in this world. I've Heard About FACTA; What Does It mean? What FACTA means is that if you, as an individual, lose the information on anyone you have ever hired; or, for any business in the United States of America that collects any personal information on people, if the information should be lost due to not destroying the information properly, then two things can happen. First, there are federal fines of up to $2,500. The FICO Score Misconceptions There are many misconceptions about credit scores out there. There are borrowers who believe that they don't have a credit score. How To Eliminate Credit Card Debt There is almost nothing more troublesome than having too much debt to pay each month. Consumers incur debt for many different reasons. 10 Ways To Protect Your Financial Identity Being Used For Someone Else's Shopping Spree Someone impersonating you could be spending your hard-earned money.Impossible! Not really, check, loan, and identity fraud are a real problem. Repair Your Credit - The Right Way! How to Repair a Bad Credit Rating?The Right Way!If you have a bad credit rating, then you might find that your ability to get financing, loans, and even some jobs is greatly diminished.Once you have a bad credit rating, it might seem like there's nothing that you can do about it? but you don't have to believe that. 10 Simple Steps to Manage Your Credit By far the greatest invention the banks have ever come up with came out in the 20th century. Also the new field of Credit Management was born with the invention of the credit card. Why Should You Use Credit Cards Believe it or not, the way society, especially the commercial side, is set up these days, the only alternative to using credit is to pay cash for everything. But it's actually quite hard to do that.
|
| Home | Site Map | |
| © 2007 |
