credit card skimmer scamCategories: Credit Card Scams Tags: card, credit, scam, skimmer
CREDIT REPAIR: Credit Secrets Bible Strategy to Improve Credit Score Fast!
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CREDIT REPAIR VIDEO
Rebuild Credit: Insider Credit Repair Techniques to Improve Credit Score Fast!
What’s the fastest way to raise your credit score? To quote the classic magazine salesman from the movie Office Space “That all depends”…
While the removal of negative items from your credit report will almost always result in an increase in your credit score, there is a method that works better.
Here’s why. Adding positive accounts is actually more effective at improving your credit score (in the short term) than removing negative one. Unfortunately, few consumers or credit repair companies know this.
One of the biggest problems with trying to get approved for new credit is that you need to “have” credit in order to be approved. This causes a sort of catch 22.
How does one “get” credit if no one will give them credit because they don’t have any credit to begin with? A vicious cycle indeed, but a real one. However, if you have someone you can use a cosigner this is NOT a problem. Simply have them cosign on the new credit application for you. If you don’t have a cosigner, read on.
Contrary to popular belief (or what myfico and credit repair companies would like you to believe), the largest factor in building a solid foundation for your credit score comes down to two credit scoring factors:
1.) The “High Credit Limit”
and
2.) Your “Debt to Credit” Ratio
Your high credit limit is simply the total amount of primary unsecured revolving credit lines you have (i.e. three credit cards at $5,000 each equals a high credit limit of $15,000).
Get it? Good.
Your debt to credit ratio is simply the amount owed on these cards in relation to your high credit limit (i.e. if your high credit limit was $15,000 and you owed $7500 your debt to credit ratio would be %50).
Keep in mind, your high credit limit is comprise ONLY of your total amount of unsecured revolving lines of credit. Home mortgages, auto loans, student loans, equipment leases and debit cards do NOT count towards your high credit limit.
A debt to credit ratio of 25% or less is ideal. Of course, there are many other factors which come into play, but keeping it simple, how does one improve credit score via increasing their high credit limit and lowering their debt to credit ratio?
That is the question….
The fastest way we have found is by adding primary user unsecured revolving lines of credit which are guaranteed approval (note: these are NOT authorized user accounts!).
These are unsecured lines of credit which appear on your report just like a visa card, mastercard or department store card etc.
We have found that while unsecured credit is the most difficult to obtain, it has proven to be the highest scoring on ones credit report. To find out the fastest we’ve found to add primary unsecured revolving lines of credit to your credit report, please visit:
http://www.CSBCards.com
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Duration : 0:9:12
Categories: Credit Repair Scores Tags: account, authorized, bible, cards, credit, fico, fix, government, improve, low, merchandise, myfico, ox, piggybacking, poor, prime, program, publishing, raise, rebuild, score, secrets, stimulus, sub, user, www.csbcards.com
If You Draw Cash on Your Credit Card You Will Be Out of Pocket
It is a well known fact that drawing money out on a credit card at an ATM is costly but the staggering truth is that around 750 million pounds is withdrawn in this way every single month in the UK. The rates that the card issuers charge seem to be ever increasing at a time when they are already being accused of profiting with their exorbitant charges.
It seems that the biggest percentage of people who are doing this are people usually on low incomes or those who are finding it impossible to borrow money from anywhere else.
Research by the price comparison website Moneyexpert.com says that on average the APR (Annual Percentage Rate) for the ‘hole-in-the-wall’ clients has gone up by more than 2% in the last year from 21.27% to 23.48% and interest is charged from the moment the money is withdrawn from the machine.
Added to this, as if that was not enough, there is a one-off fee for every single transaction done in this way. This charge can be anywhere from around 2.5% up to as high as 3%.
So, just so that we know in pounds what that means, if a person were to withdraw, and in effect borrow, 100 pounds it means that they will pay 25 pounds and 98 pence, over a quarter of the amount borrowed, if they do not repay it within the year.
Some card providers charge substantially more than that, for example, the Abacus card from Vanquis charge 46.19% which is almost half of the amount borrowed which is extortionate. Also, where most other card providers charge an average of 15.9% on purchases, Vanquis charge an astonishing 39.9%.
Vanquis is owned by a company called Provident Financial, and they are very quick to point out that the Abacus card is suitable for people with either a bad credit history and past debt problems or no credit history whatsoever. Basically, they are higher risk which is why they have to pay higher rates for the privilege of being able to borrow.
However, the Office of Fair Trading insisted that providers of credit cards had to cut penalty charges for exceeding payment limit agreements or for late payments and because of this imposition by officials, in return, the banking industry has intimated that they may have to increase their charges.
Chief executive at MoneyExpert.com, Sean Gardner said: “Borrowing cash on your credit card is incredibly expensive and unless it is really necessary we would urge people to think twice before doing it.
“The average APR was already expensive enough but card firms have pushed up rates by more than two per cent in the last six months. There are so many cheaper ways of borrowing than 23.48 per cent.”
A spokesman from the Consumer Action Group Marc Gander is very scathing about the lack of awareness by the borrowers and obvious transparency within the banking industry that these extortionate charges can be made and really are boosting the providers’ profits.
“There is no doubt that the whole business is built of stealth. The consumer does not really know what they are paying,” he says.
“The banks have relied on customers being apathetic and not being astute in financial matters to rip them off,” said the Independent Banking Advisory Service’s spokesperson, Eddy Weatherill.
Michael Challiner
http://www.articlesbase.com/finance-articles/if-you-draw-cash-on-your-credit-card-you-will-be-out-of-pocket-755758.html
Categories: Credit Card Rip Off Tags:
Credit Card: The Scams That Will Make You Lose Your Wits
In almost all aspects of life, there have been scams which develop in no time at all. There are these individuals who happen to have the least concern for the rest of the citizens that they take pleasure from creating scams. The newspapers and the television news tell us about the daily occurrences of these scams. It is just too sad to note that credit card scams are likewise all over the globe.
Credit card scams tend to become serious day by day. Most of these scams happen online. But then there are internet users who happen to increase their awareness regarding the credit card scams but it is just too unlucky for those who still drown into the pool of these troubles. Plenty of credit cardholders trustingly give out the necessary information about their credit cards via online but only to end up realizing that they’ve just fallen victims to the continuously growing credit card scams. Do you want to become a victim too? Certainly not!
What You Need to Know about Credit Card Scams
A lot of the popular credit card scams involve the customers being allured with the promises of excellent services but they have to pay for some necessary charges. They simply end up with the realization that they had given out more than enough money for nothing. Therefore what is there for you to do? You can always save yourself against these credit card scams so beware of the frauds!
Tips on How You May Avoid Credit Card Scams
A great dose of awareness coupled with a keen observation is what you need. There are several ways on how you can shield yourself from the fangs of these disturbing credit card scams. Here are but a few of those you may want to note:
Do a background check. To save yourself or your business from these drowning credit card scams, always take a close scrutiny about the name and nature of the company, the business that they do, the industries with which they are affiliated with, and many others. Ensure that the companies which try to deal with you are reliable.
Check for the chargeback fees. Most of the scams are after getting money from you. The companies may offer you some worthy services but you are obliged to pay. Chargeback fees and many others let these scam creators earn large revenues at the expense of your own sake.
Be careful with the discount rates. If you’ve got a business that does nothing but let your customers earn good credits, then the one which is up for a scam will earn a good deal of money once the discount rate is applied to every credit.
Stay away from the popular terminals. As much as possible, stay out of the world of the popular terminals. Always negotiate with companies that have earned their reputation over time as you can be sure they can be trusted.
Be alert for risky processors. There are processors that only permit businesses to work on up to 10,000 in a month. It means that as the limit exceeds, chances are the funds will come to a full stop. This is often the main cause for failing businesses.
Be cautious about the cheaply rated software and hardware. At first, you may be asked to pay minimally but later on your expenses will escalate in full blast. There are credit card processors that lock the terminals in the absence of the consumer’s knowledge. Always scout for the good deals and gather enough info about these things.
It is not enough that you get the opinion of other people because sometimes there comes a twist in your fate. There will come a time that you will encounter dishonest processors, tricky contracts, and hidden wordings in the company policies. The best thing that you can do is to arm yourself with cautiousness and keen intellect.
Mario Churchill
http://www.articlesbase.com/finance-articles/credit-card-the-scams-that-will-make-you-lose-your-wits-94581.html
Categories: Credit Card Scams Tags:
