The Book Fiend Info Center

Obtaining credit from suppliers and banks in the form of a credit card is an easy form of short-term finance. It can also be the cheapest form of finance. You are, effectively, using other people’s money to finance your business although no interest or other charges are payable. The terms of such credit can vary widely from a few weeks up to many months and will depend, in many cases, upon the particular type of business that you operate.

It must be stressed, however, that you must not abuse your creditors. As with a bank overdraft, the facility can be just as easily withdrawn as it can be granted. Your creditors can also penalize you if you do not pay them on time. They will be entitled to charge you interest at penal rates.

If you are considering purchasing any form of fixed asset, for example a plant and machinery, you must obtain long term finance. In addition, it is prudent to obtain that finance on repayment terms linked to the likely life of an asset. As an example, if you were purchasing an asset with a working life of, say, three years, it would be prudent to repay the necessary finance over the same term. In most cases the lender will indeed insist upon this. It would be futile them lending you money over ten years for an asset that will only last for three years.

Business credit is also available from a wide variety of sources and indeed on a wide range of terms and conditions. Some are secured on assets of one kind or another and some are available on an unsecured basis. As with all forms of finance, you need to know and understand the exact conditions under which credit is being made available. One thing to look out for is early repayment penalties. Even if you do have the means to repay the credit early it could cost you extra in terms of a fee or penalty interest.

Business Credit provides detailed information on Business Credit Cards, Business Credit, Small Business Credit Cards, Business Lines Of Credit and more. Business Credit is affiliated with Secured Business Credit Cards.

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Is it really essential to improve your credit report?

Even though credit score are three digit numbers but it has great importance in today’s business world. To earn a good credit standing it is very much essential that one pays his/her dues on time. Regular and timely payment of dues ensures a healthy credit score history.

Many retailers and lenders entirely depend on credit report in order to run their business on credit. Any negative remark can directly affect your credit obtaining flexibility. So it is advisable that you must improve your credit report and score. If your credit report contains any negative remarks it becomes vital that you improve your credit score as quickly as possible.

Suppose you are thinking to purchase a car on credit. For this you will have to apply to different bank and money lenders. Bank lenders solely depend on your credit score to judge your financial position in the market. If you do not have a satisfactory credit score history, there is every chance that you will not be granted the necessary loan to buy the car. Similarly there can be different types of investment you would like to purchase. So for all this purpose it’s very important that you maintain a healthy credit report.

Following are certain tips and guidelines that can help you improve your credit report.

• Make all your bills payment on time or before the due date. As any late payment can directly affect your credit report and simultaneously your credit score.
• Do not apply for credit every time as it may decrease your credit report rating.
• Maintain estimated balance on your credit. For instance your credit balance should not exceed 25%, as it is the usual credit limit.
• If you find any negative remark in your credit report, apply to know the true reason. Ascertain whether the information in your credit report is accurate or not.
• Maintain a free copy of your credit report.
• Do not open unnecessary accounts. Remember a zero balance account is also taken into consideration.
• As far as possible make sure that you avoid introductory offer on your credit card.
• Maintain good credit history.
• Check your credit report periodically at least twice a year.
• Repair your credit timely for any credit report service.

Isabella Rodrigues writes for free-instant-credit-report.info,
offering the latest information on credit cards, visit them today for more best
buy credit cards.

Visit today: www.free-instant-credit-report.info

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Having a lender pull your credit can be a scary experience and it can be worse if you’re not hip to the lingo of a credit report. When a lender throws out terms like soft vs. hard inquires it can sound like a trip to the doctor for a mystery disease.

Loan Officer: Mr. Driscoll lets take a look at your credit report.

Me. Ok

Loan Officer: Hrmm I see a few hard inquires…

Me: Is that bad?

Loan Officer: Have you had them long? You should look at having them removed.

Me: Am I going to die?

Loan Officer: No, but my kids can go to a better college. Cha-Ching!

So what is a hard inquiry and how do we get them? A hard inquiry is a mark on your credit report when a lender pulls your credit report. They can come from credit card offers, mortgages, car loans, store credit offers, landlords, etc.

Are hard inquiries bad? The short answer is yes. Hard inquires will have a negative effect on your credit score. This can lead to higher loan rates, or denial of credit. A hard inquire will effect your credit score for around one year. It will remain on your credit report for around two years.

The good news is, if you are shopping for a car loan or a mortgage you can shop around. The credit score company’s will let you shop for the best rate you can find on yoru new car or home with only impacting you with the equivalent of one hard inquiry. That said they expect you to shop quick, the general rule of thumb is you have about a two week window to shop for you credit.

With any other type of credit they are not quite as nice. Every time you have a lender pull your credit it will give you hard inquiry and hurt your credit score. The reason for this is they assume that you have read all the fine print for the credit card, or similar offer and you know the rate you will receive so there is no shopping for the best rate.

Why does a hard inquiry hurt your score? The credit score companies think that if you’re shopping around for credit, that you will probably get said credit. And if you have too much credit available you could over spend and not have the ability to pay back all of your creditors, making you a higher risk than a person who only shops for credit every few years.

You can have hard inquires removed from your credit report if they are inaccurate. Pull your credit often and look for inaccuracies if you see a hard inquiry that is not yours write a letter to the credit bureaus asking them to remove it, and it will improve your credit score.

What about soft inquires? Soft inquires are when you pull your credit yourself. Soft inquires have no effect on your credit report, and lenders can not see soft inquires. You are free to pull your credit and check your credit report as often as you want with no negative effects to your credit score.

When considering a major purchase such as a home or a car you should pull your credit and check your credit score. If your score is low, or not quite where you would like it to be, it will save you a hard inquiry reducing your score even further. If your score is high, then you know you should be getting the best rates available and it will make the shopping experience less stressful.

Ken Driscoll operates http://www.creditreportcoach.com which is dedicated to providing online credit report information!

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Some of us just haven’t been lucky enough to have perfect credit scores, and some of us have been unluckier than others when it comes to credit. However, all’s not lost. Did you know there are ways to increase your scores? When you know all these little “how to’s” you can sometimes increase your credit scores by 100 points.

A lot of people think that paying off old, delinquent accounts will improve their credit, and the collection agencies certainly want you to keep thinking so. But paying a charge off or a lien after it’s over two years old can actually hurt your credit score. Although a charge-off will severely affect your credit, the software that scores your credit looks at the last activity on the credit report to determine what effect it will have on your score. The collection agency will update your report as “Paid Collection” whenever you pay off the account, making the software pick it up as “current”. If you’re going to pay off an old account, the best way is to insist that the collection agency send you a letter that they will delete the account from your credit if you pay it. Some collection agencies will and some won’t, but it will increase your score and is definitely worth the effort.

Past due amounts, however, will totally destroy your score. Any amount in the past-due column on your credit report needs to be paid, or, if it’s not owed, contact the creditor and get them to take the amount off. In fact, I would suggest that you pay off any past due amounts before paying a collection agency once your account has reached the charge off stage. Then the software can’t pick up any past due amounts. You can call your creditors that have reported late payments, and ask them to remove the late payments in “good faith”, but remember politeness is the key. If you’re antagonistic toward them, they won’t lift a finger to help you, and you want your credit score to increase.

If your credit limit is not being reported, make sure the credit bureau has that information, because an account being reported with no limit gets scored as though the account is at its maximum amount. And, furthermore, the software will penalize you even more when your balance exceeds various percentage levels of your limit on credit cards. These levels are at 30%, 50%, and 70% of your credit limit. If you can, bring your balances below the 30% level for the maximum benefit, and you get a higher score when you have all your cards below the 30%, 50%, or 70% mark, rather than to have a zero balance on two cards and one card over the 70%.

And, last, but not least, don’t close any credit card accounts, unless you absolutely have to. Leave them paid off, but open, and use them about once every 6 months. You are scored on the percentage of credit available versus the amount owed. When you close an account, it increases your debt ratio which will decrease your score, because it reports as having less credit available with the same amount of debt as before you closed the account. If you have too many department store cards, you can close the newest ones and leave the older cards open, because the older cards show a long history of credit, because 15% of the credit score is determine by the age of the file.

So don’t let your “less than perfect” credit get you down. There are ways to overcome bad credit.

Tony Lorenzo has written several articles on a variety of subjects. This article on CREDIT SCORES compliments his website which helps people to find a MORTGAGE WITH BAD CREDIT.

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Artists, songwriters, poets, photographers are able to apply for various grants available for creative entrepreneurs. These grants, of $1,000, $5,000, even $10,000, are usually available through non-profit foundations. The artist utilizes the grant funds to further their career.
If you have faith in your talent and your business sense, you’ve probably considered applying for a grant to get you started, or to expand your stock photography career.

DO IT YOURSELF

“Why spend all that time meekly filling out papers, when the law of probability says you no doubt won’t win the grant? There are too many applicants,” said my friend, when I asked him how he got his start in stock photography.

I’ll refer to him as Keith.

“I knew I had talent,” said Keith. “I compared my own work with the images that are being published. That’s the real test. So, I gave myself my own grant.”

“How so?”

Keith smiled, “I said to my wife, ‘Look honey, -it says on this envelope that they’ll advance me $5,000. And it’ll take 5 minutes to fill out.’ It was one of those offers you get from a financial institution every five minutes if you have good credit.

“My wife grimaced,” Keith said.
“This was one of those situations where it really was ‘too good to be true.’ I put the elements together: I had good credit; my credit reports said I was in the 650’s, which is high. I’m business-minded. I know how to budget. I have the courage of my convictions. I’m talented.
the same.

“It took more than five minutes, maybe ten, to contact the company representative. In one week I had a credit line of $5,000 and a credit card with low interest that I could use to make all my purchases for my burgeoning stock photography business.”

NOT FOR THE LAZY

“This was the boost I needed to get over the financial hump. When I look back now, applying for a grant, any grant, is simply living on the wrong side of the monetary revolution going on today. My good credit rating was lying dormant. I had a proven track record in photography. I was involved in something I loved doing. I quit saying, ‘Someday I’m going to get a grant.’ Instead I gave myself a grant!

“When you give yourself a grant like this, you commit yourself to getting the job done. You’ve got to pay back that loan. When you get a grant, that’s not always the case. You can be lazy and continue to procrastinate or indulge in your idle ways.

“Why other emerging stock photographers who have a good credit rating and a talent for the stock photo industry don’t look into going this route, ‘giving themselves a grant,’ I don’t understand.”
Keith: Now they may be more likely to check it out, thanks to your sharing this with us.

What could you do with . . .Note: these estimates include costs such as postage, envelopes, telephone, mail list rental, temp workers, fulfillment expense, etc. $500

$1,500 Postcard campaign. A postcard with a “best” photo on it serves as a reminder to photobuyers. Postcards are effective because there is no envelope to open.

- 500 magnetic calendars. A handy (small) calendar, including you 800#, remains within a photobuyer’s reach of a telephone 365 days a year.
– sign up for inclusion of your photos in a desktop illustrated directory of images.- take out an ad(s) in a major photography magazine.

$5,000 500 CD’s to a select group of targeted buyers. Packaging, burning, labeling, fullfillment all done by a professional organization.

1,000 posters to be distributed to photobuyers

Hire a consultant who will demonstrate where you’re going wrong, where you could be going right. Once you are turned in the right direction, hire a rep who can make your accountant happy.

-produce an on-line vanity book featuring your photos
– Produce a vanity photo book. If you have what it takes, others should see your images. Design, production, delivery, will be your main focus.

$15,000 Build a website. “You never get a second chance at a first impression.” Make the design and selection of images A+.

Note: The above are a sampling of ideas. If you have others that have been successful, please ket us know and we’ll share them with our readers.

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It’s a popular misconception that the best credit cards are those that offer the lowest annual percentage rate for interest.

Low APR is one way to compare cards, but there are often mitigating circumstances that can turn a low interest rate credit card into a very expensive proposition. Before you leap on that offer for a credit card that offers an APR that’s several points below average, take the time to do some homework and be certain that it’s as good a deal as you thought.

Using credit card comparison sites you can compare credit cards in several different ways to find your own personal best credit card. Before you apply for a credit card, be sure to check the fine print for these potential stings in the tail.

High annual membership fees
Some cards that offer very low interest rates on purchases have annual membership fees that make the offer far less attractive. If you tend to carry a low balance on your accounts – or no balance at all – then it simply doesn’t make sense to pay a high annual fee for the privilege of using that credit card. The general rule of thumb to follow is if your average annual finance charges are less than the annual fee, pass on the credit card.

Outrageous late fees
Most credit cards will charge a late fee if your monthly payment is late, but some credit cards take it further. Read the terms of your service agreement carefully before you apply for a credit card to find out exactly which fees are assessed and how. Some credit cards that start out with very low interest rates can become prohibitively expensive if you’re late just once – you not only pay a late fee, you also pay a higher interest rate, as high as 29% APR, for as long as you keep that credit card.

Cash advance fees
One attractive option for many major credit cards is the ability to take a cash advance that’s counted against your remaining credit limit. It’s like being able to write yourself a loan whenever you need it. Again, be sure to read the fine print in your terms of service carefully. Many credit cards charge a flat rate cash advance fee that also is added to your balance, and many more also charge a different rate of interest for cash advances than they do for purchases and bill-paying.

Balance transfer fees
One popular reason to apply for a new credit card is to transfer your balance from a high interest credit card to one with lower interest – sometimes even 0% on the balance transferred for up to six months. Balance transfer fees can get you both coming AND going, though. Before you decide to apply for a credit card with a 0% balance transfer, check the balance transfer fees for both your current card and the new credit card you’re considering. Many cards charge a cash transfer fee to process the transfer to another credit cards, and/or a transfer fee to accept a transfer from another credit card. If you end up paying both on a balance transfer credit card transaction, you could end up paying more than you’ll save in interest.

When you’re ready to compare credit cards, visit “www.moneyeverything.com” where you’ll find information on credit cards in general, on how to compare credit cards and on specific credit card deals that will make it easy for you to choose the best credit card for your needs.

Jon Francis has been involved in various areas with the world of finance and has a keen eye for a bargin! He has an in-depth knowledge of the credit card UK market and now helps others get the best from a credit card. For more information visit “http://www.moneyeverything.com”.

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Here are some useful credit card tips for you to consider before applying for a credit card. Before applying for a credit card, you should decide why you want one, and make sure you can use it wisely.

More and more people use plastic as their main means of paying for goods and services. Today our entire financial system relies on credit. Credit cards can help to make your life that little bit easier- you can use it to pay for goods or services, either over the phone, online or over the counter.

A credit card makes it easy to buy something now and pay for it later. It’s much safer to use a credit card than to carry around cash. If you lose your credit card, you can ask your credit card company to cancel your card, and no one else can use it. But if you lose cash, your money is lost.

Credit cards are also convenient. You can use them to make hotel, car rental and other reservations. You can buy items over the phone or online. You can also use credit cards for emergencies, like unexpected car repairs, when you don’t have the cash to cover the expenses.

A credit card allows the cardholder to borrow as much money (up to their credit limit) as they like, when and where they like, without having to get permission from their bank manager.

All credit cards have finance charges for not paying your balance in full each month, but you could save a lot of money by shopping around for the credit card that offers you the best terms.

Shop for a card with an interest free period that gives you enough time to pay your bills on time without charging you interest. Credit cards with no interest free period start charging you fees as soon as you buy something on your credit card.

Finally, using a credit card gives you a credit history, which helps to get home loans and other credit in the future.

You may freely reprint this article provided the author’s biography remains intact:

About The Author
John Mussi is the founder of Direct Online Loans who help UK homeowners find the best available loans via the http://www.directonlineloans.co.uk website.

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Making a Tidy Profit From the Credit Card Companies

How many hundreds – even thousands – of dollars have you paid over the years to banks, credit card companies and other financial institutions in interest payments and other monthly charges? Take a rough guess and think about what you could have used that money on. A new car? Home improvements? A boost to the kids’ college fund? Sickening, isn’t it? It seems to be almost a fact of life that the majority of us have to pay a premium to furnish our lives with those little extras. The credit card companies take, take, take and we get nothing back.

But it doesn’t have to be that way. There’s a very simple, utterly legal and highly effective way in which you can reclaim thousands of those lost dollars. With the minimum of effort this no-risk strategy can reap you a very tidy profit. As well as earning thousands of dollars legitimately, you can do so in the knowledge that you’re getting one over the very same companies that have in the past earned countless dollars at your expense.

The premise – in a nutshell – is this: numerous credit cards lend new customers money at 0%

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Credit cards are often the cause of financial troubles for many people today. They are often so easy to get – but they can also be so hard to control. However, by taking advantage of some special balance transfer credit cards, help can be found that could bring some ease to financially tight situations. This article will focus on how to choose the best balance transfer credit card, making sure that the card you pick is the right one for you.

What Is A Balance Transfer Credit Card?

This particular kind of credit card allows you to take an existing credit card balance, which is at a standard rate of interest – possibly as high as 29%, and put it on another card. The new card makes the transfer appealing to you by offering either a low monthly interest on the transfer, or even no interest on the balance – for the life of that transfer amount. Making this kind of a credit card balance transfer not only makes good financial sense, but it is also easy to do.

What Are The Special Gimmicks Of The Card?

Obviously, a credit card issuer is not in the business of giving an opportunity like this away without any potential strings attached. Here are a few things that you might want to read the fine print in the offer and look for.

• Transfer Charges

Some credit card companies seem to want to play with the fact that not everybody reads the fine print. So, for the unwary, there could be a fee for making the balance transfers, or, it is possible that other advantages made in the offer could offset the transfer charges. You will have to look it over and compare it with other card offers. Ideally, if you accept a card with transfer charges, try to get one that puts a cap on the amount – for example, around $60 to $75.

• Yearly Charges

The transfer may be free, and the interest, but there could be an annual fee for the use of the card. This means whether or not there is any balance on the card – you will still pay the fee for as long as the card is active. Many cards will carry no annual fee.

• New Purchases

Here is another thing that you need to look for. A balance transfer credit card may offer you 0% interest on the amount transferred, but the amount of interest on new purchases could be very high.

• Introductory Rate

Every card has an offer to get you to get their card. One common feature is the promise of a low rate for new purchases. Be careful about focusing only on the promise of 0% interest on credit card balance transfers. Check out the length of time for the introductory interest rate, too. Compare that also with other card offers.

What Are You Going To Use The Card For?

Another consideration about which card to choose should be based upon why you need such a card. If you have a lot of credit card debt, then the purpose should be only to put on the card your current credit card balance transfers. This means that you should try to get a card with 0% interest on the balance transfer amount, and that you will not use it to make new purchases. Also, seek to pay as much as you can as quickly as you can.

When choosing your balance transfer credit card, the ball game is in your hands. It can either help you – or hurt you, if you get a card too hastily. Do a little research, compare cards, and then proceed with comfort – knowing that you got the best one for your needs.

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This article includes a sample credit repair letter. Letters like these are sent to a credit bureau or credit reporting agency to report inaccuracies on your credit report. If you are surfing the web looking for information about credit repair, you will find free credit repair sample letters at several sites, but you will also find that there are software programs with “fill in the blank” type letters. Whether you choose to pay for a sample credit repair letter or use a free one, the process is the same.

A credit repair sample letter is actually one of several steps in the whole credit repair process. Before the letter writing can begin, you will need to obtain copies of your credit report. A recent law has made it easier for consumers to access their credit reports. There is a new website, new phone numbers and addresses for the credit bureaus. All of this information and a sample credit repair letter is available at the official website of the Federal Trade Commission.

Once you have your credit reports, you will need to check them for inaccurate information and report the inaccuracies to the applicable credit bureau. This is also referred to as a dispute or disputed information. Whether you use the exact wording shown here or the wording used in another credit repair sample letter, the important thing is to be unemotional and state the facts.

Sample Credit Repair Letter:

Today’s Date

Some sample credit repair letters suggest that you include your name and address at this point, others include it at the end. The FTC’s credit repair sample letter suggests the use of the phrase “complaint department”. The use of that phrase, as well as where to put your name and address seems to be a personal choice.

Address of the Credit Bureau which is reporting the inaccurate information:

Equifax

PO Box 740256

Atlanta, GA 30374-0241

Trans Union

PO Box 2000

Chester, PA 19022

Experian

PO Box 2104

Allen, TX 75013

Re: Credit File Problem

To Whom It May Concern: (Dear Sir or Madam)

I recently reviewed a copy of the credit file your company maintains in my name. While doing this, I identified the following problem(s): (The sample credit repair letter suggested by the FTC is written a little differently.)

I have enclosed the following documentation that supports my claim:

If you have any “proof” that the information is inaccurate, (statements, cancelled checks, the “proof” depends on the individual item) list it here and enclose a copy (not the original). If it is not possible to provide “proof”, for instance if you do not believe that you ever had an account with a listed company, simply state what information you are trying to correct and leave out the line about documentation.

Please investigate and correct this (these) problem(s) as quickly as possible and send a corrected copy of my credit report to my home address.

You may want to include a copy of the inaccurate credit report with the disputed information circled or highlighted. If you are disputing several items, you can use one letter for all or one letter for each. The credit bureaus may be less likely to consider a claim frivolous if you send one letter for each disputed item. They are not required to investigate disputes which they consider “frivolous”.

A sample credit repair letter closes formally, using “Sincerely” and your signature.

If you do not receive a response from the credit bureau within 30 days, you can send a follow-up letter. A follow-up credit repair sample letter follows. The date, greeting, closing and addresses would be the same. The body of the letter would be something like this:

On (applicable date), I contacted this bureau regarding the inaccurate information in my credit file. I have waited a reasonable amount of time and have received no reply regarding my dispute. Please correct this information immediately.

You may want to include a copy of the original letter, credit report and any documentation that you originally sent. If the credit bureaus do not respond to your requests; if you cannot achieve results using this or another form of credit repair sample letter, contact an attorney, preferably one that specializes in credit repair issues. For more information about the sample credit repair letter, visit the Credit Repair Blog.

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