Learn and Avoid the Bad Side of Gas Reward Credit Cards

Learn and Avoid the Bad Side of Gas Reward Credit Cards
Not patronizing the affiliate gasoline station.

You can only earn rebates or points if you use your gas
reward credit cards to purchase from the affiliated gas
station. Thus, it is important to ensure that the gas card
you've chosen has partnerships with your preferred gas
station. Another important thing to ensure is if there is
an affiliate gas station right in your area or else, you'll
have to go out to refuel just to earn points.

Not keeping up with your monthly balances.

Usually reward credit cards do not give the privileges to
the credit card holder if there is an outstanding balance
on the card holder's account. Yes, if you're not keeping up
with your monthly balances on time, you might not be
entitled to receive rebates on your gas purchases. The same
is true not only for gas reward credit cards, but for other
types of reward credit cards as well. Aside from this,
failing to pay off your monthly credit card balances will
only result with you paying for very expensive interest
rates. Even worse, it can be a start of a serious debt
problem.

The real terms are not explicitly stated.

Generally, when you read credit card advertisements, you're
only given the best features of the card. The same is true
for gas reward credit cards. For example, if the offer
states that card members will be given a 5%* rebate on gas
purchases, the asterisk denotes that there are certain
conditions that come with the offer.

This means, you're not automatically getting the full 5% of
your rebate every time you purchase. The conditions can
either be that the 5% rebate will only be applicable after
you reach a minimum amount of purchase. Or it can also mean
that the 5% rebate will only apply as long as you don't
exceed the maximum limit of rebates you're allowed to earn.
Obviously, if you did not carefully read the terms and
conditions before signing up for the offer, advertisements
can mislead you into thinking that you'll get more than the
actual deal.

Misleading introductory offers

Some credit cards may offer a low rate of interest either
on balance transfers or on purchases for a short period
such as 6 months or less. However, once the introductory
period expires you may be surprised to find that you'll be
paying extremely high rates of interest for the rest of
your membership. To avoid such situations, see to it that
you know exactly how much the rates will be after the
introductory period ends.

----------------------------------------------------
Credit Card Rewards - Travel Reward Credit Card - Credit
Card Reward Programs and Reviews provides consumers with
valuable reviews and information on the best rewards credit
card offers and reviews. Visit the site at
http://www.rewardcreditcardsite.com/

How To Become A Millionaire Within Five Years - Part 2

How To Become A Millionaire Within Five Years - Part 2
In the second part of this article on how to become a
millionaire in just five years, I'm going to cover LANE #3
- PROPERTY INVESTING

While many wealthy people have made their cash in business,
as many have made their money in property, and many
business people put their money into property once they
have sold their businesses.

Why? Because property is not such hard work!

In the same way that you have two ways to make a million in
business essentially, you have two ways to make a million
in property, within five years.

Actually, there are SO MANY ways to make a huge amount in
property - like buying, renovating and flipping - but most
of them incur capital gains tax whcih will make my sums
harder, so I'm going to concentrate on the simplest and
most tax efficient methods.

To make (and keep) $1 million in property in five years,
you could work out that you need to create $250,000 rental
profit per annum, net of tax, or $416,666 per annum gross.
That's $34,722 per month.

If you work out that a good rental profit on a small condo
or family unit is $200 per month, then you can see that you
need 173 rental units to achieve your goals.

An easier way is to create a property portfolio that
appreciates in value by $250,000, per annum, which you can
periodically refinance to pull out your equity, tax free
(it's not earned income you see, so not taxable).

If you figure that property appreciates in value by 10% per
annum on AVERAGE, which means that some years it will do
better, some years not so well, but over time, 10% per
annum is reasonable for most of Europe, the UK, the USA and
I believe most urban parts of Australia.

So in order to own a property portfolio that will
appreciate by $250,000 per annum and that's 10% then yes,
you've guessed it, you will need $2.5million worth of
property.

And before you tell me that this is impossible, let me tell
you about my great friends Greg & Andy, who took
£10,000 on a 0% credit card, bought property under
market value, did it up a little bit, revalued, refinanced,
pulled their deposit back out and went again, which enabled
them to build up a £37 million (that's pounds NOT
dollars) within just 10 years.

You can read Greg & Andy's story on our blog.

They can pull out £3.7 million per annum, tax free,
but it gets even better than that.

Do the sums for yourself because every year, the
compounding effect kicks in, and every year, their
portfolio is growing exponentially, and so then is their
available income every year.

One way to make money from property without even owning any
(great for people without a deposit, who can't get a
morgage or who's credit rating isn't great) is to educate
yourself about what makes a great property deal and then go
and find those deals and then sell them onto investors with
money but no time.

Another way is to find people who HAVE to sell, offer to
buy their property at a future date at today's full market
value, then find people who can't buy now but who can in
the future (perhaps they are new to the country and haven't
built up a credit rating yet) and then strike a deal
whereby the future owner moves in and rents the property,
but has agreed to buy it for todays price, but in two years
time. You make money from both deals and often an income
at the same time. We go into this in much more detail on
the blog.

There is another way to buy property - guaranteed 405 or
50% under market value. This is not an income strategy in
the short term but it could certainly make you a property
millionaire within five years.

I hope I've fired you up about the possibilities for
becoming a property millionaire - there are just SO MANY
ways to make money from property.

If you would like to read about Lane #4 - The Internet then
look for Part #3 of this article.

----------------------------------------------------
Nicola Cairncross
Wealth Coach, Speaker, Author &
Founder of The Money Gym
http://www.TheMoneyGym.com/Blog

What the New Uniform Closing Instructions Mean To A Slumping Real Estate Market

What the New Uniform Closing Instructions Mean To A Slumping Real Estate Market
Imagine that you've decided to reward yourself for your
hard work and success, and purchase a Bentley Continental
GT Speed. You walk into the showroom, perhaps take a test
drive, haggle with the sales associate—as much as one
"haggles" for a Bentley—and within an hour or two,
depending on your credit score and liquid assets, you drive
away in your new car.

That's a purchase of nearly $200,000 that you made in one
afternoon, with financing. According to RealestateABC.com
the median home price in December 2007 was just slightly
higher, at $207,500, and yet no one really expects that
purchase—with a mortgage—to take less than 30
days. Some home closings even take months.

That's what efficiency brings, and that's where the Uniform
Closing Instructions (UCI) comes in.

What the UCI is and does

Kudos are due to the Mortgage Bankers Association of
America (MBA), American Land Title Association (ALTA) and
American Escrow Association (AEA) for their work on the
Uniform Closing Instructions (UCI), which are expected to
be ratified in the first quarter of 2008. This monumental
piece of work offers tremendous protection for consumers
from predatory practices and is long overdue.

The UCI comprise two parts: The general closing
instructions (GCI) detail the requirements for all
transactions; the specific instructions (SCI) will provide
a standard format for the details of each transaction.

The current closing instructions that lenders use vary
wildly from state to state, and even county to county, and
so do settlement agent practices. This results in increased
costs across every aspect of the closing process, costs
which are then passed along to consumers, both in money and
time. That is the impetus that set MBA, ALTA and AEA into
action, to develop new standardized mortgage instructions.

The UCI will streamline the entire process, improving
efficiency and lowering costs by replacing the endless
myriad of paperwork (and cutting down on the massive amount
of it, as well) by introducing standardized sets of just
two document packs (the general closing instructions and
specific closing instructions). This should help limit
mortgage fraud and allow for automated (e.g.,
Internet-based) mortgage originations.

It's important to note that though the instructions will
not be required to be used by lenders, the sponsoring
groups believe the industry is crying out for such a
solution. And given the current credit crisis, any help
given to limit fraud and smooth the closing process will be
universally lauded. There should be no doubt that the
major, reputable lenders will be glad to use these
instructions.

Positive impact

Streamlining and clarifying the closing process is a
positive in and of itself. Using the instructions promise
to increase efficiency, saving time and thus money, across
the lending and settlement industries. This should
ultimately reduce costs for borrowers, perhaps allowing
them to feel better about the process.

One of the keys to success is the reasonable time
requirement. The instructions require the lenders get the
data to the closing agents 48 hours before the closing
time. (Today's deadline is the closing table; that's when
the lenders get their information.) This way, the borrowers
will have time to look at the closing documents, ask
questions, make comments, and make necessary changes. Thus,
when you get to the closing table, the process should be
very simple, as the parties involved should have already
read the documents and taken care of any errors.

It will prevent delays in closings that cost the industry
and the borrower money. With each duty and responsibility
clearly articulated between the lenders, title companies
and closing agents, no longer will items fall through the
cracks, preventing a smooth closing. We've all seen
closings not happen due to confusion or mistakes, which can
cost a borrower his or her deposit, not to mention that
continued faith in the process is necessary for home sales
to move in the right direction.

This leads us to the most important outcome of the expected
near-universal adoption of the UCI: limiting fraud. The
settlement agent is directly charged with detecting and
deterring mortgage fraud, which directly contributed to the
current crisis the real estate market is embroiled in, as
settlement agents are the gatekeepers of the transaction.
The more cognizant they are of their role in combating
fraud, the better the chances of preventing straw loans.
The documents even control the amount a mortgage broker is
permitted to be involved in the closing process.

Finally, the UCI will pave the way for "automated mortgage
originations" or eMortgages, as the MBA has termed them.
With a standardized set of instructions, a potential
borrower could complete the process online, even submitting
PDFs of the necessary documents (such as pay stubs, etc.).
This will help move the industry into the new century and
allow for even greater ease of closing.

The bad news

On the down side, the most significant impact of the UCI is
its restriction on legitimate flip sales. The UCI will
curtail the buying and selling of property due to
financially-distressed circumstances, as it doesn't permit
a reduced purchase with an immediate turnaround to a sale
at retail prices.

While this is an attempt to help stem fraud, many flip
sales are responsible, legitimate transactions done by
aboveboard investors. Thus the UCI will slow the real
estate market recovery, as investors often help drive the
market when no one else is buying.

With the real estate inventory as high as it is and lenders
as skittish as they are, any barrier to home sales prevents
a turnaround and will only serve to deepen the problem. In
this case, the authoring agencies are cutting their nose
off to spite their face.

The bottom line

Obviously, the good overwhelmingly outweighs the bad. And
while the instructions in their current state are not
perfect, they are a great start. In the long run it will
help every person involved in the closing transaction and
create a better and safer buying and selling climate.

A uniform set of instructions that is widely adopted by the
industry will allow skilled agents to conduct the closing
process quickly and accurately, will strengthen compliance
and anti-fraud tactics, and will reduce the costs of
completing a transaction. Adoption of the UCI will
ultimately prove profitable to everyone involved.

----------------------------------------------------
Jack Sternberg is a nationally recognized expert on real
estate investment and the creator of the renowned "Buyers
First Program" who's been in the business for more than 30
years. Sternberg's deals have totaled over $750 million and
he's been to the closing table more than 1,500 times. For
more, visit http://www.askjacksternberg.com

Business Credit Cards: A Valuable Source of Funding

Business Credit Cards: A Valuable Source of Funding
One of the keys to business success lies in sufficient
capital: you need it to get through the fluctuating times
of your small business. Business credit cards can help
smooth over your financial needs. A recent survey showed
that 90% of small business owners use a business credit
card. Here are just a few of the many ways a business
credit card can help you manage your finances.

Access to Funding. Finding sources of funding can be a
challenge when starting a new business. A business credit
card allows you easy access to a line of credit. The credit
limit for business credit cards is usually higher than
personal cards.

Many business credit cards, including the Platinum Business
Credit Card from American Express and the Chase Platinum
Visa ® Business Card, offer 0% APR introductory rates.
These rates last for a few months, and sometimes for up to
a year. This can help jumpstart your business. It allows
you to make initial purchases and cover start-up costs
until revenue begins to flow in. If you pay off the balance
during the 0% APR period, you essentially enjoy the
benefits of an interest-free loan.

Cash Flow Solutions. Besides providing initial funding, a
business credit card allows you to extend cash flow. You
can purchase supplies with the credit card. This way you
can keep cash in the bank, rather than using it to buy
goods. As you receive cash from customers and clients, you
can pay off the credit card balance

While using the card, remember to pay off the balances in a
timely fashion. After the introductory period, the interest
rate that is used will be higher than many other loans.
Also, with a business credit card, unlike a corporate one,
you are personally responsible for paying off the debt. By
tracking purchases and setting up a payment schedule, you
can avoid running into credit card debt.

Extra Bonuses. Business credit cards offer small companies
a wealth of benefits. If you want a customized touch, look
for a card that will include the name of your company on
it. As your business grows, you can add employee cards.
Some companies let you set credit limits on employee cards
and receive monthly reports on their spending.

A business credit card will help you track expenses.
Monthly and annual statements show how much you have spent,
and some will even categorize items. This enables you to
quickly review how funds are being used.

Many business credit cards offer rewards programs. You may
want to receive 5% cash back on purchases, or accumulate
points that can be redeemed for travel bonuses and other
rewards.

As you consider which credit card will work best for you,
look at your business and its needs. A rewards program with
airline miles is perfect if you travel frequently. And if
you simply want more cash on hand, look for a cash back
program.

Whatever you are looking for, chances are you will be able
to find it in a business credit card. View your business
credit card as one of the financial tools for your
business. Use it as a source of funding to get started and
help manage the business. Then reap the additional benefits
and rewards it sends your way.

----------------------------------------------------
To View Business Credit Card Offers click the following
link: http://www.credit-card-surplus.com/business.php . Ed
Vegliante runs http://www.credit-card-surplus.com , a
directory helping consumers to compare and apply for credit
cards.

How To Choose the Right Frequent Flyer Miles or Airline Credit Cards

How To Choose the Right Frequent Flyer Miles or Airline Credit Cards
Thinking about applying for an airline rewards credit
cards? If you browse online and shop around for choices,
you may find your options confusing. Each frequent flier
credit card may claim to be the best one in the market and
promise to give you the best deals. But how can you
determine which one will really work for you?

Don't Focus on the Best Features

Focusing on the best features of each frequent flier credit
card can only confuse you even more. Remember that all
credit card companies put out well-thought up ads to entice
consumers to choose their credit card over competitors. The
best way to compare your choice of credit cards is by
considering the terms and conditions that apply.

Credit card review websites can help you narrow down your
options of frequent flier credit cards in the market. After
narrowing your choices to only three or two credit cards,
take the time to visit the credit card's official website
and read the terms and conditions in full. Make sure that
you understand all implications on the contract. If there
are certain terms that sound vague or confusing, do not
hesitate to call the issuer or the bank for further
assistance.

Which Airline Credit Cards Best Suits Your Needs?

Not all credit cards are suited for everyone. Each of us
live a different lifestyle and different credit cards are
designed to match the variety of needs of individuals.
Don't get a reward credit card just because it was
recommended to you by a friend. What works for him may not
necessarily work for your own lifestyle and spending
habits. In this case, you'll want to consider which
frequent flier credit card suits you best.

For instance, do you have a particular airline or carrier
of choice? If so, then it's best to look for the credit
card that has affiliations with the same airline you most
often fly with. Is there a particular destination that you
usually travel to? Then make sure that the credit card
you'll choose has provisions on this particular destination.

Do you own a business? If you're a business owner, then
don't forget to take a look at the selection of business
credit cards with frequent flier miles program. There are
fewer choices of business credit cards with travel rewards
in the market so you'll have an easier time picking out
one. Nevertheless, business credit cards with rewards do
give more opportunities for its holders to earn rewards.
Because businesses are big spenders, naturally, business
credit card holders are entitled to more privileges and
reward opportunities.

Regardless of which frequent flier credit card matches your
needs, make sure that it also comes with a reasonable rate
of interest, a reasonable annual fee and allows you to
enjoy your rewards with flexibility and ease. Check for
blackout dates or restrictions which can hinder you from
redeeming your well-deserved rewards. To avoid possible
problems in the future, read and understand carefully the
terms and conditions that bind you to your airline rewards
credit card.

----------------------------------------------------
Ann Wilson is the head writer of Credit Card Rewards -
Travel Reward Credit Card Site. This resource provides
consumers with valuable reviews and information on the best
rewards credit card programs. Visit the site at
http://www.rewardcreditcardsite.com

Bad Credit Report affects your Children - Learn Why

Bad Credit Report affects your Children - Learn Why
Bad Credit Reports will affect your children in many ways.
First let's start out with the fact that most Americans are
blue collar workers. You are working for the system, which
is greedy Corporate America. Corporate America does not
allow financial freedom. So you are subject to the 3%
salary increase every year if you are lucky. In other words
you don't have the money to pay cash for everything that
you might want to buy. In this article I wanted to discuss
with you in another light, about the fact that your credit
report not only affects you, but your children as well. For
instance, one of your kids, really need braces. I am not
sure if you have checked lately, but braces are very
expensive. Current insurance with greedy corporate America
does not cover all your cost involved with getting braces
these days. So your only choice is to finance part of the
cost. The doctor says lets run your credit to see if we can
finance the braces for little Johnny. Deep down inside you
know you have credit issues, and you just have that feeling
they are going to say that bad word NO. The doctor comes
back and does exactly what you thought, we cannot find
anyone that is willing to finance little Johnny's braces.
But here is a number to call so you can find out why. You
know why, your credit report is in bad shape because of
past mistakes and maybe some recent ones as well. You knew
this all along, and did nothing about it. I will tell you
this; bad credit does not go away. It will stay on your
credit report for 7 years.

Bad Credit destroys lives, and opportunity for people to
move forward. Maybe little Johnny needs a car, and you
don't have the cash to buy a car, so you have to finance it
for him, maybe little Johnny would love a backyard of his
own to play in. Now you decide to buy a home, but to your
surprise you can't because your credit will not allow
anyone to take the risk with your past credit history. I
can keep going on and on and on. I could write a book of
reasons how you're "bad credit report could affect your
children ", but let's talk about how to fix a problem like
this.

Your first step is to admit you don't have the credit to
get a loan anywhere. I would not go around hoping there is
a miracle that someone will lend you money, until you have
pulled a current copy of your free credit score report.
This will take the guessing game out of the equation, and
will give you a peace of mind where you stand with your
credit. Once you have determines your credit score, and
what is on your report, the next step is to start fixing
what is on it. Here is a link with how to fix bad credit
reports, go here: Once you have gone through this process,
you will soon have good credit, and will be able to finance
what every little Johnny needs. Your credit is important,
especially if you are not independently wealthy. Most
American have to borrow money to get some of the items to
live in today's society. My recommendation would be don't
let your bad credit report affect little Johnny.

----------------------------------------------------
About the Author: Mike Clover is the owner of
http://www.creditscorequick.com/ . CreditScoreQuick.com is
the one of the most unique on-line resources for free
credit score report, Internet identity theft software,
secure credit cards, and a BlOG with a wealth of personal
credit information. The information within this website is
written by professionals that know about credit, and what
determines ones credit worthiness.

Is There Such a Thing as a Bad Credit Gas Card?

Is There Such a Thing as a Bad Credit Gas Card?
It used to be that a bad credit gas card was the easiest
type of credit card to get. Nowadays, however, it seems
that only those with near-perfect credit qualify for the
best gas cards on the market. What's happened to gas cards
for those with imperfect credit histories? Are gas cards
for people with bad credit still out there? The answers may
surprise you.

More Restrictions

Gas cards are definitely harder to get nowadays and the bad
credit gas card may very well become a thing of the past.
Why? Believe it or not, gas prices and the economy have a
lot to do with it.

When gas prices started to skyrocket, people who couldn't
afford gas started putting it on their gas credit cards.
The problem is, when the bills came in they had no way of
paying them. Eventually, the gas card companies started
taking some big hits. Because of this, they began changing
their credit requirements for new account holders.

Some Things Change, Others Don't

The funny thing is that while many gas credit card
companies changed the way they approve credit applications,
they didn't lower their interest rates. Some gas cards
charge ridiculous interest rates even though they're now
only issuing cards to people with good credit.

A Dying Breed?

So is there a single bad credit gas card left? In all
honesty, you're probably better getting a general bad
credit credit card. It's easier to qualify for some of the
major credit cards than it is for some of the gas cards.

You might also want to consider pre-paid gas cards or
secured gas cards. These will allow you to pay at the pump
and some even offer rewards similar to unsecured gas credit
cards. Personally, I recommend a secured card over a
pre-paid as a secured card can help you rebuild your credit
while a pre-paid gas card cannot.

Your bad credit gas card can be a stepping stone to bigger
and better cards, but it can also hurt you in the long run
if you charge more than you can afford. Your credit can get
better and you'll qualify for more cards in the future if
you mange your payments wisely. Just because the credit is
available to you doesn't mean you should use it. Like all
other credit cards, only use your gas card to charge what
you can afford.

Just remember, if you do obtain a bad credit gas card make
sure you pay the bills on time each and every month for a
brighter credit future.

----------------------------------------------------
For more tips on bad credit credit cards, saving money and
avoiding getting taken, check out the bad credit credit
card section at CreditCardTipsEtc.com, a website that
specializes in providing credit card tips, advice and
resources.
http://www.creditcardtipsetc.com/bad_credit_credit_cards