What does "manage your credit" mean, anyway?

What does "manage your credit" mean, anyway?
The other day I was having lunch with a friend at a deli,
which had just run out of Swiss cheese. "Oh for Pete's
sake," my friend blurted out. "What kind of sandwich place
doesn't have Swiss cheese?"

That got me thinking—not about cheese—but about
the phrase, "for Pete's sake." It's a common saying I hear
all the time; I just wasn't sure what it really meant. (Who
is this Pete fellow?)

Then I realized there are a lot of terms or sayings we use
that don't have obvious meanings. In fact, I use one all
time that may not be clear to everyone: "Manage your
credit." What does that actually mean?

Man-age (man'ij) vt. 1 to control the movement or behaviour
of; handle 2 to have charge of; direct; administer

Credit management can mean many things to many people. For
those of you who want to take an active role in your
credit, it means understanding how credit affects your
life—and how to use it to your advantage.

Here are three things you can start to do right now.

1. Order your credit profile more than once a year Your
credit profile can change daily (especially if someone is
pretending to be you), so you need to know what's going on
all the time. Credit reports make it simple to track your
credit information.

2. Establish your own credit

Do you only have credit cards that are joint accounts? Even
if you share the account with your spouse, it may be best
to get an individual account to build credit in your own
name. That way, you can make sure it's your actions that
affect your credit record and credit score. Keep in mind,
when you share an account, you also share that person's
credit behavior.

Maybe you're just getting started or want to start over and
re-establish your credit, when doing so you'll want to make
sure that it's you (and not your accounts) that's in
control. There's a step-by-step guide you can use that will
be a big help.

3. Create a spending plan

High credit card account balances can mean lower credit
scores—and that can hurt your chances for better
interest rates. Print out your credit profile and circle
any accounts with large balances. These are the cards you
want to pay down first. So, you should try to budget in a
way that allows you to put extra money toward these
accounts each month.

Whether it's signing up for credit monitoring services or
sticking to a spending plan, taking action regularly is
what managing your credit really means. So for Pete's sake,
get going!

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What is a No-Fax Payday Loan and How Do I Get One?

What is a No-Fax Payday Loan and How Do I Get One?
Cash advance loans, otherwise known as payday loans have
really become popular in recent times. Although most of
the time people that are on a fixed income seem to use this
particular type of loan, they are available to everyone.
The reason why they are so popular among those that do not
have additional money is because they tend to run into
financial crunches from time to time and need a helping
hand. It's difficult to turn any quarter without seeing
advertisements for companies that offer you this quick cash
that is available just by signing your name.

In recent years, there has been an inundation of companies
that offer this particular service in the United States.
The reason that this is the case is because many business
people see it as an easy return on the money that they lend
out on a short-term loan. Another reason why they may like
it is because it really requires no overhead, other than
cash on hand, and you can start one of these businesses
relatively easily. Something good that has come out of so
many people competing in this particular field is that it
has gotten to where there is some competition and rates
have come down to a certain extent. The Internet has also
played a big part in these companies who are trying to get
ahead and taking advantage of any avenue of making their
company succeed.

What makes a no fax payday loan different?

In order to enter into a contract, the law requires that
you are at least 18 years old unless you have a cosigner
that is at least that age. That is the first step in
applying for a payday loan, giving proof of your age by
showing a legal document of some sort. Another thing that
you are going to need to prove is that you have been able
to hold onto a job for a minimum of three months and that
you meet other minimum requirements, such as the amount of
income that you make. Typically, showing proof of your
income is as easy as giving them a pay stub. One other
thing that you're going to need to have is a checking
account that is active and does not have any bad marks
against it, such a bounced checks. You also need to have
lived in the same place for a minimum of three months.

The reason that a no fax payday loan is different is
because you are not required to fax in these various forms
in order to prove that you meet the minimum qualifications.
This is typically taken care of by the payday loan company
by calling the various companies, such as your employer and
the bank to confirm that you actually do meet the
requirements that they set forth. This can really make it
a lot more convenient to use this particular type of
service because you do not have to worry about gathering
all the paperwork together at one time and taking it into
the lending office as proof.

How is it possible for me to receive a no fax payday loan?

One of the easiest ways to get a no fax payday loan is by
using one of the companies that are available on the
Internet. It's not that difficult to find them, they are
heavily listed in Google and available just for doing a web
search.

What is the cost if I were to take a cash advance with one
of these companies?

Keep in mind, these businesses are in the market to make
money and they do a very good job of that. They do give a
service to people that need to get some cash in advance but
they do expect to collect a heavy toll for doing so.
Typically, one of these payday advances last for about two
weeks in which time they will want the money back. Not
only do they ask for the original money back but they also
ask for $25 for every $100 that you borrow. Of course,
this is just a round figure but it is pretty common for
this type of price to be paid on a payday loan. A typical
payday loan is $500 which means that the individual that
borrows that amount of money will end up paying $650 back
to the company.

You are protected to a certain extent by something that is
known as the truth in lending act that was put into process
in 1968. According to this act, any financial institution
that lends you money must disclose how much they are going
to charge you in interest on an annual basis. This is
typically known as APR or annual percentage rate. This
will help you to see how much you are going to be putting
out by taking them up on their offer to lend you money in
advance.

It always pays to be smart whenever you are taking out one
of these payday advances. This is particularly the case
because if you take out too much money and are unable to
pay it back you will end up spending a good chunk out of
each of your next paychecks just to get caught up. Be
careful of the finance rates that they charge and be smart,
only borrow what you need or out you may get caught up in a
web that you're unable to get out of.

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Secrets to Choosing the Perfect Payday Loan Lender

Secrets to Choosing the Perfect Payday Loan Lender
I'm sure that you have seen the commercials on TV for these
types of loans, the ones that are typically known as payday
advance loans. As a matter of fact, it is not possible to
turn on the TV and watch it for any length of time without
seeing this type of commercial. You know the scenario, you
have a problem with your car and you don't get paid for
another week but you can't get to work unless you get that
car fixed. You're stuck in a scenario that happens to
thousands of people on a regular basis. Emergencies do
come up from time to time and it can be difficult to get
through a financial crisis in this type of the situation.
That is why the payday advance loans are so popular with
many people.

If you are unsure about how these payday advance loans
work, then you need to educate yourself a little bit so
that you can make a sound decision on the matter.

The best way that you can decide to which of these loan
companies to use is to ask yourself some leading questions.
Once you understand the answers to these questions, you
will be in a much better situation to accept one of these
cash advance loans.

What exactly is a payday loan?

A payday loan is just a way for a lender to offer you a
short-term loan if you're in a difficult financial
situation. You can get quick money in your hand, usually
within a day but you're also going to be expected to pay it
back in a relatively short period of time. Don't think
that these lenders are in business to help you, they are in
business to make money. That is why many of these payday
loan companies charge a large amount of money for the loans
that they give out.

What things should I look at when choosing a payday loan
company?

Before you enter into a contract with a cash advance
lender, there are a few things that you should take into
consideration. First of all, find out how long the company
has had their doors open for business. The industry tends
to be growing very quickly and it's not unusual for new
companies to spring up in a relatively short period of
time. Make sure that the company has been around long
enough that they have a good reputation in the industry.
The Internet will be able to provide you with details on
these specific companies and you can typically read reviews
from people who are experienced with their business
practices. If you're unable to locate the information on
the Internet, try contacting the Better Business Bureau.
The Better Business Bureau keeps track of companies such as
this and you will be able to find feedback from existing
users, both good and bad.

Another thing that you should consider whenever you're
looking at a payday loan company are the terms of the loan
itself. What information does the company need from you in
order to process your application? The good news is that
many of these lenders will not require a large amount of
information if you mean a few simple requirements.

* You must meet a minimum age requirement, typically 18
years old.

* In order to get one of these loans you need to have a
checking account

* Another requirement is that you have a steady job that
you have held for several months and meet the predetermined
requirements for monthly income.

How much money can you expect from one of these loan
companies?

You would probably be surprised to find out that you can
get up to $500 from a payday advance company if you meet
the requirements. Some companies may be able to even offer
you more in certain circumstances. Go into the contract
with an idea of how much money you need and talk to the
person at the loan company about this number.

What are the repayment requirements?

Although this may vary from loan company to loan company,
you can typically expect to be required to repay the loan
in about two weeks.

Make sure that you ask the right questions before going
into this contract. Making a mistake during a financially
difficult time can put you in a worse situation than what
you started.

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