Category: Credit Cards

Using Kids Credit Cards To Teach Responsibility

Posted By : at 01.11 am

Kids credit cards are something that will give parents options on how to teach their children money management and ensure that their financial activity as they grow up is solid and beneficial. One of the best features of having a kids credit card is that it can be preloaded with a determined amount of money to show children that this amount is the extent of their limit, and if they are going to make it last they will need to learn how to budget it. This of course is a skill that will last them throughout their entire lives.

Keeping your kids financial education going in the right direction, you will sometimes need to refer to Internet websites that are dedicated to some of these scenarios regarding kids credit cards. There you can also brush up on your own financial planning and ensure that safety for the entire family is met. Looking at generations to come, there will most likely be a need to ensure that the children in your family have everything available to them as far as knowledge about finances go. And will hopefully your discipline with finances will rub off on them to the point of them being responsible in many different financial endeavors.

One way to come across some of this information is to look up many different websites on the Internet that might have information leading to kids credit cards and some of the fees that are involved. This might be a deciding factor because of the fact that if you use ATMs more than online transactions or store buying for your purchases, there could be fees of up to $1 $2 per transaction for withdrawing money from these portable machines.

With kids credit cards, you can restrict many of these transactions and some even have the capabilities to limit them to purchases at certain types of stores or eating establishments. These conveniences are definite pluses when it comes to not only teaching your kids money management, but using kids credit cards in many ways to track financial activity. The software that was developed to give you this tracking information comes from hard working designers, who are family orientated and feel this is something important in kids lives today

Always finding new ways to be creative with your financial activity is a healthy way to keep your finances in order. Using kids credit cards to help in tracking family expenses can simplify the situation to the point that you will have to run a report about the activity on parameters that you set, and can base your financial activity from that.

For more information on kids credit cards, please visit our website.

Categories : Credit Cards

Business Credit With No Personal Guarantee:10 Key Steps To No PG Credit

Posted By : at 07.01 am

What is the #1 reason to build business credit with no personal guarantee?

For starters you’ll finally stop putting your personal credit and assets at risk when securing the financing you need for your business.

Secondly, you can expect to qualify for much larger amounts of financing since businesses have 10 to 100 time’s greater credit capacity than individuals.

So are you ready to get started?

Here are ten steps to qualifying for business credit with no personal guarantee:

1) Select a business name – Avoid a company name that would reflect your business as being in a high risk industry. For example, John Doe Business Development, LLC is much better than John Doe Real Estate Investing, LLC. Many lenders and creditors will immediately raise a caution flag when they see that your company is in a risky business so avoid this mistake at all costs.

2) Incorporate your business and obtain an Employer Identification Number -Select the proper entity structure because it impacts critical areas such as taxes and asset protection. Your EIN number will be the number that identifies your business and will be used on credit applications and corporate documents.

3) Obtain your business license – Verify what license is required in order for your business to operate legally in your city, county and state. This information is verified by the business credit bureaus so make sure you take the necessary steps to be in compliance.

4) Select the appropriate business SIC and NAICS code – These are classification codes that identify the type of industry your company is involved in. Remember, avoid high risk classification codes like 6531, 6798, 237210, and 522292.

5) Establish a real business setup – This includes many factors including but not limited to a business address, licensing, 411 business listing, dedicated email, company web site, and a host of other compliance checks.

6) Set up a business bank account – A bank account rating will always play a part in determining the creditworthiness of your company. So you should maintain a healthy balance in order to at least achieve a low 5 rating.

7) Get a Duns Number -A Dun and Bradstreet number will be your company’s identifying number which you will use when applying for business credit without a personal guarantee.

8) Develop your company profile – Once you obtain a DUNs number you will need to register with iUpdate so you can complete your profile.

9) Establish a business credit score – If you have existing trade references you should add these to your file. DNB is the only bureau that allows this and once you have a minimum of three trade lines reporting your company will have a Paydex Score.

10) Start applying for business credit with no personal guarantee – There are less than 6,000 companies in the country that are willing to extend credit to companies like yours. Some offer terms as short as ten days while other may extend terms up to ninety days or more.

As you work to build solid bank and business credit ratings you can eventually qualify for business credit cards with no personal guarantee.

Remember, a personal guarantee obligates you to personally repay a debt that your company defaults on. The stronger you can establish your company’s creditworthiness the less importance your personal credit and guarantee will play a role in the credit granting process.

Categories : Credit Cards

How to Avoid Credit Card Fraud

Posted By : at 09.51 am

So many people across the globe are affected each year by credit card fraud and identity theft. It has become a priority for governments to enforce laws to help prevent consumers from having to suffer this awful experience. Although these laws are in place, it does not completely prevent credit card fraud from taking its toll on a person’s credit rating and bank account. It is more important than ever to keep yourself safe from fraud by guaranteeing personal information is secure.

The easiest way for a thief to steal your credit card information is to steal the credit card itself. This form of credit card theft is the easiest to trace and the easiest to catch early on. It’s always important to keep your card on you at all times and check regularly that it is still in your possession. Don’t leave your purse or wallet unattended and if you are mugged o r your purse is snatched report the crime immediately. Most credit card companies will reimburse you for any unknown transactions but the sooner you report it as missing the easier it will be to avoid disputes over which transactions were made without your knowledge.

Credit card statements are also a great way for thieves to get a hold of your information. It’s best to avoid paper credit card statements all together and opt for online statements that give you more up to date information and privacy. If you must use paper statements be careful about how you store and dispose of them. Make sure that you always keep important papers in a safe place and shred any documents that contain your credit card statement before you throw them away.

While this may seem like a hassle, it could save you a lot of trouble down the line, so play it safe. You never know who might be going through your garbage.

Never give out your credit card information over the phone unless you are making the call to a reputable source that you know and trust.

Even though most of this may seem like common sense, scammers know how to be manipulative and can often get the majority of uninformed people to fall in their trap. If you have a concern about a company that has contacted you, it’s always a good idea to write down the name and number of the organization and check it out with your local consumer protection office or Better Business Bureau. If a scammer is contacting people in your area, you can protect others and help put a stop to their actions by notifying the proper authorities. In all honesty it’s never a good idea to give out credit card information over the phone. There is always the chance that the wrong person could over hear you and write down your information but sometimes it will be necessary just make sure you are careful about it.

It’s now in these times that you are at the worst risk of becoming a victim of credit card information theft when you use your card on the internet. There are multitudes of ways that people can get a hold of your information so it’s extremely important that you are particularly careful when making transactions over the internet. For starters, NEVER give out your information directly to anyone that you are uncertain about. Most individuals or small internet companies accept payment through trusted third parties such as paypal or neteller who protect your information and keep others from gaining access to it. If these sorts of payment methods are not an option then it’s better to just avoid making a purchase with them entirely unless they are a very well known and reputable site such as Amazon. Even when making a purchase with a major site be sure to check the URL and do not use links given to you via email. Never give out your information to someone who requests it via email even if they say they say they are from your bank because banks would not ask for such information.

When making a purchase over the net make sure you always use your own personal computer to make transactions. There are lots of programs out there that allow people to see every keystroke you make and if one of these programs happen to be on the computer you’re using at the time it could log all of your personal information making it quick and easy for a thief to access. Some spyware works in much the same way so when using your computer be sure to run anti-virus and anti-spyware checks regularly to locate any security problems.

Finally, check your statements regularly for any unknown transactions.

Sometimes thieves will get a hold of your information and wait months before they make a move and other times they will just take a little bit at a time in hopes that you won’t notice. There is a reason that credit card companies provide you with a statement so make sure that you check yours every single time you receive one.

Credit cards are extremely convenient and provide a valuable service, so don’t let all of these tips make you nervous. In many ways credit cards are still safer than cash because if your card is stolen you can still get the majority of your money back. Play it safe and report any problems early and you’ll be able to enjoy all the benefits credit cards have to offer, without the headaches.

Author and publisher since 1999. Articles, stories and commentary have appeared in national magazines and are published on the internet. Mr. Fabiano has also been a featured speaker at online publishing and affiliate marketing conferences in the US, Canada and Europe. Credit Cards

Categories : Credit Cards

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