A credit score is a numerical expression based on a statistical analysis of a person’s credit files that shows the creditworthiness of that person. So it is important to have a good credit score so you can have lower rate, smaller monthly payment, and speed up credit approval. So it is very essensial to increase your credit score. To know how to increase your score, you need to know how it is calculated. Many lenders use third party credit scoring system such as FICO to evaluate the credit worthiness of a borrower.

If you are using FICO (the most widely used in the mortgage industry). You should understand how FICO calculate your score. They will look into:

1. Payment history (35%). The better you have good payment history, the higher your score. So tips #1: Do pay your bills in time.
2. Amounts owed (30%). The more amounts you owe, the lower your score. Tips#2: Keep your credit card balance low, and pay your debt.
3. Length of credit history (15%). Longer credit history will have higher score. Tips#3: Don’t open a lot of new accounts.
4. New credit (10%). The more you have new credit, the lower your score. Tips#4: Don’t open accounts that you don’t need.
5. Type of credit used (10%). If you have a mix of credit types like credit cards, mortgage, or auto loan, you will have a slight higher score. Tips#5: If you need it you can apply for other credit types. Don’t apply just to raise your score. Remember it only counts for 10% having mix of credit types.

Another thing you have to know is FICO allows “rate shopping” / applying to many lenders for the same loan to obtain a better rate of interest and other terms like repayment schedule. If you use rate shopping, multiple lenders will request your credit report, even though you’re only looking for one loan. FICO® scores distinguish between a search for a single loan and a search for many new credit lines. You can avoid lowering your FICO® score by doing your rate shopping within a short period of time, such as 14 days.

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People these days have got the tendency to acquire things which in fact they actually do not really need. Various technological services and gadgets came into being which in turn targeted a huge market of buyers and this surfacing of new gadgets and things have actually made the people blind.

Since money has become a major concern for us, the people, a new range of financial options and services have emerged. The most known and never finishing mode of financial management option is the credit card.

Although credit cards might offer you convenience and even many people would even vouch for it, it does not actually mean that such conveniences may not actually apply for you or any one for that matter.

There might be several reasons on why someone applies for a credit card. It could be for preparing for a bigger expenditure, or needing more money or even to well manage the finances. Although there may be such different reason to apply for a credit card but one major reason could be the convenience it could bring in. Right now you would have got your own pre-approved or yet to approved credit card offers got junked in your regular mail as well as your email. Because some people are easy to fall prey any credit card companies attract such people by offering no annual fees or low APR and many such offers to them. Mostly these offers are to get the people that are wishing to apply a credit card to sway between deals.

There is no doubt that there too numerous to count pros as well as cons attached to it when you are applying for a credit card, but there are some tips and guides given below which can help you a great deal if you have indeed decided to get yourself a credit card.

There really are three easy to follow steps or rules that you will need to follow if in fact you have decided to apply a credit card. The initial rule is to do the necessary research on the credit cards at the net. If you could do this, you are actually getting yourself familiarizing with different types of credit cards and its types and terms. Secondly you would be able to compare various credit cards that actually would serve you better and also you would be able to apply for a credit card just by filling up the application for the credit card either through online or through a bank representative.

Just make sure that you have indeed become an expert when it comes to knowing the credit card terms to find the ideal credit card the easy and faster way before in fact you apply for the credit card. Before applying for a credit card you must be knowing what exactly is this credit card. Since it involves various charges and conditions as it is just a form of a borrowing option you must know about these before you actually apply for a credit card. Hence it is advisable that you just compare all the fees and
terms involved. Make sure that you know the terms like APR or annual percentage rate, etc.

Before applying for a credit you should know the effects of APR in your credit account. Since it is just a cost of credit which is actually mentioned in an yearly rate, it should clearly be disclosed before in fact you apply for a credit card hence you will not need to be obliged to the bank later. Apart from the APR, the annual rates and other rates should be mentioned to the card holder before you in fact apply for the same, so that the customers would know about the total outstanding available on their credit card. The next most important terms you should know are the interest free period, transaction charges and annual fees involved with these credit cards and other fees and charges involved with your credit card.

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Are you really a newbie in terms of credit cards or you already own a credit card and know a thing or two about them? Anyway you should be knowing that it would take more time than you would imagine to get your credit card application processed.

For the newbie we will see the stage in which how the credit card processing takes place and why does it take so much time to get it processed, etc.

One of the most important thing that your credit card company look into during the stage of processing of your credit card application is that whether you have any account with any other credit cards or not. This is actually the part in which where the credit card company or the bank people will get to the bottom of it to find your records with them. This process will also include for how long did it took for your other credit card to be processed when you applied for the same last time. This actually would mean that they are trying to find out what is your real worth is. You would actually be categorized into subgroups. They will decide here whether are you a good re-payer or whether they would need to toil around to get they payment from you.

If it happens during the processing stage of the credit card they would require your alternative address in which they will have to send the credit card bills and this way they will know that you will indeed pay and they just want to make sure the same. And if you have indeed crossed this stage involved with credit card processing without any major damages then the other step would be find whether you have any unpaid money from other bank’s credit cards or any credit card processing going on with other banks or not. This would simply mean that they are trying to find out your credit card repayment history. This is done to find out whether you do indeed have the better repaying capacity. If you were able to pass this stage unscathed then the next stage would be to find whether you are indeed a US citizen or not. This was due to the latest US Patriotic Act those are trying to get any other thing available in the US they will need to verify their identity because they really did not want it to go in the wrong hands.

The final part involved in credit card processing is to confirm whether all the things are in order and were indeed meeting their standards. In summary, in order for you to get a credit card and its process you must meet the criteria of owning another bank’s credit card if they are active. Secondly you should have been a good payer and thirdly you must be a US citizen.

Although you may have problems and issues when applying for a credit during the processing period, it actually would be a worthy wait. If used efficiently and correctly credit cards can in fact turn into a great tool for your financial needs. It can help in managing ones finances very well. They also bring you convenience since you do not really need to carry money or checks anywhere and everywhere.

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Credit card has always been known by its other name plastic money by people around the world. With the fast paced lifestyle we follow, and with the current economic situation we all want everything to be done in a fast way. This is the reason right from the young professionals to business men and bankers to students are fighting it out to get themselves a credit card of their own from many of the trusted banks or credit card companies.

Credit card applications have indeed take up with the need to get the cold cash and also many are even trading their hard-earned money to give a shot at the charge-it card. Responsibility is what we have been unaware of when it comes to applying for a credit card. Hence when you are planning to get yourself a credit card of your own and even before filling the necessary forms or applications to get the credit card you should be knowing all the counter measures and precautions you should take after you have been approved of the credit card. We all know that it would take ages for the credit card companies to approve our credit card application and also with the recent US Patriotic Act it has become even more difficult to get it approved with the further verification that is involved with to verify your US citizenship. Because of the significance of owning a credit card has become the topmost priority for many in US, they are actually willing to undergo this tedious procedure to own a credit card.

Owning a credit card has become an important aspect in an average American. As he/she owns at an average of at least five to six credit cards and most of them even use them on an average of at least once a day. With such numbers, there is no surprise that there are around 1000s of credit card applications that is being processed currently on a single day. And this rate is surely expected to rise sooner rather than later.

The need to own a debit card or credit card are indeed real and the banks or credit card companies should actually be open to have more applications for the credit card that might actually increase in the very near future. It is indeed important that people are taught on how to use a credit card properly as it is actually their hard earned money that they are spending in such a manner. Hence be ready to fill out the application for the credit card with enthusiasm filled with caution.

Although there may be instances where you might have got the pre-approved credit cards to your mailbox but still you would need to fill in the credit card application as well as the form for acceptance. The reason behind this is the fact that the banks would need to check the identification of the individual that the card has been sent. As also many banks or credit card companies offer the option of applying for the credit card online you can do so to make it easier and convenient as well as faster for you to get the credit card approved.

When you are actually filling the credit card application form, apart from your personal details like name as well as contact details you should also look into the other important facts like hidden fee, offers and other important terms and conditions to make the credit card processing and owning a pleasant experience for you. With these tips and suggestions you can easily make the credit cards work for you rather than the other way around.

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Credit cards have indeed prove to be an indispensible tool when it comes to managing finances these days. Apart from being an easy and best way to obtain credit the credit cards have also made life easier for us on spending the money the ideal way. This is one reason we should be paying more attention in getting the right credit card by making the right decision.

Chase credit card is one of the most popular and widely used credit brand at the moment. Just like other any other credit cards these Chase credit cards is the brand name very similar to that of Visa or Mastercard that is widely accepted worldwide. Apart from the Chase credit card, they also offer cards like student cards, gas cards, and travel cards. There are different ways in which these Chase credit cards can prove to be of more advantageous as well as convenient. The most important feature that the Chase credit card offer is for the working and busy people in which it offers convenience to use. These Chase credit cards are also ideal for those who are very comfortable being online. Apart from the option of maintaining an account online these credit cards also makes it easy for you to pay bills, check balances in a secure manner.

It is indeed convenient to have the Chase credit card because it helps the buyers in purchasing products easily and faster even if they are buying it from the store or online or even through phone. Since being an international card, it would ideally be best suited for those who are travelling a lot and can used across the world wherever the Chase credit card is accepted.

Since it offers various processing alternatives, more people are inclined towards Chase credit card to own them. And they also offer different range of processing options, most are appreciating it when compared with any other branded credit cards. One important offer is that it is accepted widely across the country. They also offer various offers like membership fee waival, low APRs and thus helping the customers to save some money.

There some variety of Chase credit card which offers various types of rewards program for all the purchase that one makes. One type of Chase credit card lets you earn in travel miles for every penny you spend on that card while another type lets you earn in terms of rewards points for the spends you make on it. These travel miles can be utilized on air travel or hotel bookings, etc. While the rewards points can be redeemed for buying gifts from their exclusive catalogue for free. These rewards points surely come handy for you since you get special gifts and rewards just using your credit card for your shopping and travel needs.

Chase credit card is famous for its customer service. Apart from the benefits described above you also get exclusive 24 hours customer service. You can use this service for all your credit card related queries or issues any time of the day 365 days a year. You also get the protection from identity theft.

When you are applying for a Chase credit card you also get the offers like 0% APR for your purchases for a limited period and can transfer funds from other banks at no or low interest rate for limited period. There is also no annual fees for the Chase credit card and hence making it the ideal card for you. You also get the interest free period if you are making your full payment every month which can be an added advantage for your financial needs.

Apart from the above features you should remember that it is in fact a credit card and should know very well on how to use it to get the maximum benefit from it. You should manage it well in such a way that you are not get stuck in credit card debt in the future.

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Business credit card is the most underestimated among the whole variety of credit cards available right now. Because of its complications to use these business credit cards are so well widely used among the regular users other than the business executives and business owners. If used wisely, these business credit cards can in fact proved to be very helpful despite its high interest rates as well as having more requirements to get it.

Business Credit Cards?
These business credit cards are mainly used by the business people. When you just compare these business credit cards with that of the regular credit cards they come with higher limits as well as with low interest rates. Apart from these simple benefits the business credit cards also comes with many other additional benefits.

The main target for these business credit cards are the business men and those who are intending to start a business, they can really come handy and helpful for those small businessmen. They help in cash flow by means of payment extensions for the budding entrepreneurs. One of the major advantage of such credit cards apart from being a dependable card, they give a detailed report as well as giving high quality customer service to its users.

Apart from providing very less interest rates and higher limits, these business credit cards can give you different credit options as well as alternatives for the small businesses. These credit cards also cater bigger companies that are programmed to help those people that are planning to start their own business as well as to help it grow.

It would really be very useful for those who go to the bank and get all their queries answered when they are applying for a business credit card. Since the businessmen who are mostly on the go, to aid them to apply for the credit card the credit card company offers the easy option of applying for it through online. You don’t really need to visit the bank to apply for the business credit card. There is absolutely no need to be in the queue to get to the representative of a bank. Just when you are applying for the business credit card online, you can choose the option that is ideally suited for your needs in terms of small business or credit requirement even from your office or home. Apart from giving you the option of simple secure, and safe process which are made to help you get the features like online reporting and payment. You can even get customized logo of your business as well as the option instant cash can be availed online. Some business credit card even offer detailed and elaborate reporting for easy access and monitoring.

Some business credit cards also offer first year free fee and no limit on spending as well as nil finance charges option. They also offer a great and easy to access rewards program that would easily help the users to earn points on various usage of the credit card.

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Today in India we have about 20 million credit cards and each of them boasts to be unique and claim that they have an exclusive clientele base. In such a scenario what makes the Life Insurance Corporation of India (LIC)’s credit card unique is the fact that it is being launched for the benefit of the policy holders. They aim to become one of the 1st insurance companies in India where the client will be able to pay for his/her own premium through the LIC credit cards. They aim at initially being able to provide these services to a select section of their HNI clients and to then extend it to others. In order to do this, LIC has entered into an agreement with Corporation Bank. They hold a 27% stake in the bank.

Earlier, LIC had planned to team up with GE Money but as their partnership did not take off, they decided to team up with Corporation bank. Like said earlier, the main aim of LIC for entering into the credit card foray is for the benefit of its existing policy holders but they are also aiming at being able to leverage on its large customer base and the wide distribution network that it comprises.

The LIC credit card that is planned to be launched very soon will be a white labeled, co branded card as a result of the joint venture between the Corporation bank and LIC. These cards will not be offered free of cost to LIC’s policy holders but a nominal fee will be charged for it. LIC aims at being able to provide value adds to its customers by offering services for free or for a very low price. They are also working towards a low interest rate of about 0.9% - 1% per month wherein most other cards charge 1.9%-2.2% per month. A wholly owned company called the “LIC cards services ltd” will be in charge of all the aspects of the credit card. The Corporation bank shall be extending its existing credit card facilities to LIC to enable use of both its Master and Visa card. By this joint venture they also aim at being able to leverage on the Corporation banks strong brand and wide branch, ATM and sales distribution network.

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Time to pamper the customers! Citibank, with its new credit card ‘Platinum Select’ plans to do that. Citibank has tried to give a personal touch to card holders by giving special privileges like dining, shopping, recreation. Mumbai and New Delhi citizens are going to be the first ones to experience this new launch by Citibank.

Citibank is going to charge you 4000 rupees annually for this Platinum Select credit card. Let’s see, what it offers to you, customers. The card has low interest rates; good earn rates, improved security and fraud cover. The preferential privileges it offers to its customers are going to be much liked.

You can earn about five times the reward points on your purchases of apparel, and books. For redeeming the reward points, you can either have them converted to airline miles, or redeem it in-store from the rewards catalogue. You can also enjoy dining privileges at over 150 premium outlets; year round discount of 20%, complimentary beverages and desserts.

Talking about luxury, well…, as a member of Citibank Platinum Select card, you can even enjoy 50 % discount on buffet lunch at Taj properties for up to six persons at a time and 50 % discounted stay at Taj hotels on weekends. It also gives discounted access to you and your companion at 15 signature gold courses. There is something more; you can spend your weekends at swimming pools, spas, and health clubs of some of the best hotels. And if you are their top spenders then you can even enjoy services of a chauffeur- driven sedan and free tickets to a movie show at few multiplexes.

Industry lowest interest rates, dedicated priority service and enhanced fraud prevention features are few highlights of this card. You, as platinum Select card holder, can enjoy coverage of Rupees 50,000 for financial loss caused due to false use of card. The card also comes with built-in insurance of 1,50000 for house burglary, 10000 for passport loss on foreign travel and 40000 for loss or damage of items purchased.

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