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If you are a business owner, then you should be especially concerned about building business credit. Let’s talk about the basic facts that you should know about building business credit history.

What details are contained in your business credit report?

Just as consumers have personal credit reports, big and small businesses are also required to build a separate credit history for the company.

When applying for a business loan or business credit card, lenders and business credit card issuers will be evaluating your application based on your business credit report.

A business credit report contains information about your company such as the type of business you have, when it was established, payment history, the types of credit under your company’s name, and other important details.

Who looks into a business credit report?

Lending companies, insurance providers and even prospective investors will take a look in your report before making agreeing to make a transaction with your company.

What if you don’t have a business credit report?

Perhaps you may feel that building business credit is not necessary. Howev

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Tags: Business Credit, Credit

Do you ever toy with the idea of paying off your credit card debt slowly rather than paying your balance off in full? It can be appealing. After all, someone’s giving you what feels like free money to go out and buy what you want right now even if you can’t afford it right now. As long as you make minimum payments each month, they’ll be happy and all will be right with the world, right? Not quite.

Have you ever really thought about how much your credit card debt would actually cost if you paid it off slowly? How long it could take might surprise you. The amount of interest you’ll pay over time could downright shock you. Don’t give the credit card companies the upper hand. Before deciding to settle into long-term credit card debt, consider the following question:

Is any purchase worth a lifetime of debt?

A lifetime of debt could be precisely what you’re in for if you pay only your minimum payments on your credit card debt. While you can certainly minimise the damage by paying more of your debt off each month, let’s take a look at a worst-case scenario and what different current debt levels could actually cost you before they’re paid off.

In this example, let’s pretend you have a credit card that charges 17.99% interest on purchases, like the Woolworths Everyday Money card. Because you’re ca

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Tags: Card Debt, Credit Card, Credit Card Debt, Debt

Student loans provide the much-needed financing for those who want to pursue a college education. Without these loans, it can be very difficult for a student to cope up with schooling expenses such as books, supplies, allowance, and more. Even with their parents’ support, acquiring a loan is still a big help especially during these times of crisis.

In this article, let’s talk about college loans provided by the government and loans provided by private lending companies.

Student Loans Funded by the Government

Federal student loans are classified in two main categories- Stafford federal loan and Parent PLUS loans. Stafford loans are offered for students who can’t afford schooling on their own while PLUS loans are especially offered for parents who have that are dependents about to enter college.

There are income qualifications to be eligible for the subsidized Stafford loans. A subsidized loan frees up the borrower from paying the interest rate of the loan. Meanwhile, unsubsidized Stafford loans are available for anyone with good credit history. If yo

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Tags: Loans, Student Loans

The House of Representatives passed a bill to move up the effective date for the new credit card law to Dec. 1, 2009. The original effective date was August 2010, which then moved to February, before this new bill was passed because lawmakers sensed that credit card companies were conducting unfair practices since they knew they would soon be restricted by the law.

Unfair Credit Card Practices

There have been reports from cardholders around the country for many months that they’re credit card issuers have been participating in unfair practices. Some of these practices include double-cycle billing, unexplained interest hikes, drastically lowered limits, and even card cancellations with no explanation. In addition, credit card companies had left bad tastes in many mouths because of their insistence upon coaxing financially-inexperienced college students into signing up for cards in exchange for freebies, resulting in many teens and young adults having damaged credit.

The Affects of Moving the Effective Date

Lawmakers hope that by moving the effective date of the new law, cardholders will be able to breathe a much-needed sigh of relief.

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Tags: Card Law, Credit Card Law, Date, Effective Date

Diamonds are a girls best friend but sapphires are everyone’s best friend now with the new Chase Sapphire card.

With the new Sapphire card, Chase is also unveiling it’s new Ultimate Rewards Program. This program lets your rewards be redeemable for almost anything you want.

Some competitor’s reward credit cards charge you an annual fee, but not the Chase Sapphire card. What sense does it make to let you earn cash back and then take it all away by charging an annual fee? Chase understands you, the customer. That’s exactly why they are giving you the Sapphire card.

Once you apply and are approved for the Chase Sapphire with Ultimate Rewards credit card, you can start using it. Once you make your first purchase, Chase will give you 10,000 bonus points. That’s right, 10,000 bonus points just for using your card.

As with some other reward credit cards, you can earn one point for every dollar you spend. If you shop online with Chase’s preferred retailers, at the Ultimate Rewards Mall, you can earn up to 10 bonus points for every dollar. That gives you the opportunity to earn ten times the rewards when you shop with over 300 retailers. With that k

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Tags: Chase Sapphire, Rewards, Ultimate Rewards