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Must-Read Tips for Getting a New Card with Bad Credit

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Getting a new credit card with a bad credit score is difficult, especially the regular ones that offer bonuses, perks, and a low-interest rate. However, with a set of intelligent decisions and some patience, you can get such a regular credit card. This article will discuss what kind of credit cards you can get with a bad credit report. By using these cards, you can improve your credit report and qualify for a regular credit card. Get a secured credit card You can get a secured credit card even with bad credit because a security deposit from you backs your credit. When you close the credit card account, your deposit will be returned. Until that happens, you should use your secured credit card for your transactions, and you must pay the full amount on or before the due date. A consistent history of timely credit card payments will enhance your credit score. Someday, it will be enough to upgrade your secured card into a regular card. Get a store card Like

10 Ways to Protect Your Finances While Traveling

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Vacation is a time to unplug and relax, but that doesn’t mean it’s an excuse to drop the ball on financial security. From maintaining a tight travel budget to protecting yourself from credit fraud, theft and missed bills, it’s important to head into your next trip with a smart financial protection plan. Here are 10 ways to prepare your finances before, during and after traveling. 1. Set your budget beforehand Before booking plane tickets or a hotel room, it’s vital to map out your overall vacation budget. How much can you afford to spend? Come up with a reasonable number and build in some wiggle room in case anything unpredictable happens along the way. If your budget is tight, get some frugal vacation inspiration from this list of cheap travel ideas. 2. Notify card companies before leaving If you’ll be racking up charges on your debit or credit card over a short period of time, it’s a good idea to notify your bank or credit card company beforehand to avoid any disruptions

Hidden Ways Your Credit Score Could Be Affecting You

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If you’ve ever wondered whether it is possible to get through life without taking out a loan or going into debt, look no further than the United States national debt. Despite boasting the highest GDP of any nation, our government still has more debt than any other country. This shows that debt can be an important part of anyone’s financial strategy. Debt is like fire: If you know what you’re doing with it, it can be a great tool. Used properly, loans can help you buy a home, pay for a car, or even invest in dividend-yielding assets that pay themselves off over time. But fire can also cause burns. Similarly, when used improperly, debt can quickly pile up and destroy things like your credit, limiting your ability to get loans or qualify for a credit card. Your credit score doesn’t only impact your ability to take out loans. Sometimes you may receive credit checks without even realizing it. Bad credit (which is considered any score below 580) can sneak up on you in all areas

Risks of Withdrawing Too Much Cash During a Crisis

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In times of uncertainty caused by natural disasters, people wonder how safe their money is in a bank. Weather-related events like earthquakes, hurricanes, and snowstorms can block roads and cause power outages, driving a temporary need for extra pocket money . During a public health emergency, however, needs are different. In fact, taking too much cash out of the bank may put you at risk of loss. In a bank, your money is insured. At home, it is not. How do the FDIC and the NCUA protect my money? In the 1920s and early 1930s, the Great Depression caused a financial panic . It was not uncommon for people to worry about losing money to a bank closure during times of insecurity. So, in 1933, the federal government stepped up to ensure bank account security. They created the Federal Deposit Insurance Corporation (FDIC) for commercial banks and the National Credit Union Administration (NCUA) for credit unions a year later. Both agencies insure accounts up to $250,000. Today, the

5 Things to Know Before Your First Loan Application

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  If you're considering applying for your first personal loan, it’s important that you know certain information, both so you can provide it to potential lenders and for your own awareness. Some of these things you may know off the top of your head, like your income, but there are also things you'll want to look into before you apply for your loan , such as your credit score. Let’s dive into what you need to know before you apply and why. 1. Credit score and credit history A good credit score and credit history show lenders that you pay your credit obligations on time. The better your credit, the better your chances of securing a loan at the most favorable terms. The best terms can save you thousands over the life of your loan. For example, here’s what a 2- or 4-percentage-point difference in interest can mean for your wallet on a $25,000 loan paid over five years: Interest rate Monthly payment Total interest paid 6% $483 $3,999 8% $507 $5,415 10% $531 $6,871 In this case, the d

When You Need to File Bankruptcy

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Bankruptcy is designed to give people a fresh start when they need one, but it is a last resort. Here's everything you need to know about filing for bankruptcy. It’s never fun to consider declaring bankruptcy. But, believe it or not, bankruptcy can be a smart financial decision in certain situations. Bankruptcy’s designed to give people a fresh start when they need one. And if you file for bankruptcy, you’re taking a big step towards getting your finances under control. That’s a

Cash Flow Management Mistakes that Kill Your Business

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Proper cash flow management is a crucial factor to consider for every business out there. If you are not paying close attention to the money coming in and going out in your business, you are bound to fail in the long run. When it comes to managing cash flow in a business, people make plenty of mistakes. In this post, we'll highlight eight common cash flow management mistakes that can kill a business. 1. Lack of Proper Sales Estimation If you are running a business that sells products, you need to estimate your sales properly, or you'll end up failing big time. Some people overestimate their sales, which is why they fail mostly . Although it is critical to be optimistic, entrepreneurs are highly advised to be realistic to avoid compromising their businesses. Objectifying your sales is a cash flow mistake that you need to avoid at all costs. Therefore, it is essential to apply historical evidence when estimating your sales to help you have real numbers. The challen

Got a Raise? This Is Your First Move to Make in the New Year

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Don't blow the opportunity to make the most of your boosted paychecks. Not everyone is fortunate enough to get an annual raise. But if you have a higher paycheck coming your way in the new year, it's important that you put that money to good use -- namely, by not spending it. Of course, that's easier said than done. When your paycheck is suddenly more robust, the temptation to spend can increase. But that could, in turn, stop you from meeting your financial goals. That's why there's one important move you must make right away if you're getting a raise -- set up an automatic transfer to your savings account. A seamless approach to saving money With an automatic transfer, you arrange for a portion of each paycheck to go directly from your checking account to your savings account. That way, you avoid the temptation to spend that money, and instead ensure that it's socked away for more important things. At minimum, aim to save the exact increase your r

3 Simple steps to create a debt payoff strategy

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You’ve made the decision to get rid of debt, and you're ready to fully commit to team #debtfree. But creating a solid debt payoff strategy can be a challenge. This is especially true if you have a mix of revolving and installment debt, including student loans. Should you use the snowball method or avalanche method? What about the debt snowflake method? And before you go looking that one up, no, it's not a legit debt payoff strategy! Instead of getting hung up on different payoff methods, use these three simple steps to craft your debt payoff strategy. 1. Write down all your debts With the myriad of ways you can get into debt, it’s no surprise that you might not actually know exactly what type or how much of each debt you owe. Track your account statements and order a copy of your credit report. Check the National Student Loan Data System for your Federal Student Loan debt obligations and their associated servicers. Make note of the following for each obligation: Curre

Student Debt | Tips for Coping with Student Loan

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Are you having difficulties in paying your student loan? Do you think that it is impacting your mental and physical health? You are not alone. Many are going through this phase. It would help if you acted intelligently to minimize the stress and pay your loan on time. You might find it a bit hard due to your ongoing financial trouble. However, there are many ways to cope with student debt. You will have to research all the possibilities. After thorough research, you will find yourself in a better position . Focus on your current financial health. Try your best to minimize your expenses. You need to pay your student loan on time. Otherwise, the consequence can be severe. You will have to avoid such a condition. You might be thinking about how to do this. We will help you with some practical suggestions. Keep reading to find ways to cope with student debt. Try to Avoid Any Default Your objective is to avoid any default payment. You will have to avoid any delay to prevent d