When the whole world is turning to credit cards as the major mode of transaction, some of us who have been using credit cards for a long time are thinking of having a platinum credit card. It’s a dream of every card holder to have a platinum card. People say it has irresistible sex appeal. Besides that, the main reason people want this card is because it has a way higher credit limit than a regular credit card. The facilities that a platinum card holder enjoys are massive.
While issuing a platinum credit card, the card company would like the applicant to have a very good credit score and a strong and positive credit history. This is required because as the credit limit of platinum cards is very high, the card companies would want to have some sort of assurance that the card holder will pay the bills in time. The best advantage with having a platinum credit card is, it has a lower interest rate than any other card be it a regular or a gold credit card. If you have a good credit score and a good credit history with the company they might just allow you to have the card. The platinum card holders need to have a consistent track record to have the card.
When you are shopping with platinum credit card, you will be earning points for spending each dollar through the card. Whereas regular cards have a fixed point that you cannot exceed. To go with that a platinum card user will have accident, rental car and travel insurance. And as I mentioned above you will also have mower interest rate with a platinum card and have higher credit limit with a frequent raise in the credit score. You will have value added services like rewards, savings, cash back, fraud protection and a lot more.
Platinum cards are offered by card companies to people who have excellent credit scores and a great credit history without any flaw. They would offer these people platinum cards as they mean good business to them and they would not want to miss them. They would do it to set them apart from the people with just good credits. This would inspire both the group of people to have better credit score in the future.
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Posted by ariyes, and filed under Obtaining Credit Cards
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Go in with open eyes and you may just find what you are looking for. Too often people are afraid to look at their credit reports and scores fearing the worst. However, it is better to know where you stand before you try to gain a mortgage, loan, credit card, or even a place to rent. Fear is not just exclusive to those who need a place to live or food to feed their families. It is also sweeping through businesses that have seen many of their fellow businesses fall as a result of the credit crisis.
Credit card companies are only just beginning to bring certain products back in the last year.
With a credit card comparison it can be simple to find the right card.Yet, one needs to be careful of more than just finding the right card to apply for. They have to make sure it is a possibility. Even with lighter restrictions on those who can get credit cards too many things have changed. Banks are still fearful of lending, which means they scrutinize anyone applying for a credit card. It is not impossible to find one. It just requires a realistic mind and the right credit scores.
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26th Jan 2010
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Tags: Credit Score
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Posted by admin, and filed under Obtaining Credit Cards
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In this digital era where almost every moment of our life is laid in the hands of blessings of science, it’s no wonder that a huge section of people today simply opt for the facility of transaction via credit card. If you look forward get hold of such section of peoples business, you must be enabled to offer them payments by credit-cards.
First of all we will be discussing the reasons for which you should accept credit cards, and the fundamentals of receiving the merchant status.
In order to get the merchant status, that actually allows you to accept credit-card payments, might look like an unneeded tussle, especially for those people doing business where the lion share of their customers pay via cash or through checks. But by not accepting payments via credit-cards, you are certain to lose a particular section of your customer that is a part of your sale. This is indeed true especially if your business is a mail order business by nature, or any consulting business. Just by looking at the majority of business at present, you can observe that almost all of them receive payments by credit cards, and along with credit cards debit cards are also becoming popular day by day.
Many businesses have found that, up to 70 percent of people never check their mails, so offering the option of credit cards is of much importance. The time when a customer put forwards an order, he’s enthralled and pretty eager to procure. But, facing the prospect of sending a check, keeping patience for it to get cleared and then again awaiting for shipment, his interest is most likely to get damned. And as a business owner what happens to you is that you lose sales.
The Basics of Merchant Status
In order to be eligible to accept credit cards, you need to establish working relationship with a bank that will do transferring of the money into your account within a certain period after a sale, and eventually will collect the cash from the customer. In return of doing this favor, you will have to pay the bank a commission of (1.5 % -5 % ) for every transaction settled by credit-card.
Then, when you’ll be applying for the merchant status, the banks will assess your business considering its past sales track record, the business type/genre, your past credit record, the overall business’s past credit record and an assessment of financial status of your business.
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31st May 2009
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Tags:
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Posted by admin, and filed under Obtaining Credit Cards
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If you are having problems to pay up your bills on time, then be assured you are not alone. With the current economical condition in such a hassle, more and more number of peoples are facing trouble of shortage of cash flow which results them with the inability to make payments in full or in time. Thus incapability of keeping up with bills drives a persons credit history to be unavoidably less than perfect.
However, you should realize that just because you could not pay your bills on time does not have to mean you will not be eligible to get a credit card. It is true that a person with very low or a bad credit score will be facing more difficulty getting a credit card in their name, but it is not completely impossible to get a credit card in that condition.
This is because creditors take into more than just the credit score factor into consideration when deciding whether or not you deserve a credit card.
You should realize an important point that if you have a poor credit score, applying for a credit card means you are hurting your credit card deeper. Thus, if you have a bad credit history or poor credit scores, you need to practice some research on the market before you apply for a accredit card. You should search for credit card companies that are there for the individuals with less than perfect credit history. These credit card companies make it sure that you have a limited credit card inquires to be placed on your credit report.
When you reach to a credit card provider, the lender take several points into consideration. Credit history is of curse a must, as your overall credit history must be known to the lender which includes how many time you have made late payments, how much credit balance are you having now and how much debt you currently owe. Along with this issue, your lender will ask you for the length of time you have been employed under your current job. Credit card companies will consider those individuals who has stuck to a single job for a long time and has accumulated some decent income from there. In addition, if your debt to income ratio is attractive, that is you can comfortably manage your debt with your current monthly income, then the lender is most probably going to extend your credit even though you have made serious late payments in the past.
If you are working hard to improve your credit score in the future, you are sending as much as money to your creditors each month such that to pay done all your debt. Due to the additional money you are spending, there will be less than money available to you and this you need a credit card in came of any emergency calls.
What if your car stops moving, what if health problems arises or any other such uninvited bad luck hit your luck, you just will not be having any money to defend as you have paid maximum of your pay check to your creditors. This having credit card means it acts as a weapon to fight any emergencies on your way.
You should realize that credit cards for individuals with poor credit histories does go away with higher interest rates than normal credit cards. But as said before having a credit card with higher interest rates is better than having no credit cards at all.
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9th Mar 2009
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Tags: Bad credit history
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