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 Others
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Year after year, thousands of entrepreneurs try to set up businesses in the UK – however, a great number of these businesses fail… but why?
One of the reasons why new businesses fail in the UK, is because recently (due to the credit crunch) there has been a lack of credit available to entrepreneurs looking to start up their own company – so they simply run out of money.
So, if you are looking to set up your own business – what steps could you take to help make sure it doesn’t fail?
Plan what you actually want your business to do
What is it that you want your business to do/achieve? Is it offering a product, or is it providing people with a service?
You need to know exactly what you want your business to do before you invest time and money in it. Don’t just keep this in your mind, write it down and keep a log of all your thoughts. You can look back at these and learn from any mistakes you may make along the way.
Have a clear business plan
Recent research has found that over 60% of small businesses fail because of a lack of planning and ‘execution’ of a business plan ( http://www.familybusinessmanagement….-business-plan ). If you don’t want to add to this 60%, you should create your own business plan.
Your business plan should include your business’ goals and the reasons why you personally think these are achievable and how you plan to achieve them. It should also include the ‘what, why, when, who and how’ of everything to do with your business.
For help compiling your business plan, you could take a look at some of the templates available for entrepreneurs online.
Your business plan is very important. You wouldn’t want a potential investor looking at a few scruffy pieces of paper about your business, would you? So you should make sure it looks and sounds professional.
Make sure you have enough money
This is an obvious point here, but as mentioned earlier, so many business fail due to lack of funding. So, make sure you have enough money to cover at least your first year of business. You should account for all bills and all other expenses (these will be different depending on business type).
What if it all goes wrong?
Business is all about taking risks – and if your risks don’t pay off, you could end up in debt. So… what could you do if it all goes wrong?
If you have invested a large amount of money into your business, and you have ended up in debt because it hasn’t taken off as you hoped, you could consider several options – for example:
1. You could look into a specific debt solution, such as an IVA (Individual Voluntary Arrangement), or a debt management plan – your suitability for either of these will depend on your level of debt, amongst other things. Debt solutions are specifically designed to help people repay the money they owe in an affordable and realistic manner.
Or…
2. You could pitch your business to investors – asking them to take a look at it to see if it can become a profitable venture – and if they think it can, you may still be able to recover the money you have lost (through their investment).
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18th Jan 2010
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Tags: Credit
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Posted by ariyes, and filed under Credit Card Offers, Secured Credit Cards
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In the modern world when credit history and credit scores decides whether we can have an operation or not, it is really important to have a good credit score. We all have experienced a damaged credit score and some of us have been able to over some it. For those who are still suffering and have no clue about what to do, I will try to help you with all my knowledge as a member of credit card company and a smart credit user.
The first thing you need to do is to figure out what are the mistakes that you did as far as the credit card using is concerned. Then you need to make sure that you can avail a secured credit card if you have no credit history or a bad credit history.
Not every one of us knows what a secured credit card is. A secured credit card is issued against an account where an amount of money is deposited. The amount of deposit would vary from card to card but it is at least $250-$500. As soon as you deposit the money it would be taken as your security against the card and you will also earn interest as it is deposited in a savings account. Now what happens is, your credit limit for the card would be determined by the amount of money you deposited. It might be the whole amount or a part of it. Now the important to remember here is, it is not a debit card, it is a credit card. And if you fail to pay the bills at the end of the month the interest rate will go high up. The authority will use the savings only at the last moment.
If you have never used a credit card then starting with a secured card is very useful. It will give you a fantastic credit score and will make you eligible for the best credit card schemes. Not only for the beginners but also for the ones who have a bad credit history, secured credit cards can be mighty helpful for them to repair the credit score.
If you are someone who cannot control when you see those fancy dresses or perfumes and diamond rings, go with this card and you will observe a change in your shopping habit within month’s time. Because it is a fact that credit cards make us extravagant and lead us to buy things and pay high price for things that we do not actually need.
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Posted by ariyes, and filed under Credit Card Offers
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There are so many reasons that can lead to a bad credit score. And we all know what the consequences of a bad credit record are. It is important for all of us to know how credit record. It might sound tough to you and you are not wrong. To be honest credit repair is not an easy task and requires a bit of work. But if you are focused then you will be able to repair it. Some useful tips are given to you, which will help you to start the process.
When it comes to credit, your credit report is of mighty importance. You might find that so many things like buying a car or house even your children’s future depend on good credit report. So credit reports should be given the attention that it requires.
You might be thinking why a god credit score is so important. Well, with a good credit score you are likely to get loans at low interest rates. On the contrary, a bad credit score might give you a high interest rate or even put the bank in dilemma whether or not to give you the loan. I hope now you understand the importance of a good credit score.
It is always the best to seek professional help. But if you are not willing to do that then you could take assistance from the resources on internet. Find help form e books and articles. But make sure the source of assistance is proper rather than being one of those scams trying to grab some easy money from you. Ensure a secured future for your family and yourself.
