Best tips for credit card replacement

The loss of a credit card while traveling, whether halfway across the world or just a few hours’ drive away from home can be an emergency of disastrous proportions. The good news is that if you prepare in advance and take a few precautions while you are on the road, the damage will likely be minimal to both your travels and your finances.

Given is the list of the top ways of credit card replacement to go for.

No delay

As soon as you realize your card is stolen or lost and you need a replacement, call your bank’s emergency contact number. In most cases, you can go to the bank’s website and type in stolen card. There, you will find a link to a page with the emergency toll-free number. If that fails, check the website’s Contact us page for another customer service phone number. Once you report the card missing, the bank will immediately cancel the card and block further charges.

Overseas issue

If you are overseas, some credit card companies have online directories where you can look up the number to call when you’re traveling in a particular country. Or you can check the chart below for the number where you can call collect to report a stolen card and arrange for a replacement.

Cash advances

On an average, it takes five to seven business days for a replacement card to arrive from the date you make the request. If you have other cards or other ways to access funds, you may be able to wait it out. But if you cannot, many banks offer emergency cash advances via wire transfer to tide you over until the new card arrives, as long as the card is not maxed out.

No expectations
Some of your preparation begins before you leave home. You cannot totally prevent a card from being stolen, but you can design a backup plan to make the replacement process as painless as possible. Do always remember that your card does not have to be stolen for you to request a replacement card.

Top credit card processing companies to know about

There are many credit card processing companies that are available in the market and to choose the one that is best for you is to know the features and the various rates and offers that it provides to the customers at the best deals. It is necessary to compare and to find the one that is most favorable for you.

These are some of the best credit card processing companies to apply.

Cayan

This credit card processor offers both tiered and interchange-plus rates. With 0.28% for qualified debit cards and 1.54% for qualified credit cards, its interchange-plus rate of 0.20% + $0.10 is also better than average. Cayan has a monthly fee of about $4.95 and also gives its customers; a low-cost guarantee.

Payline Data

Payline Data is unique in a way that the monthly minimum is derived from the full cost of transactions instead of just the processing costs and that means that you only have to process $25 worth of transactions to meet the minimum each month, which makes it an attractive option for the customers to go for.

National Bankcard

National Bankcard offers both interchange-plus and tiered pricing rates. They provide EMV-ready terminals to its merchants at the lowest prices. The monthly minimum is calculated from the processing costs, but National Bankcard might be willing to lower the minimum in your first few months of business.

Payment Depot

This credit card processing company has an innovative pricing structure. You pay only a transaction fee and the wholesale rate, which is the basic interchange rate and card-brand fee for each transaction and the card-brand fee is a small assessment on each transaction that is paid to the card brand.

Best ways to choose credit report agencies

Finding the best credit report agencies for yourself is not easy. You need to look at many things and carefully consider them to find the one that is best suited to you. You also need to ensure that is not fraud and also helps in you giving additional help for taking care of your financial solutions in the best manner.

Given is the list of the top things to know for finding credit report agencies.

Accredited agency

An accredited agency is one that is associated with the top trading associations in the country. National Foundation for Credit Counseling (NFCC) and the Association of Independent Consumer Credit Counseling Agencies (AICCCA) will help you the best credit report agencies with the help of their websites in where they are listed.

Have license

It is always better to go for those credit report agencies which are licensed. This ensures that they are approved by the government and you can find these agencies on the government websites of the departments that they are entitled to be under, though it is not necessary for agencies to be licensed in order to operate in some places.

Check complaints

Look at the company’s reliability report with the Better Business Bureau. It should be both listed and free of unresolved complaints. Check the Bureau’s website and watch out for companies with a long list of complaints. The number of complaints or the way that these reports are handled speaks about the reliability of the company.

Nearby location

One of the easiest way to choose the best agency for credit reporting is to find the one that is closest to your place. The credit report agencies which are near to your place helps you in providing with in-person counseling. The advantage of having one that is near your place is that is easily falls in the same jurisdiction.

Top hidden expenditures in credit cards

An average American household carries credit card debt, according to a recent survey that was conducted. Most people suffer from financial disasters while dealing with credit cards and it is very important for the customers to know of the ways to handle these crisis situations in a better way and know the secrets of credit cards.

These are the some of the best things to know about credit cards which are generally not revealed.

Late payments

Always avoid late payments while using credit cards. The bank issuing credit card can still bump your APR to 25% or 30% or even higher if you make even one late payment. This Penalty APR will be noted in your card agreement and will be applied to all new purchases and also If your payment is really late, 60 days or more, the bank can apply the penalty APR to your existing balances, too.

Interest rate limits

Most credit card companies  have very weak or even no usury laws and so there is no cap on interest. By law, there is nothing to stop them charging whatever interest they want. It may llok like that 34.99% APRs, especially as a penalty rate is highly unusual but looking at the law and situation, it is quite obvious.

Grace period

Most credit card companies offer grace periods as a form of perk and it is obviously a good deal for consumers but as long as they pay their balances in full and on time. If you do not make payments according to the rulebook,  you will lose your grace period and start incurring interest from the moment you make a purchase.

Better deal

You should always ask for a better deal and if you are not doing so, you ae definitely lose out. most people do not know that this secret that just by requesting the credit card company to give them a better contract for yourself. In addition to that, if you find a lower cost APR card and transfer your balance.

Best credit rating agencies to know

All the lenders use at least one agency when assessing the files. It is very important to always go for the best and the one that has enough experience in this field to help the lenders with their report and find solutions to their problems. The many professional companies in the financial field which gives help in assisting maximize credit.

Given is the list of the top credit rating agencies to consult.

Callcredit

Callcredit is a credit rating agency which collect and store details about customers and their personal credit history. The credit division supplies information to lenders and other organizations to enable them to establish an individual’s credit history, confirm application addresses and monitor significant events which may be indicators of credit risk.

Standard & Poor’s

Standard & Poor’s is a company issues credit ratings for the debt of public and private companies, and other public borrowers such as governments and governmental entities. It is one of several CRAs that have been designated a nationally recognized statistical rating organization by the U.S. Securities and Exchange Commission.

Moody’s

Moody’s play a key role in global capital markets as a supplementary credit analysis provider for banks and other financial institutions in assessing the credit risk of particular securities. This form of third party analysis is particularly useful for smaller and less sophisticated investors, as well as for all investors to use as an external comparison for their own judgments.

Fitch Ratings

Fitch Ratings differently from the other agencies, Fitch has been warning the market on the constant proportion debt obligations (CPDO) with an early and pre-crisis report highlighting the dangers of CPDO’s. The Fitch Ratings’ long-term credit ratings are assigned on an alphabetic scale which were later adopted by other companies.

Top ways to maximize credit limitations

You know that a good credit score plays a key role in your financial well-being. There are many advantages of it like it is for you to qualify for a mortgage or car and student loans. Though an easy way to increase your credit rating is to get a higher spending limit on your credit card.

These are some of the best possible ways to utilize your credit limitations.

Transfer limits

An innovative but risky procedure to apply to maximize credit limitations is to transfer credit limits. Though experts say that it is a bit more tedious and could negatively impact your credit score, many credit card issuers allow card holders to transfer a portion of a credit card’s spending limit to another credit card account, as long as both cards are from the same issuer.

Make case

It is tricky to make a powerful case so be careful. Always make sure you let them known you have a strong payment history, and if your household income has recently increased, be sure to mention it. You should also work in a sensible reason for wanting more credit to give more strength to the case. It is important that you are regularly making payments on time before requesting an increase. Late payments are viewed by issuer’s as a sign of poor money management, which is a huge red flag for most.

Automatic increases

This is the easiest way to increase your limit, as because it does not require you to do anything on your own. Credit card issuers periodically review customer accounts to determine whether customers should get a credit limit increase and you are deemed eligible, you will automatically get your credit limit hiked.

More usage

The best way to convince your issuer you deserve more money is by using your card regularly and paying it back. The process can sometimes require you to put a lot on your card and pay it back for several months in a row before you are able to qualify. Spending money like this shows your issuer you need access to more funds and can handle it responsibly.

Best sites for getting credit reports

Checking these credit reports is important as doing so can help you avoid becoming a victim of identity theft and gives you some idea of your overall creditworthiness. These major credit bureaus offer a way to access the credit reports which needs to be checked from reliable sources as these reports for credit related transactions.

Given is the list of the top sites to check your credit report.

Identity Guard

Identity Guard should definitely be on the radar of anyone looking to view all 3 of their credit reports and credit scores from all 3 major credit bureaus all in one place. When you sign up for their credit monitoring service with a free 30 day trial, you get access to your credit reports and credit scores.

Experian

Experian offers one free credit report every 12 months, in accordance with the FACT Act. This credit report includes information about your accounts, credit history, and any inquiries that have been made. For those interested in getting more than just a free credit report, Experian offers reports from the other two credit bureaus along with credit monitoring, strong identity protection features, and some of the best online tools in the business.

TransUnion

TransUnion is required to provide one free credit report each year, as are the other two major credit agencies. However, TransUnion makes that information really difficult to find on its site, which can be a little irritating for those who know that they are entitled to one free credit report but are not sure how to get it. With this report, you’ll get access to all of your important credit information, including a summary of inquiries, account balances, and information about you from public records.

AnnualCreditReport.com

AnnualCreditReport.com was set up by the three major credit bureaus to comply with the Fair and Accurate Credit Transactions (FACT) Act and is the fastest and easiest way to get your free credit report. After filling out some identity verification questions, you will be directed to the credit bureaus’ websites where you can view your reports and purchase your credit scores.

Top credit repair companies to know

For those having a bad credit score and are not allowed credit cards, needs to mend it. Credit repair services work by helping to remove negative items from your credit report such as late payments, liens, foreclosures, repossessions, and more. But finding the best credit repair service seems like an overwhelming task.

These are some of the best companies to help repair your credit score.

Lexington Law

One of the most reputed players in the field of credit repair services, it has over two decades of experience and has many clients to date who have been served. There is option of giving Lexington Law a call and you can take advantage of their free consultation and case evaluation.

Sky Blue Credit

Sky Blue Credit promises to clean up errors on your credit report and improve your credit score. Their service claims to dispute many items at an good average rate on around fortnightly basis, ensuring one of the fastest working services available and free consultations are available through the company.

CreditRepairdotcom

A value for money company, the pricey creditRepairdotcom is one of the most well-rounded services in the industry. In addition to disputing negative items on your credit report, they also provide 24/7 credit monitoring, a personalized online dashboard, and a credit score tracker.

The Credit People

The Credit People are a credible name in the field of credit repairing. Having the option to pre-pay for credit repair services up front can make it easier on people who have a limited amount of funds month-to-month and the satisfaction guarantee and flexibility on pricing makes The Credit People a solid choice.

Best tips for first time credit card applicants

There are many important decisions to make before applying for your first credit card to ensure that you are taking the right decision and benefit from the credit card in the long run. Getting a credit card can be exciting but you need to choose wisely and apply with care and the make the choice of choosing the right card for you.

Given is the list of the top rules to follow for those applying for credit cards for the first time.

Application rules

There are different ways that one can apply for credit cards. You can fill in a form on the web and may be sent some extra paperwork to sign and send back in the post. You can also fill in a paper form, which you can usually get at the bank that is offering the card and can also make an appointment in the bank.

Check annual percentage rate

While applying for any kind of credit cards, it is necessary to see the annual percentage rate (APR). You should remember that the APR is based solely on the purchase element and does not take into account the cost of balance transfers and cash withdrawals. The lower the APR the better, but you also need to look at how much it costs.

Introductory offers

Most credit card offering organizations present introductory offers to the customers. The most common is to pay 0% interest on things you buy or balance transfers. It is a cheap way of borrowing when you need to buy something big, but you have to time it right and also make sure you can pay off the card before your introductory period ends.

Real worth

There are many benefits that are provided to the customers by the credit card provider companies through the credit cards. Some cards come with benefits like free travel insurance, air miles, cashback or a concierge service. Before applying for any particular credit card, always make sure that they are worth your while.

Top gas credit cards to have

With the prices of gasoline prices increasing in an alarming rate, car owners need to use the credit cards which help you to save money at gas stations. Of course, depending on your situation, a brand-specific card may be your best option and especially if you regularly purchase gas from a qualifying gas station that offers stellar rewards.

These are some of the best credit cards to be used at gas stations.

Chase Freedom

This is a perfect choice for drivers as The Chase Freedom Card is a credit card that awards purchases in rotating quarterly categories, with gasoline showing up as a category at least one quarter per year. Although gasoline purchases might only earn bonus cash back for 3 months, it is offered at a rate of 5%, higher than other gasoline cards with annual limits.

American Express Blue Cash Preferred Card

The credit card gives much rewards for drivers as the American Express Blue Cash Preferred carries an annual fee, but you can earn 3% cash back on gas purchases all year, without any limits or caps. If you spend up to $6,000 per year in supermarket purchases, you will find that the rewards more than make up for the annual fee.

ExxonMobil Preferred Smart Card

The credit card from ExxonMobil is a very worthwhile retail card for Exxon customers who are frequent travelers. ExxonMobil’s gas rewards rate is only slightly above average, but the real value of this card is in the cash back on travel, and stacking opportunity for rewards beyond gas. The ExxonMobil card’s $0.06 credit per gallon is a 1.6% rebate rate on the average cost of gas.

BP Visa Credit Card

For users using gas stations frequently, the The BP Visa Credit Card is an excellent card to keep in your wallet for more than just gas. With the card, you will earn a 5% rewards rate anytime you shop at BP, and 3% on grocery, dining, and travel purchases. When using the card at all other places that accept Visa.

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