Package Deals and Exclusive Offers

by John_S on August 11, 2014

Bank customers looking for rewards credit cards are offered plenty of choice, including unsecured rewards cards. Some issuers offer low introductory interest rates and annual fees while others feature freebies and discounts, including bonus points toward flights, access to entertainment, and more.Credit Card

In addition to complimentary bonus points and attractive redemption plans, rewards credit card offer many benefits such as exclusive offers and store discounts. Cardholders enjoy added security while shopping abroad and plenty of benefits, including double and triple points at select and participating retailers. There are credit cards with added perks such as low annual fees, low balance transfer rates, and long grace periods. Many credit cards come with rewards points offered on gas and retail store purchases. Every time holders charge purchases to their cards, they earn bonus points or airmiles. Customers who opt for online statements are offered green points. Customers can choose from different membership levels, annual fees, and packages. Issuers offer different types of rewards, including travel and driver’s rewards. Priority pass membership discounts are available. Business cardholders are offered benefits such as business services and discounts on office supplies. Last-minute deals and other discounts are also offered. In addition to promotions and special offers, customers are offered the option to redeem their points toward car rentals. The number of points you can accumulate over a certain period depends on the type of card you use. Exclusive offers and discounts are available with many rewards credit cards for enhanced shopping experience. Issuers feature discounts by brand-name merchants such as Budget and Avis, offering discount and budget rentals. Instant rewards are also offered.

Choosing the Right Type of Card

There are many credit card issuers, including major and small banks, non-bank issuers, credit unions, online banks, and others. The major banks offer more diversity, including VISA, MasterCard, and American Express rewards and airmiles cards. Most card issuers offer unsecured credit cards to creditworthy applicants with stable income. Shopping around is the best way to find good offers, and you may want to use a payoff calculator as well. It may come as a surprise, but there are secured cards that feature rewards programs. Secured credit cards are usually offered to customers with fair and poor credit, and secured rewards cards feature benefits such as travel accident insurance and bonus miles. Of course, customers who choose this option are asked to make a security deposit.

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Factors That Determine the Credit Limit

by John_S on August 7, 2014

Customers with a history of delinquencies and excessive debt are often turned down. Financial institutions consider both negative and positive information. Applicants are asked whether they work part- or full-time or are self-employed. Borrowers with additional income sources, including rental income and money deposited in a savings account are offered better terms. The interest rate and credit limit are subject to change. The limit is subject to change, and credit improvement is an important factor. Financial institutions look at different factors, including recent hard inquiries and others. The number of recent delinquencies is taken into account. Many finance companies and banks look at the credit report to make sure that the limit offered is adequate and fits the borrower’s repayment capacity. 

There is a selection of financial products on the market, including secured cards with reasonable limits. While some cards have a limit of $300 or $500, there are products with better terms. Financial institutions focus on factors such as length of credit history, income, amounts owed, and others. Other factors that financial institutions take into consideration include the applicant’s debt-to-income ratio and repayment history.

Secured credit cards application

Banks are mainly interested in whether applicants manage credit responsibly, and the first step is to make timely payments to boost your score.There are things to do to repair your credit score, and one is to obtain a credit card with a small limit and make timely payments. Obviously, you will get a higher limit if you are considered creditworthy. The details are outlined in the cardholder agreement. These details are important, and some issuers offer the option to earn interest on the amount deposited – this is a good way to offset some of the costs. And while many issuers offer cards with reasonable limits and other benefits, applicants who have declared bankruptcy and borrowers with outstanding lines of credit are often turned down by providers because they are considered risky.  Some issuers accept applications automatically but the best way to find out if you qualify is to visit a local branch. Banks offer different types of cards, including entertainment, business, and purchase cards, and the chances are that one or more will match your profile.

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Additional Sources of Business Financing

by John_S on July 19, 2014

Business loans are offered to start-ups, entrepreneurs, corporations, and new and small businesses. Borrowers can choose from different financial solutions such as commercial and business term loans, cash flow finance, business loans and lines of credit, and others.

Long-term and Short-Term Loans

Applicants for business funding can choose from disaster and real estate loans, micro-loans, and others. In addition to loans under government programs, credit unions and big and small banks offer different financial solutions. Basically, financing falls in two main categories, secured and unsecured. Secured loans require some form of collateral such as real estate holdings, machinery and equipment, interest earning deposits, inventory, fixtures, and others. A good credit score is the main requirement for an unsecured loan. Other types of financing include peer to peer loans and equipment cash out refinance. Borrowers who opt for equipment and vehicle loans can use the funds to purchase machinery, trucks, vans, and so on. Long-term loans are also offered to finance the purchase of real estate, rental estate, equipment, industrial plants, and facilities. Other options are permanent, interim, and income-producing financing. Micro-loans are another option for small businesses, and they are usually offered by non-for-profit organizations. You can use the funds to purchase supplies and materials or as working capital. The interest rate usually varies between 8 and 13 percent. Short-term loans are another option if you need cash for purchases, inventory, or accounts payable. In addition, there are small business loans under different government programs that come with attractive interest rates.

Requirements and Criteria

Financial institutions run a credit check and require that all applicants submit supporting documentation. You may need to submit your profit and loss statements and current balance sheets. Most financial institutions require that borrowers present their personal and business financial statements, along with their cash flow projections and income statements. Your lender will look at your financial statements, including your tax returns, payments and outstanding balances, liabilities, and assets. If you are applying together with a cosigner, you need to present recent paystubs. Legal documents to submit include commercial leases, franchise agreements, and others. If you apply for a secured loan, you should bring a collateral document with you. You may want to explain whether you will use the funds for business expansion, product development, or your current near term expenses.

Alternative Arrangements

Secured and unsecured working capital loans are available, and the latter are offered to customers with a good credit profile. New business owners can choose from bank and buyer financing. Business acquisition loans help companies to purchase existing businesses.

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Investment Strategies and Other Factors

by John_S on May 1, 2014

There are different types of funds to consider as alternatives to traditional investment instruments. Some funds focus on long-term capital growth while others offer benefits such as a balanced mix of liquid and illiquid investment instruments. Hedge funds also offer benefits such as comparatively lower leverage and higher liquidity, but there are risks and disadvantages such as transparency and liquidity.iStock_000008642715XSmall

Consumers often invest in hedge funds to benefit from strategies such as arbitrage and selling short and to grow their savings. Hedge funds offer downside protection meaning that they help improve the customer’s return and risk profile. The main downside for investors is that managers are allowed to borrow large amounts of money, and this can lead to poor performance. Another problem is that regulatory bodies and investors themselves are unable to keep track of performance. Managers take more risk to improve performance because their fees are also based on the fund’s performance and returns. Investing in a mutual fund is one alternative, but it is important to weigh the risks and potential problems. Mutual funds come in different varieties and invest in money market instruments, bonds, stocks, and other investment vehicles. One of the main benefits of mutual funds is that they are structured as liquid investment vehicles.

There are some limitations, however, and one is that they can be traded at the end of the day. The fact that there are no sales commissions or transaction fees makes mutual funds popular with investors (http://www.canadabanks.net/default.aspx?article=Investing+in+Mutual+and+Hedge+Funds). They also allow subsequent investments and invest in different asset classes, which translates into automatic improved diversification. When looking into mutual funds, investors take into account factors such as risk-to-return, performance, investment solutions, and others. Managers use different investment strategies and often consider factors such as growth, value, and yields. Whether to invest in mutual funds depends on your investment goals – to grow your savings, save for retirement, or anything else. Ongoing fees and charges are one factor to consider. Investors are often unaware of the tax consequences, and this is one factor to consider. Make sure you ask about the operating fees as well.

Besides mutual and hedge funds, investors have plenty of solutions and schemes to choose from, including high-interest savings accounts, certificates of deposit, Forex trading, and others. While stocks are more volatile, bonds are safe to invest in. There are other types of investments such as futures, options, and so on. Make sure you consider the costs, fees, limitations, amount required, and other factors.

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How to Build or Rebuild Credit

April 27, 2014

There is a wide array of credit cards available, depending on factors such as employment, level of indebtedness, and others. Clients can choose from rewards, airmiles, no annual fee, student, and other types of cards. Customers with very good credit who are frequent shoppers or travelers can choose from a selection of credit cards. There […]

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Applicants with a High-risk Profile

April 22, 2014

There are different types of financing, including installment and auto loans and cash advances. They are offered by different financial establishments, including banks, savings and loan associations, and others. Banks usually offer unsecured loans to borrowers with a good credit score because the risk of default is higher. There are different types of unsecured loans, including […]

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Grants, Revolving Lines of Credit, and Venture Loans

April 15, 2014

Peer to peer lenders, banks, credit unions, and other lenders offer business loans. Loans are offered to small and large businesses in different industries. Business Loans and Requirements The main types of financing include loans and revolving credit such as lines of credit. Loans are offered under different government programs, and the terms vary depending […]

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Bank Loans and Vendor and Supplier Financing

April 10, 2014

Big and small businesses use debt financing to expand to new markets, develop new products, and finance purchases. There are different options available depending on the applicant’s personal and business credit score, loan purpose and amount, financial and bank statements, and other factors. Finance companies and microlenders are two options for borrowers with poor credit. […]

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Specialty and Standard Credit Cards Offered by Banks and Non-Bank Issuers

April 8, 2014

The cards have two options for borrowers with a history of foreclosures and late and missed payments. There are benefits to using a secured card, and one is that the borrower’s payments are reported to the credit bureaus. This is one option for borrowers who are turned down by issuers offering unsecured credit cards. Customers […]

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Auto Financing Options for Budget-Conscious Borrowers

April 5, 2014

Car loans are offered for the purchase of new and used vehicles. They are offered by car dealerships, banks, and credit unions, and the terms, interest rates, and repayment options vary. Terms and Criteria Borrowers can choose from secured and unsecured auto loans with a fixed or variable interest rate. Secured loans come with a […]

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