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Though credit card companies officially state that they will credit your account in one or two days after receiving payment, it can take up to 4 days for the amount to be actually credited to your account, even if the payment is made using online bank transfer. Till then, all your transactions will be declined, with the message, credit card limit reached. This can be a problem in a month when many bills have to paid using the credit card. In such cases, it is better to prepay the outstanding amount early.

One of the easiest ways to build up your credit score is to get a credit card. You do not have to use it very often but you can make a few purchases to build up your credit and then pay it off on time every single month. If you want to you are even able to cancel your credit card once your credit score is where you want it.

Once you are offered with the bad credit secured loan option you should know that your credit score is seen by the lender, determining whether o r not you qualify for getting the amount you have applied for. The conclusion here is that your credit history would be of a great relevance as according to it, the credit reporting bureaus will calculate your credit score.

Often the question arises and people end up without any effective answer for that. In order to make sure you determine and start taking care of the money you owe to others there are some simple steps to be taken. Have a glance at the following:

• Sum up the total amount that you owe to others.
• Point out the most urgent ones
• Know what exactly the amount of money you have.
• Pay off the most prior debts first.
• Make strategies regarding less urgent debts payment methods.
• Collect money from your debtors.
• Look for professional companies offering debt management plans.

Having done that, you will start feeling relaxed since you are pretty much in control. Remember instead of wasting time worrying over the kind of remedies, taking immediate steps is far better. Steps mentioned above are listed after thoroughly taking into considerations and study over hundreds of cases. Taking the services of professional debt management companies is also advices, since you will be guided on each step.

Home Loan – Houses Loan Conversion

These Home loans are available for those who have financed this house with a home loan and want to buy and move into another house that some additional funds are required. Through home conversion loan, the loan that is transferred to a new home including the extra amount required, eliminating the need for pre-payment of previous loans.

How much interest do the borrowers pay?

Do the borrowers repay their loans or do they default?

Check out a blog based on empirical data at Microfinance in India

Contributed by Mridula Murgai

Credit cards are so much fun – buy anything you want, pay whenever you want.
No, this is not correct – it is this attitude and lack of a sense of responsibility which leads to mounting credit card bills and a slide into the debt threshold and growing payment worries.
Credit Cards have many advantages and using them to make offline purchases can save you a lot of hassles and make life much easier for you. You can pay the exact amount and not have to collect coins as change. You just need to sign and you are ready to leave with your purchases, no matter how large the cost. A cheque at the end of the month, and you have made the payment in one go.
Offline credit card usage, i.e. using a credit card to make purchases which are not on the net, is a growing segment in the commercial world. Everywhere in the world credit cards are now accepted and you do not need to carry around a lot of cash in your wallet.
Even if your card gets stolen, you can immediately stop payment on it and have no further liability on the costs incurred on it. Thus there is a certain degree of safety when you use and carry a credit card.
However, do learn to use it wisely and with responsibility. If you are a frequent user of credit cards to make offline purchases, you probably do not have time to keep track of the total debt you are collecting. When the bill comes at the end of the month, the total may come as a rude shock to you, and you may not have enough reserves to clear the bill.
Paying just the minimum balance every month is also a dangerous thing to do. The minimum balance will keep rising every month, and the exorbitant rates of interest which is charged on the remaining balance will only aggravate the situation. Soon the minimum balance will also spin out of control.
The trick is to use the credit card only for major purchases and use cash for the smaller ones. This will make it easier for you to keep track of what you are spending. What is even more important is that you should keep checking on the total bill online. All banks will now give you an up-to-date account statement online and also give you the option to make payments immediately.
If you make your payments regularly your credit rating will also be good and it will be an asset when you look for a loan or a mortgage.
As is evident, there are a few disadvantages of offline usage of credit cards, but these are offset by the many advantages which a credit card offers. Credit Card fraud is one of the largest crimes nowadays, and if we are not careful we can become a victim of it. A theft of the card will make you liable for only a certain amount of money, but this is applicable only if you report the theft immediately.

Credit Cards have now become such an important part of our lives that many of us have way too many of them in our wallets. We have bank credit and debit cards, petrol cards, branded cards, the list is endless. The usage of cash as a means of payment is decreasing as more and more people are beginning to realise the benefits of holding and using a credit card.
Though online credit card usage is increasing, it is the offline usage of credit cards which is the basic staple of every credit card company. Whether it is being used for purchases at stores or for payment of bills of any type, credit cards are fast becoming the norm rather than the exception.
There are some very obvious advantages in using a credit card to make immediate purchases. The biggest advantage of course lies in the simplicity of the processes. You buy anything you want or eat at any restaurant and a quick payment is made through the credit card. You can see what the clerk is doing when you hand him the card – you have control over the bill he is presenting you with. This is something that is missing with online purchases. Often you have to agree to a long agreement online, and many of us do not have the patience to read the fine print. Occasionally you get stuck with hidden costs and conditions.
It is easier to keep track of the card payments since you are handed over a physical bill once you have made the payment. If you are among the majority of people who do not check your online credit card statement regularly, then the chances are high that someday you may encounter a fraudulent transaction. If you make regular online purchases.
Offline credit card usage complaints can also be handled faster and more simply. A face to face dealing is so much more effective than dealing via emails and long conversations with ignorant call centre employees.
In an emergency, a credit card can be your saviour. An emergency payment at a hospital, a quick purchase of an airline ticket, there are so many occasions when you may be short on cash and you need to make a quick payment.
Offline branded credit card payments can also earn you discounts at the stores and sometimes they can give you air-miles or points which can be redeemed later.
No matter where you use your credit card – whether online or offline you need to be careful and circumspect. You need to keep a watch on your purchases, you need to pay your bills on time. After all the only way in which credit card companies can make profits, is by charging you an exorbitant rate of interest for the payments which have been delayed.

Credit cards usually have a billing cycle of  one month, and the statement is sent to the customer by email or post.  The statement includes a

•  list of items purchased
•  the minimum amount due
• the due date by which the credit card bill has to be paid

The amount due may be paid by cheque or electronically using bank transfer and is reflected in the statement after approximately 48 hours.

All credit cards issuers will check your credit score before issuing a credit card. Credit history is major factor in many life decisions, and knowing your credit score is important when planning for the future. Visit freecredittrio.com to receive your free credit score from all three major credit bureaus just for trying our credit monitoring service free for 7 days. Prepare yourself with the info you need to buy or rent a home, get a loan or get a job.

Most of the credit card reforms  proposed by the credit CARD act come into effect from  February next year.   However some changes came into effect last week, which include:

• Credit card companies must notify customers 45 days in advance before they change the interest rates and other major terms .
• Credit card users are given a period of  21 days  from the day their bills are sent out to the day payment is due.  This is an extension of 7 days from the period of 14 days allowed earlier.