Thursday, January 12, 2012

Credit Cards

Credit Cards, the most common form of currency these days. Believe it or not, a lot more people will have one or the other card in their wallets as compared with the people having 100 dollars in their wallets. The day is not far, when even Coke vending machines will only accept credit cards instead of managing so much change! In short, credit cards, are the next "in" thing!

However, using cards is a different thing, and managing them is a different thing. It is so easy to forget paying the minimum balance, or forgetting the payment date altogether! I myself have missed my credit card bills by a week or so, before i realized! And then what hurts you more than the late payments and extra fee is the impact missed payments do to your credit score!

What i didnt know till today morning was, our credit report can be tarnished very easily. It only takes a few missed payments on any bill, you see Any bill including phone, electricity, utilities, anything, not just a credit card payment, to damage an excellent score!

Now we all have damaged our scores at one point or the other. But that is not the end of world my dear friends. There are ways to re-establish your credit scores as well. What you need to do is, get a new credit card, and start using it very responsible, paying before due date all the time, and meeting minimum payment criteria all the times. The good thing is, there are companies specializing in bad credit loans and bad credit credit cards, which will come to your rescue.

These companies provide easy credit card approvals for people with bad credit. They even provide or facilitate loans to people with bad credit. I was checking one such site the other day, and these guys also help us in comparing different credit cards, which one offer cheaper rates, which one has other additional facilities etc. Very helpful, I must say!

Also, these websites also help you in checking your overall credit score! And you are able to know exactly why your cards and loans were getting denied! Isn't that just wonderful!

So guys, just go through your credit score, and if it is not so goo, do apply for a bad credit, credit cards, an then start using it responsibly! And then try and maintain a good score  ! You never know, when you will need your next loan!

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