Having your own credit card is wonderful so if you’ve gone past your eighteenth birthday and you still haven’t had your own plastic money, well, it’s time to modify that particular reality. There are so many advantages to owning a credit card. First of all, it lets you spend and avail of something that may be presently beyond your budget.

Isn’t it frustrating when you find yourself handling some sort of emergency and you realize that you don’t have enough money to keep yourself out of trouble? You, of course, look back and remember the time that you had excess money and since there were no pressing financial problems, you went on ahead and splurged on clothing, accessories et al.

Now you regret your past behavior but regret is useless. With a credit card, however, your situation might just be salvaged from further disaster. Secondly, if you own a credit card, you may also put into use your cash for more important purposes without having to sacrifice anything. With a credit card, you can pay off your student loans with cash and still get to buy those expensive medical books you’re required to read for the new semester.

Thirdly, with a credit card, you’ll feel much safer when going out alone because even if your purse got stolen, you know you didn’t bring a large amount of money with you and as long as you call your credit card company right after, there’s no way that anybody will be able to use your credit card.

Now, if I’ve convinced you about the need for credit cards, there are several ways to make sure that your credit card application gets approved. First, you have to be of legal age, presently working and with a steady source of income. Your income level determines the credit limit of your credit card. Secondly, do check on your credit history because that could also affect your credit card application.

If you’re approved, the next thing you have to focus on is the type of credit card that would best suit your needs. Would you like a credit card that offers reward points every time you use it? This would suit you very well if you already know that you and your credit card are going to be the best of friends in the near future. If you happen to travel a lot, then you might be better off with a credit card that offers free air miles in lieu of reward points.

John Mussi is the founder of Direct Online Loans who help homeowners find the best available loans via the http://www.directonlineloans.co.uk website.

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If you have bad credit, the first thing you will want to do is talk to a credit counselor. Many counselors understand that unforeseen problems like unemployment, medical issues, or other problems often take people by surprise. Lenders are often willing to work with you to setup a payment schedule that can allow you to begin making payments.

If you find that you have a large amount of debt, there are a number of things you can do to get it under control. The first thing you will want to do is start getting rid of bills you don’t need. While this may be tough, there are sacrifices you will have to make. If you have a second car, you may have to sell it. If you have certain valuables such as jewelry or electronics, you may want to sell them as well. If you have a large phone bill, you will want to look for ways to get it reduced. You may even have to take funds from your 401K.

While you may not want to do the things above, doing it will allow you to save a large amount of money every month that can be put towards paying off your debts. Most people end up in debt because they have too many unnecessary bills to begin with. If your credit is so bad that the methods above won’t help you, it may be best to go to the Consumer Credit Counseling Service. The number for this service can be found in your local phone book.

The good thing about the CCCS is that they will treat your situation as if you’re filing for bankruptcy, but it won’t be necessary for you to file. If the CCCS is not able to assist you, it may be time to start considering filing for bankruptcy. You should speak with your attorney prior to doing this. If you decide to file for bankruptcy, filing Chapter 13 will hurt your credit less than filing Chapter 7. Chapter 13 takes longer, but will give you about 5 years to pay off your debts. The problem with Chapter 13 is that in addition to the first 5 years, your credit report will show your bankruptcy for another 7 years, even if you’ve paid off all your debts.

If you are in a situation where you feel you can never pay off your debts, it may be best to look at Chapter 7 bankruptcy. Filing for a Chapter 7 bankruptcy will put your credit in worst standing than filing for a Chapter 13. Despite this, you will be out of debt in about half a year and you won’t have to pay back anything. However, it will be on your credit report for about a decade, and most lenders will not give you loans or other credit products.

If you have paid off your debts, but want to get rid of your bad credit, the best way to do this is to make sure your monthly payments are made in a timely manner. Instead of sending your payments by mail, pay them electronically if possible. Most companies now offer this option. It will insure that your payments are received on time. You should avoid sending cash through the mail at all times.

While loans and credit cards can be convenient, not using them properly can lead to financial danger. While it may be possible to use your life insurance or retirement to get out of heavy debt, there are consequences to this that should be considered beforehand. It is important to realize that being responsible with your finances is a key to being financially successful.

Joseph Kenny writes for http://www.ukpersonalloanstore.co.uk and more information on bad credit loans available on site.

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If you have ever received your credit card statement and found an error, you know how frustrating it can be. You either call the credit card company and they say you need to talk to the merchant. You call the merchant and they tell you to call the credit card company. Eventually, you might just pay the charge to make the problem go away and keep from paying interest on a purchase you didn’t make or one you returned.

Today, the Fair Credit Billing Act makes sure that you don’t have to pay for something you didn’t buy. But the act also covers other billing errors that you should not have to be responsible for. This includes the billing for an item you returned or an item you never received or accepted. It also applies to billing that has the wrong date or amount of purchase. And if the credit card issuer makes a math mistake, you are covered as well. Finally, if the credit card company fails to send your statement to your current address, as long as they have been notified of this address in writing, the Fair Credit Billing Act will help you with the interest charged in the meantime.

Basically, any item on your bill that you want explained or that you don’t recognize can be taken as a billing error under the new law. But in order to get the credit card company to take action under this law, you must notify them in writing of the error within sixty days of the issue date on your bill. Do not fax, email, or phone your complaint in. You must send a letter through US mail.

In your letter, describe the problem as succinctly as possible. Avoid venting about how ridiculous the whole situation is. Simply state the facts, list your contact information, credit card number or account number, and sign and date the letter. Send it to the address for billing inquiries, and if possible, send it by certified mail. You will be notified when your letter is received.

The credit card company must investigate your complaint and respond to you either with a refund or an explanation of why the charges are correct within two billing cycles, or ninety days.

Rebecca Spitzer recommends Find Credit Cards for finding a 0% credit card.

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