Archive for February, 2012


Unsecured Small Business Loan Process Is Easier Today Than Ever

Filed Under: Credit card application
Feb.24, 2012

Unsecured Small Business Loan Process Is Easier Today Than Ever Before

Today, more and more people are applying for loans online. From busness loan applications, home loan applications, to online car loan applications, the application process is simpler and easier online. The precarious part about filling out an online loan application is that the consequences of improper loan applications can be detrimental. Incomplete or incorrect loan applications can result in a denial of the loan request, or not getting approved for as much money as you may have hoped, even though you actually had the credentials and qualifications for your original loan request.

Generally, unsecured small business loans applications are fairly simple. As a trend, they are much simpler and easier to fill out than the paperwork at a traditional bank or lending institution. Many online lenders today boast one page applications. You simply fill out the fields online and once you submit it, the information is electronically retrieved by the lender Its that simple.

For those that are particularly intimidated by the loan application (and even those that arent), submitting a loan request online is not a bad idea. These web based lenders are efficient, have great loan programs, and are much easier to apply to than traditional lenders. Their paperwork is far shorter, and has an interactive help section in case you get confused. When you are filling out an unsecured small business loan application, as well as other loan products, sometimes one application filters through several lenders for a better chance of approval.

The most common measure of security taken by lending companies is to require collateral. This means the business loan request will be approved only if it can be secured against a home, vehicle, or other asset of value. In the event that the loan defaults, the lender can then recover its money due to the lien placed on this object.

Business plans are one if the most dreaded parts of the unsecured small business loan application process. These plans can be thick, detailed, and complicated. Often they require information that a small or startup business may not even have! The worst part is that completing a well done business plan does not guarantee loan approval.

The small business loan application process can also be made difficult by the imposition of restrictions on how the loan proceeds can be used. This takes away the borrowers freedom to use the funds as he or she may have seen fit. You can escape these hassles by using an online application for a unsecured small business loan.

The online loan application is easy to complete. Just fill in the fields and then click on submit, and the information is electronically sent to us. You will need only the most basic information to fill out our online application. This will include the amount of the loan you are seeking, and your basic contact information, such as your phone number, address, and email address. You will also be asked basic questions about whether or not you own your home, and what you believe your personal credit rating is. Basically, the process will be very similar to filling out an easy online credit card application.

Applying for a unsecured small business loan is easy, all the business owner need to do is just go on line and submit their loan details. Then the lenders will refer back to you with the loan decision in a few days.

Tags: , , , , , , , , , , , , , , , , , , ,
read more

0% APR Credit Cards – Tips & Tricks

Filed Under: Credit card application
Feb.17, 2012

Word Count:Article Body:
Credit cards can be considered to be one of the many basic necessities of the modern world. Credit cards are available nowadays in abundance. One type of credit card specifically is the so-called 0% APR credit card. 0% APR credit cards were introduced in the late 1980s and to this day has still proven to be one of the most sought-after credit card types available anywhere. As with all credit card types, there are a certain tips and tricks surrounding 0% APR credit cards that all potential card applicants should be made aware of.

With the help of a 0% APR credit card, it means that you need not only pay the outstanding balance; and what more you could even charge up to the limits without having to sustain any monthly interest charges. However, sometimes, one tends to think just how these credit card companies can afford to provide 0% APR credit cards, and make a profit out of it?

Although 0% APR credit cards may not comprise any monthly charges, it is sure to come with annual fees which you are obliged to pay for the privileges of a 0% APR credit card. These annual fees usually run from $15 to $20 or sometimes, even higher. Having a 0% APR credit card doesnt mean that you can pay your dues whenever and whichever way you intend to. It IS necessary to make your payments on time, or else, you will have to pay for high overdue fees. For each late payment, the 0% APR credit card holder has to pay fees that may range from $20 to $40. With habitual late payments, these meager amounts may accumulate to a hefty total!

It should be remembered that 0% APR credit cards are usually offered for only a stipulated period of time. This credit card interest may hold good for only a fixed period of time, usually ranging from 3 up to 15 months. On the completion of this period, a higher rate of interest may come in vogue, usually 12% or higher. You could easily transfer any existing credit card balances to a new 0% APR credit card to get 0% interest on the transferred balance. In this way, the credit card holder has to pay less interest for a stipulated period of time, and thus get a chance to clear outstanding balances as quickly as possible.

When applying for a 0% APR credit card, it is always better to read the terms and agreements of the credit card. Not to overstate an obvious question, but why should one do so? Simply because many credit cards may come with a default rate wherein late payments not only incur a late payment fee, but it would also include a default rate that will be added to the annual percentage rate. This in turn doubles the figures on the existing balances and on the new purchases made on the card moving forward. Ouch!

One very important point to take into account when applying for a 0% APR credit card is to read all paragraphs of the agreement, otherwise known as the fine print. This is because though it is illegal for a credit card company to hide their fees and charges, it is nonetheless legal for them to mention these points in small print! The 0% APR credit card companies thus usually announce in large and bold print about their 0% APR but hide the facts that this is only for a limited period of time and any extra fees which might be included are done so in very fine print.

Another trick that is up the sleeve of 0% APR credit card companies is to install sky-high APRs right after the amount of 0% APR balance transfers are paid down. In other words, the money you first pay to the credit card company is applied to the transfer, and any other purchases you make will be charged a high APR. Sometimes, credit card companies may also go to the extent of sending you a different card than the 0% APR credit card you had initially applied for. In this way, you are not allowed the 0% APR but a different card offer with different terms and conditions. The card issuers typically rationalize this behavior based on the card issuer determining that you do not meet the qualifications for a 0% APR credit card. Qualifications for a 0% APR credit card is usually found in the small print of the agreement, and is usually overseen by applicants!

It can thus be seen that though 0% APR credit cards do seem to be rather inviting, there are some loopholes and tricks to their use. As always, it is highly recommended to read the terms and conditions on the card application agreement for the 0% APR credit card, or any type of credit card application, thoroughly in order to avoid any future problems, headaches or financial surprises.

Tags: , , , , , , , , , , , , , , , , , , ,
read more

7 FAQs When You Apply for a Credit Card

Filed Under: Credit card application
Feb.03, 2012

Word Count:Article Body:
There are so many credit cards out there to choose from that deciding which one to get can feel really daunting. What makes one offer better than the hundreds of others youve seen? Here are top 7 FAQs to finding the right credit card:

1. Are You a Student?

If you are, then youll be better off with a student card. Your application is likely to get accepted without problems. It would be best to contact the bank where you have your student account before you do anything else.

2. Are You Transferring a balance from another credit card?

If you are, then you need to be looking for a card with a low APR on balance transfers. APR is the acronym for Annual Percentage Rate. APR is the cost of credit, expressed as a yearly interest rate. However, do be careful of credit card offers that promise 0% introductory rates for say 6 to 9 months. There may be a catch somewhere!

3. Do You intend to Make New and Large Purchases?

If so, then pay more attention to the APR for purchases, which is usually entirely different to the one for balance transfers. You should also look at what kind of grace period different cards offer, so you dont end up paying interest on your purchases straight away.

Also called a “grace period,” a free period lets you avoid finance charges for a specified time before you are required to start paying your balance. Without a free period, the card issuer may impose a finance charge from the date you use your card or from the date each transaction is posted to your account. If your card includes a free period, the issuer mails your bill at least 14 days before the due date so you’ll have enough time to pay.

4. Do You Pay Off Your Balance In Full Every Month?

If you have a lot of money or you only keep a credit card for emergencies, then you might just pay it all off each time you get the bill. If you do, then youre in a position where you obviously dont need to worry about the interest rate much at all, since you wont be paying any interest (make sure theres a grace period, though).

5. Do You Need to consider Other fees?

Many issuers charge annual membership or participation fees. Some issuers charge a fee if you use the card to get a cash advance, make a late payment, or exceed your credit limit. Some charge a monthly fee whether or not you use the card.

6. Need Good Customer Service Support by the Issuing Bank?

This can be an important factor especially in situations of lost card or a charge that you wish to dispute. You want customer service support that is friendly and helpful. Choose a reputable bank that has excellent call center help.

7. Which Reward Program is suitable?
You may wish to consider the card that offers you the best reward programs or frequent flyer points for your needs.

In conclusion, there will be plenty of offers of credit card deals and “pre-approved” credit card application forms in your mail. However, do take the time to shop around for the right credit card for yourself.

Tags: , , , , , , , , , , , , , , , , , , ,
read more