My New Credit Card

The debt to Income Ratio or DTI is the ratio of how much of your total monthly income goes towards monthly payments on your debts. You will be able to calculate the DTI on your own or else you can also use the Debt to Income Ratio Calculator in order to find out your debt to income ratio. You will get a free DTI calculator from different websites.

Calculating your DTI using calculator
You will simply have to enter the details in the DTI calculator starting from your debt payments and your annual income. After you hit enter, you will be able to get the details of your DTI. It is important that you have a good debt to income ratio. If you have a good DTI, it implies that you are quite responsible in managing your debts and you can do that easily with your income. Full Post…

Pre-approval credit card offers are becoming increasingly popular as card companies attempt to solicit new clients in the face of record profits and all-time highs in credit card debt. Although the term “pre-approved” may seem straightforward, it actually has a much deeper and more convoluted meaning than one would expect. In addition to the “pre-approval” marketing tactic, card issuers also tend to offer additional incentives such as lower interest rates, long introductory periods, low or no account fees, and rewards programs. Unfortunately, every day there are hundreds of prospective cardholders that are given the false hope of pre-approval after being declined for several credit cards in the past. The following paragraphs reveal the truth behind what it means to be pre-approved for a credit card.

What Does the Term “Pre-approved” Mean?

When applied to credit card offers, the term “pre-approved” simply means that the recipient has been selected from a specific demographic or target audience, and may therefore be eligible for official approval. Credit card comp

Full Post…

  2011 is supposed to be the year for comebacks. As more people emerge from the wreckage of the Great Recession and slowly rebuild their finances, feel-good reports are popping up everywhere, profiling the comeback kids of 2010 who were knocked down by the financial crisis, but came back stronger — with a better job, an unexpected calling or a renewed financial outlook.   But not everyone is feeling so optimistic. The March jobs report released today gave us the best jobs news we’ve heard all year after the unemployment rate dropped to its lowest level in two years. But experts caution that although the private sector is hiring, the public sector is still losing jobs right and left – and, at this rate, it will be years before unemployment reaches pre-recession levels.      Meanwhile, the Conference Board’s Consumer Confidence index fell sharply in March after ticking upward for the past five months. Economists say that higher food and gas prices, fears of inflation and pessimistic expectations about job growth all contributed to consumers’ dour mood this month.   “The sharp Full Post…

While individuals with good credit can live relatively luxuriously on an average income, individuals with bad credit who earn the same amount have a notably lower quality of life. This is not only because they don’t have access to a line of credit, but also because it is much more difficult to be approved for loans, vehicle and home rentals and even job applications. Fortunately, establishing good credit from scratch is a relatively simple process that can be accomplished by following the three easy steps below.

Applying for a Credit Card

The first step in establishing credit is applying for a basic credit card with a low credit limit. Contrary to popular belief, financial institutions are much more likely to approve someone with no credit than to approve someone with bad credit. Most first-time credit cards have credit lines of about $500, but this credit limit can be extended after a couple of months of making timely payments. The credit line and privileges available to the cardholder depend entirely upon their credit score and credit history. A

Full Post…