Joseph Kenny asked:




Have you ever been faced with the worry that your son or daughter is off to college and you want to give them access to emergency cash without having to give them the actual cash – which they’ll likely spend beforehand – but knowing by the time you wire the money to them the emergency may well be over? If so, you may well want to know what supplemental credit cardholders are!

In short, supplemental credit cardholders are persons who you authorize to use your credit card account. They are issued their own card, but the account is the same number as yours and any transactions they process on the card are charged to you. Collectively you all have the same credit card limit. As such, if your supplemental cardholder makes a purchase on the card, this reduces your access to that sum from your card limit – until such time as you have made a payment.

As you can see then, supplemental credit card users are offered all of the privileges of being credit cardholders, but based on your financial status rather than theirs. They are, therefore, a good means of providing security to your spouse and children without the worry of their having to apply for a credit card in their own name – which, in the case of your children, will almost certainly result in them having a lower spending limit anyhow.

Although a very useful and beneficial tool, a couple of issues you need to watch out for if you agree to supplemental credit cardholders on your account:

* you are liable for their spending! If they overspend, so do you! Also, you should request that provide you with any transaction receipts so that you can track any potential fraudulent use of the card.

* you may find that you are charged a fee for the privilege of having supplemental cardholders.

Finally, keep in mind that the policy of having supplemental cardholders is not limited to supplemental credit cardholders and it is possible to have supplemental cardholders for most major charge cards and store cards.

Vernon

John F Smith asked:




You’ve probably heard that using gas cards is a good way to save and stretch gas money. Well, you’ve heard right. The rewards that you get from using gas cards are surprisingly great! Using them isn’t so hard, you only have to use gas card for gas purchases and wait for your savings. What’s more is that applying for gas cards is easy and quick too, especially if you have a good credit standing. With gas credit card online applications, you are just a click away from great rewards.

There are already numerous websites that facilitate gas card applications. The good thing with these websites is that you get to explore your options well. A complete review is always available for each gas card available online. So you may want to take advantage of this advantage. First and foremost, compare percentage rebates. The highest so far is at 5% during regular periods and 10% or higher during introductory periods. If you choose credit gas cards and plan to maintain a balance on it, then you may need to compare annual percentage rates as well. Usually, the APR that gas cards carry are higher than average so you may want to choose a card that has a low APR. It will be hard to look for a card that has a high percentage rebate and a low APR. So, do the math and weigh your options well. Interests can easily undermine your savings.

After you choose a card, the next step for you to do is to apply for it. Don’t worry; this can be quick and easy as possible. If you have a good credit standing, then your gas card application is limited to filling up the application form.

Indeed gas credit card online applications can be convenient and quick as possible. Apply online from the comfort of your own home during the time of your choice.

Connie

credit cards rates asked:


Getting approved for a credit card can be difficult without a positive credit history working in your favor. It’s a Catch-22: To obtain a credit card, you need a good credit history. But to have a good credit history, you need to establish good credit!

This no-win cycle can keep people with a non-existent, limited or negative credit history from getting approved for a credit card. But it doesn’t have to if you understand the type of credit cards available and how to build a good credit history.

When it comes to credit cards, the type of card you apply for will depend on your situation. If you’re a student, you’ll, naturally, sign up for a student card. But if you’re a non-student with a non-existent or bad credit history, a card that is secured or obtained with a co-signer may be your best option. With co-signed credit cards, the co-signer guarantees and is responsible for the debt. This means that the co-signing person is responsible for paying the full amount of the debt if the card holder doesn’t pay. In fact, when co-signed debt goes into default, three out of four times co-signers are normally asked to repay what is owed, according to the Federal Trade Commission.

Furthermore, the issuing bank can attempt to settle the debt without first trying to collect from the card holder. The bank can also use the same collection methods against the co-signing individual, including suing and garnishing wages. If the debt is not paid, it can leave a negative mark on the credit history of the co-signer, as well as the card holder.

Despite the risks, a co-signed credit card can be great tool for helping a friend or relative build their credit history so they can one day obtain a card on their own. Secured, co-signed and pre-paid credit cards offer viable options. But you should start building a strong credit history, so you can obtain a regular credit card on your own in the future.

First, you need to understand how credit card issuers determine credit worthiness. The approval criteria varies from among issuing banks, but generally relates to what’s often called the three C’s of credit: capacity, character and collateral. Capacity refers to your ability to pay based on your income and existing debt. Collateral refers to any assets you have that can secure payment, such as bank accounts or home ownership. Character refers to factors like your payment history, length of employment, etc.

 

To get a good idea about how your application will fare with credit card companies, check your credit history with one of the major credit reporting agencies: Experian (www.experian.com), Equifax (www.equifax.com) and TransUnion (www.tuc.com). These agencies access your payment information directly from the companies you have credit with, as well as from government agencies such as the legal court system.

Credit reporting agencies use the information in your credit history to determine your credit rating or credit score. Credit scores, also known as FICA or Beacon scores depending on the CRA, generally range from 350 to 850. Most banks will approve you for credit if your score is at least 620. If your rating is 720 or higher, banks will offer you their lowest interest rate.

Generally, y our credit score is determined by your payment history for the last two years. T echnically, CRAs calculate your score using a closely-guarded formula. TransUnion, for example, determines credit scores using a variety of factors, including: how you pay your accounts, how much you owe and how often you’ve applied for credit.

http://www.credit-cards-rates.co.cc/



Cynthia