Credit Card Advance
Business and personal use are the two main types of credit card advances.
The personal type ranges from cash amount of 100 to 1000 dollars and are being paid back within a short amount of time such as a month coupled with interest and other small fees. It is usually referred to as a ‘payday loan’.
On the other hand, the business credit card advance type (which is often referred to as merchant loan or business cash advance) is pretty much different from a payday loan.
A merchant loan lender buys a small portion of the your future credit card sales given with a discount which is based upon the amount of credit card sales your business is able to haul in per month. They will then program their system to deduct a percentage of your daily credit sales to pay in advance for your credit card purchases. Because the amount of money is dependent on your daily sales, the payback amount being paid daily differs from day to day. This is called the flexible pay back schedule. By employing this system, you are able to regulate your payment less on slow days and more on days that are busier and haul in a much larger income. The time frame for the payback ranges from 6 to 9 months. Many businessmen use this funding method if they are not able to obtain a loan from a bank or they cannot afford to wait for the time it takes to have a bank loan made.
Credit card advances are more expensive than bank loans but they have perks that outweighs the setbacks. Some of these are as follows:
-People are immediately funded in matter of days instead of waiting for months.
-No collateral items are pawned or left in order to make loans.
-There are no terms or agreements needed on how the borrower chooses to spend the money.
-Lenders will try to look up for credit score but not much weight is given on poor credit history.
Not everyone can avail this type of financing, make sure before applying for one, you are able to comply with the requirements.
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Categories: Loan Articles Tags: able, Credit Card, credit card advance, days, loan, sales
Poor Credit Car Financing – Sure Ways to Get Guaranteed Approval and Low Rates in an Instant!
Are you tired of constant-unending rejection from auto lenders because of bad credit history?
Online auto lenders are able to offer very competitive loans for those with good and bad credit. Are they any good?
Quickly Raising Business Finance
The ability to increase business finance is a big deal. Speed is key, whether it be speed of decision, speed of processing or the speed of access to funds. Availing of cash funds used to be easy before. Now, you must have a bridging loan to back you up.
For the most part, the ability to quickly react to a certain opportunity would indicate you will be able to make a good profit. It could be capitalizing on another person’s misfortune or simply being in the right place at the right time. Opportunities for business incessantly present themselves. If you have liquid funds in hand, you can quickly act upon it. Unlike banking institutions, commercial lenders are able to decisively respond, and you can avail of bridging loan funds within days.
If you are rich in asset but lacking in cash, should something need quick addressing, you could pay a heavy price, unless you have quick access to short-term funds. It could be an unexpected tax bill, an equipment failure or simply a temporary hick-up in your cash flow. The alternatives to availing of a short-term loan giving time to resolve the issues can be catastrophic. Assets seized by a bailiff and sold at auction rarely reach anything like even the lowest realistic valuations.
Talk about ‘business & finance’ and you’ll find it’s quite hard to even get them to provide you with an answer regarding when they can give you an answer. Frustrating, right? With high street lending more cautious, hard to obtain and a slower process as compared to the past, the commercial finance sector have stepped up to the mark and was able to fill the gap.
Categories: Loan Articles Tags: able, bridging loans, business finance, business loans, cash, loan, short
What Is Credit Card Skimming
Do you have the keen eyes to see whether a clerk swiped your credit card into two card readers or just swiping twice in one card ready or not? Would you be able to avoid any upfront thievery in buying gasoline from stations? This type of theft usually comes from the usage of credit card skimmers that operate via stripping and swiping the magnetic strip of credit cards through them just simultaneously when you made a purchase. Smart thieves have devised plans in using these existing credit card strips without being caught of using them. Some of the information that these thieves are able to get from doing this are the card number, account holder name, address of the client and even the pin number that could be used and be accessed on a later time. From this information, thieves are able to make purchases by creating counterfeit and cloned credit cards.
Unfortunately, it is not uncommon to be able to get credit card skimming machines.
They can be looked for and be bought from the internet at 300 dollars a pop. Any aspiring thief that would like to skim credit cards would not hesitate to dish out 300 dollars to gain more than a few thousand more. It has been estimated that a total of $1 billion each year is lost to credit card theft. If you feel that you have been a victim of a fraud, you should know now that by the Truth in Lending Act, the limits of your liability amount to $50 in the event that your card has been either lost or stolen. But don’t ever think all cardholders do not pay for these petty crimes, because they are entitled to pay lots of finance and miscellaneous fees.
It is very important to track every bit of purchases you have committed from time to time to check whether there are any major discrepancies in the amount that you owe the bank. The sooner you are able to detect any fraudulent activity, the lesser the corresponding damage will be. You have to coordinate and work hand in hand with your bank to prevent any malicious activity related to credit card skimming.
Categories: Loan Articles Tags: able, Credit Card, credit card security, credit card skimming, credit card theft, lost, number, theft
Getting A Car Loan With A Bad Credit
Needless to say, you would not be having a hard time getting a car loan if you have a good credit score, and you know what happens otherwise. Bad credit auto loans are considered a high risk by financers. It’s a given fact that the economy is dwindling, and that’s the reason why it becomes so hard to keep and maintain a good credit score. And those lenders, to be safe, usually charge pretty high interest rates or require huge amounts of down payment.
Depreciation rates for cars are normally high. Poor credit plus a high depreciation rate equals a high risk to the lenders, so it is advised that you save money that you will be using for the down payment. By doing so, it will dramatically decrease the risk for the financer.
If you are able to get the loan approved at a lower interest rate, then you will be able to pay the lower monthly payment without so much trouble. Through this, you get to up your credibility and you are able to enhance your credit record.
Before selecting a car, it is recommended that you select the loan first as loans depend on the car you choose, whether it is a used or a new one. And since the depreciation rate for used cars is pretty much lower that of the new ones, the risk in financing used cars is significantly lower for those with poor credit.
Planning out your budget is a crucial thing to do when you have poor credit. So picking the car and managing your finances very well is essential to decrease the risks for the lender.
But there are timed when your bad credit makes it almost impossible for you to get a car loan. This isn’t the end of the world, though, since there will always be alternative financing methods for you.
One is your personal overdraft. These usually have higher interest rates compared to car loans, but with smaller amounts, they are actually more flexible. Also, they generally have flexible repayment period.
Another is revolving line of credit which is, by some means, the same with home equity loans. Only, the finances can be drawn again after they have been repaid without the need to reapply.
Short term finance or pay-day loans can also be a choice. These loans help individuals manage their finances until the next payday. No doubt about it, they are helpful but they tend to have very high interest rates and should be paid within the next 60 days.
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Categories: Loan Articles Tags: able, auto loan, Bad Credit, car loan, interest, loan, loans, poor credit
Handling Personal Loans
Personal loan is described as a simple and practical way to avoid being penniless during tough times. With it, you have access to quick cash since you need not put your property on the line. Even though it can only give you a little bit of cash, it’s still pretty good.
The lenders will be able to assess your credibility to pay as well as your financial standing before they approve you for a personal loan. To be easily approved, you have to assure them that you are going to pay back. To pay, you must have money to begin with. Here are some tips you need to heed to save some moolah:
First is to establish a budget plan. You must always have visibility on how your cash flows. This is the quickest way that you can save cash. A budget plan will you in identifying areas that will help you save some funds.
Spending less will also matter. You must have a long term plan so you can handle your debts. Get rid of unnecessary items in your life. When buying stuff, you can look for bargain stores. Saving requires some sort of sacrifice. This tip will be useless when you don’t have commitment. Zero in on the more important stuff that you can’t live without so you are then able to spend less.
Check your old stuff to try to recycle. You only have to be creative to see the usefulness of old things. You need not spend just to have something, you just need to play with your imagination and improvise on the things that you already have on hand.
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Categories: Loan Articles Tags: able, borrower, cash, cash loans, less, Personal Loan, things
Q&A: I am not able to pay bank loan emi as agreement and i want reduce emi amount .How can i able to my emi amount?
Question by : I am not able to pay bank loan emi as agreement and i want reduce emi amount .How can i able to my emi amount?
I had personal loan from hdfc bank.Now i was jobless and i can’t pay ageed emi monthly so i want to emi amount.I have informed the same to bank authorities.But they are accepting.I am not in a position to pay the same emi.So it is possible to reduce emi amount.Please help me.
Regards.
Best answer:
Answer by 71cooldude
They should be agreeable to a reduced monthly repayment as at least they are receiving something towards paying off the debt. If you have any problems, contact the Citizens Advice Bureau who will help you in negotiating with your bank.
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