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Credit Card: Need a low interest, no deposit credit card? Get a guaranteed credit card or apply for a platinum rewards card. Auto loan: Apply online for New auto loan, Used auto loan or for a Refinance auto loan, regardless of bad credit. Home Loans:  Apply through our lender network for a new home loan or for mortgage refinancing. All credit types welcome. Personal Loan: Get a long term personal loan, or if you have bad credit get a payday loan with no credit checks and no turndowns. Debt Counseling or Settlement: Get out of debt with Credit Federal's preferred credit counselors and debt negotiators. Government Grants: As a public service, Credit Federal provides free government grant access via our compilation of links. Credit Report: Need to fix credit report errors? Need a free credit report? Visit Credit Federal's no-obligation credit report resources. Credit Federal's free consumers services: Easily track expenses and get free bill reminders, and read or submit credit articles. Calculate interest. Credit Federal provides a range of free interest and loan calculators. Use our Auto Loan Calculator, Home Loan Calculator, Mortgage Refinance Calculator, Credit Card Interest Calculator, and our Savings Calculator.

Personal finance, financial advice and free credit tips:

Although consumers are wise and well-educated, many lack the necessary information to help them effectively manage their personal finances. As more and more young people embark into credit matters, perhaps financial education should be part of high school curriculum.

Credit offers are bountiful, both online and in the offline world. Although many of these financial services are beneficial, they are not necessarily beneficial to all people, all the time. Some are only beneficial to select groups (businesses, credit beginners, etc), whereas others should only be used during certain periods (near bankruptcy, credit improvement, etc.).

For example: people who are facing bankruptcy or foreclosure may benefit most from debt settlement, whereas people who had worked hard to obtain a great credit score would be able to get approved for a high credit limit credit card. Certainly someone just beginning to establish credit; or recovering from bad credit, would get rejected for a high dollar amount unsecured loan. But many consumers are not aware of qualifications, nor the full extent of how quickly the wrong decisions can place their credit future into jeopardy. Not only is education a problem, but many consumers fail; for whatever reason, to read the full Terms and Disclosures before applying for credit, or perhaps they simply do not understand the industry jargon.

On our site we offer a broad range of credit information and financial advice to help consumers make sound decisions regarding their personal finances. In every possible way we try to avoid industry jargon to make the material more understandable, particularly for our younger visitors just beginning to learn about credit.

Some of the more common credit mistakes we've seen are:

*Bad credit consumers applying for credit which requires high credit scores

*Applying for the wrong service at the wrong time, such as applying for debt settlement before trying to resolve the problem by budgeting.

*Not reading or understanding the full terms and conditions before applying.

*Not focusing on current credit to ensure timely repayment and subsequently damaging credit scores.

*Too many open, but inactive credit accounts which can lead to potential debt problems down the road, or possible fraudulent activity, including identity theft.

*Balance transferring debt for the wrong reason. You should only balance transfer debt for the purpose of getting a lower interest rate, not to attempt delaying payment default.

Read our free financial tips on ways to save money.

Credit Federal was established in 2000, and has served millions of consumers. Regardless of bad credit or no credit, give our consumer credit network a chance to serve you. Apply for a guaranteed card, short term unsecured loan, debt loan, a new auto loan or home loan, or for refinancing.

Can't find the personal financial resource you're looking for? Credit Federal has hundreds of pages of resources. Use our Site Map or our site search engine to locate specific credit services or information.

Common Credit & Debt Terminology:
* Annual Percentage Rate, or APR – Represents the rate of interest the customer is charged plus fees, expressed as a yearly rate. If the customer expects to keep a balance on his or her account each month, he or she will want to look for a low APR. If the customer expects to pay his or her bills in full each month, it will be more advantageous to compare the annual fee and other charges.
• Annual Fee – A yearly fee that a credit card company charges for using the card. Many cards charge no annual fee.
• Average Daily Balance – The most common method of calculating interest due on card purchases. It is calculated using the credit card's APR. If a customer's card has an APR of 16%, he or she will actually be charged a daily interest rate of .044% (16% divided by 365 days). If the customer keeps a balance on his or her card and does not pay it off, he or she will actually pay a bit more than the APR offered, because his or her balance will increase daily and thus the interest will go up.
• Balance Computation Method – This will determine how a customer's interest is calculated. There are a variety of methods. The most common is average daily balance.
• Balance Transfers – Transferring the balance on one (higher interest) credit card to a new card offering lower interest. As an enticement to new customers, credit card companies will often allow a customer to transfer his or her existing balance to the new card at an extremely low interest rate (sometimes as low as 0%) for a specified period of time.
• Bankruptcy – A legal proceeding that can legally release a person from repaying debts. Bankruptcies remain on credit reports from 7 to 10 years and will have a negative impact on a person's credit score.
• Capacity – A person's present and future ability to meet payments.
• Capital – A person's accumulated savings and other assets that are available for use in producing wealth.
• Cash Advance – Allows a customer to use his or her credit card in an ATM to get cash immediately. Credit cards offer no grace period on cash advances, and the APR on a cash advance is generally much higher than the APR on purchases.
• Character – Shows how a person has paid his or her bills or debts in the past.
• Closing Fee – Fee charged by some credit card companies if the card holder wants to close out his or her account.
• Collateral – Assets pledged by a borrower to secure a loan or other credit, and subject to seizure in the event of default or bankruptcy. Also called security.
• Convenience Checks – A cash advance that is used like a regular check. However, the money is charged against the customer's credit limit. There is usually no grace period, and the finance charge is usually higher than for purchases.
• Credit – An arrangement to receive cash, goods or services now and pay for them later. Usually referred to as a loan.
• Credit Available – The amount of credit remaining on the card holder's card after his or her balance and current charges are subtracted from his or her total credit line.
• Credit Card – A revolving line of credit that allows the customer to make an unlimited number of purchases, up to a pre-approved dollar limit. The customer can continue to “revolve” that line of credit or draw down on it repeatedly as long as he or she continues to make minimum payments on that bill each month and as long as he or she does not exceed his or her credit limit.
• Credit Limit – The maximum dollar amount a customer can borrow at one time on a revolving account, such as a credit card.
• Credit Report – A report containing detailed information on a person's credit history, including identifying information, credit accounts and loans, bankruptcies and late payments, credit score, and recent inquiries. It can be obtained by lenders to which an applicant has applied for credit to determine his or her creditworthiness.
• Debt – Money owed; also known as a liability.
• Finance Charges – The amount charged to a card holder's credit card account if his or her monthly balances are not paid off in full. Calculated using Average daily balance and annual percentage rate (APR).
• Fixed Rate – An annual percentage rate (APR) that will not change. If a loan offers a fixed rate, the rate will remain the same for the length of the agreement.
• Grace Period – The grace period is the number of days a customer has to pay his or her balance before a creditor starts charging interest on the outstanding balance.
• Interest – The cost of borrowing money, or the price the lender charges the borrower for the use of the lender's money.
• Installment or Term Loan – Loans which are repaid through regular periodic payments or installments, usually over a period of one to 10 years.
• Judgment – A decision by a court of law ordering someone to pay a certain amount of money.
• Late Fee – A fee a customer must pay if his or her payment is not received by the due date of the payment.
• Lien – A creditor's claim against property (e.g. a mortgage is a lien against a house).
• Line of Credit – See Revolving Credit.
• Minimum Payment – The smallest amount which can be paid on a revolving charge account to avoid a penalty. This is usually two to three percent of the amount owed and is often based on the balance at the billing date.
• Mortgage – A debt instrument by which the borrower gives the lender a lien on property as security for the repayment of a loan.
• New Balance – A customer's previous balance plus any purchases, cash advances, and late fees, minus any payments and credits. If the customer pays his or her credit card bill in full each month, the new balance will be equal to his or her new purchases and cash advances.
• Payday Loans – Short term loans people take out to tide them over until they receive their paycheck. These loans usually carry very high interest rates and can get people deep into debt.
• Payment Due Date – The date a customer's payment must be received by the lender – not the date the payment is postmarked.
• Periodic Rate – An interest rate applied to a customer's balance to calculate the finance charge.
• Previous Balance – The amount a customer owed at the end of the previous billing period. Any payments, credit to the customer's account or new purchases are not included.
• Prime Rate – The interest rate announced by banks from time to time. This rate is often used as a benchmark by which to measure a loan rate – e.g. Prime plus 2.
• Principal – The principal is the amount of money borrowed. It is also the base on which interest is figured.
• Revolving Credit or Line of Credit – Credit that allows a customer to make an unlimited number of purchases, up to a pre-approved dollar limit. The customer can continue to “revolve” that line of credit or draw down on it repeatedly as long as he or she continues to make minimum payments on that bill each month and as long as he or she does not exceed his or her credit limit.
• Secured Loan – A loan where the borrower offers collateral for a loan. The borrower gives up his or her right to the collateral if the loan is not paid back as agreed.
• Subprime Lending – Loans intended for people whose credit or other circumstances prevent them from obtaining a loan at the interest rate offered more creditworthy borrowers. Subprime loans are at higher interest rates.
• Tax Lien – A claim against property or assets, filed by the taxing authority for unpaid taxes.
• Unsecured Loan – A loan where the lender does not require collateral.
• Variable Rate – An annual percentage rate (APR) that changes as published interest rates change.

Read our latest information about personal finance. Use our free credit check so you can personally rate your own credit. View national average interest rates.

Debt

People with poor credit may keep damaging scores just by getting deeper into debt or keeping debts. Those who want to find an answer to financial problems often seek a consolidation service. It is best to search one that has experience helping those with credit challenges. Many of these services, do require clients to have a certain credit score to qualify, yet there are some requirements to be eligible.

Some consolidation companies require borrowers to have a minimum level of unsecured debt, no existing enrollments in debt consolidation programs, and be willing to cancel credit cards included in the consolidation. People with excessively high levels of debt may not be able to qualify.

Having debts with high interest typically leads to credit problems, which can prevent some consumers from being able to consolidate. People with excellent credit, usually are able to get approved for a home equity, debt consolidation loan. When there are blemishes on credit records from the burdens of overwhelming debts, some debt relief programs may not be an option. 

However, there are many debt consolidation services who can assist those with bad credit and credit challenges. Lenders define "bad credit" in various ways, but a score of 620 or below is usually classified as poor. For scores like this, it can be next to impossible to get loans to pay bills from traditional banks and credit unions. Applicants are considered a sub-prime borrower, and few lenders are willing to assume that risk.

Consumers with poor credit do have some options to put a stop to constantly damaging credit scores. There are choices like credit counseling, consolidation loans, debt settlement, and the last solution could be bankruptcy. Finding the right service for individual debt needs can take some thought and research, which can be started by using online sources. Using online resources provides privacy and the ability to compare services. It can be one of the quickest ways to get a quote or check out a company to see if they are reputable.

Having bad credit usually does not disqualify people from receiving debt consolidation services. However, some consolidation companies may require that payments are no more than three months behind. For people who have more serious delinquencies, debt settlement or debt negotiation may be an option to consider. 

Some lenders offer debt consolidation loans with less eligibility criteria. Many debtors with bad credit can use these loans and pay off high-interest debts. These loans may have high interest rates, yet most loans for bad credit people do anyway. There are hundreds of choices for using professional services, the important thing is to start early, before debts and late fees are out of hand. Quotes are usually free, and it may be a step in the right direction to get one. Debt relief can help ease some of the stresses of life and may eliminate some sleepless nights.

How do I stop charges to my credit card account for a free offer I had cancelled during the trial period? I cancelled the free trial, but the company keeps charging and my bank says to contact the billing company:

First, send a certified letter (with return receipt) to the offending merchant who keeps charging your credit card, and direct them to stop charging. Include any documents you may have (copy of email, cancellation number, etc) to prove you had cancelled the trial offer within the required time range.

Afterwards, notify your bank in writing about the charge(s) you feel were in error. (Use the billing error instructions, which should appear on the back of the periodic credit card statement. This address is usually different from where you send your payment.) Also inform them that you had sent a cease letter to the merchant. The bank must receive your notice of billing error within 60 days of its having sent you the first monthly statement containing the unauthorized charges.

More Easily Understand Credit Card Agreements	ConsumerFinance.gov developed a shorter, simpler credit card agreement that spells out the terms for the consumer. Note that this is not a model form, and use is not mandatory. This simplified approach will help consumers better understand their credit card agreements.
Auto Financing Loan Terms	Learn auto financing jargon and terms used by auto loan lenders and car dealerships.
Online auto loans better than car dealerships	Online auto loan is better than a car dealership loan, and can help you avoid financing scams.
Auto Refinancing Lower Payments	An auto refinancing loan not only offers an easy secured cash loan, it can also save money if you lower payments by reducing interest rates.
Used Auto Buying Tips	Used auto loan buying tips. Apply online and get financed today for a used car loan.

Top 10 New Year's Financial Resolutions:	Top 10 New Year's Financial Resolutions:
Need Loan to Pay Bills	A visitor needs a loan to pay bills, and has options including a person-to-person personal loan and an auto refinance loan.
Unsecured Personal Cash Loans	Payday Cash Advances are a popular and thriving financial option as a high risk, bad credit personal loan.
Joint Spouse Credit Tips	Free spouse credit tips for a financially stronger marriage. What married couples should and shouldn't do.
Credit Jargon and Financial Terminology	Credit jargon and financial terminology defined.

Review Disclaimer: Review information was gleaned from the website, and is neither an endorsement by us nor an confirmation of content nor a warranty of any promises made by the website. Use the review information at your sole discretion and sole liability.
 

Best-SavingsAccount.com Review - © Copyright 2010 Best Savings Account

How to choose the best savings account for you: Everyone understands that a 2.50% interest rate is better than a 1.50% interest rate. However, choosing the best savings account for you involves much more than just finding the best rate, you have to be exceptionally careful before investing in any sort of savings account. Listed below is what will help you find the best savings account so that you can maximize your return and protect your principal.

You have the option of choosing a local brick and mortar bank in your community, or you can choose an online bank for your financial needs. Many online institutions are going to have offers that involve the best savings account or best checking account benefits and rewards. The choice of which bank is entirely in your hands.

Compare the Savings Account interest rates at several banks before you make your final decision. Find out about any early withdrawal penalties, and ask if they limit you to a certain number of withdrawals in any pre-set tie period. You also need to know if there are any minimum balance amounts concerning any type of account that you may be interested in signing up for.

When you are searching for a bank that offers the best savings account many people look for the big names such as HSBC, Chase or BB& T. There are some smaller institutions that are stepping up to the plate as well, so you should not overlook them just because they are less well known.

The best savings account is designed to make your financial life safer, easier and more profitable. Make sure that the bank is covered by FDIC insurance at the onset. Ask if you can convert your savings over to CDs at your discretion. Inquire about the possibility of using your savings account to pay bills. Make sure that the hours of operation of the bank are convenient for you and be sure to find out about any phone or online support options that they offer.

Find out about the online banking options that are going to be available. Ask how easy it is to transfer money between savings and checking accounts. A bank that really offers the best savings account has the ability to tailor a package that is ideal for you and your particular situation. Find out if there are any charges for withdrawing savings using an ATM card. Also ask about the process for transfers from bank-to bank.

If you can find a bank that provides you with high yield and no minimum balance requirements these are two factors that frequently signal that you may have found a financial institution that can offer you one of the best savings account plans on the market. You do need to keep in mind that savings accounts are good if you have a few hundred dollars to a few thousand that you need to keep around for an emergency. However if you have substantial amounts of money that you are going to deposit you may need to consider a different financial vehicle that will pay you more interest and dividends.

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