Posts Tagged ‘apply for credit cards’

Use Wisely: Prepaid Credit Cards for Car Rentals

Prepaid credit cards issuer in the UK introduced these cards for those people whose application for credit cards is rejected. These rejections have made due to bad credit history of the applicant. Without having credit cards, there are number of problems such as you can not make reservations for hotels, motels, car rentals, airline flights, et cetera. For making orders online or telephonic, individuals need credit card. Keeping in mind above mentioned drawbacks, banks and lending agencies have introduced prepaid credit cards.

Prepaid credit cards for car rentals can be availed by those people who have a sufficient earning source or a well paying job. Prepaid credit cards for car rentals are available after offering some prerequisite documents that include Job proof, salary proof, bank statements and so on. Apart from availing car for rents, there is a number of uses such as Purchases, Money management for young adults, Travel including reserving in hotel and rental car, Emergency needs, Access cash at ATMs, Employee wages & expenses, Electronic payments, Gift-giving and so on, where prepaid credit cards for car rentals can be used with relieve.

Hiring cars through prepaid credit cards are very easy and convenient. Individuals can hire a car from home without traveling any where with the presence of internet or telephone. A card holder has authority to make purchasing within the amount loaded in the account. One can not exceed more than loaded amount.

Amount can be loaded in prepaid credit cards for car rentals directly from your employer or payer. We offer very fast services; even we have facility of direct depositing. One can withdraw cash within the same day of depositing the amount.

Nowadays, due to development of technology, there are a lot of hackers are available on the Internet. After hacking your account, hacker can use your prepaid credit cards for purchasing. It is a very tough situation to pay without purchasing anything. For this particular situation, prepaid credit cards for car rentals have introduced where personal information does not required.

One of the ideal prepaid credit cards, prepaid credit cards for car rental can be used in sundry areas for instance those people who are budget conscious and willing to spent limited money, children conscious parents, whose motive is that their children should be expert to use a prepaid credit card for car rentals, people with bad or no credit history and so on.

Balance Transfer Credit Cards

Balance Transfer Credit Cards or Transfer Credit Cards offer to the cardholder the facility of balance transfer. By this facility,an outstanding debt balance on your one credit card can be transferred to another that is newer or less used.  But the credit limit of the latter will have a reduction to the extent of the transferred sum.For instance,suppose you transfer your outstanding debt of Rs. 20,000 on your card A to card B which has a credit limit of Rs. 50,000. By this, the credit limit of card B is reduced to Rs. 30,000.  Again, the balance transfer amount should not exceed 80% of the credit limit.For example,if the credit limit of your card is Rs. 50000, you can transfer to it only an amount up to Rs. 40000. Balance Transfer Credit Cards may offer zero interest balance transfer.In order to induce potential customers to change from other cards to theirs, banks often offer low or zero interest balance transfer.But this is only for the introductory period of 3-6 months.  After that the transferred amount acquires its original rate of interest.   If you want to avail a balance transfer credit card, as a first step,you have to apply to the credit card issuer for the facility of transferring your credit amount.Then on approval, your outstanding debt will be paid off by the card issuer and the due amount will be transferred to your new credit card.It may take 1-2 weeks to get the amount transferred.If you are not wary, your payment date may fall in between and you may not notice it. This will adversely affect you credit report.  Hence, make it a point to pay the minimum due amount till the transfer is made.  Credit card companies may offer free balance transfers to woo customers.They may offer you two, one or zero percent interest.But this may be only for an initial grace period.But this opportunity can be used to reduce your credit card debt.Before applying for a balance transfer, you need to look into the terms to know if there are some hidden costs.There may be some initial fee or annual fee.  Zero percent Balance Transfer Credit Cards gives you the facility of paying off debt along with saving money.You can save the 16 to 18% interest that you are supposed to pay otherwise.  Balance transfer credit cards can get you cash on emergency.You can even transfer money to your bank account or you can transfer through cheque.  Balance transfer credit cards can change your habit of delaying payments.As you are pushed into paying off purchases, you can save interest otherwise payable.

Transfer Credit Cards

Transfer credit cards or balance transfer credit cards are a recent development in the history of credit cards.Suppose you are a credit card holder with a balance debt of $ 7000.Now you decide to switch to a new card.But you have a liability outstanding on the first card, your debt balance.The new company allows you to transfer your outstanding balance on the existing card to the new card.The new one is a balance transfer credit card.Suppose the credit limit of your new card is $ 25,000.Your balance with the old card is $ 7000.Now the credit limit will have a reduction to the extent of the balance amount.The credit limit of the new card will be $ 18,000. Transfer credit cards are advantageous in many ways.Most of the cards allow you a very low or nil interest for the balance. Hence it will be beneficial for you in your debt management.As a matter of fact,these companies offer you a 0% transfer facility as means to woo you to leave your first card and take theirs.But this low or nil interest will be only for an introductory period of 3-6 months.Also, there may be some hidden costs.Hence it makes sense you look in to the terms and conditions if any hidden costs lurk behind the rosy face.Some companies charge some introductory fee or annual fee.But it is an advantage that you can save the interest of 16-18.If you opt for a Balance Transfer Credit Cards, first you have to apply to the card issuer stating your need of a balance transfer.Along with, you should obtain the credit statement from your card issuer and produce it to the new company.On due approval of your transfer application, the new card issuer will pay off the balance amount payable to the old card issuer. Then the amount paid by the new card issuer will be added to the debit of your new card. After your submitting of application for balance transfer,it may take a couple of weeks for the transfer to take effect. During this intervening period your payment date may fall due which you may not take notice of.This lapse will have an adverse effect on your credit report.As such, you should ensure the remittance of the due sum by the stipulated time until the transfer is effected.