Can You Get A Credit Card and Home Loan with Bad Credit?

Having bad credit can be a disadvantage when trying to acquire credit.  Nevertheless, a low credit score is not a hindrance anymore since many lenders today offer credit and loan programs for customers with bad credit.  On this post, let us talk how you can get a bad credit credit card and a bad credit home loan.

Credit Cards for People With Bad Credit

It is technically easy to get a bad credit credit card and you can choose from a number of options.  For instance, you can choose between a secured credit card and an unsecured bad credit card.  Both of these cards are available for people with bad credit.  However, secured credit cards require a cash deposit while an unsecured bad credit credit card does not. 

Bad Credit Home Loans

We have just discussed credit card options for people with bad credit but what about home loans?  Is it possible for you to get a mortgage loan if you have bad credit history?  In reality, getting approved for a home loan would be a big challenge if you have bad credit because many lenders want solid assurance that the borrower is capable of repayment. Nonetheless, bad credit home loans do exist in the market.

Read more Can You Get A Credit Card and Home Loan with Bad Credit?

Resources for YOU:

• Credit Cards for Bad Credit
• Poor Credit Home Loan

Refiled bill wouldn't let bad credit disqualify job applicants

TALLAHASSEE --Nearly half of all employers screen selected job candidates by pulling their credit reports, according to a survey by the Society for Human Resource Management.

That creates a catch-22 for some job seekers, especially in this economy: lose your job, your credit suffers. When your credit suffers, you can't get a job.

State Sen. Gary Siplin, D-Orlando, refiled legislation on Monday that would put a stop to the practice in most cases.

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Resources for YOU:

• Personal Credit Loans
• Bad Credit Cards

Bad Credit Personal Loans with No Credit Check

As the name implies, a bad credit personal loan is especially offered for people with bad credit.  If you need financing but cannot qualify for a regular loan because of bad credit history or a low credit score, you may consider a bad credit loan as an option.

Bad credit personal loans with no credit checks are available in the market.  Since approval is not based on the borrower credit history or score, lenders must find a way to ensure the repayment of the loan.  Some lenders do require the submission of collateral while others offer unsecured bad credit loans. 

What does it take to get approved for a bad credit loan?  Having a stable employment is important since it’s only way lenders can have assurance that the borrower is capable of repayment.  For this reason, the amount of loan you can get will depend on your monthly income.  Needless to say, if you have a higher salary, you can qualify for a bigger loan.

Resources for YOU:

• Credit Cards for Bad Credit
• Personal Loans

FHA multifamily loan originations at record high

(Reuters) - The Federal Housing Administration has backed a record $10.5 billion in multifamily rental housing loans during its 2011 fiscal year, the agency said on Tuesday.

The rise in loans for multifamily units reflects an underlying trend in demand for rental property.

The FHA has endorsed nearly 1,100 multifamily loans this fiscal year, which runs until October 1, more than seven times the amount it backed three years ago. For the second time, loan activity exceeded $10 billion.

"FHA has never been more relevant in making sure the multifamily apartment marketplace continues to function even during these tough economic times," Carol Galante, FHA's acting commissioner, said in a statement.

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Resources for YOU:

• Credit Cards for Bad Credit
• Free Credit Repair
• Payday Loans

 

S&P upgrades Google stock days after "sell" view

Recommendations to unload Google Inc stock are extremely rare on Wall Street. But the latest "sell" rating for the Internet company was so fleeting it existed for just three trading days.

Standard & Poor's upgraded Google's stock on Monday, giving it a "hold" rating, reversing its much-debated downgrade the prior week.

S&P had slapped Google with a Sell rating -- the only such bearish call on the Internet giant's stock among almost 40 analysts tracked by Thomson Reuters I/B/E/S -- after a surprise August 15 announcement that it will buy Motorola Mobility Holdings Inc for $12.5 billion.

As with other investors and industry commentators, S&P voiced concern about Google's plans to enter the smartphone manufacturing business, which could weigh on its financials and create conflicts with the other handset vendors who also license Google's Android software.

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Resources for YOU:

• Credit Cards for Bad Credit
• Free Credit Repair
• Payday Loans

Which Credit Card for Bad Credit Will Work for You?

For people who have bad credit history or in need of credit improvement, there are different types of credit cards which can be used for credit repair.  On this post, we tackle three bad credit credit cards that are popular in the market today.  Get to know the difference of one from the other and decide which bad credit credit card is best for you.

Secured Credit Cards.  A secured credit card immediately requires the submission of cash deposit.
Unsecured Bad Credit Credit Cards.  Just like secured cards, approval for an unsecured bad credit credit card is not based on the applicant’s credit history or credit score

Prepaid credit cards.  Prepaid credit or debit cards can be used for payment like any regular credit card.

Which Bad Credit Card Is for You?

Read more Which Credit Card for Bad Credit Will Work for You?

Resources for YOU:

• Credit Cards for Bad Credit
• Free Credit Repair
• Payday Loans 

Analysis: Critics say new law makes them tax agents

(Reuters) - A U.S. law meant to snuff out billions of dollars in offshore tax evasion has drawn the criticism of the world's banks and business people, who dismiss it as imperialist and "the neutron bomb of the global financial system."

The unusually broad regulation, known as FATCA, or the Foreign Account Tax Compliance Act, makes the world's financial institutions something of an extension of the tax-collecting Internal Revenue Service -- something no other country does for its tax regime.

Conceived as a way to enlist the world in a crackdown on wealthy Americans evading tax, it gives global financial institutions and investment entities a choice: either collect and turn over data on U.S. clients with accounts of at least $50,000, or withhold 30 percent of the interest, dividend and investment payments due those clients and send the money to the IRS.

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Resources for YOU:

• Credit Cards for Bad Credit
• Pre-paid Credit Cards
• Instant Approval Credit Cards

What Are Specialized Credit Cards?

Leading issuers of credit cards typically require good credit or excellent credit from interest applicants.  If you have a poor credit score, your application may get automatically declined.  Nevertheless, you will also come across credit cards that are especially designed for people with bad credit. These credit cards can be referred to as specialized credit cards or bad credit credit cards.

TYPES OF BAD CREDIT CREDIT CARDS

There are different types of credit cards for bad credit.  If you cannot qualify for a regular card because of bad credit history or low credit rating, you have a number of options to choose from.  Consider the following types of specialized credit cards for bad credit:

Secured Credit Card.
Unsecured Bad Credit Card.
Prepaid Debit Card.

Read more What Are Specialized Credit Cards?

Resources for YOU:

• Credit Cards for Bad Credit
• Pre-paid Credit Cards
• Instant Approval Credit Cards

More consumers paying credit card bills on time

In another sign of household belt-tightening, the rate of late credit card payments fell to a 17-year low in the second quarter.

The national credit card delinquency rate, which measures payments that are 90 days or more past due, was 0.6% at the end of the second quarter, according to credit reporting agency TransUnion. That's down nearly 19% from the first quarter and 35% from the second quarter of 2010, TransUnion said.

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Resources for YOU:

• Credit Cards for Bad Credit
• Secured Credit Cards

More homeowners refinancing into shorter loans: survey

(Reuters) - More homeowners prefer to pay off their mortgages sooner as interest rates have stayed near rock-bottom and weak labor conditions have caused them to reduce their debt loads, a survey showed on Monday.

The current trend in refinancing into shorter-loan terms is a stark contrast to the one during the height of the housing boom, when families were taking out bigger mortgages against the rising values of their homes.

Of those homeowners who refinanced a 30-year fixed-rate mortgage during the second quarter, 37 percent moved into a 15-year or 20-year fixed-rate loan. This is the highest since the third quarter of 2003, mortgage finance agency Freddie Mac said.

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Resources for YOU:

• Credit Cards for Bad Credit
• Secured Credit Cards

 

How a Credit Card Improves Bad Credit

If you have a problem with your credit score, you may consider using a bad credit credit card to improve it.  On this post, we present tips on how you can use a credit card for repairing bad credit:

• Choose an affordable card. 
• Pay on time.
• Use your bad credit credit card regularly. 
• Pay in full. 
• Use only half of your limit. 
• Plan your purchase. 
• Track your progress. 
• Upgrade to an unsecured card.

Read more How a Credit Card Improves Bad Credit

Resources for YOU:

• Credit Cards for Bad Credit
• Secured Credit Cards

Bad Credit Personal Loans for Different Purposes

Many people apply for different types of loans to meet their needs.  While many lending companies have strict standards when it comes to evaluating a borrower’s credit history and credit score, some lenders are more lenient in approving loan applications.  Since there is a great demand for bad credit loans, an increasing number of lenders are willing to extend financing to borrowers with below average credit rating or bad credit history.

A bad credit personal loan can be used for varying purposes.  For instance, some people use a bad credit personal loan to consolidate debts.  By paying their creditors once and for all, the quick build-up of debt can be avoided and the borrower only has to deal with one lender.  Bad credit loans can also be used to pay tuition, improve or renovate the home, go on a grand vacation, finance a wedding, start up a small business, and other purposes.

Read more Bad Credit Personal Loans for Different Purposes

Resources for YOU:

• Bad Credit Payday Loans
• Bad Credit Car Loans

Avoid These Bad Credit Card Habits and Be Debt Free

Many people who own credit cards get stuck in serious debt problems primarily because they failed to manage debt and credit effectively.  While using a credit card is not bad, consumers need to pay close attention to their credit card use to avoid debt-related problems.  In this article, we present 5 bad credit card habits that cardholders need to steer clear from to be debt free:

• Using a credit card on a whim.
• Carrying a balance frequently.
• Not checking your credit card statement.
• Delaying payment.
• Applying for more credit cards than you can handle. 

Read more Avoid These Bad Credit Card Habits and Be Debt Free

Resources for YOU:

• Credit Cards for Bad Credit
• Instant Approval Credit Cards

8 Facts You Must Know About Bad Credit Credit Cards

If you need a credit card for bad credit, you will come across many choices in the market.  On this post, we talk about eight facts about bad credit credit cards that you should know.

1. Some credit cards for bad credit require a security deposit. 
2. Some credit cards for bad credit do not involve security deposit. 
3. The rate is higher than a regular card. 
4. Not all prepaid credit cards can be used to rebuild credit score.
5. The fees may lead you to bad credit.
6. You can use your credit card to rebuild bad credit.
7. Not all bad credit card issuers offer an upgrade.
8. Not all bad credit card offers are legitimate.
   

Read more Facts You Should Know About Bad Credit Credit Cards

Resources for YOU:

• Bad Credit Cards
• Instant Approval Credit Cards

TEXT-S&P: SF Ratings Remain On CreditWatch Neg After U.S. Downgrade

(The following was released by the rating agency)

OVERVIEW

-- Since July 15, 2011, we have placed our ratings on 744 structured finance transactions on CreditWatch negative due to exposure to the sovereign credit risk of the U.S.

-- We lowered our long-term credit rating on the U.S. to AA+/negative outlook and removed it from CreditWatch negative on Aug. 5. We affirmed the short-term rating on the U.S. at 'A-1+' and removed it from CreditWatch negative. The transfer and convertibility assessment of the U.S. remains at 'AAA'.

-- We will review each structured finance transaction with ratings placed on CreditWatch negative, as well as any additional transactions we expect may be affected, and take rating actions as we deem appropriate. Pending completion of our review, we expect that our ratings on some of these transactions will remain on CreditWatch negative.

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Resources for YOU:

• Personal Credit Loans
• Bad Credit Car Loans

S&P: Further US Credit Downgrade Possible

The U.S. government’s credit rating could be downgraded even further, according to the rating agency that removed the United States from a list of top-tier creditworthy nations.

Standard and Poor’s judgement

Days after Standard and Poor’s made headlines across the globe by saying the United States no longer merits its highest AAA credit rating, the firm’s managing director, John Chambers, says another downgrade cannot be ruled out if America’s worsening fiscal imbalances do not improve.

“If the fiscal position of the United States deteriorates further, or if the political gridlock becomes more entrenched, then that could lead to [another] downgrade.

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Resources for YOU:

• Personal Credit Loans
• Bad Credit Car Loans

Financial markets: State of emergency

In 2007 the world financial system suffered a near death experience. You could have been forgiven for thinking that it was happening all over again

The conventional wisdom is that August is a sleepy month for markets, with politicians, policymakers and investors all at the beach rather than at their desks. The conventional wisdom is wrong. The credit crunch really kicked off on 9 August 2007, when the French bank BNP Paribas suspended three of its investment funds that had been dabbling in US sub-prime mortgages. Within a week, the Bank of England's Mervyn King was getting warnings that Northern Rock was in grave danger if the squeeze in money markets dragged on (not that it had any effect on Threadneedle Street's policies). Over the course of that month, the interest rate that banks charged each other for loans – the London inter-bank offered rate (Libor) – surged. Investors and commentators began talking about a credit crunch. Traders and fund managers who were catching some sun found themselves glued to their BlackBerrys and on the phone to their offices. These were the first steps that led to the collapse of Northern Rock in September, and ultimately to a near-death experience for the world financial system. And yesterday you could have been forgiven for thinking that it was happening all over again.

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Resources for YOU:

• Credit Loans
• Bad Credit Car Loans

China warns U.S. on managing its debt

HONG KONG — China's central bank governor called Wednesday for the U.S. to "take responsible policy measures to handle its debt," a day after the world's largest economy reached a bipartisan deal to reduce its deficit and lift its borrowing limit to avoid a default.

The comments from People's Bank of China Governor Zhou Xiaochuan, posted on the central bank's website, signal China's lingering concern over America's financial health. China is the U.S.' largest foreign creditor, holding at least $1.16 trillion in Treasury securities.

Zhou also warned that stability is needed in the highly traded U.S. debt market, and said China plans to continue diversifying its currency reserves.

"Large fluctuations and uncertainties in (the Treasury) market would undermine the stability of the international financial system and hinder global recovery," he said.

China isn't the only one concerned with the U.S.' financial condition.

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Resources for YOU:

• Credit Loans For Bad Credit
• Bad Credit Car Loans

When In Need of A bad Credit Car Loan

You badly need to get a car loan at this time but your credit score is way below average.  You are doing your best to improve your credit but waiting for another 6 months before applying for a car loan is not an option.  You wonder, can you get a car loan with bad credit?  And the answer is yes, you can!

While many lending companies prefer customers with exemplary credit history and credit score, you can also find lenders who offer special loan programs for people with bad credit.  These loans are also known as subprime loans or bad credit loans.  Due to the fact that a large number of customers in need of financing do not have perfect credit, lenders had to provide a way to cater to the bad credit market.

Read more When In Need of A bad Credit Car Loan

Resources for YOU:

• Credit Loans
• Bad Credit Car Loans

Reminders in Borrowing a Secured Loan

As the term suggests, a secured loan is a form of financing that is guaranteed by the submission of collateral.  The collateral can be a home or other valuable asset that matches the value of the loan.  By pledging collateral, the lender is given assurance that in case the borrower defaults payments, an available resource can be used to pay the remaining debts.

Are you planning to apply for a secured loan or bad credit loan any time soon?  If yes, listed below are important reminders you should not forget:

• Know the risks. 
• Negotiate for a better term.
• Read the fine print. 
• Never be late.

Resources for YOU:

• Bad Credit Secured Credit Cards
• Bad Credit Payday Loans