Secured Credit Card, a Safer Guaranteed Credit Card

As a freelance, Julia always has difficulty when applying for a credit card. Understandably, besides having no salary slip, Julia’s monthly income was not fixed. Even if the total income can always be above five million, it is still difficult to penetrate the credit card application requirements at a number of banks.

In fact, Julia’s goal to have a credit card is nothing but to make her finances more controlled. He wants to make transactions easier and monitor his spending history. Not to mention, there are a number of features on credit cards that if used wisely can make Julia more economical.

Ever experienced something similar? If so, maybe you need to get acquainted with a secured credit card (SCC).

 

Secured Credit cards

Secured Credit cards

Secured credit cards, aka credit cards with collateral, have features, functions, and uses that are not much different from credit cards in general. With a secured credit card, you can also shop for non-cash or use PayNet services.

However, unlike ordinary credit cards, SCC does not take into account employment status and income. Instead, the SCC requires a guarantee fund to be held in an account at the same bank as the SCC issuing bank. The form of funds can be in the form of savings or time deposits.

With minimal requirements, the process of making a guaranteed credit card is even easier and faster than a regular credit card. As long as guarantee funds are available, SCC can be approved immediately.

The guarantee fund is also used as a determinant of the credit card limit. The greater the guarantee fund, the greater the limit that can be obtained. That way, you can set the limit you want.

How, interested? Before submitting an application, let’s understand more about credit cards with this guarantee.

 

The difference between credit cards and secured credit cards

In addition to much less requirements, secured credit cards have several other differences with ordinary credit cards. The following are:

1. Method of payment

SCC users must pay in full payment. Unlike ordinary credit cards that provide minimum payment options. Even so, banks provide a grace period of payment or grace period until the due date.

2. Limit

The credit card limit has been determined by the bank taking into account the amount of customer income. While the SCC limit is determined based on the nominal funds used as collateral. Generally, the SCC limit is 80-90 percent of the guarantee fund.

3. Bad credit

If the credit card bill is not quickly paid, the interest charged will multiply from month to month. If there is no good faith from the customer, the bank can use the services of debt collectors alias debt collectors.

Unlike ordinary credit cards, debt collector services are not needed in the SCC, because if the customer has debt arrears, the bank can take collateral and close the SCC card.

 

Security deposit status

credit cards

Funds used as collateral will not be contested by banks as long as SCC payments are always smooth. Funds must also be safe because they are guaranteed by the Deposit Insurance Corporation (LPS) as long as the value is not more than $ 2 billion.

Customers will also continue to get savings or deposit interest as usual. But, new funds can be disbursed after the SCC is closed and all bills are paid.

SCC is suitable for those who want to manage expenses by using credit card facilities, but cannot meet credit card requirements. For example, small businesses, housewives, and freelancers. This card can also be used as a tool by parents to train children to manage their finances.

 

How to apply for a secured credit card

secured credit card

To make a credit card with collateral, of course you must have prepared funds that can be placed as collateral at the card issuing bank, either in the form of savings or deposits. The value depends on the policy of each bank.

For example, the Good Lenders credit card from Cream Bank that offers a guarantee fund starting from $ 500 thousand with a card limit of 90 percent of the guarantee fund or as much as $ 450 thousand.

Next, just come directly to the bank branch office that offers the desired secured credit card. Some banks also provide online or application submission facilities.

There are also banks that deliberately do not display information about this card on the official website. However, that does not mean the bank does not offer a secured credit card. Therefore, you should come directly to the branch office or contact the relevant customer service to get more complete and accurate information.

If the credit payment history is always smooth and without problems, this card can also be used as a reference for regular credit card submissions for beginners.

Before submitting, don’t forget to pay attention to the fees charged on making and using the card, ranging from annual fees, transaction interest, cash withdrawal fees, late payment fees, to card closing costs. Good luck!

5 Use of Credit Cards That Make People Envious

For many people, having a credit card is a blessing. So many uses of credit cards that can be used to lighten everyday life.

Indeed, a credit card is like a double-edged dagger. If used appropriately and in accordance with the purpose, its usefulness will be felt. Meanwhile, if not careful, woe to the consequences.

You who have enjoyed the use of credit cards, including first class dagger users. You have been able to take responsibility as a credit card user.

Conversely, for those who have credit cards and get into debt because of their use, it’s better to review your ownership. It could be that there are many out there who are more worthy of having the magic card.

After all, not a few of those who are curious want to feel the use of credit cards but keep failing. The reason is none other than the rejection they get when applying for a credit card.

Then what exactly is the use of credit cards? The following are:

 

Simplify transactions

Simplify transactions

Imagine you want to buy a laptop for $20 million. When you bring cash, of course it will be troublesome. You must carry a large envelope, but it can be seen conspicuously and there is a risk of theft. There is no way for that kind of money to fit in a wallet.

Transactions will be easier if you use a credit card. Simply insert a thin card, payment can be completed without hassles.

Even for transactions with smaller values, the use of credit cards is very visible. Make monthly shopping at the supermarket, for example. You and the cashier do not need to count sheets after sheets of money when paying. Simply swipe, sign or enter PIN, done.

 

Avoid fines

Avoid fines

The use of a very valuable credit card is to prevent additional expenses due to negligence. You must have regular bills every month, such as telephone, water, electricity, and cable television.

Everyone’s busy life is different, but there is a possibility that you will get lost in work activities or whatever and forget to pay the bill. The key to avoiding fines due to negligence is a credit card.

This marketplace works closely with service providers in payment. You can pay your bills manually or automatically, just manage. But don’t forget to keep checking the nominal bill. Do not pay more than usage.

 

Foreign exchange instruments

Foreign exchange instruments

For those of you who often travel abroad, it feels less afdal if you do not have a credit card. One of the uses of credit cards is as a medium of exchange in force abroad.

There are two types of credit card networks in Indonesia, namely Mastercard and Visa. Depending on your credit card network, transactions abroad can be done without having to exchange money into the country’s currency.

Later the nominal transaction is converted to rupiah in accordance with the current exchange rate. You just pay the bill after the vacation is over.

 

Manage finances

Manage finances

If using a credit card, all transactions are recorded properly. The expenditure data is in the billing statement, complete with the transaction date. This means you can manage finances more closely.

You can use last month’s expenditure data to manage finances next month. For example, last month used up $2 million for A, B, C, to Z. Next month that figure could be a benchmark as a maximum expenditure limit.

It’s different if you record expenses manually. There could be expenses that escaped the record, especially the small ones. Credit cards can help with this problem.

The use of credit cards to manage finances is also apparent when there is an emergency and urgent funding is needed. For example the house leaked during the rainy season so it needs immediate renovation.

When money is thin, credit cards are the solution. You can pay behind using a credit card. You can even use the installment facility with interest up to 0 percent for 24 months.

 

Relieve expenses

Relieve expenses

Everyone wants to ease expenses, including you for sure. With a credit card, expenses will be lighter because of the various promotions offered.

For example cash back or a percent discount from credit card transactions. Or points that can later be exchanged for certain prizes, such as free airplane tickets, when you have collected a lot. It could also be a 0 percent installment that makes expenses lighter every month.

A series of credit card uses can not be denied making many people jealous, especially those who do not have it. If you feel you have not been able to drink the benefits of the credit card, you have not been able to maximize it. Now is the time to change.

Bank offers loan for pensioners over 70.

 A loan for pensioners over 70 is unfortunately not a matter of course. The path to credit often poses great hurdles for seniors. The article reveals more about the problems and solution options for senior loans.

Loan for pensioners over 70 – a problematic loan request

Loan for pensioners over 70 - a problematic loan request

A loan for pensioners over 70 should be taken for granted given the increasing life expectancy. Unfortunately, word has not yet got around to the credit institutions that “the Germans” are getting older. Although there are no legal age limits for lending, the hurdles of in-house regulations make senior loans difficult. Above all, lenders fear the risk of illness and death of the borrower.

Remedial debt insurance could help. Nevertheless, this solution is not provided for in the regulations at many local banks. There are evasion options through the change of provider. But even then, lending is never considered safe.

Many loan providers don’t even bother to check loan applications for retirees over 70 years of age. The background is less the age than the type of income. The amount of a pension cannot be compared to a pension.

Poverty risk prevents lending

Poverty risk prevents lending

Pensioners have no lobby. Unlike an official, the politicians in Berlin are not in the “boat” of retirees. A personal later risk of poverty plays no role in their decisions. Your pensions are extremely high and are subject to the requirements for pensions. The result is a gross mismatch between average pension payments and average pension.

An average pension, Eastern and Western pensions combined, amounts to around 1,100 USD according to the German pension insurance from 2012. The difference up to the attachability is thus 50 USD. In addition, with many old pensioner couples, usually only one receives an adequate pension. The other partner took care of the household and did a part-time job, as was traditionally required. The spouse therefore does not receive his own pension in many pensioner families. This raises the limit of the non-attachable family income to 1,430 USD.

The family income is thus far below the limit that enables lending at all. If one of the partners were to become ill or in need of care, a proper loan repayment can no longer be assumed.

What are the credit opportunities for 70-year-old pensioners?

What are the credit opportunities for 70-year-old pensioners?

Only the credit opportunities for people with poor credit ratings remain for pensioner loans above the age of 70. The loan offers of various credit intermediaries would be possible without outside help. However, this credit option requires a good pension and perhaps even unencumbered property ownership. There are clear restrictions on the amount of the loan. In addition, the offers become more expensive due to risk interest, agency fees and residual debt insurance.

Another option would be to ask the children for help. With a solvent guarantor or co-applicant, the pensioner loan can be used extensively and with almost every provider.

The private credit market also offers fair credit opportunities via one of the portals on the Internet. The high repayment fidelity of the senior citizens, certified by Credit Bureau with 99 percent, improves the prospect of receiving the loan for pensioners over 70 from private.

Loan for 2000 USD – a bank offer.

 

If your dreams and desires can only be fulfilled with the help of money, then many people consider whether they should take out a loan for this. Not an unusual activity in our time, as several thousand loans are issued by banks and savings banks every day. In this context, it is particularly small loans that are in great demand. It does not matter whether a loan for 2000 USD or a similar amount.

Take out a small loan over 2000 USD

Take out a small loan over 2000 USD

Usually you choose a loan for 2000 USD if you either need some additional money for an investment or if the desire or the project is not so big. Many consumers also take out such a loan when they want to go on vacation. Or even if an old debt is to be paid off.

No matter which project you want to implement with it, taking out a loan is quite easy. Because you can contact any credit institution for this. Older consumers in particular opt for admission to a local bank. By advising an employee, individual questions about the loan for 2000 USD can be clarified. All things that are relevant to the loan are easy to inquire about.

Other consumers, on the other hand, use the Internet to take out a loan for 2,000 USD. The main advantage here is the ability to make a fairly extensive comparison. And without much effort. All you need to do is provide some credit-related information. A comparison calculator evaluates this and uses the information to create several suitable loan offers. As a searcher, you can then compare the offers in peace and choose the best offer for the loan. In most cases, the loan application can be made online. The computer links directly to the provider.

When a loan can be taken out for 2000 USD

When a loan can be taken out for 2000 USD

You can always take out a loan if the creditworthiness is correspondingly good. This consists of several components. So it is important that the prospect does a regular job that generates a high income. In addition, there can be no negative Credit Bureau entries. This is the only way to maintain creditworthiness. The type of work can also influence creditworthiness. This means that officials have a better credit rating than a worker.

Temporary workers or self-employed, on the other hand, have a poorer credit rating because they do not have a fixed employment contract and not only do they face unemployment at any time, but their income can fluctuate from month to month. If this is the case, then even with this rather small loan amount, a guarantor should be considered from the start. This can increase the credit rating and thus increase the chances of getting a loan.