5 Things to Consider When Applying for a Personal Credit Card with Bad Credit

5 Things to Consider When Applying for a Personal Credit Card with Bad Credit

Are you thinking of applying for a personal credit card but have bad credit? Truth is there are many types of cards that suit you. However, because of the bad credit, you may be inconvenienced by the higher rates of payments, lower credit limit, or restricted use. The following are issues to consider prior to making your application:

1. Why Are You Applying For The Credit Card?

People apply for credit card for different reasons. Some do it to consolidate other credit cards; others want to rebuild their credit, while some want to use it on shopping. So, why do you need it? Is it for making purchases, or rebuilding your credit score? If your other cards are already taking nearly 30% of the limit, then the best approach is to consolidate all the cards into one.

2. How Many Loans AND Credit Cards Have You Applied For?

The common notion is that the more cards you apply, the more likely you will get one. However, mass applications may actually harm your approval. Analysing the credit card takes as much as 10% of the total score. A provider will have reason to believe that you applied for many other credit cards without success.

3. Have Your Spending Habits Changed?

Maybe you allowed the outstanding payment become overdue, or you regularly exceeded your line or credit limit. Before applying for another personal credit card, it is important to take a look at your spending habits. You should have put in place measures that will help you stick within the recommended limits, and also making sure you repair your bad repayment history.

4. Do You Have Too Many Subprime Loans?

Before making your application, you need to go through your credit report to verify how many subprime lenders are listed. Credit card companies pay attention to the kind of creditors you transact with. Having too many subprime lenders affects your credit mix, and lowers your credit worthiness. They may think twice before approving your card as they see you more of a risk or liability.

5. Have You Co-signed A Loan?

If you have co-signed a loan to a friend, family member, or anyone else, you first need to find out whether the person is paying on time. Many people get shocked when their credit score dips even when they are maintaining it. Normally, a credit card company only calls a defaulter after 90 days have elapsed. And since you were a co-signer, then the missed payments will negatively affect your credit score.

Having bad credit doesn’t mean that you can’t qualify for a credit card. In fact, with a bit of research, you will be able to locate a good service provider. Nonetheless, unlike in the ordinary credit card, you may be required to pay higher interest rate, or will qualify for a lower amount. Besides accessing credit, you can also use the personal credit card to rebuild your credit.

Cook Your Way to Success

Cook Your Way to Success

Let me begin this article with a story. There were two friends named John and Tom, they both were in their mid twenties, and both had big dreams. John was a techie. He was really good with systems, and his company paid him a really good salary for that. Tom was a chef at a reputed eatery. He too was really good at his job, and was well paid. They had well settled lives. They were happily married, and lived a luxurious lifestyle. Can anybody ask for anything more? John was content with his life, but Tom was not. He wanted to be an entrepreneur. He wanted to own a hotel business. John although had the skill required to start his own IT firm was unwilling to come out of his comfort zone. He was worried about various hurdles such as working capital required to start his own firm, and what if his business idea flopped? Tom on the other hand thought differently. He wanted to be the boss. He believed in “no pain, no gain”. He took a loan and started his own restaurant. Initially, it was tough but slowly but surely, his business picked up. After five years of hard work, he had his own chain of restaurants, and mind you, they were well known too. Tom has built an empire for himself and for his generations to come. On the other hand, John is tired of slogging, and frustrated with his appraisals. John has lived a comfortable and stable life but is not sure of his future.
The story above illustrates how little risk in life makes a huge difference. Getting a good job is a good idea, but deciding to become an entrepreneur is a great idea. If you have already decided to become one but wondering which startup would give you good returns, stats have proved that owning a hotel business is a really good idea.
Here are some facts for you:

  • During recession, only the education, hospitalisation, and the hotel industry still grew at a healthy rate.
  • 85% of Americans prefer dining out.
  • About 5% of World’s richest people are Hoteliers.

Apart from these, there are various reasons why owning a hotel business is a great idea. Owning a hotel business requires the owner to have little or no working knowledge. The capital required is basic, and there are many financial firms and institutions that will happily lend you money for starting a hotel.

Making Money with Internet Marketing Business

Making Money with Internet Marketing Business

As an online marketer / entrepreneur, making a wrong choice of internet marketing can make a difference between the success and failure of your business. There are lots of marketing techniques; some are white, while others are completely black. Affiliate marketing is a complete white hat marketing technique that stands out among the rest. This is an internet-based marketing practice in which a business rewards publishers /sales people for each visitor or customer brought by their affiliate marketing efforts. Similar to referral business, you as a publisher will be rewarded when you help a company / business by promoting or marketing their products or services online. If you register for a particular company’s affiliate program, and you promote their services or products on your websites, blogs, and other marketing platforms online , you will get a specific amount of money as commission when the visitors you refer to their site makes a purchase.
When done properly, this business is second to none in the world of e-commerce. It can change your fortune from good to better and better to the best within a short period of time. All you need is the understanding of all the dos and don’ts involved, and how best to leverage the potential for success.
Tips in Making Your Business Profitable

1. Focus on a Niche Market

You don’t need to turn yourself into a jack of all trade when it comes to affiliate marketing business. This is one important thing to know. Unlike most e-commerce, affiliate marketing business needs a focus on a niche market. You need to first research a niche market, and settle for a choice of one, preferably, your area of professionalism. If you are an engineer, you deal with affiliate marketing that has link with engineering. If you are a medical doctor, you center your affiliate business on medical niche. When you stick with what you already know, it will be easy to establish yourself as an expert on the topic.

2. Only Choose a Handful of Good Products

When starting an affiliate business, exercise your due diligence, and register just one program. This is one mistake most newbie in the industry always make. They will register too many different affiliate programs, and start promoting everything at the same time. Pursuing affiliate marketing down this path can become cumbersome, and you won’t be able to promote any product properly. When you do this, you will be overwhelmed with the responsibilities of handling many tasks at the same time, which will not be in your best interest. In affiliate marketing business, all you are required is a handful of good products.

3. Embrace the Latest Marketing Techniques to Promote Your Products and Services

Most affiliate marketers put up the ads only on their sites and blogs, thinking that this is the only cost-effective way they can easily redirect people to buy product from their affiliates company’s websites. CAPITAL NO. Though there is nothing wrong with this approach, there are many other cost-effective traffic sources that you can tap into, and promote the products simultaneously. Social media is trending, and you can make use of this to boost your affiliates business. Most social medial sites are free to use, and you will not be required to pay any dime to use them for marketing. Content marketing is equally okay, and also free to use. You write article / contents that are related to the type of business, and place them on different article submission sites online. There are hundreds of such sites, and most are free to use. Google Adwords is also not left out. This can be used to drive targeted traffic to a sales page. You simply make an ad in your adwords account then use your affiliate link in the target page URL of the ad.