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Consider Prepaid Debit Cards for Travel

Nothing like a beautiful sandy beach, a turquoise ocean and a cabana boy ferrying mai-tais to let you convince yourself you CAN spend a little extra. The credit card limit is twice the debt on there now, after all.  You won’t be angry at yourself for. . . say . . . another ten days or so. And you’re having so much fun!

Taking convenient prepaid debit cards on your trip instead ensures today-self and future-self remain in harmony.

European, Asian and the Middle Eastern travelers have been using prepaid debit cards for years. It’s time Americans get with this convenient — and budget-friendly — payment method. Prepaid cards are safer than cash because they require a code to redeem. You can get a prepaid card in a few days online without having to go to a bank, and there are no credit dings for getting one. Some prepaid cards can even be pre-loaded with the currency of the country to which you are traveling. In that case, if exchange rates favor your currency, you can save on purchases once you land!

Prepaid cards ensure you’re not stuck, either. You can always reload them as long as you have access to the internet. Because you reload them with funds from your bank account, you’re less likely to put too much more onto the card. Also, just the process of having to go to the internet and make the transfer helps to stop you from your impulse purchase.

Another advantage of using prepaid debit cards for travel is that you have a list of all your purchases available either via your computer or phone. This is particularly important if you have teens traveling with you. They want their independence and a little money to spend. But before you let them out of the hotel, make it clear you will know where their money is going.

While you will miss out on the rewards that credit card companies now offer, the prepaid debit card helps protect you from your own lack of discipline. That can mean more savings. Get this aspect of your travel taken care of when you order prepaid debit cards online now.

7 Ways to get Your Credit Score Over 800

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 Having an excellent credit score opens up so many more possibilities for you. But if you suffer from a low credit score, all hope is not lost. Here are seven ways to be one step closer to getting a credit score over 800…

1. Pay On Time

Think back to when you were in grade school, and your teacher drilled you to always turn in your homework on time, on the date it’s due, no exceptions. Credit card payments are the same. Make sure to turn in payments to your cards on time, without running a balance on them.

2. Consider Using Payment Tools

If remembering payment dates proves too difficult for you, you can always set up an automatic bill pay, or set up payment reminders. There are even some banks out there that will provide complimentary bill pay reminders via texts or emails.

3. Look for Large Limits on Credit Cards:

It is better to have a large credit limit on a card, as it doesn’t affect your rating if you spend more on that card. Conversely, if you have a lower credit limit, then it is easier to hit the limit, and that will negatively affect your credit score. Don’t fall for the temptation of thinking that just because you have a $50,000 credit, you have $50,000 to spend. To maintain a high credit score, you should use very little of that. In fact, you should keep it under 10% of the credit limit.

4. Don’t Over-Apply

Don’t be swayed by every credit card offer that arrives in the mail. Each time you apply for a new credit card, your overall credit score drops. Instead, work on getting higher limits on the cards you have.

5. Variety is the Spice of Life

Having a variety of diverse loans (including credit cards) in your overall credit collection also boosts your credit score. This can include not just credit cards, but also mortgages, automobile loans, et cetera. If you can prove that you can pay on several accounts reliably, your credit score will be higher.

6. Don’t Forget About those Under-Used Cards and Don’t Cancel Them

You need to prove that you can pay your cards on time, including those underused cards. It’s highly recommended that you not cancel those cards you don’t use regularly, because doing so will reduce the total amount of credit you’re approved to borrow. You also want to show that you indeed have a history of paying all of your cards on time, including the lesser used ones.

7. Check for Errors on your Credit Report
Yes, it is a fact that even the credit score agencies are not perfect, and sometimes have errors on their reports. Be sure to locate these mistakes and then call and have them corrected. Your credit score will benefit as a result.

8. Try Asking for a Break
It doesn’t hurt to call and ask to have late payment penalties taken off of your credit history. Sometimes if you’re polite about it, companies will remove the causes of your bad scoring, so you won’t need to wait. You have nothing to lose in asking.

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First Financial Personal Loans Provide the Savings that only Online Functionality Delivers

First Financial’s lending partners can provide low cost personal loans because of their cost-saving, online structure. Apply for an affordable personal loan here, even if your credit rating is “fair,” “poor” or even “bad.” Our comprehensive application was designed by financial professionals who understand that an applicant’s financial history can be complex. Fill out the application in minutes and learn how much you qualify for within 48 hours. Follow First Financial on Facebook to get smart budgeting and saving tips, too!

5 Common Mistakes to Avoid when Getting a Personal Loan

 Don't waste your money on penalties and fees!

Don’t waste your money on penalties and fees!

 Between mortgages, car loans and department store cards, nearly every American has borrowed money at one time. The federal U.S. government is indebted to private lenders and other countries to the tune of 15 million dollars. States owe each other and their citizens in the form of bonds. If you need a personal loan to help you with education, an emergency, medical expenses and more, you have lots of company.

Since the loan will be amortized or spread out over years, every point of interest saved helps. When considering a personal loan, make sure you don’t make the following common mistakes:

  1. Applying only at your bank or your neighborhood banks.  Both credit unions and online banks offer lower rates and better terms because they spend far less on marketing, human labor and overhead. Many of their processes are automated. All those saved costs allow them to offer lower personal loan interest rates.
  2. Not knowing eligibility terms and incurring dings to credit. Every loan officer must check an applicant’s credit during the approval process. If you apply for loans that require excellent credit score when you only have a fair credit score, you won’t get the loan and your credit score will be impacted.  Some people apply for so many loans that they ruin their chances of applying for anything!
  3. Agreeing to the first loan terms offered. Most loan officers have some wiggle room on interest rates and terms. It’s important to at least attempt to get the numbers more in your favor to increase the chances that you’ll be able to repay on time.
  4.  Borrowing Money You Can’t Pay Back.  Asking for more than what you really need can get you into trouble. The interest on the extra builds up, raising payments and interest in a selfperpetuating cycle.
  5. Rushing through the fine print in the contract.  To avoid late payment penalties that could swell the principle, make sure you know the loan’s terms:
  • Amount of interest
  • Maximum debt
  • Penalties for skipping payments
  • Penalties for late payments
  • Length of loan

Get a Personal Loan Safely Online with A+ Rated First Financial

An online bank, First Financial provides a quick application that you fill out in the comfort of your home. Once you’ve been approved, the cash usually appears in your account that evening. To get daily financial tips remember to like our Facebook page.

 


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