Do charity credit cards really make a difference?

As they aptly state, charity begins at home, and in the case of charity cards although one might feel really good and positive by doing their little bit for the underprivileged, one might be pushing oneself down the debt well.

Therefore, when one opts for a charity credit card, one feels all hunky dory about doing their little bit for charity, but you might just not be able to draw the line on your spending and end up needing charity yourself. This is the only thing that you need to take into consideration. If you can handle this issue well, you can always opt for one such credit card.

However, there is one important thing that you should also bear in mind when using these types of cards. The thing is that charity credit cards donate an extremely low percentage of the money collected to charity. If one were to calculate it, it might almost work out to be a drop in the ocean. If you are really interested in opting for a charity credit card then before you consider opting for it, check the amounts that each card charges and what is the percentage that is donated to charity. This will enable you to not opt for a charity credit card with their eyes closed.

Some people when they found out about the logistics of charity credit cards and the miniscule amount that ultimately lands up at the doors of the charity house, opted for other means. In the realm of credit cards, one might want to consider taking a cash back credit card instead and the amount generated from it can be donated to your favorite charity.

Another thing with charity cards is that the amount might be donated to a charity house or cause that might not have bought your favor. There might also be the case of your favorite charity not featuring in the list or newer charity houses being overlooked. Although charities really do appreciate the amount that credit card companies donate to them.

Charity credit cards allow one to use the rewards program not for their selfish needs. The act of giving is always appreciated and is not only good for the receiver, but does immense good to the giver too. So, if one is able to keep a tab on ones spending and not go overboard, charity credit card can work out well.

Should You Hire Credit Repair Services or Do It Yourself?

The answer to whether you should repair your own credit or leave it to one of the many companies that offer credit repair services lies with you, your particular financial situation and the amount of time & patience you are willing to commit to the process. But how do you know whether you're up to the task or if you should leave it to professionals who do this for a living in the first place? Well, below is just a brief list of steps to mull over before you make your decision.

Step 1: Know your limitations

Can you repair your own credit? I'm sure at one time or another you asked very similar questions. Can you do your own taxes? Tile your own bathroom? Perform your own open heart surgery? All right, so I don't expect anyone to be able to do the last one. But hopefully you get an idea of what I'm getting at - credit repair is a service that you pay a professional to do because you may not have the time, or you just want to make sure that it gets done properly.

Proper credit repair usually entails writing letters to all three of the credit bureaus, writing letters to collection agencies and lawyers, calling collectors to negotiate debt payments, keeping very detailed records of all pertinent correspondence, and of course, waiting. It is entirely possible to repair your credit yourself. The less derogatory information on your credit reports, the easier it is likely to be.

Step 2: Know where to start

Whether you decide to repair your own credit or hire someone, the starting point is the same: gathering the paperwork for every financial transaction you've done over the past ten years. Generally this means ordering your credit reports from the three credit reporting agencies - Equifax, Experian and TransUnion. Though it will likely require some digging through your own files to verify or renounce the validity of the information on these reports.

Step 3: Know the obstacles you face

The first obstacle is ordering, receiving and deciphering your credit reports. While not impossible to read, they are full of abbreviations and codes, so it may take a little research and some getting used to before you're completely comfortable reading them. Additionally, all three bureaus report formats are slightly different and are likely have different information, so be prepared verify accounts against your own records.

The overall timeframe tends to make things a little more frustrating than necessary. The credit reporting agencies have 30 days to examine disputes and will not investigate any more than 5 at a time. Often you may need to dispute an account more than once to get the proper result. Using snail mail the process generally turns into a 45-day turnaround period; indicating that if you dispute just twice, you're looking at 3 months time. Now factor in the time spent on the phone with collection agencies and debt collectors to try and negotiate debt that you've accumulated, and time spent documenting every correspondence you've had with all of these organizations, and it starts to add up.

Step 4: Know the laws in your state

The Statute of Limitations is different in every state, so certainly learn the laws specific to your state. Also understanding the Fair Credit Reporting Act (FCRA) thoroughly should be on your agenda if you decide to repair your own credit.

Understand that whether you do it yourself or hire help that you should only be disputing accounts that you believe are somehow incorrect or are not yours at all. Beware of a credit repair company that wants to dispute everything or promises deletions; you should expect to pay debts that are actually yours and are not past the Statute of Limitations. Just to reiterate: if a debt is actually yours, be prepared to pay it. Neither you, nor any company with a magic wand can make an accurate account disappear.

Step 5: Know how to boost your score

Simply deleting derogatory items & paying off some debt isn't going to turn your score around. You need to exhibit to lenders that you are responsible with credit. This is determined by how long you've had good credit, the number & type of revolving accounts that you have and their balances, and your payment history, among other factors. Many consumers have items deleted from their credit reports only to see their score go down. While the credit score formula may be guarded closer than the colonel's original recipe, credit repair services generally have an idea of what it's going to take to get you moving in the right direction.

Again, it is entirely possible to save money and handle your credit repair yourself, however you need to assess whether this is an undertaking for you. Each individual is different, as is their financial situation & credit profile. Quickly running through these steps should give you a better idea as to what your next step should be. A little hint ... Step 6: Get started today!

Visa Card Application - 3 Keys to Obtain a Credit Card

Everyone should have a Visa card or a Mastercard card. These cards open doors for you. But if you do not have a financial track record, it will be very difficult to obtain one of these cards. Banks and other lending institutions have become much more selective, and are therefore far less willing to extend credit to people.

Visa and Mastercard are accepted in more places than any other card. It is important to possess at least one of these borrowing vehicles. If you already have one, and have been making timely payments, it would be fairly easy to obtain another one. But if you do not have one, or have never had one previously, it can be difficult to obtain one. Lenders are reluctant to extend credit to people who do not have a financial track record.

If you do not have a financial history, you need to establish yours. You can establish yourself in the financial world by obtaining a different type of card. Here are three easiest cards to obtain in order to help you establish a credit history:

Department Store Card

You can easily apply for a department store card. These tools are to be used exclusively for the store that you from. Many department stores offer these types of lending vehicles.

Gas Card

Gas stations are willing to extend credit to individuals as well. Their cards are only good at their gas stations.

Secured Card

A traditional card is readily made available to people who have a financial track record. Secured cards, as the name implies, have a collateral. The borrower deposits cash in advance with the lender as security in the off chance that the borrower does not repay their debts.

These three types of cards will help you to establish a financial history. Provided that you have one or more of these cards, and always pay your bills on time, you will be well on your way to obtaining a Visa or Mastercard.

Click here to submit a Visa Card Application

Credit CARD Act: What You Should Know

The credit card reform bill, Credit CARD Act, gets under way February 22, 2010. This legislation is designed to help consumers but like any other bill there are loopholes big banks will jump through to make sure their pockets are nicely lined with your greenbacks.

Here we go loop de loo.

No cap on interest rates. NO…CAP. Credit card companies cannot hike the rates on existing balances unless you are 60 days late on your payment, but they can raise rates on future purchases whenever they feel like it- justified or not. No worries though, you are sure to be advised of such changes to your policy. Unfortunately the advisement will come in the mail smudged in between and looking like junk mail in hopes you toss it out like another useless offer. If you do happen to open it have a magnifying glass handy. Just because they have to put it in writing does not mean they have to make the writing at a readable font size.

This notice is required to be sent within 45 days of the change. Lenders can instill the new rate within 2 weeks after the notice has been sent. You have options sure. Pay the new finance charges, pay your account in full every billing cycle, or stop using the credit card all together. Choices, but choices few in this current economic state are really able to amend to.

The CARD Act has thankfully stepped in and helped Joe Public by placing limits on the severity of penalty fees you can be charged. New fees however, can be created at any time with whatever charges they choose to implement. So lenders can sit around the table and make up new rules and what they justify areâ€"applicable- fees to coincide.

How would you like a new annual fee for your account? How about being charged for the paper and ink to generate your statement that comes in the mail without the option of online billing? Have a card in the dresser for emergencies only? Inactivity fee, there ya go. A fee for not using your card.

Backing up the bus a bit, and right over the consumer mind you, card companies are allowed to raise existing fees. Balance transfers, purchases, cash advances, you name it. The only ones who are safe from this are those with fixed rates versus variable rates. This is a very small fraction of credit card holders and they are usually able to maintain a fixed rated because of a promotional plan or a consolidation plan with a third party non-profit. You MAY have HAD a fixed rate but recently many credit card issuers are switching that over to variable rates to do just this- raise fees on existing balances. You were probably mailed something about it, it just was presented as unimportant like junk mail and discarded.

Wait wait wait, it gets better. Some changes you do not have to be advised on. A creditor can lower your credit limit or close your account without warning. This silent killer can destroy your credit rating by increasing your outstanding debt amounts against your available credit limits. And then guess what? When your credit score goes down your next financial endeavor will be at a higher interest rate as you are now a liability in the lenders eye.

While the Credit CARD Act seems like a fine and dandy helping hand to consumers rest assured any Act that deals with big banks is not going to leave them in the cold so you can feel all warm and fuzzy. What options are there then? Stop using credit cards. A non-profit consolidation company will close your credit cards and reduce the interest rates and finance charges to lower, FIXED rates, rates that cannot be increased with this new Credit CARD Act. If you are ready and willing to close your accounts and not start this very viscous cycle coming consolidate and start improving your credit while paying your balances down faster at lower fixed rates.

Take Charge of Mobile Commerce

Justin Kitch: E-Commerce Solutions

When you can connect with customers wherever they are, you're ahead of the game.

By Justin Kitch | October 20, 2009

Cell phones are already the most ubiquitous electronic devices in the world. And with more than 40 million Americans who are now active monthly users of the mobile internet via smartphones and mobile browsers, the cell phone is quickly becoming the most popular device for browsing the web. Throw in the fact that people are often on the go when they're looking for information about a business, and you can see why it is fast becoming a requirement that businesses are "findable" via a mobile browser.
Following are a few tips to make sure your business is doing what it can to reach these mobile prospects, as well as serve your existing customers better by utilizing the mobile platform.

Mobilize Your Website

For starters, make sure your website is mobile-friendly. You should strongly consider having a separate site for mobile visitors that is separate from your full-featured website. Make sure to link to your mobile site from your main website so that your customers know they have this option. Also make sure to register your mobile site separately with Google, Yahoo! and Bing, and denote it as a mobile site, so that it shows up in their mobile search results.

Mobilize Your Existing Customers

Use mobile features to make your customers feel like part of the "in crowd." There are numerous ways to do this. One technique is to send text messages to your customer base, alerting them to special limited-time offers or discounts. For example, suppose you run a deli in an urban center or in an office park complex. Just before lunch time, you text your clients a description of the day's specials, which makes their stomachs growl and makes your cash register ring. Repeat the drill in the late afternoon to alert them to that evening's take-home meals.
Use your imagination. Mobile communications is a flexible and powerful medium. Unlike print or traditional broadcast advertising, it costs next to nothing. This means you can communicate frequently for little more than the cost of your time. It also means you can experiment with messages and initiatives to better serve your customers. Send them a text-message coupon good for 10 percent discount. Suggest that they forward it to their friends to help drive in new business.
Creativity is the key to exploiting this medium, but use discretion. Don't bother your customers with telemarketing calls. Instead, send short text messages, which are much less disruptive and off-putting than phone calls. Find the line between engaging your customers and pestering them. Most importantly, make sure your customers are "opting-in" to being contacted on their cell phones, and understand what the benefits are for letting you communicate with them this way.

Close the Deal

Your customer's cell phone is a two-way communications device. With the proper setup on your end, you can easily transact business by having the customer pay you via cell phone. Whether you are delivering pizzas to dorm rooms or repairing boat engines down at the local marina, you or your field rep can accept electronic payments right at the point of service via cell phone. Quick, safe and convenient for both you and your customers, mobile transactions can also be easier on the environment. Rather than a generate paper invoice, you can simply send an invoice in the form of an e-mail or text message. (Full disclosure: we've recently launched a product that does this at Intuit called GoPayment.)
Leveraging the capability of mobile devices can help create a community of customers who are more loyal and involved. By engaging with them when they're not at your storefront or at their computer, you'll stand out from the crowd, and be with them when they are most likely to need your services.
Justin Kitch is Intuit’s chief growth officer, responsible for leading the web and marketing efforts for the company’s Small Business Group. He founded and previously served as CEO of Homestead Technologies.

Growth Conference: You Only Need 3 Weeks

Launching a business in only three weeks may see a little crazy. If that's the case, Tim Berry is very, very crazy. At today's Growth 2.0 Conference in Miami Beach, Berry presented his case that budding entrepreneurs don't need years to start a business.

He carefully outlined each task that must be accomplished during the vital three-week period.

Week One:

-Create your main idea and define success.
-Talk to co-founders.
-Get it in writing.
-Name your business.
-Create an initial sales forecast.
-Create an initial expense budget.
-Estimate starting costs.
-Make the first sale.

Week Two:

-Define your marketing strategy.
-Create your look and feel.
-Get a presence on the web.
-Create a merchant account.
-Set up insurance.
-Create an initial expense budget.
-Recruit potential employees.

Week Three:

-Find a location.
-Set up bookkeeping.
-Make it legal.
-Initial hiring.
-Settle the financing.
-Make the sale. Beyond Three Weeks:
-Make the sale.
-Pay your taxes.
-Focus on customer service.
-Marketing.
-Create employer policies, systems.

Berry also presented his own list of the Top 10 Startup Mistakes:

-Unrealistic Forecasts
-Incomplete Teams
-Misunderstanding Equity
-Investment of Bust
-Ideas Do Not Equal Opportunities
-Trying to do Everything
-Pricing too Low
-Failing to Plan
-Not Enough Cash
-No Real Need in the Marketplace

Tim Berry, president of Palo Alto Software Inc., started creating his own software for business planning and forecasting to bridge what he calls "the know-how gap" that exists between what personal computers can potentially do for businesspeople and what they are actually doing.