compare-lenders-what-do-you-have-to-gain

Compare Lenders - What Do You Have To Gain

Writen by Ben Ehinger

Comparing lenders can be one of the most important parts of getting a mortgage or any loan. When you compare lenders you are able to find the best deal, play lenders against each other, and get to know the loan officers you are working with. What do you have to gain by comparing lenders? Here are the top 4 benefits of comparing lenders.

Benefit #1 - You will end up with the best possible loan out there for you

When you compare 3-7 lenders at a time you will be able to play each against the other. If one of them offers you a better rate than the other, use it to get the other rate lowered. If one of them is trying to charge you a fee that one of the others isn’t charging, use that to get the fee lowered or waived. It is amazing what lenders will do for your business.

Benefit #2 - You will learn more about your mortgage or loan than you would ever imagine

By comparing lenders you are actually educating yourself on many companies, programs, and parts of the lending business at one time. This is a great thing because as you gain knowledge you will be able to figure out who is trying to help you and who is trying to sell you.

Benefit #3 - You will get great customer service

When you compare lenders and you let them know that they have competition, the good ones will compete. They will find you the deal you want and they will find you the deal that does the most for you. This is a trick that I used to actually recommend to customers of mine when I knew they could not find a better deal. I wanted them to have confidence in the deal I was giving them and know it was the best out there.

Benefit #4 - You will save more money than the lady or guy that just picks a company and goes with the deal the give you

The person that just calls one company and goes with what is offered ends up spending more money than the person that compares lenders. This can make a huge difference in the long run. It can mean thousands of dollars in savings from getting a lower rate and lower fees.

Now you have four benefits to comparing lenders. This should be enough for you to understand why it is so important to shop around. You wouldn’t buy the first car you see so why should you take the first loan that is offered to you? Go ahead and start you comparison by getting an online comparison quote.

is-the-new-millennium-method-really-1204000-better-then-a-biweekly-mortgage

Is the New Millennium Method Really $1.204,000 Better then a Bi-Weekly Mortgage

Writen by Mike Makler

This Article will compare and Contrast the Old-School Bi-Weekly Mortgage Method with the New Millennium Invest the Difference Method. Can The New Millennium Method really result in over $1,200,000 more money in your Retirement Account.

A Bi-Weekly Mortgage is a Craze that has been Sweeping the Mortgage Trade since those 18% and Higher Mortgage Rates of the late 70’s and early 80’s. The basic premise behind a Bi-Weekly Mortgage is that instead of making 12 Monthly Payments a year you make 26 Bi-Weekly Payments a year. Each Bi_Weekly Payment is 1/2 of the Monthly Payment. You pay off your Mortgage Faster and Save Lot’s and Lot’s of money because you are making 13 Payments a Year instead of 12. That Extra Monthly payment has the effect of Dramatically reducing your Payoff schedule.

Here are the results of a calculation done recently using an Online Calculator from a Popular Bi-Weekly Mortgage Program. The Example used a 30 year Fixed rate loan with a 5.5% Interest rate and an $$1,135.58 Monthly payment or a 567.79 Bi-Weekly Payment.

• Current Balance: $200,000.00

• Interest Remaining (Current): $208,806.90

• Interest Remaining on Bi-Weekly: $168,980.52

• Estimated Interest Savings on Bi-Weekly:39,826.38

• Term Remaining (Current): 360 Months

• Term Remaining on Bi-Weekly: 301 Months

• Estimated Term Saved if on Bi-Weekly:59 Months

Looking over the above numbers A Bi-Weekly Mortgage seems very Promising and it is. You Save almost $40,000 in Payments and Reduce your Loan Term by 4 Years and 11 Months. So By Making 25 Extra Payments of 1,135.58 you pay $39,826 less interest over the life of the loan.

With the New millennium comes a new and better almost $600,000 More Money in your pocket over the initial 30 Year Loan Schedule. (Over $1,200,000 if the $600,000 is allowed to grow for your retirement nest egg.) Here is the plan in a Nutshell. You get a 30 Year loan with a Payments for the first 5 Years Fixed at an Interest rate of 1.95%. You then take the Money you save and Invest it in an Annuity with an Assumed 8% return.

Your Payments on a 30 Year Mortgage at 1.95% = 734.25 You Invest $495.96 a Month for 30 Years at an 8% Return

• At the end of 5 Years you have Over $34,900
• At the end of 15 Years you have over $161,500
• At the end of 25 Years you have Over $435,000
• At the end of 30 Years you have Over $674,000

With The Above Bi_weekly Mortgage all your money $1230 on average monthly is going to pay your mortgage so

• At the end of 5 Years you have $0
• At the end of 15 Years you have over $0
• At the end of 25 Years you have Over $0
• At the end of 30 Years you have Over $86,500 (Since your Mortgae is Payed off 5 Years Early you now save 1230 a Month invested at a Return of 8% for 5 Years)

With the Old Bi-Weekly Method you have $86,500 in your Investment account. With the New Millennium Method you have over $674,000 in your Investment account. Almost $600,000 more.

Going one Step Further, Let’s assume each home-Owner is 25 when they get the initial Loan and they let the Money sit in the Investment Account for 10 More Years (until they are 65) at an 8% return.

• 674,000 at 8% will grow to $1,400,000 in 10 Years
• 86,500 at 8% will grow to $ 186,900 in 10 Years

This Equals a 1.2 Million Dollar Difference in your Investment (Retirement) Account at age 65.

the-rich-look-like-beggars-and-the-beggars-look-like-kings

The Rich Look like Beggars, and the Beggars Look like Kings

Writen by Jon Morrow

If you saw my father on a normal day, you’d feel sorry for him. His clothes are worn and coated with a mosaic of dirt, paint, and other unidentifiables. His boots are solid blocks of mud. His head is covered with a worn-out baseball cap, usually soaked in sweat.

You’d think he was a beggar. But he’s not. He’s one of the wealthiest and fastest growing landowners in northern Mississippi.

Movies and television have created a stereotype of the millionaire, and like most stereotypes, it’s completely false. Rich people don’t drive fancy cars, live in mansions, or cart around entourages of sexy playthings.

They know better. As one of my most successful mentors told me, “Getting rich is not about how much money spend, but about how much money you keep.”

To illustrate, here are some comments from my investors:

A car payment? Why, I can’t remember the last time I made one.

About a year ago, my father invited all of our investors to a private conference in his home near Memphis, TN. You’ve never seen so many rich people. If you tallied up the net worth of everyone in the room, I’m sure you’d go well over $100 million.

When I drove up to the house though, all I could do was laugh. Looking at all of the cars in the driveway, you’d think you were at a retirement home. The newest car in the driveway was from 1998. The majority of them were models from the 80s… and older. None of them were freshly detailed or flashy. You would have never guessed that all of them were owned by millionaires.

Talking to the investors about them was also interesting. I didn’t ask everyone about their car, but the few I talked with told me they’d paid for the car in full a long time ago. They were also focused on regularly maintaining the car. Performance was just as important as price.

Buy a mansion? God no. Who needs all that space?

Knowing how to leverage their money and tax benefits, you’d think millionaire real estate investors would live in huge houses. But you’d be fooled, once again. Most of the millionaires I know live in modest houses in good neighborhoods. The average value is probably around $300,000.

They also own the houses debt free. Usually, they bought their house years ago for a steal in a good area, and then they lived there while it appreciated. To properly leverage their equity, they keep credit lines open, so they can take advantage of short-term opportunities.

Wear a suit? No, I prefer to work in my underwear

Through a series of coincidences over the years, I’ve learned that nearly all of my investors work in their underwear or pajamas. When they’re forced to leave the house, they usually wear sweats or khakis. During the past five years, I’ve never seen one of them wearing a suit.

They have three reasons:

* Cost. Dry cleaning is expensive. You save money by dressing down.
* Practicality. Investors deal with a wide range of less fortunate people that distrust people in suits.
* Comfort. Suits are uncomfortable, so unless you have to impress your banker, stay comfortable.

The Moral of the Story: Live like a Millionaire and You’ll Become One

Not surprisingly, the most successful real estate investors I know are the most frugal people I know. I’m not talking about being miserly either. They live exceptionally well, but they do it with less money and more attention to practicality than pizzazz. If you want to get rich, act like them. Start living below your means and you’ll see your wealth grow much faster.

Also, I’ve learned to be suspicious of people driving fancy cars and living in huge houses. While some are genuinely wealthy, most are in debt up to their eyeballs. They’re usually insecure people, trying desperately to convince everyone they’re rich. To use a metaphor:

You can judge a book by it’s cover, but remember, the classics are rarely new and shiny. Their faded covers are evidence of their survival and their tattered pages were created by the hands of countless loving fans.

speculators-could-drive-uranium-to-55pound-or-higher

Speculators Could Drive Uranium to $55/Pound - or Higher

Writen by James Finch

SUMMARY: TradeTech LLC Chief Executive Gene Clark talked with StockInterview about the uranium bull market, where his price models show uranium prices heading and when to expect the peak of the current upward cycle of the bull market. When will “hard” times again hit the uranium market, and how long will the trough last? And what does the future hold for the uranium price? An industry insider gives us his insights.

StockInterview: When the uranium bull market began, did you foresee $40/pound uranium, now that the spot price has risen above this level?

Gene Clark: I don’t think any of us saw $40 per pound coming. We had price projections at the time that indicated probably $25 per pound, which would be a long term equilibrium price in constant dollar terms. But, I think it was a surprise the price went up so high. I think what’s going, the biggest factor right now, is the advent of the so called hedge funds or speculator funds and other such groups. The price started to go up, and they came into the market with the express purpose of buying for holding and then selling into the market later to realize the trading profit. In 2005, the hedge funds were responsible for purchasing about 10 million pounds of the 29 million pounds purchased. I think the market is now finally adjusting to the realities of primary supply and demand. It’s been a depressed market for 20 or 30 years, primarily from the draw down of excess inventories, and what we call secondary supply.

StockInterview: Will the speculators remain active in driving the spot uranium price higher?

Gene Clark: I think there is still some room for further speculation activity. Uranium Participation Corporation, for example, is rumored to be about to come to the equities market again to raise funds for another purchase. They’re asking for authority to buy UF6, as well as U308, and different forms of uranium than they were locked into before. Whether it be at the 10 million pound level (size of purchase), I think it kind of depends on where the market goes. If it tends to flatten out, then I think there’s going to be obviously less interest on their part. When they were active in the market, they, of course, wanted the price to go up. Therefore, they weren’t too careful about what they paid for uranium. I think that’s a part of it. In the long run, it was due for a readjustment to reflect prices of the cost of new production facilities. But, the hedge funds came in and overdrove the market. Eventually, what it’s going to wind up doing is, if they sell off, it could have the impact of driving prices back down below where they would otherwise have gone.

StockInterview: Did the speculators interfere with the trading efficiency of the uranium market?

Gene Clark: In theory, speculators come in, tend to take the risk and smooth out market prices. But, it never really works out that way. They always come in and only take the risk, if there’s an opportunity to make money. So some people make a lot of money. It does tend to upset the market. If you get away from the primary users of uranium and primary producers of uranium as your market participants, then you tend to introduce more noise than you would like.

StockInterview: With that in mind, in which direction are your price projections going?

Gene Clark: We’re actually updating our uranium price forecast right now. We haven’t decided on a reference case yet. The reference cases we’re looking at will peak at about $50 to $55 per pound in about three years, and will then drop off pretty drastically. It has to do with a selling of the speculator reserves, the uranium that’s being held (for speculative purposes). I can see it coming back down to $30, maybe below $30 per pound. Then, in the long run - out through 2020 - getting easily back up over $40 per pound.

StockInterview: Are you predicting a down cycle during the course of the uranium bull market?

Gene Clark: Yes. It’s pretty consistent with everything we’re doing with the changes in requirements, in different cases of high, low, and medium demand. Our modeling system is projecting this. It has to do with the supply and demand balance and the cost on the margin. The way to describe it is that prices have come to a point now of higher than we would have projected them to be, such that over-supply is going to evolve. The large low cost projects will reach a point where supply then overshoots demand for a few years, which causes the price to come back down. Then demand growth, in the long run, picks up and puts a lot of pressure on the supply market to be able to meet the demand. So you wind up with pressure toward the end of the period.

StockInterview: But the markets are finicky, filled with variables, and can frequently trick price models.

Gene Clark: Here’s what it would take to shoot that down: We have a problem with small numbers, and there are some very large projects - Cigar Lake, for example. The expansion of Olympic Dam in Australia would be going from about 12 million pounds of production to over 30 million pounds, if they finish. If you shift that out by four or five years, or if the owner decides, “No, we’re not going to expand at all,” you have a drastic effect. Then you would wind up with $100 per pound uranium, I think.

StockInterview: What are your estimates on the peak price years and the bottom years?

Gene Clark: A lot of things could change, but here is what we’re looking at. In one case scenario, the speculators are really going to stay out of the market and holding onto their stuff for a long time. If so, then we’re going to be at the peak by the end of this year. If they stay active in the market and buying, then that stretches it out further. Depending on the scenario, we see the peak possibly at 2008 or so. I would say we’re looking at a trough around the timeframe of 2011 to 2013. Then back up after that.

StockInterview: How do you arrive at your weekly numbers for the spot uranium price?

Gene Clark: We get our data from all of the key sources: the utility fuel managers, sales staff and management of uranium producers and processors, and uranium traders, brokers and asset managers. Some are, of course, more cooperative than others, and whom we call depends on the type of information we are seeking. Since our price indicators are a judgment call, we often focus on the losers in particular recent transactions, as those will be the next to make offers in the market.

StockInterview: Let’s back up a bit. Why has uranium gone up past the levels of the “cost of production,” which would place the spot price between $25 and $35/pound?

Gene Clark: The biggest factor, in signaling the market, was when utilities went out for long term bid requests. They found they reached a period in which producers would have to build new facilities. Producers building those facilities felt, “I have to make at least enough profit to cover a return on the construction costs for these facilities.” That was much higher than the market at the time. Basically, you reached a point where the cheap stuff has been sold. Now, we have to actually spend some money, some capital, to build new facilities, new mines and new mills. That was, I think, the earliest signal of the price needing to adjust.

StockInterview: Isn’t there a ton of hype across all media channels about the “nuclear renaissance” and the demand for more nuclear energy?

Gene Clark: First of all, all the hype about nuclear renaissance is really in the United States. The Chinese have had plans to expand for a long time. The Japanese have been steadily adding new capacity. Koreans have been adding new capacity. Indians have been adding new capacity all along, all the way through this, even before we started this discussion on nuclear renaissance. I think that phrase is really focused more in the United States, which really hasn’t ordered a plant since 1976 or something like that. There is a boom. Maybe it’s the uranium renaissance.

StockInterview: Is all of what we’ve been reading just plain hype?

Gene Clark: There is some hype, but there is also some substance. A part of it is certainly a change in public attitude about nuclear power. If I was riding on an airplane, ten years ago, and someone asked me what I did for a living, I was guaranteed to have a lousy trip, arguing about nuclear power. When I mention it now, I get a positive response. There’s been a marked shift in public attitude about nuclear power. From the standpoint of the utilities that would be ordering nuclear plants. To the extent that they need new capacity, looking at nuclear now is not off the drawing boards, partly because of public attitude. The industry has been moving through this trough period, preparing itself for a new era. It remains to be seen when the first order comes. But when the first actual order of a nuclear power plant, along with the license application does come, I think you’ll see several U.S. utilities following, probably five utilities very actively involved.

StockInterview: When will that actually happen?

Gene Clark: I think it will come within the next five years, the ordering process. Of course it will be probably another eight years before we actually see the first power plant from that process. We’re talking probably about 13 years. That’s how long it takes. You can actually construct one in 48 months, but you have to have been through the licensing. If you don’t believe the anti-nuclear people are going to be psyched up to fight the first plant coming through, then you’d be very na

freddie-mac-to-provide-monthly-disclosures

Freddie Mac to Provide Monthly Disclosures

Writen by Martin Lukac

Freddie Mac will begin providing monthly updates on loans used as collateral. The GSE is looking to attract investors for its mortgage backed securities.

Beginning in August, Freddie Mac will provide monthly disclosures on loan-levels for single-family, fixed-rate and adjustable-rate mortgage PC securities issued after December 1, 2005.

The company believes the increased reports will help investors determine how quickly bonds will be repaid. By increasing the level of information, Freddie is hoping to draw in investors.

“Today’s announcement illustrates our continued commitment to providing the market transparent disclosures on our mortgage-backed securities,” said Phil Guth, Freddie Mac vice president of mortgage securitization.

“We believe that providing investors timely, transparent mortgage securities disclosure promotes our mission to provide liquidity, stability and affordability to America’s home financing system.”

Freddie Mac currently has $1.4 trillion in mortgage bonds outstanding. The company is the second largest buyer of home loans in the nation. It has been struggling with a fairly recent accounting scandal, as it’s twin — Fannie Mae — has.

Mortgage bonds are susceptible to rising interest rates. When homeowners remain in their homes longer than expected, the speed of return on the principal to the investor slows.

Bonds are also known to suffer when rates fall, due to the loans being repaid more quickly. Investors like to look for younger loans, as they are less likely to be refinanced.

the-clock-is-ticking-retirement-planning-later-in-your-career

The Clock is Ticking: Retirement Planning Later in Your Career

Writen by Joseph Kenny

Are you ready for retirement? Sure, you’re mentally prepared to leave the everyday rat race, to throw your alarm clock in the garbage, and to spend your days doing whatever you so please. The question is: are you ready financially? If you’re like most Baby Boomers, the answer is probably “no”.

A recent study by the Employee Benefits Research Institute showed that over 50 percent of workers ages 45 to 54 have less than $50,000 saved for retirement. The Center for Retirement Research (CRR) at Boston College completed a study that showed nearly 54 percent of low-income Baby Boomers born between 1955 and 1964 are at risk for missing their retirement savings goal. Research by Fidelity Investments shows that most Baby Boomers have enough saved for retirement to replace just 59 percent of their full-time working income. The numbers don’t lie: most Boomers are not ready to retire, regardless of what they think.

But all is not lost. It’s never too late to start planning your retirement. However, the closer you get to retirement age, the more aggressively you need to save. It’s also possible that you might have to work a few years longer than you thought you would, or pursue money making ventures outside of your life-long career.

Okay, say you’ve hit the big 5-0. Retirement is suddenly not such a far off proposition, but a short-term reality. In no way are you ready financially, so it’s time to buckle down. The first thing you need to do is take a good, long look at that 401(k) of yours. Max it out. That’s right, make yourself a budget and sacrifice if you must, but find every last available dime and pump it into that fund. It deserves your attention. Thankfully, there’s something called a “catch-up provision” that was created for people just like you. It allows people 50 and over to add an additional $5,000 to their 401(k) over the maximum allowed by law in 2006. Not bad. For IRAs, you can contribute up to $1,000 per year as a catch-up in 2006. Do it. It’ll be well worth it.

Once you’ve maxed out your retirement funds, take a look at your personal budget. Sit down and find out where all your money is going, and where you can save. Pay off high-interest credit card debt as fast as you can, refinance car or home loans, phase out your more expensive habits or hobbies; do whatever it takes to save a few extra dollars per month towards your nest egg.

Also, don’t rule out working a few more years. Many people love their jobs, have friends at work, or enjoy being part of the everyday work force. If you don’t have grand plans of jet-setting around the world during your golden years, then there’s nothing wrong with punching the clock for a little while longer. It’ll give you something to do while definitely sweetening the pot when you do decide to retire. Done with working for the man? Then consider taking something part-time or even launching your own start-up. It could be something you’ve always been interested in, but never had the time or drive to actually do. Who knows, it could be something you make money on and will enjoy well into retirement. Nothing wrong with that.

However you choose to build your long-forsaken nest egg, don’t wait a minute longer. When it comes to saving for retirement, time is money.

how-to-pawn-for-cash-what-to-expect

How to Pawn for Cash - What to Expect

Writen by Linda Purdy

When you are in need of CASH you can pawn your personal items for a quick cash loan.
Getting cash on the valuables you already own is easy.
Knowing what to say and how much to ask for will get you more money.

Please bring items in good working order, complete with all cords, remotes, manuals, and/or chargers.
You will need to show that your item is in working order.
Be prepared to tell the pawnbroker how much you would like for your item, because they are a service oriented business, they usually do not make offers.
Don’t expect to receive fully value for your item, pawnbrokers lend only a percentage of what your item is worth because they may have to resell it later. Pawnshops try to sell for about half of retail.
Asking a resonable amount up front will more likely get you the most money for your item.
Not knowing how much you need prohibits them from helping you get the right loan.
Be sure you bring proper identification. Two proper forms of ID’s are required for all pawns.
Your pawned item will be tagged and stored in a secure location.
You will receive CASH for your pawned item.
Be sure and retain your pawn ticket, you need the ticket to claim your item.
The balance on your pawn will be due in 60 days from the pawn date.
You can extend your loan as long as you need, you must make a payment at least every 60 days.
We recommend you make a payment once a month, but it is not required.

personal-accounts-clever-ways-to-manage-your-account

Personal Accounts - Clever Ways To Manage Your Account

Writen by Joseph Kenny

Once you’ve found the right bank and the right account, you may be tempted to rest on your laurels. However, if you want to make the most of your money, you need to give it regular attention. The world of finance is changing continually, with new offers and opportunities cropping up every season. To take advantage of them, you need to keep your finger on the pulse.

Not only should you keep a flexible approach, but be prepared to do a bit of research to keep abreast of the latest financial news. You don’t need to be a stockbroker to read the money pages - most of the Sunday papers carry a finance section aimed at the average person. The internet can also be a good source of up-to-the-minute articles - check Yahoo or the BBC in their ‘personal finance’ sections.

As well as keeping an eye on the money market, you should have a clear idea of how your accounts work. Stay abreast of any direct debits and standing orders - paying bills by monthly instalments can save the hassle of posting cheques, spread the cost of services, and you will often gain from special discounts if you pay this way. However, monthly payments can cause problems if you don’t have enough cash in your account - charges for going over your agreed overdraft can be nasty and are money down the drain. Try to arrange for direct debits to come off around the same time - a few days after pay day is usually a good time, and you’ll often be able to choose which date. When budgeting, aim to plan for the whole year rather than just from month-to-month.

Credit card companies will offer introductory rates to new customers - if you don’t mind changing cards every six months or so you can avoid paying high rates of interest. Look for 0% APR offers on balance transfers and especially those that do not charge a balance transfer fee.

If you have debts, (and these days almost everybody does to some degree) make sure that you are on top of them. The worst thing you can do is ignore them - make sure you know what you owe, and how much interest you are paying. It might be a good idea to consolidate debts - for example converting credit card balances into a low-interest loan or second mortgage. Allocate as much as you can comfortably afford to pay each month, and stick to it. If you are struggling with debt, contact your debtors. They will often be able to help you plan your repayments, and will certainly be more understanding if you keep in touch.

Citizen’s Advice Bureau (http://www.citizensadvice.org.uk/macnn/) can offer support and advice, as can National Debtline (http://www.nationaldebtline.co.uk/): Freephone 0808 808 4000.

pros-and-cons-of-instant-approval-credit-cards

Pros and Cons of Instant Approval Credit Cards

Writen by Robert Willard

Instant approval credit cards have become increasingly popular. With the rushed lifestyle many are living and the need to get things done quickly, it is little wonder more and more people are turning to instant approval credit cards. But, are instant approval credit cards really so great? Furthermore, are there any drawbacks or things you need to be aware of before applying for an instant approval credit card online? The answer to both of these questions is yes, so let’s weigh the pros and cons of these types of cards.

Pro: Instant approval credit card online applications can get a card in your hand quickly.

For those needing the flexibility and freedom of a credit card right away, the fact that an instant approval credit card can take as little as one to two weeks to arrive in your mailbox is a definite plus. Regular credit cards can take up to eight weeks to be processed and sent to you. If you have a project you want to get started on right away, a vacation you want to take soon, or bill that need to be paid quickly, you simply don’t have eight weeks to wait.

Con: Not everyone gets their instant approval credit card right away.

Although instant approval credit cards are billed as “instant approval,” not everyone qualifies quite so quickly. In fact, if you have poor to mediocre credit, your instant approval credit card online application may be put on hold for a few days while the lending company looks into your credit history a little more thoroughly. In addition, instant approval is not the same as guaranteed approval. Therefore, usually only those with an above average credit history will be instantly approved. Of course, an instant approval credit card will still most likely arrive to you much quicker than a traditional credit card, but you might be disappointed to learn you have to wait a bit longer than you originally thought.

Con: Instant approval credit cards often have a higher interest rate than regular credit cards.

While not always true, instant approval credit cards usually have a higher interest rate than regular credit cards. This is how the lending company compensates for expediting the application process. It is also the price you pay for the convenience of instant approval. When looking for an instant approval credit card, be sure to explore all of your options to find one that does not have a terribly high interest rate.

Pro: Instant approval credit cards often have a special introductory rate.

While many instant approval credit cards have a higher interest rate than standard credit cards, they often have a special introductory low APR. This special rate can be as low as 0.00%. Financially, the best move you can make is to receive one of these cards, take advantage of the introductory rate, and pay off the balance in full before the interest rate kicks in. If you want to still use the card for purchases beyond the introductory period, be sure to pay the balance at the end of each billing cycle.

Con: Some instant approval credit cards need to be secured.

A secured instant approval credit card is one that you send money to ahead of time. Therefore, you are never actually borrowing money from a line of credit. Instead, you are using your own money. This type of credit card is really more of a debit card that allows you to spend from your own account. For those with poor credit, however, a secured instant approval credit card can be a great way to rebuild credit or to establish a credit history.

Pro: Instant approval credit cards look just like other credit cards, even if they are secured.

No matter what type of instant approval credit card you obtain - whether secured or unsecured - it looks the same as a regular credit card. Therefore, no one will know that your card was instantly approved or secured, which could potentially leave you feeling embarrassed.

never-send-money-to-a-voice-on-the-phone

Never Send Money To A Voice On The Phone

Writen by Al Thomas

It’s been a lot better since they put that new regulation that telemarketers could not call you when you enter your phone number with a “Do NOT Disturb” sign on it, but a few calls still come through.

Dinner time is still dinner time and I don’t care to be called out of the blue by some no-name broker who wants to make me rich provided I buy shares in this great new issue or some stock that is just about to “take off”.

Usually they start off with do I remember he called me 6 months ago and recommended so-and-so issue that is currently in the news because it has gone up 100 or 200%. Google has been a favorite, but he has a better one. He did not make that call and if he had I am sure I would not remember it. Also the name of his firm is one I never heard of, but it sounds very legitimate and he might even say they are affiliated with Wells Fargo Bank or some other big bank. They might have their checking account with that institution, but otherwise they have no connection. Now he has another recommendation that is going to do even better than that one. Yes, and pigs can fly!

If you haven’t done so yet don’t let him go any further. Hang up. Oh, I know you can’t because your mother taught you it is rude to hang up on people. Please, this time DON’T listen to your mother. He will try to get you into a conversation by asking simple questions that must be answered with a “Yes”. Stop listening. If you can’t bring yourself to hang up then put the phone down and walk away. In 10 minutes he will be gone to call another sucker.

There really are boiler rooms out there selling worthless securities and everything they do is 100% within the law and 100% immoral. How do I know this? I used to own a brokerage firm and I received monthly reports from the regulatory agencies outlining charges against these shady dealers. Fortunately, I did not have those problems as I would not allow hype to open accounts.

Before opening an account with any type of company it is necessary to do due diligence. Check them out completely. Get references from current customers. Call their regulatory agency (SEC or NASD) to see if there are complaints against the company or the salesman to whom you are speaking. Make the salesman prove in writing his story of where and when he bought.

The things being told on the phone are usually too good to be true and that is a fact. Not all brokerage firms are like this, but remember the basic rule.

NEVER SEND MONEY TO A VOICE ON THE PHONE!

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