Debt Management Plan Tips

It can be easy to set high goals. People usually have goals that aim to reduce the debt in an incredibly short time. These targets are simply too unrealistic to achieve. If you have a plan in place, set realistic goals. These realistic goals will help keep you on track. Goals that are unreachable will only make you disappointed and discouraged.

Check Your Progress Often

You need to check with your goals as often as possible. Upon checking in, you know, if you are on track to meet your goals for the specific period. You can, in good time, or far behind, for your goal. Checking in can help you adjust your plan as time goes on.

Talk to a financial adviser

If you put a plan in place, talk with a financial adviser if possible. The adviser will be able to assist you with your plan. They will give you tips on the best goals of the plan. The financial adviser should be able to take you to the appropriate path for managing your debt quickly and efficiently.

Use Your Support System

Friends and family can help you stay on your plan for management. Tell them about your financial plans. Ask them to help you stay on track. They can offer encouragement when you reach your goals. They can also provide warnings when they detect that your financial habits are not in accordance with your plan. A support system can help you stay focused and motivated as you reduce your debt.

Curb Your Spending

If you are working to comply with a plan for debt management, you must make a conscious effort to spend less. When you use less, you can put the money towards your debt. Expenditure simply too much will hinder your overall goal.

You want to make sure that you do what you can to see success with your debt. Your debt management plan is the tool to this success. By setting achievable goals and monitoring your progress, you are constantly analyzing the plan. This will make sure it is the right plan for your debt. This simple tips can help keep you on track. Follow these tips to ensure that the plan works for your debt situation.

“Consolidate, before it’s too late.” Credit Card Debt Consolidation

Credit cards have revolutionized the purchasing experience since Diners Club released the first credit card in 1950.

It gave consumers limited credit that, at times, even surpassed their own personal savings. It allowed them to buy items they cannot usually afford with a straight cash purchase. It also provided the convenience of not needing to carry wads of dollar bills.

Thus, on the average, American households possess 4 credit cards or a total of 13 payment cards including debt cards and store cards aside from credit cards. There are, actually, 1.3 billion payment cards in circulation in the United States.

But if you think that credit cards have made the lives of modern American consumers easier, think again.

Statistics show that the average credit card debt for each household per month is $4,800. This lead to 1.3 million credit card holders declaring bankruptcy in 2003.

And if you still consider yourself unaffected by this, then consider this one: upon retirement, most Americans can only expect to receive about 37% percent of their annual retirement income because of debt payment, leaving them to depend on the government, family and charity.

That’s scary. So before you find yourself in the same situation, it might be time to evaluate your credit card debt.

One way of resolving debt that you might consider is credit card consolidation.

So what is credit card debt consolidation?

In a nutshell, credit card consolidation is taking all your credit card debt dues and consolidating them into one monthly payment. This way, you don’t have to worry about managing the payments individually. Aside from that, it may also provide you the additional benefits:

? Reduce interest payments
? Waive late and overtime fees
? Low monthly payments
? Debt relief in a shorter time
? Credit improvement
? Save more money in the long run

You will also need to know that there are actually two major types of credit card consolidation.

First is through a Credit Card Counseling firm. They assist consumers by consolidating all their monthly payments into one single payment and then disperse this to the creditors in behalf of the consumers until they are debt-free.

The other type is through a home equity loan or other secured loan. This is done by exchanging an unsecured debt (such as credit card debt) for a secured debt (a debt backed by specific assets such as real estate).

Now, credit card debt consolidation isn’t a magic balm that will drive all your credit card debt malaise away. But it will make paying all your debt easier and might save you money in the long run.

How Do You Know If Your Credit Card Agent Is the Best?

Since you are the customer, there must be a glut of credit card agents constantly hounding you day-in, day-out. They may try to cram all their pitches in hour long phone call marathons or minute long infomercials and may run the gamut of personalities from friendly to annoying, smart to eccentric. But how do you choose the right credit agent?

Credit card agents are not just supposed to hawk credits cards. They are supposed to act as the middle persons between you and the bank. In effect, they should extend the services and care of the bank itself. You can tell if you credit card agent is good if he exhibits the following characteristics.

1. Agent Has Intimate Knowledge of the Card Company – Your credit card agent should know the ins and outs of the company he or she is promoting. Agents who are only looking for a quick commission won’t help you much when you have inquiries about their cards. If your agent has an intimate knowledge of the company, you can rest easier since he or she is in a good position to guide you in your decisions.

2. Honesty – After talking with your agent, investigate the veracity of his claims. There are some agents who will lie and fib just to get a sale. If you catch one of your agents giving you the glib tongue, drop communications with him or her immediately.

3. Has Much Experience – Established credit card agents have a better chance of helping you with your particular needs. They have had extensive experience in dealing with their clients and are in a better position to help you out. You should not dismiss agents who are new to the business, though. Just make sure they are sensitive to your needs.

4. Tells Pros and Cons- Find an agent who tells you like it is. They usually find a way to tell you the advantages and disadvantages of their product without diminishing your enthusiasm for their card. These people will give you more information on which to base your decisions. Thoughtful clients will want to stick to this kind of agent.

5. Does Not Force – Have you ever had a pushy agent hound you all day long. This is the mark of one whose only concern is his or her commission per card. If these individuals do not look after your interests, how can you trust them to help facilitate a good relationship with the company? If you are really interested in their company, you may want to have that company send a different agent.

10 Cons of an International Credit Card

Credit card fraud is a fast increasing crime in the world. International Credit Card holders are mostly the victims of this unauthorized access to their accounts. Let’s take a closer look of the problems faced by international credit cards.

1. Repetitive use of credit card numbers. After a credit card number has been used and disregarded, say cancelled, credit card companies would reissue the same number to other cardholders. The personal identification numbers (PIN) is changed as well as the credit cardholder’s personal information. But it still bears the same credit card number.

2. Low standards when it comes to the use of cards by the participating merchants. This is a common problem encountered by international credit cardholders. Employees of the participating merchants have the full access to the account number as well as the security number of the card.

3. Account Statements given out by credit card companies contains less information about the participating merchant. It does not include relevant information about the vendor that charged any transaction on the credit card.

4. Unreliable blocking functions. Once a card loss is reported, it will still take months for the credit card companies to block the transactions being made through the stolen or lost credit card.

5. Lack of validation software. Participating vendors should have better validation software installed on their computer system.

6. Consumer unfriendly policies on fraud management. The policies on the present fraud management take the blame on the cardholders though not directly stipulated. This means that the policies on the fraud management of international credit card companies protect not the consumers but the company.

7. Lax standards on investigation about fraudulent transactions. This is the sad part for the victims of fraud through their credit cards. Getting the suspects charged though proven guilty of fraud seems to take on slowly.

8. Credit card fraud is usually committed through online transactions. This means that credit cardholders are not protected with the authorized or unauthorized use of their cards on purchases or services paid online.

9. Most of the companies that typically appear on charges are those associated with pornography industry. These companies are the ones that accept transactions even without verifying the cardholder’s information.

10. Most of the banks’ system is not compatible with other international credit card companies for the e-commerce. This is a potential weakness that would mean loss of clients so they would prefer to keep quiet about it.


When people started using plastics as their primary source of financial disbursements when shopping, they did not yet realize its greatest potential until today.

It is only now that consumers learned how to treat credit cards with utmost care and concern as these could be one way to their success or failure.

Consequently, with the dawn of cashless shopping, many credit cards companies continue to proliferate in the market. What they are targeting right now is the world of information technology. With this, they continue to advocate the very concept of the word “convenience.” Thus, many credit card websites had incessantly created websites to cater to the growing virtual populace.

One good example is the site. It primarily provides all the credit card requirements of every consumer. What’s more they offer online services wherein their credit card holders can take advantage of digital services and wireless transactions through the site and through their chase credit cards.

The credit cards offer a variety of credit cards that will suit the customer’s specific credit needs. credit card comes in a wide array of general purpose cards, rebate cards, entertainment cards, travel cards, and auto & gas cards. credit cards also include retail cards, student cards, and college and university alumni cards, cards to support organizations, military cards, sports cards, and business cards.

With the wide array of credit cards provides, the consumer will have lots of choices that will certainly answer to their specific needs. There are credit cards that also cater to rewards, cash backs, points, and miles.

Moreover, choosing and applying for credit cards is relatively easy. The site offers four ways how to apply for credit cards. They can:

1. Choose by category

In this manner, customers may look through the categories of the cards that they think would serve them best. They can choose whether they want travel rewards, cash backs, auto and gas rebates and a whole lot more.

2. They can use the “help me choose” facility.

With this facility, consumers may ask the site for suggestions regarding credit cards that would provide them their needs.

3. Compare card features

Customers can select some cards and place them next to each other for comparison purposes.

4. Browse through the complete list.

This option is available for customers who really can’t decide which credit card to choose.
So, with the advent of credit card, there will surely be a better way to enjoy cashless shopping.

The Best Credit Card Reward For Those Who Have Been Naughty And Nice

Think about it. If people would normally pay all their credit card balances in time, then what is the purpose of interest rates?


And how will people get the benefits that their credit card company claims? It is through the credit card rewards.
These are freebies or prizes designed to make the “big boys and girls” happy because they had been naughty and yet nice enough to pay their dues.

Credit card rewards are also one way of enticing people to sign up to them. It tells them about countless benefits they could get just for signing up and getting a credit card.

There are actually a variety of credit card rewards available today. Most of them are being offered by credit card companies all the same. But what the people mostly wanted is the “cold cash.”

According to some reports, most people, who are entitled for some credit card rewards, would rather have cash for reward than with any other freebies available. They claim that they just want to be feasible. Hence, cash backs were deemed as the best credit card reward

In reality, financial experts claim that the arrangements of cash-back programs are actually the most straightforward credit card rewards than the other types. Plus, consumers can even track it, get hold of it, and see if it really is true.

Moreover, cash-back programs have a wide variety of classifications. It all depends on the type of credit card consumers have. For example, there are credit card rewards intended for college students such as college savings. For retirees, they also have retirement investing rewards.

But for those who do not want cash backs, there are still other credit card rewards that work best for the consumers. There are those rewards about frequent flyer plans and freebie-giveaways.

Indeed, credit card rewards keep on flowing. The reason behind that is to entice people not to delay their payment so as to avoid adding to the pile of credit card debts and numerous bankruptcy cases.

There are still many credit card rewards that would be initiated upon the people especially for those who spend a lot. In fact, some reports say that there is a credit card reward these days that entails the consumer to not pay the annual fee for as long as they get to pay the balance on time. That would be a heaping $3,000 off in the event that the consumer’s standing balance is $30, 000.

That, indeed, is a lot of money.

Know How to Get the Best Credit Card Deal

Getting your own credit card is not as easy as you may think. Applying for a credit card account needs a lot of thinking.

Before marching down to your credit card agent, ask yourself some questions like do you want to pay for the credit every month or carry a balance instead? The type of credit line limit is also to be taken into consideration. Credit cards offer a lot of benefit packages, think of the package that would suit your needs.

If you want to carry on a balance, look for the credit card that offers the best interest rate or the annual fee offer. However, if you intend to pay for the credit every month, then look on the one that offers the lowest interest rate.

Credit limit determines how far you can go with your card. Think of the lowest limit that would fit your needs, not your lifestyle. Remember it’s supposed to be for necessity and not for luxury. Adding 30% to the limit you agreed on. This will maximize the value of the card. Meaning, you can use the card on a normal basis and still have enough value if an emergency arises.

Credit card companies offer tremendous bonuses on their cards. If you wanted to sign up for these packages, think, think, and think! Will they really be of help to you or are they just there to make your credit life miserable?

Of course the table is laden with different courses. You are only to get one so don’t rush into one that looks good. You always have the liberty of comparing one credit card to another.

Always choose the credit card that offers the lowest annual percentage rate (APR). APR’s could either be a “fixed” or a “variable” rate. Fixed rates do not change as the name implies but is higher. Variable rates changes depending on the economic trends. This is to be taken into consideration if you’re deciding on carrying a balance.

Some credit cards offer a grace period of 25 days before they charge the interest on the purchase. But some may not have. Look for those that have one and the longer the grace period, the better the deal.

You also have to check on other fees attached to the credit card. These are the penalty rates as well as other charges like over the limit charges and late payment charges.

When choosing a card, always remember to get the one that would best fit your needs and at the same time the best deal you could get out of it.