Over 14 million Britons use their credit cards for day-to-day living costs, according to new research from Moneysupermarket, highlighting a reliance on debt amongst many people.
The price comparison website also found that one in five people have more than three credit cards, and that 17% of credit card holders use their card at least once a day. A further 28% said they use their card at least once a week.
However, many credit card holders use their credit cards for their own gain: 25% said they use their cards to gain reward points, while 11% use their cards for cashback and 0% interest purchases.
A Think Money debt expert commented: “Using credit cards for general day-to-day spending is potentially risky. If any unexpected costs prevent the borrower from repaying their debt on time, then that debt could grow more quickly than they expect.
“Using debit cards or cash for day-to-day spending can reduce the chance of getting into trouble with debt.”
Check your credit score, then take steps to improve it.
Credits scores play a very important factor in determining where you’ll end up living and working, as well as how much interest you are charged on mortgages and other loans. The truth is, credit scores can have a major impact on your life and wallet! That’s why Fair Isaac, the creators of the FICO scoring system, include so many aspects of your credit when creating a score for your credit profile. The FICO scoring system is broken down into the following percentages and categories:
- 10% Unused Credit
- 10% New Credit
- 15% Length of History
- 30% Amounts Owed
- 35% Payment History
Your FICO credit score is created and derived from these five categories and can range from a low 350 up to the highest score possible of 850. Most of us, however, do not make it to 850. Given that, what makes an acceptable credit score? You want your score to be above 700 in order not to be considered a credit risk. So are you there yet?
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Mortgages for those with adverse credit have advantages that conventional mortgages don’t. The prime advantage is that they are easier to qualify for, even with a bad credit history. Sub-prime mortgages also allow you to build wealth with your home purchase. And they have fewer hurdles, such as not requiring PMI.
Start Building Wealth
Bad credit mortgages allow you to start building equity wealth even if you have a bankruptcy or foreclosure in your past. With rates only…
sub-prime mortgage, mortgage loan, bad credit
Mortgages for those with adverse credit have advantages that conventional mortgages don’t. The prime advantage is that they are easier to qualify for, even with a bad credit history. Sub-prime mortgages also allow you to build wealth with your home purchase. And they have fewer hurdles, such as not requiring PMI.
Start Building Wealth
Bad credit mortgages allow you to start building equity wealth even if you have a bankruptcy or foreclosure in your past. With rates only a couple of points above conventional rates, you can get into a home with no or little down. For about the cost of a rent payment, you can enjoy tax deductions and home ownership.
Without waiting for your credit score to improve, you can buy a home at today’s prices. Even th
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Franchising your business is a proven route to rapid growth. But becoming a franchisor is not an automatic ticket to success, especially in this challenging economy. In January, for instance, three established franchisors filed for bankruptcy protection: Taco Del Mar Franchising Corp., Uno Restaurant Holdings Corp., and Daphne’s Greek Café.
Still, many business owners dream of seeing their brand become a household name, with a network of franchisees from coast to coast or around the globe. When the right concept is franchised effectively, it can be a great expansion strategy that doesn’t require as much up-front capital as growing through company-owned units.
If you’re considering franchising your business, know that the process of becoming a franchisor is usually long and involves considerable cost. Just because you qualify to sell franchises doesn’t mean you will find buyers. Data from the International Franchise Association shows that of the 105 companies that started selling franchises in 2008, more than 40 had not reported the sale of their first unit by the end of 2009.
Becoming a successful new franchisor entails making many thoughtful decisions early on that will affect your business for years to come. Th
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Avoiding vaccinations before travel could potentially invalidate travel insurance cover
London, UK (PRWeb UK) 12 February 2010 — Post Office Travel Insurance is advising travellers to ensure they have researched the necessary immunisations they may need before they travel to ensure they don’t invalidate their travel insurance cover.
ABTA has predicted destinations such as Morocco and Turkey are set to be hotspots in 2010. However, recent research by Post Office Travel Insurance identified that a significant proportion of holidaymakers were unaware that vaccinations are required before visiting these countries. For example, some 53 per cent of UK holidaymakers did not know that vaccinations are needed to travel to Morocco, while a staggering 83 per cent didn’t know about the immunisation requirement for travel to Turkey, Post Office Travel Insurance revealed. It is recommended that travellers to both these destinations are immunised against Hepatitis A and Tetanus, while a visit to Turkey also requires vaccinations against Typhoid and Diptheria.
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