Credit Card Counseling And Debt Consolidation

Have you ever had one of those days where bill collectors were getting on your nerves and you didn't know what to do? You though, "if I had a credit card on hand, it would take care of my debt problems!" And then you probably thought "...if only I applied for a credit card."

I am going to provide you with a small list of the cheapest credit cards available (in terms of annual fees and interest rates), as well as some credit debt consolidation counseling.

The rate of interest on a credit card is one of the chief factors you should focus on when considering a credit card. High rates of interest can lead to higher bills, which is why you should always look for cards with the lowest rates, especially if you plan to transfer debt to the card.

Citi® Platinum Select® Card, for instance, offers 0% APR for nine months, and 9.49 APR after the introduction period. Chase Platinum Visa®/MasterCard®, a comparable competitor card, offers 0% APR for six months and as low as 8.74 APR after the introduction trial.

Discover® Platinum Cards each offer 0% Introductory APR for 6 or 12 months with fees as low as 7.99% after the introductory period has ended. And AT&T even has its own card now. AT&T Universal Platinum MasterCard® offers 0% APR for 12 to 15 months with a 9.49 APR after the introductory period.

Citi, in addition to their Citi® Platinum Select® Card, has a variety of credit cards that offer various rates. Some of their cards may offer a cash back program, which provides you a source of debt consolidation.

Citi® Driver's Edge® Platinum Select offers 0% APR for 12 months and even allows you to earn 5% rebates on purchases for nine months and then 1% thereafter. Citi® Dividend Platinum Select® offers 0% APR for 9 months and you can earn 5% cash back at supermarkets, drugstores, and gas stations. You can earn an additional 1% on all other purchases.

No matter which credit card company you choose, you should sign on with their cheapest credit card with the cheapest interest rates for consolidating debt.

Real Up Sides To Debt Counseling

Not everyone believes that credit card debt counseling is beneficial and there are various reasons for that. Some people just read articles in the newspapers or find advice on the internet and take that as the final thing. So they don't feel the need for credit card debt counseling.

Some others feel that credit card debt counseling companies are just trying to make quick money by telling you the obvious i.e. by telling you something that is being advertised everywhere. However, the most important reason arises from the fact that not all credit card debt counseling companies are genuine and of those that are genuine, not all credit card debt counseling companies provide good advice.

So, choosing a proper credit card debt counseling company becomes a critical factor in determining the success of credit card debt counseling. Always go for a reputable credit card debt counseling company, even if their fee is a bit higher.

Remember that a proper credit card debt counseling can help you in not just eliminating your credit card debt, but eliminating your credit card debt in a way that is so cost effective as to more than offset the fee credit card debt counseling company is charging you. Moreover, proper credit card debt counseling can save you a lot of time and energy that you would have otherwise spend in studying all about credit card debt, gathering information about various credit card debt elimination measures and comparing these measures.

Further, these credit card debt counseling companies can present more than one solution to you from which you can choose whatever appeals the most to you. These credit card debt counseling agencies can also get your credit card debt settled much quicker than if you were trying to do it all by yourself (and without any credit card debt counseling).

Also, credit card debt counseling could bring to light things which you would not have been able to see e.g. risks with the approach you were thinking to adopt or a futuristic view of things. Moreover, a person who earns his/her bread by practicing credit card debt counseling as a profession, would know the tricks of the trade which no one else would even have an inkling to e.g. pitfalls of a particular debt consolidation offer, or advantages of another offer etc etc.

There is no doubt with regards to the benefits that credit card debt counseling can bring to you. However, you need to be careful and avoid the fraudsters and pick up someone who has a good reputation.

Credit card debt counseling

Is 'credit card debt counseling' really beneficial?

Not everyone believes that credit card debt counseling is beneficial and there are various reasons for that. Some people just read articles in the newspapers or find advice on the internet and take that as the final thing. So they don't feel the need for credit card debt counseling. Some others feel that credit card debt counseling companies are just trying to make quick money by telling you the obvious i.e. by telling you something that is being advertised everywhere. However, the most important reason arises from the fact that not all credit card debt counseling companies are genuine and of those that are genuine, not all credit card debt counseling companies provide good advice. So, choosing a proper credit card debt counseling company becomes a critical factor in determining the success of credit card debt counseling. Always go for a reputable credit card debt counseling company, even if their fee is a bit higher. Remember that a proper credit card debt counseling can help you in not just eliminating your credit card debt, but eliminating your credit card debt in a way that is so cost effective as to more than offset the fee credit card debt counseling company is charging you. Moreover, proper credit card debt counseling can save you a lot of time and energy that you would have otherwise spend in studying all about credit card debt, gathering information about various credit card debt elimination measures and comparing these measures. Further, these credit card debt counseling companies can present more than one solution to you from which you can choose whatever appeals the most to you. These credit card debt counseling agencies can also get your credit card debt settled much quicker than if you were trying to do it all by yourself (and without any credit card debt counseling). Also, credit card debt counseling could bring to light things which you would not have been able to see e.g. risks with the approach you were thinking to adopt or a futuristic view of things. Moreover, a person who earns his/her bread by practicing credit card debt counseling as a profession, would know the tricks of the trade which no one else would even have an inkling to e.g. pitfalls of a particular debt consolidation offer, or advantages of another offer etc etc.

There is no doubt with regards to the benefits that credit card debt counseling can bring to you. However, you need to be careful and avoid the fraudsters and pick up someone who has a good reputation.

Credit Consolidation - The Role Of A Debt Counselor

If you owe more debts than you can pay back, you might be planning to go in for a credit consolidation program. In order to make the best use of this excellent financial tool, you are recommended to go through a debt counseling service. A debt counselor plays a very important role in consolidating all your debts in the best possible manner. He/she will help you get out of debt much sooner while reconstructing your credit score simultaneously.

Understanding The Credit Card Process More Efficiently

One of the major reasons why more and more people are getting into debts these days is the misuse of credit cards. When you choose to go in for a credit consolidation program, you are assigned a debt counselor who will analyze your specific debt situation and will suggest the most suitable solution. As per a statistic, more than seventy-five percent of credit card holders do not pay much attention towards their credit card balances and the monthly payments that they are making. Debt counseling will help you manage everything associated with your credit cards. The counselor will make sure that you do not accumulate your credit card bills because of your carelessness.

Managing Your Finances
When people get into a deep debt problem, they are so tense that instead of finding a solution, they mismanage their finances to a further level. The debt counselor assigned by the credit consolidation company will help you manage your finances in a much better way while you pay off your debts. They will teach you how to manage your earnings and expenses in such a way so as not to accumulate more debts. Always remember, if you want to achieve a better credit score rapidly, the best way to do this is to pay off your existing debts in time without accumulating more debts.

Debt Management
The credit consolidation counselor will not only manage your profits and expenses, but they will also teach you about effective debt management. Your objective is to reduce the burden of your debts as soon as possible. They will suggest a suitable debt reduction program. The good news is that they will do everything on your behalf. You just have to work harder in order to get control of your finances. The counselor will negotiate with your creditors and will convince them to reduce the rate of interest to a lower amount. The credit consolidation counselor will also convince your lenders to write off the penalties, if any.

Overall, if you want to manage your debts in way that could help you reconstruct your credit score while you pay off all your debts at the same time, you are recommended to work hand in hand with a credit consolidation counselor.

Know the real from the fake in consumer debt counseling

Believe it or not, there are many consumer debt counseling business who want to take part in your hard earned money.

These companies know that you have big debts to pay and so they take advantage of your desperate anxiousness and promise you that they have the solution to throw all your debts to the wind.

How do these debt counseling companies work? What could you possibly do to avoid being scammed by their promises?

The real ones

Legitimate and valid consumer debt counseling services are able to do the following: make late credit accounts current with no back payments necessary. Also, late fees and those that are already over the limit could be stopped. Real debt counseling services are able to consolidate high loan interests as well as balance accounts. They also find a method for its clients to still be able to keep their credit cards for essential expenses such as travel, business or any type of emergencies.

The fake ones

Beware and be wary of debt counseling services who claim themselves to be a non-profit group when in actually, they are far from being one.

One example is AmeriDebt. The Federal Trade Commission has fortunately shut this company down due to numerous and various complaints from its customers. The way AmeriDebt scammed debtors was by telling them they could easily get out of their debts. This could be done, according to them, even with no upfront payment fees.

However, they were able to deceive their customers into forking up contributions, voluntarily.

These payments, made every month by their clients, were transferred to companies-for-profit, instead of sending the money out to the creditors.

As a result, the clients suffered by worse credit ratings and annoying bill collectors. Currently, all accounts at AmeriDebt have now been transferred to a reputable agency via a bankruptcy third party trustee.

Payments will be lowered

Any claim made by debt counseling services that payments will be lowered are illegitimate. The fact of the matter is, payments can't be lowered. The only aspect in debts that could be lowered are interest rates.

You'll call them, not the other way around

Any offer of services that involve the settlement of debts are bogus. You need not be offered something you can very well do so yourself. All you have to do is pick the phone up and call any of your creditors. They are more than willing to negotiate with your demands.

All in all, don't be easily swayed. It pays to know more than be duped for money that rightfully should be yours.

Get Rid Of Credit Card Debt with Credit Counseling

Credit card debt has been an ongoing problem ever since the credit card was created in 1950. People were going into debt at an astounding rate. Many are trapped into unbearable credit card debt that they couldn't possibly pay it all back.

A debt free life is a dream to many debtors. There are many options available today for you to get rid of your credit card debt, but the keys to success are your patient and consistency to carry out the plan in your selected option. This article will discuss on one of credit card debt solutions called Credit Counseling.

What is Credit Counseling?

Credit counseling was introduced by federal government to provide counseling services and help you to find out what steps you could take in order to relieve from your debt. The credit counseling companies will assist you to set up a payback plan that will help you to get out of debt within a certain years.

The credit counseling agencies are designed to be non-profit, which means majority of your payments must be earmarked for debt payment. However, credit counseling agencies can legally collect a small fee for administrative costs, but most of the counseling services' fees are paid by the lenders themselves, which send back to the services a portion of the payments received.

How Does Credit Counseling Work?

Typically, counseling services help you to negotiate lower payments with credit-card companies. Before a credit counselor proposes to you a repayment plan, he normally will do some assessment on your current financial status and get detail information on your debt condition.

Your counselor can then map out different ways to debt consolidation, potentially pushing all or most of your outstanding balances onto one or two low interest cards or even taking out a debt consolidation loan to get rid of some or all of your credit card debt.

When Do You Need Credit Counseling?

If you are able to pay your bills and are current on all your accounts, you almost certainly don't need credit counseling. If your interest rates are too high, you usually can negotiate a lower rate with your credit-card companies just by asking or threatening to move your account elsewhere.

You will need credit counseling if:

• You can't pay the minimums on your credit cards.

• You're consistently late paying one or more of your regular bills.

• You're being hounded by creditors and collection agencies.

• Your efforts to work out reasonable repayment plans with your creditors have failed.

If you are too serious in dept, a credit counseling service may not able to successfully help to negotiate with credit card companies for a payment that will give you breathing room or get you out of debt. If that is true, bankruptcy may be the best of bad options.

In Summary

If you have unbearable credit card debt and the harassing creditor phone calls have made you in deeply stress which causes you can't think of an idea or a way to settle your credit card debt, a credit counseling service should be able to help you. By going through credit counseling process, you will have a better picture on the options available to you to get rid of your debt; enroll to propose payback plan that best suit you financial capability.

Debt Counseling - What It Can Do for You

Statistical reports show that nearly 80% of consumer expenses in the United States are on credit and the most convenient way to shop is to use plastics, or more popularly known as credit cards. Moreover, the average debt is more than $8,000 with a typical interest rate of 18.9%.

No wonder so many people are now heavily buried in debt. Along with it came lots of debt relief programs aiming to provide consumers effective ways out of debt.

Among the many debt relief programs available today, debt counseling is one of the most well liked programs, helping more than the average consumers who seek debt consolidations.

Debt counseling is one way of teaching consumers how to administer their profits and expenditures. This program will also teach them how to avoid further accumulation of debts.

In essence, debt counseling should have been a preventive measure for accumulating debt, but the problem is that most people use this after they have already mounted lots of debts.

With debt counseling, you can learn the different ways on how to avoid debts. The main focus of debt counseling is to let the consumers be aware of their expenses, balances, and the credit score that they accumulate.

All of these things will put a great impact on the interest rates as well as the types of loans one can pursue. It is important for every consumer to seek debt counseling before they start charging their expenses.

Here is a list of things that your debt counselor can do for you:

1. Debt counselors can teach you the whole credit card process

One of the greatest problems why many people accumulate debts more than what they can afford to pay is that they aren't aware of the actual operation of their credit cards.

According to surveys, almost 75% of credit card holders aren't aware of their balances, not even the amount they are paying off monthly.

How is that? This happens when consumers only try to pay the minimum required balance stated on their credit card bill. They are only prolonging the process and accumulating bigger debts through interest rates.

The point here is that paying the minimum balance on your credit card won't get you any farther. It may lessen your actual balance but may only aggravate the situation because of the time it will take you to finish everything off.

With debt counseling, you are made aware of your payments and on how you should go about your balances so as not to accumulate more debts.

2. Money management is the ultimate tool that they can teach you

Debt counselors can give you complete details on money management. Here, consumers are taught on how to manage their expenses and their credit card bills.

Debt counseling programs will teach you how to be aware of your credit card billing statements every month. In this way, you get to be conscious of your expenses and on your available credit limit. The key is not to exceed your credit limit so as not to accumulate debts.

The problem with most consumers who are heavily buried in debt is that they are not aware of their monthly expenditures, thus, tending to cross over the specified credit limit.

Keep in mind that credit limit will most likely keep you in track. Once you have gone overboard, chances are you will find it hard to pay off your balances.

3. They will teach you how to use cash instead of plastics

Since the emergence of credit cards, consumers tend to neglect the real functions of credit cards. They don't understand that credit cards aren't extensions of their profits. Any amount used on credit cards is still payable.

So if you have been charging more than what you can pay in a month, you will definitely accumulate more debts.

Moreover, debt counseling will teach you not to use you credit cards when paying for your basic necessities like gasoline and groceries. These items are so basic that you should have included them in your monthly budget.

By any chance, acquiring them on credit will only entice you to get more than what your budget allows.

Indeed, debt counseling is a very effective way of managing debts. You should realize that debt counseling works better if they are used beforehand and not after the consumers have accumulated debts.