Cashback Credit Cards for Business Owners

Business owners can choose from a variety of credit cards, including low interest credit cards, rewards credit cards, cash back credit cards, and more. Many cash back credit cards are featured with discounts at locations of Shell, Alamo, and other merchants. Cash back can be redeemed for gas, travel expenses, business entertainment, merchandise, and much more.

If you are looking for Canadian cash back credit cards, you will find plenty of lucrative offers, featured by the big banks and second-tier banking establishments. The American Express Business Card allows cardholders to earn up to $1,250 in cash rebates, depending on the months they are carrying a balance and their spending habits. The card is offered with an annual interest rate of 19.99 percent, and flexible terms to pay outstanding balances over time. In should be noted that rates may increase up to 25.99 percent, depending on one’s payment record. There is no annual fee, and additional cards can be requested for one’s employees free-of-charge. The card is offered with disability plan for small business insurance. In addition, cardholders are entitled to emergency card replacement and travel accident insurance. Online reporting and expense management tools are another beneficial feature. Finally, cardholders enjoy front of the line entertainment. The card can be used for a variety of business purchases such as entertainment, office supplies, business travel, and more. Clients earn up to 2 percent cashback. In terms of payment options, there are different ways you can do this. You can pay your account at an automated teller machine, at your local bank branch, or through Internet banking. You can also pay it by telephone or by mail.

It should be noted that this card is offered by various financial institutions in Canada, and fees may apply. In addition, clients must qualify annually in order to receive rebates. Rebates are calculated on purchases charged to the card only. Certain restrictions and conditions may apply as well.

Another credit card suitable for business owners is the BMO CashBack MasterCard for Business. The card goes with no annual fee and allows clients to earn cash back and get rebates to their accounts. Cardholders earn 0.5 percent cash back on all purchases charged to the card, as well as 1.5 percent on purchases at locations of Alamo Rent A Car, Shell, and National Car Rental. The CashBack MasterCard for Business is featured with no annual fee and 19.5 percent interest rate or annual fee of $50 a year and low interest of 12.9 percent. One beneficial feature of this card is BMO Premium BizAssist, going with online business support 24/7. This service is offered for $149 a year. MasterCard Easy Savings is another service that allows automatic rebates offered at participating merchants. Supplemental employee cards are also offered, allowing business owners to delegate purchasing authority. Thanks to the liability waiver program offered with this card, one’s business is protected against employee abuse.

If you prefer reward credit cards, you can check the American Express Business Gold Rewards Card, American Express Business Platinum Card, and a variety of other cards.

Is it Possible to Avoid Credit Card Debt?

Dealing with credit card debt can be one of the most stressful financial burdens in your life. Often times, credit card debt feels never ending. With fees, penalties and interests rates adding up each month, it can often feel overwhelming just trying to make the minimum payment. Not only can dealing with this financial burden be stressful to deal with, but it can also affect all areas of someone’s life. From relationships to future financial decisions, credit debt impacts every aspect. Avoiding debt may seem impossible to some people. Taking the necessary steps can help to guard ones finances against having to rely on credit cards during difficult financial periods.

Many times, people get into credit debt because of unexpected emergencies or situations that arise. Not being prepared for these unforeseen disasters can result in serious debt. The best way to prevent this from happening is to build an emergency fund. Putting money away each week or month is important, no matter how small or large the amount. This money needs to be put away and only used for major expenses that arise, such as medical costs or car repairs. Working with a trusted bank such as Bank of Montreal or Royal Bank of Canada to build an emergency fund can be one of the best pro active ways to guard yourself against credit debt.

Many people find themselves in credit card debt due to over spending. Many younger people or new card holders forget that this is money that has to be paid back. Each month, people over spend and charge more they then can afford to pay back. This causes a balance that can quickly get out of hand. It is important to only spend an amount that one can afford each month.

Many credit cards offer cash advances. Using this feature is one of the quickest ways to land in debt. Cash advances come at a very high interest rate and must be paid back in full, along with interest and other fees. Having a emergency fund can prevent ever having to use a credit card to receive cash advances.

Many people in credit debt find themselves using more than one card. This is a common mistake. Keeping the number of credit cards to the bare minimum is a wise decision. This helps to control spending, as well as the amount of money you spend. It is also important to pay each month’s bill on time. Late fees can add up, making it almost impossible to pay the card down.

Redeeming Your American Express AIR MILES Credit Card Rewards

American Express Canada acknowledged that the reward scheme of AIR MILES in the American Express AIR MILES credit card has contributed significantly towards the expansion of the Amex membership base in the country. The company even added in a press release statement, that association with loyalty programs, such as the American Express AIR MILES credit card programme, is necessary for a credit card product to be competitive and to be able to penetrate the credit card market in Canada. This observation was drawn from the results of a survey of 1,000 Canadians, where one of the survey findings indicated that close to 50 percent of all Canadians are members of some form of rewards program.

By merely using your American Express AIR MILES credit card for your charity donations, purchases on leisure and entertainment, service and subscription, merchandise, gift cards and certificates, travel, music CD’s, movie DVD’s and a lot more at participating sponsors, you will earn your reward miles at a rate of one point for every fifteen- or twenty-dollars depending on your American Express AIR MILES credit card.

There is no limit on the number of rewards miles that you can collect or redeem through your American Express AIR MILES credit card. You choose from the four different kinds of American Express AIR MILES credit card reward offers, namely, Print an Offer, Click an Offer, In-Store Offer and Contest Offer. With Print an Offer, you can print the offer published in the Sponsor’s website. You can then take the printed coupon when you shop at the Sponsor’s store so you receive the bonus offer.

You may wish to take advantage of the Sponsors’ American Express AIR MILES credit card holder bonus offer featured in their websites through Click an Offer. This type of offer is only redeemable via online shopping, so you do not need to visit their physical stores. The In-Store Offer, on the other hand, can only be redeemed at the Sponsor’s location. You do not need to purchase anything on your American Express AIR MILES credit card from the Sponsor to receive your bonus; you only have to visit the location to earn it. The Contest Offers are those contests offered by Sponsors where you get the chance of winning some items including bonus reward miles.

When you want to redeem the reward miles you have earned on your American Express AIR MILES credit card for an item you like, but you are lacking a few hundred points for the item, you are still given the chance to redeem the reward. You can actually purchase, using your American Express AIR MILES credit card, the lacking reward miles provided that they will not exceed half of the total reward miles needed for the item. For each reward mile, you will have to pay thirty cents plus gross sales tax. This scheme is available on all rewards. Note, however, that you can’t ask for a cash refund once you purchase the additional reward miles, irrespective of whether the transaction was done on your American Express AIR MILES credit card or not.

Prepaid Credit Cards — Live the Life of Convenience

Prepaid credit cards offer one of the most user-friendly and convenient ways of managing debts obtained from credit card purchases while maintaining the quality of enjoyment obtained from those tiny plastic financial instruments. Also called a stored-value credit card, it generally shows some similarities with common debit cards since money is stored or deposited with the primary issuer. But the most obvious similarity that can be spotted between the two is that stored-value credit cards usually display the individual owner’s names for security purposes while debit cards will issue the names of each single account holder. These are all done by enrolling every financial account of a prospective user under a bank card name so that every personal account details will be mailed to the card holder’s address as deemed necessary. But despite all of these comparisons, we can definitely rely on the fact that these cards, when properly used, can still offer one of the best and top-rated financial-related services to global customers and clients from all over the world.

Prepaid credit cards are usually branded with gigantic names in the banking and finance industry, such as Visa and MasterCard. And because of this apparent commercialization, the best thing that we can say about these cards is that if we compare it to other privilege gift cards, they can be better and widely used at almost any payment or cash transactions worldwide because of their proven reliability.

Usage of prepaid credit cards has also its own set of rules and regulations. In the country of Canada for instance, their own Financial Consumer Agency publishes booklets that contains necessary, relevant information such as the advantages and disadvantages of using these cards. The coverage of the practical tips contained inside are not only limited to the usage of these cards within Canada but in the other countries as well. Moreover, if we compare the features to other modes of payment like check issuing and direct to bank transactions, many are just compelled to prefer and obtain these stored-value cards.

There are many uses of prepaid credit cards. For one, we can save ourselves from the inconvenience and risks of bringing hard, cold cash in our pockets if we will obtain one. Add to that is the availability and accessibility of cash anytime and every time whenever the customer needs it. They can also be used to fund payment transactions being done online, and we can take the example of the services being offered by PayPal. PayPal is a worldwide online trademark that offers one of the most top-rated services when it comes to sending and receiving payments online, and for this matter, it will really be convenient if we have our stored-value credit cards ready to fund the transaction to ensure faster processing and delivery of payments.

Improve Your Poor Credit Score and Secure Yourself a Loan

So you are thinking of getting some extra money to make some urgent home repairs, the porch door needs replacing, along with a new hot water system. Unfortunately you do not have the money in the bank, but neither do you have a secure porch door or any constant hot water.

Have you considered personal loans? A lot of people take out personal loans for this type of repair. Car repairs and even holidays are used by people with their newly acquired finances. Most people have heard that a poor credit score is not a good thing (However even those that have a poor financial history can still get loans). But how do you make a good rating?

One of thing major pieces of advice from experts, before you apply for finance it is best to get a credit report completed from a reputable source. This will give you an idea of the chance of getting your application approved. In the United States of America there are three levels of credit rating, basically the higher it is the better it is.

An excellent rating is above 760, a good rating would be between 700 and 759 and a poor rating would be between 640 to 699. if you are at the top end, 760 and above then there is no point in making your rating any better. However with other ratings it is worth trying to improve as it will help your chances of succeeding in the application.

There does seem to be a bit of a chicken and egg situation sometimes, you need finance but have a poor score,but to improve you need a lender to give you a chance. Well, luckily there are things that you and your family if you have one, can do to improve your rating.

Having a poor rating does not mean you have to be stuck with it, starting to pay the bills on time instead of late or not at all will start to get you on the right path. Some lenders will still give applicants loans even with a low score, but the total given will be lower than usually and the percentage rate will be considerably higher. So you will pay more over the period of the finance.

Families can help too. If a member of your family has a good rating then some credit card companies can add you to that family members credit card as an authorized user, this will help with any poor credit score. Also having a family member with a good rating co-sign the loan could help you get what you need.

Finding the correct lender for your score is a good way to make sure that you are getting what you deserve, if you have a high score you deserve some of the best deals on the market. Instead of going to your bank or card company you can go online and search for a matching company. Companies like this are a good place go to make sure you achieve the best deal.

What are a matching company and what do they do? You enter your details on their online program and your information will be fed to several of their approved lenders, in turn the lenders will then return to the matching company with a list of loans that they are able to offer.

Once the offers come back it is then up to the applicant to choose one and complete all the necessary paperwork. A check will then be received within a matter of days and your new boiler and door fitted soon after.

How You Should Process Your Short Term Loans

Borrowing money makes a decisive difference, especially when you are struggling through the times of financial emergencies. Small time loans like the Short Term Loans are one of the quick and convenient cash credit alternatives that you can and should consider to ameliorate your ongoing emergency financial crisis. These loans improve your credit score too, but again; you need to be a bit judgmental of other prerequisites and options.

Short Term Loans and the Credit Score – Understanding the Basic Scenario

Short term small loan applications usually show up in your credit report. If you had applied for these loans few months back, then your credit score reflects this option. Furthermore, all the repayments made towards the loan will highlight in your credit profile. Making the repayments on short term loans will show you in positive light before the lender. He will have trust, and you will enjoy peace of mind.

Short Term Loans Improve the Credit Score

Short term loans help to improve the credit rating. However, availing the loans is still a risky process, and you need to have an Argus-eye over it.

In general cases, the interest rates charged on these loans are considerably high. If you are confident of making the payments within lender’s designated time period, it will not cause any hindrance. But the longer you delay in paying-off the loans, the costlier these loans turn out. There comes a time when you might even repent your decision of having applied for cash advance for the sake of improving the credit score.

Instead of going for a short term loan to boost your credit rating, there are better ways to move the credit worthiness. What you have to do is to look for alternatives, rather than making a rash decision in an instant. Taking out a credit for the sake of credit is something that needs proper research and analysis too.

Having a good credit score is necessary, since it reflects your credibility as a borrower. A not so good credit score on the other has a negative impact, as it severely affects the flow of credit in the future.

Improving Your Credit Score: Placing the Sound Methodologies

Just because you are having a bad credit, it does not entirely mean the end of the road. You can still improve the credit score. Here are two legitimate points to look into:

  • Clearing outstanding debt by paying on time – Clearing your dues on time will maintain your credit score over a long period of time. If you are having outstanding debts, make sure to minimize them. This certainly helps to improve the rating.
  • Building a solid credit history – For first time borrowers, with no credit history, it is essential to build a good credit history. To increase the credibility, it becomes necessary to limit the expenses, and if you had availed loans and there are arrears, you must ensure to clear them. Paying off the debts within stipulated time frame is way to success.

Credit rating helps the borrowers to gain advantage and secure loans and debts. Good credit ratings help borrowers to borrow money. The methodologies you apply to improve your credit ratings will make huge difference in score records.

Applying for a Personal Loan With Subpar Credit – What to Know

Anyone that finds themselves with multiple balances on credit cards that have high interest may consider looking for a personal loan with bad credit. This allows them to transfer those balances and take advantage of a lower interest rate to pay off their cards. Sadly, many banks will turn them down due to their credit. Thankfully, there are ways to get a loan that will help them save money, even with that low credit score.

Whether due to financial issues, job loss, or just striving to build a good credit score as a first time user it is difficult to get a loan. The way credit reports work is always changing and there are many factors that affect a person’s credit. It’s important to stay in the know about how to build it, and what your options are. There are likely more options than they think. Here are some ways to apply for and get a personal loan with bad credit.

How to Get a Loan with Bad Credit

Having zero credit or poor credit is a major issue when looking to secure a loan, because that person is viewed as a high risk customer who may default. It’s important to accept that until the credit score is raised, one won’t be able to enjoy the standard lending guidelines offered by big banks.

For anyone that’s been turned down for a loan or who doesn’t want to pay monstrous rates, here are some options:

Consider a Home Equity Line of Credit

If there is enough equity in owned property, it’s possible to secure a tax-deductible, low-interest loan or line of credit that can be used in any way. The only downfall is that many don’t want to tap into their home equity as it puts the property in jeopardy if they can’t repay it. However, with a steady income and a bit of discipline then this can be paid off and is a less pricey option no matter what the credit score!

Try and Apply to Credit Unions

Credit unions are so much better than a regular bank. That’s because they are member-owned. Usually they are founded by people who have something in common whether it be living in the same area, or working in the same profession. They are nonprofit and have a sole purpose of helping members. They offer great customer service and low fees.

Borrow from a Friend

Consider what’s called P2P or peer-to-peer lending. There are even sites online that let a person borrow from someone directly rather than a bank. This form of lending is getting very popular and is quite simple. It’s a winning situation for both investors who want to earn interest and borrowers who enjoy paying lower rates. It’s the perfect solution when looking to apply for a personal loan with bad credit. Current rates with P2P lending are as low as 6%. That’s far lower than most credit cards.

Family Loans

If an online peer doesn’t pick up a loan request, there’s always a chance a family member might. However, it’s more than important to treat a loan from someone in the family just as a professional loan. It should be documented and recorded. A written agreement should show the interest rate, terms of repayment and collateral that’s going against the loan. It should also lay out all the actions to be taken if the borrower does not repay.

What About a Co-signer?

If one is searching for a personal loan with bad credit and they don’t have a family member or a friend that is available to offer the loan, maybe they would consider co-signing. This is when someone who trusts that the borrower can repay the debt would take a chance on them and be a back up to repay the loan should that person default.

Home Improvement Loan or Personal Loan

Personal Loan or Home Improvement Loan? That is the question.

We love decorating our houses.

And there are phases in our lives when maybe we’ve spent too much time watching Food Food or TLC and thus have built castles in the air of visions of turning our kitchen into a chef’s paradise. Or perhaps our master bath is just one shower away from a disaster. For we really do love Italian tiles on our bathrooms.

And if so, then cheers, you’re not alone. Recently, the Joint Center of Housing Studies for Harvard University has investigated and reported that the home improvement industry should continue post record-level spending in 2016. For many people, this means borrowing money to pay for the well planned home improvements and home decorating schemes.

Now, one is ought to face a tough and difficult and perhaps hypothetical question.

So, which home improvement loan is right for you?

Many homeowners and homemakers look to tap the equity in their homes. But home equity loans or home equity lines of credit may not be possible or very practical for some borrowers. In that case, one should consider using a personal loan.

While it is known that one can use a personal loan for a variety of reasons, there are a few reasons why a personal loan can have advantages over home equity loans when it comes to a renovation loan, to be specific.

The application process for a personal loan is usually quite simple and quite straightforward. Your own financial situation-for example, your credit history and earning power; this is often the main deciding factor for whether or not you will be able to get a loan, for how much, and if so, at what interest rate. Some personal loans even boast of having no origination fees.

However, home equity loans or home improvement loans on the other hand, are akin to applying for a mortgage (in fact, home equity loans are sometimes called second mortgages). How much you can borrow depends on several factors, including the value of your home. Because you can only borrow against the equity you already have (i.e. the difference between your home’s value and your mortgage), you may have to arrange – and pay for – a home appraisal.

Let’s now see this case in the case of a home improvement loan. With a home equity loan or a home improvement loan, you can only borrow against the equity you have – which, as a new homeowner, is probably not much. You maybe have not had enough time to chip away at your mortgage and the market has not yet elevated your home’s price. A personal loan lets you start home improvements regardless of how much equity you have. So, that is one benefit of availing a Home Improvement Loan.

With a home equity loan, you use your home as collateral, which means an inability to repay could result in your home going into foreclosure. While failing to pay your personal loan carries its own risks (like ruining your credit and credit score), it is not tied directly to the roof over your head,like a gun on your head. Therefore, it is better and safer to avail of a personal loan.

So, if we were to decide, which one is better and safer and more suitable?

Personal loans may not be right for every borrower looking for a home improvement loan. For example, if you have significant equity in your home and are looking to borrow a large amount, you might be able to save money with lower interest rates on a home equity loan. Also, interest payments on home equity loans and lines of credit can be tax deductible under certain circumstances; but that is clearly not the case with personal loans.

On the other hand, personal loans can make sense for these types of customers:-

• Recent home purchasers.

• Smaller home improvement loans (e.g., bathroom or kitchen as opposed to full remodel)

• Borrowers in lower home value markets (if your home value has barely budged since you moved in, you may not have much equity to draw on for a home equity loan).

• For those who value ease and speed.

• Borrowers with great credit and cash flow.

While home equity loans and lines of credit are a good source of home improvement money if you have already built up equity in your home, a personal loan may be a better alternative if you are, say, a new homeowner and need to take care of a few updates to make your new home, just right and perfect.

Concluding, we conclude that a personal loan is a better option than a home improvement loan,anytime.

Know More About Personal Loans

Planning to get your house renovated but do not have the sufficient amount of money to do it? With the concept of personal loans, you do not need to worry about this anymore. Personal loans are offered by the banks which enable you to use the amount for personal use – like for paying off an immediate debt or for clearing an unforeseen expense.

Though the concept seems to be very lucrative, getting one approved is not an easy task. In order to be able to qualify for getting such a loan, certain strict norms have to be followed. Thus, if you are planning to apply for one, there are certain points which should be kept in mind.

These loans are not secured: This type of loan does not require any asset to be kept as a mortgage to the bank. However, if one fails to repay the loan the bank has the right to seize any asset be it your property, house or car. However, in most cases, if the defaulter does not have any asset to give in lieu of the loan it becomes very difficult for the bank to get back the money. This is one of the major reasons as for why it is difficult to get a personal loan approved. In such a situation, the bank can file a legal suit against your name to carry out the legal proceedings.

They have a fixed amount: The amount of a personal loan depends entirely on the borrower’s income and also on the lender’s discretion. It is based on the borrower’s credit score. A credit score is a measure to get an idea of one’s income which enables the lender to decide upon the amount to be given as a loan. Some of the banks have limited the amount they offer as a personal loan.

The rate of interest is fixed: The interest rate is decided based on the borrower’s credit score. In an ideal situation, the interest rate should be less which would enable you to repay a loan at a much lower cost. The most important fact about personal loans is that the rate of interest remains fixed during the entire tenure the loan. However, some banks offer loans at variable interest also, which makes it difficult for the borrower to repay it.

One must always try getting the loan from a bank in which he has an account. This is because it would be much easier to get the loan approved. One must also be careful while applying for one as there are many scams which keep taking place. One must also explain the bank about his/her need for money, in case they can offer something much better.

All You Need To Know About Personal Loans

Loans are of several types. It can be classified according to the needs of the person. Suppose, if one wants a loan for his/her home, he/she should take a home loan. If the person needs money to fulfill the educational needs he/she shall be allowed the educational loan. Other types of loans are personal loan, payday loan, etc. However, when one is considering to take a loan he /she should keep in mind that the interest rates for all the types of loans do differ. In this article we shall be dealing with the personal loan and will try to find out how one can get a loan.

A personal loan is something that you might need at any moment for buying anything of your choice. This can be a television, a fridge or even a designer dress that you have come across in the shop. This can be the medical expenses that crops up immediately without any notice. Anything and everything can fit into the personal loan bill.

To apply for a loan one needs to have a good credit. This will make the loan approval process quicker. If one is having a bad credit score then the chances of getting a loan are much less. So, when you apply for a loan make sure you have a clean credit report.

A bank would take time to approve for a loan as they check all details before finally saying you “Yes”. If you want a loan fast you can apply to those financing institutions that offer loans quickly. The crucial point of choosing these organizations over the banks is that they might charge high interest rates, although all the some are an exception in this case. And of course it is better as the process is fast and hassle free when you are really in need of money.

If you are applying for the loans please be sure to go through the terms and conditions of the loans. This will make sure that you are aware of what you are agreeing to pay.

What are the things you need to be careful about?

Be careful about the repayment terms. We advise you not to go for long term loans. There are certain companies which charge hidden amounts and you will never know what you are paying for. So, make sure that you do not fall into their trap. Always take a bill when you pay them so that you have a proof of the money you have paid.