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Credit, Debit & Billing: All Cards in Your Wallet

 

 

It is likely that plastic pay (cards) should replace cash in kind once in the next few years. But today, while debit cards and prepaid cards often share some of your older brother’s resources, credit cards, each type of card is separate and distinct, its goals are specific. To find out which one is right for you, keep reading.

 

Credit cards

 

Credit cards

 

Real credit cards have a defined spending limit between (R $ 500, R $ 2,500, R $ 25,000, R $ 35,000, etc.). The limit is based on the credit score, income and score of the cardholder’s current position. They also allow consumers to borrow money from the card, and payment is made once a month (which is the payment of the monthly bill).

In general, as you spend more money on the card, your credit limit increases. However, if you are constantly making late payments of your monthly bills or fail to make payments, your limit will be reduced (or your credit will be cut), and the interest rate charged with a fine and correction month after month on the balance due.

While many non-annuity credit cards are currently available, interest rates can reach 233.8% per annum, so shop carefully and know how to select your new card. If you have had trouble managing your credit and can no longer get a conventional credit card from banks and financiers, some credit card companies offer prepaid cards, secured cards and virtual cards.

With these cards, you deposit money into the card issuer – usually $ 100 to $ 1000 or more – and then you can get a credit card with a spending limit equal to the amount of money deposited. In secured cards, the deposit earns interest and is usually repayable after establishing a satisfactory credit history.

 

Prepaid cards

 

Prepaid cards

 

When you think of credit cards, then think about American Express, Diners Club among others. Unlike credit cards, debit cards do not have a monthly spending limit, the discount is made directly from the bank account. But on the prepaid card, you can make an unlimited number of purchases with this type of card, but you need to have enough balance to afford the cost of your purchases.

Prepaid cards or (charge cards) usually charge an additional fee and apply penalties to discourage you from keeping the balance unused. Like credit cards, some cards charge a monthly fee that can range from $ 4 to $ 9 or more.

But regardless of fees, for many consumers, the cost of having a charge card is often significantly less than the cost of having a joint credit card due to interest-related debt that can be accrued for misuse.

 

Debit card

 

Debit card

 

Debit cards work as plastic checks. When you make a purchase with a debit card, the purchase payment is deducted directly from your bank account. If your account does not have sufficient funds to cover expenses, payment will be refused. Online debit cards work like credit cards, requiring you to provide the relevant information.

But offline, your card works like an ATM card, requiring you to enter a personal identification number (PIN) to start transferring funds from your bank account to the merchant’s bank account. After a few minutes or days later, the funds to cover the purchase are transferred from your bank to the merchant’s bank.

Reduce day-to-day costs, expenses and expenses

If you want to reduce your spending and avoid the desire to buy things that you can not afford, debit cards is your best choice. There are no monthly invoices, no interest rates (unless you’ve linked to the account overdraft), and usually no fee is charged to get a debit card from your local bank.

Visa and MasterCard are currently the largest debit card issuers, so merchants who accept Visa and MasterCard credit cards also accept debit cards. It is worth mentioning that debit cards are subject to fraud as well as credit cards.

Conclusion on credit, debit and collection cards

Putting a plastic (card) in your wallet is the most convenient way to avoid carrying cash, yet still maintain the ability to make purchases and make payments in trade. And for those who participate in various programs and the benefits offered by credit cards, you can earn many airline miles or a variety of other rewards by purchasing items that you would have bought anyway.

From the financial point of view, debit and prepaid cards (collection cards) are structured in a uniform way and therefore represent a small cost and risk to your financial well-being. Their internal controls discourage or prohibit unbalanced maintenance, so the temptation to indiscriminately shop is minimized.

Misuse of credit cards

Credit cards, on the other hand, constantly serve as instruments of financial ruin for many compulsive buyers. Interest rates are limited to the obscene level (10% to 17% a month), and when the monthly payments are stretched the charges applied can destroy the finances of any person.

To avoid the various pitfalls that accompany credit card use, be aware that your habits are controlled, and keep in mind that by making the monthly payment broken does not mean that you have the freedom to shop: it simply means that you can buy, but can not afford.

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Why Switch To Online Banking? The 5 Good Reasons for Credit Loans

You must have heard about banks online. But you may be hesitant to transfer your accounts to this type of bank. However, they offer many advantages among which lower fees, ease of management, time saving … It is no coincidence that, in 2018, three quarters of account openings are made on an online bank . To convince yourself, here are five advantages of an online bank.

 

Ease of management and efficient customer service

 

 Ease of management and efficient customer service

 

Online banks are strong and operations are completely secure. But above all, it is extremely easy to manage your accounts.

If you need advice, online banks have a very effective customer service. Telephone counselors can be reached over a wide range of times, often up to 22 hours on weekdays and 20 hours on Saturdays, as is the case for ING Direct .
With online banking applications, you manage your accounts from your smartphone, computer or tablet.

 

Automated actions give you peace of mind

 

 Automated actions give you peace of mind

 

With online banks, many actions are automated. It is thus possible to receive SMS alert for free to better manage his account. The customization of these alerts is simple, reliable and fast.

All current services are offered, whether it is the bank account, current transactions, savings accounts or financial investments .

You save a lot of time

 

 You save a lot of time

On an online bank, you manage all of your activities via the Internet. All operations can be done from your computer, smartphone or tablet. It is no longer necessary to make an appointment with a physical advisor to carry out your various steps. You manage your account yourself. But this does not prevent you from accessing personalized advice by phone or email.

Your customer area gives you the ability to track your accounts constantly, wherever you are and seven days a week. This perfectly secure place gives you access to the history of your transactions, allows you to place orders, print your documents …

It is even possible to subscribe to different products 100% online thanks to the electronic signature.

You pay less

 

By opening an account in an online bank, you save money. As online banks do not have a physical agency, they have less costs to bear than a conventional bank. This allows them to offer much more competitive prices and the savings can reach 500 euros per year.

Online, many services are free. This is very often the case with the bank card. Even when this card is paid, you save, on average 50% compared to that proposed by a conventional bank. Savings products are also free of entry and exit fees while general rates are more attractive than those of a physical bank.

Online banks regularly make interesting offers for opening an account. You can earn 80 euros (or more) by simply opening an online account.

It is completely complementary with a traditional bank

 

If you are attached to your traditional bank, nothing prevents you to open anyway an account in an online bank. Both systems can be complementary. If you are very attached to your appointments with your advisor, you can very well keep an account in a conventional bank and complete your needs on an online bank.

 

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Credit Rating Inquiry

Honest Bank provides customers with the opportunity to learn the credit rating calculated from the credit card accounts used by banks and the historical data of individual qualified loans.

In fact, we can say that Honest Bank is an institution that offers flexible and practical solutions for its customers to easily learn their credit ratings. If you want to question your credit rating in the long term or for your instant credit needs, you can do this with the methods offered by Honest Bank…

Learning Credit Rating Through Honest Bank

cash

Credit rating is the scoring system obtained by collecting and analyzing the data of the payments made as a result of loans and credit card products used by individuals from financial institutions. We can also say that the most important reference note that banks look at when making loans to people.

Therefore, people who want to learn the credit rating, which is a reflection of the payment scheme, can perform this transaction through Honest Bank. Thanks to this service and convenience provided by the bank, anyone can question their credit rating without wasting time.

In this article we have created for those who want to learn the credit rating through Honest Bank, we have shared with you the channels that can be used for questioning the credit rating of the bank.

Learning Credit Rating from Mobile Banking

Learning Credit Rating from Mobile Banking

It is easy to obtain a credit rating from Honest Bank’s mobile branch. For this, you must follow the path; Logging in to Honest Mobile Banking, clicking on the ACC reports tab in the Applications menu and having your credit score questioned.

In order to make transactions through the mobile branch, you must first obtain a password using any bank credit card or Paracard. You can start your transactions immediately by taking your password with the appropriate option.

Learning Credit Rating from Internet Branch

Learning Credit Rating from Internet Branch

 

 

You can learn your credit rating in just a few minutes through Honest Bank’s internet branch. To do so, you must first login via the internet address.

You should then follow these instructions: Click on the “Accounts and Products” section of the Internet branch. İşleme My ACC Reports ”option is clicked.

Under normal circumstances, this section is your credit rating is displayed, but if you have not reached this system or entered any credit information before, you may see “You do not have ACC Report” warning in this section.

In such a case, you can reach detailed information by using the “Apply” button on the screen to query your credit rating from the internet branch. You can learn your credit rating in Honest Internet Branch in this way but unfortunately it is not possible to learn your credit rating via SMS .

When the Bank starts to use the SMS channel for this transaction, our article will be updated and you will be informed about how to learn the credit note via SMS …

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Personal Payday Loan Repayment

payday loan

You can repay all or part of your loan before the end of the contract. However, banks may charge you additional fees, called re-employment fees. This cost of compensation is limited by law and varies if the refund is full or partial.

 

Advantages of a personal payday loan?

Advantages of a personal payday loan?

The main advantage of the personal payday loan in Belgium is that it does not require any justification . You can use the borrowed money as you wish as long as you can repay the fixed monthly installments over the period of time determined. Do not confuse this type of loan with the so-called “personal payday loan without proof”, which does not refer to a credit agreement for which no proof of income is requested, but rather to the fact that the acquisition you wish to finance is not to be justified by the bank, you will always be required to provide proof of your income.

Note, however, that a credit granted to a bank or credit institution is a reliable source of funding. In advance, you know exactly how much money you will receive. No surprise either on the monthly amount and the total amount to be refunded. The interest rate (APR) is also known from the outset and is fixed in time.

 

Disadvantages of a personal credit?

Disadvantages of a personal credit?

The main disadvantage of a personal payday loan is its higher rate. Since the requested financing does not require any supporting documentation and therefore can create more risk for the banks, the interest rate of an installment loan will generally be higher than for an affected loan such as mortgages, auto loans for new or used car, motorcycle or works.

 

Personal payday loan,how to find it?

Personal payday loan,how to find it?

The Borrowers allows you to simulate and compare interest rates, monthly repayments and the total repayment of more than 40 banks in Belgium. Our online comparator is private and 100% free. Very easy to use, it informs you in a clear and transparent way about the conditions, advantages, disadvantages and offers of each bank. We also show you all the loans for which you qualify.

In order to find the personal payday loan at the best rate , it is essential to compare the offers of the banks according to the desired amount. To do this, go to our comparison table of personal payday loans here. Comparing the credits, you will see for example that for an amount of € 10,000 and a repayment period spanning 36 months, Belfius offers an interest rate of 6.5%, while the Savedirect Bank personal payday loan has an APR of 4.9. %.

Keep in mind, however, that borrowing money also costs money and you need to choose an amount based on your needs and finances. In just 30 seconds, The Borrowers lets you find the cheapest personal payday loan in Belgium. Do not wait any longer to compare all the banks and save up to € 1,000 on your personal credit!

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5 Financial Tips To Start A Business Or Work At Home

 

Starting a business or work at home is easy? Let’s find out! Did you know that more than in Brazil there are more than 6.4 million establishments. Of this total, 99% are micro and small enterprises (SMEs). MSEs account for 52% of private sector signed jobs (16.1 million). Although the number of establishments is enormous, a model of work that has gained volume here in the country is the home-office (both start-up companies and outsourced work).

Working at home has been a way of having flexible hours, making money, staying close to the family and maintaining some quality of life that works out does not allow in most cases. So if you are considering or are in the process of starting a home based business, have no doubt that it is a way to make money and create interesting and very important income.

Tips for starting a business

And, as with any venture, it is crucial to take the right and realistic steps to prepare for the growth and success of the business. Part of ensuring that you follow the necessary steps when starting a home based business, we’ve listed a few items that have helped you set the foundation needed to complete a successful small business. Below are five important financial tips to follow when starting a business as an established home based business.

1. Choose your structure or company format

1. Choose your structure or company format

One of the easiest structures to start and cost as little as possible to keep a company starting as an individual company. There are five types of company in Brazil. If you really want to start a business, you must know each one so that you can choose what else is close to your reality and the type of company you want to open.

See the most used types of company in Brazil that you can choose:

  • Limited Partnership (LTDA)
  • Individual Businessman (EI)
  • Individual Limited Liability Company (EIRELI)
  • Company (S / A)
  • Non-profit (NGO)

Classification according to the tax framework:

  • Microentrepreneur Individual (MEI)
  • Microenterprise (ME)
  • Small Business Company (EPP)

If you wish to limit your liability, you may want to consider another entity structure, such as a Limited Liability Company (LTDA). Be sure to consult your lawyer, accountant or business advisor about what right company structure for your business.

 

2. Open business and commercial licenses required

 

2. Open business and commercial licenses required

 

To have a better business opportunity working from home , you will need to have a business license (CNPJ) to allow you to carry out legal transactions and transactions. Be sure to hire an accountant or accountant to check the requirements and fees according to your future activities, location and rules that the company will be submitted according to your state or county.

 

3. Maintain a space for the office, production or services

 

3. Maintain a space for the office, production or services

No matter how large or small your workspace is, make a space for your business (small business) only. Since you will be running a home based business, it is necessary to establish a workspace to use in your home solely and exclusively for business purposes.

 

4. Open a business bank account

 

4. Open a business bank account

 

Having a bank account to negotiate is a key financial tool to manage your business finances. From the opening of the company, you start to receive or spend money as a company.

The account will allow you to maintain accurate records, expense and revenue reports, deposits and transfers to third parties. Separate your business account for business from your personal account. To open a bank account for your company, look for one of the banks closest to your home or your preference with your personal and start-up documents.

 

5. Get a business credit card (business card)

 

5. Get a business credit card (business card)

 

A business credit card or business card is a mandatory financial tool to keep your personal expenses separate from your business expenses. A credit card for your business not only makes it easier to track expenses, but it allows your company to start establishing its own credit score and payment history.

Starting a home based business can be extremely challenging to say the least. There is a lot to think about, organize, plan and execute so that everything works and goes as planned. So be a planner.

The good news is that there are many free resources to start a business, from trainings and supports readily available to you both online and in-person at trade associations and Sebrae and organizations willing to help small businesses and micro-businesses.

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Debt expires or prescribes as they say | Debt Consolidation

 

Does debt expire or prescribe ? This doubt is very common and even more, there is wrong understanding about one thing and another. Having debt in itself is lousy and can have serious consequences even after the 5 year period of name inscribed in the SPC and Serasa. Let’s understand what it is to expire or prescribe and how it works in practice.

Debt expires: Understand what it is

Debt expires: Understand what it is

Debt expires is a well-known term associated with the end of the 5 years of the dirty name in the square. However, there are some points that you need to understand in order to know better what is and the consequences of not having negotiated and paid one or more outstanding debts.

The debt decays, also called expired, when the creditor does not issue the release for discharge within five years. In practice, if you do not know about the debt in this period established by law, the debt ceases to exist and the consumer is not charged for it, it actually does not exist.

What about the debt you prescribe?

What about the debt you prescribe?

In relation to the debt that it prescribes, it can be understood as follows. The creditor states the default of the consumer and does not collect the debt within the stipulated period. If no one charges, after 5 years, the debt prescribes and the customer can not be charged.

And what is myth or truth?

And what is myth or truth?

In relation to prescribed debt there are two important points that people usually confuse with myth or truth. It is true that the debt expires after 5 years in the dirty name list of the SPC or Serasa the name is cleared and the person returns to have access to the credit.

This cleanup occurs automatically after this time. It is a myth that debt does not disappear. After this period, the company may continue to charge you on the outstanding amount.

Debt continues in the bank and credit card

Debt continues in the bank and credit card

If your debt is with the bank or the credit card, know that they continue and the billing as well.

There are cases where financial institutions sell the debts to collections offices and they try to solve the problem. However, depending on the value, the legal costs to enter any action or process can be much higher, which does not end up compensating for the institutions.

Believe. They can and will continue to charge you and have no expired debt!

The advantages of debt negotiation

The advantages of debt negotiation

Negotiating is very advantageous than letting the debt roll and this entails a number of issues involving your present and future. The main advantage of negotiating is to leave the name clean and this allows you to have access to credit, can borrow car or house financing, and get loans.

Besides, you can not stop saying that your past may or may not condemn you. Despite 5 years after the name is denied, your purchase and non-payment history is recorded and this can prevent you from getting credit, especially from the lender you did not receive.

The negative name, duly registered with the SPC or Serasa, is automatically cleaned after five years, according to the Consumer Protection Code.

 

Follow the terms of the negotiation

Follow the terms of the negotiation

 

More than settle any dispute with lenders, is to keep the negotiation done. Before you go out making debt deals, it is ideal to take some care and organize yourself well not to fall on a cold.

The first tip is to analyze the debt values ​​and the interest that are being placed on top. Normally, Procon can help you negotiate if the interest is abusive. In addition, most banks and institutions have online debt negotiation systems, which is great and makes life easier for the client.

Before making the agreement, already considering payment details and amounts, including fees, put everything on paper. Have your full budget for the month, do not want to commit more than 30% of your salary. If you do the math and conclude that you can settle the debt, then negotiate.

From now on the secret is to keep the agreement up to date so as not to cause major problems, such as loss of trading and anticipation of all subsequent installments.

If you feel better, also consult a lawyer and remember that in addition to money, we are talking in agreement with the bank or creditor and this involves the legal aspect as well. So, forget about this debt-expired story.

 

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Learn How Credit Scores Work From 0 to 1000 | Credit Score

 

 

How Does Credit Score Work ? Perhaps it may be a little known fact for us Brazilians that the Australian, or the Americans besides the British go crazy because of the credit score. In these countries that we quote they talk, compare and try all the time to increase their score whenever possible, generally use their score as a symbol of financial freedom.

 

How Does Credit Score Work?

How Does Credit Score Work?

 

There are even stories of people who put their credit scores on resumes when they are looking for a new job. They live and breathe for it – increase your Score or the credit score. Frankly, we also think this is something that could be done here in Brazil.

Your credit score is an easy way to get to know your health and financial situation, with just one credit inquiries, your credit standards and debts, is summed up to a number from 0 to 1000 . As said, it is very easy to understand and now get the number for free, and there is no reason for you to know what your is. Imagine applying for a home purchase or a personal loan without knowing if you will be approved or not, this is only a benefit of knowing your credit score.

Over the past few years, credit bureaus have offered access to Score and credit score for free, and as you can imagine, this was a bang. Many customers are happy to use this type of service to get their score to improve it, so we think it’s time for you to know how to score from 0 to 1000 , see below:

0 – 549. Below average score: bad

 

0 - 549. Below average score: bad

At this level your score is already below average. So be careful because you may be at serious risk of being in arrears with delinquent accounts or protests or lawsuits in the last 12 months or more.

No need to panic, sometimes simple changes can make a world of difference. To help increase your Score and your credit score, simply check in your history what is causing the points reduction, if it is debt, create a plan to achieve your financial goals again.

550 – 624. Average Score

550 - 624. Average Score

Your credit score at this point is similar to that of average Brazilians. Although this average may not sound very exciting, it is a good enough score for you to reach your financial goals and not have problems with opening credit and requesting cards or other products and services.

To get out of this level, avoid the financial pitfalls in the next 12 months that can lower your score, it is best to continue doing everything right to further increase your score.

 

625 – 699. Good Score

625 - 699. Good Score

Worked well here! You have a good credit score, which means you kept your credit report clean and unrestricted at Serasa, SPC and Boa Vistas and CCF in the next 12 months.

Your credit chances are better than most Brazilians, the opportunities are much more favorable and the interest is affordable. Continue with Good Score and keep working to build more points and raise your credit score to the next level.

 

700 – 799. Score very good

 

700 - 799. Score very good

 

Great job! With such a good credit score, you are joining a group of unique people in obtaining credit from Brazil, with this credit profile outperforming the majority of Brazilians who are economically active. This means that you have privileges with banks, financial institutions and credit institutions, plus much more financial freedom than most citizens.

 

800 – 1000. Excellent score

800 - 1000. Excellent score

Congratulations on your fantastic credit score! You and one of the few that are part of this select group of Brazilians are leading the elite, at this point it is considered as + customer that special and the possibilities are limitless, the benefits are amazing.

Our Portal has numerous articles related to credit score and Score, take a look:

1. 7 Strategies to Boost Your Score and Credit Score
2. 3 Reasons To Have Credit Denied Even With Excellent Score
3. How To Increase Credit Score For Good Or Excellent
4. Personal loan without consulting the CPF and Score
5. Score: How Credit Score Works
6. Why Monitor Credit Score?
7. Credit History, Credit Score and Credit Score
8. Who can check your credit information in addition to you
9. How does credit score work, you know?
10. Credit Score – Clean Name But Can not Borrow?

Having a score above 625 means that your financial health seems to be in great shape, and will certainly guarantee excellent chances of accessing better offers and differentiated financial conditions. So take good care to always increase your Score and take your credit score seriously.

 

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