Credit Cards For Less Than Perfect Credit

Northwest WorldPerks to Combine w/ Delta Skymiles

May 11, 2009 – 3:45 pm

Changes are coming for all Northwest WorldPerks Visa cardholders. With the merger of Delta and Northwest, both frequent flyer programs will be integreated into the SkyMiles airline loyalty program, now exclusively provided by American Express (previously managed by U.S. Bank). For Northwest WorldPerks cardholders, American Express says they will be allowed to keep the miles they’ve earned; however, to earn additional miles they will need to apply for a Delta SkyMiles credit card.

AMEX is launching a marketing blitz to tell cardholders what it would mean to be an American Express card holder — exclusive benefits that come with earning reward miles directly through Delta, the world’s largest airline operator. According to David Rabkin, Vice President at American Express, the issuer is offering “rich incentives” to encourage people to switch. For example, sign up for the Gold Delta SkyMiles Credit Card and get a 25,000 bonus miles and have the annual fee waived for the first year.

Northwest’s agreement with U.S. Bank requires the bank to issue WorldPerks Visa cards to customers until August 22. U.S. Bank will be offering its own independent card, the U.S. Bank FlexPerks Travel Rewards Visa card, with unique benefits. John Owens, a U.S. Bank senior vice president, says the new card will be marketed to customers offering greater flexibility and more opportunities to earn points. U.S. Bank FlexPerks Visa cardholders can redeem as few as 20,000 points for airline tickets on more than 150 airlines, including Northwest and Delta, though the new U.S. Bank card won’t be affiliated with those airlines. For that point total, cardholders will be limited to a ticket valued at up to $400.

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Epay Inc. now offers the first int. debit card payout service with 0 conversion fee.

May 10, 2009 – 8:43 am

Panama City, April 28, 2009 ” EPAY Inc, in cooperation with prime MasterCard issuer, has finally created the program allowing global companies to conduct payroll transfers through EPAY debit cards with NO FOREIGN EX. CONVERSION fee. This was announced recently by EPAY Inc., a Panama-based corporation engaged in financial solutions, payroll services, e-wallet services, money transfer services, e-payments processing, prepaid credit cards issuance, and other related activities.

www.epayarea.com representative said that any company worldwide can now utilize EPAY Inc. services starting from as low as $4.99 per card and make payouts to its workers, affiliates, clients etc. through EPAY Inc. prepaid Mastercards with high USD 10,000 monthly limit per prepaid card.

This new program saves users at least 3% in all transactions to each cardholder. EPAY Inc. is the first to release such lucrative program that has services being offered world wide. The card program is ideal for international cardholders. There are no competitors for EPAY Inc. in the international market, as others are US card issuers, and they are allowed to work only with US residents due to US legislation. There are also UK card providers who are also limited to UK residents due to UK legislation. Lots of providers recently have lost their licenses violating these regulations and thousands of cardholders of those providers lost their money. EPAY Inc is the only provider allowed to provide this service to international cardholders on a fully legal contractual basis, EPAY Inc. representative also said.

EPAY Inc. website clearly states their clients protection program: EPAY Inc. members funds are completely protected because they are stored in strong banks and protected from any claims, including creditors claims. EPAY Inc. does not provide investment services and does not invest members funds at any time during remittance. Online transactions conducted through www.epayarea.com are backed by a US$ 1,000,000 warranty.

EPAY Inc. prepaid credit cards can be used by European, Asian, American, Pacific and other companies to meet various companies needs such as:

- Dividend, Incentive, Forex payouts ” Employers, Contract Agencies,

- Membership based affiliate applications i.e. Credit Unions, Banks with an existing account holder base

- Loans and micro loans, Remittance Payout Applications

- Insurance payout transactions, Pension payout plans

- Commission based services ” Network Marketing Organizations (MLM), Affiliate companies

- Tourism and Travel, Remittance Transactions Card Schemes

- Gas stations, Telecommunications, TV companies, stores, supermarkets

- Gaming: casino websites, online poker websites, waging and sports betting, etc.

- Services: phones, insurance, various utilities etc.

EPAY Inc. prepaid credit cards can be used anywhere in ATMs, POS and online, as well as for verifying and adding to online accounts (paypal, ebay, google adwords, alertpay, moneybookers, neteller, etc) for funding/withdrawal. worldwide cardholders are accepted.

EPAY Inc. card payout service can be used by corporations from any region, any business model and any size. No matter whether a company needs 5 or 100,000 cards ” EPAY Inc. will provide prepaid credit cards and servicing on the best level. For those corporations who wish to have their company name, logo or even fully branded design on their cards, EPAY Inc. will develop:

- Generic Debit Card Payout Program

- Co-Branded Debit Card Payout Program

- White Label Program

- Co-Branded Prepaid Credit Card Payout Program

- Generic Prepaid Credit Card Program

- Branded Payout MasterCard Program

- Embossed or unembossed program.

Epayarea.com prepaid card is highly beneficial for cardholders. We are the first to provide one card that can be used anywhere through millions of ATMs, POS and even online transactions all over the world. Our cardholders can also enjoy the benefits of high daily/monthly limits with the safety of our strong fraud and scam monitoring system, Epayarea.com source stated.

www.epayarea.com platform is currently used by over 41,000 members to date. The EPAY Inc. prepaid Mastercards may be used as debit cards, payroll cards, and loyalty cards all rolled into one. Banks, credit unions and other financial institutions are welcome for cooperation. For more details, interested parties are encouraged to contact by email at business@epayarea.com or check their website at www.epayarea.com.

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Visa Black Card Secrets Revealed

May 7, 2009 – 2:29 pm

The Visa Black Card is the latest entrant in the prestigious credit card market category and has created a lot of buzz in the industry. Is it just another luxury card with prohibitively high annual fees? Or do the benefits of the new Visa Black Card justify its expense? Read on to find out more and how to get a Visa Black Card of your own!

To begin with, this particular card will get you noticed anytime, anywhere. The card itself is so unique that you can’t help stealing a look. The Visa Black credit card is not made from plastic like every other credit card in the market. Instead, it is made of carbon! Carrying the card itself is a unique experience. It is a very limited and highly exclusive membership. This card is targeted at the top 1% of Americans, with great income and high status. You can be sure, that you will have onlookers gaping as soon as flash it. Imagine the doors this can open at restaurants and clubs for you!

Luxury Benefits
You are likely to assume that a luxury card of the highest order will come with a gamut of unheard of benefits. And, you would be right! With your Visa Black Credit Card, you can expect to receive luxury gifts from some of the top brands in the industry. You also get benefits like Travel Lounge Priority Pass, the largest airport VIP lounge program, which gives you access to more than 500 luxury airport lounges across the world… now you can wait for your flight in style with a free glass of champagne in your hand!  You also get access to a 24-hour Concierge service that you can use for entertainment planning, country/city information, travel arrangements, gift arrangements and business as well as personal services. You can also use this Concierge to get specialty services like finding rare and unusual items, finding unusual services, etc.

Other Benefits
There are many benefits to simply using your Visa Black credit card. By using your Visa Black card to purchase your travel tickets, you automatically become eligible for:

• $250,000 Travel Insurance
• $300 Baggage Delay Insurance
• Auto Rental Collision Damage Waiver
• $1500 Trip Interruption/Cancellation Insurance

When you shop with your Visa Black Credit Card, you automatically qualify for Purchase Security as well as Warranty Manager.

Visa Black Card Application
The criteria for approval for the Visa Black Credit Card are bound to be stringent. Not only is the Visa Black credit card a luxury card, it is also targeted to a very specific niche group. Not all specifications for approval are released so far, but we do know some of the requirements for Visa Black Card application. They are:

• You have to be a US resident and have a Social security Number
• You have to have a great credit score
• You are able to pay the annual fee of $495

Do you think you make the cut?  If so,

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New FICO Credit Scoring System in ‘09

May 7, 2009 – 6:50 am

Fair Isaac Corporation, developer of the formula that determines your FICO score, is presenting a new model with TransUnion, one of the three major credit agencies, dubbed FICO 08. The new formula comes almost a decade since Fair Isaac changed the formula and at a time when more lenders have criticized FICO’s ability to predict defaults as they continue to deal with falling housing prices and the subprime mortgage crisis. Equifax is expected to follow in the second quarter, while Experian is not commenting due to pending litigation.

With 90% of U.S. banks using the FICO scoring system, many things will remain unchanged, including the importance of timely payments, length of credit history, amount of debt and a scoring range of 300 to 850. The new system will provide a more thorough analysis of subprime borrowers and those with fresh credit histories, do a better job of predicting defaults and be more forgiving of one-time missteps. However, repeat offenders will be dealt with more harshly.

FICO 08 will continue to factor in account activity of authorized users, as well. Additionally, FICO 08 will give more points to consumers who maintain multiple lines of credit, such as a credit card, auto loan and home loan, while penalizing more heavily those people who use a higher percentage of their available credit. Overall, Fair Isaac predicts the new system will improve the accuracy of lending decisions by as much as 15%.

Fair Isaac originally planned to exclude authorized users to curtail abuse by “credit repair” services that offer a boost to people with poor credit. Also known as “piggybacking”, a person can be added as an authorized user on an account held by a complete stranger with better credit to improve their FICO score. The new model will still help legitimate authorized users improve their credit score, but it will provide added security to protect lenders from people who are attempting to cheat the scoring system.

“More consumers with accounts in good standing should also see their scores increase slightly,” says Tom Quinn, vice president of global scoring solutions at Fair Isaac. “What we’re seeing in all of our analysis is that the model is doing what it’s supposed to do, which is to rank-order risk,” says Mr. Quinn.

Investors should take note of Fair Isaac’s changes in the scoring system and expect to see it go into effect in the coming months as the major credit reporting agencies adopt it. But it may take awhile for the changes to be noticed or for consumers to see where they fall in the new system and possibly years before the score is widely available to consumers.

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How to become a successful Mortgage Broker

May 6, 2009 – 10:05 pm

Who is a Mortgage Broker?

Any person who acts as a middle man between the lender and the borrower is called broker. Where a mortgage transaction is involved he is called a mortgage broker. He helps in bridging the technical requirements of the lending institution with the requirements of a borrower.

Role of a Mortgage Broker

The role of a mortgage broker is critical in closing any loan transaction. He strives on the commission he receives on every loan transaction closed by him. It is a career option which in reality does not require any formal schooling, but offers a six figure salaries.

An individual who can understand the technicalities of a given transaction and translate the same in layman terms to the prospective customer helps him reduce the gap and support the growth of business.

How to Become a Successful Mortgage Broker?

A person should have the aptitude and skill to succeed in this career line. A Mortgage Broker should specialize the following skills in order be successful.

Selling Tactics and Communication Skill – This business is all about dealing with people. You will meet different kinds of people and hence it becomes important that you make them feel comfortable and relate their queries with appropriate answers. Any experience in this field in certainly helpful though it is not a compulsory pre requisite.

Understand the Loan Process – Whether you proceed convincing your client or in the process of expanding your business contact, you should be good at what you propagate. Gaining a thorough understanding of the loan application, evaluation and granting procedures together with critical analysis is essential to suggest the best option to the client, considering their various requirements.

Specialized Marketing Techniques – Effective marketing techniques place your business in the right stream of business, attracting the most prospective and effective customers. Right marketing strategy has the ability to turn your business into one of the most profitable given the deployment of proper time and strategy to propagate among the rightful choice of people.

Development and Growth – Mortgage brokering is indeed a stepping stone to further areas of business expansion at a higher and a more profitable level. Purchases of second mortgages, real estate investment are certain examples of business opportunities in this field.

Wealth Creation – This industry offers you the platform for wealth creation provided you are good at what you to, understanding and exploring the various areas of mortgaging loan industry.

Required Skills – Skills such as mathematical calculations, computing skills, people management skills, ability to speak more than one language, banking skills help you fair better in your career.

Flexible Working Hours – The broker should be able to work late shifts, during weekends, respond to the urgency of customers and multi task with several clients at a time.

Brokers are not Bankers – A banker lends money from his own institution, while a broker initiates a loan transaction between a lending bank and a customer.

Licensing Requirements – Procure appropriate licensing for your brokerage business and ensure you work for licensed business houses.

If you consider choosing broking business, these hints and details are sure to come handy.

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