Tag Archives: Secured

Don’t Forget About Share Secured Lending!

It’s no secret that lending growth drives the credit union industry. With that in mind, it is important to zoom out and look at the bigger lending picture from time to time. When you do, you will discover that some forms of lending are not promoted as regularly as others. As a result, your members could be missing out on lending opportunities. Let’s take a closer look at one form that often gets overlooked. Your credit union should focus on share secured lending for two main reasons.

Two Member Benefits for Share Secured Lending

1. Share secured lending helps members. That’s right, this is a great way to help members who may not be able to qualify for traditional forms of lending. It’s a nice way to give them a fresh start. Your credit union is able to secure the loan with the members’ savings accounts. It’s a surety of payment for your credit union. Yet, the member sees the loan as an encouraging step of good faith. Share secured lending promotes trust and loyalty between the credit union and the member.

2. It is a great stepping stone. Usually, once a member pays off their share secured loan, they qualify for unsecured loan products. These may be the same types of financial products they just paid off, only this time they are able to get a better rate or better terms due to their improved credit history. This is a great confidence boost for members. A boost that would most likely not happen without offering a share secured loan.

Offer Share Secured Lending

Share secured lending can be either offered in installment loans or lines of credit, which are ideal for those members who are perhaps unable to obtain unsecured credit. After a share secured loan is paid off successfully, the next step can very often be to apply for those same products your credit union offer, but unsecured :-).

Of course, all of this translates back to more lending growth for your credit union. That growth is good for other things too, like member retention and new membership. Loyal members who formerly held share secured loans will love spreading the word, trumpeting to friends and family about how their credit union is the best place to get a clean financial start.

Our consumer lending package will help you deliver those loans with ease. Oak Tree has everything your credit union will need to offer your members a superior lending experience. As always, all of our forms are up to date with all state and federal regulations. As well, all of our forms will easily integrate with your data processor. If you haven’t taken a hard look at share secured lending before, after the holiday season is the perfect time to do so. Chat with us for consumer lending or home equity lending packages at www.OakTreeBiz.com.

Related Consumer Lending Articles

CREDIT CARDS FOR BAD CREDIT ֍ BEST SECURED CREDIT CARD

http://www.badcreditassistance.com/recommends-this-source-for-bad-credit-credit-cards

This video recommends one of the best secured credit cards. Capital Bank has consistently ranked as one of the best secured credit cards available, with lowest fees and start up cost. It functions exactly like a regular Visa Card and is accepted anywhere Visa is accepted. Your funds are held in a real 100% FDIC insured Bank.

Capital Bank Open Sky Secured Visa does reports your good payment history to all 3 major credit bureaus. This means that using the Capital Bank Secured Visa actually helps you start credit, or repair and rebuild your credit report.

Get More Free Credit Tips. Plus Choose A Free Credit Consultation At http://creditassist1.com
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Secured Credit Cards For Bad Credit Rebuilding, Apply Online At CreditCardBroker.com

Secured Credit Cards For Bad Credit Rebuilding, Apply Online At CreditCardBroker.com

Hello and Today you will learn about secured credit cards, how they can help, and where you can apply for one.

Courtesy of www.CreditCardBroker.com
Apply Online Here: http://www.creditcardbroker.com/secured-credit-cards/
Market Secured Cards / Join Affiliate Program: http://www.creditcardbroker.com/join/

Have you been refused a credit card in the past?
CreditCardBroker.com has a possible solution for you!
Apply for a secured credit card.

About Secured Cards:
-Designed for people who want to establish or build a credit history
– Give access to a credit line to use
-Payments report to major credit bureaus
-You typically need to deposit cash as collateral for your credit limit (commonly from 0 to 00)

About Secured Cards Continued:
-Most secured cards will have an annual fee, possibly other fees
-APR’s will be higher than an unsecured card
-Commonly your credit limit is what you deposit as collateral
-Be sure to read the terms and conditions

Typical requirements to obtain a secured card:
-You need the ability to make minimum payments so your income should be more than expenses.
-You need proper identification
-Past bankruptcies must be discharged

Tips once you get a secured card:

-Show the bank you can responsibly own a credit card!
-NEVER make a late payment
-Pay your bill on time each month
-Pay your balance in full OR pay more than your minimum payment each month.
-Never charge more than 10% of your total credit limit.

When applying for a secured card:

-Have your bank account information handy so you can deposit your money with the bank.
-Be sure to set 15 minutes aside to fill out the online application
-Have are your personal information handy
-Be sure it reports to all 3 credit bureaus

How long should I keep a secured credit card?
Keep your card active as long as possible. Closing an account can potentially reduce creditworthiness.

I was refused a secured card. Any other options?
-You do have other options.
-Ask a friend or family member if they can make you an “authorized user” on their account.
-There are no requirements to qualify and you will build a credit history with each on-time monthly payment. (Bank must be reporting)
-Get a cosigner.

About CreditCardBroker.com
CreditCardBroker.com is your online resource for credit cards, loans, merchant account, credit reports, and other financial products.
If you are interested in applying for a secured credit card, we have some offers for you to review on our website, CreditCardBroker.com!

Where can I apply for a secured credit card?

Visit: CreditCardBroker.com/secured cards and apply online today!
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Secured Credit Cards
Capital Bank – http://apply.creditcardbroker.com/aff_c?offer_id=31&aff_id=5074
First Progress – http://apply.creditcardbroker.com/aff_c?offer_id=128&aff_id=5074

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Secured Credit Cards
Capital Bank – http://apply.creditcardbroker.com/aff_c?offer_id=31&aff_id=5074
First Progress – http://apply.creditcardbroker.com/aff_c?offer_id=128&aff_id=5074

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Why Should You Bother With The Best Secured Credit Card Deal

You can’t stop noticing the number of advertisements for credit card offers these days. It can be enticing to sign up as they offer attractive rates and appealing incentives. So, why should you bother with a secured credit card deal?

In some cases, secured credit card may be useful. If the finance companies often reject your application, then you lose the prospect of getting one. Without credit report, you obviously find it almost impossible to secure a card. If the court declares you as an insolvent, what are your chances of getting one? As you can see, it boils down to your personal financial situation. Nevertheless, don’t let it refrain from obtaining a credit card. You can opt for secured credit cards in such circumstances.

So, how does it work? The financial providers will require you to pledge your saving account with at least 500 dollars as collateral. Some of them may require higher deposits. Your credit limit depends on the sum of saving you have. This means that the card issuers will give a full credit line according to your account balance. Should you default your payment, you will lose your saving. Therefore, to obtain a credit card, you must have a saving account or a certificate of deposit with a minimum of 500 dollars. You will feel more comfortable having a credit card this way without worrying about over spending.

Usually the finance companies don’t accept standard card application if you have bad credit. So the other option is to apply for secured credit cards. They assess your application only based on your savings and not your credit history.

Being a college student, you know that obtaining a credit card is challenging because you need to establish your credit. You can’t get a regular one if you cannot present your credit history report. Therefore, most college students normally choose secured credit cards that demand no credit report.

Bankruptcy can prevent you from getting a normal card. The ideal way is to apply for a secured credit card. It is easier to obtain approval compared to other kinds of cards.

To determine the best deals, you check the offers from Visa, MasterCard, American Express, and Discover on the Internet. Doing online research can give you with valuable information about their offers. However, not all the offers are the same. So, you need to evaluate their offers first before you submit your application. Here is a potential list of items you should consider.

1. What are their interest rates?
2. Do they charge any extra fees such as an application fee?
3. Do they report to the three credit reporting bureaus about your application?

The best secured credit card should meet all your needs. Ideally, choose those that come with low interest rates and without application fees. Make sure that the card issuers report to the credit reporting bureaus. This will upgrade your credit score in the future provided you pay on time. This will further help you with your application for regular cards.

You need time and effort in diligently investigating and comparing different types of secured credit card deals. Whether you are a bankrupt, a student or a poor credit paymaster, secured credit cards are better choices even though you have a limit on how you spend your money. Best of all, you have a better money management because of the restriction.

Do you want more articles on credit card deal such as balance transfer and consolidation? Andy Lim created a web site on credit card tips. For free information, please go to his credit card website.

Top Guidance On Secured Credit Cards To Rebuild Credit

Many people have developed financial problems in today’s economic times. If someone has run into these types of issues then they may want to get secured credit cards to rebuild credit. By doing this a person will continue to open opportunities for them to use a card and rebuild their score to where it should be.

With the financial crisis that much of the world has suffered through the past few years many people have had their credit negatively impacted. Missing a few payments or having property repossessed or foreclosed is something that has happened to various consumers. All of these types of items will damage someone’s credit and make it difficult or impossible to get a card as new lenders are not willing to take a chance with them.

By getting a secured card an individual would still have the financial freedom of having a card to use but will also be working towards repairing their score. Having a card is important to be able to purchase products online or renting a car when away from home.

A secured card functions in the same way as a regular card. It is not fully financed by a bank however. The individual that is using the secured card will deposit money when the account is opened and that deposit will count as a percentage towards the spending limit on the card. The card percentage may range from 50% to 100% of the deposit, so a $ 400 deposit will make a limit in the range of $ 200 to $ 400 depending on the rules of the bank. The money is used as a security deposit in case the person that the card is issued to does not make their minimum payments on their account.

One of the main issues with the convenience of cards is that there are fees to use the card. A secured card is no different from a regular card in that sense. When applying for a secure card someone should always look at the list of fees that are involved with the card. There will be applications fees, processing fees, and annual fees involved with most cards. It is vitally important to monitor these fees because they will have an impact on the spending limit of the card since the money will be subtracted from the initial deposit.

An individual should verify that the financial institution they are attempting to do business with reports to the major scoring bureaus. By having the transactions on this card reported then someone’s score will be greatly improved by the responsible use of this card. Since this card is being used to rebuild their score it is important to always pay at least the minimum payment early or on-time.

Someone may have the chance to get an unsecured card with the same bank if they consistently make their scheduled payments on the secure card. There is an opportunity that another bank may issue an unsecured card to the individual if the present bank will not do it. Continuing to make on-time payments for at least six more months would be important for anyone that cannot find a financial institution to issue another card.

Someone that has financial issues may look to secured credit cards to rebuild credit. Getting this kind of card will assist an individual as they rebuild their score while still having the freedom that a card offers.

Get the low down on the best secured credit cards to rebuild credit now in our comprehensive overview of everything you need to know about a good credit score .

Find More Rebuild Credit Articles

Discover it Secured Credit Card – build your credit history

Discover it Secured Credit Card - build your credit history

The new Discover it® Secured Credit Card is here! And it can help you build or rebuild credit with responsible use, all with cash rewards on every purchase.

The Discover it Secured Card is a real credit card, not a prepaid or debit card. So using it helps build a credit history with the three major credit bureaus. Generally, prepaid cards and debit cards can’t do that.

It’s easy to get started. Just apply and provide a security deposit. Your credit line will equal your deposit amount, up to the amount we can approve. Then use your card, pay on time each month and enjoy all your Discover it benefits.

Get started today at Discover.com/secured.

What You Ought To Know About Secured Charge Cards & Building Credit

Movie Rating: / 5

Welcome to my MissBeHelpful station!

Inside video, I share some tips to support rebuilding credit or establishing credit from scrape.

Here are two secured credit cards that we explore into the movie and highly recommend:

https://application1.capitalone.com/icoreapp/jsp/application.faces?s=0013334008000XXCO31XX1ZZZZZZZZXXZAFF01ZZZZZZZZZZZZZZ&IARC=AFF&external_id=CJA_ZZ12050284_USCCJ_K3842381_fdb8b7140959166c

https://www.discovercard.com/application/applynow?execution=e1s1

Much more from MissBeHelpful:
My INITIAL video (AWWW): https://www.youtube.com/watch?v=SO-xx4acDEM&t=206s
How to Enhance Your Credit History QUICK: https://www.youtube.com/watch?v=QX3JZeEVgBM
Typical Credit Card Myths: https://www.youtube.com/watch?v=RFPeyxmMbo4&t=4s
Budgeting Rules: https://www.youtube.com/watch?v=_au8Vm66xTs&t=9s
The way I Save Half My Earnings: https://www.youtube.com/watch?v=swaKg2PmSJI&t=1s
Why You Need to begin Retirement Saving within 20’s: https://www.youtube.com/watch?v=T9P2Fp-hb3I&t=13s
5 Things to Consider whenever Applying for brand new charge cards: https://www.youtube.com/watch?v=iXowOnl0Wrc&t=86s
Credit Card Rewards… Do’s and Dont’s: https://www.youtube.com/watch?v=vYAZQBYcijs&t=1s
Get and Professional at learning You charge card report: https://www.youtube.com/watch?v=EsCuSODsRnY&t=8s
Best Apps to truly save for pension with a ROTH IRA: https://www.youtube.com/watch?v=mwiUPkBI-1Q&t=27s
Ideal Brand New Option To Improve Credit – No Charge Card Involved: https://www.youtube.com/watch?v=6b9eMsb7K8U&t=1s
Exactly how Trump Can Affect Your Finances: https://www.youtube.com/watch?v=S0Sv6-lXJhY&t=4s
How I make use of the Grace stage in order to prevent repaying interest: https://www.youtube.com/watch?v=crUU0teDcH0&t=32s

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