Debt Consolidation Care’s offers a number of ways for anyone in debt to find help. Community discussions, blogs, books and software are just a few ways to find help. If you’re in debt and don’t see a way out, stop by Debt Consolidation Care’s and find the help you’re looking for.

Gas prices seem always to be going up, and let’s face it. If you drive, you have to pay the asking price. Because there are federal minimums set as to how low gas merchants can go in their pricing, it’s more than likely that the gas in your area is the same price or very close, no matter what station you go to. Although you can probably go across town to buy gas that’s a few cents cheaper than the station or stations near you, you know it’s not worth the extra mileage (and gas) to do so.

So it’s fortunate that some leading credit card companies are now offering some relief for this problem. They have gone into partnership with gas companies to try to create a solution for consumers. Many now offer gas rebate credit cards; a few are the best gas rebate credit cards.

How Does It Work?

The best gas rebate credit cards have it set up so that cardholders get credited a certain percentage of the gas purchases they charge to their credit card. This is similar to most cash back rebate programs. However, most cash back rebate programs send out rebate checks once per year. By contrast, the best gas rebate credit cards give you credit each month, so that you can use your credit immediately.

Best Gas Rebate Credit Cards That Are Station-Specific

Most of the best gas rebate credit cards are affiliated with particular stations. If you are a frequent customer of a particular gas station, this might be the way to go and the best deal for your gas rebate card. By doing this, you can earn rebates of 3 to 5%, depending on the station. Oftentimes, these rebate rates only apply to gas purchases and not other sundry purchases you might make at a gas station, such as milk or bread, for example. However, some stations give you the same rates regardless of type of purchase.

Other purchases from places of business such as drugstores, supermarkets or restaurants, as well as other retailers, may earn you rebates of approximately 1%.

One of the best gas rebate credit cards that is also station-specific is the Chase BP Visa Rewards Card. This card has one of the best rates available, in that it pays 5% back on purchases made at Amoco BP stations. Travel and dining purchases also earn 2%.

Various “Generic” Best Gas Rebate Credit Cards

If you don’t frequent a particular “brand” of gas station all the time, such as Amoco, then the best card for you may be one that allows you to earn rebates at any station, anytime.

Many financial institutions now offer this type of rebate card. One of the best of these is the Chase PerfectCard Mastercard, which offers a 3% cash rebate on gas purchases. Perhaps an even better choice is the Discover Gas Card, which pays 5% rebates for the first $1,200 in gas purchases each year. Customers receive rebates back in the form of a check or gift card in $20 increments.

Using Cash Back Credit Cards as Gas Rebate Credit Cards

Most cash back credit cards are also the best gas rebate credit cards. Why? Because most cash back credit cards offer rebates of between 2% to 5% on all purchases made from drugstores, supermarkets and gas stations. Therefore, you don’t need a separate gas station-specific credit card to cash in on your purchases. You will also be able to qualify for cash back on more of your purchases, and therefore receive rebates much more quickly. For example, American Express‘ Blue Cash pays rebates of up to 5%, but you have to spend $6,500 per year first, before you receive your first rebate check. The Citi Dividend Platinum Select Card offers 2% rebates on gas purchases.

Some of the best gas rebate credit cards don’t charge you an annual fee, but interest rates on balances you carry are generally higher. Each of the gas rebate cards has its own restrictions. As an example, Blue Cash and the Discover Gas Card pay 5% in rebates, but you still must meet certain conditions in order to qualify.

When you shop around for the best gas rebate credit card, make sure you compare each carefully and do plenty of research. There are many options available on the market today, and it’s likely that one will fit you better than the other, depending on how you use it. There’s no need to settle for something less than the best gas rebate credit card for you.

To learn more about the gas rebate credit cards and where to find  The Best Gas Credit Card Review check out www.CreditCardMonitor.Org, leading provider of credit card information and reviews for consumers today.

Step 1 – Where do you stand?

If we don’t know what’s broke we can’t fix it.  The first order of business is to get a copy of your credit report.  There are plenty of places to get a free copy of you credit report. As a matter of fact the three companies have set up a central website, a toll-free telephone number, and a mailing address through which you can order your free annual report. To order, click on http://www.annualcreditreport.com, call 1-877-322-8228, or complete the Annual Credit Report Request Form and mail it to: Annual Credit Report Request Service, P.O. Box 105281, Atlanta, GA 30348-5281. 

Another route you can go is to sign up with a credit monitoring company like Experian Triple Advantage or Citi Credit Monitoring Service.  These services will provide you with a free copy of your credit report just for signing up for their 30 day free trial of their credit monitoring service.  I would suggest you sign up for one of the monitoring services while you are working on your so you can measure your progress. 

Step 2 – Pay your bills on time.

This probably should have been number 1 but we’ll leave it here.  The single most important thing you can do when it comes to repairing your credit is to make sure you pay all your bills on time.  Until you stop the downhill slide you can’t move forward. 

Step 3 – Look for mistakes.

Depending on who you talk to it’s estimated that 50% - 80% of the credit reports contain errors.  These errors can be simple or than can be complex and very costly.  The point is, we don’t want any mistakes on our credit report.  For example:  it’s possible that you have a credit account listed on your credit report that doesn’t belong to you.  What makes it worse is that this account could be in default and you’re stuck with the consequences. This is one of the simple errors to correct but if not corrected can cause you all kinds of problems. 

Step 4 – Report all mistakes.

Notify the credit reporting agency, in writing, the mistakes you found. Include copies (NOT originals) of all the documents that support your position. A good idea is to enclose a copy of your report with the mistakes circled. Make sure you send your packet by certified mail, “return receipt requested.” Keep a copy of all the information you disputed and all the documents you send to the credit bureaus. 

Step 5 – Follow up with the Credit Bureaus.

Continue to monitor your credit report and follow up with the credit reporting agencies to make sure that all errors are corrected.  If you can not resolve your issues with the individual credit bureaus there are other steps you can take.  For more information, see How to Dispute Credit Report Errors at ftc.gov/bcp/conline/edcams/credit/ . 

Those are the basic steps when it comes to credit repair.  There are some other advanced steps that I may cover in a later article. 

Another option you have to you is to hire a credit repair service or to order a do it yourself kit.  If you choose to hire a credit repair service then you can expect to pay and up front fee, (Set-up Fee), and then a monthly charge between $30 - $60 per month for as long as the process continues.  Don’t make the mistake and think that these companies are going to do everything for you, they don’t, they act as a counselor and help guide you through the process.  You still do all the legwork. 

If on the other hand you decide to purchase a Do-It-Yourself Credit Repair Kit you can expect to spend between $50 to $100 for the kit.  The good thing here is you get all the information the credit repair service has but it’s yours to keep.  Almost all of the credit repair kits out there contain sample letters to dispute errors, tracking sheets to track your progress and information on all the laws pertaining to consumer credit.  One last advantage these kits contain are advanced techniques on how to improve your credit score not just repair your credit. 

No matter what you decide, remember this is going to take time and you should be subscribed to a credit monitoring service while you’re working on your credit score. This way you can track your progress and make sure your efforts are paying off. 

I would not pay more the $15 a month for any credit monitoring service.  If you need help finding one, here are a couple I’ve used in the past and I was very happy with their service.  Visit: Credit Monitoring Service

The news report spoke about the new wave of Credit Piggy Backing, and how, as you might imagine, the banks and credit card issuers are none to happy about it.  Their take on this is that by doing this consumers are actually committing fraud. 

I’m not going to argue the pros and cons of this issue but there are a couple of things to take note of. 

First: It appears to me that the credit card issuers and banks are not going to stand by and allow consumers to take advantage of this loophole in the system.  I would expect to see some changes soon that would make this technique obsolete within the next 12 months or so. (The banks and credit card issuers aren’t going to lose money to long.) 

Secondly: The term fraud was brought up in this report, I’m not sure I would be too worried about that in the context of the news report.  But I would be concerned that if I were to pay someone to borrow their credit that I would be taken advantage of.  In this day and age you can bet there are people out their right now setting up programs to defraud individuals out of their hard earned money. 

Credit repair is just like any thing else, the best way to do it is to do it the right way.  It will take a little bit longer but the chances of you losing money are greatly reduced. 

Take a look at CreditCardMonitor.Org’s Credit Repair page and get your free copy of the “7 Credit Secrets” for free.

If your credit score, typically between 350 and 850, is lower than you would like it to be, there are steps you can take to improve your credit history. Learning the steps to improve your credit score and how to keep it up is easier than you think. With the plethora of consumers in debt these days, many are scrambling to find easy, quick ways to improve credit score. If you want to improve your credit score take a few simple steps such as: paying down your debt, reduce credit card charges, opening new credit card account, and avoid filing bankruptcy.

One of the newest methods out there is to borrow or rent someone else’s credit. Here is how it works:

Borrower A has a credit score in the 680 range and is trying to buy a house. The problem he has is that his credit history has a couple of little blemishes on it and his balance to credit available ratio is too high.

Borrower B has perfect credit, credit score in the 800 range, 6 credit cards, a auto loan, a mortgage and a small business line of credit. His balance to credit available ratio is very low. He has set himself apart from the vast majority of other consumers.

Borrower A rents or borrows a portion Borrower B’s credit history. Basically Borrower B puts Borrower A on one of his high limit credit cards. Borrower A doesn’t get a card and is not allowed to access the credit card account. So what’s the benefit to Borrower A you ask? As soon as Borrower A is put on Borrower B’s account Borrower A now has the new credit card on his history. He gets the benefit of a credit card with a long history of on time payments and his balance to credit available ratio has improved as well.

These two things will go a long way to help improve your credit score.

So what’s the down side? Two words: Identity Theft. If you want to rent or borrow someone’s credit history you’re going to be required to provide all you personal information to the person whose credit you’re borrowing. As with anything on the internet, if there’s a way for someone to exploit it then it will be exploited.

My advice is to stay away from Credit PiggyBacking and use more conventional methods to raise your credit score.

For information on credit repair or improving your credit score visit: CreditCardMonitor.Org/Credit Repair. While you’re there grab you FREE copy of “7 Credit Secrets”.

I have a lot of credit card debt and I would like to pay it off.  Every payday I try and make extra payments so that I can pay down my credit cards but just as soon as have some available balance I go out and buy more with my credit card.

A friend of mine suggested that I have my employer take out extra tax money out check every payday so that I’ll get a larger tax return at the end of the year.  My mother thinks it’s a good idea to buy a savings bond every payday and then at the end of the year cash them in and pay that towards my credit card bills.  What is your advice? 

You would be amazed at the number of people I talk to think along those lines.  So here is my advice: 

• First - The basic problem here is a lack of self control where it concerns your spending habits.  If you can not get a handle on that then really no other advice I give you is worth any thing.
• Second – I’m not a big fan of using Uncle Sam as a forced savings account.  Too many things can happen that might really require that money, so it’s better if you have some control over it.  My suggestion would be to open a savings account and have the money withheld by your employer and then deposited into that account.  If your employer can’t or isn’t willing to do that then most banks have something like a Christmas Club and will automatically deduct a certain amount of money from your checking account every month.

• Third – Saving Bonds are an ok idea but there is really no need for then and the interest you receive from them doesn’t amount to much.

• Fourth – Here we get to the meat and potatoes of your credit card situation.  CUT UP the Credit Cards you have right now.  If you NEED to buy something pay cash for it, if you don’t have the cash, don’t buy it.

• Fifth – Learn how to budget.  Get help if you need it from a trusted friend, if that’s not possible contact your local college and see if they have a class on budgeting.  You must learn how to budget your money if you’re to get out of debt.

• Last – One of the most effective ways to pay off a credit card fast is to transfer your high interest credit cards to a 0% interest balance transfer credit card.  If you go to this page, (Interest Rate Comparison), you will the effect of the various interest rates have on how quick you can pay off your credit card. 

I realize that most of that seemed common sense but when you’re stuck in that never ending maze of credit card debt it can seem impossible to get out.  Just remember to follow theses simple steps and you should be out of debt in no time.

Why is this?  Well it’s really quite simple, most if not all the things you need to do to repair your credit you can do so, it’s not just cheap credit repair but free credit repair. So why are there so many companies selling bad credit repair kits? 

I said it was free I didn’t say it was easy; it takes some effort and knowledge on your part.  The question is, where do you find that information.  If you have the time you can search the web and sort through all the facts and fiction on repairing your credit.  Another way is to buy a book or two on credit repair, these can be purchased at your local bookstore or over the internet. 

Another option is to purchase a Bad Credit Repair Kit.  These kits run any where from $29.99 to 99.99.  IF you’re going to purchase one of these cheap credit repair kits here is what you need to look for: 

• Step-By-Step system
• Sample letters you can send to your creditors
• Sample letters to send to the credit bureaus
• Directions on how to obtain you credit report free
• What to do if you’re the victim of identity theft
• Information on the different credit bureaus
• Longevity – use a program that has been around a long time, you know it works
  

You know we talk about repairing our credit but actually what we are doing is rebuilding our credit or if you’re just starting we’re actually building it.  We all have a credit score, some have a score of 600 or less while others have a credit score of 700 or more, the point is we want our credit score to be in the excellent range (generally 750+). 

So…we now have a goal to shoot for, time to start building our credit.

• Can I raise my credit score in a week?
• Do I need a professional to help me fix my credit?
• Is it true all I need to do is challenge negative info on my credit report and they will remove it?
• How long will negative information on my credit report remain there?
• Do I need to use credit to improve my credit score?
• What can I do to rebuild my credit?
  

So let’s jump right into this.

Can I raise my credit score in a week?

Probably not, your credit problems didn’t happen over night, so it stands to reason that they can’t be fixed overnight, (or in a week). But if you’re willing to do a little research and some work you can certainly improve in 90 days or so.

Do I need a professional to help me fix my credit?

I love this question. The answer is yes and no. In my opinion no you don’t, you can do a better job at repairing your credit than anyone else, all you need is the information on credit repair. Here is an inexpensive program that provides a ton of information on fixing your credit: “Credit Bible Secrets” (sign up for their free “7 Credit Secrets”)

Now the yes part of the answer. There are reputable companies that can help you repair your credit. The problem is the cost. Most people that are having credit problems don’t have the extra money to pay off their debts let alone pay someone to fix their credit report. Lexington Law - Credit Report Repair is a member of the BBB Online Reliability Program and offers a valuable service if you can afford it.

Is it true all I need to do is challenge negative info on my credit report and they will remove it?

Not exactly, some will tell you to just challenge all the negative items on your credit report and they’ll be removed. What this refers to is this, if you challenge negative information on your report, it’s the responsibility of who ever place the negative information in your credit file to prove that it’s valid.

Now this technique may work with some creditors and not others, it just depends on how well they kept records and whether or not it is worth their time to even mess with it.

How long will negative information on my credit report remain there?

Just about all negative information will remain on your credit report for seven years. Loans backed by the US government and student loans may stay on your credit report longer than seven years. Bankruptcies will normally stay on your credit report for ten years from the date of the last activity, usually the date you received your discharge. If a company request your credit report or credit score those request will normally stay on there for 2 years.

Do I need to use credit to improve my credit score?

In a word Yes, your credit score is determined by how well you manage your credit. If you do not use credit then there is no way to judge how well you manage it.

What can I do to rebuild my credit?

• First and foremost pay your bills on time.
• If you haven’t, get a copy of your credit report.
• If you have Bad Credit, apply from a bad credit credit card like the Imagine MasterCard
• If you credit report doesn’t show accounts you are paying on time send them a recent account statement.
• Make sure the credit bureaus have you correct residence and employment information
• Acquire a new credit card (carry a small balance on it ($100) and make regular payments)
  

That’s it for now….the best way to have great credit score is to take care of the credit you have now.

In 1877 the term “credit card” was first used by a lawyer and author named Edward Bellamy. Bellamy, a socialist, describes in his book, “Looking Backward 2000-1887,” how a well to do man from 1887 awakens to find himself in the year 2000 in what appears to be a socialist utopia.

In this utopia, every person was issued a yearly credit card by the government. On the front of the card was stamped a dollar amount that represented each person’s “share of the annual product of the nation.” The beauty of this was in its simplicity: no one ever needed to carry cash. If you needed to purchase something or pay your electric or gas bill you simply used your credit card. The amount of your purchase or payment would be deducted off your credit card, which was basically a transaction between you and the federal government.

Although we haven’t quite progressed to the point that Bellamy wrote about, we have made strides toward a cashless society. In the early 1900’s some of your more prestigious hotels started issuing charge or credit cards to their most influential guests. This allowed their guests to stay at the hotel multiple times during a month and then make one payment at the end of the month. As you might imagine, the wealthiest of the hotel’s clientele saw this as a major perk and the hotel saw an increase in business.

This was not lost on the department stores and gas stations. They were next to jump on the bandwagon. Each store or gas station chain started issuing their own credit cards to try to lure new business and increase sales. Consumers thought this was outstanding, but as we’ll see later, many people found themselves in a bit of a bind because of their new found pot of gold.

A few years later, around 1947, the railroads and airlines decided it was their turn to test the waters and soon most major airlines and rail companies were issuing credit cards in hope of generating more business. The consumers thought this was a wonderful idea. They now had a credit card for their department store purchases, to fill up at the pump and to buy their airline tickets.

So who was the first to really take advantage of the credit card industry? Most of you are probably too young to remember, but around 1950 Diners Club introduced a credit card that was accepted at more than one department store or gasoline chain. Diners Club was the pioneer of the credit cards you and I use today. The plan was really very simple: instead of providing a specific service for one company, Diners Club pulled together a group of restaurants and acted as the middleman between the customer and the restaurant. This worked out so well for Diners Club that they expanded into the travel and entertainment businesses as well. Soon, Diners Club was the card to have. Imitation is the sincerest form of flattery and in 1958 American Express decided they wanted a piece of the market. But unlike Diners Club American Express want to attract not just domestic customers but international travelers as well. So in addition to basic credit card services they decided to provide other services like secured traveler’s checks, mail and message exchange services, and even legal aid for their members. These additional services help American Express establish a strong customer base.

Another company that decided to get into the credit card business was Bank of America. They introduced a card that would become the Visa credit card as we know it today. In 1966 a group of banks got together to form MasterCharge. This was an effective way for travelers across the country to purchase goods and services without having to worry whether or not their check would be accepted.

But it wasn’t until the establishment of standards for the magnetic strip in 1970 that the credit card became part of the information age. With the magnetic strip came the ability to complete transactions very quickly. Because identifying information is stored on the credit card it became more efficient for merchants to approve transactions by verification through a credit card approver such as a bank or credit card company.

Today there is a type of credit card that fits just about every situation and every type of consumer or business. The following table list just a few types of credit cards available today:

• Visa
• MasterCard
• Gas Rebate Credit Cards
• Travel Rewards Credit Cards
• Student Credit Cards
• Business Credit Cards

The list goes on and on………..

As you can see we are not to far away from what Edward Bellamy describes in his book, “Looking Backward 2000-1887.” While we didn’t go the route where the government issued the credit cards and allocated how much we could charge, we have come a long way towards a cashless society.

There are many who debate the Pros & Cons of a cashless society and I may tackle that debate at a later date but one thing is certain, we are very close to a cashless society. Not to far off from what Edward Bellamy wrote about over 200 years ago.

For more interesting facts about credit cards, credit score or credit repair tactics visit CreditCardMonitor.Org.

If you’re like just about everybody else you probably feel the same way, my brother had no thoughts at all of credit repair. Then we got a copy of his credit report which also showed his credit score. It wasn’t that his credit score was all that bad it just wasn’t as good as it could have been.

What if I told you that by just doing a few simple things that you could raise your credit score 100 or more points? I know you’re thinking why, what’s the point?

You probably already know that your credit score has an impact on getting a home mortgage or car loan but what you probably don’t know is that it also has an impact on:

• how much you pay for insurance
• whether or you’re hired for that job you want
• the deposit you’re required for your cell phone
• and of course the interest rates you pay on all your credit

What my brother needed was a credit tune up not credit repair. With a few simple tricks we were able to increse his credit score from a fair credit rating to an excellent credit rating in just over 3 months.

Let’s take a look at how a change like this can impact your day to day life.

In this first example we are going to buy a home, (this is what my brother was doing), this house is going to cost us $100,000 and we’re going to apply for a fixed 30 year mortgage.

With an average credit score we can get a mortgage at 8.5% and with an excellent credit score we’ll get a rate of 6.5%. So what does that mean in dollars and cents?

• at 8.5% your payment will be $768.91 and you will pay a total of $176,808 in interest over 30 years
• at 6.5% your payment will be $632.07 and you will pay a total of $127,544 in interest over 30 years

A little simple math tells us that we’ll save $136.84 every month and after 30 years….we’ll save $49,264, thats almost half of the original $100,000 we borrowed.

What about our credit card rates? With your excellent credit score you can get a credit card with a rate of 8% or so, (we’ll talk about 0% balance transfer credit cards in another article), with average credit, your rate will be around 16%.

In this example we’ll say we carry a balance of $5000, I know some of you carry a higher balance while others a lower but $5000 is a pretty good average. So, lets take a look at the numbers:

• at 8% your fixed payment will be $125 and you will pay a total of $2192.71 in interest over 58 months.
• at 16% your fixed payment will be $125 and you will pay a total of $834.91 in interest over 47 months.

Again you see you’re paying $1357.80 more in interest for borrowing the same amount of money.

Like to know the difference between a credit card rate of 8% and a rate of 16%, (besides the obvious of 8%), less than 90 days worth of work tuning up your credit score.

There are many other examples I could list but I think the point is clear, all of us could spend a little time tuning up our credit score and save a lot of money.

If you still have questions go to: “7 Credit Secrets” it’s a free report on how to improve your credit score.