Credit Problems and Poor Credit Can Affect Your Entire Life

Poor credit means more than not being able to get that fancy Jag you always wanted. As a stay at home mom, it is more serious than paying more for auto insurance, or not qualifying for a preferred rate on a loan.

Bad credit can affect every aspect of your life, from your living arrangements to your job to your family. Thats because the credit system was originally built on trust, and once you break that trust it can be a long hard road back to financial security.

You can hurt your credit in many different ways; by paying bills late, or defaulting on loans, or having a car repossessed or a home foreclosed on. Unpaid medical bills, early termination fees on mobile phone or satellite television services, all of these and many other factors can adversely affect your credit standing.

If you have poor or bad credit, you wont be able to get a reasonable rate on a car or home loan - assuming a bank will give you one at all. You might even have trouble qualifying for an apartment or house to rent, and some companies (particularly ones in the high end retail, finance or business arenas) reserve the right to deny employment based on an adverse credit score.

The assumption is that if you cant honor your commitments, you arent to be trusted, and this can hurt you in other areas of your life as well. If you are a stay at home mom, how do you explain to your children why people keep calling on the phone and knocking on your door?

Children are quick to spot a lie, and even quicker to see hypocrisy - and if you cant keep your promises, how can you teach them what it is important? Ethical and religious concerns can come into play here, as well, resulting in an enormous burden of guilt.

The best thing to do is be honest. Explain that you made a mistake, and it will take time to fix, but you are going to try to make up for what you did wrong. They can see how unhappy you are, and you can use this opportunity to come up with ways to save money as a family and get out of debt.

Learning how to manage your money and teaching your children by example may take time, but it will pay off as you start to raise yourself out of debt one month at a time. Your children will learn from watching you and be better able to implement these lessons in their own lives from the beginning.

The stigma attached to debt can drag you down into depression and cause severe damage to your self esteem. Dont despair - you can be debt free if you put your whole heart into the effort.

Trying to dig your way out of the quagmire may seem impossible, but with hard work and conscientious attention to every single penny that goes through your hands, you can rebuild your credit and regain your dignity as well as financial stability.

Author: Rayven Perkins has been a stay at home mom, surviving on one income, for over 8 years. Visit her site www.stay-a-stay-at-home-mom.com/poor-credit.html for more important information about the pitfalls of poor credit and ways to reduce your expenses.

Find Out The Top Benefits Of A Credit Card

Master Or Visa Cards: The Better Options

Master and visa cards are premium credit cards that can offer premium kind of benefits to the user.

A credit card is small kind of a plastic card that contains valuable information such as a picture or a signature of the user authorizes him/her to make purchases up to the sanctioned credit limit and the billing has then to be done periodically. In a credit card, the repayment is normally done after thirty days to forty days from the date of a product or a service purchase by the user.

A person can avail a credit card with the help of post, by sending an email or by making a simple phone call. Credit cards like master and visa cards are now offered with a high amount of fabulous gifts, lucrative discounts, and amazing voucher options.

Visa Card and Master Cards are special kind of credit cards that are simply methods of making payments. Master and the visa card are not card issuers but they try to establish payment systems at different merchant locations throughout the world but have never issued any kind of credit cards themselves.

Master and Visa Card have set up business relationships with merchant companies all over the world with the help of which customers can take the help of credit cards for shopping and also making any other payments like restaurant and hotel bills. These credit companies take the help of banks and financial institutions who are the ones responsible for actually issuing credit cards to the customers.

Master and Visa Cards make the payments to the merchant companies where the cards are issued and they also take payments from a company that actually issued the credit card to the customer a special fee for making the payments on their behalf. The card issuing company charges a fee from the merchant like Master and Visa for issuing the card, an annual rental fees for the card and a special amount of interest on the amount of money that had to be paid out to the merchant company.

The credit card companies are actually paid by the Master Card or the Visa Company and they in turn send the bills to the actual card holder. The credit card holder is lucky enough to never make any payments or cash directly to the Master Card or the Visa Company. With the help of a master or a visa card, one can enjoy a discounted favored access to the sole and thrilling opportunities in entertainment, theater and dining, indulgent spa experience and also private shopping experiences in malls.

One can also have an access to the by-invitation-only special film previews, premieres and parties when you get hold of a World MasterCard.

Cardholders whose standing and money are endangered by an ID theft can take the help of advisory services of master and visa credit card companies. In the case of a credit card theft, one can also take the help of administrative tasks to correct the situation of a credit card theft and prevent any kind of damages.

In case if one ensures that he/she has subscribed to a master or a visa card, they can get access to services like full coverage of legal costs as well as other litigation costs which can occur in the event of a credit card theft.

Author: Raffick Marday is author of this article on Free charges on pay as you go credit card. Find more information about Why get a prepaid debit card here.