In the latest Wealth Workout we look at how the newest cashback credit card measures up. 
Petrol prices have increased by 20p a litre in the last year alone – so wouldn’t it be nice if someone gave you cash back on essential fuel bills? Now the AA is doing just that with its new AA Reward Plus credit card.
Previously only for AA customers, the breakdown company is now letting anyone apply for its rewards card, which gives you 3pc cashback on fuel spending.
We look at how it stacks up against other cashback cards.
AA offers rewards to all
The AA Reward Plus credit card offers 3pc cashback on fuel purchases and 0.5pc cashback on all other spending but, until this week, was available only to AA members. <
Read more…
Tips for Requesting Mortgage Modification
The previous page covered the basics of loan modification programs. Heres what you need to know about requesting a mortgage modification. Tips for Asking
To make the process smoother, be prepared when you request a mortgage modification. The bank will want evidence that you cannot make payments. Gather the following items:
* Monthly income, and detail of where it comes from * Monthly expenses, broken down by category (mortgage, food, transportation, etc) * Paystubs * Bank statements * Loan statements and agreements
If you present a snapshot of your financial situation, the bank can make a decision on your mortgage modification more easily.
Read more…
American Express is offering new Preferred Rewards Gold Cardmembers the opportunity of making their everyday spending take them further with Tripflex – a brand new feature that uses reward points earned on everyday purchases to pay for virtually any travel related spending. As well as being able to redeem Membership Reward points for a range of luxury gifts and experiences, from today, new Cardmembers will be able to directly offset MR points against the cost of hotels, flights, rail travel and cruises paid for on their Card.
To make their journeys even more pleasurable, Cardmembers will also receive two complimentary visits every year to any of 350+ airport lounges around the world and will be given the first three months of their Cardmembership for free – a saving of £32. I
Read more…
These days your credit score must be above 720/740 to qualify as a good credit score. A good credit score is a good thing to have not just so you can get your applications approved, but also so you get a low interest rate when you’re approved.
Credit applications aren’t the only time your credit score comes into play. Insurance companies also use a version of your credit score to price your premiums. Learn more about the benefits of having a good credit score.
If you already have a good score, do what it takes to maintain it (hint: pay your bills on time and don’t borrow too much). To improve a bad credit score, spend a few months on credit repair tactics, like disputing errors and paying off past due accounts.
Decoupled debit cards are a relatively recent financial innovation, but because of the Durbin Amendment, these consumer-friendly products are on their way out. Normally, a consumer has a debit card linked to his or her checking account–a third party can handle payments processing, “decoupling” the debit card from the corresponding bank account.
For example, a customer can have a checking account at Bank X that doesn’t have a debit rewards program. Another payments company, Y Payments, can insert itself between the customer and Bank X. When the customer pays for a transaction, Y Payments pays the merchant and pockets the debit interchange fee.
Bank X then deducts the funds from the customer’s checking account and pays Y Payments over the ACH network. Y Payment
Read more…
Britain’s leading credit card provider has wasted no time in launching a new card to counter Virgin’s 13/13 card, which we wrote about last week.
By Emma Wall
12:29PM BST 28 Jun 2011
Meanwhile, a building society has launched a new range of tax-free family savings products promising to plug the gap left by the Child Trust Fund, which the Government has scrapped.
Though the Coalition itself has already offered up Junior Isas as a way for families to save for children tax-free, Scottish Friendly said it had gone one step further and would allow families to invest up to £25 a month tax-free on top of their Junior Isa allowances.
Read more…
It’ll come as no surprise to the majority of people reading this article that being unable to maintain your current debt obligations can have a disastrous effect on your credit report.
For, no sooner than the first missed payment is recorded, your credit worthiness takes a tumble, making it very difficult to borrow money. This is because credit reports provide all lenders with the details of a borrower’s most recent credit history, which, in turn, enables them to assess the risks they face in lending that person money.
So when somebody has the misfortune to need assistance with their debt repayments, the credit report will highlight the increased risk to lenders that this event poses.
Read more…
An IVA is a formal debt solution for people living in England, Wales and Northern Ireland. Often used as an alternative to bankruptcy an IVA, or Individual Voluntary Arrangement to give it its full title, is a private arrangement between the applicant and his creditors. The new arrangement replaces the previous repayment for all the applicant’s unsecured debt with a new affordable one, often saving the applicant more than half of his normal contributions.
Similar to the concept of a consolidation loan, the IVA has a fixed repayment period, during which the creditors relinquish the right to take legal action against the applicant should they become dissatisfied with the size of his repayments.
Read more…
Before you decide to apply for bad credit auto loans, it is very important that you get acquainted with the basic facts so as to enable you get on well with this type. When you are about to do something anywhere or whichever thing it may be, you must admit the fact that you must have the basic information relating to it at your finger tips. You will only get to understand better these loans only if you have some facts regarding them.
Bad credit auto loans are usually given to those individuals who have a bad credit score hence the name bad credit. You can be among such people who are poor in credit score if you default loans and other lend money or things. This way, your trustworthy gets compromised alongside your credit worthy.
Read more…
