By: Andrea Domini
Yesterday all the shares of the leading companies fell down at the stock markets from East to West. The fall started at the Asian markets – in Japan, China, Singapore and some others. Some European countries also experienced a considerable fall of their indices. Russian stock brokers recorded the indices fall of the top systems like RTS and the Moscow Central Stock exchange.
All that is caused by the US economic crisis that threatens to undermine the global economy as well.
Trying to stabilize the situation President Bush suggested reducing the taxes to prevent a prolonged crisis in the USA. The calculations of the authorities are simple – the tax relief must trigger the rise of the consumer activity. The US government assures the world that there are no reasons for worry as they will do their best to prevent the economic recession.
Meanwhile the world's stock markets do not believe that and the main indices are swooping down. Moreover, in spite of the President's assurance, the US building volume has already reduced by 14 %. The financial analysts admit that the US economy has not survived such a fall since the middle of the last century.
It means that, like it or not, quite soon we may face a deep economic crisis in the USA that will inevitable entail the financial collapse of the global economy.
Experienced economists admit that Americans have been living beyond their means for a long time and this cannot last forever. Sooner or later, this will have serious consequences both for the country's economy and the common citizens.
The mortgage crisis in the USA is already one of the results of the consumers' loans which they are in no condition to pay off. What will be with this industry if the rates will rise? Will then credit users be able to cope with their mortgage being insolvent?
It's worth mentioning that a lot of creditors suffer losses on bad mortgage loans given to people with bad credit. After changing the refinance rate, banks had to sell the borrowers' property out. As a result, real estate is falling in price.
The losses have exhausted the banks' funds and they are forced to look for additional sources. The economic slowdown brings credit cards as a source of income into question.
Still, banks and financial institutions are the regulators of the economy, and they will probably give loans to businesses and other consumers to recover it. As a result, the Federal Reserve is going to lower the Fed Rate by 0.75%.
As for the common credit users, they can hope for lower rates though they will be compensated by higher commissions. In the nearest future we can expect the Federal Rate to enable US consumers to take more loans. Thus, you have all the chances to take advantage of the opportunity. It's sensible to apply for a plastic with low APR and fees. Think of applying for a credit card now, if you credit rating is higher than average.
About the Author:
Andrea Domini works for Credit-card-analyzer.com. She is famous in financial circles for her articles and news concerning bad credit card deals
, however she is a versatile person and she majors in all credit card deals.
2008/01/27
Are There Any Advantages of the Stock Market Fall?
Proven Ways To Pay Less For Your Insurance Policies
By Chimezirim Chinecherem Odimba
There are many steps you can take to ensure you drive your insurance budget down. That is, without downgrading the quality of coverage you get for either your home, health, auto and life insurance policies. Let's look at a few ways you could save considerably...
1. Your health insurance plan may already offer you up to two free visits to a doctor for medical check ups. In case you want to know why this leads to lower health insurance rates, here it is...
It results in savings because the cost of dealing with ailments in their early stages is much less than treating full blown health conditions. And, anything that makes your health insurance provider spend less on you makes your rates more affordable.
2. People with excess weight get more expensive life and health insurance rates than people with normal weights. Your BMI or Body Mass Index is a very useful factor used to define your risk to an insurer.
The higher a person's BMI rating, the more expensive their health and life insurance rates will be. When your Body Mass Index rating is high it simply means that your weight is too much for your height. Put more effort into shedding excess weight because losing as little as a few pounds could give you another Body Mass Index rating and result in more affordable rates.
3. Knowledge will determine what you can save. Knowing what's in your best interest helps you choose rightly. In addition, you'll also be more prepared to take advantage of opportunities as they come.
You can get useful information by reading consumer guides, visiting sites by insurance experts and taking advantage of your state's department of insurance.
4. Deciding to be flexible in the choice of doctors and health care facilities you can use will lead to a reduction in your health insurance cost. Your favorite doctor or hospital may not belong to the network that attracts great health insurance rates. That may imply that you'll have to wave goodbye to your favorite doctor.
If you consider this to be too much for you to give up then you can forget about lowering your health insurance rate this way. But in your flexibility don't compromise your health for anything.
5. An excellent credit rating will help keep your rates down for all insurance policies. Having a poor credit rating is simply making hard for yourself in addition to the fact that your premium will be much higher. For some insurers it is a pattern they believe you might repeat with them in premium defaults. This perception of increased risk makes such individuals get very high rates for insurance policies.
6. Get and compare quotes. Visit a minimum of five of such for the best results. It's free, quick and easy. You can get quotes that will have a range in excess of $2,000. You could quickly save so much by simply picking the lowest quote. And, you should understand that because the likelihood of getting cheaper quotes is tied to the number of quotes you obtain, the more insurers you get quotes from, the higher your chances.
Here are great pages for insurance quotes...
InsureMe Home And Auto Insurance Quotes
Publishers can get unique versions of my articles by following any of the links above. Click on "To Use My Articles" when you get to my site.
Chimezirim Odimba writes on insurance.
Article Source: http://EzineArticles.com/?expert=Chimezirim_Chinecherem_Odimba
2008/01/20
How Can I Shop & Save Money?
Nicholas Tan
You have long known the credit card. It is said to be your ultimate gear when you go shopping. The plastic can even be a best friend to a happy shopper.
Considering the times nowadays, this plastic seems to be the least practical option out there. It is actually the most convenient tool used for consumption when you are out of cash. It lures you to spend.
Is there anyway for your credit card to be useful for your saving endeavors?
Yes, actually there are ways that the plastic can be helpful. You CAN actually save money with that credit card.
0% Balance Transfers
If your present credit card has high interests, you can transfer your balance to one with a low-interest or no-interest at all. It can offer you a 0% interest for a certain period and then a lower regular rate later on. A 19% interest rate can be transferred to one with 16.1%. The 2.9% difference means a lot, especially in the long run.
Lower Interest Rates
Look for one with the lowest rate among others to further maximize having a credit card. This definitely spells savings. If you do not have a balance yet, it is best to look for a card without annual fees.
Take extra precautions, too, in assuming that the lowest interest rate is the best for you. Factor in your buying habits. You may be attracted to the low rates, but the end result may not be desirable if combined with the annual fees and the like.
Rewards Program
Reward points system and cash back programs are offered now. This can save you money. Maintaining a low balance despite your frequent buys will give you at most 5% off on purchases.
There are even cash rebates up to 5% when you use the credit card at certain gas stations, convenience stores and groceries. This can be automatically applied to your bill, the more you can feel the savings you are making.
Maximizing the Experience
To reap the rewards, you must avoid the drawbacks. A prudent person will definitely look for the best deals and grab it right away but with some caution.
Thus it is necessary that you read the details. Check the fees that may be charged and the penalty rates in case you delay. This may be the downside of the deal offered to you. For example, be careful of cash advance features of credit cards. Some of them can be very expensive. They can come with numerous fees and higher rates.
Be wary! Spending cannot be avoided at times. Just don’t forget your goal, getting a good deal to save.
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How to Interpret Credit Score Ranges
Your credit score ranges are an important asset, and it is vital that you treat them as such. Without careful attention, it is possible for your scores to drop to the point where it would be almost impossible for you to acquire a loan of any sort. Why is this? Almost three-quarters of lenders pay close attention to your credit score when you apply for a loan. More than anything else, these scores affect what sort of loan terms and interest rates that you will be able to obtain, for the scores are the only "you" that a lender will see. Never underestimate the importance of your credit record, for it determines many other important things, such as:
• Mortgage types available when you buy a home • Down payment amounts • Car Loans • Insurance premiums • Whether or not you will be hired for a job you are seeking
Of course, in order to be able to interpret your credit worthiness score, you have to have a copy of your credit report, which you can get by contacting one of the "big three" credit bureaus. Once you have this report in hand, it’s time to look at your stats and see how you stand.
How High Can A Credit Score Go?
Credit scores can range from a high of 850 to a low of 300. Of course, the higher the score, the more likely you are to get a great interest rate and approval for a loan. With a score of 700 or above, most lenders will see you in a very favorable light, for your credit to be considered in the category of Excellent to Very Good. Depending on how much over 700 your score is, some lenders will offer you even better rates than the 700 and below score crowd receives.
A score of 680 to 699 means that your credit is considered to be Good. You aren’t considered as a credit risk with this score, but you won’t get offered the lowest of interest rates like those with higher scores.
The range of 620 to 679 is considered to be OK. It’s not low enough to get you denied for a loan, but you will definitely not have the best terms.
A score of 580 to 619 is considered to be Low. With this low of a score, you are teetering on the edge. You are almost at the point where you can’t get a loan at all. Loan officers will manage to work with you, but the loan will definitely be more expensive for you in terms of interest. And, you won’t have much of a choice, as if you want the loan, you’ll have to pay the price.
The range of 500 to 580 is considered to be quite low. If you are in need of a loan with a score this low, you will only be able to get a specialized type of secured loan tailored to people with bad credit.
If your credit score ranges between 499 and 300, you really should consider credit counseling or a debt management program. But, take heart - with a little diligence, you can raise your credit rating and improve your credit report.
Not sure what your credit score is? No problem, find out how to obtain free FICO scores by visiting http://www.creditreportguideonline.com, a popular credit report site that provides advices, tips and resources including information on how to get a credit card with no credit check .
Read More......2008/01/12
Low Credit Score Loans: easy money for those in bad credit
With these loans, the borrowers who have a low credit score can easily obtain money for their needs. The needs can be anything like debt consolidation, car purchase, wedding expenses, educational expenses, travel expenses etc.
The borrowers can avail the money in the form of secured and the unsecured loan according to their needs and the availability of asset with them to pledge as collateral. The secured form of these loans is available to borrowers who have an asset and are willing to pledge it for getting a big amount of the loan at a lower rate of interest. The money available through these loans is in the range of £5000-£75000 for a term of repayment of 5-25 years. The rates of interest are low because of the pledging of collateral with the lender which ensures the repayment of the loan amount easily.
There are people as well who need money but do not have any asset to pledge. For them the unsecured form is the best which offers an amount in the range of £1000-£25000 for their needs. This amount is required to be repaid in a term of 6 months to 10 years. Rate is slightly higher than the secured form due to no attachment of the collateral with the loan.
The borrowers can get these loans easily at affordable rates if they take up a research through the online mode. This will help them in getting lower rate deals with the help of comparison of the deals that are offered.
With low credit score loans, the borrowers benefit a lot as all their problems are solved at a very low cost and virtually no hassle caused to him.
Ashley P Lewis is a debt consolidator and advisor and has been dealing with various finance programs. If you want to know more about Low Credit Score Loans, Loans UK, Personal Loans UK, Secured Loans, Loansx you can visit http://www.loansx.co.uk/
Read More......
