Monthly Archives: January 2020

Kotak Platinum Card Kotak League Platinum Credit Card

Exclusive dining benefits, lost or stolen fraud cover, priority attention, savings on Taj restaurants and bars, priority pass membership, life time free skin consultation theres lot more than you can think and get out of Kotak Platinum Card.

Kotak League Platinum Card offers the benefits which are at par/better than any other Platinum Credit Cards being offered by various credit card companies. Meant for the people who lead a exclusive life and habitual of moving on the grand lawns, the League Platinum Credit card offers the benefits exclusive for its league credit card members.

With Kotak League Platinum Credit Card, enjoy the benefits of savings on Taj restaurants and bars, complimentary membership to golf Golf free card, priority pass to privileged access to 500 International airport lounges worldwide and that too AT NO EXTRA COST and exclusive lifetime Kaya Skin consultancy. Also enjoy the benefits of time to time offers which kotak credit cards keep on coming with, year by year.

For those who believe in getting the best out of life and know how to live their money, Kotak League Platinum Credit Card offers the best deal. It is one of the best Platinum Cards in terms of added advantages, cash back returns, value added services and priority services. With Kotak Platinum Credit Card you have the best deals in your hand to encash at your ease. With the best merchandise in your hand, you have the elite power of credit in your hand which you can utilize at your ease, at any time. So, go take the lead and grasp the transcendent power in your hand.

Kotak has launched its Platinum Credit Card in all the major cities of India like Ahmedabad, Bangalore, Chandigardh, Chennai, Coimbatore, Delhi (including Gurgaon and Noida), Hyderabad, Kolkata, Mumbai, Navi Mumbai and Pune. It can be easily applied for online. Once applied online, Kotak Bank comes to you to get the formalities done.

Buying Postal Uniforms Online

Uniforms are made to be worn by specific people so that those people are easily recognizable. It depicts formal look and shows that the person wearing the uniform belongs to a certain team and abides the same. It arouses real gentleness in the person. Like other sector USPS has also a set of uniform, which are easily available online.

As a result, USPS is very careful about who purchases its uniforms, ensuring through regulations that only legitimate employees of USPS can purchase specific uniform items. If you are a USPS employee purchasing uniform items, here are some important facts you should know:

The style and design of USPS uniforms is dependent on the work an employee performs, the environment in which the employee is required to operate, and the amount of visible contact the employee has with the public. Based on these factors, postal uniforms are placed into 6 categories, Type 1 through Type 4. For ease of online shopping, the best online stores organize their clothing based on these categories.

While it is easy to purchase postal uniforms online, from the comfort of your home, there are some basic things you should keep in mind. Make sure you know your required styles and size. Also make sure your Postal Allowance Credit Card is activated. Your Postal Allowance Credit Card is required before you can purchase items containing the postal emblems and clothing specific to your craft. These credit cards help you with easy shopping and convenient order placement.

Your Postal Allowance Credit Card has an expiration date. The credit cards have expiration date and you need to keep close watch on it. You should therefore make sure to use all funds allocated to you on the card before this time expires, otherwise you will lose the funds. To prevent this, make sure to remain up-to-date on the balance remaining on your card. You can do this by calling the toll free number on the back of your Postal Allowance Credit Card to check your balance.

Now there may be situations that you want to buy a product and you may lack balance in your credit cards. If you wish to purchase an item but do not have enough funds left on your Postal Allowance Credit Card, you can use your personal credit card. However, the information on the Postal Allowance Credit Card will still be required for the transaction to be approved. You can also make purchases using only funds from your personal credit card, but, as before, you will still need the information from your Postal Allowance Credit Card for the transaction to be approved.

Shopping online is easy, convenient, and gives you access to a wide range of postal clothing, including shirts, ties, postal footwear, socks, outwear, overshoes, pants, skirts, shorts, culottes, and gloves.

The Disadvantages Of Low Interest Rates Credit Cards

When it comes to credit card debts, consolidation is often recommended. If you own multiple credit cards and you have an existing balance with each of your cards, the best way to pay off those balances is really to consolidate. Why is this?

We all know that credit cards have different interest rates and fees. Most charges very high interest rates, particularly credit cards with reward programs. In this case, each time you carry over your balance for the next month, you automatically incur the additional interest charges. Imagine how much more you’ll have to pay if you incurred additional interest rates on all your balances. In this case, credit card consolidation is the answer.

How does credit card consolidation work? By getting a balance transfer credit card, a card holder can pay off his monthly balances with a much lower rate of interest. Some balance transfer even offer zero interest rate which means the card holder no additional interest rate would be added on his account all throughout the zero-interest period.

Low Interest Rate Credit Cards Are Not Always the Best

It is true that balance transfer credit cards are great tools for recovering from credit card debt. Nevertheless, this doesn’t mean that all low interest rate cards give the best deals. Some balance transfer credit cards that offer low interest or zero interest may actually be misleading. Why?

Take note that the low interest or zero interest rate is just offered for a limited time period. Some offer 3 months, 6 months, 12 months or even longer introductory period. After this time, the interest rate will return to its regular rate. Therefore, it’s important to ask, how much would the interest rate be when the introductory period expires?

Sadly, some holders got stuck with a card that has an even higher interest rate than the ones they already have. Because they failed to pay off their entire balances within the low interest or zero interest period, they still ended up with unpaid debts in their account.

There are also low interest rate credit cards that impose excessive late penalty fees, annual fees, and balance transfer charges. Despite the low rate of interest, all your savings are offset by the other fees you must pay. For example, how much is the charge each time you need to transfer over your balance from another credit card? It’s important to be clear about the exact costs involved with your balance transfer credit card before you sign up for the low interest offer.

Clearly, caution must be taken when choosing low interest rate credit cards. The ads may all seem attractive but remember that the ads do not reveal everything about it. Take the time to compare potential credit cards. Read the Terms and Conditions in full before submitting your application. In order to find the best deal, you need to be willing to research, compare, and carefully weigh your options.

Ways Your Finances Can Benefit From Credit Card Use

Credit cards will claim the demise of many household finances with long-term debt to plague family budgets. The cards are easy to use and difficult to manage. Some people give up using the cards in order to maintain a good budget. This action hurts their credit score in return. People need to learn how to use credit cards to their advantage without suffering from money loss or lowered credit scores. If they are so difficult to manage, why are credit cards good to have?

1. Revolving credit differs from installment loans. Your credit report wants to see well-managed accounts in order to evaluate your money management ability. It is good to have both types to promote the best score. .

2. Multiple cards show that you have control of your spending power or it shows that you don’t. The trick is to not allow you the freedom to spend the credit limits without the resources to pay it back swiftly. Keep balances less than 30% in order to have your credit card use help your score.

3. Learn to rotate use. Instead of using multiple credit cards each month, rotate your accounts. Use them one per month. Make a charge to show activity but pay it off in the end. Change cards the next month and do the same. This action keeps your credit cards in active use without any of the damage to your credit utilization rate. You show use with limited or no balance. Your credit cards will be an asset within your credit report.

Be proactive to support positive credit card activity 4. Don’t cancel cards especially if there is a remaining balance due. This action will raise your credit utilization rate. It compares If you feel you must cancel a card, do so to one that is young and not used. Don’t cancel multiple cards at once. Stagger the action leaving several months in between each one so your credit has a chance to stabilize. The cards themselves are not bad for you, the overuse and long-term balances are.

5. Be smart about applying for new credit. If you have filled credit cards and are hoping to get another to help with the budget, your request will come back to hurt you. Remember, hard inquiries into your credit counts as a negative. It takes points away from your score and leaves a mark to show others they are looking at you. A new line of credit would open up an opportunity to make a high ticket purchase affordable. With a zero interest introductory offer or possible debt transfer you can make monthly payments easier to manage. Be smart about when you apply and with what company. Research the cards to see if your credit score would even get you approved. It makes more sense to not apply if you know you the company expects a higher rate for approval.

Don’t let credit card use make you credit challenged. When you run out of options and interest rates increase, your debt will be that much harder to pay. It is better to focus on lowering your debt totals below 30%. Keep potential options open instead of having to fall upon fast cash advances to meet the end of the month budget demands.

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Why Do People Get Into Credit Card Debt

With the use of credit cards comes credit card debt. How do people get into debt? The old saying that it is easier to get into debt than it is to get out of debt is one hundred percent true. There are two main reasons people get into credit card debt: some debt is unavoidable while other is avoidable.

People that get into unavoidable debt is people that have lost their jobs and they no longer have the cash to pay their bills so they use their credit cards then they are unable to pay the bills when they start coming in. Another reason for unavoidable debt is when someone gets ill and they are not able to pay bills like they use to be and fall back on credit cards.

There are some kinds of people who buy whatever they want; weather or not they have the money. As long as you have available credit you can get it giving no thought whatsoever to how long it will take you to pay it off. Chances are you are in avoidable debt. Sadly this is the category where most people in credit card debt are right now and this is what gives credit cards a bad name. For these people cash is the best policy. If you do not have the cash to get what you want you do not need it.

Some keys for keeping yourself out of debt is to keep track of your expenses. This means if you use your credit card only use what you know you can pay back in a months time otherwise you will be paying extra for your purchases. When applying for a credit card, dont fall for introductory offers. You want a low fixed rate from the start.

No matter how you got there the fact is that you are in debt and you will most likely spend the better part of your life trying to get out. There are people that can help you get out of debt but they also cost so in the end you will pay for it one way or the other.

So if your credit card debt is the result of a loss of your job or an illness or your debt is a result of a life of having what you want when you want it. The fact is that credit cards are a great thing to have if you use them the right way. Just going out and buying what you want when you want it because you have available credit is not using them the right way. However credit card debt that is the result of a loss job or medical issue is not debt that you could have prevented but a good idea is to when you can put extra money away just in case you have to deal with a situation like that again. As with any tool you have to use it the right way for it to work.

Asset Finance Leasing A Primer

Asset finance is a boon to small and medium enterprises as it saves them precious working capital and helps them to improve their cash flow by letting them lease/hire expensive business critical assets rather than buying them outright.

In general asset finance is available through two routes – hire purchase and leasing. Under a hire purchase arrangement, the ownership gets transferred to the customer at the end of the hiring period while in a leasing arrangement the customer must return the equipment back to the leasing company.

In both the options, the customers must pay an agreed monthly or quarterly rental for the length of hiring/leasing period. In this article we will talk about leasing and its various aspects.

This non-transferring of the ownership is the fundamental characteristic of the lease arrangement. During the period of lease, the customer pays monthly or quarterly (or whatever is agreed) to the leasing company. This rental payout is deductible from income in some cases (except for a finance lease).

There are various types of leasing:

Finance Leasing
This comes closest to the hire purchase option of asset financing with one major difference the ownership of the asset doesnt get transferred to the business customer at any point of leasing period.

In this arrangement the customer pays the full cost of the equipment, plus the charges in the form of lease rentals over the period of the lease. The customer also gets to bear risks and enjoy benefits usually associated with the ownership without actually owning the asset he must bear the maintenance and insurance cost of the asset and will have to treat the asset as a capital asset in the balance sheet.

At the end of the lease term, usually the asset in question is re-leased to the customer at much reduced payments or is sold second-hand to an unrelated third party.

Operating Leasing
While the term for a finance lease is long, an operating leasing is usually resorted to if the need of equipment is for a shorter period. Here the full cost of the equipment is not recovered and at the end of the lease term, usually the equipment is leased to some other customer or is sold second-hand.

This type of lease is fairly common for cars and construction equipment for whom there is a mature and ready second-hand market. The usual period is of two to three years or longer, but always short of the working life of the asset. The leased asset would not go in the balance sheet as part of capital assets. Rather the lease expenses will be treated as deductible expenses in the income statement.

Contract Hire
This is a variation of an operating lease and is mostly used for vehicles. With this option the customer gets the chance to use the new asset without bearing the risks associated with ownership. Here leasing companies agree to bear some part of the management and maintenance expenses. You need to work out full details with the leasing company.

Common Reasons Your Housing Loan Application Can Be Refused

Unless you are cash rich, you would look to leverage on a housing loan to purchase a home. Getting an approval for a housing is never a certainty. There are many situations where home buyers can have their applications rejected outright by the mortgage lender. When that happens, a lender may inform you of the reasons why your application had been declined or not even give you service call to inform you of their decision.

These are some common reasons that housing loan request are declined by the mortgage lender.

1) Being a guarantor for a relatives loan

One of the most common reason that terms your personal financial position as over leveraged is by signing as a guarantor for another individuals loan. There are many reasons for this to happen. It could be that you nephew needs a guarantor for an education loan, your spouse included you as a guarantor for an auto loan, your dad needed you as a guarantor for a recent investment property loan, etc.

At the point of signing on, it is normal to think that these circumstances will not affect you in any way. But it can have a great effect on your loan applications in future, including your housing loan. Unless you have a high personal income, obtaining attractive housing loan terms can be frustrating.

A mortgage loan is a very significant personal financial commitment, the mortgage lender will be concerned with your personal financial leverage when assessing your application. And because you are a guarantor for other loans, those can be taken into consideration when calculating your personal debt ration. A higher ration can deem your personal financial leverage as undesirable.

2) Negligent on material information

Our personal finances are very private information. As wealth is a symbol of social status, many people may be a little embarrassed about revealing the full details of their current financial position, especially if they perceive their personal credit record as one that is adverse. However do note that a mortgage broker or a mortgage officer is there to help you obtain your desired mortgage. It is their job and they will be delighted to be able to acquire a deal for you that you will be happy with.

Because of the nature of their job scope, they have seen a number of applications and have experience on what to look out for in your application. So when you are probed on personal financial information, be open in sharing them so that an officer will know the best course of action to help you obtain an approval for your housing loan.

Do not think that some information requested is not important. Unless you are the mortgage underwriter, you will have little idea on the assessment criteria required. When possible issues are raised by your mortgage officer, you can get them resolved before processing your application. Working on adverse issues only after your housing loan has been declined may be too late.

3) Outstanding arrears and credit card bills

Because a housing loan is a secured loan, you may be complacent on thinking that it is one of the easiest forms of loans that you can get. You may even think that you personal credit record is of little importance since the mortgage lender should feel save since there is a valuable collateral involved.

That is not the case. Your personal credit record can have great effects on how flexible a mortgage lender is willing to be with you. This is especially so when you are a new customer to the lender. They have not dealt with you before and the only way to fairly judge your financial behavior is to assess your credit record. When it shows that your current auto loan and credit card bills are late by 3 months, it does not reflect nicely on how well you manage your finances. You can be penalized with an outright rejection or offered more unfavorable terms because of the additional risks put on the lender. Always ensure prompt payments on your personal credit facilities at least 6 months before your housing loan application.

Spending Habits That Can Bury You In Debt

The scary thing about debts is that many people do not actually know how they get into this predicament. It is like saying that they woke up one day and found themselves buried under a pile of debt without hardly any recollection of the events that led to this problem.

The thing is, debt is not something that happens by itself. Debts are caused by concrete events in your life, which can be anything from a job loss, divorce, health condition, and so on. It could be also be brought about by poor financial management and unhealthy spending habits.

Yes, you heard it right. Those little things that you spend for, they can cause you to be deep in debt without you knowing about until it is too late. Here are some of the injurious spending habits that can drown you into a sea of debts. Recognizing these habits is the first step in preventing debts from taking control of your life.

Unhealthy spending habit # 1 Spending more than you earn

Thanks to the advent of credit card technology, it is now logically possible to spend over $2,000 each month even if what you are earning is only $1,200. Aside from using credit cards, people also tend to dip into their savings and borrow from others just to be able to get away with spending more than what they are earning. But this is NEVER a healthy way to spend money. Limit your expenses to how much money is coming in. If you see that your paycheck cannot sustain your expenses, you either lower down your standard of living or you work extra harder.

Unhealthy spending habit # 2 Spending tomorrows money today

Some people have the habit of spending the money even before it reaches their hands. You may be so sure of the salary raise or the monetary gift that your aunt is planning to give you so you go on a shopping spree today only to find out that your boss changed your mind or your aunt encountered a problem at home and you wont be getting that money you thought you were going to have.

Unhealthy spending habit # 3 Spending money you do not have

Credit cards are again to be blamed for this unwise spending habit. Instead of using credit for your expenses, the better alternative would be to use your debit card. This way, you do not incur debts because you would be spending money that is in your bank and at the same time, you get to enjoy the convenience of plastic money.

Unhealthy spending habit # 4 Using credit cards for regular expenses

For everyday expenses like groceries, gas, clothes, entertainment, and so on, make it a habit to use cash. The premise for this tip is that people are less likely to pay for things that they have already consumed. It is a very bad habit to use credit card in lieu of cash, most especially if you do not pay your credit card bills in full each month.

Unhealthy spending habit # 5 Using credit cards even when you have cash

There is something about credit cards that make people feel powerful. It is probably the smooth move of taking out a shiny card out of your wallet and swiping it instead of counting bills and coins. But this is the surest way to get yourself into debt. Get rid of the something for nothing mindset and use cash or debit card more often than your credit cards.

Lastly and probably, the most dangerous spending habit of all is not changing your spending habits even when you are already deep in debt. Analyze your spending patterns and see how you could learn from your past mistakes. Not realizing that you have a problem with your spending habits would cause you so much more trouble. It would be a good idea to look for consumer credit counseling services for financial advice and to undergo credit card debt consolidation program to make it easier for you to pay for existing credit card debts.

Managing Credit Card Debt

Managing Credit Card Debt

September is here again. Thus begins that time of the year where most people end up spending more than they usually do because of the bevy of events and holidays this particular period has. Thanksgiving, Halloween, and, of course, Christmas are but some of the occasions in this last quarter of the year has that tax our budgets more than taxes already do. And in most cases, you?ll end up putting most of your expenses on your little plastic friend. Before you know it, you?ve racked up quite a substantial credit card debt. But just as this is the seasons of hope and celebration rather than of doom and gloom, managing one?s credit card debt isn?t as daunting as it seems. One of the first things you have to look at is your credit card provider itself. If you still have it, look at the forms you signed and pay particular attention to the fine print. If you can?t make heads or tails of it, ask a friend or colleague who knows the jargon, especially the legal background of the terms and conditions of your card. It?s important to know whether you?re getting a fair deal from your credit card provider or they?ve hoodwinked you into signing your way into debt slavery. If you think, or has been advised by reliable persons, that you?re getting a bad deal from your provider, maybe it?s time for a change. Immediately call the provider that you?re cancelling your card and will just pay of the principal. If you can ask for an ?amnesty? so that the interest doesn?t pile up while you pay your credit card debt off, then that?s even better. If you?re the type who can?t live without a credit card, then look for one that offers a fair deal. This can help you in two ways: first, it will free you from the unfair practices of your former credit card company (and be sure to tell your network about them, too). The other thing is that credit card providers usually offer to absorb your existing balance from another provider when you transfer to them, usually at decent rates. The latter is part of what?s called ?snowballing,? and is best done if you transfer your current credit card debt from a high-interest provider to one with much lower rates. Even around two to three percentage points shaved off the interest from one card to another can mean a big difference in relieving the pressures you have in paying off your balance. If you?re cool with your current provider and shifting isn?t an option, or not one you want to try (right now, at least), you can steadily decrease the balance of your credit card debt simply by paying more than the minimum required every month. This will ensure that you?re making a dent on what you need to pay off, even if just in small steps, especially if you find yourself unable to not use your card. Finally, a change in spending habits might be called for. Having a credit card greatly increases our ability to purchase things, especially if we do shopping online. Discipline is very much required when it comes to owning a credit card, and knowing when to buy and when to just stop pressing ?add to cart? can spell the difference in your attempt to crawl out of the debt hole. Credit card debt can be daunting at times, especially these days when the economy seems to be struggling ? out-of-control debt was what tanked it in the first place, after all ? and many jobs are at risk. But if you keep your wits about you and know when to quit when the buying madness gets a hold of you, getting out of the debt trap won?t be as hard, and won?t have to cost you an arm or a leg. Or a kidney. You can use all these strategies to save money and get out of debt but they will all mean nothing unless you can call upon someone you trust to get help when you need it.

What Are Some Of The Causes Of Bad Credit

There are a number of factors that can give you a bad credit rating and make getting financing of any kind difficult, or at the least, more expensive. The lower your credit score, the more likely a bank or other finance company is to charge you higher rates of interest if they are willing to lend you money at all. This can make getting a new car, house, or other big purchase very expensive indeed.

Good or bad credit rating all revolves around one simple number that lenders refer to as FICO (short for Fair Isaac and Company which is the original company that came up with the scoring system used today). This number ranges between 300 and 850 with 300 being the very worst credit rating, and 850 being the very epitome of good credit. This score is based on the following percentages:

35 Percent of this score is based on you past payment history. This number indicates such factors as if you make your payments on time, or if you make them a few days, a few weeks, or a few months late, or if you do not make them at all.

30 Percent of this score is made up of how much outstanding debt you have. This is a much larger portion of your credit score than many people think it is. The more money you owe, the more unlikely a bank will think you are to pay off new loans no matter how good you are at paying your current bills. Some financial experts call this the debt to income ratio.

15 Percent of your score is based on how long you have had credit. A one year payment history is not as good as a 20 year payment history. Of course, one really good year beats 20 really bad ones, but if they are both equal the longer term is better.

10 Percent of this score is based on how many companies have inquired on your credit history in the past year. If you have a lot of inquiries banks think you are fishing for as much credit as you can get and may end up with multiple new loans all at the same time thereby over-extending yourself. This is one good reason to get on the national registry that prohibits lenders from doing those ‘pre-approved’ credit checks that they are always sending to your house in the junk mail.

The final 10 percent of your credit score is based on the type of credit you have outstanding. Certain types of loans count for more than others. Car, house, and other major purchase loans have a higher value than simple rotating credit that can be used for anything under the sun and may not include any purchases of long-term value.

Knowing what factors play in creating good and bad credit ratings can help you design your financial life and spending habits around developing a good score. Paying your monthly bills on time, keeping your loans in a reasonable level compared to your income, and only using credit for important purchases are great ways to develop good credit ratings instead of bad credit ratings.