Author: Jared Croslow

Most people who just join the military are in an enviable position of having very little or no established credit. While this may seem like a bad thing, it actually puts you in a great position to build good credit.

Most people who just join the military are in an enviable position of having very little or no established credit. While this may seem like a bad thing, it actually puts you in a great position to build good credit. It is much easier to build good credit then it is to repair it so now is the time to thoughtfully establish some and maintain it to improve your credit rating. The military offers its service people an advantage. Lenders like the fact that you will have a guaranteed paycheck for four years and are more apt to extend credit for the first time.

The first thing you should do is receive a copy of your credit report. There are three primary credit bureaus, Experian, Trans Union and Equifax that supply credit reports. It is advisable to get a credit report from all three. You will then need to analyze your report to see if it is accurate and what it says. If there are items on there that you are unaware of, now is the time to clear it up. With identity theft so prevalent today, even though you may not have credit, someone else may have gotten something in your name.

Then, you will need to open a bank account. Navy Federal Credit Union (http://www.navymoney.com), NFCU is a good place to start for United States Navy service members. It is advisable to open both a checking and savings account. This will show stability and allow you to pay bills and function much easier. Deposit your paycheck into your checking account and take a portion every pay period to put into your savings account. Do not touch the money in your savings account. Instead, let it grow and accumulate interest. Keep an eye on your checking account and do not let the balance get too low. Always balance it and make sure you do not bounce any checks.

You will want to apply for a revolving charge account. Types of credit that are good to get in the beginning are major credit cards like MasterCard, Visa or Discover. These will allow a lower interest rate and will help start you on a history of good payments. The trick is to not charge more than you can afford to pay off completely. Use the card for small purchases and pay the majority off each month. However, do not always pay it off entirely. You want to establish a good credit rating so be sure you do not pay late. Not only will it increase your interest rate and add finance charges but you will reduce your credit score.

Establishing good credit takes discipline, something you should be familiar with in the military. Taking the time to build it now will hold you in good stead throughout the years and will enable you to get bigger loans when you need it. Eventually you will need a car and a home. If you have good credit you will be able to get approved for a loan more easily and get lower interest rates.

About Author
NavyMoney.com gives those who are in the United States Navy alternatives to http://www.navymoney.com Navy Federal Credit Union for building credit.

These days, it seems a computer is almost as necessary an appliance as a refrigerator. Once thought of as a luxury or a device solely reserved for business, the home computer performs many necessary functions that keep daily life running smoothly. Paired with an Internet connection, the home computer closes the gaps of communication between family and friends, helps keep finances balanced, and serves as an invaluable tool for organization and education. It isn't just for video games anymore!

That said, it is important for a family on a budget to choose the computer system that is best for them. When shopping for computer systems, one should not get carried away by unnecessary bells and whistles if they are not needed to perform the business and personal computing tasks that need to be done. So when you are out shopping for your next, or first, computer, take the following into consideration before you commit to a purchase:

Functionality – What do you need a computer to do for you? Do you have a student in the home who needs to compose term papers and reports? Do you wish to keep track of family finances and pay bills via the Internet? Do you operate a home-based business that requires a computer to maintain long-distance communications with clients?

Depending upon your business, the platform you use can make a difference. In education, for example, teachers and administration lean toward one particular platform over another due to the increased functionality for making graphs and flowcharts, presentations for overhead projection, and spreadsheets for tracking grades. For the graphic artist, it is important to choose a platform compatible to advanced graphics software. A writer may need a specific platform that can easily transfer documents to be read by editors, agents and publishers. Whatever your profession, it is always a good idea to consult with others in the field to determine the platform best suited for your needs.

Speed – How often do you use a computer? Do you fire it up once a month when the bills are due, or maybe a few times a week to check e-mail from family and friends? Are you a die hard user, and literally have to leave it on all the time for business or other projects. Do you require a powerful Internet connection to transfer large files to and from clients, or is a standard dial-up account suitable for what you do? Some may argue faster is better, particularly if you are a heavy Web user who prefers to download sites without constantly checking your watch. However, high-speed modems and tons of memory may not be necessary for all computer owners. If you fall into the category of occasional user, you likely don't need the expense of a mass connection package if you only surf the Web on occasion. Determine how much time in the week is spent on the computer and on the Internet as opposed to your other priorities and work out a connection and memory package from there. Don't feel you have to keep up with the Joneses as far as speed is concerned. Sometimes it is best to take things slowly.

Software – What kind of software do you need? Do you need a word processor for everyday correspondence and reports? Do you need graphics software to edit photos and images? Do you need accounting software for bookkeeping purposes? Some platforms and speeds work well with some software programs, so if you have a specific task in mind for your computer you should consult with a knowledgeable sales representative to help you choose the right system for you. Don't allow anybody to sell you what you don't need. If you have no use for an advanced program like Photoshop but would like a program to sort photos from a digital camera, don't let anybody convince you to spend the extra money. Consequently, if you need a program like Word but don't need other office peripherals, shop for the best suited package for you. If you are an educator or student, look for discounted or specialized software for your needs.

Shop smartly when you prepare to take home a computer. Learn what each system does and how well it runs programs. If you have something specific in mind, ask a sales clerk and weigh all payment options before making a decision. A computer is a good investment for any family to have, so make it a good one.

by Stephen Morgan

No this is not a seasonal warning about thieves and pick-pockets (well certainly not the usual variety) but rather a heads up about the annual onslaught of direct mail from those glorious companies who have our welfare dearest to their hearts, the Worlds Credit Card Companies!

Bless them they have had a hard time this year with the annual revenue per card halving in the past five years, according to PricewaterhouseCoopers in their recent report “Precious Plastic 2007”. All because by and large we have managed to get to grips with the ways they have been robbing the living daylights out of us for the past god knows how long!

Apparently their problems are largely threefold (he says trying hard not to laugh) and they are roughly the following:

1. The number of people who are euphemistically known as “Rate Tarts” that is to say those who rather smartly are able to take advantage of being able to move their debts from one card to another taking advantage of interest free and low interest deal has grown. The downside of this type of action is that you have to be very careful and time it to perfection to make this sort of activity work for you.

I know of at least one major Credit Card Company that establishes its major model of Customer acquisition through offering ridiculous deals at the start and working on the principle that some poor unfortunates will get it wrong and end up paying for the rest. I mean where else would you get away with going from zero to 29.9% in less than a Month. In the old days it was called usury!

2. Apparently bad debts are on the rise again? Well that one took a lot to spot! Wow, never saw that one coming!

If you take your little bits of plastic and offer them to kids who have no idea of ever having had to budget in their lives before OR (and this is more of a heinous crime) prey upon those who are already in financial difficulties then you should hardly complain when you occasionally get it wrong!

It would appear the effects of never having had it so good has been to cause more than the usual number of households to overstretch themselves on the old household front and now are struggling to make their payments

3. Lastly, it would appear that (certainly in the UK and I am sure in the US too) that the Authorities have got wise to what is going on and at last decided to get heavy with them over their laughably ridiculous penalties and fines for late payments.

I know of another poor individual who got close to their credit limit, an unexpected payment came in (despite that fact that the electronic control system should not have authorised it), took them over their limit and then got hit with a double jeopardy of late payment / over the limit fees leading to more…..you’ve guessed it more over limit fees and then the whole thing compounded nicely downhill from there on in!

The bottom line to all of this is that is that in the UK for their 32 million Card holders the Credit Card Companies are looking to recoup upwards of £1 billion in potential lost revenues!

Watch out, Bandits about!

Stephen Morgan is an independent journalist writing on a number of issues, the majority concerning adverse financial situations and the resultant stress that they create. He is the principle Editor for Personal Bankruptcy and also has just launched the associate site Living with High Blood Pressure. More details about the above article can also be found at Debt Consolidation Services.

by Joseph Kenny

Choosing the right credit card that is most suitable for your needs will take a little work, but it certainly will prove to be worthwhile in the long run. Whether you want it so that you don't have to carry cash with you, or you are a businessperson who is looking to have an accurate record of all business-related expenses, there will usually be one card that is a little more beneficial to your situation than others. Here are some things to look for to help you get that perfect credit card.

Determine Your Primary Use of The Credit Card

Probably the most important question to ask up front is what do you want to use your credit card for most? This should largely determine what kind of card you need to look for. For instance, if you are in business for yourself, or if you travel a lot for your business, then there are a couple of cards that will really help you save some money.

If you fly a lot, then go for a credit card that will give you a lot of air miles up front, and will also give you a lot of options that you can use the points for. It should also have an option of allowing your points to be used for hotel rooms and possibly car rentals.

If you drive a lot, then go for a gas card that gives you rebates on your gasoline, and make sure your points can go toward car rentals, or towards a new car. There are also business credit cards that will not only help you with these things, but will also allow you to use your points toward the purchase of new office equipment and other similar things that every business needs.

On the other hand, if you are a student, or a mother just wanting to use it for more simple expenditures, like gas, food, prescriptions, and some pizza money, then you just want a regular card that will reward you for these type of expenditures. On these items, you can expect to get up to 3% rebate, possibly more on other types of purchases. Many cards may only give you 1% of a rebate, but by looking around, you can get the 3%.

Needs For Debt Consolidation?

If you have found yourself getting in debt pretty deeply from credit cards, then you can use a new credit card to actually help you eliminate some of the debt. Here's how. Get a 0% APR interest credit card that will give you the opportunity to have balances transferred to it - but make sure that there is not any balance transfer fees.

Many credit cards have these fees, but there are just as many that do not have them. Why pay for it when you can get this option for free from someone else? You also want to be sure that the introductory benefits last for at least one year; some only last for three months. Then, if you still have debt on this card, be sure to get yourself another card before the year expires, and give yourself another year of 0% APR interest on it.

Getting The Most Benefits From Your Credit Card

No matter what benefits you have attached to your credit card, you will not enjoy much of them unless you do two things. The first thing that you need to be sure to do is to pay your credit card bills on time so that you do not pay the monthly late fees. Being late even once with some credit card companies is all the excuse they need to charge you the full amount of interest - from that point on. A second thing is to pay off the bill in full each month, in order to avoid the interest charges, after the introductory period expires.

Establish A Good Credit Rating

With something as simple as too much debt owed on a credit card, many people have wiped out the possibility of buying some of the bigger items they may really want - like that nice house that they have dreamed of for so long. The best credit card will also help you to build up, maintain, or repair your credit rating, too; if it is used wisely.

Article Source: http://www.articleaddition.com

Joe Kenny writes for the Credit Card Guide, offering views on UK credit cards, visit them today for some great 0% balance transfer offers and start clearing credit card debt today.

You get them the mail every day. Sometimes, three or four envelopes come at once, all stamped with the same blaring missive. You're pre-approved for credit! Low rates available! No payments for a year! It seems like good news, and it's tempting to want to fill out every form you get, thinking you can build up good credit for the future. However, it's best not to get too carried away, lest you find yourself taking on more than you can handle.

Is it possible to establish good credit early on in life without burrowing into debt? Of course, all it takes is a bit of research and self-control. Given the responsibility of handling one's own money need not be too daunting a task, so long as you realize the necessity of keeping a good credit standing. By showing that you are able to keep good credit now will help you in the long run when it's time to buy a car or a home, or large luxury items like a boat or motorcycle. Some companies are quite fond of offering financing plans to consumers, but in the end they want to be assured that you can eventually make all the payments. Here are a few tips for establishing a good credit base for a successful financial future.

In Part I of this two-part article, we looked at ways one can establish good credit. By maintaining a healthy financial base with a job, bank account and paying bills on time, one can build an excellent credit rating for future purchases. Careful investments with people you trust can also be beneficial, especially if you do business with people with established credit. Here are some other ways to help nuture a strong credit score.

Establish good credit with specialty cards

Before you dive into that sack of mail to collect the many credit cards approved for you, consider starting small by applying for cards for practical purposes. Obtaining a credit card for a major department store or gas station is a good way to establish credit while curbing bad spending habits. Some cards may require you to pay the monthly balance in full when it is due, so this way you have the opportunity to prove that you can be a controlled spender and be responsible for monthly bills.

Secured Credit Cards

One way people get into trouble with credit cards is overspending. Limits may be set, but it is possible to run too many charges on a card so that the monthly minimum payment becomes too much to handle. Add that you continue to spend as you pay off, and the balance will never decrease!

A secured credit cards is similar to a debit card, in that a set amount of cash from your bank account is placed in your spending queue. As you buy things, the money is deducted. All you have to do is keep track. Proper use of a secured credit card can train you well for a regular credit card with a larger spending limit. Don't think because you have a card with a ten thousand dollar limit, it means you have to spend the money. Eventually, you will have to pay it back!

Controlled spending, wise investments, practice with limited store credit cards and responsible money management all contribute to building good credit. If you can prove your fiscal maturity now, it will be easier in the future when it comes time to make a big purchase.

You get them the mail every day. Sometimes, three or four envelopes come at once, all stamped with the same blaring missive. You're pre-approved for credit! Low rates available! No payments for a year! It seems like good news, and it's tempting to want to fill out every form you get, thinking you can build up good credit for the future. However, it's best not to get too carried away, lest you find yourself taking on more than you can handle.

Is it possible to establish good credit early on in life without burrowing into debt? Of course, all it takes is a bit of research and self-control. Given the responsibility of handling one's own money need not be too daunting a task, so long as you realize the necessity of keeping a good credit standing. By showing that you are able to keep good credit now will help you in the long run when it's time to buy a car or a home, or large luxury items like a boat or motorcycle. Some companies are quite fond of offering financing plans to consumers, but in the end they want to be assured that you can eventually make all the payments. Here are a few tips for establishing a good credit base for a successful financial future.

Maintaining a healthy base with a job, bank account and bills

With most financing operations, sometimes all you need is a paystub to get your foot in the door. Therefore, it's important to maintain some longevity in the workplace and not bounce from job to job unless there is growth potential with each step. Holding down a job shows retailers and financiers that you are dependable in terms of generating income, and establishing and savings and checking account tells them that you are seriously about handling your budget. Use your checking budget to keep your bills paid on time, and seed some of what is left into an interest-bearing savings account and watch the money grow. Be vigilant during bill paying time, use a ledger if necessary to keep track of when rent, water, and gas are due. Don't become too dependant upon grace periods, particularly if you need to mail bills. Even the smallest delay with the mail service can result in a smudge on your credit record.

Investments with trustworthy people

There are times you may be called to contribute money towards a large purchase or investment. Whether you are asked to help pay off a car, or share rent, it is necessary to be aware of your responsibilities. Sharing credit responsibilities with a trustworthy person, or "piggybacking" on somebody else's credit, can work to your advantage if that person has established credit. However, such ventures can also hurt you if the other person or persons consistently default on payments and leave you holding the bag.

If ever you are called to help with a large sum of money, like car payments, rent, or a business loan, read all paperwork involved and know your responsibilities. If anything looks shady to you, it is best to avoid signing. Deal with people you know and trust - piggybacking on parents' credit is a good way to establish your own.

In Part II we will examine other ways to establish good credit for a prosperous future.

Holidays away from loved ones are never easy, especially if a loved one is stationed overseas with his or her military unit. Deployment only adds another element of uncertainty we don't want to consider. Recent years have seen thousands of our soldiers deployed to other parts of the world, missing Thanksgiving dinners and Christmas presents. Yet, while they work in a job that offers little opportunity for holiday vacations, we are able to remain safe stateside and enjoy the gifts our loved ones in the military give us daily - security and peace of mind.

Nothing warms a soldier's heart more, of course, than to receive a gift from home. Whether it's a letter or a small gift, just the simple act of jotting a note that says "I love you" brings a piece of family to an otherwise lonely place. Unfortunately, not everybody overseas is as fortunate to get such things from home. So why not strive to show appreciation for everyone who fights for us, that we may live in freedom? Why not give back to those who give selflessly for us and our country?

This year, add a soldier or sailor to your holiday gift list. You would be surprised to know how even a small care package will be appreciated by someone stationed in Iraq or elsewhere in the Middle East. In a place where one cannot simple pop over to the corner store for supplies, to receive a package mixed with practical items may be considered a luxury to some now. Just a few items one might want to consider giving include:

Hard candies and gum - Satisfy a soldier's sweet tooth with a bag of peppermints or sour fruit jawbreakers. Chewing gum is not always in easy supply overseas, too, and such items won't take up much room in a package. Avoid sending chocolates or anything else that may melt en route.

Drink mixes - Most fruit-punch and lemonade mixes are available in single serving envelopes. Send a box for a soldier's water bottle, to make a refreshing treat.

Eye drops, lip balm, travel soaps - Especially if a soldier is stationed in a desert region, days and nights can be uncomfortable. Dry heat and sand irritate the eyes and chap the skin, so such items would be greatly appreciated.

Books - Occasionally, there is downtime, yet little to do. Mass market paperbacks - romance and mysteries, thrillers and fiction - are especially prized. If you are interested in just sending books overseas, you can arrange to ship through most booksellers.

Phone cards - Small, inexpensive, and very practical. One card gives the gift of conversation with family for a soldier. Especially on holidays, this is a very thoughtful gift that can bring a soldier closer to home.

Once you have decided what to send, you will need to know where and how to send your care package. Sending a military care package isn't exactly the same as mailing within the country, as there are restrictions with regards to size and content when shipping to any APO/FPO address. A simple search on the Internet for "care packages for soldiers" will yield a wealth of information so that your package will arrive safely to a grateful soldier this holiday season.