Most people finance their homes with mortgages and pay for their cars with loans. Young people often obtain loans to pay for college. And, of course, lots of people make purchases with credit cards.

You can't expect to receive credit as a matter of course, however. You must apply for it. And just as you would hesitate to lend money to a stranger, banks, retailers, or finance companies will not grant you credit without knowing something about you.

It used to be that a retailer or bank would have to call each creditor you listed on an application form before they would decide to extend credit to you. Today, they rely on credit reports, so it's important for you to know what is in yours.

What Is a Credit Report?

A credit report is a record of your credit activities. It lists any credit-card accounts or loans you may have, the balances, and how regularly you make your payments. It also shows if any action has been taken against you because of unpaid bills.

Where Do Credit Reports Come from?

A company that gathers and sells credit information is called a consumer reporting agency (CRA). These types of companies collect information about your credit activities, store it in giant databases, and charge a fee for supplying the information. The most common type of CRA is the credit bureau.

There are three major credit bureaus that operate nationwide, plus many smaller companies serving local markets.

What Is a Credit Rating?

Your credit rating is drawn from your credit report, which outlines your borrowing, charging, and repayment activities. A good rating helps you reach financial goals; a poor rating limits your financial opportunities.

Since your credit report influences whether you are able to buy a home and get a job, it is extremely important to protect your credit rating by making loan and bill payments on time and by not taking on more debt than you can handle.

Who Is Allowed to See Your Credit Report?

Credit bureaus can provide information only to the following requestors: (1) creditors who are considering granting or have granted you credit; (2) employers considering you for employment, promotion, reassignment, or retention; (3) insurers considering you for an insurance policy or reviewing an existing policy; (4) government agencies reviewing your financial status or government benefits; and (5) anyone else with a legitimate business need for the information, such as a potential landlord.

Credit bureaus also furnish reports if required by court orders or federal jury subpoenas. They will also issue your report to a third party if you request this in writing.

What Type of Information Is on Your Credit Report?

There are usually four types of information:

1. Identifying Information: Your full name, any known aliases, current and previous addresses, social security number, year of birth, current and past employers, and, if applicable, similar information about your spouse.
   
   
2. Credit Information: The accounts you have with banks, retailers, credit-card issuers, utility companies, and other lenders (accounts are listed by type of loan, such as mortgage, student loan, revolving credit, or installment loan; the date you opened the account; your credit limit or the loan amount; any co-signers of the loan; and your payment pattern over the past two years).
   
   
3. Public Record Information: State and county court records on bankruptcy, tax liens, or monetary judgments (some consumer reporting agencies list non-monetary judgments as well).
   
   
4. Recent Inquiries: The names of those who have obtained copies of your credit report within the past year (two years for employment purposes).

Where Do the Consumer Reporting Agencies Get Their Information?

Credit bureaus collect information from parties that have previously extended credit to you, such as a department store that issued you a credit card or a bank that granted you a personal loan.

Who Decides whether or not to Grant You a Loan?

The lenders themselves make the decision about whether or not to grant you credit. The credit-reporting companies only supply the information about your credit history.

Why Should You Obtain a Copy of Your Credit Report?

To avoid any unwelcome surprises, it's important to see a copy of your credit report before you apply for credit such as car loans, mortgages, or credit cards. Errors in credit reports can be common. Keep in mind, however, that they are not part of a conspiracy against you. They are simply the result of human error.

How Do Errors in Reports Happen?

Think about how often your mail has a misspelling of your name or a mistake in your street address. Then, imagine the possibility for error in a report that contains much more information about you. Cases of mistaken identity, out-of-date information, and outright errors can easily occur.

How Do You Correct an Error on Your Credit Report?

Contact the consumer credit reporting agency immediately. The company is then responsible for researching and changing or removing incorrect data. This process may take as long as 45 days. At your request, a corrected report will be sent to those parties that you specify who have received your report within the past six months, or employers who have received it within the last two years.

What if the Consumer Reporting Agency Stands by Its Report?

You have the right to present your side of the story in a brief statement (100 words or less), which the credit bureau must attach to your credit file. Your statement should be used to clarify inaccuracies, not explain reasons for delinquency. Anyone requesting a copy of your credit report would also automatically receive your statement (or a summary of it), unless the credit bureau decides that it is irrelevant or frivolous.

What Should You Do if You Are Denied Credit because of Something in Your Credit Report?

The lender who denied you credit must give you the name and address of the credit bureau that produced the credit report. Then, you have up to 30 days to request a free copy of your report.

The credit bureau must tell you the nature and substance of all information contained in your report. It must also tell you the sources of the information and who has received your report for the previous six months (two years for reports furnished for employment purposes).

How Long Does Information Stay on Your Credit Report?

Generally, all your credit history information, good or bad, remains on your report for seven years. If you file for personal bankruptcy, that fact remains on your credit report for 10 years.

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In a nutshell, the motorola Nextel i580 is the world's toughest multimedia phone. It makes reliable phone calls, plays MP3s like a boom box, and shrugs off shocks that would destroy lesser phones. It's expensive, but worth the price.

In the past, Nextel's phones have gone two ways—either rugged but basic, like the redoubtable i355, or powerful but less durable, like the i930 smartphone. The i580 makes no compromises, starting with durability: At 3.8 by 2.2 by 1.1 inches and 5.1 ounces, it's built like an 18-wheeler. Keys are pretty big and well separated. The monochrome, one-line external display shows Caller ID just fine, and the bright 262,000-color, 176-by-220 internal screen looks good even in sunlight.

I decided to find out just how rugged the i580 really is. Dropping it on concrete and even spiking it on a tile floor like a football didn't seem to hurt it any, though the phone does flip open when it hits the ground. Then I stuck the handset in the freezer for about 3 hours. It turned on, slowly, and reported that it had no battery. Amazingly, the phone returned to normal operation when the battery thawed. Next, I took it outside into 100-degree heat and then threw it from a second-story window onto concrete. The battery door popped off, but other than that, the phone was okay. Once I put the battery back in, the phone worked fine, with only a minor scratch in the corner of the case. Since it had hit the ground pretty hard, I decided to wash it off in the sink. The water-resistant i580 shrugged the cool spray off like a duck.

Okay, what can actually kill the i580? To make a point, I stuck the tough little phone under the wheel of a Saturn Sky roadster, which weighs about 2,680 pounds. Eight wheels later (two rolls forward and back), I'd managed to crack the i580's LCD screens—but astonishingly, the phone still worked! I could make calls, Direct Connect, and even use the camera.

The i580's durability is even more impressive because it's a really good phone. The speaker is extremely loud and unusually clear when making calls outdoors and doing Direct Connect. Push-to-talk sounds positively gorgeous. Indoors, you can hear a little bit of background hiss in the earpiece. The phone connected to Plantronics bluetooth headsets easily, and you can trigger voice dialing over Bluetooth (though voice dialing relies on recorded tags and is not speaker-independent.) Also, since the phone is designed for loud environments, ringtone volume and vibrate power will literally knock your socks off. Battery life was solid, too. The i580 yielded 7 and a half hours of talk time.

The built-in MP3 player uses a pretty handsome interface, playing MP3-format songs off a microSD card (a 64MB card is included) through the powerful speaker. It's quite audible outdoors. Unfortunately, you can't assign your MP3s as ringtones, but that's the usual deal for most U.S. phones. A 1.3-megapixel camera takes somewhat dim, soft photos. Low-light performance isn't outstanding, but it's not awful for a cameraphone. The video mode captures the usual 176-by-144, 15-frames-per-second cameraphone videos, up to 10 seconds long.

The i580 also does well at geekier uses: It has no problem transferring photos to and from PCs and Macs over Bluetooth. On my tests, I discovered that the phone will also work as a Bluetooth laptop modem for both PCs and Macs, though at dreadfully slow speeds, around 20 Kbps. Nextel packs in a few other nifty features here, too: Java Web browsing, GPS location services, its off-network Direct Talk walkie-talkie system, and the ability to download its Mobile Email Enhanced client, for example.

The Nextel i580 sets a new standard for Nextel, bringing together maximal features and rock-solid durability. Sure, you'll pay extra for that. If all you need is a purely voice-oriented rugged phone, the i355 will certainly suffice.

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A diagram showing the front side of a typical credit/debit card.

• (1) is the bank logo.
• (2) is the EMV chip (commonly referred to as 'Chip And Pin')
• (3) is the Hologram
• (4) is the 16 digit card number
• (5) is the logo of the card type
• (6) is the expiry date
• (7) is the name of the cardholder

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The plastic credit card with a magnetic strip many people carry in their wallets or purses is the end result of a complex banking process. Holders of a valid credit card have the authorization to purchase goods and services up to a predetermined amount, called a credit limit. The vendor receives essential credit card information from the cardholder, the bank issuing the card actually reimburses the vendor, and eventually the cardholder repays the bank through regular monthly payments. If the entire balance is not paid in full, the credit card issuer can legally charge interest fees on the unpaid portion.

Individual banking institutions have their own policies when it comes to credit card applications. Customers may seek either a secured or unsecured credit card, depending on their individual repayment histories. A secured credit card requires the applicant to deposit an amount of cash equivalent to the credit limit desired. A deposit of $1500 USD, for example, should be enough to be issued a credit card with a $1000 to $1500 spending limit. If the customer fails to make sufficient payments, the deposited money will be used to satisfy the credit card debt.

An unsecured credit card, on the other hand, is generally issued to those who have a good and have demonstrated an ability to repay the accrued debt on time. Credit limits are determined on an individual basis, and may be raised or lowered based on performance. An unsecured credit card is essentially a pre-approved loan, with higher than a similar personal bank loan. The main benefit of any credit card is instant access to more cash than you may have on hand. A recent college graduate, for example, may have to purchase a business suit for employment purposes. Earning the $200+ USD needed for an average suit could take weeks, and he or she needs the suit in order to earn the income. Putting the suit on a credit card would be the ideal solution; the borrower could repay the balance with his or her first paycheck and few interest charges would accrue.

Credit card use often becomes problematic when the holder accrues more debt than a regular monthly payment can cover. The issuing bank does allow credit card users to carry over balances every month (revolving credit), but significant interest rates may also accrue on those balances. Missing a scheduled payment can also prompt the bank to raise interest rates on a delinquent account. If a credit card holder can only afford to pay the minimal amount due every month, he or she will not be reducing the actual debt incurred. The minimal payments may only apply to the accrued interest. This is a financial spiral many credit card users may experience if they don't use proper spending restraint.

A credit card does give the holder an immediate credibility for services such as hotel reservations, car rentals and airline ticket reservations. Those without a credit card often have to guarantee their reservations with cash deposits or several forms of identification. Many credit card plans also include insurance coverage for theft fraud . If a credit card is reported stolen and then used illegally, the cardholder would not be held responsible for unauthorized charges. A credit card holder can authorize other people to use the card for purchases or services, however. Ultimately, the primary cardholder is responsible for all charges placed on his or her account.

A credit card is not a requirement for successful living, but even those who only pay for goods or services with available cash often find a credit card to be a convenient form of identification and instant credibility. In order to avoid excessive credit card debt, the holder must decide if the goods or services are worth the added expenses.

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Extended stay properties operate under several banners, brands and models, but all share the characteristic of offering guests accommodation for five days or more without the usual additional services of a full-service hotel. They generally fall into one of three categories:

• All-suite hotels;
• Apartment hotels or ‘aparthotels’;
• Serviced apartments

The concept of extended stay hotels dates back to 1974 when Marriott opened its first Residence Inn in the US. Since then the extended stay model has achieved strong growth in the US. The commonly-accepted definition of ‘extended stay’ in the US market is a hotel with selfcatering suites where guests stay for five days or more, but which usually does not offer the ancillary services such as bars, restaurants and porterage provided by fullservice hotels.

In the US today, 20 per cent of hotel stays are estimated to be five nights or longer – much of that accounted for by extended stay locations. Customers are mainly business travellers and include employment categories such as construction workers. The healthy growth in the extended stay sector has been driven by the geographical size of the US, and demand among travellers staying away from home for more ‘homely’ and value for money accommodation than the full-service hotel. The trends towards secondments and more flexible use of human capital have further strengthened demand. As the extended stay market has grown and become more sophisticated in the US, it has segmented into budget, mid-tier and upscale offerings.

When should you consider long-term studio suite accommodations?

• Working on an extended project away from home
• Going away on a budget vacation and still prefer to have a kitchen and access to laundry
• Remodeling or buying a home
• Relocating to a new job
• Visiting relatives

What can you look forward to at Extended Stay Hotels ?

All suites come with a fully-equipped kitchen, appliances and linens

Unlimited local phone use, a computer data port and personalized voice mail

Housekeeping and guest laundry facilities

Select properties offer exercise centers and pools.

Wi-Fi high speed Internet access available in every room - chain wide.(possibly)

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When looking for consolidation of private student loans program, first of all one must know all the costs in exchange for the loan borrowed. The most important cost is the fixed cost or likewise known as origination fees. Such costs are supposedly to cover whatever paper works needed in order to process the loan. This fees as the name implies are fixed and so whatever amount of loan that you might borrow, the fees that you need to pay will be the same.

Origination fees are actually a percentage of the total amount of loan. When you are able to acquire low rates of interest for your consolidated student loans, you will however have to deal with higher origination fees.

Because of the current competitive nature of the services on consolidation of private student loans, many lending companies are willing to discount the fixed costs. Some are even afraid not to get loan clients that they completely slash these costs off. This means with just a little more effort in online research, you can actually find a lending company that will change you such costs when availing of their student loan consolidation services.

Imagine the savings that you can enjoy if you obtain a program on consolidation of private student loans with no fees to worry about. Just make sure before you sign a contract with your choice of lender, this clause of non-payment of origination fees is present on the terms and conditions. Great move on lenders to disregard such costs as this entices prospective borrowers to employ their services. On the other, the students further enjoy having less financial responsibility to worry about, which is why they are getting loan consolidation program in the first place.

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A college student knows how expensive it is to stay as one until the time comes when he is finally able to receive his degree. And for some, the only option that they have to take is getting college loans in order to pursue their studies. Tuition fees, books, board and lodging, and other incidental expenses - these are the necessities that one has deal with and pay via many loans in order to maintain good academic standing. However, when the time comes when the repayment of such loans must be faced by the student, he realizes that great burden of doing so. And because of this, student debt consolidation loans can be availed to ease up the financial burden and stress being experienced by the student borrower.


What are student debt consolidation loans? These are the type of loans that are meant to replace the multiple loans initially gotten by the student; it is the consolidation of private student loans as well as government debts. In other words, they are new loans in place of all the burdensome studebt loans that you have obtained during your early years as student. They also help by providing you with a payment plan that are easier and more convenient for you; they can be in a form of smaller, more realistic monthly payments.

Student debt consolidation loans offer smaller payment amount because they have lower rates of interest. With lower rates and payment, you are now given the chance to pay your new debt on time - without fail. Consequently it help you make significant improvement on your credit standing. Of course, as you were able to do away with your previous lenders because of the new loan, it also helps in the improvement of your credit.

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