Business Question and Answers

How to make money from interest.?

admin — Sun, 27 Jul 2008 06:58:44 +0000

I signed up for a 9% p.a. ?? NetBank Saver account with the Commonwealth Bank. How do I make as much interest as possible from this??

Do i have to make regular deposits of a certain amount?

answer from chinatrade114.com small business QA

You’ve to have a Streamline account which requires you to deposit $2000/month in order to avoid fees. To maximize your interest, you should transfer all the money in your Streamline account to your NetBank Saver account since the interest rate in the NetBank Saver account is much higher.

answer from chinatrade114.com small business QA

This %26quot;INVESTMENT GUIDE%26quot; is more helpful for you to make your money to make money for you,without taking any risk.

To gain more information TO MAKE MONEY BY INVESTING YOUR INTERESTS,just gothrough the site

http://www.savings4future.com ………

GOOD LUCK

Tags: Employment, Investing business, Insurance business

Can I deposit a paycheck into an ATM ?

admin — Sun, 27 Jul 2008 06:52:44 +0000

My bank is Washington Mutual (WaMu) and was wondering if as long as I sign the back of the pay check if I could just deposit through ATM without the hassle of going in and waiting in line.

answer from chinatrade114.com small business QA

Sure you can, however depending on what your holds are (if any) you may not get access to the funds for 5 business days or you may only get part of the money again depending on what your immediate access to cash is.

answer from chinatrade114.com small business QA

Of course, you can. Make sure you get a receipt and keep it until your balance includes that deposit, though.

answer from chinatrade114.com small business QA

Yes, but it may take a little longer to post to your account. I mainly use the ATM for after hours.

answer from chinatrade114.com small business QA

yes

Tags: Insurance business, Taxes Business, Advertising business

Improving my credit score without credit cards?

admin — Sun, 27 Jul 2008 06:52:42 +0000

Hi all!

I have read that you can only improve your credit rating if you have a credit card.

Unfortuately I have a poor score and would like to know if you can actually build up to an good score without the need for a credit card.. Also how long approximately would it take to build a good credit reputation?

My main source of borrowing credit is catalogues.at the moment. I am doing a lot better in making payments on time!

answer from chinatrade114.com small business QA

No, not true. It is important to be on the electoral roll. If you are not on the roll or have been at the same address for less than 3 years this will affect your rating. All kinds of loan agreements will improve your rating, credit cards, store cards, pay monthly phones, bank loans, mortgages. Missing payments adversely affects your rating. Information is retained for 6 years so you can completely rebuild your rating in that time and improve it in between each year. It is worth getting credit reports from the major agencies to make sure the information is correct. Sometimes if you change address, companies don%26#039;t allows provide the correct updated information to the agencies

answer from chinatrade114.com small business QA

No, that is a myth!

Most lenders prefer to see a history of payments on big ticket items such as mortgages, auto, boat, RV and personal loans. These types of credit are what really build ones credit reports.

Due to the ease of getting credit cards, lenders do not pay much attention to this type of debt unless it has a really poor history. Your best bet is to include in your history, a large purchase such as mentioned above.

Try to get a small personal loan under $5000 from your bank or credit union. If you do get it, put the funds aside and pay it off in a few months. The small cost of the interest paid is worth the boost to your credit report. Been there Done that and it works.

Hope this answers your question.

answer from chinatrade114.com small business QA

Late last year PRBC and FICO joined forces to create a new type of credit report that utilizes rent payments, utility payments, etc. to build a credit history.

It takes about six months after your %26quot;free%26quot; signup before you can ask for a validation report which costs about $10 or so. That creates your no-credit-card credit report. You can find more information at the link below.

answer from chinatrade114.com small business QA

The point of the credit rating system is to show how responsible you are with credit, so in order to improve your credit rating, you will need to prove that you are capable of repaying debt, this can be credit cards, overdrafts, loans (inc shop loans i.e. for TVs), etc.

Why don%26#039;t you apply for a credit card, and use that. Just remember to pay off the balance each month, and you won%26#039;t be charged any fees/interest, and you%26#039;ll be able to build a strong credit rating.

answer from chinatrade114.com small business QA

Are these catalogues reporting to the credit bureaus? If they%26#039;re not, then it%26#039;s not helping you!

A %26quot;credit score%26quot; is just that, a score based upon your credit usage history. You must have some type of actual credit to have a history.

If you don%26#039;t like credit cards, try a bank loan.

Or, a secured credit card!

answer from chinatrade114.com small business QA

No not true! Credit cards are not the only way to create credit. Mortgage, student loans, car loans or any bank loan would do… credit cards seem easier because they are so available.

answer from chinatrade114.com small business QA

Making regular loan payments on time is the only way to up your credit rating. If you ask for a credit rating check with Equifax or Experian from time to time you will see how you are doing.

answer from chinatrade114.com small business QA

your last phrase said it all –pay on time and keep your balances at less than 30% of allowable credit and your scores will go up over time

answer from chinatrade114.com small business QA

Get a catalogue. Get goods pay for them week by week. And walla!

Takes time tho. Good luck!

Tags: Personal Finance Business, Investing business, local business

Turning in a car that we owe money on bad for credit?

admin — Sun, 27 Jul 2008 06:52:35 +0000

okay my husband has a truck which he doesnt want anymore it eats a lot of gas! so the more money. he wants to lease another car that doesnt eat so much gas and turn in his truck and simply tell the dealer he cannot afford the truck anymore. we want to know how bad will that mess up his credit? keeping in mind he has leased another car will be making monthly payments for that car and also he has credit cards he will keep paying. also he cant turn in his car and get something else because he owes too much on the truck. so doing as said how bad will his credit mess up? please help us do you recommend he does this? safe or not? not good for your credit? keep the truck? or lease a car and turn in the truck? sorry so long. thank you for taking the time to read this

answer from chinatrade114.com small business QA

Auto finance is what I do for a living and they can but only if they take him to court first and get a judgment, at that point they can garnish wages (if your State allows it), attach bank accounts and file liens on any other property he may own like cars, boats, land and homes does not matter if the property is joint.

All of this will show on his credit for the next 7 years and make it very hard to get any other type of loans without making massive down payments, paying huge fees and State maximum interest rates.

He would be much better off selling the vehicle and taking out a loan for the balance, that way his credit is still intact.

answer from chinatrade114.com small business QA

What state do you live in, for instance in texas they cannot take you to court, they can not garnish your wages all they can do is verablly threaten you and send you nasty letters all they can do is ruin your credit for 7 years.

answer from chinatrade114.com small business QA

This is all too common lately. I guess it boils down to what is more important to you. Your credit rating or your gas money. I understand the price of fuel has effected everyone and some people have to make some hard decisions.

As far as your credit, this will have an effect for about the next 7 years or so. You will be hardest hit intially when the REPO hits your credit report. The good news is the algorithms used to calculate credit scores for the 3 major bureaus really only takes into account what you have done in the last 24 months. Anything more than 24 months old has a small to negligable effect on your credit score even though the bad lease/loan will stay there for around 7 years. The bad news is it will cost more to borrow money again in the future. So even though you might be saving in gas, any future loans or credit will probably come with higher finance charges and you might even get turned down for loans you previously would have easily qualified for.

It all depends on your situation but I have had clients do this only to have the repo ruin opportunities or chances for credit a few years down the road. They had an opportunity to buy a house cheap and knew a buyer who would move in relatively quickly. The loan got turned down and they missed out on an opportunity to make ten%26#039;s of thousands of dollars. I%26#039;ve had other clients recover nicely so there is light at the end of the credit tunnel but you need to really think about what your future plans are.

I would keep the truck personally as long as you can afford it. Yes you may need to cut back in other areas but it may be worth it in the long run. However, if it keeps you from making that mortgage payment or put food on the table, you might want to consider letting the truck go.

As far as how much of an effect it will have on your score, that is hard to tell but in my experience, I%26#039;ve seen a 720 score go down to 590 score after a repo.

Good luck.

answer from chinatrade114.com small business QA

It will be viewed the same a a repossession although voluntary the exact same just the repo man did not have to come out and get it. So yes credit is shot (expect to be low 500%26#039;s) for 7 years and they will sell it at auction for penny%26#039;s on the dollar, and file suit against you for the remainder, if they get the judgment then wages can be attached along with tax returns etc. Dealer will not take back the truck by the way, but the loan company will.

answer from chinatrade114.com small business QA

With regard to credit, a voluntary repossession is as bad as a regular repo. It will hurt your score/profile badly for the next several years. Although no one can accurately calculate how many points, you should expect at least a 100-point drop in score.

What is the value of the truck and how much do you owe. If the balance due is close to the trucks value, sell it privately and pay it off even if you have to pay additional funds out of your own pocket. You do not need to have the title to sell it, there is a form you fill out from the DMV to do this.

If this has not happened yet, you should avoid it at all cost. A repossession is one of the worst things that can show on your credit report. Once the vehicle is repossessed, the lender will sell it off in an auction. Not only will they come after you for the difference but they will also add all costs for the repossession, towing, storage, auction, reconditioning, late fees, interest, lawyers and anything else they can think of.

This could amount to several thousand dollars and if you do not pay, they can take you to court, get a judgment and then attach bank accounts, garnish wages (if your State allows it) and file liens on any other property you may own like land and homes

Hope this answers your question.

LEGAL DISCLAIMER: The advice contained herein is for informational purposes only. It is not to be construed as Legal Counsel nor Legal Advice.

answer from chinatrade114.com small business QA

my husband and his ex got a lemon car and tried to give it back to dealer. dealer refused so they sold it or whatever. dealer still charged them to pay on it. because they didn%26#039;t, it went on their credit as bad. so i would say, find someone to buy it off him and take over the payments. or keep it until it is paid off and do not drive it unless you have a lot of errands to do that require a truck. can the dealer maybe work with him to exchange the truck for a smaller car where he is buying the truck. if they want repeat business and good word of mouth from you guys, they should workd with you. otherwise, dog the company.

Tags: local business, Investing business, Real Estate business

How can I immediately cancel a Macy's Card?

admin — Sun, 27 Jul 2008 06:52:16 +0000

I recently signed up for a Macy%26#039;s card this day but didn%26#039;t use it at all. The store clerk told me that it wasn%26#039;t a credit card and that I%26#039;d have to call, but after reading the information I realized that there were no %26quot;regular%26quot; store cards (for free benefits and such). She told me the card would come in the mail. Either way, I feel quite ridiculous, and hope that it isn%26#039;t one :

answer from chinatrade114.com small business QA

It sounds like you have the same Macy%26#039;s card that I have. It%26#039;s a red Star Rewards card with no Visa or Mastercard logo on it, but it functions like a credit card with Macy%26#039;s.

I thought it was a credit card too, which it is because it will show up on your credit report. The missing Visa/MC logo is what only grants you to purchase at Macy%26#039;s with it.

If your card is in the mail, wait for it to arrive, then cancel it. Or, what I did instead of cancelling mine, was to use it like a coupon card. Macys.com always has tons of extra online savings that apply only to Macy%26#039;s cardholders. So when I want something f/ Macy%26#039;s, I pay with the card when they%26#039;re having a sale to get the additional savings, then I pay the balance within the next week or so. I don%26#039;t spend more than what I can afford, so I don%26#039;t have to worry about coming up with the money later. It%26#039;s a nice way to spend money on myself without regretting it later.

If you don%26#039;t want to use the card at all, you could always deactivate it and let it sit on your credit report. It will remain on your report as an account in good standing and it will look like you%26#039;ve maintained an excellent record over the years with them. I did that with an old Discover card and now creditors think I%26#039;ve paid on time for the last 10 yrs when in fact it%26#039;s not an active card and I never used it because the finance charges were like 25%. Also, because the card is deactivated, no one can use it even if they manage to steal the card or the card number. Awesome for someone like me who is a former identity theft victim.

If you don%26#039;t like any of those ideas, then call 866-593-2543 for Customer Service. That%26#039;s the number on the back of my card. They should be able to help you out although you haven%26#039;t received the card yet and don%26#039;t know the card #.

answer from chinatrade114.com small business QA

You can call Macy%26#039;s Credit card dept or customer care and get the card canceled. I%26#039;d advocate that you keep it because having 2/3 store cards are not bad. You can get discounts, special offers, and easy payment plan on big purchases with no interest.

answer from chinatrade114.com small business QA

Nooooooooooo don%26#039;t cancel it. If it%26#039;s a store credit card you want to keep the history. Just cut the card up so no one can use it and you get the benefit of the long term history on your credit report.

Tags: Corporations, Investing business, Advertising business

If my bank goes bankrupt who will service my loan. Yes, my mortgage is with the bank not a3rd party.?

admin — Sun, 27 Jul 2008 06:52:13 +0000

What happens to loans when the bank closes or goes out of business. For instance I had over 5000 in credit that I owed COMP-USA. When they closed that was written off.

answer from chinatrade114.com small business QA

Federal Deposit Insurance and Central Bank will designate collection office as a part of receivership program to help liquidate assets, collect payments and pay depositors. If you still have outstanding loan balance to date, you should pay to the designated collection agent otherwise, it will incur penalties and surcharges. On the issue of accounts written off, it would not be easy to write off accounts. Banks needed to defend why an accounts must be write off. It may be an aging accounts of a bankrupt individual with no source of income and properties, it may be for a reason that borrower dies while his account still active… ect… Sometimes, these accounts were submitted to the courts for a decision on matters of Tax Credits… Remember, non-payment of such will affect your ratings in the future….

answer from chinatrade114.com small business QA

The Federal Deposit Insurance Corporation will seize your bank, and then sell its portfolio, in whole, or in pieces, to solvent third parties.

Watch your mail carefully. You will get mail from whoever buys your debt.

The conditions of your loan won%26#039;t change, but details of how you pay may.

At CreditCards.com, just yesterday morning we published a story about how credit card debt is distributed after a bank failure. Substitute the word %26quot;mortgage%26quot; for %26quot;credit card%26quot; and you%26#039;ll get the picture. It%26#039;s at: http://www.creditcards.com/credit-card-n…

answer from chinatrade114.com small business QA

Pay to the address you have agreed to until further notice. When a bank goes bankrupt, there is still business that has to be attended to, and there are people to do it.

Tags: Personal Finance Business, local business, Business Finance

Someone stole my identity and ruined my credit?

admin — Sun, 27 Jul 2008 06:52:10 +0000

There is one credit card from a bank and others from stores that I%26#039;ve never been in! These stores will not give me any information on the paperwork filled out to obtain the credit card, where the credit card was sent to or even the store location that they went to. I%26#039;ve contacted customer service, fraud dept… you name it. NO ONE IS HELPING!

Is the ONLY possible way to get this information to sue them?

I AM SO MAD! AHHHHHHH!

answer from chinatrade114.com small business QA

You need to pull all three credit reports immediately and dispute the living daylights out of all of them.

You need to report it to the police. The paper trail here will help and show you%26#039;re serious.

You need to put a fraud alert on all three reports, and freeze your reports as well.

These are first steps.

Next, call the credit cards and have them do a charge back on each charge. The store where merchandise was purchased must product a signed receipt. If they can%26#039;t, you get the money back on the card.

Ask for proof that you signed, how they came to identify the person who applied (drivers license, passport, etc)

Tell the card company you wish to close the account.

Read up on it too:

http://www.uscg.mil/Legal/la/topics/cons…

answer from chinatrade114.com small business QA

Hopefully you filed a police report and contacted the credit card company so you are not responsible for it.

Sadly, most of the time, the credit card companies don%26#039;t care about fraud and do very little about it. They right it off as a %26quot;cost of doing business%26quot; and pass the costs onto you, the consumer.

Who do you want to sue? The credit card company that was the victim of the fraud? That won%26#039;t go very far and I%26#039;m not sure what it will accomplish. Under Federal law, you are not responsible for the fraudulently obtained credit cards.

answer from chinatrade114.com small business QA

you will need to contact the credit bureau to file identity theft. they wiil be able to assist you in handling the credit card companies to research and close those accounts. you may also have to get a new social security number. even if you were able to get the card companies to close those accounts and fix everything the thieves can just reopen more cards, buy a car, etc… somewhere else with your social

answer from chinatrade114.com small business QA

contact an attorney

Tags: Employment, Business Finance, small business

Help!!!Who can find direct email contact to Aeropostale. not thru help desk?

admin — Sun, 27 Jul 2008 06:52:07 +0000

I couldt get thru their phoneline, so I only can send them mail thru their help desk but the answer I got just sucks. and not helpful.

recently I have a very bad experience to deal with aero`s help desk. because they have problem to understand how badly their item.they just sent me a really damaged bikini. basically I really like to talk to their manager or higher . the bikini wasnt expensive but I wanna them know customer wasnt fool. I am afradi if I make another order I will get another damaged one. they just treat their customer like ****. you can not trust their online shop,because they will send out damaged item and you have to pay for return it. is really disappoint. the whole online shop is provide customer an easy and painless shopping expeirence but aeropostale.com just make it more difficult for people. I really doubt I will go back again until they fix their problem.

if anyone know how to contact them on email directly I will be appreciate. thanks

answer from chinatrade114.com small business QA

They want to seel products and are not interested in being readily available to the comsumer for any problems.

Tags: Real Estate business, Careers, Personal Finance Business

Is wal-mart good for america (america as a whole) ?????

admin — Sun, 27 Jul 2008 06:51:42 +0000

growing up i thought one way, but then as soon as i saw a video about the behind the scenes of wal-mart and how it operates my view totally changed.

so whats your view?

answer from chinatrade114.com small business QA

No. They’re scum. They are predatory with suppliers, they run small businees out of town, they purchase rom China and countries with child labor, their employees are any state%26#039;s largest recipients of medical care costs because they underpay and do not provide healthcare insurance.

Their clientele think they’re buying American. They are not.

answer from chinatrade114.com small business QA

I feel bad for those workers abroad, but what can you do. America is dirt poor in our own eyes, so we don%26#039;t care.

Tags: business, Insurance business, Advertising Marketing

Why Starbucks is closing their stores?

admin — Sun, 27 Jul 2008 06:51:31 +0000

Starbucks Corp. has released a list of stores that’ll be closing in July.

The latest list can be found at http://www.starbucks-closure-list.com

answer from chinatrade114.com small business QA

Starbucks has made the same mistake as many other up and comming chains….growing too large too soon and charging too much!!!

Example…Starbucks caramel frapp. in the big or %26quot;venti%26quot; size is nearly $5. Tim Hortons sells the same product named an %26#039;iced capp%26#039; for around $3. McDonalds now has their version %26#039; frape%26#039; for around $2.50.

What this tells me is McDonalds is making $$ at 2.50 that means the additional 2.50 charged by Starbucks is PURE PROFIT!!! The public has realized this and is no longer shelling out the large bucks for ice mixed with coffee.

A store that is missing off from that list is Ludington MI. This store is extremely poorly placed and very difficult to get in/out of. Terrible location, high priced and worthless. Close this store too and open a Tim Horton%26#039;s someplace more convenient!

answer from chinatrade114.com small business QA

Because they’ve over invested in stores and with the current economic situation, they are going to have to shut a load of them and sack a load of people, I cant stand a pretentious shop in which you’ve to know their product range to prevent you from being embarrassed by a student part time worker at the counter. I have the ability to buy myself a full pack of high quality, single source, freshly ground coffee from the poshest grocer in town for the price of a big latte in Starbucks

answer from chinatrade114.com small business QA

These are company owned stores (as opposed to franchises) which have proven not to be profitable….most likely due to location and/or poor management.

answer from chinatrade114.com small business QA

they over saturated the coffee market, in other words there are too many coffee shops out there and too much competition and starbucks coffee is high-priced and profits are down

answer from chinatrade114.com small business QA

Probably too much competition, look around starbucks used to be the one and only ideal coffee. Then everyone got into the coffee game which I now think they’re not drinking as much now

answer from chinatrade114.com small business QA

maybe because theres not much customers?

Tags: Credit business, Advertising Marketing, Real Estate business