What Should You Do if You Get Turned Down for

What Should You Do if You Get Turned Down for a Credit Card?
So you've gone through the long and terrible process of giving your details, only to find that you got turned down. This can feel a little insulting, like a rejection, especially if you feel like you could easily handle the card in question. So what can you do if it happens?

Try, Try Again.

Don't get upset if you're turned down at one company - they might have some strange requirement that you happen not to meet. Always try three before you start to despair.

Whatever you do, though, don't spend a whole day applying for every credit card you can find, just to see if anyone will take you. Each check is counted, and lots of checks on your record make you look desperate, making it even less likely you'll get a good card - this is known as 'shotgunning' your credit.

Get Your Credit Report.

Send off to the credit reference agencies to get copies of your credit reports. There might be something incorrect on there that's making you look bad, and you need to get it corrected if there is. Make sure you do all this in writing, so there are records of it - don't phone up and let them fob you off.

Phone the Company.

It's not a good idea to always deal with credit card companies by post or on the Internet - you should try to phone them up and speak to a real person. This way, you can tell them all your circumstances, make sure everything went through correctly, and question them if you get turned down. If you directly ask why you haven't been accepted, then they usually have to tell you.

If you're willing to be pushy, you might even get the decision reverse. If the person you got through to won't budge, then always ask for their supervisor before you hang up.

Apply for a Less Prestigious Card.

Yes, I know, it sounds bad - but you want a credit card, don't you? Get a high-rate card from the company whose card you want, and then pay it off on time each month. You're building your credit rating. The chances are that you'll be able to persuade the company to replace your card with the lower-rate one after a few months.

If you have a very bad credit rating, you might find that you are only offered secured cards. These cards require you to make a cash deposit before you can start using them. It's worth saving up the deposit and using the card for a while, though, as you'll usually be offered a normal card quite quickly, as long as you don't do anything terrible with the secured one.

If that all sounds like too much trouble, then you might like to try a pre-paid credit card. These cards must be loaded with money in advance, but from then on work like a normal credit card - except you don't pay any interest or fees! Well worth it if you only wanted a card for the convenience anyway.

What To Do When Your Credit Card Is Lost Or

What To Do When Your Credit Card Is Lost Or Stolen
Unfortunately, wallets and purses do get stolen or lost on a regular basis. Your biggest concern is usually the fact that your credit cards are missing. If this happens to you, do you have a plan of action? Well, you should. It really isn't as daunting to come up with a credit card action plan as it seems like it should be. All reputable credit card companies have a set policy that helps to protect you against loss or theft. All you need to know is how to get this policy to work for you.

Help! My Credit Card Was Stolen!

Never fear, help is here! The first thing you need to do is report the stolen card to the company as soon as possible. Most companies have a toll-free number or an online service that deals solely with this problem.

Fortunately for you, federal law dictates that you are only liable for the first $50.00 of any fraudulent charges made on a charge card. Still, you are required to report the lost or stolen card even though you're not going to take a huge hit. Here's a little extra incentive to make the call fast: If you report the loss or theft before any unauthorized use, you don't even pay the $50.00.

Many card issuers are waiving the $50 exposure, so check the details on your credit card offer.

After the card is gone, make sure you pay attention to every charge on the bill. Whatever shows up that isn't yours, notify the card company in writing immediately. Make sure to include in the letter the date in which you notified the company that your card was lost or stolen and send it to the billing errors address. Do not send the letter with your payment. It will get lost in the shuffle.

If your card was a debit card, things may work a bit different. The amount of liability you are responsible for depends directly on how quickly you report it lost or stolen. If it is done before it has been used, again you are not responsible for any fraudulent charges. If you wait, even as little as two business days, you could be held liable for up to $500.00 of any fraudulent charges found on the card.

Once your card is gone and you have reported it, review your bills. Make your bank aware of any questionable deductions from your account that occurred during the time your card was lost or stolen. A phone call is great, but follow it up with a certified letter and include the day you reported your card stolen or lost. This should absolve you of any liability.

The best way to avoid stolen or lost cards is to keep track of them. Know where they are at all times and keep your pin number a secret. Also, don't use a pin number that is easy to figure out such as your birth date or phone number. Make it a number that only makes sense to you and keep it that way.

What You Need to Know About COBRA InsuranceCOBRA, also known

What You Need to Know About COBRA Insurance
COBRA, also known as 'The Consolidated Omnibus Budget Reconciliation Act' of 1985, is a federal law that ensures that a person's health insurance coverage will continue for up to 18 months after the date of his or her termination. Most companies that offer group health insurance to their employees are subject to COBRA and certain situations can extend this deadline from 18 months to 29 months and even up to 36 months.

Who Benefits from COBRA?

COBRA insurance protects those who have lost their job against simultaneously losing their health insurance benefits. COBRA is a temporary measure that's designed to help individuals through this potentially difficult time. Not every terminated employee qualifies for COBRA insurance, but all employers know whether these rules apply to their company and their employees. The law enables a terminated employee to buy health insurance for himself (and his family if he had family coverage while employed) at the group rate even though that employee is technically no longer part of the group. The price of coverage is high and the former employee is responsible for paying 100% of the cost each month, plus a 2% surcharge.

COBRA kicks in when an eligible employee is terminated, laid-off or experiences some other type of change in his or her employment status (such as reduced hours, or divorce from or death of the eligible employee). COBRA continues according to the schedule above or until the terminated employee is covered by an individual health insurance plan or another group health insurance plan.

Employers are required by law to notify eligible former employees of their option to purchase health insurance through COBRA. Employers need to also specify the cost for this coverage. Those receiving this notification have up to 60 days to accept COBRA coverage.

Because COBRA basically extends a terminated employee's health insurance for a period of 18 months, those who participate in COBRA need not worry about a change in their benefits. Coverage itself does not change; the only change is the person responsible for paying the monthly premium. All family members who were covered prior to termination remain covered during the course of COBRA as well. In fact, the only way that coverage will change is if the person's former employer changes the health insurance plan it is offering to its current employees.

COBRA Designed to be Temporary

The important thing to keep in mind about COBRA is that it is intended to be used as a temporary measure. It guarantees you won't be without health insurance for 18 months, but once that period expires, you will find yourself without health insurance if you have not secured it otherwise, either from a new employer or by obtaining an individual health insurance plan. And, although it's unpredictable, you never want to find yourself in a situation where you detect for the first time a serious medical condition (such as cancer) while covered under COBRA. Such a situation could cause you to become 'uninsurable' later on because you've since developed a pre-existing condition.