Mortgage Loan: 3 Smart Credit Card Tips For Homeowners

Most Americans are coming to grip with the fact that we are living in a new credit restricted society. Thus, it only makes sense that we should try to exercise more care as regards handling our credit profiles especially for mortgage loan applicants.

Experts strongly recommend these 3 suggestions for proven credit improvement that will only help you when applying for a home mortgage, auto loan or new credit card:

1. Your Credit Report Must Be Checked On a Regular Basis –

One of the most important reasons for keeping close tabs on your credit score is to make sure there are no errors being reported.

Keep in mind that your credit report can either provide you with the things you want and need while saving you large amounts of money on home loan or auto interest rates.

Or as many consumers have found out it can cost you substantially if things are not in order.

One thing to keep in mind is that Federal laws allow you to order a free copy of your credit report from each major credit bureau every twelve months.

Once you receive your reports in the mail, carefully go over every entry in your credit profile and if you find any type of errors proceed to dispute them immediately.

2. Consider Opting Out Of Pre-screened Credit Card Offers –

First of all, you really don’t need numerous offers stacking up in your mail.

Then when you want a new credit card, you can do your own shopping on your own terms.

Do not make the mistake of thinking that just because you receive any type of credit card offer in the mail that you have been approved for the best rates and terms.

The standard procedure for any credit card approval requires a credit check on your credit profile to see if you qualify.

In the event your credit has taken a turn for the worse after you receive such an offer, you will most likely be offered less than favorable terms or your application or it may be declined altogether.

You can also opt-out of receiving credit card and insurance offers for up to five years or permanently with a mail-in form online.

3. If You Have Numerous Credit Cards That Have Been Put Away, Get Them Out –

New rules that took effect in August 2010 will now get rid of inactivity fees for credit cards not being used.

That being said, keep in mind that unused cards are targets for account closure or reduced limits which could have a negative impact on your credit score.

This can be avoided by using those credit cards at least once every 90 days.

Now you can keep those extra cards for emergencies or to switch out if another card rate goes up or is closed.

Retail Store Credit Cards – Benefits and Detailed Descriptions

There are hundreds of credit card offers available in the U.S market. The credit card companies compete against each other with attractive incentives such as cash back, points reward schemes and balance transfer offers at zero percent. There are lot of new offers have been introduced in U.S by worldwide banks. Among those offers, some cards are specially introduced as Retail Store ‘Credit Cards’. Among all the new credit card offers, the retail store credit cards help the card holders to easily establish a credit history. The card members can start building their credit history based on their card usage level. Also the retail store credit cards comes with lots of attractive and useful incentives such as free gifts, gift certificates and discount coupons are provided just for signing up. The Chase Amazon.com Business Visa® Card also provides a lucarative referral program that all card users referred by card member earn points for the referrer. There are certain few specific recommendable offers available in the market. Lets see their benefits and detailed descriptions.

Starbucks Card Duetto(TM) Visa®: This card offers 0% intro APR for up to 6 billing cycles, no annual fee and a wide range of Visa benefits. The card members get $10 Duetto(TM) Dollars in their Starbucks Card Account when they make their 1st Visa purchase and also get 1% of all their Visa purchases back in Duetto(TM) Dollars. The card members can earn fast and frequent rewards at Starbucks.

Borders 3.2.1 SM Visa®: The Intro APR is 0% and there is no annual fee. The card members will earn 3 points for every dollar spent at Borders®, Borders Express, Borders.com, Waldenbooks® and Waldenbooks.com and 2 points for every dollar spent on eligible Gas, Dining and Grocery purchases. Also earn 1 point for every dollar spent anywhere else. There is no cap on points earned. The card member can redeem points for Cash or Rewards.

Sony CardSM: This card provides 0% Introductory APR for up to 12 months and there is no annual fee. Provides 1,500 Bonus points after first use. The card members will earn 1 Sony Reward Point per dollar spent, 3 Sony Reward Points per dollar spent on Sony products and 5 Sony Reward Points per dollar spent at MySony. The points can be redeemed for sony products.

Toys R Us Mastercard: This card offers 0% Introductory APR for up to 6 months on the Toys”R”Us & Babies”R”Us MasterCard. There is no annual fee. The card members will earn 4 points per $1 spent in eligible purchases at Toys”R”Us & Babies”R”Us with the NEW Toys”R”Us & Babies”R”Us MasterCard. And also earn 1 point per $1 spent on their eligible everyday purchases like gas and groceries made everywhere Mastercard credit cards are accepted. Provides a 10% Savings Reward Certificate,valid at any Toys”R”Us & Babies”R”Us location, when the card members earn 1,000 points. The card members can receive up to two certificates per month.

Chase Home Improvement RewardsSM Card: This card offers 0% Intro APR for up to 12 months and there is no annual fee. provides Zircon iLine Laser Level as gift after first purchase, a $39.95 value! The card members earn up to 3 points on purchases. The card members can put their home improvement purchases to work for them by earning 3 points for each eligible $1 spent on home improvement. That’s a full 3% Cash Back! Plus, 1 point on all other purchases and interest. Points can be redeemed easily. The card member can redeem 2,500 points for either a $25 Gift Card or Gift Certificate, or a $25 check. The card members can participate in sweepstakes and they can take advantage of sweepstakes opportunities that will get them closer to their dream home!. Provides exclusive tips from the experts, work like the pros with hints and tips in every statement, as well as an exclusive e-newsletter from the editors of The “Family Handyman magazine”.

Chase Overstock.com Rewards Visa® Card: This card offers 0% Intro APR up to 6 months and there is no annual fee. Provides $25 Bonus Overstock.com Reward certificate after their first purchase. Provides more great savings such as the members can earn 3 reward points on purchases made at Overstock.com with their Overstock.com Rewards Visa card. Provides savings everywhere the card members shop. The card members also earn 1 rewards point on all other purchases, that means they earn 1 point for every $1 spent at places such as grocery stores, gas stations, restaurants and more. For every 2,500 rewards points, the cardmembers will automatically receive a $25 Overstock.com Reward Certificate.

Chase Amazon.com Platinum Visa® Card: This card offers 0% intro APR for 6 months on purchases and balance transfers, variable rate thereafter. And there is no annual fee. The card members will earn 1,500 Bonus Points after their first purchase with their Amazon.com Visa® Card. Provides free rewards that come quickly, easily, and automatically. The card members also earn 3 reward points for every dollar spent at Amazon.com, 1 reward point for every dollar spent on purchases elsewhere and for every 2,500 reward points, they’ll receive a $25 Amazon.com Reward Certificate.

Chase Amazon.com Business Visa® Card: This card offers 0% Intro APR for the priod of 6 months. There is no annual fee. The card members will earn 1,500 Bonus Points after their first purchase with their Amazon.com Visa® Card. Provides free rewards that come quickly, easily, and automatically. The card members also earn 3 reward points for every dollar spent at Amazon.com, 1 reward point for every dollar spent on purchases elsewhere and for every 2,500 reward points, they’ll receive a $25 Amazon.com Reward Certificate. Provides online quarterly management reports help the card members to track spending and zero liability on unauthorized purchases.

These are some of the recommendable specific retail store credit cards available in market.

Jagan babu vasudevan is a Financial Functional Expert, researching about credit cards for more than 7 years. Conducting surveys about credit cards. And researching how to make credit cards work for the card holders.