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BoatU.S. WorldPoints Platinum Plus Visa

Card issued by Bank of America, N.A. (USA)
Earn 1 point for every net retail purchase dollar spent and redeem your points for travel, merchandise, gift certificates, and cash§
Access to the MyConciergeSM service, a unique personal assistance service**
Absolute fraud protection against unauthorized use, online and offline
No annual fee

A flexible and unique rewards program that puts you first. Select from cash back, travel, merchandise or personal services that are yours for the picking.

BoatU.S. Platinum Plus® Visa® Cards.

• No annual fee
  
• Absolute fraud protection
  
• Online access and 24-hour service
  
• Access to the MyConciergeSM service, a unique personal assistance service
  
• Introductory 0% Annual Percentage Rate (APR)† for Cash Advance Checks and Balance Transfers through your first twelve billing cycles.* (subject to a 3% transaction fee, no less than $10)
  

DID YOU KNOW?

	The prospects of obtaining a loan, credit card or bank account with adverse credit history is NOT impossible, especially if you’re a homeowner. Tenants can also apply for loans from unsecured loan brokers - sometimes referred to as “Loan Sharks.” It is estimated that, in 2006, over £32 billion of unsecured lending and £8.8 billion of secured loans will be used for debt consolidation. According to research from Datamonitor, more than one in ten consumers has problems meeting their credit card debt repayments. At the end of February 2005 the total UK personal debt was £1,073bn. The competition between lenders is often fierce, with each one competing to give you great incentives such as a FREE DVD Player or Cash upon completion. But how do you know which lender to choose and will your loan application be approved? Read our 5 Quick Tips on How to Get Credit Online TWO’S COMPANY 1. Joint loan applications are often more successful. If your partner is working full/Part-time consider asking him or her to apply with you, if they can afford the monthly loan repayments? Lenders will consider both your financial incomes and credit history, which could prove favourable. CAN YOU AFFORD IT? 2. Don’t borrow more money than you can afford to repay, always use a loan calculator where possible to work out your monthly repayments. Or ask for a written quotation. TO BE SECURED OR NOT TO BE 3. Secured loans range from £1000 to £250,000 and they’re a great way of releasing equity on your property. Repayments range from 3-25 years depending on your circumstances and rates can fluctuate. Ccj’s, Mortgage Arrears, Defaults and no proof of income are accepted by specialist lenders. APR (Annual Percentage Rates) may be considerably higher if you have adverse credit. READ THE LABEL 4. It’s not unusual for loan companies to charge adverse credit customers a fee upon completion of a loan. Fees vary depending upon the lender and the clients circumstances. Always read the small print before you sign the dotted line. YOU SHALL GO TO THE BALL 5. Compare lenders before you apply, you may have been declined in the past but this doesn’t mean other lenders won’t accept you. If in doubt seek independent financial advice, the FSA (Financial Services Authority) has useful links to financial advisors.

You need a cash advance immediately, but are too shy to ask relatives or friends, and are scared of the paperwork involved in a bank loan. Shed all your worries, for help is a mouse click away in the form of payday loans. Payday loans are one of the most convenient ways of getting a cash advance today with practically no paperwork or other hassles.

Defining Payday loans

Payday loans are a short-term cash advance, when it is needed the most...usually between paydays! Payday loans are a great way to get some cash to tide you over to your next paycheck. The goal of payday loans is to assist you with finances to meet that unforseen requirement. The money is given as a cash advance and is directly deposited into your personal checking account, after which the cash advance funds, plus a fee, are taken out of your account at the end of the loan which usually is your next payday.

However, a payday loan is no substitute for long-term financial planning. This cash advance should only be taken to meet urgent financial needs until your next payday. It is only in emergencies that payday loans come in handy. Payday loans also bail you out of situations of bounced checks and late payment penalties by making the appropriate cash advance available.

Understanding The Cost Of Payday Loans

Forewarned is forearmed! So it is with payday loans. If you know what this kind of cash advance will cost you, you will be in a better position to weigh the pros and cons of opting for it. This way you will also know exactly what amount you need to pay back to the payday loan companies.

Your first step should be to find out the best rate of payday loan on offer. Whichever payday loan company you may choose you must know what will be the fixed amount that you will owe upon completing your payday loan.

Usually most payday loan companies charge around $20 to $30 per $100 of cash advance. To ensure that there are no ambiguities, insist that your final payday loan amount is spelled out in dollars and cents. This will help you know what you need to pay, when your payday loan is due.

To judge the best deal, go for the payday loans company that is offering a lower APR. Usually, most payday loan companies provide a cost-breakdown per 100-dollar increments that coincide with the rate.

Furthermore, most payday loan fees are based on the duration of the cash advance. The standard APR for most companies falls into the 400 percent range. As an example, suppose you were to borrow $100 at a fee of $20 for a 2 week period and if you did not pay if for a year, your service charge would be $520 for a 520% APR. To which you need to remember to add the original $100 that you borrowed.

There may be a situation where you are unable to repay the full amount of the cash advance to the payday loans company. In such a situation, the payday loans company generally charges the payday loans finance fee and defers the principal payment over a longer period of time, usually another 14 days.

The Other Hidden Costs

There are several hidden costs in a payday loan! Remember, if you are unable to pay this cash advance and you happen to lose your job, the clock does not stop. If you default on the cash advance, which includes the principal plus interest, the payday loan company will reclaim the entire amount plus all the interest accrued on this loan. A payday loan company may exercise a number of options to collect this cash advance:

·Sue you for the funds.
·Use a collection agency.
·Enter your details into a bad credit database which may limit your capacity to cash/write a check for commercial purposes.
·File a legal complaint for bounced-check charges that may leave derogatory information on your credit file.

By now, it should be clear that it is not prudent to go for payday loans without being aware of the repayment structure. To play it safe, make sure that the cash advance is repaid on time to the payday loans company. Read the fine print before you sign the agreement and understand the worst-case scenarios before deciding to take a payday loan. Once you understand the costs involved in obtaining a cash advance, you are a step nearer to fully enjoying the benefits of payday loans!