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If your credit score is less than perfect, or if you have no credit history, most lenders will not issue you a credit card. However, there are cards that can increase your credit rating. When picking a card, make sure to chose a credit builder credit card. If used correctly, credit builder credit cards can help  establish credit and/or improve your credit score. These cards are available to a large array of possible customers and provide the opportunity to improve or establish credit in order to qualify for mortgages or other loans down the road. With timely and consistant payments, it can take you as few as six months to increase your credit rating.

Due to the less-than-perfect or non-existent credit scores of many people who apply for these cards, it is expected that higher interest rates will be charged on these cards. Therefore it is of the utmost importance that before applying for credit builder credit cards, that you are positive that you will be able to make the minimum payment each and every month. An even better plan is paying off the whole balance each month.

Most Credit Builder Cards Include:

Retail or gas station credit cards. Use the retailer card to purchase items like a washer and dryer or a cell phone. These cards are usually very easy to qualify for and will improve your credit score if you make timely and consistant payments. Before applying for any of these credit builder credit cards, first make sure that the retailer will report your card and payment history to all three major credit reporting bureaus.

Ask your credit union or bank to issue you a secured credit card. With this type of credit card you deposit funds into the card’s account, which become’s your credit limit until you deposit more funds. This helps you to improve your credit score slowly. Again, make sure the bank or credit union will report your payment history to all three credit bureaus.

Credit Builder Credit Cards- Use Co-Signer! Use a co-signer when applying for one of these credit cards. The bank will issue the credit card based on the co-signers’ credit score. This is essentially using the co-signer’s good credit to  guarantee the card while you increase your credit rating. If you discontinue to make payments, it falls on the  co-signer to continue to pay, which could potentially hurt their credit rating if they are unable to. This is an excellent way to improve your credit score, but keep in mind that it is a big responsibility and could have grave consequences for the co-signer if you default.

Need Help Establishing Credit?- Students Use! For students, being an authorized user on their  parent’s card is another way for them to establish credit. A concept known as “piggybacking” let’s the credit score of an authorized user to benefit from the good credit score of another family member.

A credit card is a great way to build or improve your credit score. However it also comes with risks and temptations for many. If you know you have difficulty budgeting or limiting your spending, the best credit cards for you will have a low spending limit. And whenever possible, the whole balance should be paid off monthly. This leave’s room for emergencies without going over your credit limit and further hurting your credit.

Source: http://www.articlesbase.com/finance-articles/the-best-credit-builder-credit-cards-5720873.html

A time share is a name given to a piece of property shared among number of owners. This involves use and cost of maintaining the property. Although the majority of the timeshare properties are condominiums resorts but it will not be a surprise if you find a hotel timeshare or a motor home timeshare or a cruise timeshare or a campground. The choices are increasing by the day. The idea of a timeshare property originated in Europe in 1960s when the property rates were skyrocketing and it was impossible for people to afford a full time vacation house. But by sharing the ownership the burden of maintenance and other costs on single person were greatly reduced. These also boosted the fortune of real estate developers as they were able to successfully market and sell the properties to a greater number of people. But a key point to remember in timeshare properties is that a timeshare is owned by a number of people who have no relation to one another like a standard home ownership.

A technical definition of timeshare property is that an owner has specific time to share you own in a property. But as more and more properties are being converted into timeshare, flexible timeshare options cannot be ruled out. The flexible timeshare offers owners the option of choosing more than one timeshare destination and also more than one specific time of a year.

Timeshare properties are usually found in warm destinations like Florida where people like to vacation a lot. They can also be found in cold weather areas near ski resorts. The timeshare properties are typically furnished in full and usually have one to three bedrooms, multiple bathrooms, a kitchen and a living room. It may not come as a surprise if you find timeshare properties with indoor or outdoor pools. They have become a common feature of most timeshare properties nowadays.

The typical duration of a timeshare ownership unit is one week. Depending on what time of the year you own the timeshare the price may vary. For example, a timeshare property in the month of April in Florida will be much higher than in August.  So the rates may vary with varying season and demand. Some resorts give color coding to different seasons depending on the demand. For example some resorts term high demand season as red season meaning the prices of the timeshare will be highest in that season.

Timeshares can usually be inherited to your children like any other real estate property. Timeshare offers not only a great vacation but also great investment. Most people rent their timeshare to others when they do not use their timeshare. This has a double advantage. You earn rent also along with appreciation of the property with passage of time. Timeshare properties are exchangeable and tradable with other properties in most of the cases. While it may be easy for the owners of the red season timeshares to exchange their unit with other owners in any season it might be impossible for owners of low season timeshare owners to get a high season timeshare unit in exchange.

Timeshares can be purchased through financing also but mostly the resale properties purchased from individuals are paid in cash. The cost of maintenance, management and cost to maintain common areas like pools and tennis courts are paid by timeshare owners. Fees may vary and always make sure to find it out before buying a timeshare.

There are many types of timeshare properties. A fixed unit, fixed week, deeded timeshare allows you to own a specific timeshare at a specific time each year. A floating time agreement allows you to be flexible about the dates that you can use your timeshare. But reservations may be only first come first serve as many owners would like to go for that option. Right to use timeshare is a leased timeshare. You no longer have rights to the property after the lease expires.

Buying a beach front property or a vacation villa may be easy for rich and wealthy but not for common middle class people. The introduction of timeshare concept gave hope to those people who could not afford to buy a brand new vacation home. That is one of the reasons why the timeshare industry has grown by leaps and bounds ever since its inception in the United States. One of the aspects of a timeshare property that attracts most people is that they can have a wonderful vacation home without having to worry about its upkeep and maintenance. But at the same time people have many misconceptions about timeshares. One of the biggest misconceptions is that they compare timeshares to regular real estate property and consider it as an investment option. But in fact it should be thought as an investment in your dreams i.e. vacationing at a place where you want to go every year. Investing in real estate could reap profitable returns but if you invest in a timeshare it may not be guarantee in fact you may end up losing money.

But what if you still want to buy it and you expect no profit from it but neither loss also at the same time. There is always one question in the minds of those people who are planning to buy timeshares. Is it really worth buying a timeshare? To answer this question you have to go through an analysis of various factors. An analysis should consider factors like comparable rent of alternative accommodation, appreciation of the timeshare property and your finance rate. How do you do it? Here is a simple calculation.

Consider the worth of your investment as profitability. The profitability should be a measure of the comparable rental rate, rate of appreciation and your finance rate. If the sum of all these is a negative number then, assume that you are losing money in your investment. The rental rate is the ratio of the rent of that vacation property to the buying price of that timeshare. Suppose if corresponding rent of that vacation timeshare is $1,000 and the buying price is $10,000 then the rental rate is 10%. Now if we include the annual maintenance cost, membership and all other miscellaneous expenses, if it comes around $500. So the actual saving in rent will be $500 now and the rental rate will be the ratio of $500 to $10,000 which gives us 5%.

Now if we assume the annual appreciation of that property is 10% and the rate of our finances is 16%. If we add rental rate and appreciation and subtract the finance rate you will end up with a negative percentage which means you are losing 1% every year compared to rent. But this formula is only a rough calculation of the profitable of your investment and may not be accurate. This is just to give you a start up. The depreciation rate may vary and so as the finance rates. The maintenance fees and other fees may also vary with different locations. Some resorts have charge reasonable maintenance fee and other fees but some exorbitantly high fees. So, this is also should be a factor in deciding which resort to choose, it is not a smart idea to pay unusually high fees when you don’t know whether you can utilize the property year after year and you may think of renting out the unit which is not a profitable proposition too.

Another good idea is to add up the cost of your timeshare for the entire year i.e. all fifty two weeks and see. For the above investment it may be around 520,000. But, does the timeshare property cost that much if somebody wants to buy it as a real estate property. The extra money goes into the pockets of real estate developers who are selling the timeshare. So carefully weigh in all the factors discussed above before buying a timeshare property.