January 30, 2010

How can we increase our credit card limit?

increase in credit lineWell, all of us want a credit card with a handsome limit, don’t we? Now, how can we do so? Can we do such in a short period? What are the processes do we need to go through? These are common questions we ask ourselves or others regarding an increase in the credit limits. Below I have put together some of the tips which will educate you as to how a credit limit is increased and how can you do it.

a) The most important thing, which can actually increase your credit limit, is your credit score. If you have maintained a good and steady credit score, your credit line will be automatically hiked. Should you keep a good credit score, your limit will be higher or at your satisfactory level at the time apply for a card. The interest rates will also be lower then. So, try to keep a respectable score. You need not worry for your credit line then.

b) While using a credit card, do not cross your stipulated credit line. Do not over spend your limit. This conveys good messages to your lender that you can control your credit usages. Therefore, they will consider you a hike in the credit line believing that you will maintain your previous practice of staying within the line.

c) Make good use of your credit card regularly. Do not keep your card to use occasionally or only for emergencies. There must be a good number of transactions on your card for your issuer to understand your credit priority and hence, to increase your limit.

d) Do not just make your minimum payments every month. Try to make the full payment of your outstanding balance instead. This positive gesture surely pleases the creditors and thus, helps you get a quick increase in your credit limit. This will also help you avoid any finance charges, which are normally very exorbitant.

e) Do not be late in making your payments each month. Remember late payments not only bar you from using your card until you make the required minimum payments, it can drastically affect your chances to get an increase in the credit limit. Moreover, being late for a few months can result in the revocation of your credit privileges. You can no longer use your card but you have to keep paying towards your balance with finance charges. This will also influence your credit score negatively.

f) Approach your credit issuers to consider for an increase in your limit. Show them reasons as to why you deserve a hike in that. Mail them or call them or email them, just let them know that you have maintained your card very nicely and wisely. Hence, your limit deserves to be increased.

In fine, I would say, use your card wisely. Use it when you are in need of it. Do not possess too many credit cards. Keep good records of your cards. Pay your bills on time and never cross your credit line. You will for sure merit a credit line increase. All the best.
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January 22, 2010

What will happen if Google pulls out of China?

Google threat to ChinaWell, Google, the world’s largest search engine threatens to pull out of the world’s most populous country in the wake of some serious cyber attacks to its servers. This possible decision of Google sends tremor across the internet users of China. The number of web users in China will cross over 40 million and if Google materializes its decision, then the big loser will be China. And, this will be a big setback to China and a shame also since, the world’s most populous nation fails to give a shield to the search engine giant.

Google came to such type of sudden decision because it discovered many sophisticated and deliberate cyber attacks on its own servers and on numerous human rights websites. Google detected those attacks originated from within China. This is a crime in the eyes of Google, which was, until some days ago, censoring some search results on it search result page. The censorship of information is contrary to Google policy; still it has to abide the rules of Chinese govt., which do not want some of the information with respect to Taiwan be viewed in China.

If Google truly withdraws its business from China, this will massively affect the net culture of this country. Many a business runs on Google and they will be severely hit by this pull out. Sina Corp. one of the largest internet portals in China, has collaborated with Google offering its search engines bar on its home page. Likewise, China Mobile Ltd., which is the country’s largest mobile carrier, uses Google’s search service on it mobile browsers. In the similar fashion, other internet-based business will be at jeopardy.

We can just wish that everything is sorted out nicely and the Chinese govt. provides protection to Google in the large interest of millions of web users. Moreover, the China should also look into the fact that cyber crimes are tackled with iron hand and that it creates a free atmosphere for right to information to breathe.
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January 16, 2010

How do you think you can save money on your income tax?

save taxTo save on the income tax you owe is one of the major concerns for every taxpayer. None wants to pay tax to the government more than they should or they owe. To make sure you pay the right amount of tax, you need to know the tax laws. Below I have put up some of the steps, which may help you, same some money on income tax:

1. Contribute to your retirement fund sponsored by your employer. This will save you some money on your income taxes. Your contribution will be deducted from you gross pay before your income tax liability. Reducing your gross income reduces your overall income and hence, reduces the income tax you pay.

2. Make some charitable donations to organizations such as Goodwill, The Salvation Army or any such type of charitable organizations. While make donations, you need to get a receipt for that. Charitable donations, through cash or any services are deductible.

3. Ensure that you meet the IRS’s criteria. Hire independent contractors instead of employees. It will help you save on payroll taxes for those employees. Besides, you can pay your children and spouse for the work they do for you. This will help in converting high tax rates to lower ones.

4. Keep your utility bills paid on time, before the end of the year. The payments made towards the utility bills such as phone bills, insurance premiums etc can be included for tax waivers.

There are many ways you can save tax but the main factor is you should know how to go for it. You need to have knowledge for them as well.
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