What You Need To Know About Stakeholder Pensions Corporate Credit Card Is A Tempting Advantage What Is A Sub Prime Loan To Day Trade Not To Day Trade That Is The Question Affinity Credit Cards
For those of you who are thinking about planning for your retirement, you will need to do a bit of research on pensions to find the best way to save for your future retirement. This article is about stakeholder pensions and will explain a bit about them and how they work.
So first of all what is a stakeholder pension? Well it is not a new kind of pension so to speak, but it is a personal pension which has a set of conditions under which it must operate in order to be called a stakeholder pension.It is not limited to being a personal pension as it can also be a set of conditions which applies to a money purchase occupational scheme.
The purpose of the set of conditions is to make the pension simple, easy and good value for money. So what are the set of conditions that apply to stakeholder pensions then? Well here are the minimum standards that apply to it:
1. The charges must be low at around 1% of the fund invested each year.
2. It must be designed to be simple which is done by having a standard investment option so that you do not have to choose the investments yourself.
3. It must be portable, meaning that you can transfer the stakeholder pension on to a different pension which can be another stakeholder pension or another personal pension. Also if you do this you would not be penalised for transferring it.
4. The pension provider must keep you informed of any changes in the charges you have to pay for it by letting you know one month before the changes take place. They must also send you a statement at least once a year so you are kept up to date with your account.
5. The minimum contribution must be
When a businessman has a corporate credit card, it allows him to own a small business which can separate his personal expenses from his business expenses. Thus, corporate credit card is egged on employees so that the need for them to use their own personal credit card is eliminated.
When an employee uses his business credit card, then there is no requirement to indicate his expenses through statements. There is also no need to wait for the lender’s approval as well as the company’s reimbursements. The transactions are done quickly and through quarterly statements, these exchanges are made easier and more accessible for the management.
Employees can be provided with corporate credit cards as long as there is a pre-set spending limit. By having this limit, the expenditures of each employee is controlled and maintained at a regular rate.
An advantage in possessing a corporate credit card is that there is an efficient control on the expenses of the company. Because personal and business expenditures are separated, then there is a consolidation with the former and a more detailed description with the latter.
As for the manager, with the help of corporate credit cards, expenses are easier for him to pinpoint. When faced with the statement, it is clearer so when it is time to calculate the company tax return, he wouldn’t be getting a full-blown headache.
Corporate credit cards have many benefits. One is that is has 0% APR balance transfers and purchases. Then there are also cash back rewards when a purchase is made for the company. Some corporate credit cards even have business travel rewards. Spicing it up, they also offer no annual fee. Plus the finances can be managed at the comfort of their own homes or offices, because there is an online account site clients can log on to when they would like to check their invoices and balance details.
With so many rewards such as these, the expenses of the company are lowered. Therefore, the company is able to save more. With more savings come more opportunity for them to spread out their entrepreneur wings and take risks in making investments.
An important thing to look for in company credit cards is that they must have a credit standing that is credible and able to get reasonable increases when it comes to credit line and cash flow.
Studies show that an employee possessing a corporate credit card is able to control his purchases, meaning it is harder for him to give into impulsive buying. They are fully aware that the minute the invoice reflects a purchase that is deemed irresponsible and is not for business ventures, their corporation would take it as stealing professional money for personal expenses.
It is advised an employee with a corporate credit card must always be responsible when it comes to using it. Mismanagement of these may cause him his job and his credibility as an employee to the corporation he is working for.
To begin with, corporate credit cards have been granted not only for the improvement of the business but also for the benefit of the employees. Managing expenditures is a team effort and budgeting is done best when everyone involved can be trusted. If it is for the corporation, use the corporate credit card, but if it is for personal use, then just hand your own credit card to the cashier.
A sub-prime home loan is designed to service those individuals and families who have credit problems. The severity of the credit problems and the length of the problems will determine whether or not you are a candidate for a sub-prime loan. There are some individuals who may not qualify even for this type of loan.
The sub-prime home loan market often seems to have a life of its own. At times, it is easy to find a sub-prime loan through a lender while at other times, when the market tightens up, it can be difficult to get a sub-prime loan. In other words, there are no guarantees that a sub-prime home loan will be available at all times. Much of that is determined by the overall housing market and borrowers have little they can do to change that other than to wait for the markets to settle down.
Generally speaking, sub-prime mortgages are for those with credit scores under 620. On average, most credit scores will range from 300 to 900, with most working people being somewhere in the 600 to 700 range. Individuals who are always late paying their bills, and especially those who are 30 to 90 days late, will have a much lower credit score. When the credit score falls below 620, the person is considered a sub-prime candidate. Keep in mind, however, that this number can change as the market changes. It may go up a bit and it may go down a bit.
It should be remembered that at times it can be impossible or at least very difficult to get even a sub-prime loan. If sub-prime home owners begin to default on their loans (and this can happen) lenders will often restrict or even eliminate their sub-prime exposure by refusing to take these types of loans.
There are some issues that consumers need to be aware of when considering a sub-prime home loan. Here are some of the more important ones.
Sub-prime loans almost always carry a higher interest rate than traditional loans (which are also known as prime loans). Because the lender is assuming much more risk with a sub-prime borrower the amount of interest that can be charged is often up to the lender. There is no general way to gauge what might be known as the average rate. Each lender that you are interested in will need to be contacted in order to learn the rate they will charge you.
A sub-prime loan may also carry with it a prepayment penalty, a balloon payment, or both. Prepayment penalty fees are charged if the loan is paid off early. A balloon payment requires the borrower to pay off the entire balance of the loan after a certain period has passed, often five years or ten years. If you cannot pay the entire amount when the balloon payment is due, you may have to either refinance the loan or sell the house or go into foreclosure.
Anyone who is considering a sub-prime loan should be aware of predatory loans and predatory lenders. There are several ways someone can cheat you through predatory tactics, and sometimes a lender will combine them in order to confuse you and to maximize profits. Be especially aware of high fees and interest rates that are ultra-extraordinary.
You can take some actions to defend yourself against predatory lenders. Start by finding out what your credit score is from a reliable source. Then ask people for referrals to mortgage lenders whom they trust and have dealt with before. Lastly, make sure that you shop for the best deal and that you check on the lender before you sign up with anyone.
If you look at some websites around the net you’d think that day trading was some kind of disease or something. So much bad press surrounds it that you would thing that anyone who tries it must be nuts! So what exactly is day trading anyway?
That’s easy. Day trading is simply entering a trade on or after the opening of the day’s trading session and exiting a trade on or before the close of the day’s trading session.
So logically the length of a day trade is no more than a single day.
Does day trading have risks? Of course it does. In fact all trading and investing has risks. Day trading became popular when the availability of real-time market data expanded to the masses.
It appears that many trader became more fascinated with some of the fast-paced action rather than with the actual bottom line. It is true that some traders need more action than others and day trading may provide a way for those traders to satisfy their need for trading action.
Day trading is a method of trading and as such it is a tool. Now this may or may not be the right tool for you to use to build your fortune, but that depends on far too many factors for us to go into in this brief introduction.
A Few Day Trading Advantages
No over night positions – With the volatility of the markets constantly changing there are people who definitely prefer to be flat (holding no open positions) at the end of the trading day.
Rapid Feedback – Day trading gives you rapid feedback which allows you to see how well your trading system works in a relatively short period of time. Please keep in mind that making a fortune in the market is not a short-term proposition although the time frame you trade in may be.
A Few Day Trading Disadvantages
Typically increased transaction costs – Transaction costs are typically higher because trading frequency is typically higher.
Typically does not take advantage of a large move – Trend followers live for the big move and day trading is simply not equipped to take advantage of the big move. Some would consider this to be a big disadvantage although day traders would argue that they make enough smaller profits to equal or surpass the profits in a big move.
If you choose to day trade or do any other type of trading, remember that there is absolutely no substitute for preparation. Dot your i’s , cross your t’s and prepare to trade successfully.
To Your Trading Success!
For about twenty years, banks and financial institutions have figured out that appealing to people’s hearts is the way to get them to open their wallets. Affinity credit cards have a charity logo as well as the issuer’s logo; each time the card is used to make a payment, balance transfer or withdraw cash from an ATM, the bank donates a percentage of the amount of the transaction to the charity.
Will You Need Donations After Using a Charity Credit Card?
The concept of the affinity credit card (otherwise known as charity credit cards) is great: every time you make a purchase you had to make anyway, you can use you credit card and donate to charity. Finally, you can feel good about using your plastic to make your purchases! But is it worth it?
Most of the charity credit cards offer miniscule donations in comparison to the amount of interest the cardholders are required to pay, and most of the time- they charge fairly high annual fees. If using the charity card to donate $6 a year to the homeless leaves you needing donations yourself, it may not be such a good idea to use the charity credit card no matter how warm and fuzzy it makes you feel inside!
The average donation given from affinity cards to charity is about .05 percent. So for every dollar, a half a penny is donated. What does that come out to be? A $100 purchase made with an affinity card translates into 50 cents donation to the charity affiliated with the credit card. If you spend $100 a month on your credit card, you’re looking at about $6 a year in donations. If you’re paying 21 percent interest each month on your payments, and a hefty annual fee to the card issuer, it’s hard to get excited about your contribution to charity!
Additionally, charity credit cards don’t usually provide the same perks that traditional credit cards offer. You’d be hard pressed to find a charity card that offers cash back, travel accident insurance, or extended warranty coverage- all extra items that are becoming more common on traditional credit cards.
High Spenders and No Balances
If you are one of the few, however, that spend a lot of money on a regular basis using credit cards, and pay off the balance in full on a monthly basis to avoid most of the interest and fees, an affinity card may be a reasonable option for you to make regular donations to charity.
Another thing to keep in mind when considering affinity cards for donation purposes, is that donations and contributions made through the use of a credit card are not tax-deductible since the donation is actually a contract agreement between the card issuer and the charity- and not from your pocket.
Popular Affinity Credit Cards
Despite the fact that individuals pay higher interest rates and annual fees when they use charity credit cards, and that cardholders of charity cards receive fewer perks than traditional credit cards- these credit cards are very popular. Target’s credit card has donated over 19 million to Take Charge of Education, an organization that provides scholarships to students and teachers. This particular charity credit card allows the cardholder to designate the school in which their 1 percent donations are sent to- making the card extremely popular with families with children in grades k-12.
Competition is Fierce
The credit card industry is a highly competitive one, with banks and card issuers literally trying to out-best one another in hopes of retaining and attracting new cardholders. Credit issuers love affinity cards because the cardholders are often very loyal- keeping their credit cards and using them often because they believe in the cause they are donating to..
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