Struggling to make credit card payments on time?  More than anything else, it signals that you need to get your finances organized.  Paying on time is not that hard, with accompanying benefits that are downright valuable.  Late fees, for instance, have soared over three times in the last ten years.  Even worse, credit card companies are now unusually strict with interest rates, often raising it on credit cards that miss even a single payment.

Follow one of these tips to get your credit card payments in order.

Pay the next day. This is a rule I have personally followed for a long time and I do it for all my bills, not just credit cards.  When I get the bill, I always make the payment the next day.  That way, I never forget bills and have no chance to use the money allotted for them on other things.

Pay your credit card twice a month. If you’re an employee who receive your wages twice a month (like the majority of paid workers), pay your credit card bills after every payday.  This is one the best techniques you can use to bring down your total debt when you’re carrying a hefty credit card balance.

Automate your payments. We’ve talked about it before, but it bears repeating.  It is now easier than ever to automate your payments using online banking facilities.  Ask your bank about it if you’re not familiar with the process (or change banks if the one you’re on doesn’t offer it).  It facilitates the greatest convenience.

Contrary to what you may think at first glance, the Facecard Prepaid Mastercard has nothing to do with Facebook.  Clever naming, though, since it’s essentially geared towards that market of young people who probably spend hours upon hours of their days buried on social networking and IM sites.

Since this is a prepaid card, you have to keep your eyes wide open for the fees.  We’ll start with the things you can do for free, though: there’s no charge to activate the card, no monthly membership charges, no fees when loading via ACH and no charges for Facecard to Facecard fund sharing.

For the actions you’ll get charged doing, here’s the complete list: ATM withdrawals ($1.50), international purchases ($0.50), going zero balance ($9.95),  negative balance ($9.95, per incident), mailed statements ($1.95), chargeback ($25) and inactive account ($4.50).  If that sounds like a list telling you to essentially give your money away, you’re not alone - that’s how it strikes me too.

Fees notwithstanding, you’ll get the same charges out of pretty much any prepaid card in the market so there’s really nothing making this worse than any of the other offerings.  Since, there’s no fees for ACH transfers, it’s actually pretty decent.  Do note that the Facecard lacks an over-the-counter deposit feature.  If you don’t have a bank account, you can’t load it with cash.

Like other prepaid cards, the Facecard Prepaid Mastercard is designed for convenience, not value.  It also won’t help your credit-building efforts, like a secured credit card would.  If you need one, this might be a good choice.  Otherwise, just move along - nothing to see here.

Even with the best intentions, many folks are finding it difficult to get a credit card.  With the multitude of problems facing lending institutions today, it’s no surprise that they’re the approval process is also getting tighter.  If you’ve been trying to get a credit card with no luck, try looking for a credit from one or more of these places:

1. Use your affiliations

Many organizations - from alumni associations to charities - have deals in place with credit card companies.  Applying for one of these specialty-branded cards might prove easier than usual avenues, if you have an affiliation with the partner organization.

2. Search online

There is no place in the world that gets you a wealth of choices in credit card offers than over the web.  Many credit cards, especially those geared towards a less attractive consumer base, usually don’t advertise as heavily as their more prominent counterparts.  As such, you’ll end up finding many of them only available online.

3. Call up your bank

If you have an existing savings or checking account at a local bank, you can use that relationship to try and get a credit card.  Get in touch with a bank manager and inquire if it will be possible for them to issue a credit card in your name.

4. Try a secured credit card

If you’ve tried all avenues and an unsecured credit card just isn’t in the horizon for you, yet, try getting a secured credit card, instead, to begin building up your credit.  Used right and supplemented with one or two more credit lines, you might be able to qualify for an unsecured account in less than a year.

For most folks with bad credit scores, getting an unsecured credit card will usually be out of reach.  While it doesn’t hurt to try, realize that more inquiries into your credit ratings will just serve to bring it down even further.  If you really want to try getting an unsecured card even at your present credit standing, just apply to one.  If it doesn’t work fine, just get a secured card, in the meantime.

Of course, you can use the secured credit card to start building up your credit ratings.  Just follow the typical guidelines for responsible credit card use - keep low balances (or zero, if you can manage it), always pay on time and never go over your credit limit.

According to most financial experts, people usually need at least three revolving credit accounts in order to maximize your credit score.  As such, it is highly recommended that you try to get two more cards after you’ve been using the secured one for a while.

Wait at least 3 to 6 months before trying to get a second credit card.  Similarly, go for a sub-prime card, as well, for your second account - it’s going to be far easier as your score is unlikely to have gained massive improvements yet.  After using both credit accounts for at least four months more, you can then apply for an unsecured credit card and actually have a good shot at getting approved.

Patience is key but the rewards should be worth the wait.

If you’re a Circuit City credit cardholder and thought that your account was closed along with most everything when the shop folded its doors, take notice:  your accounts are still open.  Don’t assume that Circuit City took it with them to the grave - credit card issuers are a little more savvy than that.

Apart from the fact that any balance you have continues to exist, it also means that you’ll have to continue paying any fees you’ve been charged on it just like usual.  Should your renewal date be coming up, better be ready to pay the annual charges.  If you don’t want or don’t need the card anymore, you’ll have to call up the issuer and have it closed.    Of course, you’ll have to go through the usual card cancellation process, along with the possible impact it can have on your credit score.

In place of Circuit City shopping, the store credit cards have now been automatically changed to work at Best Buy.  Current cardholders should be receiving their new Best Buy-branded credit cards in May.  If you want to shop now, the existing Circuit Card will be accepted in all Best Buy locations.

If you’re among those who though your Circuit City cards have died off, best get up-to-speed really fast.  After all, if you have that credit line open and you’re unaware of it, you can easily fall victim to identity theft.  Just a word of caution!

With the current economic climate, it isn’t too far-fetched that you may be considering negotiating your arrangement with credit card issuers.  After all, you can usually foresee when the financial situation in the horizon isn’t too peachy.

So what should you do when the time has come and you’ve finally decided that the credit card balance may be a little too much to handle?  Should you renegotiate immediately with the lender?  Or should you wait till the private collection agency comes calling?

The answer actually depends on what you’re looking to get out of the deal and what you’re willing to give up.

When To Negotiate With The Issuer

If you want to keep your credit score from taking a nosedive, always negotiate with your credit card company first.  Be open about your situation and the kind of payments you can handle.  At worst, the negotiation will go sour and you’ll have to deal with a collection company later.  At best, you may be able to salvage a good part of your credit score, while paying considerably less interest on your outstanding balance.  Even better, negotiating with your credit card company might keep you in their good graces, allowing you to deal with them again later, when your finances are much more permitting.

When To Wait For The Collection Agency

Some people will tell you never to let your debt get to a collection agency.  I disagree.  While it will ruin your credit score (and you’ll need to rebuild again from the ground up), it’s the easiest way to pay a drastically reduced amount of your actual debt.  Since they acquired your debt for a very low price, collection agencies are willing to shave it down very low, as long as they can make a profit in the process.

Even with the potential risk to your credit score, getting rid of your credit card just makes the most sense sometimes.  When canceling the account, make sure to follow these five steps:

1. Pay off your balances

Before closing off an account, either transfer your existing debt to a balance transfer card or pay it off in full.  If you cancel with a balance in tow, your issuer can easily raise the interest rate, leaving you paying more for no reason other than the fact that you closed the credit line.

2. Call up the issuer to have the account closed

Once your balance is clean, call up the credit card company and request to close the account.  Take down the following information: date of your call, the exact time and the name of everyone you talk to.  They’ll try to talk you out of it, especially since you’ve got zero balance, but remain firm.  Don’t bother giving a reason for cancelling the card - if you give a reason, they’ll just come back with another reason to keep the credit card.  Just tell them you want it over and done with.

3. Ask for a written notification

When you cancel your card, always ask for a written notification when the process has been completed.  Some people also recommend sending a written later detailing the request, along with the phone conversation you had.

4.  Always follow-up

Canceling your account, contrary to common sense, actually takes time, for whatever reason.  Make sure to follow-up the status, at least once a week.    Make sure you keep notes - date of your call, the exact time and the name of everyone you talk to - as well.

If you don’t particularly care for rewards but don’t want your credit card spending to net you no benefits, a charity credit card is probably a great choice for you.  Instead of earning points for yourself, you can accumulate cash rebates and items that will then be donated to charities.

Two Types Of Charity Credit Cards

The first type of charity rewards card donates a portion of all your purchases to a specific charity.  As such, these credit cards are usually branded with the particular charity it is associated with.  Donations are automatically made on your behalf, as long as you’re using your card for purchases.

This is a great choice if you have a particular charity you want to support.  A great idea is to contact that charity group and ask them if they have specific partnerships with any credit card issues - many of the larger charity operations do.

The second type of charity credit cards are no different from regular rewards credit cards, with the exception that you can use your points for donating to worthy causes.  If you’re a current member of a rewards program, check their terms to see if they allow you to give away your points to their partner charities.

Some credit card programs will have a wider range of charity partners than others, so that might factor in to your eventual choice.  Regardless, though, you’ll be doing a great deed, all for doing nothing much but using your card for items you’ll be spending on anyway.

With so many credit cards just raising their rates with little notice and sense (up to 30% interest, in some cases), it’s tempting to just close off those accounts.  Why not just stick it to those clowns who want to make your life harder, right?

Unfortunately, closing off a revolving credit card has a bit more repercussions than severing your ties with the credit card issuer.  Once you take this account off your pool of available credit, your score immediately suffers and a bad credit rating can be disastrous during economic times such as now.  I

As with everything else, try to work out the rate with the bank.  Even if they don’t acquiesce, at least you tried.  There’s no harm in trying to work out a better deal.  You can also keep the card, in the meantime, and just hold off on using it, if you need your credit scores to remain even for the next few months.  Of course, you’ll still have to pay the annual fees, but that should be better than seeing your credit score go from “fair” to “poor.”

Things get even tougher when you’re keeping a balance on the card.  Even when you do cancel the account, you’ll still have to pay it off at the current rate.   As such, try to see if you can get a low-rate balance transfer card to move the current debt to, before doing anything else.

Some people, acting emotionally to the hike, simply decide to default on the offending cards. This is the worst thing you can do.  If you own three credit cards, for instance, defaulting on just one of those will automatically activate the universal default clause, potentially prompting the other issuers to raise your interest rates as well.  Avoid it at all costs.

Just like consumers have credit scores that financial institutions often refer to before approving loan and credit applications, businesses have a similar facility that allows lenders an easy way to evaluate creditworthiness.  A number of these companies have launched over the past several years, although Paydex from Dun & Bradstreet continues to be the single major source for business credit reporting.

Instead of accounting for a wide variety of factors, the Paydex uses a single indicator to determine your business’ credit ranking:  how well your business is able to timely payments under the agreed-upon terms.  Scores are presented as a single number from 0 to 100, with any business ranking above 80 considered a “low-risk” investment for creditors.

To begin establishing a credit score with Paydex, you will need to get a D-U-N-S number from D&B (the company behind Paydex), a unique nine-digit sequence that is used to keep track and identify hundreds of millions of businesses worldwide.  Once you’ve gotten a D-U-N-S number, you can use that to establish a small line of credit with suppliers (such as office supply companies) to get you started.  Make sure that all suppliers you work with report their transactions to D&B.  Otherwise, you won’t earn any credit for the business you do with them.

Once you have a Paydex account, it is important to keep it active.  Since Paydex regularly tracks your business with suppliers and creditors, an inactive account likely means business is a little sleepy.  Even when you have scores well above 80, inactivity will cause it to drop.  Come time you actually need to make a loan or get a business credit card, you’ll end having a difficult time.