Archive for January, 2010

Credit Card Profile: HSBC Credit Card

Posted by: admin  Posted date: January 31, 2010 in Credit Cards Articles
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Do you want a simple rewards credit card that lets you get savings right now instead of months down the road when you’d built up enough rewards points? Wouldn’t it be great if you could get rewards without paying an annual fee? Now you can! The HSBC credit card gives you that and more.

When you get approved for the HSBC credit card, you’ll get a no annual fee card with reasonable interest rates, savings when you spend, and even a special offer on balance transfers. What’s not to love?

Discover more about the HSBC credit card below to determine if it’s the right card for you. If it is, you can apply online today through the secure online application linked below.

Type of Credit Card: Balance transfer card / Rewards credit card / No annual fee credit card

Interest Rates*: With this credit card you’ll get a 16.99% APR on purchases and a 19.99% rate on cash advances. However, yo

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Tags: Card Credit Card

Tips for Quickly Paying off Credit Card Debt

Posted by: admin  Posted date: January 30, 2010 in Credit Cards Articles
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Even if you are in the midst of paying off your credit card debt you may feel as if the process is taking entirely too long. Smart consumers know that the quicker they payoff their credit card debt the more money they will save – thanks to avoiding finance charges. The question is: how can you speed up the payoff process?

1. Send as much money as you can each month. There is nothing wrong with paying the minimum if that is all you can afford. But most people learn early on that they can afford to send more than the minimum. Send as much extra as you can each month, and your credit card debt will quickly begin to diminish.

2. Don’t add more. If you add more debt to your credit card while paying down your balance you are being counterproductive. There is no way you are going to make any progress if you continually rack up debt while trying to payoff your balance.

3. Set goals. To do this you need to know how much you owe, how much you can afford to pay each month, and when you want your debt to be gone by. Whe

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Tags: Card Debt Credit Card Credit Card Debt Debt

President Obama Addresses Student Loan Forgiveness

Posted by: admin  Posted date: January 28, 2010 in Credit Cards Articles
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In his State of the Union 2010 speech, President Barack Obama mentioned student loan relief for college graduates who are struggling to make payments:

“…[L]et’s tell another one million students that when they graduate, they will be required to pay only ten percent of their income on student loans, and all of their debt will be forgiven after twenty years – and forgiven after ten years if they choose a career in public service. Because in the United States of America, no one should go broke because they chose to go to college.”

What he’s talking about is a modification to the Income-Based Repayment program (IBR) that was created in 2007. The current program forgives certain unpaid federal student loans after 25 years, or 10 years for people who work in public service.

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Tags: Loan Student Loan

Citi’s “Thank You” Appropriately Termed for Haiti Relief

Posted by: admin  Posted date: January 27, 2010 in Credit Cards Articles
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When it comes to the relief efforts in Haiti is looks like Citibank wants to do a little more than just pledge thousand of dollars, but they need your help.

If you’re a Citibank cardholder you can now help the Haiti relief effort by using your Citi credit card to make purchases that accrue reward points. With these reward points, cardholders are now able to give cash through the Citi’s reward program known as the “ThankYou Network”. Starting at just 5000 points, donations are given in denominations of $50 and $100 to the American Red Cross International Response Fund.

If you would like to give donations using your reward points you can go to Thankyou.com or by calling (800) THANKYOU, or (800) 842-6596.

Tags: Haiti Relief Relief

What the iPad Means for Your Wallet

Posted by: admin  Posted date: January 25, 2010 in Credit Cards Articles
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Phew! Thank heavens the iPad is coming. Solving the economic crisis should be a breeze — it has an app for that.

Apple ‘s new all-singing, all-dancing hand-held computer is the talk of the moment. Even thousands of miles away in London, when I staggered off the redeye Thursday morning, the front pages showed a gaunt but grinning Steve Jobs clasping his latest creation.

But if we can hack our way through the hype, what are the financial implications of this latest techno marvel — for consumers and for investors?

Look out: The iPad may cost you around $1,000 after all.

Yes, the headlines note the prices will start at the low, low level of $499. Mr. Jobs on Wednesday even mocked those who had predicted prices nearly twice as high. But were those earlier forecasts so wrong? If someone buys the basic 16-gigabyte model with 3G, they will pay $629 up front — plus $30 a month from AT&T for unlimited data.

Cost for a year: $360. Add t

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Tags: Ipad Ipad Means

Cancel or Keep Unused Credit Cards?

Posted by: admin  Posted date: January 25, 2010 in Credit Cards Articles
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As many people have decided to only use one or two credit cards, one of the main questions asked is, “Should I cancel the cards that go unused?” While the answer is different for everyone, knowing whether or not to cancel a card should not be a difficult choice once you know how the account closure will affect for credit scores.

So what is affected most when it comes to an account closure and your credit score? For the most part canceling your card alters your utilization ratio (balance-to-limit ratio). When this happens it looks as though your borrowing much more when it comes to your credit limit, which could affect your score more than any other changes. In addition to your balance-to-limit ratio, if you are closing your longest standing account your payment history would essentially be shortened. While this may not effect your as much as the utilization ratio your score has a very high likely of falling a few points.

If you do decide to cancel any accounts, there are a couple of things that could help ensure that your credit score doesn’t take as hard of a hit. T

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Tags: Cards Credit cards

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