Surviving in the world...

Surviving in the world of credit cards

Now we, customers, play a game ‘who have a better credit score’. It looks like that having a credit score is a point of pride rather than...

Some necessary researc...

Some necessary researches before getting rewards credit card

You decide to choose a credit card? OK, at first make a research to find the best variant for you. Before you request one of cards, you should be...

Advantages of reward c...

Advantages of reward credit cards

Of course, you think about worth and convenience of using a retail credit card so that when you buy something at this shop and you see something you...

A good credit history ...

A good credit history it’s very easy

Credit cards are convenient and can certainly help you to settle a good credit history, when you are young. And the good credit history is very...

Debit vs Credit: A Cage Match

Posted by: Lola Thornton  Posted date: February 18, 2011 in Credit Cards Articles
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Upon entering the ring, the debit card and the credit card look pretty evenly matched. They are the same size and the same shape. Their functions are also similar: electronically transferring money from one owner to another.

But when pitted against each other in a head-to-head match, who will come out on top?

Round One: Versatility

Debit cards destroy credit cards when it comes to availability. Nearly anyone can get a debit card – even if you have a bad credit score or no credit history whatsoever. Conversely, credit card companies are notoriously selective of who can get a card, and (especially in today’s economic climate) it’s not getting any easier.

But when it comes to versatility, it’s a much closer match. Debit cards are directly tied to how much money you have in your bank account. If you Read more…

Tags: Cage Match Match

Study Shows the Credit CARD Act Has Made a Positive Difference

Posted by: Lola Thornton  Posted date: February 18, 2011 in Credit Cards Articles
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Ever since the Credit CARD Act took effect last year, many worried it would not provide fair credit card opportunities for consumers, but a new study shows that it has made a positive difference. According to the Center for Responsible Lending, the law’s implementation one year ago has not resulted in interest rate increases for current customers, which means it may have accomplished the intended goal.

Consumers Benefit from Steady Interest Rates, Increased Transparency

There have been a number of benefits resulting from the Credit CARD Act that took effect on Feb. 22, 2010. In the private lending watchdog group’s study, it was revealed in addition to steady interest rates, borrowers have gained access to added transparency.

According to the law, issuers were not allowed to increase the rates of current customers without plenty of warning and justification. So far, rates have not increased for current customers. However

Read more…

Tags: Card Act Difference Positive Difference

Americans cut mortgage, auto loan burden

Posted by: Matilda Sprent  Posted date: February 17, 2011 in Credit Cards Articles
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Despite recent attempts by consumers to pay back their debt in a timely manner, many households still owe up to 17 percent of their earnings to credit card lenders.

Financial hardship isn’t isolating itself to one part of the country, but affecting residents of numerous states, according to a recent study. California’s consumer debt problems lead the country, with a total of more than $90 billion.

The study, by major credit reporting agency Equifax, also found Americans were successfully cutting their mortgage loan and auto loan borrowing.

Declines in these areas helped the national debt total fall 8.2 percent, down substantially from a peak of $11.5 trillion in October of 2008.

“The good news is we’re seeing Americans paying off their debts and becoming more fiscally fit,” says Dianne Bernez, senior vice president for corporate communications at Equifax. Read more…

Emily’s list: Rising costs edition

Posted by: John Freycinet  Posted date: February 16, 2011 in Credit Cards Articles
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The good news? The Fed is now more optimistic about 2011, predicting that the economy will grow by 3.4 percent to 3.9 percent, according to Time. The bad news? Food and clothing prices are going to rise much higher.

Time published another article that says we can all expect clothing prices to go up 10 percent in the spring even though clothing prices dropped in the past decade. Price tags will get even higher in the second half of the year. The cost of cotton has skyrocketed, labor rates have increased and the demand for synthetic blends has grown. We can expect less embellishments on clothes, less colors to choose from, more synthetic fabrics and higher prices in general.

Food prices are also on the rise. According to Business Insider, food prices have risen 15 percent from October through January. Costs of sugar and edible oils have grown significantly in recent months.

Read more…

Give the Gift of Good Credit This Valentine’s Day

Posted by: Lola Thornton  Posted date: February 12, 2011 in Credit Cards Articles
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You have amazing credit. Your Valentines’s credit stinks.

It’s a common occurrence these days, but did you know it’s one that you can easily do something about?

Forget about the overpriced stuffed animals, waxy chocolate, and expensive dinners this Valentine’s day, and give your partner something that will really change his/her future forever. Lend your excellent credit score! Here’s how:

Piggybacking, a technique that allows those with good credit to boost other’s credit scores by adding them as an authorized user, stills works. If you haven’t heard the term before, it’s nothing new.  In fact, parents have used the method for a long time to help their children build good credit.  Unfortunately, in recent years piggybacking has received a lot of bad press as some companies started taking advantage of the system and connecting bad-credit consumers with good-credit consumers for a fee. As you can imagin Read more…

Tags: Day Valentine’s Day

Why Is It So Hard To Get Approved For An American Express Credit Card?

Posted by: Matilda Sprent  Posted date: February 12, 2011 in Credit Cards Articles
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Visa, MasterCard and Discover fill your mailbox with credit card offers. You can’t log onto the Internet without pop-up ads encouraging you to apply for the latest cash-back or rewards credit cards. You’d think, then, that all you’d need is decent credit to qualify for consumer credit cards today.

Maybe … but not if you’re applying for many of American Express’ premium credit cards.

Try applying for the American Express Platinum or Gold Card. You might find that even if you do have a solid credit record, that American Express will send you a “No Thanks” after you submit your application.

Desirable Cards

These top-of-the-line credit cards are desirable. The American Express Platinum Card, for instance, awards members 50,000 rewards points after they charge at least $1,000 worth of purchases in the first three months in which they own their cards.

The Gold card isn’t quite so generous, but it still awards cardholders 10,000 rewards points as long as they charge at least $1,000 in the first three months after they activate their cards.

Both cards come with other perks, too. The Platinum Card

Read more…

Tags: Card Credit Card

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