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...

Colleges in Cahoots with Credit Card Companies

Posted by: Matilda Sprent  Posted date: October 21, 2010 in Credit Cards Articles
0

Any student can tell you that the first thing they get in the mail when they return to campus is a wad of offers from credit card companies. But what most students and their parents did not know until recently was that colleges are behind the effort to get students to sign up for plastic.

Lucrative multi-million dollar contracts give colleges a kickback, so when a student applies for college the university also hopes they will apply for lots of credit cards. Buying all those pizzas or taking out emergency cash advances means big bonuses to colleges that reap as much as a dollar per student. But they can make even more if students carry a lot of debt and don’t pay it off right away.

According to the terms of one such arrangement, for example, Bank America agreed to pay the University of Central Florida $1 for each nonstudent cardholder who carries debt from one year to the next, plus $1 for each currently enrolled student cardholders. B

Read more…

Tags: Card Companies Companies Credit Card Credit Card Companies

Ask Creditnet: Don’t Rely on USPS as Payment Reminder

Posted by: Lola Thornton  Posted date: October 20, 2010 in Credit Cards Articles
0

Dear Creditnet: I recently began helping an elderly neighbor pay his bills.

One credit card statement arrived today and indicated that his payment is due in just 18 days. They also request that it be mailed at least 7 to 10 days in advance to avoid a late payment fee, so that only gives him 11 days to cut a check and get it in the mail.

This just doesn’t sound right to me. Am I wrong?

Answer: I wish my grandparents had a neighbor like you. Kudos for lending a helping hand.

Your neighbor’s credit issuer will need to receive payment by the due date or they will most likely charge a late fee and begin charging interest on the existing balance as well. That’s why they’re suggesting you send payment at least a week or so in advance. Unfortunately, the mail can be quite slow sometimes.

Now, according to the Credit CARD Act of 2009, credit card companies must provide at least 21 days to pay your bill after the statement has been mailed or delivered. And alt

Read more…

Tags: Payment Payment Reminder

Credit card parking meters exceeding expectations in LA

Posted by: Matilda Sprent  Posted date: October 17, 2010 in Credit Cards Articles
0

Parking meters in Los Angeles that accept credit cards as a form of payment are proving to be a convenience for the city’s drivers.

According to officials, the new pay machines brought in $230,000 in September, which went beyond initial expectations. When the meters were first implemented, it was expected they could produce between $1 million and $1.5 million annually.

“Since we installed the first of these new meters in May, they immediately began earning their keep in the city of Los Angeles,” Los Angeles Mayor Antonio Villaraigosa said.

The meters allow drivers to pay for spaces with a credit card, rather than having to lug around loose change. Furthermore, machines that need to be repaired can send a signal to technicians, thereby reducing downtime and increasing revenue for the city.

A number of other cities are turning to letting consumers use credit cards as a way to pay for parking or transportation.

Read more…

Tags: Credit Card Meters Parking Meters

Buy Me Some Beer, and Then Cosign My Credit Card

Posted by: Lola Thornton  Posted date: October 16, 2010 in Credit Cards Articles
0

What’s a college student to do when he’s not old enough to buy a six pack of his favorite brew? He simply asks his older frat brother to buy it for him, of course.

And now that the CARD Act restricts anyone under 21 from acquiring a credit card without an adult cosigner or proof of ability to pay, students are using the same old tactic in order to skirt the intent of the law.

Why not get that same frat brother who buys the beer to cosign your application? Your parents’ credit may already be in the tank anyway, so they’re not going to help you out at all. And if you’re lucky, this guy might not even charge you anything. It’s perfectly legal, and it doesn’t hurt anybody, so what’s the big deal?

Well, the big deal is it’s really risky business for co-signers, who often have no clue they’re putting themselves on the hook as joint-account holders and personal guarantors. If either cardholder

Read more…

Tags: Card

Consumer credit card debt continues decline

Posted by: Matilda Sprent  Posted date: October 11, 2010 in Credit Cards Articles
0

The trend of consumers paying off credit card debt seen since last year continued in August, according to a preliminary report from the Federal Reserve Board.

Revolving consumer credit – which is mostly made up of debt on plastic – fell at an annual rate of 7.2 percent in August. This matches the percentage drop seen in July, and is slightly lower than June’s figures.

In all, revolving credit fell from $827.2 billion in July to $822.2 billion in August. Overall consumer debt also declined 1.7 percent, falling roughly $3 billion between the two months.

Since the start of the recession, many consumers concentrated on reducing debt and their reliance on credit cards, which has led to the drop in the amount of revolving credit.

However, some analysts have said the large decline is actually tied to charge offs, which are accounts lenders have written off as uncollectible.

Lenders themselves have become stingier regarding granting different types of loans in their own effort to reduce risk. As

Read more…

Tags: Card Debt Credit Card Credit Card Debt Debt

Does My Credit Score Go Down When I Cancel a Credit Card?

Posted by: Lola Thornton  Posted date: October 11, 2010 in Credit Cards Articles
0

What happens to your credit score when you cancel a credit card? There are an awful lot of myths and misinformation surrounding this topic. Depending on who you talk to or what you read on the internet, canceling a credit card can be the best thing that could happen to your credit score, or the worst mistake you could possibly make.

Neither of these opinions accurately reflects the way your credit score is actually calculated. Let’s take a look at what happens to your credit score when you close or cancel a credit card.

Easy Balance Transer
0% Introductory Rate
Best Reward Program
A Secure Card to Build Your Credit

How Closing Credit Cards Affects Credit

There is one major way in which closing a credit card can affect your overall credit score.

Read more…

Tags: Card Credit Card Credit Score When Score When

Page 30 of 54« First...1020«2829303132»4050...Last »