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...

Ask Creditnet: How In-Store Financing Can Hurt Your Credit Scores

Posted by: Lola Thornton  Posted date: July 26, 2010 in Credit Cards Articles
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Dear Creditnet: I’m currently in the market for a new TV and Best Buy is offering 0% financing for three years.

My question is when you open an account like this, how big of a hit does your FICO score usually take and how long will it take to rebound?

I could easily pay cash for the TV up front, but the “finance” person in me says it’s free money—why not take the terms?

Answer: Hard inquiries for a new credit card will generally drop your FICO score about five points, but it should bounce back within a few months. In some cases, a hard inquiry may not even affect your FICO score at all, so I wouldn’t worry too much about having an extra inquiry on your credit reports.

However, what you should worry about is how retail credit card deals (what Best Buy is actually offering you) can often wreak havoc on your credit utilization ratio, which accounts for about 30% of your FICO score. Here’s how

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Tags: Credit Credit Scores

Credit Cards Create Jobs

Posted by: Lola Thornton  Posted date: July 25, 2010 in Credit Cards Articles
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The American Bankers Association and Keybridge Research have released a study that shows nearly 40,000 jobs in the Massachusetts area were directly or indirectly created as a result of credit card borrowing by small businesses between 2003 and 2008.

On the national level, the survey noted that credit card lending to small businesses during the same timeframe resulted in the creation of 592,000 small business jobs with an addition 1 million indirectly created. As a result of the credit card’s impact on job creation, the study noted, any reduction in small businesses’ access to credit cards could result in a drop in their ability to hire new employees (Boston Globe).

Tags: Jobs

Truth In Savings Act

Posted by: John Freycinet  Posted date: July 12, 2010 in Credit Cards Articles
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The Truth in Savings Act is a federal law that was put into effect in the United States to protect individuals opening savings accounts. The law mandates that banks fully disclose terms, fees and interests rates to their account holders and potential account holders.

The aim of the law is to make banks more credible and sound, and to help consumers make more informed financial decisions.

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Tags: Act Savings Act

Emily’s list: Living off the land edition

Posted by: John Freycinet  Posted date: July 08, 2010 in Credit Cards Articles
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I’m a city girl, born and raised in Houston. I have spent the past seven years in Austin, a smaller, but lively city where there is always some major event, festival or concert happening. Whenever I drive back home to Houston, I pass by dozens of tiny rural towns, and many homes along the highway clearly not part of any city. Some of the houses are many miles from a gas station or grocery store. To me, this is an absolutely foreign concept.

So I was stunned when I saw an article on CNN this week about an Alaskan couple living 150 miles above the Arctic Circle in an area I would consider inhospitable. In addition to enduring far-below-zero temperatures, the Korth family is utterly isolated — they live 60 miles from their nearest neighbor. They have lived this isolated life for 30 years. Even the reporters expressed shock that people could actually live there. The Korths live off the land: They hunt, fish and trap their food.

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Transaction Identifier

Posted by: John Freycinet  Posted date: July 08, 2010 in Credit Cards Articles
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Visa will give each transaction a unique fifteen digit number that is immediately returned to the inquirer with charge authorization. This number, called the transaction identifier, is then used by Visa to track a transaction when needed. Instances when this number may be needed would be for returns, disputes, or confirmations.

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Tags: Identifier Transaction Identifier

Great Credit Cards for Teenagers

Posted by: Matilda Sprent  Posted date: July 08, 2010 in Credit Cards Articles
1

It is very common for Americans to get their first credit card when they are in their late teens. Unfortunately, it is also all too common for teenagers to run up their bills, getting themselves into serious financial trouble when they are still young. The trick to making sure that this doesn’t happen is to combine two very important things. First, you need to have a commitment to responsible use of the card. And second, you need to choose a good credit card that is specifically designed to help students and teenagers build good credit.

Commitment to Responsible Credit

Before ever getting a credit card, a teen should really commit to responsible use of the card. This involves more than merely saying that you’ll use the card responsibly. Instead, it means taking actions that will help you to be responsible with your credit. Tho

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Tags: Teenagers

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