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...

Obama gets personal with personal finance journalists

Posted by: John Freycinet  Posted date: June 18, 2011 in Credit Cards Articles
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Facing 25 online personal finance journalists, President Obama got personal, giving a glimpse into his own financial history — including the money advice his grandmother gave him and why the $125,000 in student loans he and his wife Michelle racked up was a good investment.

The president was an unscheduled drop-in guest at the Personal Finance Online Summit, an event held Wednesday at the White House. During the event, high-level administration economic officials gave an afternoon of on- and off-the-record briefings to an assorted group of online personal finance editors, myself included. The idea for the summit came, presidential message adviser Stephanie Cutter said, because “Americans are looking to take charge of their personal finance issues …

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Tags: Finance Finance Journalists Personal Finance Personal Finance Journalists

HSBC CEO Says U.S. Credit Card Business No Longer Makes Strategic Sense

Posted by: Lola Thornton  Posted date: June 17, 2011 in Credit Cards Articles
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The CEO of HSBC, Stuart Gulliver, announced recently that while he’s pleased with the state of the U.S. economy, he feels keeping the card business in the country does not make strategic sense. As a result, he is hinting at the possibility of phasing out the company’s credit card business in the United States.

HSBC Looking for a Buyer

While attending a World Economic Forum event in Jakarta, Gulliver told reporters on the sidelines that he was considering a departure from the U.S. card market. He stated, “If we can’t find a buyer we will put it into rundown.”

HSBC is currently Europe’s largest bank. Last month, it said it planned to slash up to $3.5 billion in costs and cut back in retail banking in order to lift its return on equity.

Gulliver Wants to Change the Shape of the Business

The bank noted its decision to consider dropping the U.S. card business has a lot to do with the fact that the U.S. customer base

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Tags: Card Business Sense Strategic Sense

Protesting Credit Report Info Rarely Changes Anything

Posted by: Matilda Sprent  Posted date: June 17, 2011 in Credit Cards Articles
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Recently released results of a study related to Federal Trade Commission research into credit reporting fairness show that only one out of about every 100 people who try to get the information in their credit report changed actually succeed in doing so. The study, with the title “U.S. Consumer Credit Reports: Measuring Accuracy and Dispute Impacts,” was done to determine the accuracy and quality of data collected and maintained by the three major credit reporting agencies, namely Experian, Equifax, and TransUnion. What researchers discovered was that less than one percent of all credit reports examined by participants prompted a dispute that resulted in a credit score adjustment and an increase of a credit score of 25 points or greater.

The conclusions are nothing new, because a similar study back in the early 1990s found the same thing. Basically what these experts find is that errors do exist in credit reports, but most of these errors are so minor in terms of their overall impact on a person’s credit profile or FICO score that they are not crucial. Fixin

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Tags: Credit Report Info

Report: CARD Act did not cause a decline in credit card offers

Posted by: Matilda Sprent  Posted date: June 12, 2011 in Credit Cards Articles
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A recent report from the Center for Responsible Lending (CRL) revealed that that the passage of the Credit Card Accountability Responsibility and Disclosure Act (CARD Act) did not negatively affect consumer access to credit card offers, as some predicted it would.

Using data from Mintel Comperemedia, the CRL found that the neither the passage of the CARD Act nor its implementation caused a decline in the volume of new direct mail credit card solicitations.

“Mail volume is up and has not suffered due to the CARD Act,” CRL senior researcher Josh Frank said in a video discussing the report.

According to the report, the CARD Act’s implementation actually appears to “coincide with a period of rising mail volume” when adjustments for the recent economic downturn are factored in.

“Mail volume has been rising since the CARD Act was passed and since the CARD Act implementation,” Frank, who authored the CRL report, said. “There is no

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Tags: Card Card Act Credit Card

5 Ways to Improve Your Credit Score

Posted by: John Freycinet  Posted date: June 11, 2011 in Credit Cards Articles
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While the easiest way to protect one’s credit and one’s credit score is to never allow it to come under pressure, this is not always a realistic approach. Below are five tips on how to improve and maintain one’s credit rating that are easy to follow and have a demonstrated track record of being effective. While it is not necessary to follow all of these tips to see an improvement, the more of them that are adhered to, the more likely that a significant increase can be achieved in a shortened time period.

In an ideal world, it would never be necessary to be late when making a payment on a credit card, car loan, or other debt. It is often unavoidable, however, due to circumstances beyond one’s control. Circumstances change, disasters happen, and at some point, most individuals find themselves facing a situation where a payment is due and they do not have the funds necessary to make the payment by the deadline.

When this happens, the most common reaction is to feel embarrassed and simply make the payment late, quietly paying the late charges and moving on. While m

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Tags: Credit Score Score

‘Rip-off’ credit card booking fees may end

Posted by: Lola Thornton  Posted date: June 10, 2011 in Credit Cards Articles
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The days could be numbered for ‘fake fees’ – excessive card charges applied on low-cost airline flights and other tickets.

The Office of Fair Trading is due to report the findings of its inquiry into the practice within weeks.

It follows a ‘super complaint’ by consumer lobby group Which? about the charges, which in some cases are as high as 12 per person for each booking.

Which? wants to see the regulator crack down on the charges, which in many cases bear no resemblance to the cost to the airline or other businesses of processing the payment.

Pressure is growing on the low-cost airline sector to change its charging structures and become more transparent.

Monarch this month scrapped the 3.5% charge it had applied on debit card payments. Chief executive Conrad Clifford said there was no justification for such charges.

But it is not only the transaction fees that anger consumers.

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Tags: Fees Fees May

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