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...

Credit Card Defaults and Late Payments Drop with Top 6 Card Companies

Posted by: Lola Thornton  Posted date: May 14, 2011 in Credit Cards Articles
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Consumers have managed to lower their credit card defaults and late payments with the top six card companies in April, says a new report from The Associated Press. The report revealed that more card users are in control of their spending than they have been in some time.

Card Issuers See Improvement in Customer Payments

According to the report, card issuers saw major drops in defaults (balances considered uncollectible, or charge offs) and late payments in April:

  • Capital One Financial Corp.: Cap One reported a drop in defaults to 4.97 percent annualized, which is the biggest drop among the card issuers and is a level not seen since late 2007.
  • American Express Co.: Amex celebrated the lowest default rate, which was 3.5 percent. Th

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Tags: Card Companies Companies Credit Card Defaults Late Payments

Should I Report Credit Card Fraud to the Police or FBI?

Posted by: Matilda Sprent  Posted date: May 14, 2011 in Credit Cards Articles
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Q: Who should I report credit card fraud to, the police or FBI?

A: You should report credit card fraud to your local police. You can either call the number or go in person to the police department. Don’t call 911; instead use the non-emergency number, which you can often find with a quick internet search. Some police departments will even let you fill out a police report on their website.

Reporting it to the police is good, but you should also report the fraud to your credit card company. Most cards have a number on the back that you can call 24/7. If yours doesn’t, you can find the number on the company’s website. It’s also a good idea to cancel your card or see if they will change your card number so that whoever stole your card number cannot continue to use it. Make sure you call as soon as you discover the fraudulent activity. If you wait too long, you may become responsible for the charges.

Hopefully, the fraud did not affect your credit report. If it d

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Tags: Card Fraud Credit Card Credit Card Fraud Fbi

Study: Late Fees Decline and Interest Rates Stabilize Due to Credit Card Act

Posted by: Lola Thornton  Posted date: May 10, 2011 in Credit Cards Articles
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A study released on Tuesday from the Pew Charitable Trusts says that credit card late payment fees have declined and interest rates have stabilized thanks to the credit card legislation. While the study notes that the changes occurred two years after the legislation was signed, this could mean the law has truly made an impact.

Credit Card Act Has Made a Difference

The study, which examined about 300 consumer credit cards offered via the internet by the 12 largest banks and credit unions from March 2010 to Jan. 2011, shows that a number of positive changes have occurred as a result of the Credit CARD Act.

One major change is that charges for late payments on U.S bank-issued cards decreased from a median of $39 to a range of $25 to $35. How

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Tags: Card Credit Card Interest Rates

Can unused credit cards impact your credit score?

Posted by: Matilda Sprent  Posted date: May 09, 2011 in Credit Cards Articles
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Those innocuous looking credit cards sitting peacefully in your wallet or purse, unused and docile, still impact your credit score. Believing they have no effect, since they have zero balances, is a common mistake.

Whether used or untouched, credit card accounts influence your credit score. When you apply for credit card offers, you are also agreeing to affect your credit score for better or worse.

The benefit or detriment to your credit score is a function of the rest of your “profile.” Since the exact formula for computing credit scores is a tightly kept secret, it is impossible to precisely predict the impact numerically.

However, there are proven indicators that can project an increase or decrease in your score from credit cards that you keep in a dormant condition. Hypothetical examples might give you the best idea of how your score will respond.

Positive impact example

You have a mortgage, an auto loan, and three credit card accounts. You

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Tags: Credit cards Credit Score Score

Mom’s influence on our money handling skills can be good or bad

Posted by: John Freycinet  Posted date: May 06, 2011 in Credit Cards Articles
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I can thank my mother for helping me become the tightwad that I am today. I’m not alone.

As a new CreditCards.com poll shows, the family member identified the most for influencing our financial habits and money management prowess is dear ol’ Mom. The poll of 1,004 adults found that more than a quarter (26 percent) chose mom as the chief influencer of their money handling skills. Dad was second with 21 percent.

But as several financial literacy and credit counseling experts pointed out during interviews, parental influence on our money management skills can be both positive and negative.

“What if mom and dad have poor personal finance habits?” asked Gail Cunningham, spokeswoman for the National Foundation for Credit Counseling. “It is highly likely that those habits are passed along to the children, thus perpetuating the problem.”

She added: “Whether it’s mom or dad who most influences you, now that you’re an adult it’s important to evaluate whether or not that influence was a positive one.

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Best Deals With Chase Ultimate Rewards

Posted by: Matilda Sprent  Posted date: May 05, 2011 in Credit Cards Articles
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If you own one of three Chase credit cards — the Chase Freedom or Sapphire personal credit cards or the Chase Ink business card — you’re eligible to participate in Chase’s Ultimate Rewards program.

Under this program, you can convert the rewards points you earn with these credit cards into everything from gift cards to home electronics to hotel stays and ocean cruises. The program is free. But as you shop the online home of the Ultimate Rewards program, you’ll find that certain rewards result in a better bargain for your dollar.

You may prefer to turn your rewards points into cash. That’s one way to make sure that you get the most bang for your buck. But if you’d prefer to turn your rewards points into laptop computers or restaurant gift certificates, you’re going to have to do some savvy shopping on the Ultimate Rewards site. It’s the only way to make sure that you spend your hard-earned rewards points wisely.

The Gift Card Read more…

Tags: Rewards Ultimate Rewards

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