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...

Where can I find business credit card offers?

Posted by: John Freycinet  Posted date: January 12, 2012 in Credit Card News
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Business and personal credit card offers are everywhere! Large envelopes fill your post box while electronic missives creep into your e-mail, despite your best efforts to filter your incoming messages. Every website you visit features pop-up offers for credit, insurance and other financial services.

Help is here! Use our credit card chaser tool and rise above the confusion!

Credit card offers are prominently featured on radio, television and in most every newspaper and magazine in general circulation. There are even credit card ads on billboards! Sorting through what amounts to literally hundreds of these credit opportunities can be a daunting, difficult, and confusing task.

Who else provides reliable information?

Financial magazines, such as Forbes, and Money Magazine, now affiliated with the CNN News Group, provide consumers with up-to-date information about a wide range of business services including credit cards.

Do all businesses use credit cards?

U.S.

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Tags: Card Offers Credit Card Credit Card Offers Offers

10 Side-Effects of Bad Credit

Posted by: Matilda Sprent  Posted date: January 11, 2012 in Credit Cards Advisor
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I always laugh at those medication commercials that promise to treat a runny nose, but have a long list of side-effects that are actually worse than the runny nose itself. That’s how it is with bad credit. Sure, it might feel good to charge up your credit cards and ignore your billing statements, but the side effects outlast any emotional high you get from your financial misbehaving.

With bad credit, you’ll have trouble renting or buying a house, pay higher security deposits to get your utilities turned on, and pay higher premiums on your insurance. That’s just a few of the ways bad credit affects you. Find out 10 Side-Effects of Bad Credit. The gravity of this list will make you want to get your credit together ASAP.

Tags: 10 Sideeffects Bad

January 2012′s Best 0% Balance Transfer Credit Card Offers

Posted by: John Freycinet  Posted date: January 10, 2012 in Credit Card News
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January typically marks the beginning of balance transfer season for consumers and 2012 looks to be getting off to a good start. Consumers who anticipate needing a significant amount of time to repay their credit cards will find it possible to get a 0% APR balance transfer lasting 21 months, while those who are confident they can repay balances sooner can get a 0% APR for 12 months and pay no balance transfer fees.

Given the availability of both long term 0% APR offers with low 3% fees and shorter term no fee balance transfer cards, selecting the best balance transfer card really comes down to individual needs. Consumers who want to save on upfront fees and are comfortable with only a 12 month 0% balance transfer period are likely best off with the recently released, limited time no fee balance transfer offer from Discover. This card is ideal for consumers who simply need a few months to get caught up on outstanding bills. Y

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Tags: Balance Transfer Transfer

Private Label Cardholders Revolve Their Balances More Often

Posted by: Matilda Sprent  Posted date: January 06, 2012 in Credit Cards Advisor
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Private label cards are issued by retailers to be used at their stores to purchase merchandise. These cards are limited to the places that accept them, and the balances and credit limits are lower than those of bankcards. Because the underwriting criteria are less stringent than bankcards, the risk is higher to the card issuers and interest rates are higher.  This is reflected in higher charge-off rates on private label cards.  According to Fitch, as of June 2011, the average charge-off rate on private label cards was 9.45% and for bankcards was 6.33%

Research highlights

7% of responders cancelled a bankcard; 3% canceled a private label card.

40% of those that canceled private label cards in the previous year did so because of high interest rates.

60% of credit cardholders who revolved (carried a balance) on bankcards also revolved on private label cards.

49% of responders had never paid off a balance on either card within the previous one to four years.

Those surveyed spent more annually on bankcard and debit cards than on private label and charge cards.  They spent 48% on bank credit cards, 32% on debit cards, 14% on private label cards and 6% on charge cards that require payment in full.

Most private label cards were opened at the store at the time a purchase was made, 23% opened an account online and 9% through direct mail.  There are usually incentives at point of sale to help convince you to apply for the card. As

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Tags: Balances Private Label

Ask Creditnet: I’m a Disabled Vet – Who Can Help Me Fix My Credit Problems?

Posted by: Lola Thornton  Posted date: January 04, 2012 in Credit Cards Articles
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Dear Creditnet: I am a disabled veteran who ran into a lot of financial trouble and really messed up my credit reports. Long story short, I basically went crazy and stopped paying my bills because I thought I was going to die every day. Now, my actions just haunt me every day with horrible credit.

I am married with two children and one on the way, and I am nervous that my bad credit is bringing my family down. My wife has good credit and a great job so I feel like I am the only one holding us back. Please, is there an agency or someone who can help me fix my credit problems?

Answer: First, let me thank you for your service in the military. I have a great respect for you and all the veterans who have sacrificed much to serve our country.

Now, in regards to your credit, the positive news here is that your wife still has good credit.

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Tags: Credit Disabled Vet

Obama Proposes Initiative for Making Credit Terms Easier to Understand

Posted by: Matilda Sprent  Posted date: January 01, 2012 in Credit Cards Advisor
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In 2009, a number of improvements were made to credit card statements and agreements in an effort to help consumers better understand their credit card policies.  The 2010 Dodd-Frank law created a federal agency, The Consumer Financial Protection Bureau, for protecting consumers against potentially abusive practices of mortgage lenders and credit card companies.  On Wednesday, December 6th, the Obama administration announced another initiative for helping consumers understand their credit card terms, as the Consumer Financial Protection Bureau has discovered that consumers are still confused over credit card issues.

There are more than 500 million credit cards in circulation in the United States, accounting for about $700 billion of household debts.

Bank Industry Concerns

Banking industry officials expressed concerns over the initiative which would result in credit card agreements with fewer pages, fearing it would put them at a higher risk for lawsuits.  A prototype credit card agreement was released by The Consumer Financial Protection Bureau to the American Bankers Association.  The association’s chief counsel, Kenneth Clayton, said while the association supports the bureau’s goal, he felt the credit card agreement prototype raises liability concerns that could be improved and made even shorter.

The Consumer Financial Protection Bureau will allow the general public to view the prototype agreement and offer their opinion as well.  Most banks use an average of 5,000 words in their credit card agreement, and the prototype uses just 1,100.

Tags: Understand

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