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...

CFPB Proposes Supervision of Larger Debt Collectors and Credit Bureaus

Posted by: Matilda Sprent  Posted date: April 16, 2012 in Credit Cards Advisor
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The Consumer Financial Protection Bureau has proposed a rule that would allow the agency to supervise large debt collectors and consumer reporting agencies, aka credit bureaus.

The CFPB is a new consumer watchdog agency that was created by the Dodd-Frank Wall Street Reform and Consumer Protection Act. As part of its nonbank supervision program, the agency supervises mortgage companies, payday lenders, and private student loan companies. CPFB also takes complaints on credit card issuers. If the new regulation is passed, the CFPB would supervise the largest debt collectors and credit bureaus.

Currently, the Federal Trade Commission is responsible for enforcing laws for debt collectors and credit bureaus, namely the Fair Debt Collection Practices Act and the Fair Credit Reporting Act. However, the FTC typically only takes action after receiving consumer complaints.

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Tags: Bureaus Credit Bureaus Debt Collectors

Student Credit Cards: Do You Really Need a Co-Signer?

Posted by: Lola Thornton  Posted date: April 13, 2012 in Credit Cards Articles
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The Credit Card Act of 2009 bans credit cards for young adults under the age of 21 unless they can show proof of sufficient income or secure a co-signer. Most students are aware of this change now that it’s been a few years since the act was signed into law, but what’s confusing is there are still plenty of student credit cards on the market that claim “no co-signer is required.”

I was even confused the first time I saw this offered after the new rules took effect, so what’s the deal? Are co-signatures really required or not for student credit cards?

What the CARD Act Says

The law itself certainly hasn’t changed. If you’re under 21 and you can’t prove that you have sufficient income to support the proposed extension of credit, here’s what the CARD Act says is required for approval:

Those are a lot of words to basically say one thing—you need a co-signer older than 21. The credit card mar

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Tags: Cards Credit cards

Stable Value Funds for Portfolio Stablization

Posted by: Lola Thornton  Posted date: April 07, 2012 in Credit Cards Articles
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If you were to ask any one of the millions of retirement savers who endured the vicious roller coaster ride of the stock market from 2008 through 2011, whether they would have preferred that their money was invested in stable value funds, the answer would probably be a resounding “YES!” That’s easy to say in hindsight. After all, the average return on stable value funds was more than 3% as compared with, well, who knows what on stock mutual funds during that period of time. As part of the fallout of the 2008 stock market crash and the subsequent volatility, stable value funds have seen a marked increase in deposits. However, is that really the best course of action for retirement savers? Maybe not.

What exactly are Stable Value Funds?

A stable value fund is an investment option available only to retirement savers in qualified retirement plans such as a 401k or IRAs that offer it. Essen

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Review of CreditSesame.com

Posted by: John Freycinet  Posted date: April 06, 2012 in Credit Card News
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Do you have a hard time managing your money and keeping track of your financial goals? If so, you are definitely not alone, as most people have trouble tracking the financial aspects of their lives. If you fall into this category of consumers, CreditSesame.com might be a tool for you to consider.

Its designed to help you keep track of your credit and your net wealth without a lot of extra work on your part. What exactly is CreditSesame.com and how does it work?

Tracking Your Debt Situation

CreditSesame.com makes it possible to easily see whats going on with your debt situation at any given time. If youve ever taken a look at your credit report before, you know exactly how much information it contains.

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FICO’s Banker Survey Predicts Delinquencies to Increase

Posted by: Matilda Sprent  Posted date: April 06, 2012 in Credit Cards Advisor
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The bankers expected delinquencies on student loans, mortgage and credit cards to increase and the global economy will put more pressure on the U.S. economy. Student loan delinquencies were the top concern and 67 percent expected them to continue to rise; which was a 40 percent increase from last quarter.   Student loan debt has surpassed credit card debt.  The next category, mortgage delinquencies, trailed behind at 47 percent predicting that delinquencies would continue to increase.

In fourth quarter 2011, bankers felt strongly that approval criteria for credit and loans will not become less stringent over the next six months. In first quarter 2011, the responders were more optimistic about delinquencies on mortgages, home equity loans, credit cards and auto loans. They became less optimistic through each quarter of 2011.

Consumer credit by industry

67 percent expected student loan delinquencies to rise; this was a 40 percent increase or 19 percentage points from the last quarter. On

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Tags: Delinquencies Increase Increase

How Much Does It Cost to Pay Taxes with a Credit Card?

Posted by: John Freycinet  Posted date: April 03, 2012 in Credit Card News
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Paying taxes is one of the two inevitable events in life and as much as we dislike it, it is certainly preferable to the other. Nevertheless, there can be a silver lining to a taxpayer’s burden when they use their credit card to make their payment. Doing so can earn rewards and finance a large tax bill. While there are four different companies that accept tax payments on behalf of the IRS, each will charge a percentage of the amount paid as a “convenience fee”. Therefore, it is important for taxpayers who use their credit cards for IRS payments to carefully pick the company they use for processing.

WorldPay US, Inc.

WorldPay accepts IRS payments of personal and business taxes. Customers who pay with a MasterCard or a Discover card can do so at payUSAtax.com. There is a convenience of 1.89%, with a minimum fee of $3.89.  Alternatively, cardholders can use their American Express card at ValueTaxpayment.com where payments will incur a 2.29% convenience fee. WorldP

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Tags: Taxes Taxes Credit