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...

Mis-Sold Payment Protection Claims Hit Ј4 Billion

Posted by: admin  Posted date: March 26, 2011 in Credit Card News
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A member of parliament has increased concern that the general obligation for payment protection insurance claims and its mis-selling could reach Ј4 billion.

Jonathan Evans rates how the complete expenses of mis sold ppi may be within the billions array, with over recent years the functional figures turning out to be large.

The MP said: “I’ve seen indications that in due course the overall liability in terms of PPI is likely to end up not in the hundreds of millions nevertheless the billions of pounds. I heard a figure of perhaps even Ј4bn mentioned being an end game figure.”

MPs and people of the House of Lords were told that although compensation is very important, the existing structure from the Financial Services Compensation Scheme (FSCS) signifies professional insurance brokers are having to pay the failures of a wide variety of firms; from banks and mortgage brokers to car dealers, doctors, dentists and vets.

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Tags: Mis-Sold Payment Protection PPI Claim

Credit Unions are Still a Great Bargain in the Anti-Bank Era

Posted by: Matilda Sprent  Posted date: March 25, 2011 in Credit Cards Articles
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Credit Unions are Still a Great Bargain in the Anti-Bank Era

Banks have a long way to go before they will restore consumer confidence and high customer satisfaction ratings. But traditional credit unions are still getting stellar reviews because they are affordable, customer-oriented, and offer a healthy variety of financial products including mortgages, credit cards, checking accounts, and auto loans.

Get a car loan with an interest rate of as little as 3.75 percent, for example, if you are a member of the Pacific Postal Credit Union. If you’re in the armed forces you and your immediate family members can get super rates on home equity loans through military credit unions, and if you work in any government agency there is a credit union ready to cater to your needs. But what most consumers don’t realize is that there are also credit unions all over the USA that allow anyone to join. You don’t have to be in a particular profession or work for a specific company. In ma

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Tags: Credit Unions Era Great Bargain

CRL: CARD Act did not lead to increase in credit card rates

Posted by: Matilda Sprent  Posted date: March 24, 2011 in Credit Cards Articles
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Recent research examining the effects of the Credit Card Accountability Responsibility and Disclosure Act (Credit CARD Act) of 2009 revealed that the new rules have actually increased transparency and spurred competition.

A study conducted by the Center for Responsible Lending (CRL) concluded that new credit card rules brought forth by the Credit CARD Act helped to reverse a trend of unclear pricing that may have led to increased debt for some consumers.

This increasing transparency has resulted in a smaller gap between stated rates and actual rates paid on credit cards. As a result, new levels of clarity have been brought to credit card offers.

In addition, the CRL report concluded that in the year since the implementation of the CARD Act (February 22, 2010), credit card rates remained stable and credit limits did not lower beyond what could be attributed to the economic downturn.

These findings about credit card pricing and available credit were contrary to many predictions that the CARD Act legislation would result in higher rates and lower credit limits for consumers.

Included in the research was a comparison of rates for consumer credit cards vs.

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Tags: Card Card Act Credit Card

Short Sales and Foreclosures Have Same Effect on Credit

Posted by: Lola Thornton  Posted date: March 24, 2011 in Credit Cards Articles
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Are you confronted with a possible short sale or foreclosure on your home? If so, you may be wondering how long it will take your FICO scores to FULLY recover after one of these bombshells hits your credit reports.

It’s a great question, and it happens to be one that we receive emails about every day. Well, now we have some hard data from FICO that finally helps clear up all the confusion around FICO scores, short sales, and foreclosures.

Check out this chart: Estimated Time for FICO Score to Fully Recover, which was released yesterday on one of FICO’s blogs.

Essentially, what FICO’s telling us is that if you have a good starting score (780), it will take your FICO score about 7 years to fully recover. In addition, there’s absolutely no difference in recovery time among short sales or foreclosures. The overall effect on credit scores is the same as well.

However, if your starting FICO score is lower, then your score should fully recover in a much shorter period of time. The est

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Tags: Short Short Sales

Leasing vs. Buying a Car

Posted by: John Freycinet  Posted date: March 21, 2011 in Credit Cards Articles
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If you are in the market for a new car it is important that you check out all of your options. For example, how do you feel about leasing a car as opposed to buying it? Asking yourself this question may open up a whole new world of possibilities for you if you feel comfortable leasing a new vehicle. (Here’s some information: Leasing vs Buying) Regardless of whether you are interested in leasing or buying there are few things that you have to get straight in order to get the best deal possible.

Car Price Negotiation Tips

Make sure that you are not too eager when you walk into the car dealership. Salesman can smell an eager buyer coming from a block away. Once they know you are interested in leaving with a new car that day it will be difficult for you to get the best deal possible on a purchase, or lease, price. This is simply human nature. Instead, make sure you act ordinary while looking at the cars and ask questions regarding each make and model.

It is even a good idea if you mention that you might consider a lease. S

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Tags: Buying Car Car

Banks Announce Fee Waivers for Credit Card Donations to Japan Disaster Assistance

Posted by: Lola Thornton  Posted date: March 20, 2011 in Credit Cards Articles
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Banks Announce Fee Waivers for Credit Card Donations to Japan Disaster Assistance

VISA and MasterCard, along with many major banks such as J. P. Morgan Chase, Wells Fargo, and Bank of America, have announced not only their own monetary contributions to Japan’s disaster relief, but also have decided to waive the interchange fees on donations to major charities assisting in the relief efforts.

Waiving the interchange fees will make a significant difference in the total amount of monies received by the charities as interchange fees are the largest percentage of the fees collected by credit card companies.

Some of the banks and credit card issuing companies have placed a time-limit on fee waivers. VISA will not charge fees on donations to Japan relief funds through April 30 and MasterCard through May 15.

MasterCard and VISA, along with several of the banks, have created lists of charities not being charged interchange fees for donations to the disaster relief funds. T

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Tags: Assistance Disaster Assistance Japan Disaster Japan Disaster Assistance

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