Use Caution with Credit Repair Offers
March 26, 2008
With so many people facing credit related problems it is no wonder that many are seeking help from credit repair companies. The Federal Trade Commission recently warned people to be careful when dealing with such companies and to be on the lookout for illegal promises.
Understanding Your Grace Period
March 10, 2008
Those consumers who want to save money on their credit card use should understand the grace period associated with a card and use that to their advantage. How? Pay the balance within the grace period and avoid being charged interest or finance charges.
Credit Card Rate Hikes Coming for Many
March 4, 2008
If you hold a Bank of America credit card you should be watchful of the mail. Recently, Bank of America informed thousands of its cardholders that they would face a rate hike from 9 percent to as high as 28 percent if they did not pay off their balances at the old rate and stop using their cards. Many of these cardholders were current on their payments and in no way close to defaulting on their card loans. In other words, they were good customers.
Credit Card Bill of Rights
March 3, 2008
Representative Carolyn Maloney (D-NY), Chair of the Financial Institution and Consumer Credit Subcommittee, introduced a bill on February 7 that addresses current issues and problems associated with credit cards.
Congress May Hit Back
February 22, 2008
Credit card companies have been pulling some pretty smooth moves lately on consumers. Now, Congress is hitting back with a Federal bill that is aimed at giving credit card holders some protection against capricious and unwarranted increases in interest rates. The bill is scheduled to go before the U.S. House of Representatives soon.
Credit Card Shenanigans
February 20, 2008
Here they go again. Some of the nation’s biggest credit cards issuers have decided to raise rates as a measure to boost their falling profit levels. The problem with this idea is that those who may be impacted by the rate hike are often the best customers on the company roll book.
Choosing a Bad Credit Credit Card
February 13, 2008
In a perfect world, we would all have perfect credit and the best credit cards available. We don’t live in a perfect world and many consumers who have had bad credit histories in the past may find it impossible to get low interest, top of the line, credit cards. When a consumer simply must have a credit card, perhaps for work or travel reasons, they may be faced with getting what is known as a “bad credit” credit card.
Credit Cards: When is More Better?
February 1, 2008
Is it financially good to have several credit cards? How many are too many?
GE Credit Card Information Missing
January 30, 2008
It was recently reported that a backup tape that contained information from literally hundreds of United States retailers nationwide was missing. The information contained on the tape was credit card information that was being stored by the various retailers. The news has forced the company that was responsible for the information to warn customers of those retailers that their information may be in jeopardy.
Are Credit Card Balance Transfers for You?
January 28, 2008
Many consumers used their credit cards to fund their holiday shopping last year and now it is time to pay those bills. This is a prime time of activity for many credit card companies to try to bring you onboard with their company by offering balance transfers. Do not be surprised if you begin to see your mailbox filling with offers from various credit card companies touting their great transfer programs. But be careful before you sign on the dotted line.