Posts tagged as:

Credit Cards

3 new credit card fees you should know about

10.25.2009

I was just listening the morning radio show that I normally wake up to and they pulled me out of my slumber a little quicker than usual when they started talking about credit cards. Apparently since all the new rules for credit card companies go into effect in a few months, many of them are [...]

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What to do if you’ve been turned down for a loan

09.26.2009

Turned Down For a Loan? Improve Your Loan-Ability!
This article was written by Becky House, Education Manager for American Financial Solutions. For more information about credit scores, budgeting or managing your debt, visit MyFinancialGoals.org or contact Becky at 1.800.894.3946.
Two years ago, someone with a 600 (poor) credit score could qualify for a mortgage or car loan. [...]

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Credit card use – my thoughts

07.06.2009

Credit cards are not inherently evil, but they should be used with absolute caution and probably avoided altogether if at all possible…. Last week I started running a poll on the site to find out a little bit more about the credit card habits of the readers…

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Credit card rewards coming to an end?

06.01.2009

Recently a discussion popped up in the forums discussing the end of credit card rewards. The discussion was spurred by an article from the NY Times (thanks Krozfan!).
In the article, the author mentions that:
…Congress is moving to limit the penalties on riskier borrowers, who have become a prime source of billions of dollars in fee [...]

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How to manage your debt in a recession

05.18.2009

What have you done to manage your debt in light of our current recession? Have you started paying more, or less?

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Visa gift cards: A good idea?

05.17.2009

If you are returning an item, the transaction will work similar to that of credit or debit cards. You just provide the merchant with the card and the funds will be credited back to the card. Who sells Visa gift cards?

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Should college students be issued credit cards?

05.06.2009

Should credit cards be issued to college students? If you use the fire analogy that people often do when referring to credit cards, then parents should be teaching their kids how to use the credit cards (fire) rather than what actually happens to many college students. I remember walking around my college campus during orientation and seeing credit card booths everywhere giving out free t-shirts if you signed up for a card! Woo Hoo!

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Money Mistake #4 – Not having a schedule for bills

05.04.2009

I was wondering how to pay bills and this was the solution I came up with…

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Money Mistake #3 – Not paying attention to interest rates

04.07.2009

I don’t remember what the interest rate was that they were charging her, but it was obviously pretty ridiculous. And for me, even though I was playing the 0% balance transfer game with all of my credit cards, It wasn’t until I saw this that I finally understood the importance of having a good interest rate.

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6 steps to reducing your credit card interest rates

03.05.2009

It is so critically important to reduce your credit card interest rates, if you don’t it will take a whole lot longer to get out of debt. Not to mention that it will cost you hundreds or thousands more in interest charges as well!

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They cancelled my credit card

01.01.2009

I just saw this article called “My credit card was cancelled” on the money section of CNN.com. In it a reader asks a question about why her credit card company closed her account and how it would affect her credit score. The answer was a new one to me…

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Surviving the inevitable Credit Card crisis

12.31.2008

This isn’t really surprising if you think about it, but we can be sure that the credit card companies will be changing some policies as they adapt.

…The good news is that there have been so many complaints over the last few years that the government has stepped in and is creating new rules to prevent credit card companies from doing this. … Card companies will have to give consumers 45 days notice of any interest rate changes, up from the 15-day notice period currently in force, and give them more time to make payments.

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Another thing I didn’t know about credit cards

12.03.2008

I just caught up reading this month’s issue of Money Magazine. They had a quick little blurb called “What not to buy on credit.” It turns out that credit card companies are doing a bit of actuarial research and have discovered that they can identify credit risks in some non-traditional ways: where you shop. According to the article some major credit card issuers “now factor in where people use their cards when making decisions to cancel credit lines or slash spending limits.”

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How to negotiate with credit card companies

11.26.2008

I learned how to negotiate a better interest rate…A few years ago, when I had over $15,000 of credit card debt, I was often negotiating with credit card companies to get better interest rates. I took a very active approach toward minimizing my interest expense on my debt and learning to negotiate with credit card companies was a key component. I am a big fan of the debt snowball method for getting out of debt and you actually can use this as another tool to speed up the debt reduction process.

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