June 2010

The “Follow Me Down” Phenomenon

June 30, 2010

Paying off debt is a good thing. You pay off your debt you no longer have to worry about payments, late or otherwise. You have the peace of mind of knowing that you are living within your means. Living debt-free is easier all around. And there was a time when paying off all of your [...]

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Pay Off Your Credit Cards, But….

June 29, 2010

Don’t let them get cancelled. To help your credit rating and increase your credit score, it will help to pay off your credit cards. Carrying a zero balance on a card that has a relatively high credit limit will always help you to increase your credit score because of the debt to available credit ratio. [...]

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What Looks Like Junk…..

June 28, 2010

With the banking crisis and the recession looming large, the past year has brought a halt to many of the banks most egregious practices. Excessive fees for overdraft protection (paying $35.00 more for a $5.00 mistake) and the way that lenders could raise interest rates in what seemed to be an arbitrary manner have been [...]

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Kill Your Credit Score

June 25, 2010

There are a few things that you can do that will immediately kill your credit score, dips for 50 to 100 points or more depending upon where you started. And while you probably would never want to do this on purpose, here are the top things that will kill your score. · Maxing out your [...]

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Prepaid Credit Card With High Interest Savings To Boot

June 24, 2010

Mango Money is now offering a prepaid Mastercard with no overdraft or hidden fees and you can also get a Mango savings account that pays 5.1% (yes, that is 5.1% over 14 times more than the current industry standard). And there is no activation fee, no purchase fees and No Credit Check. Of course, there [...]

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Did You Choose A Credit Repair Company That Is BBB Accredited?

June 23, 2010

There are plenty of credit repair scams out there and if you do some searching around the Internet you will find plenty of uneducated (as in this case, they don’t really know what they are talking about) people claiming that there is no such thing as real “credit repair”. And while it is true that [...]

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Read Every Notice

June 22, 2010

(And….Climb every mountain, ford every stream….oops, sorry, I digress) With the CARD act securely in place you may believe that you are immune to rate increases on your credit cards. Nope. Not the case. The CARD act only states that you will be given “notice” of at least 45 days prior to a rate increase [...]

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Half The Hurdle Is Passed As Senate Okays Closing Extension

June 21, 2010

The Senate passed the proposal to extend the closing date for the $8000.00 homebuyers tax credit to September 30, 2010. On Wednesday, June 16, the amendment was ratified in a 60-37 vote, mainly along party lines, with only four Republicans voting for it (4?? Oh, how I would love to comment on that….but I won’t [...]

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Chargebacks And The Blacklist

June 18, 2010

If you use a credit card for a purchase and for some reason you need to dispute the charges, for example, you never received product, or it was misrepresented, and you ask for a “chargeback” on your card, you run the risk of being put on a blacklist that can prevent you from using your [...]

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Credit, Debit or Charge

June 17, 2010

Not all cards are created equal. Credit cards offer a line of credit that is accessible through the use of your card. Every month you receive a statement and you are required to pay a minimum payment. A Charge card is similar to a credit card with the difference being that you must pay the [...]

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