July 2010

Unemployment and Politics

July 30, 2010

The unemployment extension package finally passed Congress but without any help from the Republicans who have stated that the unemployed are “spoiled”, have a disincentive to work, don’t want the jobs that are available, are “hobo’s”, and who will just take their unemployment benefits and “blow it on drugs”. Republican Sharron Angle, running for Senate [...]

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What Do The Stores Know About You?

July 30, 2010

Apparently a lot more than you realize. Stores across the nation collect shopping data which highlights regional preferences and perhaps even upswings in the economy. Detroit, one of the cities that was hit the hardest by the economic meltdown had a growth of 18% in luxury spending during the first quarter of 2010 compared to [...]

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You Should Monitor Your Credit Score

July 30, 2010

Most people never even consider their credit score until they need it. And unfortunately at that point it is usually too late. Too late if you want to get that auto loan. Too late if you want to get that mortgage and house. Too late. (well, maybe not for the house in this current real [...]

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Negotiating With Your Credit Card Company

July 29, 2010

Don’t expose your hand. Like any good poker player you must keep your cards to yourself. For example, if you know you’re in trouble but the credit card company or lender does not know it yet, meaning you haven’t yet missed a payment, you won’t get any results or response. If you’ve had problems in [...]

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Incentive For Paying Your Credit Card?

July 29, 2010

Credit card companies have begun to use an unusual tactic with their formerly best customers. Credit card borrowers who charges high amounts and then only paid the minimum payment every month used to be the favored customers because they always brought in that interest profits. But recently those same borrowers are actually being offered cash [...]

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Tougher Mortgages Here To Stay?

July 29, 2010

The recent housing bubble and real estate slump that came along with the worst recession since the Great Depression has resulted in a tightening up of mortgage standards and it looks like it may be here to stay, maybe forever or at least for a while. The CEO for Fannie Mae, Michael J. Williams said [...]

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Credit Repair Success Stories

July 28, 2010

Check out this article on Fox Business news about some credit repair success stories. It can be done and the most important things are · Paying on time, no matter what, try automatic bill pay if necessary. · Be patient and persistent. · Get rid of store cards and keep just the major credit cards, [...]

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Good News For Car Buyers

July 28, 2010

If you want to buy a car and you can’t pay cash, there is good news for you. General Motors, one of the big three American automakers has said that it will acquire the auto financing company Americredit Corp so that it can increase the leasing and sales to buyers with lower credit scores. Ally [...]

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New Lows Across The USA For Credit Scores

July 28, 2010

Gotta a low credit score? You’re not the only one! Credit scores across the United States are dropping to new lows. According to FICO, inc., the company that provides the most commonly used credit score in the United States, the FICO score, right now as many as 25.5 percent of consumers have a credit score [...]

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Reverse Robinhood-Take From The Poor, Give Back To The Rich

July 27, 2010

A new study from the Federal Reserve Bank of Boston has confirmed the theory that credit card rewards hurt the poor while subsidizing the rich. The report, “Who Gains and Who Loses From Credit Card Payments? Theory and Calibrations” that was released Monday, the people who do not use credit cards are subsidizing the people [...]

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