Credit Cards

Credit Scores Or Finances

December 21, 2010

Yes, it kind of is a “damned if you do and damned if you don’t” situation. And it is also true that doing what is best for you financially does not always equate to getting the highest credit score. For example, if you settle one of your past due debts for less than what you [...]

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Debit, Credit, Cash

December 15, 2010

There is an advantage to using a debit card over a credit card…at least you’re only spending what you have and not charging and paying interest. But using a debit card can cause some problems that you don’t get with a credit card. For example, phantom charges. Phantom charges can show up when you use [...]

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Salvation Army Takes Credit Cards

December 8, 2010

Walking out of the store the other day, the person I was with remarked that the little red kettle from the Salvation Army must be hurting as not one person that was ahead of us in line used cash, everyone used a card of some sort. In the past the Salvation Army red kettles accepted [...]

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Kardashian Card Is History

December 7, 2010

The debit card that was targeted towards teens and had the likeness of the Kardashian sisters on the front has been withdrawn from the market. 250 consumers bought the MasterCard-branded “Kardashian Kard” since it was launched on November 9 and these people can continue to use the card for up to 30 days and then [...]

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No Spending Limits May Be A Problem

December 2, 2010

Depending upon how the company chooses to report to the credit bureaus a credit card with no spending limits may be detrimental to your credit score. If the card is reported as “open” it probably will not affect your credit score, however, if it is reported as “revolving” and the balance is set for the [...]

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Credit Card Use Is Down

November 30, 2010

Over the past year more than 8 million consumers have eliminated their credit cards. Only about 62 million people have an active credit card now compared with 70 million a year ago. Some of the speculation is that people fell behind on their payments due to the recession and that the loss of the credit [...]

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Beware Of The Interest Rates On Store Credit Cards

November 15, 2010

If you must use them at all, that is. Store credit cards are much more detrimental to your credit score than the typical credit card. After all, 10% of your score is determined by the type of credit that you have. The credit bureaus don’t like retail cards. A regular credit card is much more [...]

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Responsible Credit Card Use

November 8, 2010

There are ways to use a credit card that is completely to your advantage. But when you are completely responsible with your credit card, the credit card companies are not making the profits they need and expect. So apparently it is a good thing that there are the irresponsible users also (makes it more beneficial [...]

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The CARD Act of 2009 And The Benefits For Consumers

October 27, 2010

On February 22, 2010 the Credit Card Accountability Responsibility and Disclosure Act of 2009 took effect. The CARD as it is more popularly known, is a comprehensive credit card reform legislation that is meant to establish “fair and transparent practices relating to the extension of credit under an open end consumer credit plan” and for [...]

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Money For Nothing…..

October 25, 2010

(and chicks for free…) Even though fewer people may be able to qualify, right now there is a plethora of “No Interest” credit cards being offered. The fact is that the credit card companies need to get more customers and increase their revenue. But if you can quality, is a no interest credit card a [...]

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