List/Grid Monthly Archives: July 2010

What Do The Stores Know About You?

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 the first quarter of 2009. But the Big Apple of New York is still in the doldrums as luxury spending was down 7.7%. Atlanta was the worst in the country, down at 18.2%. Retailers track customers’ spending habits and get a ...
Read more »

You Should Monitor Your Credit Score

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 estate market but definitely in a normal market someone else who could get a mortgage would swoop in and steal it away!) But people with a high credit score typically enjoy lower rates and better terms whenever they need to borrow money. To have that peace of mind, ...
Read more »

Negotiating With Your Credit Card Company

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 the past you may not get help either. Keep the information you offer at a minimum. Don’t tell about income levels, assets or anything else. Look out for yourself because the credit card companies will only look out for their own profits. Read ...
Read more »

Tougher Mortgages Here To Stay?

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 in a recent speech that mortgages will be harder to come by. It will take longer to get a mortgage and fewer people will be able to become homeowners. Not such good news for the housing market, which still has a glut of inventory and many, many more ...
Read more »

Credit Repair Success Stories

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, but don’t cancel accounts. · Pay off your small balances or the highest interest balances and work your way through it all. · Check your reports regularly.
Read more »

Good News For Car Buyers

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 financial, which was formerly known as GMAC will continue to finance the loans for the buyers who have good credit.
Read more »

New Lows Across The USA For Credit Scores

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 of 599 or below, which is considered a poor risk for lenders. With the tighter lending standards that are also now in place, it would seem that this would create additional lag on the economic recovery. Credit scores are dropping ...
Read more »

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

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 who do use credit cards due to the across-the-board price increases that are used to cover the additional costs of accepting the cards. Also, it was found that the use of credit cards and rewards programs was directly correlated ...
Read more »

Top of Page

Copyright © 2009 to 2019 by 724Credit. All rights reserved.