List/Grid Tag Archives: credit card score

Understanding Credit Basics

Credit – The ability of a customer to purchase goods and avail services before payment, based on the trust that the payment will be made in future. How to improve your score? If you want to improve your credit score, follow the following tips. Subscribe to healthy repayment habit: (a) Pay your bills on time, don’t delay. (b) Clear the missed payments. (c) Get counseling and understand how to not let it fall Manage your debt. Keep the balances low, in fact very low. Pay off debt rather than delaying it. Don’t close unused cards. Don’t ...
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Holidays And Credit

Holiday shopping is in full swing and while there may be some that are spending less this holiday season due to the economy, the fact is that the holiday season is still the biggest and brightest for the retail sector. However, you may want to take into consideration how you will pay for your holiday season this year. You can pay cash and be done with it or you can use credit and still be paying for this year’s holiday next year (and the year after and the year after, especially if you only make minimum payments.) Check out 7 Reasons To Avoid ...
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Credit Card Use Is Down

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 card was involuntary. Another idea is that people are just getting smarter and not using credit so much. And it is probably a little bit of both. It is useful to point out though that if you eliminate a credit card, whether it is voluntary ...
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Deceptive Credit Card Offers

Credit card companies are sending out some pretty deceptive solicitations despite the increased regulations with the CARD act. For example “0% APR”, read the fine print and you will see how easily that 0% can turn into 29.99%….. Or “Low APR”, apparently the word “low” lies in the eye of the beholder, is 18% still low? Your call, but only if you read the fine print. And there are more….check out the 8 most deceptive terms used on credit card offers at the Huffington Post.
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Credit Card Cutbacks

But is it the consumers or the banks? Credit card debt, which has had a continuous rise since the Federal Reserve started tracking it in 1968 until September of 2008, is continuing now in a steady decline. At this time the average amount of revolving credit is 15% lower than at its peak and it has posted a monthly decline in each of the last 20 months. May 2010 saw a decrease of $7.32 billion leveling out at a $830.83 billion. There seems to be a few contributing factors. The exceptionally weak job market has more people defaulting but also the ...
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A Great Credit Card Customer

You may have heard someone say, “I’m a great credit card customer. I pay off my balance every month”. Well, yes and no. Yes, it is good for you as a consumer to pay off your debt every month. You never get behind, you never have a late payment, and you avoid being overextended on your credit card. But as far as the credit card companies go, you’re not such a great customer. You’re not the type of customer that they like. And of course, the reason why is that they are not making any money from you because you are not paying interest ...
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New Warnings For Credit Card Consumers

The new regulations of the Credit Card Act of 2009 went into effect on February 22, 2010. Many of the new regulations will have a positive effect on consumers as credit card issuers will now have to conform to stiffer regulations regarding such things as raising interest rates on e
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Final Rules For Credit Card Act

On Tuesday, January 12, 2010 the Federal Reserve Board approved the final rules amending Regulation Z also known as Truth in Lending in order to implement the provisions of CARD or the Credit Card Accountability Responsibility and Disclosure Act of 2009, which will become effective February 22, 2010. Some of the high points of CARD Act include · Prohibition of creditors issuing credit cards to consumers who are under the age of 21 unless the consumer has the ability to make the required payments (think Hannah Montana 😉 ) or gets a parent or ...
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