Credit Cards For Fair Credit

Any advice on reducing/paying off credit card debt, without damaging credit?

admin — Sun, 05 Sep 2010 00:22:12 +0000

Any advice on reducing/paying off credit card debt, without damaging credit?

My husband (of 1 year) has a large amount of Credit Card debt, and two of them have just raised the intrest rate. The intrest hike was to due to him co-signing on a car loan for his younger brother, who missed a few payments (paid off in Dec.). He has transferred balances so much in the past , and because of the co-sign nightmare, he is now unable to transfer to get the lower intrest rate. We own a home, but haveonly been in it for 9 months. Any suggesstions?

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Pay Now Or Later – Debit Vs Credit

admin — Fri, 03 Sep 2010 12:00:19 +0000

Which is better, debit or credit? Can’t decide if you should shop with a debit or credit card? This article will discuss some of the similarities and differences between shopping with a debit card versus shopping with a credit card.

When you use a debit card, the bank subtracts money from your bank account. Debit cards allow you to spend only what is in your bank account. It is a rapid transaction between a merchant and your personal bank account. Debit cards can have monthly or per transaction fees so review the cardholder agreement carefully.

One type of debit card is a check card that can be used as a credit card or as a debit card at grocery stores, gasoline stations, restaurants, or drug stores. When used as a credit card you sign the receipt as you would a regular credit card. When used as a debit card you enter your PIN. Some banks may charge a fee for using a check card as a debit card. A check card is identified by the word ‘Check Card’ across the top of the card. Visa has created a line of check cards with a Visa logo that can be used at all locations where Visa is accepted. Most, but not all, transactions are verified to see if there are adequate funds. Instead, of using a PIN number, you must sign a receipt, as you would with a credit card.

Credit is money made available to you by a bank or other financial institution, like a loan. The amount the issuer allows you to use is determined by your credit history, income, debts, and ability to pay. You may use the credit with the understanding that you will repay the amount, plus interest if you do not pay in full each month. You will receive a monthly statement detailing your charges and payments.

Credit cards are protected under the Fair Credit Reporting Act but debit cards are not. The Visa(TM) check card is linked to your checking account. Visa(TM) check cards have a zero liability policy that protects consumers but not all banks have this protection.

If your debit or check card is lost or stolen report it to your bank immediately. Government regulations require debit card issuers to set a maximum liability of $50 if the debit card is reported lost or stolen within two business days of discovery. Your liability increases to $500 if the lost or stolen debit card is reported within 60 days. If you don’t notify the bank of the theft within 60 days after a bank statement is sent you could lose the money in your checking and overdraft accounts.

Here are six tips for protecting your debit card or credit card.

1. If your card is lost or stolen, immediately notify your bank.

2. If you suspect your card is being fraudulently used, immediately report it to your bank.

3. Always verify how much money you have available in your account. Be mindful that your debit card

may allow you to access money that you have set aside to cover a check that has not cleared your bank yet.

4. Save your receipts from your debit or credit card transactions. A thief can use your receipt to get

your name and debit card number to order products by mail or over the telephone. Your card doesn’t have to be missing in order for it to be used.

5. If you have a PIN number, memorize it. Do not keep your PIN number with your card or in your purse or wallet. Also, don’t choose a PIN number that a can be easily guessed such as your phone number or birthday.

6. Keep all of your receipts in one place so they can be easily retrieved later to verify against your monthly bank statement.

Be cautious when using a debit card because some banks process debit charges although insufficient funds are in the account which converts the debit transaction to a credit transaction. This is because there are no laws requiring prior approval to process the transaction. A consumer will be charged $30 for every transaction that occurs when the account is overdrawn. So think twice before using a debit card or credit card. I have used both debit and credit cards but I am old fashioned though and I pay for everything with cash. Happy spending!

Harrine Freeman is the CEO of H.E. Freeman Enterprises, a credit repair and money management company. She is a member of the American Association of Daily Money Managers and a member of the National Association of Women Writers. She is a credit repair expert and the author of, How to Get Out of Debt: Get an “A” Credit Rating for Free Using the System I’ve Used Successfully with Thousands of Clients.

For more information on how to buy my book or get out of debt visit http://www.hefreemanenterprises.com She can be reached by email at hfreeman@hefreemanenterprises.com

Article Source:

http://EzineArticles.com/?expert=Harrine_Freeman

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Articles on Business And Finance – (page 233 of 1383)

admin — Wed, 01 Sep 2010 00:19:00 +0000

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Instant Decision Credit Cards: Get Credit Card Within Few Days

admin — Mon, 30 Aug 2010 00:19:34 +0000

Instant Decision Credit Cards: Get Credit Card Within Few Days

Instant decision credit cards are an instant help that enables you to fix your problems. In your urgent and instant requirements these cards provide timely assistance to you without any delay. We are always in hurry and don’t posses enough time to waste in lengthy formalities. Thus to cater such needs and provide instant solution instant decision credit cards are now available in market.

Now you must have been wondering how they can give you instant decision. The issuing bank or building society will often takes help of companies like Experian or Equifax enable them to check your credit status instantly so that you can determine that you can open the account or not. Once this credit check formality is done then the issuing company will be able to give their decision about your application approval or rejection within seconds.

Most importantly to get easily approved for an instant decision credit card it is important for you to be over 18 years, having a good or fair credit rating with a current bank account and earning a regular salary. If you successfully meet the eligibility requirements then you can easily qualify for these credit cards. But you must know the APR charged on your credit card and whether there is any annual fee that is being charged.

Although an instant decision on a credit card application is appreciated, it is still necessary to compare credit cards by looking at the different features they offer. You can draw a contrast by comparing various features such as: 0% balance transfer rates, 0% purchase rates, low interest rates, rewards, cash back deals that are available or not before applying for a card.

You can search for instant decision credit cards online. The online is the best way to get the required information regarding credit cards. You can easily get detailed information and compare various features. By exploring carefully you can crack a competitive rate deal easily for yourself.

By: rockroger1@gmail.com

Article Directory: http://www.articledashboard.com< 1000
/p>

Rock Roger is a debt consolidator and advisor and has been dealing with various finance programs. If you want to know more about instant decision credit cards, online credit card debts, bad credit credit card uk, credit card debt reduction you can visit www.creditcardbadcredit.org.uk/

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Fair credit reporting act for a job at express and victoria's secret?

admin — Sat, 28 Aug 2010 08:29:09 +0000

Fair credit reporting act for a job at express and victoria's secret?

i recieved a disclosure paper with my application and i was wondering if i absolutely have to sign it. i don't have any credit right now so do i have to turn it in with my application?

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Credit Cards – The Power Child And Or The Problem Child?

admin — Thu, 26 Aug 2010 00:20:04 +0000

Credit Cards – The Power Child And Or The Problem Child?

Credit Cards, which come with many advantages, can also be a matter of great inconveniences for you whenever Credit Cards are misused. Just like almost every other thing in this world, Credit Cards also have two way effects as per their usage. So before you are going to a card company and asking them to present you a Credit card, just think once again that whether you are in real need of a Credit Card or not. If you think that you are in need of a Credit Card and you can afford the balance for each month, then only you should go to your preferred card company for your Credit Card. But be sure that your preferred card company provides you minimal annual fees and percentage rates, with a grace period of time before posting finance charges.

Don’t just try to lead your way in the unknown path since Credit Cards are not meant for experiments. If you can afford the budget you are going for then only you are liable for the advantages of the Credit Cards. Otherwise running into debts is a matter of daily news in your coffee cup for unmanaged Credit cardholders. So the most effective way to keep yourself away from those troubles is in your own hands. Don’t just guess and play with your luck when it comes to Credit Cards.

Here comes your quick note on the Pros and Cons of Credit Cards

Pros

1. Emergency Services: Credit Cards are very helpful to undertake emergency services to have cash advances, car loans, house loans, study loans etc.

2. Ease of use: You now neither need to carry hard cash or checks in your pockets, nor you need to withdraw money from banks to pay your bills.

3. Budgeting: Helps you make a budget for your expenses and stick to your budget.

4. Only Monthly Payment: You just need to pay the minimal monthly payments to meet your card’s agreement.

5. Establish fair credit rating: Maintain a good rating with your creditor that helps you in getting future loans and creates a good impression for you.

6. Option to hold unwilling payments: If you are not satisfied with any services or products, you can hold or stop payments to the provider and any further transactions.

7. Purchase Points: Whenever you use a Credit
1000
Card for any transaction, you earn purchase points that you can redeem to have free offers.

8. Airfare Mileage: Credit Cards credit a percentage of your purchases to affiliated airlines that you can avail later, which becomes a significant amount when your transactions are high.

9. Reconsidering ratings: If you ran in poor financial conditions, you can regain your ratings after the mishap also which puts you back into reputation.

10. Convenient e-commerce payments: Your most helpful partner for online transactions and worldwide purchase.

Cons

1. Unmanaged payments and deadlines: It becomes a sword on your neck when you become irresponsible and unaccountable to your payments and lose deadlines.

2. Underlying charges misinterpreted: You have be careful about not so obvious charges and charges that come up with interests and added values.

3. Payments failure on time: Whenever you fail your deadlines you are extra charged and added interest rates for that. So try to be punctual and responsible.

As obvious, you have both pros and cons of bearing a Credit Card, which suggests you to think again before you are going to have one. But more important thing to have a Credit Card is to know the proper usage guidelines through which you get out of being trapped. As with every other thing, easy and convenient usage is more open to being harmfully affected. Be careful to avail deceptive extra advantages like usage convenience, extra validity and grace periods, special discounts and offers, as they are not as cheap as they look like.

By: Geoff Rainer

Article Directory: http://www.articledashboard.com

Geoff manages an Australian credit cards site, Credit Card Finder.
For our best MasterCard offer, visit the St George Vertigo card offer.

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It’s Not Me! Preventing and Dealing With Identity Theft by Joseph Kenny

admin — Tue, 24 Aug 2010 00:11:52 +0000

It’s one of the fastest growing crimes in the country, and most victims are unaware they’ve become a target until long after the crime is committed. We’re talking about identity theft. In today’s world, information travels faster than ever, and that includes your personal information. If it falls into the wrong hands, your personal info could be used to acquire credit cards, loans, or to open accounts.

Unknown to you, somewhere, someone could be using your good name for their own criminal purposes, and you’ll be the one held accountable. In 2004, 3.6 million American households had at least one person who was a victim of identity theft. Don’t let it happen to you.

Prevention is key

The best way to fight identity theft is to prevent it from happening in the first place. Since you could be a victim right now and not know it for months, it’s important to check your credit report. Under an amendment to the federal Fair Credit Reporting Act, you have a right to a free copy of your comprehensive credit report once every 12 months. Take advantage. Visit annualcreditreport.com to get started.

Once you have your credit report in hand, check it carefully for any irregularities. It’s also a good idea to put a fraud alert on all of your credit reports. The three major credit bureaus—Equifax (800-525-6285), TransUnion (800-680-7289) and Experian (888-397-3742) will all put a free alert on your reports that will tell companies to call and inform you when someone tries to open an account in your name or tinker with an existing one. The alert lasts 90 days, so give yourself a reminder to call and update it every three months.

Next, think about the passwords you use to access your credit card information, bank accounts, and other finances. Is it something like the last four digits of your Social Security Number or your mother’s maiden name? If so, change it. Identity thieves are a crafty bunch, and they’ll easily crack a simple password. Think about something that you can remember that includes a variety of uppercase and lowercase letters combined with numerals. If an institution asks for your SSN or mother’s maiden name, insist on another identifier.

Also, secure your personal information at home, at work, and while you travel. Don’t leave your wallet or any important receipts lying around the house or the office. Someone can easily pick it up, write down a few numbers, and set it back down without you ever being the wiser.

One man’s trash is another man’s treasure

Truer words were never spoken when it comes to identity theft. Thieves will do whatever it takes to get your personal info, including digging through your trash to get the numbers they need. Buy a shredder, and use it. Credit applications, receipts, bank statements, insurance forms, and any other document containing personal identification that you are tossing should always be shredded first. And about those unsolicited credit applications that clog up your mailbox every day—you can put a stop to them. Call 1-888-5-OPTOUT to stop receiving these offers.

Speaking of mail, hopefully you get yours out of a locked mailbox. If not, ask your postal worker about getting one. Never deposit your outgoing mail in an unsecured mailbox. Drop it in a collection box or run it by the post office if need be.

About The Author

Joe Kenny writes for the Card Guide, a UK based credit card site, visit today for a balance transfer credit cards and clear your credit card debt today.

Visit today: http://www.cardguide.co.uk/

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Identity Theft – When It Happens To You by Liz Roberts

admin — Sat, 21 Aug 2010 23:46:13 +0000

So, you’ve just realized that someone has stolen your identity and is racking up debt left and right, and you want to put a stop to it, but you don’t know what to do. Well, keep reading, because in this article you will learn exactly what to do when you are a victim of identity theft. Once you have absorbed this information, act quickly, because the sooner you start fighting for your identity, the sooner you will win.

You will probably receive a phone call from a creditor stating “you” just either made a large purchase and they suspect fraud or you open your credit card bill as you do every month and be amazed at some extra charges that are on there. Call your credit card company immediately. Rarely, will you be liable for charges over $50, and many credit card companies wave the first $50 in the case of fraud. Check with your bank, you will usually be given a choice to close your account and reopen a new one or some banks will put a “watch” on your account and you will have to log into your account and manually approve every charge and check before it is cleared. This usually goes on for a period of 30-60 days. The latter isn’t the best choice as it is labor intensive to do and your account isn’t protected from fraud as it would be if you simply closed it out and reopened a new account.

After you have done all the initial damage control. The next thing to do when you realize that you are a victim of identity theft is to notify the credit bureaus. Report the situation to the three major credit reporting companies- Equifax, Experian, and TransUnion. You can do it online or in writing, and you must tell these companies that your identifying information has been stolen and is being used by another person fraudulently in your name. Ask them to flag your file with a fraud alert, and ask that all creditors call you before extending credit in your name. A consumer statement will be put on your file and it will alleviate your fears of bogus accounts being opened for about 3 months.

Due to provisions of the Fair Credit Reporting Act, you can only place an initial fraud alert for 90 days. The credit bureaus will then send you a notice displaying your rights as an identity theft victim. As soon you receive this, write to each of the three credit bureaus to request two things; An extension of the fraud alert to seven years, and a free copy of your credit report. Remember to include an identity theft report when you send your letter in order to authorize the seven year alert. Whenever you communicate with the credit companies, you should refer to the number given to your credit report and always use verified return receipt mail. Also, make sure you save all credit reports and related information for your records.

As soon as you get your three credit reports, carefully examine each one. Report all fraudulent and inaccurate information in writing to the credit bureaus, as well as to the credit issuers, following the instructions that are provided with the credit reports. As soon as you notify the credit bureaus about the fraudulent information, the bureau is required to strike that information from future reports. The bureau will also notify the credit grantor of the fraudulent account(s). If it isn’t included in the report, ask the credit bureaus for the contact information of the credit grantors.

Also, tell the credit bureaus in writing that you want them to remove all inquiries that have been created due to fraudulent access. You should also ask the bureaus to contact anyone who has received your credit report in the last six months so they can be informed about the fraudulent and inaccurate information. Numerous inquiries can lower your credit score, so work diligently on getting those inquiries removed from your personal credit report.

Though these measures should set you back on track and protect your credit from the fraudulent information, they may not completely stop it from happening again. Because of this, be sure to monitor your credit reports, there are many online services that will help you monitor your credit report. We recommend Experian Triple Advantage. Along with getting your credit report online with credit score, you also get 30 days free credit monitoring service. With this service you can start the dispute process online! Often times, once you have started the process you will be able to obtain a second free report from the credit bureaus, and in many states you will be able to access your credit report more frequently. If you notice that the fraudulent information is still happening, notify the proper bureaus instantly. If the problem persists for very long, you may want to consider freezing your accounts for awhile if possible to prevent any more damage.

Identity theft is an unfortunate event when it occurs, but you can fight back and get your life back quickly!

About The Author

Liz Roberts is a loan consultant with New Horizon Finance, specializing in bad credit,& has been providing consumers & business owners with financing since 1989.Join Experian Triple Advantage http://www.newhorizon.org/Info/experian.htm & get a free credit report & credit score. Bad Credit? Apply for bad credit credit cards, http://www.newhorizon.org/Info/unsecured.htm

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Latest credit cards for fair credit news – DownsizeDC.org

admin — Fri, 20 Aug 2010 00:21:20 +0000

How about these right… I think you’ll find the following nuggets of wisdom particularly insightful. Leave your comments below. Check out the second one in particular…

DownsizeDC.org

Credit CARD Technical Corrections Act of 2009: H.R. 3606, to amend the Truth in Lending Act to make a technical correction to an amendment made by the Credit CARD Act of 2009; 4 pages … Amending the Fair Credit Reporting Act to provide for an exclusion from Red Flag Guidelines for certain businesses: H.R. 3763, to amend the Fair Credit Reporting Act to provide for an exclusion from Red Flag Guidelines for certain businesses, by a 2/3 yea-and-nay vote of 400 yeas with …

Credit Counseling Requirement Question – Loan Modification Forum …

Worse it seems many credit card companies including Chase are immediatly filing lawsuits for the balances after chargeoff. You have less options and can wind up with garnished bank accounts and liens on home, which can screw up modification . … All filed immediately after the 180 day charge off period plus 30 days fair credit act notification if collection agency which I reply to trying to delay. But doesn't seem to help much. davephx is offline …

Guide to Credit Repair Companies: Safe Practices in How to Fix Bad …

Records of IVAs (Individual Voluntary Arrangements) and/or CCJs (County Court Judgements); Bankruptcies; Numerous credit searches; High number of store cards and/or credit accounts taken out; Default on payments … Furthermore, the company may not be regitered with the Office of Fair Trading which could leave them free to practice without regulation. Unfair practices of credit repair companies must always be reported to the Financial Ombudsman Service or a regulatory …

Hope you enjoy the read as much as I did and please if you have something to say, use the comments form below to let everyone know your thoughts.

Have a great day!

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Why Americans Find Predatory Lending Offensive – free article courtesy of ArticleCity.com

admin — Tue, 17 Aug 2010 23:36:07 +0000

Why Americans Find Predatory Lending Offensive
by: Timothy Blake

“Menis – the author translates as “indignant rage” – It is the kind of rage arising from social betrayal that impairs a person’s dignity through violation of “what’s right.” (p21), Achilles In Viet Nam – Combat Trauma and the Undoing of Character, Jonathan Shay, M.D., Ph D.

“The vulnerable relationship between child and parent is a metaphor for the relationship between a soldier and his army. It is also more than a metaphor when we consider the formation and maintenance of good character. The parents betrayal themis – (the ability to feel good about oneself , self esteem, self image) – through incest, abuse, or neglect puts the child in mortal danger. Despite intellectual limitations, the small child usually grasps the danger, although the child’s mental representation of the danger differs from adults. The child’s inner sense of safety in the world emerges from the trustworthiness, reliability, and simple competence of the family.

“Similarly, the child’s acquisition of self-control, self esteem, and consideration of others depends upon the family. Absent inherited mental disorders, good parenting will produce good character and all the other adult resources of dignity and maturity, including ideals, respect for others, self respect, ambitions, self-care, pro-social rather than anti-social activity, reliable capacity to distinguish reality from fantasy, and so forth.

“Lurking behind these supposedly settled truths is the platonic assertion that good character is a firm wall between a good person and evil acts, regardless of the betrayals of “what’s right” and other blows, such as bereavement that may simply happen to an adult. Often there is the invisible unstated assumption that those that hold power in society exhibit loyalty and care in fulfillment of themis. (p 32)

“If military practice tells soldiers that their emotions of love and grief – which are inseparable from their humanity – do not matter, then the civilian society that has sent them to fight on their behalf should not be shocked by their “inhumanity” when they return to civilian life. (p 67)

“Viet Nam narratives reveal that the events that drive soldiers berserk are betrayal, insult, or humiliation by a leader; death of a friend-in-arms; being wounded; being overrun, surrounded, or trapped; seeing dead comrades who have been mutilated by the enemy; and unexpected deliverance from certain death.” (p 80)

Even in families without children the parents are leaders. Parents make financial decisions that impact the future of their children, their stature in the community, self worth, and dignity. There is nothing dignified about the effects of predatory financing. Yet there is an initial assumption that those who impact the credit scores of Americans are exhibiting loyalty and care in fulfillment of their chosen occupation. Americans believe our laws and regulations such as Regulation “Z” protect their rights. There is a strong belief that the system will work.

The economic downturn of 2000 through 2002 is firmly grounded in consumer spending and consumer debt. The real estate boom infused more disposable income into the economy. Exportation of manufacturing and services sector jobs to foreign countries, plus the huge trade deficit add to our woes. In early 2003 the federal budget deficit and the threat of war add to troubled economic times. Bankruptcies achieved record high levels. However, as with history and military battles, we must learn from the past to see the future and prevent future mistakes.

William F. Aldinger started his career with CitiGroup, learning quickly that sub-prime financing in the CitiFinancial subsidiary was a lucrative business. After leaving Citi, Aldinger went to Wells Fargo, and then to Household International as CEO. All three companies are now classified as predatory financing companies, and all three have been forced to settle with the states, government, and consumers. Household restated earnings for the entire time that Aldinger was with the company. HSBC has a four year agreement with Aldinger to continue as Chairman and CEO of Household under HSBC, and then he will become chairman and CEO of HSBC North America, Inc and director of HSBC Holdings. The past tells us the future. HSBC contends that there will be no changes to their business model. Therefore it is safe to predict that HSBC will become the largest global predatory lender ever witnessed by a civilized orderly society.

Those that managed to delude themselves into thinking they are financiers providing a service to society, while masquerading as predators, argue that they are servicing a sector of society that would otherwise not receive adequate attention. Countering that argument, the Community Reinvestment Act perhaps should be revisited and strengthened. Perhaps federal and state governments should remove predatory abilities from the private sector while providing structure and funding. Americans should not be abused by a system that is failing.

Historically, if we use the actions of predators to show us what areas need reform we can reverse the economic downturn we see today. Just like gangs, organized crime, and similar activities, the government should look for the cause of the problem while instituting prevention and removal of the opportunity for predators.

Credit cards are responsible for a huge portion of American debt. Easy credit and the need for credit is expected in today’s society. Again predators have an opportunity. Household International provides financing for, and ongoing compensation to merchants under their existing contracts. Again, there is an initial assumption that those who impact the credit scores of Americans are exhibiting loyalty and care in fulfillment of their duties, that they will follow Fair Credit Reporting and Fair Credit Billing, etc. With over twenty million transactions a day, and over sixty participating merchants, Household International impacts the lives and family values of many taxpaying Americans every day.

Consumer watchdog organization Household Watch receives consumer complaints daily. Based on their web site log statistics Household Watch only receives complaints from 5% of those who visit. Many others get the information they need from their web site data. Over 400 people per day use the Household Watch web site to find links which enable them to pay their bill online. The Federal Trade Commission, therefore, recognizes Household Watch and sister site BestBuyCard as a source of consumer help. Where predators see an opportunity the government should step in to stop them. When the government does not step in, consumer organizations step in to fill the gap. We sincerely hope, therefore, that the consumer organizations will be heard a loudly as the predators and the government when decisions are made. They speak for the public, with emphasis on the public that experiences violations of regulation “Z” and other areas where they expected special trust and confidence.

About The Author

Timothy Blake has a Bachelor’s Degree in Business with a specialty in Management of Technology. He is an investigator for Consumer Advocacy organization Household Watch at www.householdwatch.com

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