Used wisely, credit allows for the convenient purchase of items both big and small. Used unwisely, credit can, and has, led to home foreclosures and bankruptcy. Learn to use credit and debit cards smartly and improve your credit scores.
It’s Not Just US Ordinary Folks – Lindsay Lohan Owes $600K In CC
Thu Apr 22, 2010 | | Posted in Credit
Media has reported Lindsay Lohan, 23 years old, owes more than $600,000 in credit card debt. I wonder what her problem is. I don’t know how much she is making per movie but she must be making a lot of money. Enough money that she could pay all her debt – her mortgage and credit … Continue Reading »
I Am Waiting To See You So I Can Use You But Not Abuse You
Sat Mar 27, 2010 | | Posted in Credit
Here I am waiting, just waiting, anticipating a chance to see you so I can embrace you, hug you. I sit here not for hours but days and months that you would show up one day and I would tell you all the loving things that I have in my heart. I need you now … Continue Reading »
Protection from bad credit reports has come a long way, baby
Wed Jan 13, 2010 | | Posted in Credit
The report about protection from bad credit reports has finally come out after a long wait of 6 years when the U.S. Congress mandated it in 2003. It is a collaboration between Federal Trade Commission and the Federal Reserve. It will affect mortgage and all other loan applicants and home purchasers. Good news for everyone … Continue Reading »
Is it free or $14.95 monthly service you probably don’t need?
Fri Nov 6, 2009 | | Posted in Credit
The Federal Trade Commission (FTC) is not amused with the company responsible for the popular advertisement in the media promoting freecreditreport.com. It has long believed that the company is deliberately diverting people from a government-mandated site where consumers can get free credit reports by law. FTC says the company is using the reports as a … Continue Reading »
The poor are subsidizing the rich – say what?
Wed Oct 7, 2009 | | Posted in Credit
The poor are subsidizing the rich – say what? Are you crazy? No I am not crazy. Let me explain. A rich dude with 10 credit cards goes into a store and buys stuff using his plastics. The card companies charge the store a certain amount of fees for giving the store the convenience to … Continue Reading »
Will other card issuers follow Amex to end gift card fee?
Fri Oct 2, 2009 | | Posted in Credit
American Express said Wednesday, September 30, it would eliminate monthly fees on its popular gift cards. Will other major card issuers follow? The move certainly puts pressure on them. The company’s decision, which takes effect immediately, goes further than legislation Congress enacted in the spring that would limit, but not eliminate, monthly fees on gift … Continue Reading »
It’s not always possible to prevent credit or charge card fraud
Thu Aug 20, 2009 | | Posted in Credit
It’s not always possible to prevent credit or charge card fraud from happening. But there are a few steps you can take to make it more difficult for a scum to capture your card or card numbers and minimize the possibility. Mind you nothing in this regard is fool-proof. You can only minimize the financial … Continue Reading »
I understand FICO but what the heck is ChexSystems?
Wed Aug 19, 2009 | | Posted in Credit
When you go to your neighborhood bank to open an account, most probably you would be accepted and you would open that account. There are folks who are unfortunately rejected. How does a bank decide whom to accept and whom to reject? Well! the bank asks for the services of the national account verification company … Continue Reading »
Overdraw for $5 worth of fast food on debit card, bank fees $35
Sun Aug 16, 2009 | | Posted in Credit
If you were the bank, you would be happy – 4th of July, bells ringing. But you are the consumer. You don’t check your account, you overdraw and the bank charges you $35 for the $5 worth of food. You are debited $40. Some folks don’t realize this. Imagine if 100,000 people did that in … Continue Reading »
Can the new credit card laws protect us from ourselves?
Mon Jun 1, 2009 | | Posted in Credit
Maybe, maybe not. One thing is for sure. In the Western World and Japan and a few other countries, owning a credit card or two, or perhaps ten for some, is almost a must. It is nearly impossible to avoid it entirely. It has become a swine flue of your finances, a pandemic if you … Continue Reading »
