Use Your Credit Card Wisely

As credit card delinquency rates continue to fall from the 26% level last year, it is inevitable that credit card companies will soon put their marketing skills into overdrive. New credit card offers are beginning to flow in from various companies to customers who have maintained a good credit record post-recession. In fact, the 0% card offer is also making a comeback now.

None of these signs mean that you can afford to relax your firm control over spending using this piece of plastic. In this climate of over enthusiastic advertising and tall claims from credit card companies, it is important to be doubly careful of how you are managing your credit card.
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How to Get Rid of Your Credit Card Debt and Put Money Back in Your Pocket

If you have maxed out on your credit card and are reeling under a sizeable debt, the last thing you want to do is to panic. By planning carefully and through some smart investing, you can get rid of your debt quickly. [Read more…]

How Filing for Foreclosure Will Affect Your Credit Rating

Foreclosing on your home can be an emotionally difficult experience. What makes it worse is that the foreclosure will also damage your credit rating. The event will influence future lenders strongly and can have a long lasting effect on your finances. [Read more…]

Is Inflation Your Friend or Enemy?

Most people consider inflation as a big problem and high inflation does have a bad impact on the overall economy. However, there are some financial benefits that you get either indirectly or directly because of inflation. Knowing the positive and negative effects of inflation can help you in adopting an investment strategy that will give you good returns irrespective of inflation. [Read more…]

New Method of Calculating FICO Credit Scores

FICO, the company formerly known as Fair Isaac, developed the famous FICO credit score, which is used by lenders across the country to assess the creditworthiness of borrowers. The company has recently released a new method for calculating credit scores, called FICO 08. [Read more…]

Manage Your Credit Cards Better and Avoid Unnecessary Debt

As a result of the recent recession, credit card delinquency rates in the United States are at an all time high. d.

So how do you go about getting a grip on your finances to ensure that you overcome these difficult times without accruing a lot of debt on your credit cards? [Read more…]

What Affects Your Credit Score Negatively

The after effects of the mortgage loan crisis are going to be felt for years to come. Already loan and mortgage lenders are tightening the criteria of lending and you may feel the change when you are out shopping for a loan.

The FICO credit score is the most widely used primary factor to assess you risk as borrower. The score ranges from 300 – 850. The higher the score, the better the interest rates and terms offered to you on credit lines and loans. A score of 700 and above has so far been considered a healthy number, but this is now changing with the lenders becoming more risk averse. The lenders have now upped their criteria for eligibility and better borrowing rates by almost 20 – 40 points. [Read more…]

Number of Failed Banks Reaches 37 for 2010

Regulators have shut down seven more banks as the effect of bad loans on the financial industry continues. This has taken the total number of collapsed banks to 37 this year. [Read more…]

Common Misconceptions about Credit Scores

A number of misconceptions float around about credit scores; most of them are actually propagated by totally profit centered debt settlement companies. It is important to be aware of what is true and what is not, to avoid getting fooled by manipulative people. Here are some of the popular misconceptions about credit scores. [Read more…]

Falling Credit Card Debt Numbers Could Be Because of Charge Offs

It has been reported recently that credit card debt is falling, which we are told is a clear sign that the financial situation of consumers is improving. These reports emerge from the data released by the Fed, showing that revolving credit on the books of financial companies is falling. But these figures could be misleading. [Read more…]

Credit Card Charge Offs and Delinquencies Show Positive Trend

Data released by five leading credit card companies in the US has shown a positive trend in delinquency and charge off rates. The rates were found to be either lower than before or stayed at the same level, highlighting the improved financial situation of customers when compared to the last two years. [Read more…]

Credit Card Companies Improve Their Rewards Programs

Credit cardholders will agree that shopping is beginning to pinch with firms charging higher interest rates and fees. However, if you are a frequent spender and a loyal customer of the company, you can benefit from the many reward programs to offset these costs. [Read more…]

The Basics of Debt and How to Identify a Bad from Good Debt

Every person takes debt in his life whenever he acquires an asset or takes the benefit of a service without immediately paying for it in return. When viewed in this perspective, it becomes apparent that debts cannot be avoided completely. However, understanding debt can go a long way in ensuring that you take up more of good debts than bad. [Read more…]

Moody’s Says US Credit Rating Under Threat

Credit ratings agency Moody’s has warned that the Aaa credit rating of top developed nations like the U.S., Germany, U.K., and Spain could be under threat as their deficits go out of control.

Moody’s has published a new report on the creditworthiness of these countries and has come out with a gloomy picture. Although it said that currently the ratings are stable and there is no immediate risk of downgrades, it warned that countries like the United States are much closer to downgrades now than they were before the financial crisis. [Read more…]

How to Improve Your Credit Score

The recent turmoil in the economy has made credit card companies much more selective about who they give a card to. Only those who have good credit record are able to get a credit card with lucrative terms. [Read more…]

How Long Does Negative Information Remain on Your Credit Report?

This question haunts the mind of every person who had to go through a rough credit phase and is now stuck with a blemish on his or her credit report. Negative information or history of your bad credit, affects your credit score adversely. This could mean more expensive insurance premiums, higher interest rates on credit cards, loans and mortgages and in extreme cases even decline of credit line. [Read more…]

We Offer Bad Credit Lending Up To $1500

Everyday, a lot of banks and other credit-lending institutions process a number of loan requests. Whether it’s for an auto loan, housing loan, or a loan in some other form, a great deal of their resources is being spent before such applications are to be approved. [Read more…]

View The Latest Credit Card Profitability Margins

Credit card business is a huge profitable venture for credit card companies and banks. In bigger and consumer-based economies around the world, credit cards have become very popular. People keep demanding them from banks and financial institutions for convenience as well as for a host of other benefits offered by them. Although banks and financial institutions implement some cautions in rendering credit cards to customers, there are still being distributed to a vast number of people every year. [Read more…]

Should You Be Using Credit Cards To Pay Off Debt

Credit cards were first introduced in the United States by hotels and oil companies. This happened during the 1920s, when the hotels and oil companies wanted their customers to make purchases of the products through the cards they offered and can make the repayments later. The card at that time was mostly a form of identifying the customers who are regular in using the services of the hotel or the oil [Read more…]

Review Grace Periods That Credit Cards Offer

Credit card holders are familiar with grace periods offered to them for making repayments for the purchases they have made using credit cards. Grace period is one of the biggest advantages for the credit card holder in making purchases of services or products from authorized dealers or merchant outlets. Of course, credit card holders also find credit card deals quite beneficial from the consumer point of view. [Read more…]

Check Out The Hottest Cash Back Offers On Credit Cards

Credit card holders find credit card deals from time to time from credit card companies, motivating them to make purchases of certain products and services. They find credit card deals on such purchases beneficial because there is some discount or rebate associated with them. They also find credit card deals in cash back offers. Customers can compare credit cards for getting the best cash back offers. [Read more…]

Does The Increasing Availability Of Credit Cards Mean Better APR

In earlier times, credit cards were available to only few high-end customers, who had high level of income and demonstrated considerable financial confidence based upon their transactions and bank accounts. When credit cards were used earlier, they were confined to dedicated customers of certain services of some companies. A large mass of people had no idea what credit cards were and how they were to be used. But in the past two or three decades, a sudden change has been observed amongst the credit card users. [Read more…]

Bad Credit Loan vs Good Credit

Financial savvy persons have no difficulty differentiating a bad credit loans or debt to good credit or debt. The clear distinction between the two helps individuals and companies to make wise financial decisions. It is not a clear-cut distinction that one is bad and the other one is good. It takes much more than that to distinguish the one from the other. [Read more…]

Learn What To Do In Bad Credit Situation

It’s a difficult situation when credit standing gets out of control. You have to think of ways on how to get out of this situation before it gets worse or you’re in for a really big trouble. The problem with bad credit is that it gets worse as days pass by. It is a good idea to settle the problem immediately because waiting for better days will not help. [Read more…]