| |
| |
|
Credit Information |
|
|
|
Credit Card Companies Are Out for Your Money
You're probably thinking "Tell me something I don't know" but in this time of low interest rates you might be thinking that you've got a great deal since credit card interest rates are low. Wrong. Credit card companies have a cutoff as to how low their interest rates will go. So when interest rates are low for lending, that doesn't mean your credit card rate will be low as well. If you don't know, or aren't sure, if your credit card company has a minimum interest rate just look at the fine print on your next credit card bill. If you can't read that small of print, and most of us can't, give the customer service a call. If your credit card company does have a minimum interest rate then I'd plan to look around and go with the credit card companies that don't. Because when the interst rates drop, you should get a break on your credit card rate. The fixed rate on credit cards actually rose in the last twelve months. Why? Because the credit card companies have been actually losing money due to record numbers of delinquencies and bankruptcies. Those who can't pay now for their purchases in the past are sticking their bill to the rest of the credit card holders. So you may think that you want to get that credit card insurance being pushed by credit card companies that will pay your bill if you become disabled or unemployed. Not so fast. The average payout on a credit insurance policy is 30-50%. The National Association of Insurance Commissions actually recommends a payout of at least 60%. Payouts for debt cancellation and debt suspension is in the 1-3% range. That's definitely not worth the premiums. Get enough regular life insurance and disability insurance to cover your debt as their premiums are much cheaper and have greater payouts. Beware of a credit card company trick that I recently ran into. I mailed a payment a week early but yet was still charged a late fee. Impossible I say. I found out the payment had to be in the credit card company's processing center by a certain time on the due date. Think of my credit card payment making it's way through the mail, to a P.O. box, then getting picked up, sorted, sent to the processing center, opened and recorded. And this has to be done by a certain date on the due date. Ouch. I suggest mailing in your payment at least two weeks early. About The Author Christine Breen is the owner of the website www.1stop-creditcards.com which helps consumers learn about credit cards and find a card to work for them.
MORE RESOURCES:
Google News |
|
|
|
RELATED ARTICLES
What is on Your Credit Report? Your credit report is a very important piece of the puzzle in your financial picture. It contains a historical record of your personal and financial information including a listing of your current and past debts and the timeliness of your payments. Understanding Your Rights Under The Equal Credit Opportunity Act It wasn't all that long ago that lenders blatantly discriminated when it came to approving credit for women and minority groups. Women were actually asked personal and demeaning questions like, how many children do you plan to have in the future or are you on birth control?Despite the fact that they were entering the workforce in record numbers, single women were often required to get a cosigner or denied credit altogether. How To Prevent Fraudulent Credit Card Transactions What Are Possible Signs of Fraudulent Transactions see at Web Hosting Companies?Customer wants to pre-pay for a yearDomain Name Registration for 5 years or moreOrders using free email address providers like Hotmail, Yahoo, etc.Usage of multiple cards to complete order. How to Get Credit Reporting Agencies to Help You The process of clearing credit can be laborious and frustrating. Understanding your rights empowers you and saves you time and effort. Credit Repair Scams "Erase Bad Debt !""Remove Negative Items From Your Credit Report"You've probably seen these headlines and others just like it promising to clean up or "fix" bad credit. For someone who suffers from a bad or poor credit rating, these headlines are certainly an appealing offer. How You Can Avoid Becoming A Victim Of Identity Theft To reduce or minimize the risk of becoming a victim of identity theft or fraud, there are some basic steps you can take.The most important one is to ask periodically for a copy of your credit report. SuperCharged Secret 3, Credit Card Utopia TURBO-CHARGED KILLER RATE SAVING INFORMATION!Let's just take a brief moment to recap:If you've been following along on this journey with me, learning the 5 Super-Charged secrets to Credit Card Utopia, then you now know 2 very important things:You now know how to take advantage of zero to low interest credit card offers.You now know that there is safety in numbers, and you know the magic "Who's Who" of the major credit card companies. Free Credit Report - A Website Typo Could Be Costly In 2003, Congress passed the Fair and Accurate Credit Transactions act (FACT), which made it possible for consumers to obtain a copy of their credit report for free. In fact, the legislation makes it possible for consumers to obtain one free report from each of the three main credit bureaus - Experian, Trans Union, and Equifax, per year. Useful Tips On Avoiding Credit and Charge Card Fraud Credit and charge card fraud costs cardholders and issuers hundreds of millions of dollars each year. While theft is the most obvious form of fraud, it can occur in other ways. Searching For A Low Interest Credit Card? These days, people need to very carefully consider what type of credit card they will carry in their wallets. There are so many options out there, and each individual has different needs. Simple Identity Theft Protection How many of you bank, shop, or transact other business online? There are at least 4 million Department pf Defense employees that access their pay records online only. Even offline, stored financial data can be placed at risk in computers that are used on the Internet as well. Fight Credit Card Fraud with Common Sense By now, you have undoubtedly heard of credit card fraud, an alarming and damaging trend that is sweeping the country. Here's the bad news: It is disturbingly easy for thieves to obtain your credit card number--usually from discarded receipts or even directly from you. Credit Cards for Home Business It is wise for you to have a company credit card like a VISA card. How can you find the least expensive bank card for your business? You may decide to use a VISA card from your local bank. Beware the Shopping Mall Monster Like me, you've probably been offered a fair old number of these by now.. Consumer Credit Reports A consumer credit report is a factual record of an individual's credit payment history. It is provided for a purpose permitted by law: to help a credit grantor or lender quickly and objectively decide whether to grant you credit. Big Brother Knows Whats in Your Credit Report - How About You? Whether you are aware of it or not, credit bureaus have been keeping tabs on you and how you use credit. When it's time for you to apply for a mortgage, credit card, or personal loan, your credit report is what lenders look at to decide to approve you or not. Triple AAA in 30 Days Have you ever wonder about how to get good credit with spending alot of money. Well here is a little secret I used to get my credit back up to par. How Creditors Measure Your Credit Rating Creditors will measure your credit rating based on the following three main things.CapacityCollateralCharacterThe three "C's" show creditors your:"Capacity" or income to pay the debt"Collateral" or assets to secure the obligation"Character" shows your compliance to repay the debt1. Student Credit Cards 101 If you're a college student, you probably already have a credit card. If not, you may have plans to get one or more soon. Understanding the Process of Credit Counseling Many of us have seen the advertisements on television. "Get out of debt fast!" "We can solve all your credit problems with only one call!" These sound really great but you know that, realistically, one call is not going to solve your credit problems.
|
| Index | Site map |
| © 2009 VirBooks Home |
| PLAE | Solar System |
