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Posted on Sunday, 27th March 2011 by Timothy Bell

Good credit is a result of borrowing money and responsibly paying it back over time. One problem for new borrowers, college students, recent graduates and others with limited history is the difficulty in establishing credit when lenders frown upon people without any credit history – a vicious cycle of rejections. If you’ve never been approved for a credit card, mortgage or personal loan, a co-signer would be required for almost any type of request. But now, Experian® includes rental unit data into their company’s traditional consumer credit reports. They are the first

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Tags: Credit, Credit Reports
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Posted on Friday, 25th March 2011 by Rebecca Ortiz

Credit Unions are Still a Great Bargain in the Anti-Bank Era

Banks have a long way to go before they will restore consumer confidence and high customer satisfaction ratings. But traditional credit unions are still getting stellar reviews because they are affordable, customer-oriented, and offer a healthy variety of financial products including mortgages, credit cards, checking accounts, and auto loans.

Get a car loan with an interest rate of as little as 3.75 percent, for example, if you are a member of the Pacific Postal Credit Union.

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Tags: Credit Unions, Era, Great Bargain
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Posted on Thursday, 24th March 2011 by Rebecca Ortiz

Sooner or later every credit card charges interest, regardless of the promotional benefits offered during the introductory period. However, if the card balances are repaid in full before the end of the grace period, then it is possible to avoid interest altogether. Nonetheless, the majority of cardholders only repay a percentage of their outstanding balance, and some even choose to pay the minimum amount due, which can actually have a negative effect on their credit score.

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Tags: Card, Credit Card
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Posted on Wednesday, 23rd March 2011 by Heather Powell

*Welcome to our weekly credit lessons to brush up on your credit know-how!*

While scrolling through the Credit Karma blog, I stumbled upon a credit score quiz. I’m happy to say that I only missed three out of ten questions, but I also realized that I, along with many other consumers, am still a credit newbie. So I’m going to start by brushing up on the basics.

Anatomy of a Credit Score

Your credit score is a three-digit number that has an effect on many areas of your financial life. It’s used by lenders to determine your creditworthiness, or the likelihood that you’ll pay your debts in a timely manner. Wheneve

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Tags: Credit Score, Score
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Posted on Wednesday, 23rd March 2011 by Sarah Sullivan

Every credit card comes with a credit limit. As long as you don’t go over your limit, there won’t be any penalties not from your credit card issuer anyway. Many credit card consumers don’t realize how bad it is to max out their credit card(s). If you have multiple cards, try to keep the balances evenly distributed amongst them, so you never run into this situation. Here are 3 reasons why you should never max out your credit card.

Hurts Your Credit Score One-third of your credit score depends on the “credit utilization ratio”, which is the amount you owe versus the credit line available to you. For examp

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Tags: Card, Credit Card
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Posted on Tuesday, 22nd March 2011 by Timothy Bell

Banks Announce Fee Waivers for Credit Card Donations to Japan Disaster Assistance

VISA and MasterCard, along with many major banks such as J. P. Morgan Chase, Wells Fargo, and Bank of America, have announced not only their own monetary contributions to Japan’s disaster relief, but also have decided to waive the interchange fees on donations to major charities assisting in the relief efforts.

Waiving the interchange fees will make a significant difference in the total amount of monies received by the charities as interchange fees are the largest percentage of the fees collected by credit card companies.

Some of the banks and credit card issuing companies have placed a time-limit on fee waivers. V

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Tags: Assistance, Disaster Assistance, Japan Disaster, Japan Disaster Assistance
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Posted on Sunday, 20th March 2011 by Rebecca Ortiz

Thieves Steal New Credit Card Enabled Parking Meters

Municipalities across the USA are switching over from old fashioned coin operated parking meters to new high-tech digital meters that accept coins or credit cards, and the trend has not gone unnoticed by thieves. They recently yanked about 20 of the new meters right out of the sidewalk in Chicago, leaving many people who had used their cards in the meters worried about the security of their credit card information.

A spokesman for the contractor who manages the meters for the city tried to assure everyone that their financial data was safe, saying that the card account information was stored and transmitted securely – and is not retained inside the parking meters.

The police department of Chicago was rather surprised that the thieves would work so hard to steal the meters because each of them weighs about 200 pounds. N

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Tags: Enabled Parking, Enabled Parking Meters, Meters, Parking Meters
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