Saturday November 28, 2009
If you're over 18, or under 18 and using credit, you should check your credit report at least once a year. Since you're able to get one free copy of your credit report from each of the credit bureaus each year, there's no reason you shouldn't check your report annually.
Other than annual financial maintenance, there are some other key times you should check your credit report, like before you apply for a mortgage. Checking your credit report at these crucial times can help save you from the embarrassment of being turned down for credit.
More on Credit Reports
Friday November 27, 2009
They're here! The biggest shopping days of the season have finally come. Retailers aren't the only ones looking forward to all the credit cards coming out during this time of year. Credit card thieves are also on the prowl, waiting for the opportunity to swipe your credit cards or just your credit card information.
This time of year, it's especially important to practice safe credit card habits to prevent credit card theft and credit card fraud. Here are some articles to help you:
This Week's Credit & Debt News:
More credit card education from the Federal government. The Feds will display credit card tips during movie previews in 12 theaters across the country. Associated Press
Congress won't help you out with your credit cards this holiday season. Attempts to move up the new credit card rules to December 1 and to freeze credit card interest rates have not moved forward. CNN Money
You may not be able to use the "no cash" excuse for the Salvation Army bell ringers this holiday season. About 200 Salvation Army locations all over the nation will be accepting credit cards this year. -USA Today
Thursday November 26, 2009
Your creditor knows you have a lot of financial obligations, so it gives you the luxury of making minimum payments, an amount that's only between 1-3% of your balance and is sometimes less than your finance charge. Isn't it nice of them to give you that courtesy?
Have you ever heard of a creditor doing something nice for its customers? Of course not! The courtesy you think is allowing you to have more room in your budget is actually costing you. Minimum payments take a little money over a long period of time so you may never realize just how much money you're unnecessarily spending unless you look at the big picture.
Are you brave enough to see how much your minimum payments are costing you?
Related Minimum Payment Articles:
Friday November 20, 2009
American Express cobranded hotel or airline credit card will be charged a fee to reinstate rewards lost because of a late payment. American Express recently announced that late payments would cause cardholders to lose any rewards accumulated during that month.
If you want to get your rewards back, you'll have to pay a $29 reinstatement fee, according to ABC News. Of course, you'll still have to pay a late payment fee of up to $38. Your interest rate could increase too, because of the late payment. Starting February 22, 2010, you can only be charged the penalty rate when you're more than 60 days late on your credit card payment.
Weekly Credit and Debt News Roundup:
- Salvation Army bell ringers in North Carolina will be accepted credit card donations. I suspect that bell ringers all over the nation will be taking credit cards. MyFox8.com Read more...
