Credit card disclosures may be improved
Alyce Larson of Yakima thinks credit card issuers shouldn’t be allowed to change the interest rates for whatever reason they choose, even if they include it in the fine print.
Mike Morris of Leavenworth wrote the Federal Reserve Board to require creditors to clearly identify monthly interest fees, the rate and the total interest fees paid [...]
Credit Card Debt Consolidation Counseling
Credit card repayments is a great burden these days as more and more people opt for credit cards for their daily payments, and shopping needs. Timely help and guidance can free the debts and set you free!
People use credit cards almost everywhere for shopping, paying loans, installments or even fuel their vehicles. People mostly ignore [...]
Prepaid credit cards put holder in charge
Why to obtaine a “prepaid” Visa or MasterCard?
When your kids begin college next year, you want them to have a major credit card (Visa, MasterCard, etc.). In particular, you want them to have the conveniences of a credit card. They can charge larger amounts than they would carry around in cash and use it at places that don’t accept checks. Also, with a [...]
Community Card Program
International Card Establishment, Inc. (I.C.E.) (OTCBB: ICRD) today announced that it intends to launch a unique Community Card program in the Thousand Oaks, California area in January 2008. The community card will enable local residents to earn rebates from participating merchants while also benefiting local school districts and charities. Merchants will not have to pay [...]
The true cost of paying the minimum
Is your money being sucked into a compound interest sinkhole? If you’re not paying off your credit cards every month, that’s just what can happen. It depends on the interest rate charged by the credit card company and whether you pay as much as you can, or just the minimum amount due. You can use [...]
Is is possible that a higher limit could hurt your credit score?
It’s possible, but it isn’t likely. The basic idea is that you want to have a good “credit ratio.” That’s the amount of available credit vs. utilized credit. That section of the score is just one section of a larger portion of your FICO called “Amounts Owed.” Amounts Owed = 30% of your FICO.
Is it [...]
Get out of debt sooner
Let’s say you have $10,000 in credit card debt and your current minimum payment is $250. At 18% with a minimum payment of 2.5% it will take you 382 months to be rid of your debt. In that time, you will pay $14,615.49 in interest. Fun.
If you pay a fixed payment of $250 dollars (your [...]