Banks boost credit card rates

To understand how the collapse of the nation’s real estate market is hitting borrowers of all kinds, consider Carson Moore. Moore, of Elkton, Ky., says he always pays more than the minimum due on his credit cards, and does it on time, every time. But in January, Bank of America told him it was nearly [...]

Free credit report

January is a great time to order a free annual credit report, and not just to live up to a New Year’s resolution.It’s also the time when you are more likely to discover someone has fraudulently used your credit card or identity to enrich themselves. The Identity Theft Resource Center gets more calls about lost [...]

Building credit requires time, track record

I’m a legal U.S. resident trying to build some credit. I recently bought a laptop on credit and applied for a credit card that enables me to earn mileage for every dollar I spend. The problem is that the interest rate for both accounts is too high, so I want to pay off the debts. [...]

It’s so easy to get into debt

Credit is an important instrument for life and creates a “financial resume,” making it essential for consumers to establish their credit history.Amie Darway, program manager for the Consumer Credit Counseling Service of North Central West Virginia, headquartered in Clarksburg, said the first step a person can take to start establishing credit is to set up [...]

Battleing Identity Theft

For the first time, everyone in America can now do something to prevent identity theft.
On Nov. 1, the nation’s three credit bureaus gave all U.S. consumers the ability to shut down access to their credit reports, making it almost impossible for a stranger to get the data needed to commit financial identity theft. The process [...]

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 [...]

Tricky credit cards

Currently, credit card issuers can change virtually any rate or term with just 15 days’ notice to the customer. Consumer advocates have long denounced these practices, but they’re perfectly legal.

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