Credit Repair Credit Cards

How to get a better understanding of your credit score

Admin — Sun, 31 Jul 2005 01:31:15 -0700

Mortgage News Daily is a powerful blog with tons of mortgage and credit related information. If you haven't have the chance to check them out yet, you can visit them at http://www.mortgagenewsdaily.com.

An article that we think would be beneficial to our readers is one titled: "Understanding Your Credit Score" in which they help explain more about what a credit score is and how it might affect your credit rating when applying for a mortgage.

Credit scoring is not new, it has been showing up in some form on credit reports for a number of ...

Free Annual Credit Reports Starting Dec. 2004

Admin — Thu, 27 Jan 2005 23:40:08 -0800
Beginning in December 2004, consumers can get a free copy of their credit report annually. Free annual credit reports will be rolled out starting on the West Coast and ending in September 2005 on the East Coast. A centralized source with a toll-free number, web site, and mailing address will be established to order your free report in the near future...

Borrowing on a Credit Card

Admin — Thu, 06 Jan 2005 01:55:26 -0800

Borrowing on a Credit Card by: Alastair Taylor

One of the easiest ways to borrow money of a financial institute is to use a Credit Card, available from all banks, building societies, and other financial organisations. The choices available are enormous, with a wide variety of interest charges, annual charges, loyalty schemes, and bonus points available. However there are two broad areas that you should look at:

Annual Interest Rate

Firstly if you do not intend to pay off your Credit Card bill at the end of each month, then you should look at the Annual Interest Rate (APR), this rate is typically between 13-17% at the moment, and you should be looking for a card that offers as low an interest rate as possible. You should also bear in mind that you are charged much higher rates of interest than other forms of borrowing money, so if you do not intend to pay of your bills for a long period of time, then you should seriously consider a different form of loan that is less expensive.

Extra Benefits

On the other hand if you do intend to pay off you credit card bill at the end of each month, then you should be more interested in the loyalty schemes that are on offer. These vary from being awarded points every time you purchase something (these points can than me used to purchased gifts or air miles etc), to simply being given ‘Cashback’ on everything you buy (typically 0.5%-1% of your purchase). You should also look at the level of service that your card company offers. They are obliged under law to offer certain protection to the consumer, but often they will increase this protection with other guarantees. Some offer extended warranties on electrical goods, extra travel insurance when you are on holiday, accidental damage insurance for any goods you buy, and even free commission on cash withdrawals when abroad.

Also some companies charge an annual fee for using their card (especially business credit card accounts), so these fees should be weighed up against the cards benefits.

Even if you usually do pay off your credit card bills at the end of each month, when you open a account you may be offered 6 months interest free credit. This is often an excellent way of saving money as you are basically given an interest free loan for 6 months. It is even more useful if you are allowed to transfer some credit card debt from a different company into the interest free offer. However there is a danger of becoming trapped in a bad debit cycle here, transferring your debt from card to card until it is completely unmanageable. The best advice is to make sure you always have enough money in the bank, or in a savings account, to pay off your debt when you are taking advantage of the interest free credit period. That way you benefit from earning interest on your savings in your bank, but as soon as the interest free credit period has expired, you can pay the entire bill off without being stung for high interest charges.

So to summarize

If you are not paying off your monthly credit card bills, look for a card that offers a low interest rate

If you are paying off your monthly credit card bills, looking for additional card benefits

Interest free credit periods are good news for saving money, but beware of being caught in a debt spiral

Credit Cards are an expensive way of obtaining a loan or borrowing money, and you should investigate other cheaper forms if you intend to borrow money in the medium to long term.

For more great articles from Alastair Taylor go to http://www.whatprice.co.uk/

Credit and The Internet Internet Credit Card

Admin — Mon, 03 Jan 2005 03:03:39 -0800
Credit and The Internet by: T.B. Collins The internet stands as the largest open marketplace in the world today, almost every possible product or service is being sold on the internet. With such an availability of potential monetary transactions, the preferred method of payment is the credit card. This method allows instant transfer of funds from the consumer to the merchant in a secure environment, and payment can be verified immediately. But this process poses a dilemma for the potential consumer looking to shop on the internet without access to a valid major credit card due to their inability to gain credit based on their past financial history.

Credit Card Shocker

Admin — Sun, 02 Jan 2005 22:42:17 -0800

Credit Card Shocker
by: Rosella Aranda

Have you ever looked at your credit card statement? I’m not talking about just making sure that all the transactions are correct. I’m talking about looking at the finance charges. I daresay that sometimes that figure is almost as great as the minimum monthly payment you’re making. After all, as long as you can keep the creditors at bay by paying the minimum, that’s all you care about, right? If you agreed, I urge you to reconsider.

I’m sure that by now, many of you realize that you lose money by buying on credit. ...

Credit Education

Admin — Mon, 27 Dec 2004 03:52:01 -0800

Credit Education
by: David Hall

Secured Credit Card is similar to a prepaid credit card since the funds you are using are actually yours and not the issuer of the credit card. Generally people who apply for secured credit card or prepaid credit card are people with poor credit or unemployed. Prepaid Credit Card spending limit is the amount of money you loaded to the card. There are no interest or finance charges on a prepaid card. With secured credit card, your credit line could be from 50% to 100% of your deposit depending on the institution giving you the ...

Credit card balance transfers

Admin — Fri, 24 Dec 2004 00:18:42 -0800
Credit card balance transfer involves using a credit card to pay off the amount outstanding on one or more credit/store cards. The total debt then moves to one card. The main benefit of balance transfer is a money-saving one. In the competitive credit card market an increasing number of companies are offering a 0% interest rate for a fixed period on balance transfers made by new customers.

Rebuilding Better Credit Score

Admin — Wed, 22 Dec 2004 03:13:33 -0800

Rebuilding Better Credit
by: T.B. Collins

Today, good credit is the one constant necessity needed to succeed in any endeavor, from starting a new business venture to purchasing a home. Without having established prior good credit and maintaining this status, re-establishing decent credit can be a very difficult task. The need for credit and a good credit history is further enhanced by the internet, considering that a large majority of credit card transactions are conducted on the net, it is almost imperative that consumers have a valid major credit card. Yet in the modern world a vast number of consumers ...

Paying off Credit Card Balance vs. Keeping a Balance on your Credit Cards

Admin — Sun, 19 Dec 2004 13:51:46 -0800

So which is it? Pay off your credit cards every month to show how well you pay your bills, or keep balances on them to develop a greater credit history? Which one will help you build better credit?

Maxine Sweet, ...

Debt Management And Credit Counseling Companies

Admin — Sun, 12 Dec 2004 14:25:43 -0800

Each year over 9 Million American households contact credit counseling or debt management companies according to the Washington, D.C. based Consumer Federation of America. The National Foundation for Credit Counseling, a Silver Spring, Maryland, network of credit counselors,

"say's it's clients who go into a formal credit management plan average a total debt that exceeds $28,000 amounting to 95% of their total annual income."

These companies may be a good idea for many, but they have their pro's and con's. Each individual has different circumstances. If a person is so for in debt that they can't even make the monthy minimum ...

LandAmerica Credit Services Increases Midwest Presence With the Acquisition of Mortgage Credit Services, Inc.

Admin — Thu, 09 Dec 2004 12:57:31 -0800
my Stuff and News International [mysan.de/international] - LandAmerica Credit Services Increases Midwest Presence With the Acquisition of Mortgage Credit Services, Inc.
RICHMOND, Va., Dec. 9 /PRNewswire-FirstCall/ -- LandAmerica Financial Group, Inc. (NYSE:LFG), a leading provider of real estate transaction services, through its subsidiary LandAmerica Credit Services, Inc. (LACR), announces the purchase of Mortgage Credit Services, Inc. (MCS), a credit reporting company based in Indianapolis, Indiana. With this move, LACR, one of the nation's largest mortgage credit reporting companies, establishes a significant presence in the Midwest.

Don L. Miller, CEO, founded MCS over 17 years ago. Since then it has become ...

Credit Workshop By Consumer Credit Counseling Services

Admin — Thu, 09 Dec 2004 02:40:34 -0800
Credit workshop set in Avondale

Wow, I think this is great, The city of Avondale is hosting a "Holiday Survival Skills Workshop" I've never heard of somthing like this, but it's sound like a great idea. If your in the area i would check it out.
For more information click here:

Chase And JPMorgan Information A Good Credit Card Choice

Admin — Tue, 07 Dec 2004 23:28:28 -0800
Chase.com Home Page
The new JPMorgan Chase was created on July 1, 2004 upon completion of the holding company merger between JPMorgan Chase & Co. and Bank One Corporation. The mergers of the broker/dealer, credit card companies, and lead banks will be completed over the next nine months.

The U.S. consumer and commercial banking businesses currently operate under the Chase and Bank One brands. These businesses include retail banking, credit card, home and auto finance, small business, middle market and mid-corporate banking. Once the merger of the Chase and Bank One businesses are complete, the Chase brand will be used ...

Washington Mutual Student Credit Cards and Lines of Credit

Admin — Mon, 06 Dec 2004 20:04:36 -0800

Washington Mutual is a great resource for students looking for Personal Loans, Lines of Credit, Education Loans and much more. You can even do a side-by-side comparison to help you decide which option is best for you when deciding on a Loan or Line of Credit.

Students should check out Washington Mutual's "Tools and Calculators" section to design a home equity loan or line of credit based on your individual needs.

Students out of college are often interested in getting loans and sometimes equity loans are the best way. If your not sure you want a home equity loan or a home equity line of credit be sure to click on "see a more detailed comparison" between home equity loans and home equity lines of credit.

Free Credit Reports Huge Demand From Consumers

Admin — Fri, 03 Dec 2004 22:23:56 -0800

Opening day for the free credit reports wasn't a easy task to handle, for the three credit bureaus.

"We did have extraordinarily heavy overall volume," Experian spokesman Donald Girard said. "We did experience a few glitches in the system, and we worked out the kinks as fast as we could."

www.AnnualCreditReport.com processed tens of thousands of credit reports on the first day.

For full article by: David Becker click here.

Good Credit Help- Ways To Build Good Credit

Admin — Thu, 02 Dec 2004 21:05:43 -0800

One way to start developing a good credit history, if you have no credit or if you have bad credit is secured credit cards.

If you have a bank account start with that bank and apply for a secured credit card. The money you put down towards the secured credit card will be the amount you can use on the secured card.

Secured credit cards are also offered by lenders nationally who require a deposit, typically $300 $600, per application. Information about secured credit cards can be found on the internet. I would recommend taking a look at http://www.best-in-credit-cards-online.com/best-high-reward-cards.htm

This site has lots of information about all types of credit cards and credit card offers.

Can I stop or modify my request to transfer funds?

Admin — Sun, 28 Nov 2004 02:38:28 -0800

Yes. Until you get to the "Transfer Funds Confirmation " screen you can modify or cancel your funds transfer request. However, after you've completed a funds transfer transaction and have received a confirmation number, you cannot stop the transfer from occurring. At that point, if you change your mind about the amount you wanted to transfer, simply make a new transfer to move funds between the appropriate accounts.

Can I tell when transfers are posted to my account?

Admin — Sat, 27 Nov 2004 17:45:38 -0800
Yes. Transfers will be posted to your account immediately and reflected in your Account Balances.

For an Account History, what period is covered by "Today's Activity" ?

Admin — Sat, 27 Nov 2004 17:02:07 -0800
Today's Activity includes transactions you have performed since the end of SSFCU's last business day.

What details will I find on the Account History? Who can I call if I have a question?

Admin — Sat, 27 Nov 2004 16:57:35 -0800
When you select an Account History you can review details about each transaction. Details include the date, amount and description of the transaction and the balance in your account after the transaction was posted.

If you have any questions, please call a Member Services Representative at (813) 621-7511 or 1 (800) 999-5887 (outside the 813 area code).

What is an Account History?

Admin — Sat, 27 Nov 2004 16:54:32 -0800
An Account History allows you to review transactions posted to your personal checking, savings or loan accounts. You can review all transactions posted to your account since your last statement or up to two months prior to your last statement. It includes transactions you have performed since the end of SSFCU's last business day.
Simply select the time period to review transactions on the Account History selection page.

Regarding my Suncoast Schools Federal Credit Union loan, what's the difference between the "Original Balance" and the "Current Balance" ?

Admin — Sat, 27 Nov 2004 16:51:07 -0800
The Original Balance is the amount that you originally borrowed, including fees and insurance.

The Current Balance is the amount you still owe on the loan. Your actual payoff amount may differ from the Outstanding Balance shown because interest is applied daily to your account.

If you need the payoff amount of your loan, please call a Member Services Representative at (813) 621-7511 or 1 (800) 999-5887 (outside the 813 area code).

Regarding my Suncoast Schools Federal Credit Union mortgage, what's the difference between the "Principal Balance" and the "Escrow Balance" ?

Admin — Sat, 27 Nov 2004 16:49:16 -0800
The Principal Balance is the current unpaid balance, not including late charges or unpaid interest.

The Escrow Balance is the accumulation of that portion of your mortgage payment that goes to pay taxes and insurance. The escrow balance can become negative if the Credit Union had to pay out more than the amount collected.

For mortgage payoffs, please call 1-800-999-5887 or 813-621-7511. If your loan is not escrowed, speak to a Members Contact Center rep. If your mortgage is escrowed, ask for the escrow department.

Regarding my Suncoast Schools Federal Credit Union deposit account, what's the difference between the "Current Balance" and the "Available Balance" ?

Admin — Sat, 27 Nov 2004 16:46:52 -0800

The Current Balance is the total amount in your account at the end of the last business day.
The Available Balance is the amount of your current balance that is accessible to you right now. The available balance includes your current balance less any branch or ATM withdrawals and other deductions, funds transferred, or any funds placed on hold during the current business day.

Which Types of Accounts Can I Access Using Suncoast Schools Federal Credit Union Sunnet?

Admin — Sat, 27 Nov 2004 16:44:09 -0800
You can review account balances for any of your personal checking, savings or loan accounts, Share Certificates, IRAs, consumer loans and mortgages. You can also use the History function to review transaction history. In addtion, you can transfer funds between any of your personal Suncoast Schools Federal Credit Union checking, savings or loan accounts.

Consumer Credit Scores Drop Due To Delinquent Payments Incurred During Holiday Shopping Season

Admin — Thu, 18 Nov 2004 05:52:38 -0800

(PRWEB) November 19, 2004 -- Credit report scores drop dramatically due to delinquent payments from overspending during the holiday season which begins next week. SPENDonLIFE.com (http://www.spendonlife.com), a consumer savings website that provides credit reports, advises holiday season shoppers to keep a close eye on their expenses this year in order to avoid a credit report nightmare. A study by Experian Consumer Direct reveals that consumers with one missed payment in the last year have an average credit score of about 160 points lower than the average of those with no delinquent payments.

“A 160 point difference in your credit report history can mean paying hundreds or even thousands of dollars more on mortgages, car loans, or insurance,” says SPENDonLIFE.com President Mark Henry. “Late payments are not something to take lightly. Consumers should not spend money they cannot pay back.”

The study indicates that 55 percent of U.S. consumers have at least one delinquency on their credit file and 34 percent have a delinquency in the last year.

Read the full article here.

Overview of Bankruptcy

Admin — Mon, 15 Nov 2004 01:35:46 -0800

Until recent times, many countries treated an insolvent debtor pretty harshly. From 1603 to 1625, while King James I ruled in England, a debtor who was unable to satisfactorily explain his insolvency was subjected to ridicule in the public pillory.

During at least one period in Ancient Rome, creditors were entitled to enslave the debtor as well as his family.

As trade and commerce developed, steps were taken to ease these severe treatments.

In 1800 the U.S Congress adopted the first national bankruptcy law. It has been amended throughout the years and today's bankruptcy law as we know it is based on the Bankruptcy Act of 1978. Its intention is to give individuals or businesses a fresh start when necessary. Although bankruptcy law has been modified to some degree since 1978, it essentially remains the same.

Filing for bankruptcy does relieve a person from the obligation of paying many debts but there are also nondischargeable debts. This is indebtedness which the person is still responsible for even after filing bankruptcy. In recent years many people have mistakenly turned to bankruptcy as a "quick fix" for their financial woes. However, some have discovered that many difficulties can still lie ahead.