Credit Articles
USA about to lose credit rating?
The US might lose its AAA credit rating. You might not think that a country--especially the largest, most powerful on on earth, needs a credit rating but the fact of the matter is that we.... Keep Reading
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Snooty Bankers
Apparently the root cause of the mortgage crisis is snooty bankers according to Germany's finance minister. In case you thought I was talking about the US economy at first, Germany is facing a similar c.... Keep Reading
How much is the national debt?
I wasn't sure which section to post this in because I don't have a "Debt" category (yet anyway) so I guess I'll put this under credit since the national debt is essentially run off credit. As of today, November 9th, 2007, the US national debt is about $9 trillion dollars ($9,000,000,000,000). To g.... Keep Reading
31% APR
Are you kidding? No, that is what one of my co-workers is paying on his credit card. Yes, his credit is really bad but still. Does Mastercard really think someone with bad credit is going to be able to pay back $3k of debt while racking up interest rates over 30%? I can field that one for them--.... Keep Reading
Credit Discrimination
This is straight from CNN. I tried comment on it but I found I was rewriting it anyway so I figured I would just copy and paste the whole thing so you could read it. You are protected The Equal Credit Opportunity Act is in pl.... Keep Reading
Credit Story
When I was in college I worked for a computer company and my job did not have all the glamor that it does today (hah!). I processed refunds over the phone for people that were billed for subscriptions to one of our websites. What I always found particularly disheartening was that people always see.... Keep Reading
Citi Sends Out Unsolicited Macy's Cards
The unscrupulousness of credit card companies hit a new low when Citi sent out brand new, unsolicited credit cards to Macy's account holders who have been inactive for the past two years. Talk about a terrible idea. There was a time in my life where I would immediately shred mail that I wasn't exp.... Keep Reading
Bad Debt vs. Good Debt
A debt is debt, right? Nope. Ignore for a minute interest rates and focus simply on the quality of the debt and what it is exactly that you are buying. A good debt might buy you a night class at a community college--a bad debt might be racked up on credit cards for casual expenses that provide .... Keep Reading
Debt Collectors
Debt collectors are third parties hired by a lender to attempt to collect amounts you owe when you're late with your payments; they can be lawyers or companies in the business of collecting unpaid accounts. If your account gets turned over to a debt collector, you can save yourself a lot of grief i.... Keep Reading
Unforgivable Debts
A bankruptcy stays on your credit history for 10 years. During that period you may be denied credit. Some debts may not be dischargeable in a Chapter 7 bankruptcy if a credit challenges them. These include: · Debts you incurred by fraud · Credit purchases over a certain amount in th.... Keep Reading
When is an online transaction secure?
If you've ever bought something online, and it looks like most Americans have, at some point you've probably wondered about the security of the transaction. The good news is that most web browsers indicate which transactions are secure and which ones are not. Regardless of the browser you use, the.... Keep Reading
Identity Theft
Identity theft occurs when someone uses your personal information (such as your name, social security number, or credit card number) without your knowledge, to commit fraud or theft. Thieves may apply for a credit card in your name, using your date of birth and social security number, and charge l.... Keep Reading
I lost my credit card
If your card is lost or stolen, report it immediately to the bank or other issuer in order to limit your personal liability if the card is used fraudulently. Keep a list of your credit cards and telephone numbers in a safe place so you can access the phone number as quickly as possible. Under fede.... Keep Reading
Avoiding Credit Repair Scams
Some complains claim they can "fix" your bad credit history for a large sum. This can sound very appealing if you're desperately in debt and are being bothered by bill collectors. You should know, however, that it's legally (I stress legally) impossible to alter an accurate credit history. If you.... Keep Reading
Credit Counseling Service
Nonprofit consumer credit-counseling agencies may consolidate your debts into a single, manageable monthly bill. You pay the agency each month and they distribute the money to your creditors. This type of arrangement is not a consolidation loan, but it has its benefits because creditors will often.... Keep Reading
Debix vs. Lifelock
There are two leading companies offering personal identity theft protection: Lifelock and Debix. Lifelock has been established longer, has larger-profile clients and offers up to $1 million in guarantees of protection. Debix is relatively new but has already claimed some larger clients, including t.... Keep Reading
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