7 Stupid Strategies for Credit Card Consumerism
Consumers in the United States are leading the charge in the worldwide explosion of credit card debt; the total debt of American citizens alone is drawing ever closer to the vaunted trillion dollar mark. It takes some exceptionally irresponsible behavior to accumulate such impressive statistics, but there are a number of tried and true methods that can help you add your own two cents (or ten thousand dollars) to this historic effort. Just follow these seven simple guidelines Continue article...
Offer to Switch Citi Dividend to World Mastercard
Today I received a phone call from Citi welcoming me to the new Citi Diamond Preferred Rewards World Mastercard. They stated that my old Dividend card will automatically switch to the new card if I do nothing by June 30, but that I can keep my old card if I want.
Others have received the same offer, and I found some good discussion about the topic at Fat Wallet.
Many people are rejecting the offer. One of the reasons Continue article...
The Truth About Payday Loans
The Kansas City Star recently reported that a single mother used a payday loan to borrow $300 for a trip to the dentist. When she couldn’t pay the loan two weeks later, she extended it and paid $50 twice a month for almost four months and still owed the entire principle amount.
A woman in North Carolina started with a payday loan of “$50 or $100,” and before she knew it, she was getting one loan to pay another and had Continue article...
Kids and Credit Cards
A recent study by the Credit Abuse Resistance Education (CARE) program showed the number of 18- to 24-year-olds declaring bankruptcy has increased 96 percent in the last ten years. Credit payment problems are one of the key reasons younger people file for bankruptcy. According to the CARE report, Bad credit can negatively affect teens in the future — their ability to get a job, a loan, basic insurance or even an apartment.
FHA Loans
An FHA loan is a mortgage loan in the United States insured by the Federal Housing Administration. The loan may be issued by federally-qualified lenders. FHA loans have been helping people become homeowners since 1934. FHA’s mortgage insurance programs help low and moderate income families become homeowners by lowering some of the costs of their mortgage loans. The FHA does not make home loans–it insures them. If a home buyer defaults, the lender is paid from the insurance fund. Continue article...
My Credit Score
Beginning the process of searching for a mortgage, I recently received my credit report. The numbers look pretty good as I received scores of 783, 783, and 778. So, what the heck is a credit score anyway? When you apply for credit – whether for a credit card, a car loan, or a mortgage – lenders want to know what risk they’d take by loaning money to you. FICO® scores are the credit scores most lenders use to Continue article...
