As presidential campaigns get more aggressive, don’t be surprised if you’re asked to make a credit card donation to help fund your party’s candidate. Technology has made it easy for campaign workers to take donations on the spot by swiping your credit card through a small device attached to a smart phone. Campaign season isn’t the only time you might be asked to make a donation via credit card. The holiday season is notorious for bell...
The Federal Trade Commission recently shut down a telemarketing scam following consumer complaints of being sold a bogus credit card. In the scam, telemarketers called consumers who’d recently applied for an online payday loan. These consumers were offered a credit card with a $9,500 credit limit if they agreed to pay an advance fee of $99 and a monthly fee of $19. Consumers were told the cards – the Platinum Trust Card and the Express Platinum...
Few people have guaranteed job security. Even in a stable job market your job is at risk. That’s why it’s important to take steps to prepare for unemployment now, especially while you still have a job. Hopefully, you’ll have never have to deal with an unexpected job loss, but if it happens, you’ll be happy you prepared for it. Build an Emergency Fund Traditionally, the ideal emergency fund would cover three to six months of living...
Identity theft and credit card fraud can be difficult to detect and sometimes costly and time-consuming to correct. While many there are laws and business policies to protect you from fraud liability, you’ll still have to spend time dealing with the effects of fraud. Early detection is key to ensuring you minimize credit card fraud damage. Your billing statement contains credit card transactions that you didn’t make. Perhaps the easiest way to spot credit card fraud...
Responding to a pre-approved credit card offer doesn’t mean you’ll necessarily actually get the credit card once you apply. Before you get your hopes up about a great credit card offer, know that you’ll still have to go through the regular qualification process and you could be denied the credit card or approved for one with less attractive terms. The wording is tricky and you’d have to read the fine print on the credit card offer...
Credit bureaus, also called credit reporting agencies, are big businesses in the credit industry. They play a major role in your financial life, so it’s important that you know who they are and what they do. Credit bureaus collect credit data about consumers and, upon request, compile the information in a document called a credit report. Many companies you do business with send your account details to the credit bureaus periodically. The credit bureau in turn...
A hit 70’s song said breaking up is hard to do. When you have a credit card that no longer benefits you, leaving may not be as tough as you think. Sometimes better credit cards come along and the cards that used to treat you well may not do the same thing any longer. Here are some examples of times you can break up with your credit card issuer. Your credit limit’s been cut. Imagine this...
Even a great credit score isn’t enough to guarantee your credit card application will be approved. It’s true, you can be denied a credit card even if you have excellent credit. That’s because your credit score isn’t the only factor credit card issuers consider when they decide whether to extend credit to you. Your Income/Ability to Repay Up until last year, you could get a credit card even without having your own income as long as...
Letter writing has become a little outdated thanks to email, text messages, and social media. But, writing a letter is sometimes the best way to deal with issues with creditors and other credit businesses. In fact, certain laws require you to communicate problems in writing for the creditor (or credit bureau or debt collector) to be held to their responsibilities. When you’re writing to creditors, debt collectors, or a credit bureau, go beyond a stamped envelope...
Creditors and debt collectors may never stop trying to collect on old debts, not as long as there’s still an outstanding balance. You might be contacted about debts years after they’ve dropped from their credit report. As an incentive to get you to pay these old debts, some creditors and collectors offer to settle the accounts with you. But before you take the offer, there are a few things you should know. What is Debt Settlement?...
