• Emily's list: Midterm election edition

    Updated: 2010-11-30 21:28:24
    : Living with credit 335 New , interesting products 82 Research , regulation , industry reports 208 Rewards 32 Protecting yourself 131 The fine print 53 Credit card miscellany 335 Add category 1 Print Email Emily's list : Midterm election edition Emily Starbuck Gerson November 5, 2010 Living with credit Many Americans don't pay much attention to midterm elections . This year was a little different . Though it's been less than two years since he took office , many Americans have voiced frustration that President Obama hasn't done enough to fix the economy . His approval ratings have slipped . On the other hand , conservatives think too much has changed that there has been overspending , and that the government has become far too big with things such as the health care reform bill and Wall

  • Emily's list: Privacy is dead edition

    Updated: 2010-11-30 21:28:24
    : Living with credit 336 New , interesting products 84 Research , regulation , industry reports 209 Rewards 32 Protecting yourself 131 The fine print 56 Credit card miscellany 335 Add category 1 Print Email Emily's list : Privacy is dead edition Emily Starbuck Gerson November 19, 2010 Living with credit I'm a Newsweek subscriber , and last weekend I did some catching up on issues I hadn't read . I found an article from last month that truly shocked me . Sure , I knew that privacy as a whole was diminishing due to the Internet . I just didn't realize exactly how much information-gathering is now possible , nor how much room there was for misinterpretation of that information . Newsweek writer Jessica Bennett wrote a piece called What the Internet Knows About You which reveals that there are

  • Emily's List: Black Friday edition

    Updated: 2010-11-30 21:28:24
    : Living with credit 337 New , interesting products 85 Research , regulation , industry reports 209 Rewards 32 Protecting yourself 131 The fine print 57 Credit card miscellany 335 Add category 1 Print Email Emily's List : Black Friday edition Emily Starbuck Gerson November 26, 2010 Living with credit If you live in America , you probably stuffed yourself silly Thursday with turkey and pie . Perhaps you're even still digesting . Did you also take some time to think about what you are thankful for When I was young , every year at Thanksgiving my grandmother would come over to the kids table and make us tell her what we were thankful for that year . I didn't enjoy this practice at the time , but now that I'm older , I think it was wise to have us reflect on this . This tradition has fizzled

  • Kardashian Kard kaput!

    Updated: 2010-11-30 21:28:24
    Less than a month after its debut, the Kardashian Kard may be kaput. Kanned, Kanceled. Klipped. Kremated. The prepaid debit card featured high upfront fees ($59.95 for six months or $99.95 for a year-long membership) and was heavily marketed to teens and young professionals. Consumer groups warned teens, their parents and young adults not to be swayed by the card's hip promoters, celebrity sisters Kim, Khloe and Kourtney Kardashian. Consumers Union, the nonprofit owners of Consumer Reports magazine, even started a campaign asking consumers to sign e-cards urging the Kardashians to take their names off the prepaid card. It looks like they've done just that.

  • Is it a turkey? Kardashian Kard blog makes Thanksgiving carnival

    Updated: 2010-11-30 21:28:24
    Our blog about the potential pitfalls of the new Kardashian Kard prepaid card was selected for this week's Carnival of Personal Finance. Hosted by Sweating The Big Stuff, the 284th edition of the personal finance carnival featured a Thanksgiving theme.Categories included The Turkey, Football, Family, Shopping and the Wishbone. The Kardashian blog reports the growing concerns, expressed by Consumers Union and others, about the prepaid card. Critics say they worry that impressionable young people will sign up for the card, which is marketed by celebrity sisters Kim, Khloe and Kourtney Kardashian to teens and young professionals.

  • Group seeks reprieve for using medical accounts to buy over-the-counter medicine

    Updated: 2010-11-30 21:28:24
    Come Jan. 1, a new provision in the federal government's Patient Protection and Affordable Care Act will prohibit the purchase of over-the-counter (OTCs) medications from HSAs, FSAs, and similar accounts unless you have a doctor's prescription. So that means paying for those remedies for tummy troubles and throbbing heads from your HSA or FSA will be off-limits. Your attempt to purchase the products with your HSA or FSA debit card might be blocked, or if the transaction does go through, you might need another stiff drink when you see the stiff penalty you might incur. But last week, a consortium of pharmacists and grocers asked that the rule be rescinded.

  • Emily's list: Trim your debt and fat edition

    Updated: 2010-11-30 21:28:24
    : Living with credit 335 New , interesting products 82 Research , regulation , industry reports 208 Rewards 32 Protecting yourself 131 The fine print 53 Credit card miscellany 335 Add category 1 Print Email Emily's list : Trim your debt and fat edition Emily Starbuck Gerson November 12, 2010 Living with credit I see two parallel movements , and I like both : We're trimming the fat from both our diets and our . finances First , finances . There has been a great emphasis on establishing good financial health for individuals , and in February , the Credit CARD Act of 2009 went into effect . Among many other things , the regulations require credit card issuers to give their cardholders a 45-day notice of any major changes to the terms of agreement . Over-the-limit fees were restricted .

  • Flu shot blog makes Carnival of Personal Finance

    Updated: 2010-11-30 21:28:24
    Last week's blog about getting your annual flu shot at a pharmacy rather than going to your primary care physician was selected for the weekly Carnival of Personal Finance.

  • Consumers Union warns teens: Don't keep up with the Kardashian Kard

    Updated: 2010-11-30 21:28:24
    It's one thing to be hip and cool, but don't let the cool thing of the moment lead you to make bad money decisions. That's the message behind a warning issued today by a leading consumer advocacy group about the Kardashian Kard, a new prepaid debit card being marketed to teens and young adults. As its name implies, the card is backed by the Kardashian sisters, Kim, Kourtney and Khloe, the stars of the E! cable network reality series about their lavish lifestyles, "Keeping up with the Kardashians." Last week, when the Kardashian trio announced they were lending their names and celebrity to a new prepaid debit card, the general reaction from smart money watchers was: Keep away.

  • Sting of flu vaccine hits us all -- in the pocket

    Updated: 2010-11-30 21:28:24
    Flu season is upon us and you or a loved one might be rolling up your sleeves to get the annual vaccination against the influenza virus. Here's my question for you: How are you paying for it? If you have health insurance coverage through your employer, you might think you're doing the right thing if you go to your doctor's office for the shot. But are you?

  • Google Inc (GOOG) $5.3 Billion Groupon Purchase Not Happening Anymore?

    Updated: 2010-11-30 20:33:33
    NEWS BRIEF... Earlier today, the financial media seemed utterly convinced that Google Inc (GOOG) was just a penstroke away from acquiring Groupon for $5.3 billion. This is a bit confusing. A breaking news bulletin on MarketWatch now says as follows: "Google deal for Groupon not imminent: Wall St. Journal." (as of 3:31 p.m. ET) But there is nothing about this on the Wall Street Journal's site at the moment. Did Google lose interest? Did Groupon ask for more than the Googlers were willing to shell out? Or is Groupon something of a corporate tease? Earlier this year, it allegedly iced...

  • Citigroup Inc (C) and Wells Fargo (WFC) Benefiting From Bank of America Selloff

    Updated: 2010-11-30 20:25:41
    Bank of America Corp (NYSE: BAC) fell to a new 52-week low this afternoon, as we reported minutes ago, on WikiLeaks rumor fears. This is evidently boosting some of its rivals' share prices, though, at least unless (or until) sector-wide panic sets in. Citigroup Inc (NYSE: C) is up 1.57% as this post goes live, and Wells Fargo & Co (NYSE: WFC) is up 0.34%. It will be interesting to see how much of a rebound Bank of America shares experience tomorrow, once this temporary panic subsides. For entertainment purposes only; information provided may be inaccurate, incomplete, or out of...

  • Serious: Bank of America (BAC) Stock Tanking on WikiLeaks Rumors

    Updated: 2010-11-30 20:14:42
    Wow. Down 3.10%, this happened practically in the blink of an eye, to $10.96 per share. UPDATE: This is a new 52-week low for Bank of America Corp (NYSE: BAC) stock. This is starting to get scary. Earlier this afternoon, rumors that WikiLeaks was targeting Bank of America spread through the media faster than bed bugs in a seedy NYC Times Square hotel. Someone should do something. Bank of America executives should issue a statement of some kind to calm investor fear, and they should also contact the sleazy provocateurs at WikiLeaks to see if there is any truth to...

  • Bank of America (BAC) WikiLeaks Selloff Stabilizes, Buy Now?

    Updated: 2010-11-30 19:40:41
    After dropping as far as 2.56% minutes ago due to rumors that WikiLeaks may be targeting it next, Bank of America Corp (NYSE: BAC) stock appears to be stabilizing... Down only 2.52%, and now down 2.39%... UPDATE: now down 2.03%. What do you think? Would now be a good time for short-term day traders to jump in and make a quick profit? I personally cannot do so, I'm already fully invested in my UGL and DIG positions. Also, it would be morally questionable to do that since we have been covering the WikiLeaks rumor heavily here on Outlaw this afternoon....

  • Availing of Good Cash Back Credit Cards

    Updated: 2010-11-30 05:27:01
    Credit Card Blog Credit Card Articles Home Online Credit Card Applications Best Credit Cards Credit Card Comparison Availing of Good Cash Back Credit Cards November 29, 2010 With the current technology we have these days a lot of people prefer to bring some kind of a cash back credit card or a secured credit card instead of pulling out some cash from their wallets or purses . Personally , I think this is a really great method to have more convenience and safety in our lives especially when going around shopping or purchasing some major items . Imagine that you are out going to buy a few hundred dollars worth of television set and you put your money in your wallet then out of sheer bad luck get your wallet left , dropped , or pick-pocketed That would be such a shame , isn’t it In this case

  • The Political Economy of CFPB Funding

    Updated: 2010-11-30 02:06:35

  • 5 Reasons The Kardashian Kard Is A Ripoff

    Updated: 2010-11-29 14:00:07
    Credit Cards Blog New Card Offers 5 Reasons The Kardashian Kard Is A Ripoff 5 Reasons The Kardashian Kard Is A Ripoff Monday , November 29th , 2010 If you have not yet heard , Kim Kardashian and her sisters have teamed up with MasterCard to offer a prepaid debit card aimed at teens and young adults . To fans , this may sound exciting until you realize it may just be one of the worst prepaid cards on the . market If anything , this will teach those trying to learn about financial responsibility how to spot a ripoff and what not to look for in a . card 1. The Fee To get started with this card , you must pay a 59.95 annual fee . What is this , you might ask , a premium credit card Nope , it’s a debit card . Perhaps this initial fee goes to funding the Kardashian family’s shopping . addiction

  • WSJ: The Tail Wags the Foreclosure Dog

    Updated: 2010-11-28 19:10:12

  • Are Credit Cards Really Necessary?

    Updated: 2010-11-28 04:28:03
    Credit Card Blog Credit Card Articles Home Online Credit Card Applications Best Credit Cards Credit Card Comparison Are Credit Cards Really Necessary November 27, 2010 Credit started centuries ago as a means to delay payment . Now , credit cards are used for the same purpose , only this time , it is becoming . abused Imagine yourself in front of your computer and you have been tracking an item that is in auction in an online store . You just placed in your bid , one minute before the timer ends . Then suddenly , after ten seconds a buyer bid against you , offering almost double of your bid . You don’t have much with you and you’ve thought of your credit card , so you courageously waited for thirty seconds before putting on a triple amount of your previous bid . Congratulations you won the

  • Salvation Army Santas Now Taking Credit Cards

    Updated: 2010-11-27 14:00:53
    Credit Cards Blog Tips Advice Salvation Army Santas Now Taking Credit Cards Salvation Army Santas Now Taking Credit Cards Saturday , November 27th , 2010 In an effort to up their donation factor , the Salvation Army Santas and bell ringers will now be asking the all important question Cash , check , or charge Yes , you heard me . Santa now takes . plastic More than 50 Salvation Army bell ringers across thirty cities will be equipped with wireless credit card machines , allowing them to process your donation via major credit card . The Salvation Army organization is desperate for more donations this year . With the state of the economy and the still-high unemployment rates , the Salvation Army has decided to implement the credit card acceptance option for their street corner Santas in the

  • Biggest Credit Card Deals for 2010 Holiday Shopping

    Updated: 2010-11-26 14:00:43
    Credit Cards Blog Tips Advice Biggest Credit Card Deals for 2010 Holiday Shopping Biggest Credit Card Deals for 2010 Holiday Shopping Friday , November 26th , 2010 The holiday season is beginning , and that means great deals on all sorts of merchandise . It also means that credit card companies are teaming up with retailers to offer deals for shoppers when they visit a store , or even shop online . Without further ado , here are the top deals of the 2010 holiday . season American Express Daily Wish Instead of there only being one day for awesome deals Black Friday American Express has the Daily Wish Every day until the end of the holiday season , the Daily Wish will announce a new deal . Great prices on gift cards , electronics and travel vouchers are included on this site . You can even

  • From Secured to Unsecured Credit Cards

    Updated: 2010-11-26 00:59:45
    Credit Card Blog Credit Card Articles Home Online Credit Card Applications Best Credit Cards Credit Card Comparison From Secured to Unsecured Credit Cards November 25, 2010 The security credit card is a card type designed for people with either a bad or no credit history . A person’s credit history turns bad when there had been records shown on his credit report about loan or credit card bills which had not been repaid or a declaration of bankruptcy while people with no credit history are those who had never been a borrower before hence no existing credit history . record People who fall on either two of the categories are worried that no loans or credit cards will be granted to them since credit card companies and lenders have stricter rules . nowadays Credit reports are where companies

  • Credit Cards For Holiday Shopping Almost Indispensable?

    Updated: 2010-11-25 14:00:34
    Credit Cards Blog Tips Advice Credit Cards For Holiday Shopping Almost Indispensable Credit Cards For Holiday Shopping Almost Indispensable Thursday , November 25th , 2010 Black Friday , the nation’s largest shopping day , is nearly upon us . Holiday shoppers will be descending to their local malls and department stores in search of the perfect gifts for the 2010 holiday season . While many people save up for holiday shopping via Christmas Clubs or other savings accounts , credit cards are really the tool shoppers should be utilizing during the shopping . chaos Face it we can all go a little crazy shopping for our loved ones and friends . We also may become so frustrated and overwhelmed just trying to make it to the check out line with something . It is because of the madness of Black

  • Watch Out for Credit Card Rip Offs

    Updated: 2010-11-24 14:00:55
    Credit Cards Blog Tips Advice Watch Out for Credit Card Rip Offs Watch Out for Credit Card Rip Offs Wednesday , November 24th , 2010 Consumers still must be on watch for credit card rip offs . With the credit card reforms in place , many consumers thought that the card companies would play nice” . Unfortunately this isn’t the . case To beef up their incomes some companies are charging fees for services that most consumers can do for themselves for free . Ohio Attorney General Richard Cordray says that the companies are not offering anything that consumers cannot do on their own . He also identified that his office has received many complaints regarding credit card companies offering bogus claims and charging . fees Some of the services offered by the companies are negotiating with

  • How to Find the Best Cash Back Cards

    Updated: 2010-11-24 08:56:11
    Credit Card Blog Credit Card Articles Home Online Credit Card Applications Best Credit Cards Credit Card Comparison How to Find the Best Cash Back Cards November 23, 2010 When you apply for a cash-back credit card , you should be very vigilant for there could be hidden charges behind them . You may get like five percent rebates on the first few months and you’ll realize that the rates are declining . So this is very important that you read the policies before even signing . up Your credit card company always reserves the right to make any changes when they want even without customer’s consent so then again read the fine print to avoid complaints and conflict in the future . Since you can’t complain for any future changes then all you can do is enjoy what they give . you There are different

  • Robosigning and Evidence

    Updated: 2010-11-23 15:58:34

  • Is Balance Transfer Arbitrage Still Possible?

    Updated: 2010-11-23 14:00:23
    Credit Cards Blog Tips Advice Is Balance Transfer Arbitrage Still Possible Is Balance Transfer Arbitrage Still Possible Tuesday , November 23rd , 2010 To understand what balance transfer arbitrage is concerning credit cards it is first important to understand what arbitrage . means According to Investopedia , arbitrage : is Buying in one market and simultaneously selling in another , profiting from the temporary difference . 8221 Credit card arbitrage involves borrowing money from credit card companies , then investing that money in an instrument offering a higher interest rate than what you’re paying . Credit card arbitrage used to be easier in the past before the CARD Act changed the rules but it is still a possibility if you know how to do it right How It Works Step : One Accept a 0

  • So now the Kardashians Are Financial Role Models?

    Updated: 2010-11-23 06:31:08

  • Facebook: Not Just for Finding Hot Dates Anymore

    Updated: 2010-11-23 00:01:03

  • The Ultimate Credit Card Auto Rental Insurance Guide

    Updated: 2010-11-22 14:00:29
    Credit Cards Blog Tips Advice The Ultimate Credit Card Auto Rental Insurance Guide The Ultimate Credit Card Auto Rental Insurance Guide Monday , November 22nd , 2010 Credit cards often provide valuable insurance and purchase protection that you just can’t get when you pay with debit cards or cash . Auto rental insurance is one of the commonly offered insurance plans you can get at no extra cost when you pay for your car rental on a credit card Actual insurance coverage and protections vary from one credit card to another , so you’ll want to check your card’s terms and agreements for specific details , but the following 5 tips provide the ultimate guide to credit card auto rental : insurance Use a Credit Card with Auto Rental Insurance Protection When Renting a Car Many consumers are making

  • Can HAMP Help in Bankruptcy?

    Updated: 2010-11-22 06:42:00

  • Things to Check on a Cash Back Credit Card

    Updated: 2010-11-22 05:16:45
    Credit Card Blog Credit Card Articles Home Online Credit Card Applications Best Credit Cards Credit Card Comparison Things to Check on a Cash Back Credit Card November 21, 2010 There are different kinds of credit cards each having their own features , drawbacks and benefits . So shopping for several cards is the primary thing that you have to do . Some credit cards offer frequent miles or rewards points every time that you shop that you can use to claim some stuff from gadgets , to bags to perfumes for free . But one of the most common and attractive type are the cash back credit . cards Who wouldn’t be pleased and be attracted with such a card . The cash rebate rate depends from one bank to another . Some offer four percent or sometimes even five percent to credit cardholders . But it

  • Hats off to Ethan Cohen-Cole

    Updated: 2010-11-21 21:42:59

  • How to Maintain a Good Standing Secured Credit Card

    Updated: 2010-11-20 01:37:22
    Credit Card Blog Credit Card Articles Home Online Credit Card Applications Best Credit Cards Credit Card Comparison How to Maintain a Good Standing Secured Credit Card November 19, 2010 Even if immigrants already have already an established credit history way back home , there still is a need for them to build one when they reach the United States . It is because each country has different sets of rules when it comes to credit . With this , even if you have a very impressive credit rating in your own country , you’ll back to square one when you reach the US almost having the same level with people with a bad credit history . Of course this is not something to be disappointed about for there is always a way to fix things . It might take some time but it will be fixed . But how can you get

  • Thank you

    Updated: 2010-11-19 20:15:00

  • Ever Wonder What Happens to Your Credit Cards When You Die?

    Updated: 2010-11-19 04:01:40
    Credit Cards Blog Tips Advice Ever Wonder What Happens to Your Credit Cards When You Die Ever Wonder What Happens to Your Credit Cards When You Die Thursday , November 18th , 2010 They say there is nothing certain in life but death and taxes . When you die , there are a lot of issues to deal with and many experts encourage people of all ages to take care of their business just in case something should happen . It makes things easier on those you leave behind . This is especially true with your credit card debts . Debt doesn’t go away just because you pass . away So what happens when you die Do your credit cards die with you All people’s financial situations are different so there is no one right answer to this question . Let’s consider the many factors involved in your credit card debt in

  • Have That Powerful Plastic

    Updated: 2010-11-18 04:58:46
    Credit Card Blog Credit Card Articles Home Online Credit Card Applications Best Credit Cards Credit Card Comparison Have That Powerful Plastic November 17, 2010 Credit cards are often termed by a lot of users as a powerful plastic so powerful that purchases can be made without cash needed . They work like cash and are easier obtained now than several years ago . Well , yes it is easier but with restrictions coupled with . it Credit card companies look on several factors like credit history and income and not a lot pass on this aspect . It could frustrate some but companies have their own standards that we just can’t break . There are several cards that one can apply for and one of the latest trends when it comes to credit cards is the instantly approved . card There had been some

  • Credit Counseling Tricks and Traps

    Updated: 2010-11-18 03:56:27
    Credit Cards Blog Debt Consolidation Credit Counseling Tricks and Traps Credit Counseling Tricks and Traps Wednesday , November 17th , 2010 If you are dealing with high credit card balances that you can not afford to pay off or even pay down , it’s time to consider your options . There is bankruptcy which is typically the last resort to take because of its stiff consequences . There are also debt consolidation programs that can be used to pay down debts based on your income and other financial obligations . For people who can not afford or don’t want to file bankruptcy , credit counseling and debt consolidation programs may be the best . options Unfortunately , as with many situations that involve desperate consumers , there are unsavory practices that can cause more damage to a consumer’s

  • Top 3 Ways To Avoid Loophole Fees From Card Issuers

    Updated: 2010-11-16 21:48:44
    Credit Cards Blog Tips Advice Top 3 Ways To Avoid Loophole Fees From Card Issuers Top 3 Ways To Avoid Loophole Fees From Card Issuers Tuesday , November 16th , 2010 The CARD Act enacted in 2009 is a legal measure instituted to help consumers maintain some protection from previously unregulated practices of the credit card companies . But in a competitive industry , credit card companies didn’t exactly sit still and take the changes lying down . The CARD Act changes essentially hurt the profit margin of credit card providers who in turn put on their creative thinking caps to find the loopholes the law left . open The CARD Act changed the practices of credit card companies that were charging unfair fees and hiking interest rates for seemingly no reason at all . The new law also required

  • Lenders continue to face scrutiny over faulty foreclosure documents

    Updated: 2010-11-16 00:29:15
    The nation's largest banks that were responsible for erroneous foreclosure paperwork will go before Congress this week to further determine how to rectify the situation and allow borrowers to save their homes.

  • Americans cutting back on small expenses to save money, study finds

    Updated: 2010-11-16 00:29:14
    Although the recession is over, the unemployment rate continues to hover around 10 percent, foreclosure and bankruptcy filings are increasing and Americans are still grappling with credit card debt. As a result, more consumers are making small lifestyle changes to reduce their expenses and save money.

  • Credit cards for young people

    Updated: 2010-11-16 00:28:59
    Credit Card Blog Credit Card Articles Home Online Credit Card Applications Best Credit Cards Credit Card Comparison Credit cards for young people November 15, 2010 Applying for a loan is not that easy especially for the young ones . By having no income yet and a credit history this could almost be impossible . With this , you can see a lot of young people taking part-time jobs , borrow money from friends or relatives or apply for scholarships just to get through college . With most of your friends having financial difficulties as well and most of your time spent on school project , how can you find time to earn extra for yourself Credit cards can be of great help to students but with most companies not willing to approve a credit card for them , how can they avail of such a privilege’

  • Many lenders up rewards and discounts for holiday shopping on credit cards

    Updated: 2010-11-14 08:26:08
    Most Americans say they will either reduce their total credit card use this holiday season, or eliminate it entirely, and that's led many lenders to increase the amount of cash back rewards and discounts they give for spending at certain retailers.

  • Know How to Fix Your Credit History

    Updated: 2010-11-14 08:26:06
    Credit Card Blog Credit Card Articles Home Online Credit Card Applications Best Credit Cards Credit Card Comparison Know How to Fix Your Credit History November 13, 2010 Are you credit worthy When is one considered to be one When you have a good credit history you are considered to be creditworthy . What then is a good credit history A good credit history is one where your record shows that you were able to manage repaying loans and mortgages and that all your debts p are paid on time . These kinds of reports are monitored by credit bureaus like Experian , Equifax and TransUnion . p So if there would be a declaration of bankruptcy in your part that would give lenders and credit card companies’ second thoughts of investing on you . But what if you never had a credit record before and would

  • Mortgage rates could sink even lower

    Updated: 2010-11-12 21:37:50
    For the last several months, interest rates have hovered at or near record lows - they're currently at the lowest point observed since 1951 - but some experts believe they could fall even lower.

  • Existing home sales decrease sharply in third quarter

    Updated: 2010-11-12 21:37:50
    The expiration of the home buyer tax credit earlier this year is still causing problems in the housing market.

  • Consumers will scale back credit card spending this holiday season

    Updated: 2010-11-12 05:36:03
    Americans will rely less on their credit cards when they do their holiday shopping this year, a new survey found.

  • How helpful credit cards are

    Updated: 2010-11-12 05:36:01
    Credit Card Blog Credit Card Articles Home Online Credit Card Applications Best Credit Cards Credit Card Comparison How helpful credit cards are November 11, 2010 Having no credit history means you haven’t any record of debts in the past . Ideally , this is a very good thing but this could also be a pitfall for you if you’re planning of getting a loan , a mortgage or apply for a credit card How could that be It is because , lenders and credit card companies don’t have a basis yet of your creditworthiness . On the other hand , having a bad credit history could also be a disadvantage for lenders have an idea on how badly you have managed your finances in the past and even in the present . So having no credit is still far better than having a bad one . The question now is , how can you have a

  • Credit cards, mortgages targeted for reform

    Updated: 2010-11-11 21:35:21
    Credit card and mortgage terms may become easier to decipher if the new Consumer Financial Protection Agency has anything to say about it. Elizabeth Warren, Harvard professor and CFPA special advisor, recently announced her initial plans to revise credit card and mortgage agreements, which may be confusing to consumers.

  • Bankruptcy filings rise 11 percent through September

    Updated: 2010-11-11 21:35:20
    The number of consumers who were forced to file for bankruptcy so far this year topped 1.2 million through the first nine months of 2010.

  • Number of mortgage applications rose again last week

    Updated: 2010-11-10 21:37:24
    Consumers sought more mortgages yet again last week, as the number of refinances and new loans increased.

  • Consumers cut debt by $110 billion in third quarter

    Updated: 2010-11-10 21:37:22
    Americans are being more conscious of the amount of debt they carry, and as a result lowered the money they owed to creditors by about $110 billion in the third quarter.

  • Mortgage lending restrictions tighten for small banks despite less demand

    Updated: 2010-11-09 21:35:02
    Even as consumers showed less interest in taking out new mortgages or applying for refinances, small banks across the country have tightened restrictions on who they will grant these loans to.

  • Consumer credit card debt drops sharply in September

    Updated: 2010-11-09 21:35:01
    The rate at which consumers shed their credit card debt in September was the highest observed in months.

  • Credit scoring systems to be revised

    Updated: 2010-11-09 13:34:36
    Consumer creditworthiness has deteriorated so sharply over the past few years that the two companies responsible for formulating the most popular credit scoring systems will soon revise the way the ratings are calculated.

  • Fun and stress reduction trump saving money as 2011 New Year's Resolutions

    Updated: 2010-11-08 18:59:53
    Fewer consumers are concerned with building their bank accounts in 2011, opting instead to have more fun or relax, a new study reveals. The results of TD Ameritrade's annual New Year's Resolution survey shows 65 percent of respondents said saving money was their top concern, while 67 percent said they plan to either "have more fun" or "relax/reduce stress."

  • New "How-To" homebuying videos offered by HUD and Realtors to help consumers

    Updated: 2010-11-08 18:59:52
    Undergoing the process of purchasing a home can be a tedious process, namely due to the wealth of paperwork and documentation involved. But the Department of Housing and Urban Development has partnered with the National Association of Realtors to make the procedures more clear and facilitate buyers in securing a mortgage.

  • JP Morgan Chase to continue foreclosure filings

    Updated: 2010-11-08 18:59:51
    Many of the nation's largest lenders and financial institutions are continuing to sift through foreclosure documents for errors, but the halt of foreclosure proceedings may be coming to an end. JP Morgan Chase, one of the banks that discovered significant processing errors, announced it will re-start foreclosure proceedings on more than 127,000 accounts over the next few weeks.

  • Unemployment holds steady despite private sector job growth

    Updated: 2010-11-06 18:55:06
    While the national unemployment rate hovered near the average it's held for a number of months, there was considerable improvement in job growth in the private sector.

  • Consumers still unhappy with lenders despite lower debt totals

    Updated: 2010-11-06 10:54:34
    Changes instituted by the Credit Card Accountability, Responsibility and Disclosure Act have helped Americans to reduce the median consumer credit card debt considerably over the last year, but many still say they're not satisfied with their lenders.

  • Bank of America issues $173 billion in credit during third quarter

    Updated: 2010-11-06 10:54:33
    The rate at which consumers are seeking loans has increased as the economy continues to recover, and Bank of America, one of the largest lenders in the country, says it issued nearly $175 billion in credit to individuals and businesses in the third quarter.

  • Paying underwater mortgages may create economic drag

    Updated: 2010-11-05 08:38:19
    Many consumers have wondered what they can do about their underwater home loan. Some may consider simply walking away to create a strategic default, and others could be conscientious in continuing to make their payments. But a new report says the latter group might be creating an economic drag.

  • FTC may allow debt collectors to target deceased's family members

    Updated: 2010-11-05 00:37:18
    The death of a family member can take a heavy emotional toll on his or her survivors. But this strain may be even heavier if the Federal Trade Commission decides to weaken the current protections that shield survivors from deceased family members' debts.

  • Fitch: Credit card defaults and delinquencies fell in September

    Updated: 2010-11-05 00:37:17
    The number of consumers who were experiencing money problems so bad they could no longer pay their credit card bills fell in September to rates not seen since 2008.

  • Credit score literacy low among parents

    Updated: 2010-11-04 00:35:33
    Many families are taking tighter control of their finances by increasing their savings and paying down debt, but many parents do not understand how their actions affect their credit scores.

  • Mortgage applications tumble as rates rise

    Updated: 2010-11-04 00:35:32
    The number of new home loan applications that were originated across the country fell considerably over the last week thanks to an increase in mortgage rates.

  • Some failed home loan modifications lead to foreclosure and bankruptcy

    Updated: 2010-11-04 00:35:31
    In the past year and a half, many homeowners have attempted to get a better rate on their home loan through the government's Home Affordable Modification Program. But about half of those consumers have been rejected, and some of them have found themselves in foreclosure or even bankruptcy as a result.

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