July 9, 2009
No Comments
Deciding its time to buy a new vehicle you set off to the car dealership in search of that new car you’ve been dreaming of getting for last year. Once you have everything picked out, down to the sound system and DVD player, you and the sales person go to sit down to do all the paperwork. That’s when it happens, you get the bad news. Your credit score is way too low and you’ve been turned down. The sales associate goes over the reasons with you, stating that there have been many large purchases made in your name and non of them were ever paid for. You have no idea what the sales associate is talking about, you haven’t made any large purchases in at least a year and half. After talking with the associate and arguing over your credit and the purchases you didn’t make, you leave furious and without a clue.
This is common among American’s, as credit card fraud occurs every 5-10 seconds, and it happens to someone just like you. You have excellent credit, have never made a payment late and suddenly you’ve been declined at a car dealership, or to buy furniture, a house maybe, or even get a new credit card. (more…)
January 21, 2009
No Comments
Ensuring that the minimum monthly payment is repaid to the credit card company every single month is essential to maintain a good standing account as well as maintaining the credit rating that you have worked so hard to achieve. Many customers are unaware that missing as little as one payment can lead to a lowered credit score, a higher interest rate from the credit card company and a strike that will not be removed from the record for up to seven years.
If you are having trouble making your minimum payments to the credit card company it is essential to know that there are many options available for consumers. At the first sign of financial trouble it is important to contact the credit card Company and explain the situation. They will offer you some of the following options to repay the credit card debt.
Lowering your interest rate. Lowering the interest rate on the credit card could save you money in the future as well as causing a minimal decrease on the monthly payment which is required. Which customers will be eligible for the lowered interest rate? As long as you have a good credit rating, have not missed payments in the past and are contacting the credit card agency before trouble has arisen on the account, you will be a good candidate for a lower interest rate.
(more…)
January 16, 2009
No Comments
For most consumers, the fine print on credit cards isn’t examined when the account has been opened. Unfortunately, this fine print can outline the terms and conditions of the card therefore, it is essential that the card holder be aware of the terms which are explained.
Although, those consumers that do read the fine print – are you really able to distinguish between the credit card terms mentioned in the fine print? Use this primer to guide you along the next time you become immersed in the fine print.
Annual Fee
The annual fee on a credit card is a separate entity from the interest charges which accrue as a service charge for credit card usage. There are hundreds of credit cards available that come without the average annual fee of $50.00 – even most rewards cards! When searching for a credit card, remember that the annual fee will be tacked on to your first payment once the account has been opened and usually at the beginning of the year after the account has been established. (more…)
