Credit cards

Low interest credit cards: what benefits you will get

Today you can see ads about credit card companies that propose credit cards with low interest rate. And this is an attractive option. However, with low percentage, best credit cards offer combinations More »

Credit card

Using of a credit or debit card has advantages and disadvantages

There are many decisions for a small business owner in our fast developing world. When it adverts to different budgets for advertising, inventory, travel and more, every decision is important. A major More »

credit cards

What can rewards credit cards offer you?

Using rewards credit cads, you will find rewards everywhere: gasoline stations, groceries, supermarkets and restaurants. They all want to reward you just for buying. Similarly, the credit card providers have their own More »

Credit Cards

A bad credit credit card: types and advantages

It is easy to obtain credit cards, even with a low credit score. Interest and fees will be higher, but your application will be approved. Start rebuilding of your credit now. The More »

Category Archives: Credit Cards

Ask Creditnet: Is My Credit Card Reporting Correctly?

September 30, 2010  |  Lilly Franklin

Dear Creditnet: I’m a cosigner on my son’s credit card. I know, that may have been a mistake in the first place.

Recently, I pulled my credit report and found out that the account was maxed out, closed in March of last year, and then reported late for six months before he started making payments again. The account status is currently listed as “Pays As Agreed.”

I called the credit card company asking why this is listed as closed if my son is still paying on it every month? They said it was closed because they did not want him to use the account anymore.

Is this the correct way to report the credit card on my credit reports, or should it show as an open account with a zero credit limit?

Answer: Your credit card account appears to be reported correctly based upon the information you’ve provided. Since the card issuer closed the account, it should be reported as “closed” while also indicating the credit limit at the time of closing and the current balance.

Unfortunately, this is a common occurrence these days. Credit card c

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Tags: Card, Credit Card
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Worst New Trend; Paid Co-Signers

September 29, 2010  |  Sofia Tuckson

A few weeks ago, I wrote about how college students were trying being circumvent the new CARD Act rules for credit card holders under 21.    Today, I just saw this article about how college students skirt to get credit cards. Apparently, they are actually paying other people to be co-signers.  This is just a terrible idea on so many levels.

For The Underage Applicant

There is a reason that the CARD Act was created with the restrictions against giving credit to those under 21 without the ability to pay their bills.

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Tags: New, New Trend
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Revitalash Eyelash Conditioner From Citi ThankYou

September 26, 2010  |  Sofia Tuckson

Citi ThankYou Rewards members can currently receive a special deal on Revitalash Eyelash Conditioner for 9,800 points instead of the regular 25,200 points.

Revitalash Eyelash Conditioner helps you grow longer and fuller lashes with results in 3 to 10 weeks. Additionally, a portion of the proceeds support breast cancer research.

The Following Cards Have The ThankYou Network

Citi® Diamond Preferred® Card

Citi Forward® Card

 
Tags: Citi Thankyou, Eyelash Conditioner, Revitalash Eyelash Conditioner, Thankyou
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Card Issuers Don’t Care What Credit Limit You “Need”

September 21, 2010  |  Lilly Franklin

Credit issuers have become quite stingy when offering new credit card limits. But who can really blame them? With unemployment high and the economy still sputtering along, it shouldn’t come as a surprise that credit issuers want to do everything possible to reduce unnecessary risk.

Likewise, consumers are trying to reduce their own risk by paying down credit card debt and saving more cash. According to the latest report from the Federal Reserve Bank, revolving credit decreased nearly $900 million between June and July of this year. That marks a total annual decline of 1.8 percent and suggests that Americans are truly serious about not only curbing spending but also managing their existing debt.

So, how are they actually doing it? 0% balance transfer credit cards continue to be one of the most popular tools people use to pay down high-interest credit card debt during tough economic times. While these types of card offers aren’t as abundant as they were a few years ago, there are fortunately several excellent products still on the market from major issuers like Citibank and Discover. And

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Tags: Limit, Limit “need”
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Get Organized With A Fresh Start from Membership Rewards

September 21, 2010  |  Sofia Tuckson

For 150,000 points, American Express Cardholders who are members of Membership Rewards can spend 6 hours with a professional organizer with A Fresh Start. The organizer can assist you with optimizing your office space, desk top overhauls or even organizing closets and garages.

The Membership Rewards Program is available for the following cards:

American Express (R) Preferred Rewards Gold Card

Platinum Card(R) from American Express

 
Tags: Fresh Start, Membership Rewards, Rewards
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Yet Another FICO Credit-Scoring Myth

September 18, 2010  |  Lilly Franklin

Have you heard about how you can unlock your car by having someone transmit a signal from a spare remote key via your cell phone? Pretty cool, huh? Well, it doesn’t work.

Keyless remotes and cell phones operate on completely different frequencies, so don’t plan on this trick ever saving the day the next time you lock your keys in the trunk.

Regardless, I’ve heard this urban myth so many times over the past few months I even started to believe it might work. That is, until I saw it busted with my own eyes on perhaps the greatest show known to mankind—Mythbusters. Seriously, I can’t get enough of the Discovery Channel.

Similarly, we all know there are plenty of credit-scoring myths out there that spread like wildfire. Who knows where they start, but they too tend to gain incredible momentum as they spread via email forwards and conversations around the water cooler.

Here’s one I’ve received several emails about lately. It has to do

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Americans Having Problems Using Credit Cards Abroad

September 17, 2010  |  Sofia Tuckson

Nations that are ahead of the technological curve in terms of credit card security systems are rapidly adopting an innovative type of card-reading device known as “chip and pin” technology. The chip and pin on cards is much harder to hack than the old-fashioned magnetic strip, so criminals trying to steal your credit card information or money will have a much more difficult time.

 

That means you can make more secure payments during your travels to the countries that have this kind of pin and chip system which is also known as an EMV-compliant card technology. Or it could mean that you will land in some distant foreign country with lots of plastic and very little cash, only to find out that your credit cards do not work because back in the USA credit card companies have not yet gotten on the EMV-compliant bandwagon.

 

Credit cards issued in the USA have magnetic strips on the back, and those cannot be read by most of the newer credit card machines used in about two dozen other countries. That

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Tags: Credit, Credit Cards
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