Posted on February - 14 - 2010
Losing your credit card is very troublesome. The worst thing you want to avoid is your card being stolen. There are so many people who would easily take advantage of it and use it immediately to purchase things they want. If you think you are protected because they cannot copy your signature, think again. Some are very good in forging signatures. It is just a matter of trying to imitate your strokes a couple of times and it can then pass as your real signature after a few minutes. It will be very hard for store owners to tell if the signature was legitimate or not.
No robber will take mercy. They will use your credit card until your credit limit is maxed out.
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Posted on February - 12 - 2010
Consumers currently caught in a credit card debt trap are eagerly awaiting the regulatory changes initially set to take effect in July 2010. All signs are good that these changes will take place much sooner.
With that in mind, it’s interesting to look back at regulations that did and didn’t exist in the early days of the credit card industry.
For instance, until the mid-70’s there were virtually no regulations other than those imposed upon members by the industry itself.
Banks eager to cash in on the interest paid on revolving credit card accounts were aggressive in gathering new customers – so aggressive that they mailed active credit cards to consumers who had not asked for them.
Some of those consumers were income-earning adults, but some were not. Read full article…
Posted on February - 11 - 2010
After a long period of cutting back on credit card offers and otherwise tightening terms, credit card companies may be getting ready to increase lending again. Card issuers boosted the number of credit card offers they sent out in the last three months of 2009 by 47 over the previous three months, according to direct mail researcher Mintel Compermedia.
Still, for people with bad credit scores, there was bad news: they are not likely to be invited to the party.
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Posted on February - 11 - 2010
What can credit card issuers do to get cardholders to make more purchases? As this question would seem comical, it is one that has probably been brought up in every credit card issuers’ boardroom across the country. While it may seem like the answer is simple, now that many people have shifted to other forms of payment, card issuer may have more to worry about than lowering interest rates.
While lowering interest rates is one thing that could possible get consumers to start using their plastic more, it is only part of the answer. After a year of increased interest rates and decreased limits on majority if not all cardholders, many have had no other choice but to rethink how they will pay for goods and services. D
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Posted on February - 09 - 2010
Start building up a good credit early in your life. You can do this easily if you get a secured credit card. If you are already in your adult years and have never had an opportunity to establish credit, this is also good for you. Almost all individuals will need to get a loan at some point in their lives, and when this time comes, loan companies will definitely check on credit standing to see if a person is qualified or if they can be trusted. Without a good credit history, companies may refuse to let you borrow from them. Thus, it is important to build a solid credit history if you can.
There are many ways to do this, but most people turn to a secured credit card because this is the most accessible.
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