Britons will reap the benefits of being transparent about debts accrued on credit card debt, an expert has suggested.
Jasmine Birtles, founder of Moneymagpie.com, explained that recognising potential money issues rather than ignoring them is “a very healthy thing”.
“For far too long people have kept their debt to themselves,” she remarked.
Meanwhile, a YouGov SixthSense survey claimed earlier this week that frequent credit card users are more likely to be in good financial health than those who only use their plastic occasionally.
The survey found that around 35 per cent of people use their credit card weekly, while 24 per cent use it only once a quarter or less.
Frequent credit card use was not a sign that people were in financial difficulties and reliant on borrowing money, the researchers said.
In fact, they associated frequent use with wealth and stability.
“Those with greater means can afford to use their credit cards as if they were debit cards : the card can be used day-in, day-out for all types of purchases and payments can be made in time without having to incur charges or high interest payments,” explained James McCoy, YouGov SixthSense research director. Read full article…
Lenders will go before Congress this week to discuss foreclosure documentation crisis and explore foreclosure alternatives
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.
Congressional hearings will take place on Tuesday and Thursday and include leaders from Bank of America and JP Morgan Chase, among others. During the sessions, lenders are likely to face pressure from the government to push for more home loan modifications in place of evictions and foreclosure, according to Reuters. Read full article…
If your credit’s a bit shaky, no one needs to tell you how difficult it is to find credit cards for bad credit. You’re probably already shaking your head in frustration. Well, there’s good news and bad news: you definitely can get a credit card, even with a poor credit rating, but it’s not always the easiest thing to do.
Understanding the Industry
To understand why credit cards for bad credit are so hard to find, you have to know something about the credit industry. In fact, it’s a good idea to know a lot about the credit industry, and if you want to find out everything in easy, non technical terms, I suggest regularly visiting Credit Card Whiz Kid.
In terms of bad credit, though, you have to understand that every time a company issues a credit card, they’re gambling that you’ll repay your debts and not leave them holding your bills.
If you’re a Costco member in the market for a new credit card, consider the “Costco American Express” credit card.
First and foremost, the American Express Costco credit card is a American Express credit card and a Costco card in one.
That’s right, two memberships for the price of one in the TrueEarnings® Card from Costco and American Express.
Cash Back Rewards at Gas Stations, Restaurants, and Even Costco!
The Costco American Express card also comes with great cash back rewards, including 3% back on gas for annual gasoline purchases up to $3,000 (and 1% thereafter).
You also get 3% cash back at restaurants, 2% cash back for travel, and 1% cash back on everything else, including Costco purchases.
If you eat out a lot, the cash back at restaurants is certainly a biggie. In fact,
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. Monthly credit card bills must indicate how long it will take to pay off the balance if only the minimum payment is made. Those under 21 years old can’t open a credit card without having evidence of enough income or a co-signer.
