‘Consumer worries about credit card fraud have resulted in numerous protections being created. A consumer whose credit card is wrongly used by another generally has one hundred percent protection. If your personal credit card is stolen and used by an unauthorized party, the card issuer is usually able to refund all lost monies and will […]
More Merchant has a useful post titled 5 Credit-Card Hazards and How to Avoid Them. Here’s their first two:
‘Minimum Payment, Maximum Pain - If you make the minimum payment you will lose. The normal credit card paid at hte minimum payment will take half of your life to pay off and thousands of interest given […]
‘Another way increased minimums may cut debt is by forcing buyers who think in terms of monthly installments to take a second look at what they can afford. The new minimums will effectively double the monthly price of a purchase, turning a $40-a-month payment for a new sofa into an $80-a-month one. “People charge up […]
‘Credit card debt starts young in America. Eighteen-year-olds can and do get credit cards, especially if they’re headed for college. Enter the big hall on registration day, and there are numerous credit card companies lined up in booths, with easy credit to offer. First the kids start using the card for textbooks, then stereo equipment […]
The Wealthy Blogger has just posted a comprehensive article titled The Ultimate Credit Card Payment Program which will be worth checking out for anyone struggling with Credit Card Debt.
Mike over at The Wealthy Blogger writes a good post about Minimum Payments and whether you should pay them on your credit card:
‘Many people out there pay whatever the minimum monthly payment is on their credit card statements, decreasing their payments as their balance drops. This is a sure way to pay far too much […]
This is a very disturbing trend, yet another announcement by a major retailer that the credit data was once again exposed. In an AP article, data was stolen from Polo Ralph Lauren Inc. and HSBC North America is starting to notify holders of their General Motors-branded MasterCards that their credit card information may have been […]
Selena Maranjian has a good article on How to Owe $40,000 by Doing Nothing
‘A few months ago, I wrote a short article highlighting just how high some credit card interest rates are. The rates were so high that I have had trouble getting them out of my head. Permit me to quote myself:
“With interest rates […]
‘- Sign up for automatic payroll deposits.
- Shred private documents, including unsolicited credit card applications.
- Do not carry your Social Security card.
- Put outgoing checks and other sensitive documents in a U.S. Postal Service mailbox.
- Use an electronic bill payment service and monitor it regularly.’
Read more at Tips for Preventing Identity Theft
‘Your credit-card debt is always higher than the statement says it is if you’re one of the millions of Americans who carry a balance every month.
At last count, 61 percent of Americans carried a balance, making 61 percent of statements just a little bit off.
This truth starts to matter when you decide to pay off […]