Saturday, June 9, 2007

Excellent Credit Card Offers

I found a great site for credit cards. Whether you have poor credit, you're a student, or have excellent credit this website will have the card for you. They are super organized, informative, and user friendly. If you are in search of a great credit card for your credit then check out Credit Card Applications

Monday, May 21, 2007


In 2002, there were approximately 500,000 identity theft victims costing banks and credit card companies about $5 billion because they ultimately pick up the tab. The average victims will spend $1,374 and 175 hours cleaning up their credit report. Identity thieves rob more than 500,000 Americans every year. These steps will help you reduce your risk of identity theft.

1.Closely protect your Social Security Number because it is the key to your credit report and banking accounts and is the prime target of criminals.

2.Monitor your credit report as it contains your Social Security Number, present and prior employers, a listing of all account numbers, including those that have been closed, and your overall credit score. After applying for a loan, credit card, rental or anything else that requires a credit report, request that your Social Security Number on the application be truncated or completely obliterated and your original credit report be shredded before your eyes or returned to you once a decision has been made. A lender or rental manager needs to retain only your name and credit score to justify a decision.

3.Shred all old bank and credit statements and "junk mail" credit card offers before putting them in the trash. Where possible, use a crosscut shredder.

4.Remove your name from the marketing lists of the three credit reporting bureaus to reduce the number of pre-approved credit offers you receive.

5.Add your name to the name-deletion lists of the Direct Marketing Association's Mail Preference Service and Telephone Preference Service used by banks and other marketers.

6.Do not carry extra credit cards or other important identity documents except when needed.

7.Photocopy both sides of your license and credit cards so you have all the account numbers, expiration dates and phone numbers if your wallet or purse is stolen.

8.Do not mail bill payments and checks from your home mailbox because they can be stolen and washed clean in chemicals. You should take them to the post office.

9.Do not print your Social Security Number on your checks

10.Order your Social Security Earnings and Benefits statement once a year to check for fraud.

11.Examine the charges on your credit card statements before paying them.

12.You should cancel all unused credit card accounts.

13.Never give your credit card number or personal information over the phone unless you have initiated the call and trust that business. Don't give a bank account number or Social Security number to any person or company you have doubts about. A company that has only a Web site or mailbox drop should raise suspicions.

14.Don't leave credit card receipts lying around.

15.Subscribe to a credit report monitoring service that will notify you whenever someone applies for credit in your name.

The Internet is replacing more traditional methods of scamming individuals, including the phone and mail. Of the complaints that weren't related to ID theft, half had some connection with the Internet. Consumers were contacted online, responded to Web ads or made a questionable transaction entirely on the Internet. Of the consumers who complained about fraud, only 23% were contacted by phone. Nearly 20% of suspected frauds were done through bank debits, according to the Federal Trade Commission.

Sunday, May 6, 2007

Interest rates haven't been this low for decades, tempting some consumers to take on additional debt to ease existing credit woes. The goal is to consolidate various higher-interest balances into one, easier-to-handle and less-costly package.

But be careful of what looks to be a quick fix.

"You're getting symptomatic relief, not a credit cure," says Chris Viale, general manager of Cambridge Credit Corp., a nonprofit credit counseling agency based in Agawam, Mass.

This fighting-fire-with-fire approach can take several forms. There are debt-consolidation loans, balance transfers to a zero-percent credit card and home equity loans or lines of credit.
But, says Viale, 70 percent of Americans who take out a home equity loan or other type of loan to pay off credit cards end up with the same (if not higher) debt load within two years.

Viale's statistics underscore a major problem with debt consolidation: It feeds upon the tendencies that got you in trouble in the first place. By taking on yet another creditor, you're adding the proverbial fuel to the fire. In this case, it's your money that's burning.
Plus, if you've taken on so much debt that you're looking for more as a solution, chances are you won't qualify for the very low interest rates you see advertised. Those generally go to people with stellar credit ratings.

However, if you're at the end of your credit rope or swear that this time you'll be more disciplined, debt consolidation may be something to consider despite its risks. Here are some popular forms of debt consolidation, how they work and a look at their pros and cons.
Read the rest of the article here

Wednesday, May 2, 2007

Getting free copies of your credit reports

Yes, you can get one free copy of your credit report every year from each of the big three credit reporting agencies: Equifax, Experian and TransUnion.

You just can't get your reports directly from them.

You must go to Annual Credit Report

Before we look at why you should do this, and with identity theft becoming more and more of a financial epidemic, let's look at how to do it. is the centralized service that the three agencies set up that processes requests for free annual credit reports. You will find information about it on each of the three credit reporting agencies' home pages, but you might have to look around for awhile to find it.

The home page of each of the companies --, and -- gives the information under a heading that reads something like this: "What is the FACT Act?".......
Read the rest of the Article here

Thursday, April 26, 2007

Piggyback can lift your credit score

It's called piggybacking, and like the childhood playground game, it involves getting a lift. Only with this piggyback ride, it's your credit score that gets a boost.

Critics claim it's lenders who are being taken for a ride.

Piggybacking works like this: After paying a fee, you are listed as an authorized user on someone else's credit card, someone with a healthy credit rating. You don't actually get to use the card, but the credit history of that card appears on your credit report, making it more attractive.

Internet sites that make these connections claim that this ride on someone else's credit history can raise your credit score almost instantly. Higher credit scores mean better deals and lower interest rates on loans.

You will, of course, pay for the privilege -- often thousands of dollars.

And why would the credit card holder allow you to piggyback on his or her lofty credit rating? Read the rest of the Article

Monday, April 23, 2007

First things first..if you have bad credit, start by fixing it.

If you want a credit card, one of the easiest ways is to apply for a department store credit card. They are more likely to give you a credit card then your major issuers. HOWEVER, I do not recommend it. They have higher APR's. BUT, it can get your credit established so you can get a good Visa or Mastercard later on down the road.
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Thursday, April 19, 2007

Maintaining Your Credit Score

Here a few tips to maintaining a good credit score:
  1. Don't apply for too much credit in a short amount of time.
  2. Only apply for credit that is obtainable. If you know you won't qualify for an American Express Card, then don't apply for it.
  3. Pay your bills on time!! Even if it's the minimum, always pay it on time.
  4. Don't max out your credit cards and don't go over the limit.

These are some important tips in keeping your credit score in good standing.

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