Capital One Accused of Dishing Out Low Blows

February 5th, 2010 by Joshua Heckathorn

] What would you do for a whopping $1.00 of new credit from your credit card issuer? Hmmmmm...let me see—nothing? You certainly wouldn't agree to move old charged-off debt to a new credit card just so you could start making payments and paying interest again, right? That would be absurd! That is, unless you were tricked into doing so.

Limited Options for Cards Sans Currency Conversion Fees

January 28th, 2010 by Joshua Heckathorn

Dear Creditnet: I received a credit card offer in the mail from the university I attended for graduate school. It's a MasterCard issued by a major bank with no annual fee, and it also boasts no currency conversion fees for international transactions. Is this a perk that's common through other no annual fee credit cards as well? I travel overseas often, so this could really come in handy on future trips.

FICO Score is No Respecter of Income

The common belief that income directly impacts the strength of one's FICO score is perhaps the longest-living credit myth on record. The truth is whether you make $25,000 or $250,000, your FICO score couldn't care less.

Updated by Joshua Heckathorn on Sun, 2010-01-24 16:00

American Express Points for Taxes? No Thanks

January 22nd, 2010 by Joshua Heckathorn

Photo by Andres Rueda[/caption] It's always annoyed me that we can't pay our taxes with a credit card for free. I mean, come on—it's 2010, and I still have to cut a check or set up a direct debit to the IRS each year. It just seems so old fashioned. I would much rather use my credit card to pay online, rack up rewards points, and enjoy having an extra 30 days or so before coughing up the cash to pay my balance in full. Wouldn't you?

What's the FDCPA?

The FDCPA, or Fair Debt Collection Practices Act, protects consumers from abusive collection techniques and provides legal recourse to fight back against third-party debt collectors who violate the law.

Updated by Joshua Heckathorn on Sun, 2010-01-17 16:00

Fiore Pokes Fun at Credit Card Reform

January 14th, 2010 by Joshua Heckathorn

In response to the CARD Act, credit card companies are desperately seeking to boost profits by resurrecting old fees and creating new ones.

The long-lost inactivity fee is one that's been receiving a lot of attention in the media lately. Use your card too much, and you end up in debt. Use your card too little, and your credit issuer will slap you with a nasty inactivity fee for basically not being profitable enough.

5 Ways to Protect Your Credit Score in 2010

The financial crisis of 2007-2009 changed the world of consumer credit forever. So what will 2010 bring to the credit industry? To sum it up it one word—reform.

Updated by Joshua Heckathorn on Tue, 2010-01-12 16:00

Considering a Charge Card? Keep Your Credit Score in Mind

Charge cards can be a great way to avoid racking up debt while still enjoying the convenience of paying with plastic. But if you're considering switching your spending from credit cards to a charge card, you should understand that the switch may have an unintended effect on your credit score.

Updated by Joshua Heckathorn on Sun, 2010-01-10 16:00

The Inactivity Fee Returns

January 8th, 2010 by Joshua Heckathorn

Photo by Photos8.com 2010 already looks like it's shaping up to be the year of ever-expanding fees for credit cardholders. While legislators are still celebrating and patting themselves on the back for passing the CARD Act of 2009, consumers, on the other hand, haven't experienced much to be happy about at all. Credit limits continue to get slashed, interest rates are on rise, and credit issuers are resurrecting old fees or adding new ones in an effort to recapture lost profits.

Don't Ignore Your Credit Card Mail

Here's some simple financial advice for 2010—don't throw away any credit card mail without reading it first!

If you do, you might regret it because those letters cramming your mailbox may still look like shredder-worthy pieces of junk mail, but they could very well contain important information regarding changes to your credit cards' terms and conditions.

Updated by Joshua Heckathorn on Tue, 2010-01-05 16:00