Weekly Tips

Weekly Tips

Some Variable Rates Only Go Up

Most credit cards currently carry variable interest rates. And while the term "variable" seems to suggest that an interest rate could vary up or down depending upon the movement of the index to which it's attached, that's not always the case.

Updated by Joshua Heckathorn on Thu, 2010-02-25 16:00

Watch Out for Minimum Finance Charges

Minimum finance charges are on the rise as credit issuers continue to search for creative ways to increase fee revenue while operating within new rules set forth by Congress.

Updated by Joshua Heckathorn on Mon, 2010-02-15 16:00

Say No to Instant Tax Refunds

RALs, or refund anticipation loans, won't be as heavily advertised this tax season in an effort to avoid bad press. However, most major tax preparation chains will still be promoting these "instant" refunds behind the scenes.

Updated by Joshua Heckathorn on Sun, 2010-02-07 16:00

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

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

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

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

Pay the First Bill of 2010 to Yourself

Holiday cards from friends and family probably filled your mailbox in December. Unfortunately, something a lot less enjoyable and amusing to read may take their spot in January—the dreaded post-holiday bills.

However, if you entered this holiday season with a realistic budget and the determination to partake of the festivities while still living within your means, there should be room to squeeze one more bill at the top of the stack. That bill, the most important one of all, will be paid directly to yourself.

Updated by Joshua Heckathorn on Mon, 2009-12-28 16:00

Conduct a Year-End Credit Card Inventory

Did 2009 bring some unwanted changes to your credit cards' terms and conditions? If not, consider yourself lucky.

Skyrocketing interest rates, reduced credit limits, increased minimum payments, and account closures have left very few credit card users unaffected. That's why this time of year presents the perfect opportunity to conduct an annual inventory of your personal credit cards and determine exactly what has and hasn't changed in 2009.

Updated by Joshua Heckathorn on Mon, 2009-12-21 16:00

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