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...
All Weekly Tips
All Weekly Tips
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Some Variable Rates Only Go Up
Feb 25, 2010
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Watch Out for Minimum Finance Charges
Feb 15, 2010Minimum 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. Applied when a...
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Say No to Instant Tax Refunds
Feb 07, 2010RALs, 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...
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FICO Score is No Respecter of Income
Jan 24, 2010The 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...
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What's the FDCPA?
Jan 17, 2010The 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...
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5 Ways to Protect Your Credit Score in 2010
Jan 12, 2010The 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. In fact, the...
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Considering a Charge Card? Keep Your Credit Score in Mind
Jan 10, 2010Charge 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...
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Don't Ignore Your Credit Card Mail
Jan 05, 2010Here'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...
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Pay the First Bill of 2010 to Yourself
Dec 28, 2009Holiday 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-...
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Conduct a Year-End Credit Card Inventory
Dec 21, 2009Did 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,...
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What's the CROA?
Dec 06, 20092008 was a tough year for credit repair agencies. In fact, the Federal Trade Commission shut down more than 30 businesses for violations of the CROA - The Credit Repair Organizations Act - which...
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Don't Forfeit Your Credit Card's Rewards Miles
Nov 29, 2009Banks are sending a clear message to those who enjoy racking up airline miles and hotel points for credit card purchases—pay your bill on time, or forfeit those coveted rewards. Effective...
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How ChexSystems Works
Nov 23, 2009If there's one report in the financial world you definitely don't want your name on, it's ChexSystems. Utilized by U.S. Banks and credit unions as a way to determine if potential customers are too...
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What's the FCRA?
Nov 15, 2009The three big credit reporting agencies—Experian, Equifax, and TransUnion—gather an enormous amount of personal data about consumers, compile their credit reports, and disseminate...
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Do I Qualify for the Homebuyers Tax Credit?
Nov 08, 2009If you didn't qualify before, your chances just got much better. The first-time homebuyers tax credit, which was scheduled to lapse on December 1, will now live on until at least June 30, 2010. And...
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Give Your Holiday Budget a Boost
Nov 01, 2009If there's any time of year when we could all use a few extra bucks in our budget, it's the holiday season. Let's face it, all those gifts, parties, expensive dinners and extra travel to visit...
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Beware of POS Overdraft Fees
Oct 25, 2009Many consumers, in an effort to avoid ATM fees, take cash withdrawals during point-of-sale transactions at grocery stores or other retail establishments. While this may be a savvy way to avoid...
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Under 21? 3 Reasons to Get a Credit Card Today
Oct 21, 2009I got my first credit card when I was a 19-year-old student, but I wasn't new to credit. In fact, I had already established a solid credit score and a clear understanding of how to responsibly...
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Holidays are a Hotbed for ID Theft
Oct 19, 2009The Holiday season means more shopping than usual for most of us. Whether you like it or not, you'll probably spend more time than any other season of the year searching for the perfect gifts in...
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Right to Opt Out Excludes Minimum Payment Increases
Oct 12, 2009Consumers have the right to opt out of significant changes to their credit card accounts, such as increases in interest rates and other unwanted fees. What's this mean? Opting out basically means...
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To Co-sign or Not?
Oct 05, 2009If you have good credit, there will likely come a time in life when a close friend or relative asks you to cosign a loan. Should you say yes? The easy in answer is "no", and here's why. Since you'...
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Credit CARD Act of 2009: 5 Must-Know Nuggets
Sep 29, 2009Signed into law by President Obama on May 22nd, the Credit Card Accountability, Responsibility, and Disclosure (CARD) Act of 2009 marks a significant turning point for America's credit card industry...
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Is Your Annual Fee Worth It?
Sep 29, 2009Nothing in the Credit CARD Act of 2009 limits annual fees, so credit issuers are already beginning to rethink their annual fee structures in an effort to fight eroding profit margins. In fact, a...
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Extra Time to Pay Your Credit Card Bill
Sep 20, 2009Although most of the 2009 Credit CARD Act's major provisions don't take effect until early 2010, bill-paying procrastinators have something to cheer about already. Effective August 20th, you now...
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Does Your Card Have an Interest Rate Floor?
Sep 15, 2009Interest rates are near record lows, but many consumers have noticed their credit card rates aren't following suit. Some have unfortunately experienced skyrocketing rates as credit issuers fight...
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What's the FCBA?
Sep 09, 2009Have you ever noticed that your credit card company mistakenly billed you for something twice? Or perhaps you returned that new flat screen TV because it was too huge to fit on your living room wall...
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Credit for Paying the Bills
Sep 06, 2009I find it hard to believe there are still millions of Americans that don't exist within our nation's credit-scoring system. Since credit has played an integral role in my personal financial life...
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When You Can't Opt Out
Aug 31, 2009Effective August 20th, the Credit Card Act requires credit issuers to provide 45-day advance notice of a change in interest rates. The idea is that consumers will now have a sufficient amount of...
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Credit Reports May Be Accessed Without Your Permission
Aug 16, 2009It's a common myth to believe that your credit reports can only be accessed with your exclusive permission. So, you may be surprised to find out that the Fair Credit Reporting Act (FCRA) actually...
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How Many Points Will My Credit Score Drop From Hard Inquiries?
Aug 09, 2009Hard inquiries are recorded on your credit reports when you apply for new credit products, cell phones, insurance, or maybe even a new job. They are essentially a record of every time a business has...
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Authorized User vs Joint Account Holder
Aug 02, 2009If you're planning to add someone, like a spouse or child, to your credit card account, you'll need to first decide whether you want to add the individual as a joint account holder or an authorized...
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Under 21? New Rules Limit Access to Credit
Jul 19, 2009New credit card regulations set to take effect in early 2010 will make it more difficult for young adults to gain access to credit. This is an important issue for those moving out of the house for...
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Online Savings Accounts: Top 3 Questions to Ask When Weighing Your Options
Jul 16, 2009A soaring personal savings rate among American consumers confirms that the era of conspicuous consumption is out and frugality is in. So, where's the best place to stash your newfound cash as you...
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Auto-pay Credit Cards from Online Savings Accounts
Jul 08, 2009Did you know you can set up automatic payments for many of your credit cards directly from an online savings account? This can be an excellent way to earn the highest interest rate possible on your...
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How Many Credit Scores Do I Have?
Jun 22, 2009Unless you don't exist in the credit system for some reason, you actually have three credit scores. And you have three credit scores because you also have three credit reports — one from...
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Shop Credit Cards the Smart Way - Compare and Apply Online
Jun 14, 2009The days of just applying for whatever credit card offer you received in the mail are long gone. And that's a good thing, because it wasn't a smart way to shop in the first place. If you were in...
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Bid Double-Cycle Billing Goodbye
Jun 07, 2009While the Credit Card Act of 2009 may not be perfect, it will put an end to some of the more egregious practices that have plagued the credit card industry for decades. Among the major changes the...
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Why Credit Still Counts
Jun 04, 2009It's easy to despise the credit issuers. Who else should we blame for the ugly state in which our credit card industry exists today? Should we blame consumers for making poor financial decisions...
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Reward Yourself with the Citi Forward Card
May 31, 2009Looking for a new rewards credit card that's forward thinking? Do you pay your credit card bill on time and stay within your credit limit each month? And do you happen to spend most of your...
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moneyStrands Helps Put Your Financial House in Order
May 25, 2009Our personal financial lives can quickly become complex and difficult to track. In fact, if you're like most people, you may already have several online bank accounts, a mortgage, HELOC, savings...
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